Credit Dispute Letters

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If you have a problem with a lender or with a credit reporting agency, writing a credit dispute letter can help you get it solved, and can also help you get your side of the story on record. Anytime you have a credit dispute, you can write a letter. Most people write an email or they make a phone call to settle disputes. Traditional mail better because it’s a hard copy in writing, but ultimately it’s the best choice to write a polite, professional letter stating your side of the case and the resolution that you would like to see. Send it certified mail and request a return receipt. That way, you’ll be sure it gets there and can prove that it’s been received.

What to Put in a Letter to a Creditor

If you have a dispute with one of your creditors, you need to be sure that they understand the problem. It’s hard to have a dispute if the other party doesn’t know you’re disputing something, or what the actual problem you’re having really is. In a letter to a creditor, you should include ...
... basic information about yourself such as name, address, and phone number, as well as your account number. Then, be sure to be clear about the dispute. Tell your creditor clearly but politely what you see as the facts of your case and why you feel they are in error where your account or a particular transaction is concerned. Ask for them to respond, and give them a timeframe for that response.

What to Put in a Letter to a Credit Bureau

A letter to a credit bureau will be very similar to a letter to a creditor. You should give the basic information, and clearly state which account you’re talking about. That’s especially true if there are a lot of accounts on your credit report. If they don’t understand what account you’re talking about, they won’t be able to help you. Don’t bother with a timeframe for response. Credit bureaus usually have thirty days to investigate, and they will notify you of what they find.

What if it Doesn’t Work?

Even if a creditor or credit bureau doesn’t side with you, sending them a letter and requesting that it be put into your file can help get your case out there and inform them of the problem. If it doesn’t work you’ll have to decide what steps to take next. Most people don’t do anything else, but some go as far as suing the creditor to try to have the problem corrected.

Taking the Next Steps

Deciding to take legal action against a creditor is a serious matter, and it’s one that you don’t want to take lightly. There are often other ways to get the matter taken care of. Perhaps a creditor will settle the dispute for something you both can agree on, rather than require you to actually file suit. You can consult a lawyer to see whether there’s anything you can do, as well, and whether it would be cost-effective for you to pursue your credit dispute.