Credit Repair Letters

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.

This letter informs the credit bureaus that a mark is incorrect. The credit bureaus upon receipt of your letter will begin an investigation. A letter must be sent to each credit bureau that shows the disputed mark on your credit report.

In your letter you must give the specifics about the listing. This includes why the listing is incorrect and should be deleted. Reasons often include; account is paid in full, item is out of date, reporting the wrong account balance and more.

Yes,

The Fair Credit Reporting Act was passed in response to complaints from people having inaccurate negative marks on their credit report. Up until this law was passed people had no way of challenging a negative mark on their credit report.

The difficult part of disputing a mark is getting the credit bureaus to deem your dispute letter valid. The way it works is the credit bureau will spend money that would otherwise be profit investigating disputes.

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.

You should also realize that a 100 word statement on your credit report will not help you under any circumstances. This is a place where you can provide a brief statement next to a negative listing.

In the past this was used to explain what happened. However today if you fill in this statement you are only admitting guilt to the bureaus.

This will cause the credit bureaus to deem any future dispute letters as frivolous and they will be ignored. Thus you have no way of removing the negative mark and it will damage your credit score for years to come.