Do It Yourself Credit Repair Letters are important when you discover inaccurate items on your credit report. If your credit report has a bad score then it’s going to impact every aspect of your life negatively. Whether you plan to buy a house or get an auto loan in the future, it will be a tough decision because of higher interest rates. Hence, it makes sense to work out a plan to improve the credit score. In this article we will guide you on how to fix your credit problems and get back on track.
If you search the Internet you will find extensive information on how to DIY credit repair, which can be overwhelming for you. To make it easier, we have laid down the important steps to help you sort out your financial problems.
First things first, you need to request for a free credit report from the Bureaus and examine it carefully. You may check for any erroneous or inaccurate entries yourself. Alternatively you may get this done by credit consultants, who may do this for free or charge a small fee.
After you have identified the inaccurate or negative entries, you would need to dispute the erroneous entries by writing a letter to the reporting agency. Do it yourself credit repair letters sent to the Bureaus are the easiest and most effective methods of getting negative entries removed from your credit report.
What happens after you send do it yourself credit repair letters to agencies?
The credit reporting agencies will have 30 days time to cross check the erroneous entries mentioned in the letter and respond. As per the law, the agencies must complete their investigation within the 30 days period and decide whether the reported entry should be removed or remain in the report. If the agency decides to keep the entry in the report then they must have enough evidences to support their decision.
How to send do it yourself credit repair letters?
The DIY credit repair letters disputing an erroneous entry may either be done through mail or online. If you choose to send the letter via mail then you must use a certified mail so that the date of receipt can be recorded and verified. To get your letter processed successfully and avoid any rejection, make sure you follow these guidelines:
If you are reporting multiple erroneous entries, include separate do it yourself credit repair letters disputing each entry.
Send a recent copy of the credit report with the negative entries highlighted
The content in the dispute letter should be clear and simple. It should include relevant facts
Include copies of evidences that support your claim regarding erroneous entries
If you know who has furnished the agencies with the erroneous information, send them a copy of the letter
You must keep copies of all documents and letters sent to the agencies, along with the dates sent.
Look online to find several free samples of do it yourself credit repair letters that you can use to make the process easier. You may either use the samples to draft a letter yourself or get it done by a credit counselor.