How do I dispute an incorrect debt amount?

If you believe that you have been incorrectly charged an amount of debt by a creditor in New Mexico, you may have rights under the Consumer Debt Defense Law. This law protects consumers from unfair debt collection practices, including incorrect debt amounts. To dispute an incorrect debt amount, you should first request a “billing statement” from the creditor. This statement should include the exact amount of the debt, the date it was incurred, and the account number. You should also request records of any applicable interests or fees connected with the debt. Once you have the billing statement, you must write a dispute letter to the creditor. This letter should include a detailed explanation of why the debt amount is incorrect. Be sure to include any evidence and supporting documents that you have so that the creditor can review. You should also send a copy of this letter to any consumer credit reporting companies that have reported the incorrect debt amount. This will ensure that the false information is not reported and that the amount is corrected. After the creditor receives the dispute letter, they must review the information and contact you within 30 days. They must also provide you with a written explanation of their decision. If the debt amount is determined to be incorrect, then the creditors must immediately correct the amount and remove any false information from your credit report.

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