Consumers turn to credit repair specialists for financial advice, to improve credit scores, and as a resource for learning how to take the right steps to ensure their healthy financial future.
Finding and resolving errors on a credit report significantly improves a credit score and can be a fast-track to establishing a higher level of trust with your clients. Many consumers have no idea that outdated or incorrect negative marks are on their credit report (and 78 percent of all credit reports have errors!).
Correcting mistakes on a credit report requires contacting the credit bureaus directly with the right information about a client and the legal rights to dispute a credit report error on the client’s behalf. Follow these tips to write a dispute letter to credit bureaus to positively change your client’s financial health and grow your credit repair company.
When you decide to write a letter to any of the three credit bureaus, it must be written on behalf of your client and include all of his or her personal information. Write this dispute letter in the first person as if it is coming directly from the client.
Include a paragraph listing each item being disputed along with a thorough description and reason for the dispute. Don’t forget to include:
- Proof of client ID (photo ID like a driver’s license or passport)
- Proof of residence (utility bill)
Clients without proper ID or proof of residence have options, too. Experian provides a list that includes marriage certificates, cell phone bills, and other documents that are acceptable forms of verification.
Know Who to Contact
Use this list with the 3 credit bureau addresses for sending disputes:
Equifax Information Services LLC
P.O. Box 740256
Atlanta, GA 30374 - 0256
P.O. Box 4500
Allen, TX 75013
TransUnion LLC Consumer Dispute Center
PO Box 2000
Chester, PA 19016
Only stamp your properly addressed envelope after you make sure you covered all of the necessary topics on the credit bureau dispute letter.
Write the Credit Dispute Letter
Your credit dispute letter should include:
- Client’s Information: This letter is being written on behalf of the client, in the first person, and needs to accurately reflect their life including their location, age, and length of credit history
- Specific reasons for removing the item: What if the credit bureau asked you “Why should we remove this item?” Make sure to list each disputed item along with an answer to why it should be removed
- Proof of ID: Provide a driver’s license, social security card, pay stub, or a W2
- Proof of residence: A utility bill, a state ID, or a driver’s license can each prove residence
- Request for removal and notification to creditors: Make sure your request is clear and the items you are not listing for removal have explanations for why they are correct
- Relevant laws: Provide a citation of the relevant legal code from the Fair Credit Reporting Act
You can easily consult with your client to obtain the majority of the data you need. Don’t forget to include the legal code inside the Fair Credit Reporting Act that gives the credit bureaus 30 days to respond to the dispute.
Advice from the Pros
Credit bureaus have sites promising fool-proof forms for dispute letters, but you are better off writing a letter that is tailored for your client and directed to the appropriate bureau. If you fill out an online form, you may waive some of your rights and release the bureau from their legal obligations.
Instead of using an unreliable form provided by the bureaus, learn how to write a dispute letter to a credit bureau you send via snail mail, ensure the accuracy of the client’s credit report, and change your client’s financial future for the best.