Financial Advice

Credit Repair Letters

Most people do not know what to do when they discover errors in their credit reports. Here is an overview on what you should, if you discover any such errors.

· Verify. Before you accuse the bureau of any errors, ensure that you are in the right. Go through your receipts and old billing statements and check if the errors are actually errors. You do not want to spend time disputing something that is ultimately proved to be your fault.

· File the dispute. Draft a letter and send it to the bureau that sent you the credit report. Make sure you address it to the Complaints department because it will receive quick attention.

· Format. The letter should not be something like “”hey, you guys made mistake”. It should be formal and have all the right formatting. All of your contact details like your full name, current address, phone numbers and email address should be displayed prominently at the top of the letter. This way the bureau has multiple accurate ways of responding to you.

· Detail. You need to explain the dispute very clearly. Send a copy of the credit report and mark all the items that you have a problem with. Give each item a number and quote those numbers in your explanation. Attach copies of all the bills and receipts you have that are related to the dispute. Ensure that you number these as well and refer to them by name and number in your explanation.

· Civil. Even if you’re extremely angry, you need to calm down write your letter in clear frame of mind. Be very polite.

· Check up. The investigation into the dispute might take as long as 30 days. But you shouldn’t wait for that long for a response. Make a couple of calls on and off so that you know how matters are progressing.