Credit Report Scoring Errors - How to Write a Dispute Letter

Discovering an error on your credit report can be disheartening, especially if you are applying for credit. However, you can write a dispute letter and get the issue resolved. The credit reporting agency is legally responsible for investigating errors, but you can also involve the informing party.

Be Specific With Your Problem

When you write your dispute letter, be as specific as you can about your problem. List the creditor's name and contact information. Also include a copy of the erroneous report. Highlighting or circling the incorrect information will draw attention to it.

The more information you provide the credit reporting agency, the more legitimate your claim looks. Reporting agencies don't have to look into frivolous claims. So be as clear and concise as you can.

Don't forget to also check the other credit reporting agencies' credit reports. You may find the same error and will have to write separate letters to each agency.

Site Sources And Dates When Possible

To help get your issue resolved faster, provide additional information that could be helpful. Send copies of old bills or statements that are relevant. You can also include copies of correspondences you had with the company or legal documents, such as a bankruptcy discharge.

By providing additional information, you make it easier for the agency to investigate the dispute. With detailed information, they can get to the root of the problem faster.

Keep Copies Of Paperwork

For your own records, keep copies of all your paperwork. Note dates that you sent out the letter, along with included information. This will help you keep the parties honest.

And when you do send copies, don't send the originals. You may need those later on, especially if there is a mix-up of some kind. If you have any phone conversations with the agency or creditor, also make a note of the person's name, date and time called.

While you are sending a dispute letter to the credit reporting agency, also send the letter to the informing source. Many times these parties can act quicker than the agencies.

Make sure to follow up your letter with a phone call after a few weeks. The sooner those errors get fixed, the better loan rates you will qualify for.

Here are our recommended companies for a free copy of your credit report and other credit rating resources.

Carrie Reeder is the owner of ABC Loan Guide, an informational website about various types of loans.

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