Where Can I Find A Sample Letter For Credit Repair?

There seems to be a common belief that a sample credit repair letter is the one thing you need to solve all your bad credit problems. How do I know this? From the number of times this phrase or similar ones are searched for on the internet. If only things were so simple. In practice it will take rather more than a credit repair sample letter to enable someone with a low credit score to restore their credit rating to the prime level where they can enjoy loans at the lowest interest rates. This is not to say that such a letter does not have its uses, and this article will explain why this is so and the results that can and cannot be expected when a credit repair letter is employed

Someone with a bad credit record who wants to improve their credit rating will need to obtain copies of their credit reports from Equifax and the other two credit bureaus, Trans Union and Experian. You are entitled to a free copy of the three reports each year, but there will be a fee if you request extra copies in between. Once you have received them, the reports should be checked carefully for an errors or inaccurate information.

You might expect that the credit bureaus would maintain accurate records with only the occasional error. Unless they have improved dramatically in the last few years, this is far from true. A report by the U.S. Public Interest Research Group published in 1998 revealed that nearly three quarters of the credit reports contained errors of one sort or another. Of even greater concern was the finding that 30% of the reports contained serious errors that would result in credit being refused.

In the light of this you should check your three credit reports with great care and make a note of all errors. Any incorrect or outdated entries should be disputed and this is where the sample credit repair letter comes in to the picture. The law requires the credit bureaus to act on receipt of your letter, but if they consider your claim to be frivolous they are entitled to reject it. This could happen if the letter did not give exact details of the entries in dispute, or failed to supply the necessary proof.

The credit bureaus are in business to supply credit information to their paying customers who are the banks and lending institutions, so it is hardly surprising that they will not do more than observe their strict legal obligations in helping consumers who are challenging their records. To avoid having your letter rejected as frivolous you are advised to limit the number of errors you are disputing to two or three. If there are more errors, these should be the subject of a separate letter. A search on the internet will reveal many sites that can supply a sample credit repair letter. A good place to start would the the Federal Trade Commission which has a basic sample letter. The letter should cover three points; notice that you are disputing an entry, details of the error and some proof of your claim. With luck your letter will result in the entry being removed, but often it will take more than this and further action will be required. If so, patience and persistence will be the key.