WRITING A CREDIT DISPUTE LETTER

Your credit score is a very important aspect of your life and should be taken very seriously. It is crucial that your score is 100% accurate. It is very common for companies to report your information inaccurately or out of date to the credit bureaus. Even though the error is not by you, it is still your responsibility to take the steps for correcting a credit report.

Even a simple mistake on your credit file can end up costing you a great deal of money. Credit scores determine what rates and terms you receive for credit cards and loans. If you are concerned that an error on your report is resulting in you getting declined for any type of credit or paying too much in interest, you should get a copy of your credit report to ensure that your info is being reported as it should. In fact, it is a wise idea to get a copy of your credit report at least once a year to ensure that all of your info is accurate and current.

By law consumers are allowed to receive one free credit report annually. In the event that you need to see your credit more than once/year, you can obtain a free copy of your credit score online, or you can send $8 to any of the three major credit reporting agencies. Once you obtain your credit report, go over it carefully to make sure that all of the info is correct. Look for things like claims of nonpayment, accuracy of payments as well as outdated info that is older than seven years (negative items must be removed after seven years) and ten years (bankruptcy must be removed after 10 years). 

If you do discover discrepancies, you need to take steps to remove them. That means writing a credit repair letter to the bureau/s reporting the information. In your letter indicate what is inaccurate and why, include your report with the errors clearly highlighted as well as any sort of documentation you may have supporting your claim. Make sure you write in a non-attacking, professional tone indicating that you know what your rights are.

You should refer to the Fair Credit Reporting Act of 1996 as a guideline for learning your rights and treatment that you are entitled to regarding your credit. If you have accurate 'black marks' on your credit report, make sure you indicate that you are aware of them and that you plan on paying them. It is important that you indicate that you want the inaccurate info investigated and removed from your report. Request to be notified as soon as your profile has been updated by having an updated credit report sent to you.

If you do not want to write your own letter, we offer a free online credit dispute form for you to use. It as easy as filling in a template with your info and sending it in.

Reading Your Credit Report
Making Sure Your Credit Report is Accurate
What Are the Most Difficult Items to Remove?
Credit Report FAQ
Effects of Having Bad Credit
Re-establishing Credit
Things That Hurt Your Credit Score
Credit Report Secrets

 

 

 



 

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