Home > Credit Repair > Credit Repair: When Writing A Dispute Letter
Credit Repair: When Writing A Dispute Letter |
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If you are having bad credit it will appear in your credit report but you don't want to see any incorrect information in your credit report as it can affect your credit repair process drastically. Don't despair you have the law in your favor.
If you find any information that you think is not correct you can write a dispute letter to the consumer reporting agencies. Remember incorrect information should be removed from your credit report as your credit repair process depends on it. When writing a credit repair dispute letter, it's important to keep a few things in mind. First, the credit card companies are used to people trying to get out of their obligations. So when writing a credit repair dispute letter, it's important that the consumer be honest and reasonable in their approach. A good format is to list what the error is, why the consumer believes the information is inaccurate and what course of action that they would like to see happen. For example, if a credit report shows that a late payment was made to an account, and the creditor knows that all of their payments were on time, the creditor may request which payment was late. Once that information is received, a creditor can then find the corresponding banking information that would show that there payment was made on time. In this instance, a cleared check or a receipt from an on-line payment may suffice. Here's where the patience comes into play. If you find any accuracy in your credit report, your first step is to write credit repair dispute letter to credit reporting agencies. Most credit card companies find that people send original credit repair dispute letters and then do nothing to follow up with their concern. So if a consumer truly wants to change an error on a report, the follow through is key. Sending a photocopy of the payment, never the original, with the pertinent information highlighted will often be enough evidence for a credit card company to make the change. Although they may be jaded by some of the less responsible consumers, every credit card company wants to keep its valuable clients. As you may or may not know, there is absolutely no need to hire a credit repair company to complete the credit repair dispute letter process for you. You can do it all yourself for as little as the cost of paper, envelops, and three stamps. The first step in disputing inaccurate items on your credit reports is to obtain copies of your reports from each of the three credit bureaus. The next step is for you to sit down with each of your credit report and thoroughly examine them. Make notes of which ones you believe are inaccurate or shouldn't be there at all as well as any accounts that have been inactive for more than 7 years. These notes help you to write a effective credit repair dispute letter to your credit bureaus. After evaluating your reports and identifying the items you want to dispute you will need to write a separate credit repair dispute letter to each of the three credit bureaus. For each item you are disputing you need to list the name of the item, the amount of the item, the collection agency, why it is incorrect, and what you want done about it (corrected or removed). If a debt shows up on more than one credit bureau's report you have to contact each bureau separately about it. With each credit repair dispute letter include your name, Social Security Number, full address, a copy of your drivers license, a copy of the corresponding credit report, and any proof you have that the disputed items are incorrect. Always send any credit repair dispute letters and correspondence via certified or registered mail so that you will have proof they were received. You may use the form that the credit repair agency sends you instead of writing out your own letter, but don't feel badly if you need more space to state your case. Make sure to keep a copy of everything that you send as well, just in case it gets lost in transit. About 30 days after you've sent off your letters, you should receive responses from the credit repair agencies you have contacted. The letter will show clearly what has been changed, along with a new copy of your credit report, as well as any omissions, deletions, or additions to your credit repair file. If you still have an issue, you have up to two years to make changes on your file, as per the Fair Credit Reporting Act (FCRA). |
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