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Home > Bad Credit Loans >
Problem Credit > Credit Repair Letters
Credit Repair Letters |
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Credit scores are extremely important these days and should be taken very seriously. It is important that they are completely accurate. Unfortunately, no one cares about maintaining the accuracy of your credit report as much as you do. This means that even if an error is not yours, it will likely be you who has to fix it. A simple error on your credit report could cost you a lot more money than you think. Your credit score determines your payment rates for loans and credit cards. Those with low credit scores are paying much more than those with better credit scores. If you think it is possible that there is an error on your credit report causing you to have high payments and to be declined for credit cards, you should immediately go about obtaining a copy of your credit report. Even if you have no reason to suspect that there are errors on your credit report, it is still a good idea to check over it for errors at least once a year. You are entitled to one free credit report per year, and even if you need an additional report, you can get one for eight dollars. Send a letter requesting a copy of your credit report to the credit bureau and enclose your eight-dollar payment within the letter. Once you get the credit report, check over your credit report to make sure that all of the information is correct, checking for things like the accuracy of late payment, nonpayment claims, as well as outdated information such as information older than seven years or ten years for bankruptcy. After checking for discrepancies and if any are found, the next thing you need to do is to fill out a credit repair letter. In this credit repair letter, be sure to attach proper documentation, including a copy of your credit report that you looked over with the errors highlighted or otherwise marked. Within the credit repair letter, state each incorrect piece of information within the report and explain why it is not correct. It is important to be firm and polite in tone when explaining that you are aware of your rights. Many people address the Fair Credit Reporting Act of 1996 as a guideline to the rights and treatment that they are entitled to regarding their credit. If there are also some accurate "black marks" on your report, you should address these within the letter in the form of assuring the bureau that you will pay the balances that you owe. You should express your desire to have the inaccurate information reinvestigated and subsequently deleted from the report. Also, within the credit repair letters ask to be notified once the changes have been made and have a copy of the updated credit report sent to you. If you do not wish to write your own credit repair letter, there are many free forms and examples available online of a proper credit repair letter. You can simply fill in these templates and print it out and send it in. Make sure that all of the above information is included within the letter. |
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