YFSCREDIT.COM – Day 8 – Let’s Fight!

Hey Wealth Builder! It’s time to get that inaccurate information off of your credit report. As we talked about on Day 6, the 1st letter should always be about correcting your personal information.

The 2nd letter should be about non-personal inaccurate information.

I wanted to take a day to make sure that you sent out your letter to correct your personal information!

It’s important to correct personal information before anything else because it will make it much easier for you as you’re challenging the inaccurate information in the future.

Step 1: Grab your colorful credit report
Step 2: Identify the inaccurate information
Step 3: Prep your letter
Step 4: Include your proof
Step 5: Send the letter to each credit bureau.

You see how simple this is? Well, it’s going to be easy because we did the hard work in the other lessons, but you get my point.

Ok, so what do I mean by step #4? (Which is Include your proof.)

Well, this means if you’re mailing address is reporting wrong we need to include proof of our correct address. This can be your drivers’ license and cell phone bill with matching address.

If you have a medical collection that you know you paid, this can be the explanation of benefits.

If you paid your credit card on time and they are reporting it late for some reason, this is your credit card and bank statements proving that you paid it.

Remember, with the credit bureaus your information is being reported by data furnishers who pay a fee to upload your data.

The credit bureaus will take what they put on your report at face value because these folks have paid to put it there.

You’re worth more money to your creditors with bad credit, so it’s on you to ensure what’s maintained by the credit bureaus is correct.

Let’s prep our letter concerning personal information.

Remember, I included a sample letter in the facebook group files as well.

The letter will break down into nine parts.

  1. Your Name

  2. Your full address

  3. Your Bday

  4. Your SSN

  5. Credit Bureau Address

  6. Current Date

  7. Your Dispute Language

  8. Your Proof

  9. Your Signature

Here is a sample letter to use

{YOUR NAME}
{YOUR ADDRESS}
{YOUR BDAY}
{YOUR SSN}

{CREDIT BUREAUS ADDRESS}
{CURRENT DATE

To Whom It May Concern,

This letter is a formal complaint that you are reporting inaccurate and incomplete credit information on my credit report.

I understand that mistakes happen, but your inaccurate information could hurt me in future and cost me a job, dream house, car or force me to pay higher interest rates and frankly I have enough stress as it is.

Please remove any names, addresses, and employers listed on my credit profile that are not the following:

{YOUR NAME}
{YOUR CURRENT ADDRESS}
{YOUR CURRENT EMPLOYER}

I’ve included proof of my name and address with this letter.

Thank you in advance for correcting this information! I would also like a credit report from you to verify the changes once you’re done updating my file.

Thank You

{YOUR SIGNATURE}
_________________________________________
{YOUR NAME}

 

We have our 1st letter to correct the personal information on our file. Type up your letter, make the necessary changes, address it to the bureaus and send it out in tomorrow’s snail mail.

The address to the credit bureaus are:

Equifax P.O. Box 740256 Atlanta, GA 30374-0256

Experian P.O. Box 9701 Allen, TX 75013

TransUnion P.O. Box 2000 Chester, PA 19016

The next thing you need to do is set your calendar for 45 days. The credit bureaus have by law 30 business days to respond once they receive the letter, so we’ll give them a generous grace period to account for the routing of our letter and the weekends.

Once you send out your letter, let the group know about it! Don’t forget to check in with your accountability partner as well! For those of you who do not need corrections to your personal information.

I’ve included a link to another sample letter for you to use to challenge inaccurate information on your credit report within the group files.

With your letters sent out now, we can focus 100% guaranteed methods to improve your credit!

See you bright and early tomorrow!

Our Private Challenge Forum: Wealth Builders: YourFinancesSimplified

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