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You can dispute credit report errors with the help of these sample letters: Customize this letter from the Federal Trade Commission (FTC) and send it to the creditor that provided the incorrect ...
A 609 dispute letter, also known as a credit dispute letter, is a written request to credit bureaus to remove incorrect, negative information from your credit report.
Debt validation, or "debt verification", refers to a consumer's right to challenge a debt and/or receive written verification of a debt from a debt collector. The right to dispute the debt and receive validation are part of the consumer's rights under the United States Federal Fair Debt Collection Practices Act (FDCPA) and are set out in §809 of that act, which has been codified in Title 15 ...
Debt settlement (also called debt reduction, debt negotiation or debt resolution) is a settlement negotiated with a debtor's unsecured creditor. Commonly, creditors agree to forgive a large part of the debt: perhaps around half, though results can vary widely. When settlements are finalized, the terms are put in writing.
Accord and satisfaction is a settlement of an unliquidated debt. For example, a builder is contracted to build a homeowner a garage for $35,000. The contract called for $17,500 prior to starting construction, to disburse $10,000 during various stages of construction, and to make a final payment of $7,500 at completion.
Debt management involves using financial tools and planning to help lower — and eventually eliminate — your current debt. You can go through a credit counseling agency or you can set up a ...