As you get started with learning about fixing your credit reports, you will find out that there are a variety of types of credit repair letters you may need to write. Unfortunately, there is no perfect credit repair letter that will work for all people in all circumstances. Instead, you’ll have to find the appropriate letter for your situation.
Credit Repair Letters
Listed below are a few types of credit repair letters you may come across as you attempt to fix your credit reports. This is not an exhaustive list, but it does give you a general idea of the variety of letters you may need to write.
Credit Bureau Dispute
This is the letter that most people think of when talking about credit repair. The credit bureau dispute is your message to a credit bureau telling them that you would like them to confirm the accuracy of a listing in your credit reports. In a credit bureau dispute, you are basically telling the credit bureau they need to prove that an item is accurately listed on your credit report. If they cannot do so, then the account must be corrected or removed.
By law, you can dispute items that are inaccurate or, in your opinion, give others an unfair impression of your creditworthiness.
Credit Bureau Dispute Follow-up
The same laws that grant you the right to dispute your credit reports also state that the credit bureaus are supposed to process your dispute and follow up with you within 30 days, but this often times does not happen. You may need to follow-up your initial dispute letter with another letter stating that you have already sent in a dispute, that you should have received a reply by now, and reiterating which item or items you are disputing. This letter lets the credit bureau know you are serious about correcting your credit and you will not give up just because you don’t hear back.
Goodwill Letter
Not all negative items can be disputed with the credit bureaus. In addition, just because you dispute an inaccurate listing doesn’t necessarily mean it will be deleted. Sometimes you will have to work directly with your creditors.
The goodwill letter is a non-confrontational letter to creditors. In it, you are asking nicely for the creditor to stop reporting the negative item. To help your case, you may mention your current good standing with the creditor or request sympathy because of the effect the negative item has on your credit score in your request for the deletion.
Debt Validation Letter
If a credit bureau dispute is ineffective and the creditor isn’t swayed by your attempt to play nice, it’s time to get rough.
By enforcing your rights under a number of consumer protection statutes like the Fair Debt Collection Practices Act, you can make creditors and collections agencies have to jump through specific hoops to prove that a debt is owed. Just like with the credit bureaus, if they are unable or unwilling to do so, the negative items must be removed from your credit reports.
Getting Assistance with Credit Repair
After spending some time looking into credit repair and credit repair letters, or even after getting started repairing their own credit, many people realize how difficult credit repair can be. Fortunately, there are many quality credit repair companies who have the knowledge and the experience to help make the process easier.
