The purpose of this letter is to challenge or explain an unfavorable entry in your credit report. When you receive your credit report, you should review it carefully for any mistakes and information that is more than seven years old (ten years for bankruptcy). If you do not understand something, ask. The credit bureau staff is required by law to explain your report to you. Correcting Mistakes
If there is a mistake or you wish to challenge an incorrect entry in your credit report, use this Challenge to a Credit Report letter. You have a right to have your response to a negative entry on your report made part of your credit report. Usually the credit bureau will advise you to contact the party that provided the negative information directly. If there are mistakes, you can take the following actions:
- Notify the credit bureau of the problem by using this letter. Provide as much information as you can about what is wrong with the report. The credit bureau must investigate the disputed information at no charge to you. The credit bureau must correct any mistake or delete any information it cannot verify.
- It may be helpful to contact the creditor directly to ensure that the creditor's records are correct.
- If the above steps do not resolve the problem, you can file a written statement of up to 100 words with the credit bureau providing your explanation of the problem. This explanation will be included in your credit report.
Copy of the Credit Report
If possible, provide the credit bureau with a copy of the actual credit report, identifying the incorrect or challenged entry. There are instances in which you may not have a copy of the report. In such cases, identify the parties, the nature of the account, the outstanding balance on the account, and the nature of your complaint so that it can be easily identified. Respond to the negative entry in your credit report file by explaining why the entry is incorrect. For example, explain that the outstanding balance is incorrect or payment has already been made. Provide all information which might be relevant and useful to the credit bureau when investigating your complaint. |