I have ownership of my business name and someone in the same town has a simular but not the same name who just sent me a letter saying i need to

Under the law of trademark, the "senior" user has the right to exclude a "junior" user from the use of a confusingly similar mark. For example, assume you have registered the tradename or trademark FORRDE and are selling cars under that name. Your use is not authorized by Ford Motor Co. Ford has the legal right to require you to cease using a mark that is confusingly similar to their registered FORD mark. If you refuse such a demand, you may be liable for attorneys' fees, costs, infringing profits, actual and punitive damages and injunctive relief. You should seek the help of an attorney right away.