Writing a Strong Credit Repair Letter (with Sample)
Use these sample credit repair letters as templates for your formal credit repair letter. Last updated on March 11, 2019
Whether a person has a good credit score or not, an accurate credit report is essential. Some of the information found in a credit report is an arrest record, bill payment schedule and bankruptcy filing.
This information is sold to employers, insurance companies and creditors, so they can evaluate a person’s ability to pay rent, make mortgage payments, repay credit card debt or make regular insurance payments. According to the Fair Credit Reporting Act (FCRA), this information needs to be accurate. Consumers are entitled to a free copy of their credit report every year if they request it.
3 Main Credit Reporting Companies
The three main credit reporting companies are Equifax, TransUnion and Experian. Reports can be ordered from each of the three companies at the same time. Consumers should view their credit report annually to make sure it is accurate. If there are errors, a credit repair letter can be sent. The main reasons for reviewing the credit report are to protect against identity theft, find out the amount of interest a loan will cost and to make sure the information is accurate before applying for a major purchase loan.
If the consumer finds incorrect information in his or her credit report, they should send a credit repair letter as soon as possible. Both the information provider such as the organization, person or company that gives the information as well as the credit reporting company are responsible for correcting any incomplete or inaccurate information.
Prove the Inaccuracies
Credit repair letters should clearly identify each item in the report that is disputed and give an explanation why the information is disputed. Errors can be from inquiries, public records or collections. It should formally request that the incorrect information be corrected or removed from the report.
A copy, not the original, of the report should be attached to the letter with the disputed items circled. The more documents that can be added to prove the inaccuracies such as cancelled checks and proof of a paid-off loan, the easier the investigation for the credit bureau will be.
A copy of the letter and enclosures should be sent to each of the three credit agencies at the same time so that all of the credit records are updated appropriately. Each letter should have the inaccuracies and mistakes listed that are germane to the credit report from that particular credit bureau. Mistakes may not show up on all three credit reports.
Send Letter by Certified Mail
The letter should be sent by certified mail with a return receipt requested. This will enable the consumer to prove that the letter was sent and delivered. The credit bureau must respond with 30 days. If it fails to respond within 30 days, the consumer may have the right to have all the discrepancies removed.
Any consumer, who wants to improve their credit score, will be advised to first check the accuracy of their credit report. If there are any inaccuracies, this may be the quickest way to raise a credit score. Examples of a credit repair letter:
Sample Credit Repair Letter Consumer’s Name Consumer’s Address City, State, Zip Code Date of Birth Social Security number Phone Number
Complaint Department Company Name Company Address City, State, Zip Code
To Whom It May Concern:
I am writing to dispute the following information in my credit report file. The documents are attached and the disputed items have been circled.
The following items are inaccurate or incomplete. Kindly remove or correct the information:
(The following information should be given for each item in dispute) Name of Creditor, Company or Court order: Account Number: Account Description: Explanation as to why the information is incorrect:
I have enclosed copies of my court documents, payment records and (any other relevant documents should be enclosed) to support my position. Please investigate these issues as quickly as possible because they are having an adverse effect on my financial situation.
I have been wrongfully denied credit for (the type of credit denied should be stated), which was not only very embarrassing, but has caused me financial distress in other areas as well.
Thank you for attending to this as quickly as possible.
Consumer’s signature and name List of enclosures (a copy of the consumer’s current driver’s license can also be included)