Write a Killer Credit Dispute Letter
How do I write a dispute letter?
Believe it or not there is no standard format when filing a dispute with the three major credit reporting agencies. The same is true with collection agencies. What you do need to do is construct a typed one page letter with the following information.
Your name, address, and social security number. Include the name of the account you are contesting and an explanation as to why you believe the account is being reported improperly. Sign the letter and include copies of proof of identification. Your social security card, drivers license and a utility bill in your name will be evidence enough. Send COPIES. Not originals.
What terminology do I use?
Simple is the key. Just note the account in question and write your reason for the dispute. An example would be, Sears account no. 123456 is being reported as late. I was never late with that account. Please correct this.
What is worth disputing on my credit report?
The law is very specific in that every dispute received from a consumer about his or her credit file must be verified within thirty days. If the account cannot be verified within that time period, the account must be deleted. If you believe there are errors on your credit report you should dispute them and make the credit reporting agency verify that they are correct according to law. This goes for everything reported in your file. Name, address, job status. Everything that has an error should be disputed. Make them do their job. If youre not sure an item is correct or not, if you do not remember, go on the side of caution and send a credit dispute letter.
How many times can I dispute an item on my credit report?
There is no limit to the number of disputes you are able to file. The credit reporting agency might answer your continued dispute with a letter telling you that you are filing needless claims which they deem to be frivolous. They are within the law to do so if they believe you are writing dispute letters just to make it difficult for them. This is one of the ways credit repair companies use to get items removed from your credit report.
If you have solid proof that an error exists, you should provide proof in the way of a canceled check or other evidence that account has been paid on time or as required. Send copies, not originals.
How long should I wait to see if the account is deleted?
The law gives the credit reporting agencies thirty days to verify the information in your credit file is accurate. If it isnt they have to correct it. If they cannot verify, which means the creditor does not respond to the dispute request, the account by law, must be deleted.
There are some loopholes in this time table you should know about. The main interruption in the thirty day requirement is if you piecemeal information to them. For instance, you write a dispute letter and two weeks later, you decide to dispute something else and maybe file some paperwork you might have just found to support your case.
This will pause the investigation, giving the credit reporting agency more time to complete their investigation. If you dont send to them proof of identity this will also atoll the verification process. Finally, they may not receive the letter you sent to them. Stranger things have happened so you need to protect your rights.
How do I protect my rights?
First, make sure you send everything at once. Dont send a dispute letter and a week later write another letter telling them you suddenly located more evidence of your claim. Send it all at once.
Second, send copies of who you are. Social security card, drivers license and a utility bill. If you dont send copies proving you are who you claim to be, they will pause the investigation and ask for these items. You dont want them to have any more time than what is necessary.
Third, send your dispute letter by certified mail-return receipt. Make them sign for it and when you get the green card back from the Post Office, note the date they received the dispute letter. Count forward thirty days and follow up with a letter telling them you want the account deleted.
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