what is a example of a Letter to explain bad credit items?

Answer 1

Do you mean a letter to explain bad credit items to a prospective creditor or one to send to the creditors who have bad listings on your report for you to find out what those items are and why they are there?

If it's the latter, here are good sample letters:

http://www.creditinfocenter.com/forms/

Answer 2

Sample Letter Explaining Bad Credit

Answer 3

The reason they ask you to write an explanation, is a formality. Since they have agreed to extend new credit to you, they want to see the bad credit reported was an isolated incident. I worked for 1 of the largest banks in the US, these are examples of some actual letters I remember seeing.
* Our son was on drugs, he was stealing from us & using our credit caeds. He is currently in a treatment program and we have brought all the past due accounts current.
* While employed as a nurse in a menta l hospital, I was pushed by a patient out a plate glass window. After 7 months of recovery from those injuries I was offered a position in a nursing home and began my finacial road to recovery.

I have never known the letter to be a deciding factor on credit approval, but make sure you identify the reason it happened and what you have done to prevent it from happening in the future.

Answer 4

You need to check out this video on how to increase your credit score by using a 100% legal loophole. Here is the video URL: http://www.creditscoresecret.org

I was able to get to 595 from 489 in just one day and from 489 to 748 in just a few week; that's pretty fast in my book. Good luck!

Answer 5

Letter of Explanation. Lenders sometimes require this.

For example: medical collection account

I was rushed to the hospital in an abulance one year ago. My insurance didn't cover it, so the hospital put me in collection. I'm currently in process of trying to get this settled.

All you basically have to do is explain why you have the collection account.