A sample letter is included here to help you in correcting your credit profile. Make sure that you clearly identify information that you dispute, include copies of receipts or documents that support your position. Then request that information be corrected or deleted from your file.

Send your letter by certified mail and request a return receipt from recipient. Keep all correspondence that you mail out. Give agencies involved 30 days to begin their investigation. You can call them but be aware that phoning them does not protect your consumer rights! You must notify them in writing to protect your rights.

They must notify you of results of their investigation. Although process will take time, it’s important to do it. This is your credit profile, your “consumer identity” that is at stake. Don’t expect an error to correct itself.

At your request, credit bureaus must send notices of corrections to your credit profile to anyone who has requested your report in last six months. If you applied for a job and were turned down because of inaccurate information in your credit report, you can have corrected report mailed to anyone who received a copy in past two years.

Sample Dispute Letter Date

Your Name Your Address Your City, State, Zip Code

Complaint Department Name of Credit Reporting Agency Address City, State, Zip Code

Dear Sir or Madam:

I am writing to dispute following information in my file. The items I dispute are also encircled on attached copy of report I received. (Identify item(s) disputed by name of source, such as creditors or tax court, and identify type of item, such as credit account, judgment, etc.)

This item is (inaccurate or incomplete) because (describe what is inaccurate or incomplete and why). I am requesting that item be deleted (or request another specific change) to correct information.

Enclosed are copies of (use this sentence if applicable and describe any enclosed documentation, such as payment records, court documents) supporting my position. Please reinvestigate this (these) matter(s) and (delete or correct) disputed item(s) as soon as possible.

Sincerely, Your name

Enclosures: (List what you are enclosing)

Originally Posted at

What happened to era when your home was considered your nest egg to be used only for life-threatening or life-changing events like paying for a child’s wedding or for a medical emergency? And worst of all, many new homeowners are using their home’s equity as another source for financing new debts.

Think twice before using home equity to pay off credit card balances. If you’re already overspending on your credit cards now, what makes you think anything will be different after you pay them off with a loan or line of credit? Many people just wind up deeper in debt or facing bankruptcy because they couldn’t resist charging their cards up again.

Keep this in mind before tapping your home’s equity - Your loan or HELOC is secured by your home. Default on loan and you could lose your house, even if you declare bankruptcy!

The best use for home equity is to make improvements that add value to your home. Remodeling a kitchen or bathroom, adding an extra room or creating a master suite are just a few of “hot” improvements that can really pay off when it comes time for you to sell.

If your home truly is your nest egg, be smart about how use its equity. Make sure that it fits in with your overall financial plan and golas. Otherwise, you could be left without a nest and just egg!