Are You In Need of a Credit Dispute Letter?
There are many different reasons why you might need to write a credit dispute letter. For example, if you think you have reasonably good credit, but you receive a notice from a lender that you were denied for poor credit, naturally you'll assume there's a mistake on your credit report.
You might need to contact the credit bureau over something as simple as a credit card billing error. Or to dispute harassing calls from collection agencies who are trying to collect on expired or invalid debts. Perhaps you need to negotiate for a lower payment schedule, or fight a misleading report that is attached to your personal credit report erroneously. Credit bureaus sometimes make mistakes!
Whatever reasons you may have for writing a credit dispute letter, you should be careful how you go about it. You want to take care not to anger the credit agency. If your letter is successful, you can restore credit far more quickly than you imagined. The thing to keep in mind is that if the information can't be verified, the agency is required to remove it.
Write your letter in business form, but keep it brief, simple and friendly. A lot of personal information is not required. State the facts, send copies of the disputed report, with the questionable items highlighted, and don't in any way invoke hostility by threatening them with legal action or anything else. If you don't anger them, your claim will be handled in a much more efficient and satisfactory way.
When you are ready to send the letter, be sure it goes out by certified or registered mail, and make sure to request a return receipt. The signed receipt will be sent to you so that you have proof that the credit dispute letter was received before the deadline. Also, make sure to keep copies of everything for your records.
You need to be very careful when you shop for items that will require a credit card or a loan. Do not give your full name, address, credit card, or social security number until you are actually going to make the purchase. Otherwise, each place you go could possible do a credit check on you before you even agree to buy.
This can lead to serious credit trouble, since each credit inquiry detracts from your credit score. These inquiries can knock off up to three points each! If your credit score is already on the low side, there are some credit repair techniques that can help you improve it quickly. First, bring any delinquent debts current. Your score will improve right away. Or, buy something with a department store credit card and pay it in full within two payments.
The one thing you definitely should avoid are scams by so-called credit repair companies. The Internet is teeming with them. There are plenty of dishonest lawyers around too. Remember that credit bureaus get your information from many different sources, so there is no easy fix for a bad credit history.
But, if you feel a mistake has been made on your report, then you should write a credit dispute letter to either the lender, the credit reporting agency, or both. It's not hard to do, and it's the best way to ensure that your credit report contains accurate information.
You might need to contact the credit bureau over something as simple as a credit card billing error. Or to dispute harassing calls from collection agencies who are trying to collect on expired or invalid debts. Perhaps you need to negotiate for a lower payment schedule, or fight a misleading report that is attached to your personal credit report erroneously. Credit bureaus sometimes make mistakes!
Whatever reasons you may have for writing a credit dispute letter, you should be careful how you go about it. You want to take care not to anger the credit agency. If your letter is successful, you can restore credit far more quickly than you imagined. The thing to keep in mind is that if the information can't be verified, the agency is required to remove it.
Write your letter in business form, but keep it brief, simple and friendly. A lot of personal information is not required. State the facts, send copies of the disputed report, with the questionable items highlighted, and don't in any way invoke hostility by threatening them with legal action or anything else. If you don't anger them, your claim will be handled in a much more efficient and satisfactory way.
When you are ready to send the letter, be sure it goes out by certified or registered mail, and make sure to request a return receipt. The signed receipt will be sent to you so that you have proof that the credit dispute letter was received before the deadline. Also, make sure to keep copies of everything for your records.
You need to be very careful when you shop for items that will require a credit card or a loan. Do not give your full name, address, credit card, or social security number until you are actually going to make the purchase. Otherwise, each place you go could possible do a credit check on you before you even agree to buy.
This can lead to serious credit trouble, since each credit inquiry detracts from your credit score. These inquiries can knock off up to three points each! If your credit score is already on the low side, there are some credit repair techniques that can help you improve it quickly. First, bring any delinquent debts current. Your score will improve right away. Or, buy something with a department store credit card and pay it in full within two payments.
The one thing you definitely should avoid are scams by so-called credit repair companies. The Internet is teeming with them. There are plenty of dishonest lawyers around too. Remember that credit bureaus get your information from many different sources, so there is no easy fix for a bad credit history.
But, if you feel a mistake has been made on your report, then you should write a credit dispute letter to either the lender, the credit reporting agency, or both. It's not hard to do, and it's the best way to ensure that your credit report contains accurate information.
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posted by Debt Consolidation Loan at
10:47 AM
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