Tips on Writing a Correct Credit Dispute Letter

Tips on Writing a Correct Credit Dispute Letter

There are times when even official records are inaccurate. They may be relatively unusual but a company can also give the wrong information about someone, or give somebody else’s information on another person’s document. This happens fairly often in credit reports. Credit bureaus aren’t immune to being imperfect entities, especially when there’s a lot of people (think around 200 million active files) that they need to track and tons of requests for credit reports as well.

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Having incorrect information on your credit report could be tantamount to having a not-so-great credit rating. This could also mean that there is an attempt to use your personal information to establish new credit, which further means that somebody is trying to steal your identity. Filing a dispute on incorrect data is your only recourse if this happens and this entails more work for you if you don’t know what you’re doing of course. So here are some steps on how to write the correct credit dispute letter.

First off, you need to pull your credit report from one of three credit bureaus. These three bureaus are Experian, TransUnion, and Equifax. You can pull a credit report from each bureau for free once every year. If you need an updated report apart from the free one, you will need to purchase it from them. Inspect the data entered into each of these credit reports and take note of the incorrect entries and which bureau the report came from. This will be important later on.

When inspecting the information, take a look at the public records, collections, and adverse history sections of the reports. Any information on these sections are items of concern. Inspect everything, including dates and amounts, not just the items themselves. You can start drafting your letter once you have all the incorrect entries listed.

You have to write a letter for each credit bureau that entered incorrect information on your credit history, for a total of three letters. Write your full name, address and social security number at the top of the letter. If you know who you should address the letter to, then, by all means, address the letter to that specific person. However, I am assuming you don’t so it’s okay to address the letter “To whom it may concern,”. The first paragraph can have the rationale of your letter. You can state that you have detected some incorrect information on your credit report and you would like them to conduct an investigation. The next paragraphs should list all the items that have incorrect entries. You should list all the incorrect entries in a single letter to the credit bureau to avoid your application dinged as multiple requests.

End the letter by signing your name and listing all documentation supporting your claims. Enclose a copy of your ID that lists your name and address very clearly. Also, attach all the documents that prove that the interactions that you are disputing are incorrect. The request and the response will be going through mail to ensure there is proof of receipt. Even then, you have to make a copy of the letter and the documents you attached.

This sounds like a lot of work, and Blue Water Credit – San Francisco credit repair company committed to giving our customers the best in credit repair services, including doing your credit dispute for you. Visit us at learn more about how we can help get your credit repaired.

Ways of Ruining your Credit that Seems Harmless

Ways of Ruining your Credit that Seems Harmless

There is a lot of information on the internet regarding ways to repair, maintain, or restore your credit score. Many are actual legit information that you can use, while some others are just misinformation. Listening to advice from friends and family can be just as bad since there are so many conflicting opinions.

There are moves you are thinking about that are seemingly innocent in your eyes but can harm your credit score. You may not realize it at the time but the fall out could be worse than you expect. Knowing which of these mistakes you can avoid will save you from a lot of anguish and headache in the future.

credit history 1 - Ways of Ruining your Credit that Seems Harmless

Maintaining a zero score on your credit cards

There is nothing wrong with paying your debts fully and on time as you do on credit cards. However, paying your monthly credit card dues and keeping a zero score does not help your credit report any. Paying off your credit card every month will not be a factor in your credit utilization rate. Oddly enough, leaving a bit of balance on your credit card payments each month can help to increase your credit scores by helping to maintain the optimum credit utilization, while keeping your balance zero every month may lower your score.

Keeping your credit card balance high

This is the opposite of having zero balance month after month, and it has the expected results on your credit score. High balances on credit cards increase your utilization rate, and the higher the credit utilization, the less credit-worthy you are in the eyes of potential lenders. A high credit card balance can increase your utilization rate to more than 35%, more than the maximum rate to be considered a low-risk borrower. This could result in higher interest rates when you apply for loans and overall a more difficult financial situation.

Lowering your annual percentage and closing old accounts

While it is possible to negotiate for a decrease in the annual rate on your credit card, this is only a good idea if you make sure that your creditor doesn’t lower your credit limit as well. If your credit limit is lowered, this will affect your credit utilization rate immensely and could lead to a drastic drop in your score. This is also what happens when you close old credit card accounts. It shortens your credit history, lowering the number of your established accounts, thereby also leading to a decrease in points.

Applying for new credit lines

This doesn’t mean that we urge you not to apply for any new credit. By all means, apply for one if you want. This simply means that you should never apply for too many new credit lines at the same time. This shows up in your report as hard inquiries and an unusually large number of hard inquiries on your report could be interpreted as you not being credit-worthy.

Our professionals at Blue Water Credit – San Francisco credit repair company have years of experience in the business and will be able to give you great advice and service on restoring your credit score. Reach out to the trained analysts employed by the top San Francisco credit repair company by going to Blue Water Credit now.