A credit letter is written by an individual or company to a credit reporting body to correct an error, dispute a record, or dilate upon a claim, in the credit report sent to the individual or company.
Most credit letters are written to correct errors in one’s credit report, and such letters are normally referred to as Credit Dispute Letters.
A credit letter is written to show one’s disagreement about a particular figure or information in the credit report. Documents to support the dispute or disagreement are normally sent alongside or attached with the credit letter.
Credit reports are sent by reporting agencies to companies on request. Credit reports are important because they like the “words” for one’s credit score and credit worthiness.
Whether you are disputing a record or correcting an error, the same procedures are used to write a credit letter.
Here we would be handling a credit dispute letter used to correct errors in a credit report.
How do you write a credit dispute letter?
Credit letters are like normal formal letters, but they have something extra to go with them.
The first step to writing a credit dispute letter is to identify the error in the credit report sent to you. It is the responsibility of the credit report recipient to fully scrutinize everything written in the report to ensure there is no error, in order to avoid being giving a wrong “credit or financial iamge”.
Do not speed-read your credit report in order to fully understand it and identify errors, if any.
After identifying an error in the credit report, get all necessary documents to dispute it. These documents should be legible, easy to understand, and should specifically address the issue. In cases where there are multiple documents supporting your claim, you may want to explain each of them in the letter.
For a company, the company letter-head paper might be used in writing the credit letter.
Your address should come first, date, then the address of the reporting agency or body.
A salutation like “Dear Sir or Dear Madam” should follow. In some cases, “To Whom It May Concern”, might be used.
The first paragraph should tell the reporting agency why you are writing. You should tell them you are writing to dispute a particular claim or information; then name or quote, and explain the claim as indicated in the credit report sent to you.
The second paragraph should be about reasons you are disputing the claim and how you know the claim is wrong.
The third paragraph tells them about the documents you have to support your dispute.
Finally, conclude the letter and after the conclusion, list out the attached documents supporting your dispute.