Credit Dispute Letter Information:
A credit dispute letter is a letter that you can send to the three credit bureaus to point out inaccuracies or errors on your credit report and to request that these inaccuracies or errors be removed.
In your letter you should specify which item or items there are inaccuracies or errors with, and what those inaccuracies are. Once the credit bureau receives your letter they will investigate the information in question by sending the dispute to the source of the information. If it is then determined that the information is indeed inaccurate, they will then either update or delete that account from your credit report.
Some examples of issues that you may dispute in your letter include: inaccurate information about late payments, inaccurate collections information, an account was opened in your name as a result of identity theft, or other inaccurate or false information about you.
You should send your letter to all three credit bureaus or credit reporting agencies. Those three are: Experian, TransUnion and Equifax
Your right to dispute information contained in your credit report is established under the Fair Credit Reporting Act (FCRA). The FCRA is a federal law that regulated the way credit bureaus/agencies collect information to ensure that such information is accurate, fair and private. The law regulates the way credit reporting agencies can collect, access, use and share the data they collect in your consumer reports.
It is important to know the major provisions of the FCRA and what protections it provides you with. The major provisions are:
You have the right to a free credit report every year.
You have the right to dispute errors on your credit report. Once disputed the credit agencies will evaluate the evidence you provide in the dispute, and if found to be inaccurate or false, under the FCRA that information must be negated or deleted. It is also important to note that in many situations, negative information can no longer be reported after seven years, or in the case of bankruptcy, 10 years. If you find accurate information on your report that is outdated, you can submit a dispute that the information is outdated.
Employers need your written request in order to pull a credit report.
If your credit application is denied, you are entitled to know why.
You have the right to freeze your credit and the right to seek redress in cases of identify fraud.
We provide you with three different credit dispute letters, one is for inaccurate late payments the second is for inaccurate or erroneous collections information and the third is for outdated negative information. Keep in mind you can dispute any information that is outdated, usually, negative information can no longer be reported after seven years, or in the case of bankruptcy, 10 years.