The best way to repair your credit is to write letters to the credit bureaus and collection agencies. These letters are commonly referred to as "credit repair letters". There are many different credit repair letters for many different situations. The most popular credit repair letters are dispute letters, debt validation letters, pay for delete letters and cease and desist letters.
Dispute Letters
Dispute letters are written to the credit bureaus to dispute an account, public record or personal information. Dispute letters are incredibly effective. There are many sample letters available on the internet; unfortunately most sites offer letters that state much more than they really need to. They quote the Fair Credit Reporting Act and other laws in hopes of "scaring the credit bureaus" into removing negative accounts. Some of the letters even make threats of litigation. All of this is unnecessary and will usually end up hurting your case more than it helps. Keep your dispute letters simple and to the point.
Debt validation letters are written to collection agencies to ask a collection agency to validate a debt. Debt validation is simply a consumer's right to challenge a debt and/or receive written verification of a debt from a debt collector under the Federal Fair Debt Collection Practices Act (FDCPA).
Pay for Delete Letters
A pay for delete letter is usually written to a debt collector in hopes of negotiating to pay on an existing account in hopes of having the account removed or updated as positive on your credit report.
Cease & Desist Letters
A cease & desist letter can be sent to anyone, usually a debt collector, to request that they immediately stop contacting you. These letters should be sent certified, return receipt so that you have proof that it was received by the collector should you ever have to provide the evidence in court if they violate your federal rights.
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