If you think you have to pay an expensive credit repair company to get the job done, think again. Repairing bad credit is something you can do on your own for practically nothing. The only expense is a nominal one – the cost of sending credit repair letters via regular mail. Here’s how to get the job done.
Repairing Bad Credit Through the Mail
To find out which credit repair letters you need to write, take a look at your credit reports (which you can see for free via AnnualCreditReport.com).
If you find an error, send a dispute letter to the appropriate credit bureau. They are required to investigate and respond within 30 days of receipt of your letter.
If you are unable to resolve the issue through the credit bureau, it may be appropriate to send a dispute letter to the original creditor.
If you have received a collection notice from a collection agency, send a debt validation request within 30 days of the initial communication. If they cannot prove they have the right to collect on the debt, you don’t have to pay them a dime and the listing must be removed from your credit reports.
What to Include in Your Letters
We have sample credit repair letters you can edit to your unique situation. Beyond that, include any supporting documentation that helps prove your case.
How to Mail Them
Though all three of the major credit reporting bureaus – Experian, Equifax, and TransUnion – have online dispute options, it is recommended you send them via Certified Mail with Return Receipt.
The cost of sending a 1-ounce letter via Certified Mail with Return Receipt is $6.67. That’s $3.45 for Certified Mail, $2.75 for the Return Receipt (green card you get back confirming when they received it), and $.47 for the regular cost of first class mail.
If you are including several supporting documents, it may be heavier than 1 ounce, which you can expect to be reflected in the price.
If you’re lucky, an issue may be resolved with one letter. It’s not uncommon, though, to need to send a follow-up letter, either to the same agency or a different one.
But even if you have several disputes you’re dealing with, all of which need follow-up letters, the cost to you for repairing bad credit will be a small fraction of the hundreds of dollars credit repair companies charge to do the very same thing.