When it comes to issues that involve your personal credit, consumers have the right to dispute errors as stated in the Fair Credit Reporting Act (FCRA). Disputes are usually done by sending credit repair letters. On this post, let us take a look at the different types of credit-related dispute letters that you can send, depending on the situation.
Credit Dispute Letter
If you ordered a copy of your latest annual credit report from a credit reporting agency and you notice errors or unauthorized charges in one of your accounts, you should immediately send a credit dispute letter to the bureau that issued your report.
Upon receiving your dispute letter, the credit bureau must begin an investigation right away. If your dispute if found valid, the necessary corrections will be made in your credit reports and the bureau will notify the other two credit bureaus about the updates made in your file. You will also receive an updated copy of your report for free. The process can take up to 30 days after your letter has been received.
Follow-up Credit Dispute Letter
After sending your credit dispute letter to a credit bureau, you should receive a response from the bureau after 15 days, informing you that an investigation has already been started. However, if you do not hear anything from the credit bureau within 15 days, you should send a follow-up credit dispute letter to make sure that your complaint will be given attention.
Remind the credit bureau of its mandate to act accordingly to all consumer disputes as stated in the Fair Credit Reporting Act. Don’t forget to enclose a copy of your original dispute letter in your follow-up letter.
Cease and Desist Letter
If your account has been passed on to a debt collection agency, the agency will notify you regarding your debts. You can request the debt collection agency to stop contacting you about your debts. However, sending a Cease and Desist letter does not change the fact that you have debts to pay. The purpose of sending this letter is to save you from the stress and pressure of dealing with constant debt collection. Needless to say, it is sill your moral obligation to pay your debts.
Dispute Or Debt Validation Letter
When a debt collection agency contacts you about your debts, you should send a validation letter right away. In your letter, ask the agency to provide you with a written and detailed report of your debts. This is important to be sure that you are not being made to pay debts that are not yours.
On Sending Credit Repair Letters
Always send your letter via registered mail so you can have proof that you sent such letter. First Class Mailing will also ensure that your credit repair letter will reach the intended recipient and not get lost along the way.
When writing credit-related letters, be professional. Keep your letter short, clear, and straightforward. Do not include irrelevant details. Last but not least, proofread your letter before printing and sending.
About the Author:
Suzy Vanstrusen is a credit analyst and a writer on the website EZCreditRepairSolutions.com. She has been providing consumers with tips and wise information about credit repair as well as helping you out more with your bad credit loans. Copyright © 2011
- Writing an Effective Credit Dispute Letter
- How To Write A Credit Dispute Letter that Works
- Tips On Writing A Credit Repair Letters
- How Do I Write a Credit Dispute Letter?