Drafting a Credit Dispute Letter...Do It Yourself...If You Have the Time

Credit repair dispute letters must be drafted carefully! Before drafting your final letter, take a look at a few samples and be sure to include the essential elements. These dispute letters are vital, and how they are worded can mean the difference in whether or not you are successful in getting erroneous derogatory accounts removed from your credit report.

You can easily find numerous samples of credit repair letters on the Internet. There are a couple of software programs that contain fixed samples of credit repair letters. All you need to do is simply fill in the blanks and complete the form. While there are different programs from which to choose, the procedure remains more or less the same - it's basically the format that differs.

If you're a a business owner and value your time. Enlisting the help of a qualified credit repair professional, is also an option. A qualified Credit Repair Professional can cut down on the time it would take you to research and learn the process. Most of all, the use of a qualified professional will ensure you spend your time on what matters most...running your business. For those avid "do-it-yourselfers", continue reading.

When you obtain the copy of your credit report it's important study it carefully. Your job is to will find the best of solution for improving your credit rating by looking for discrepancies on the report. Find which accounts are not being accurately reported or may not even be your accounts. These are the item you will include in your dispute letter.

You can either use your own language to write the letter or take a few lines from a sample letter. In the letter, be sure to include your name, address and social security number.

List the name of the account and account number of those items you are disputing, and a BRIEF reason for the dispute. This doesn't mean go into detail! Just state whether an account is not yours, if it's being inaccurately reported (for instance, if it show late payments when there none), of you're not sure the account is accurate and would like an investigation to verify accuracy.

In most cases you will need to send not one, but 3 dispute letters - one to each of the 3 major credit bureaus.

Also be sure to get the correct address the credit bureau that published wrong information. As the bureaus are prone to address change, you should ALWAYS visit their web site to get the current address.

Experian: http://www.experian.com
Equifax: http://www.equifax.com
TransUnion: http://www.transunion.com

Make sure you dispute negative accounts ONLY with that bureau (or bureaus) that lists them. Each bureau is a separate entity and must be dealt with as such. They each generate their own credit reports, and not all of the same accounts will appear on all 3 reports.

At the end of letter, explain that the reporting errors are damaging your credit rating, request that the credit bureau make the appropriate corrections and send you an updated copy of your credit report.

ABOUT THE AUTHOR

Shameca Tankerson is a business and personal credit expert, author of "Credit Repair for Entreprenuers", speaker, and founder of the Wealth Builders Network. Wealth Builders takes clients through a corporate credit builder system providing business owners no personal guarantee business credit. She understands how the credit system works and has a great understanding of the challenges that small to medium size business are faced with everyday due to bottom line cash flow. The Wealth Builders Team of experts are extremely successful at facilitating credit and cash flow solutions to hundreds of consumers and small to medium size businesses.