What Kind of Letters Will Help Me Fix My Credit

Simple Credit Letters to dispute an account are chosen based on the type of incorrect information that has been reported. Even simple errors can affect your credit score. The worst case is when you have a fairly common name and someone else with a similar name shows up you your credit report in error. This situation happens more times than any of us would expect. According to the credit bureaus themselves, there an average of 87% of credit users that have mistakes on their credit reports.

The most common error, as I said is when your name is similar to someone else. For instance, John M Smith and John E Smith and you are not John E Smith. If the John E Smith that is on your report has some bad credit then it can very easily show up on your credit bureau. Why, you ask. You know this other Mr. Smith has a different Social Security number so why does this happen?

A lot of the credit companies use more and more OCR software which automatically tries to read letters or information from a creditor. These auto readers are not as accurate as the human eye. However, they are being used more and more because the credit bureau companies cannot afford to hire the number of people necessary to read the thousands of letters by hand.

Now, think about the possibility of a new person working for a creditor that simply mistyped the middle initial and didn't proof read it. The electronic tape that goes to the credit bureau from that creditor will contain an error. The credit bureau assumes that it is correct because it came from some lender that gave you a car loan. That lender must be right, yes? But that simple error can cause you to have a mess to clean up by disputing the offending account.

Check your Credit Every Year!

You should obtain your credit report at least once a year in order to confirm that the accounts on your bureau and yours and they are reported correctly. If you know you didn't miss a payment, but the bureau is showing a 30 day late on something then you should dispute it immediately. You should write a letter to each bureau where this shows up (it may or may not be on all three bureaus), and attach a copy of proof of your payment for the dispute.

The credit bureau must then contact the lender or creditor and request that they provide evidence of the missed payment. The bureau may not get a response from the creditor within the 30 day required period and may have to send you a letter saying they need another 30 days to receive the answer from the creditor.

Then, and this is the good part in some cases. If the creditor either does not respond (if they are no longer in business or have lost the record) the credit bureau is required to remove the incorrect information in your favor, because you provided your proof. However, be aware that you may have to send the proof to the bureau more than once.

Simple Credit Repair Letter!

Put the date at the top of the letter.

1. Address the letter to each bureau separately.
2. Put your name on a line under the address.
3. Put the name of the Creditor and the Account number under your name.
4. Write your salutation - Dear Sir or Madam.
5. In a simple sentence, state what is wrong with that account.
6. Write a reference to your attachments (item that you will attach) - "please see attached - "
7. Make a request (demand) that the bureau research the misinformation or remove the mistake.
8. Sign the letter

Now, attach a copy of just the one page of the credit report with the item highlighted. The attach a copy of any of your proof that the item is incorrect. Mail a separate letter with attachments to each bureau.

DIY credit repair is easy, if you don't let your credit report fill up with a lot of incorrect information that you have to dispute all at once. You should take the time to check your report every year.

There are Free Options to check your credit report.

For resources on where to get your free credit report read here! Get a copy of your credit report you will need some resources to know how to read the information on it. That way you can determine what and where certain information is reported. There are several places you can go to get this information so you can make sense of what you are reading. How to Read My Credit Report will provide a good reference and give some of the basics. You can also look at other resources to get samples of other simple form letters that can be used by visiting http://www.fixcreditfast-easy.info - you will also find further information on other ways to repair your own credit. Article Source: http://EzineArticles.com/?expert=Leslie_Personeus