It is not uncommon for there to be errors on credit reports. These errors can have a detrimental effect on your credit score. It is very important that you review your credit report at least once a year. You can obtain a free copy of your credit report from the major credit bureaus once a year at annualcreditreport.com. You will be able to download them for your review.
Once you have your credit reports review them carefully for any errors. If you find errors you need to send a letter to dispute them with the credit bureaus. The credit bureau then has 30 days to investigate. If the credit bureau is unable to verify that the disputed item is accurate, the bureau will remove the item from your credit report.
If you do need to dispute errors in your credit report, it is critical that you write an effective dispute letter. It is usually much better to write the dispute letter in your own words rather than rely on a generic form letter. The people who work at the credit bureaus have seen those form letters so many times that they have become very ineffective. It will take you more time to write your own dispute letter, but the credit bureaus are more likely to take your dispute seriously if you can present a compelling case for your dispute.
Your dispute letter should be brief and to the point yet persuasive. State the reasons for your dispute clearly. Speak in clear, easy to ready language that is not overly formal or casual. Be very matter of fact, state your facts clearly, and provide the reasons why you feel the item is in error and needs to be removed. If you have any supporting documents which support your claims include them with your dispute letter.
Your dispute letter should be formatted like a business letter. Make sure to ask for delivery confirmation from the post office when you mail your dispute letter. The confirmation will serve as proof that the letter was mailed and you will be provided with the date that the letter was received by the credit bureau. The credit bureau needs to investigate the dispute within 30 days of receiving your letter.
It is critical to maintain or repair your credit to stay in good standing and have access to the best interest rates and other forms of credit. Be sure to review your credit report on a regular basis and dispute any errors you find by writing an effective dispute letter to the credit bureaus.