How To Make Your Credit Dispute Letter Work
The Fair Credit Reporting Act gives consumers that right to dispute negative records in their credit report
. By sending a dispute letter to the credit bureau, errors, negative charges or remarks can be verified and if found inaccurate, will be corrected from your report.
However, in order to ensure positive response from the credit bureaus, you need to make sure that you will send a proper letter of dispute. In this article, let's discuss the step-by-step guide on how to write and send an effective letter.
Get your credit report. The first step is to order a copy of your report from the three major credit bureaus (Experian,Equifax,TransUnion). Take note that sometimes, these reports show different results because each bureau makes it own report so it's important to get a copy from all three for verifications purposes as well.
Examine. Check your report for unauthorized charges, false details or outdated remarks which can give pull down your score. If you do find errors, it's time to prepare your dispute letter.
Specify the items in dispute. You must clearly point out the item in dispute in clear details. In your letter, state the exact information that you want to be verified or you think is incorrect, and include information that can help support the error. Include a photocopy of your report with the items on dispute marked or encircled.
Send a separate letter for each error. If your credit report contains more than one error, you must send out a separate letter for each dispute. Credit reporting agencies may ignore your request if you try to dispute several items at once. However, if you want to correct erroneous details under the personal information section of your report, you can point out the details to be corrected in the same letter.
Make it personal. You can take a look at dispute letter templates online so you can have a better idea on how to write one but never send out the exact template to the credit bureaus. Some consumers use templates, changing the details such as the name and the amount of charges in question. However, using a template is proven to be ineffective. If you want to ensure a response, you must write a personal letter to the bureau.
Make it concise. There is no need to make a very long explanation as to why you think the charges are wrong. All you need is to point out the errors in your report that you want to be corrected.
Know your rights. Under the law, credit reporting agencies are required to act upon the consumer's request by conducting an investigation on the matter. Bureaus are given 30 days to investigate and respond to the dispute.
If your complaints are found to be valid, the bureau will send you to an updated copy of your report for free via registered mail. On the other hand, if your dispute has been found to be invalid, you should still receive a letter from the bureau informing you about the result of the investigation.
If you do not receive any response after 30 days, send them another letter, reminding them of their duty to respond to your dispute. If this fails, you can file a complaint to the FTC.
Copyright (c) 2009 Suzy Vanstrusen
by: Suzy Vanstrusen
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