Ever tried to return an item but didn’t have a receipt? Tried to prove you made a payment on a bill when your credit card company said otherwise? Tried to get a mortgage? Gone through an IRS audit? How about repairing your credit? The tip to success in all these situations is having good documentation and records.

Documentation and good records are incredibly important during the credit repair process. Not keeping logs, receipts and copies of letters sent to information furnishers (anyone who reports information about you to the credit bureaus) can easily mean the difference between success and failure:

• Always correspond and communicate with information furnishers via snail mail, and send it certified mail, return receipt requested (CRRR).
• To make sure you have ironclad evidence of your disputes, DON’T use the online system offered by the credit bureaus on their websites. Send a letter.
• Don’t miss your chance to force an information furnisher to remove negative information because they didn’t respond in time. When requesting an investigation of negative information, the information furnisher only has 30 days to respond or they must remove the information. If you don’t have proof when the party received the request, you can’t hold their feet to the fire and get the disputed item removed.
• Sometimes it takes several rounds of dispute letters to the credit bureaus to get an account removed. To re-dispute, though, you must give a different reason or send new information. You should keep track of all reasons you used, the date and all documentation sent by making an entry in your log book and saving a copy of the dispute letter.
• Did you write a letter to a collection agency and ask that they stop contacting you? Once receiving such a letter, by law, they must comply with this request. It’s good to have proof they received this letter if they don’t stop bothering you.
• Did you send a timely debt validation letter to a collection agency? If you did, the collection agency cannot bother you without validating the debt. It’s crucial to have a copy of the letter you sent and they receipt showing when they received it.
• Has someone violated your rights per the Fair Credit Reporting Act or Fair Debt Collection Practices Act? If you plan to take them to court, you better have good documentation.
• Did you negotiate a settlement with a collection agency? Verbal agreements are difficult if not impossible to enforce. Get the agreement in writing and keep a copy.

In addition to these obvious reasons for keeping receipts and copies of letters, it is good motivation to track your progress as you turn over a new good credit leaf. Sometimes the process of credit repair can seem overwhelming. A log book showing that you’ve removed 10 of 30 items from your credit report can help you focus on your accomplishments rather than how much more work remains and simultaneously boost your resolve to continue.

Do you have any other documentation tips you’d like to share? Tell us about it by leaving a comment!

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