Credit Repair Letter
A credit repair letter is also referred to as a dispute letter. This is a how you remove a negative mark on your credit report with the credit bureaus.
By sending this letter you are telling the credit bureau that the listing is incorrect and should be removed. Upon receipt of this letter the bureaus will conduct an investigation into the listing. Be aware that a separate letter must be sent to each credit bureau.
In your letter you must include the disputed item, the reason for the dispute, your name and address. Common reasons for a dispute are; account is paid in full, not your account, information wrong, item out of date and more.
Congress passed the Fair Credit Reporting Act to help protect you from the credit bureaus. This law forces the bureaus to investigate a dispute and remove any inaccurate or unverifiable listing from your credit report. Consumers had no method of removing a negative item from their credit before this law.
The brick wall that many people face is to get the credit bureau to deem your letter a “valid” dispute. This is because it will only cost the bureaus potential profits to conduct investigations.
Thus the credit bureaus will avoid conducting an investigation and do this through stall tactics. These stall tactics are in place to frustrate you and force you into giving up on the dispute process. It is common for bureaus to respond to a dispute letter with another letter that requests more information about the listing.
Also you should know that under no circumstances should you ever submit a 100 word statement on your credit report. This is a place where you can provide a brief statement next to a negative mark so thats why a credit dispute letter makes sense.
In the past this space was where you could provide the details and reason for what happened. However today if you submit this statement you are only acknowledging your guilt to the credit bureaus.
If you do this it will be next to impossible to ever remove this mark from your credit report. The credit bureaus will deem any future dispute letter challenging that mark as frivolous.
With patience and some organization you can have negative items removed from your credit report. However it is in your interest to consider a credit repair service if you have multiple negative marks on your reports.
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