Knowing how to write a credit dispute letter is valuable because you might spot a mistake on your credit report. Companies issuing free credit reports occasionally make mistakes, and, when they do, you need to tell them immediately. A properly written credit dispute letter is the best way to address all incorrect items on a report that could ultimately damage your financial standing.
The format will vary depending on the company that generated your credit report. You may be able to file your dispute online. Visit the Web sites for Equifax, Experian or TransUnion to find out how each credit bureau accepts a dispute. For example, TransUnion accepts disputes online or by letter. The benefit of a letter is that you can keep a hard copy of your dispute.
If you choose to write a letter, follow the standard business format. In the top left corner of your dispute letter, write your name, followed by your address, state of residence, phone number and record number of the credit report in dispute. Skip down three lines, and write the full address of the credit bureau or the credit report issuing company. After skipping down two more lines, write the date. Skip down another two lines, and begin the letter with "to whom it may concern."
The actual body of a credit dispute letter should be very brief. All that is necessary is to state that you have reviewed your credit report, and you found an erroneous item. Then, simply ask for the bureau to remove it from your credit report. Long explanations of credit history are inappropriate and counter-productive, and your language should be formal and succinct. After completing the body of the dispute letter, thank the bureau for their assistance, and sign your name.
Whenever you are seeking to alter your credit report, it is useful to include documentation that supports your dispute. You can expedite the process by saving the credit bureau the time necessary to look for documentation themselves. Create a copy of the documentation, and save the original. Mention the documentation in your letter to make sure they look at it.
The Value Of Credit Dispute Letters
Credit reports are examined by landlords, lenders, credit card companies and businesses. As such, it is important to have one that contains no errors. Credit dispute letters are the simplest way to correct errors on your report, and you can handle problems quickly if you know how to write them.
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