How To Write A Letter To Your Creditors Disputing Your Debt

How To Write A Letter To Your Creditors Disputing Your Debt

In order to repair your credit, you will first need to know what your credit report says about you. The first step in credit repair is ordering copies of your credit reports from the three major reporting agencies: Experian, Equifax, and TransUnion. Once received, you need to carefully review all the information contained in the report.

Check for accuracy line by line. Because the reports are subject to human error, it is more than likely your credit score has been decreased due to erroneous information.

After discovering any information you would like to dispute, you’ll need to construct a dispute letter and send it to the credit bureaus to dispute the information. Once received by the credit bureaus, each dispute must be investigated, and contact will be made with your creditors.

Remove Tradeline If It Can’t Be Verified

If the creditor does not reply to the request for information, the credit bureau may drop the data from your report entirely if the debt is not verified. If the creditor does respond within the 30 day period, the information will be updated or left as is on your report. The credit bureaus will also send you written correspondence about the results of the investigation.

If information is verified by the creditor to the credit bureaus that you do not agree with, you’ll need to construct a letter directly to the creditor.

Send Your Letter Certified Return Receipt

Once the letter has been completed and the documents are attached, send it via Certified/Return Receipt Requested through the US Post Office. This ensures that your dispute letter was delivered, and you will receive confirmation of receipt. Once you receive confirmation, wait 3–4 weeks before following up with the creditor by phone if you haven’t received any other correspondence.

By disputing creditor information that is not accurate and having the reported data corrected, you can actually help repair your credit score by raising it a few more points. Since every consumer with a credit history is entitled to receive one free annual copy of their credit report, it is advisable that you check in with your credit at least once a year to make sure all the information is accurate and complete.

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