What is a 623 Dispute Letter Definition & Meaning (2024)

FAQs

What is a 623 Dispute Letter Definition & Meaning? ›

A 623 dispute letter is a written communication submitted to a credit bureau, typically by a consumer, to dispute inaccuracies or discrepancies in their credit report.

4) 623 credit dispute letter

It refers to Section 623 of the Fair Credit Reporting Act and contacts the data furnisher to prove that a debt belongs to the company. It is applicable for the validation of third-party debt collection accounts.

Duty to Provide CRAs with Accurate Information

Section 623(a) of the FCRA generally prohibits a person from furnishing inaccurate information to a CRA. The standards for the prohibition differ, depending on whether the person specifies an address for receipt of notices from consumers concerning inaccurate information.

A credit dispute letter is an explanation of an error or outdated information on your credit report that you send to one or all of the three major credit bureaus, along with a dispute form you can download from Experian, Equifax and TransUnion. You'll want to dispute the credit report at the bureau that issued it.

The 623 dispute method allows you to dispute any inaccurate information on your credit report directly with the original creditor.

Scores ranging from 300 to 579 are classified as poor. Scores ranging from 580 to 669 are categorized as fair. Scores ranging from 670 to 739 are considered good. Scores ranging from 740 to 799 are viewed as very good.

If you identify an error on your credit report, you should start by disputing that information with the credit reporting company (Experian, Equifax, and/or Transunion). You should explain in writing what you think is wrong, why, and include copies of documents that support your dispute.

If you are a debt collector furnishing information to a CRA about the accounts of a creditor, you must report the date of delinquency given to you by the creditor. FCRA 623(a)(5)(A) This "date of delinquency" determines how long the debt can be reported on a consumer's credit report.

Common violations of the FCRA include:

Creditors give reporting agencies inaccurate financial information about you. Reporting agencies mixing up one person's information with another's because of similar (or same) name or social security number. Agencies fail to follow guidelines for handling disputes.

A Section 609 dispute letter allows consumers to request verification of accounts on their credit reports. If the disputed information cannot be verified within 30 to 45 days, the credit bureaus must remove it from your credit history.

What qualifies for a dispute? ›

Consider a dispute if: You were charged for a payment you didn't make. You didn't receive a refund when you returned an item you purchased. You never received an item you purchased.

If disputes are successful, the credit bureaus may remove the negative item. Any accurate or verifiable information will stay on your credit report—a 609 letter doesn't guarantee its removal. However, you may increase your chances of removal if you follow a 609 letter template and provide enough information.

It's located in Maricopa County in central Arizona and covers 60 square miles. Area code 623 also contains the surrounding cities of Peoria, Sun City, Avondale, and even western Phoenix among others. Glendale is an important city in the state because it's only 10 miles from the state capital of Phoenix.

611 credit dispute letter: This is how you'll ask the credit bureau to show how they verified information you are disputing. Section 611 is invoked when a credit bureau responds to your dispute and says it has verified the information.

Bottom line. 609 dispute letters are seen as a way to help improve your credit, but they don't really do this, not directly at least. You can instead dispute inaccurate information with the help of Credit Journey or by contacting the credit bureaus directly.

A Section 609 dispute letter allows consumers to request verification of accounts on their credit reports. If the disputed information cannot be verified within 30 to 45 days, the credit bureaus must remove it from your credit history.

A 609 letter is a credit repair method that requests credit bureaus to remove erroneous negative entries from your credit report. It's named after section 609 of the Fair Credit Reporting Act (FCRA), a federal law that protects consumers from unfair credit and collection practices.