Learn to write effective credit
repair sample letters that will get the
results you want!
Credit scoring is a process which is completely based on profit, not
risk. Banks will take those customers who will prove good for them in
the future, not on what’s profitable for their customers. People who
are solvent are rejected simply on the basis that they may be unlikely
to act in a way that’s profitable for banks.
The credit crunch has magnified this and resulted in too many people
drowning in debts they can no longer control. The only good thing is
that people can access reports from certain companies to check their
credit scores. Any inaccurate information causes people to be rejected
for services for which they would normally be approved for.
If such inaccuracies exist, a person can dispute it by writing a credit
repair letter to the credit bureaus. However, to make any letter
effective, there are several things that must be kept in mind.
Components of an Effective
Credit Repair Sample Letter:
- Contact Info
- In any credit repair sample letters, you will see that it’s important
to make sure you provide your full name, current address and telephone
- Start by detailing the inaccuracies reported by the credit bureau on
your credit report.You should start by pointing out anything that is
misleading, inaccurate or simply not relevant to you.
- Copy of
Credit Report - To make sure that your words have an
impact, send along a copy of your credit report and highlight any
errors on it. Attach with these any statements or receipts that support
your claims. For example, if you’re disputing that you have not paid
off a certain debt, it would help to include a receipt that shows that
you have. Provide basic information and let the bureau contact the
creditors to verify it. In credit repair sample letters, you will also
notice that it is important to request politely that any inaccurate information be
removed, updated or changed.
- Fair Credit
Reporting Act - The important thing would be to get across
the fact that you are aware of the federal Fair Credit Reporting Act
(FCRA) and debt
collection laws. Ask that the credit bureau
thoroughly investigate your claims. Also, make sure to ask that if your
claims are found to be true, then any and all creditors who have
received your credit report in the last six months, should receive the
new, amended copy of your credit report. Request that they also send
you the new report.
- 2-3 Dispute
Per Letter - Another thing most credit repair sample
letters explain is that it is NOT very helpful to mix different types
of disputes in one letter. If there are 2-3 pieces of wrong information
in your credit report, then write a letter for all three to
dispute the incorrect information. But writing about four, five or even
more items to dispute, makes you come across as frivolous. If that
happens, no investigation will take place.
Report - It would also help to point out that as required
by the FCRA, the credit bureau should send you all the details of their
investigation if your claims are found to be true. This should be
within 15 days of the investigation being completed.
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- Concise and
Informed - By having a look credit repair sample
letters, it becomes clear that your letter should be concise,
to-the-point and highlights everything in an orderly manner. Most of
all, you should come across as someone who knows exactly what you are
doing and that you've done your research and know your credit report
and credit score