How to Write a 100-Word Statement for a Credit Report

A credit report is used by potential lenders when they decide whether to extend credit to you. The report alone does not have to be the last word in the decision. The Fair Credit Reporting Act requires credit reporting agencies to allow you to include a 100-word statement with your report. You can use this statement to dispute facts or to clarify information in your report.

Instructions

1

Check how many statements you can add to your report; the number varies among the three major credit reporting agencies. Experian allows you to add up to 10 statements to your report, while TransUnion allows you to include one statement of dispute and one consumer statement, and Equifax allows you to include just one statement.

2

Summarize the facts that you want to explain. Stick to the facts; don't offer opinions. Explain the situation factually, but don't make excuses. If you have had difficulties paying bills in the past, don't blame the bill collectors; take responsibility and show that you have taken steps to resolve these problems.

3

Include dates to and figures to make sure that your statement is as detailed and accurate as possible. This will help avoid any confusion on the reader's behalf and demonstrates that you are organized and professional.

4

Use conventional English. Don't include slang or abbreviations. You have limited space to work with, but avoid the urge to use sentence fragments or brief phrases; use complete sentences.

5

Check the spelling of your statement yourself and have someone else check it. Don't just rely on your software's spell check function.