Recently, a lot has been exchanged regarding the top 3 credit bureaus, the report these credit bureaus create, and their information source. ‘
However, we have not been talking much about creating a dispute. Let me start this conversation by setting up a good example.
Suppose there is some unauthorized entity who created your account using your name. On the other hand, you have not put a freeze on your credit report by sending a request to credit bureaus.
Hence, there is a possibility that any negative items created by a duplicate account may reflect in your credit report, affecting your credit scores.
When you access your report and find such inaccurate negative information, there should be some way to solve it. Hence, all the top credit bureaus provide us with a facility to dispute information present in our credit report.
Thus, we must learn how to create this dispute letter, and I will try to cover as much as I can regarding the credit dispute letter template here.
Key takeaways from here
- Understand what a credit dispute letter is.
- Step-by-step guide for credit dispute letter template
- Know which all items you can dispute in your credit report.
- Know how to write a credit dispute letter.
- How can a credit repairing agency help you with the process?
What does it mean by a Credit Dispute Letter?
As said, if you have any disagreement with any information present in your credit report created by the top credit bureaus, you can send a credit dispute letter to all the bureaus. Once you dispute, credit reporting agencies are bound to investigate.
They have to verify & update/delete your information from the credit report within 30 days.
Please note – It is not necessary to send your dispute letter to credit bureaus. You can send it to your creditors too.
Guidelines to create a credit dispute letter
All of us have the right to have a credit report with fair & accurate information. We need to move properly to ensure that we do not lose the opportunity to dispute and correct the information.
Remember, if done in the right manner, there are chances of improving your credit report, thus improving your credit score. Whether you plan to do it on your own or hire a credit repair agency, you will see a positive outcome if done correctly.
In order to help you create a dispute letter, we have covered everything concerning credit dispute letter templates here. Using this guidance, you are optimizing the chances of success.
Whether you are a victim of identity theft, or someone stole your credit card, or someone created your duplicate account, you have a legal right to dispute information in your credit report.
Which all items can you dispute on your credit report?
You can create a dispute for any items displayed in your credit report, reported by the credit bureau. It includes,
- Personal information like name, address, and social security number
- Any credit inquiries
- Any Charge-offs
- If it shows bankruptcies
- If it shows late payments
However, let me ensure that it is not limited to this. There could be much other false information you can dispute. But, please ensure you don’t dispute positive information. It is next to impossible to get back those positives in your credit report once removed.
How to write a credit dispute letter?
There are some simple steps you need to remember while writing a dispute letter. I feel you can memorize it from a future perspective.
- While you are writing your credit dispute letter, avoid mentioning the laws & procedures. It is better not to act smart in front of credit bureaus, as they know about all these laws.
- While writing your dispute letter, you must sound kind. There is no need to scare them with combative language. It will not turn the tables for you.
- You can send a copy of your documents, verifying the right information. Please, do not send any original documents. Original documents are for our records.
- You need to mention it clearly regarding the items you are disputing.
- You need to ensure that your letter is concise & accurate. I always proofread my letters before sending them.
Please Note – While sending your dispute letter, you need to attach a copy of your,
- Passport or State-Issued ID or Driver’s License.
- Social Security Card Or Pay Stub Or Utility Bill.
Credit Bureaus need only two forms of ID to investigate.
It is unnecessary to provide evidence of why you are creating a dispute. However, if you feel that evidence will help you clear the error, you can send it with your dispute letter.
The documents of evidence could be,
- A letter you receive from your debt collector regarding your payment
- A letter that confirms that you have paid your debt amount.
- A letter that confirms you and the creditor agreed on a settlement.
Once you have all this evidence in one place, make sure you cross-check and blackout all the sensitive information like your social security number.
Additionally, while sending your letter, ensure you attach a copy of your credit report with negative information marked with a circle. This will help credit bureaus while referring to your data.
I feel that your letter must be as optimized as possible to get a positive outcome.
Information that might help you with your Credit Card Repair
Improving your credit score is a challenging task. Credit Saint is a credit repair company that helps you improve and boost your credit score by building a positive payment history. Credit Saint helps you with understanding of removal of any late payments. Credit Saint reviews your credit report and if you notice any hard enquiries, helping you to get those items removed. Alternatives to Credit Saint are Disputebee, Lexington Law & Credit Repair Cloud.
Sample Credit Dispute Letter
You can find the sample of the credit dispute letter below. Remember, you need to keep it short and simple. There is no need to keep it the same. You can trim your content as per the circumstances.
You can use this credit dispute letter template to create your dispute against any credit reporting agency. It is not just meant to send a dispute to Equifax.
You can use the same template to send disputes to TransUnion and Experian.
For your convenience, I am listing the mailing address for the top 3 credit bureaus here.
Equifax Address
Equifax
P. O. Box 740241
Atlanta, GA 30374-0241
Experian Dispute Address
Experian
2220 Ritchey
Santa Ana, CA 92705
TransUnion Dispute Address
TransUnion
P. O. Box 1000
Chester, PA 19022
Since we are in the digital age, we might also wish to know whether it is possible to dispute online. Also, is it possible to create a dispute on the phone? Let me now answer these questions.
It is possible to dispute your credit reports online. Equifax, Experian, and TransUnion provide the facility to dispute online. However, it is not considered the best option to do so. It is not as effective as using dispute letters.
Is it possible to Dispute your credit reports over the phone?
Yes, it is possible to dispute your credit reports over the phone. But it will not be a wise option to do so. You will not have any paper evidence regarding the dispute to confirm your actions.
What are the worst cases while filing a dispute?
There are unfortunate situations when creditors will take a step back while removing negative items. They might take such actions when you try getting paid off for any debt settled in the past.
They might delay the procedure, as they need to complete the entire investigation in 30 days.
In such a situation, you can bring credit bureaus in the picture and let them know the actions taken by creditors.
You might have to raise several letters to get negative items removed from your credit report in such a case.
Or, if you are tired of continuing with the activities on your own, you can hire a credit repairing agency, who can perform all these actions on your behalf.
Final Thoughts
A credit dispute letter is your right, and you can file as many credit dispute letters to update the inaccurate information in your credit reports reported by credit bureaus. In any circumstances, no one can take this right away from you.
However, in case of any unfortunate circumstances, you can connect with the credit bureaus for help. You can even find the best credit repairing agencies like Credit Sesame, Credit Karma, etc., to follow the procedure on your behalf.
FAQ
Under section 623 of FCRA, you are allowed to dispute information in your credit reports directly to creditors instead of credit bureaus. Hence, it is called a 623 dispute letter.
If your credit dispute is denied, the fair credit reporting act gives you the right to add a 100-word consumer statement. It will explain your position against the report.
You need to send your credit dispute letter to credit bureaus who reported the erroneous information in your credit report.
Yes, your credit dispute can be denied. However, there is no limit on the number of credit disputes you can raise during your lifetime.