First off, the reason you want to write a dispute letter is to get the bureaus to remove negative information from your report. The reason why many people are often denied by the banks. When the banks discover that there are negative accounts listed on their reports.
Some of the time, negative accounts may have served their time on your report and it is time they are removed. Also, you may have settled an account fully and the bureaus may still forget to reflect the settlement in your report. What you should do in any of these cases and others which may hinder your chances of when you are considering getting credit from financial institutions is to write a letter to challenge any unverifiable information on your report.
The letter you send will be a big step in getting negative accounts deleted from your account and at the same time increase your scores.
When you write your challenge letter, the most important thing other than the recipient address and your personal information, relevant to the dispute process is the subject matter of your letter. What I mean by subject matter of your letter is the main message that you want to get across to the agency as well as the specific account detail which you are disputing.
If you find any accounts that you are not familiar with on your report, in your letter state that the account “is not mine.” Tell them that the Fair Credit Reporting Act which was updated in December 2003 makes it compulsory for them to delete negative accounts that are not yours from your credit report.
Also tell them that the same FCRA makes it compulsory that inaccuracies and errors are corrected in your report. Be sure to write in your own words in order to make it authentic. Every day, the agencies receive hundreds of letters and many of them are written similarly. You obviously want them to attend to you as soon as possible, and that is the reason you are reading this article.