Your right to explain in writing on credit reports

Statements in writing on credit reports

I Can’t Explain (Photo credit: Wikipedia)


Your Right to Explain in Writing on Credit Reports

There are many things about the credit scoring system that are counter-intuitive.  A consumer has a right to file a written statement of 100 words or less to explain anything he feels needs further explanation.  Don’t do it.

Statements in Writing on Credit Reports don’t affect your Credit Score

Readers of my book know that I am not a big fan of utilizing your right to attach statements in writing on credit reports of 100 words or less.  The reason people would want to make statements in writing on credit reports is natural.  There may be very good reasons for the negatives. You may have been a victim of ID theft or medical emergency. These statements do not change your score.  Many times it looks like the statement is just making excuses or the result of a guilty conscience.  Few creditors manually review or follow up on written statements.

Employment Review may be an exception

One reason you may elect to make statements in writing on credit reports is for a credit report that has to be submitted for employment.  Statements in writing on credit reports submitted for employment are more likely to be read. If you do submit statements in writing on credit reports avoid emotion or blaming others.  Before you do it remember that you may be just calling attention to something that would have been overlooked. Proof read it carefully.  Keep it very short.   Make sure it goes to all 3 bureaus. Don’t forget to take it off when the problem is past. You don’t want to forget to take it off and later call attention to the fact that you once had problems.  Word of warning…Taking the statement off is sometimes a process that is more complicated than it should be.

That statement could become a problem if you apply for a mortgage

Statements in writing on a credit report throw sand in the gears for mortgage applications.  What might have been a quick mortgage acceptance is now subject to manual review.  This could slow down the process considerably.  You may need mortgage acceptance fast to close on just the right real estate. You could lose out on a home you want badly because of the slow down caused by statements in writing on credit reports.  If you know there is something on your credit report that requires explanation try explaining it in person to the banker instead.


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After practicing law for 37 years Edward F. St. Onge, Sr. now devotes all his time to helping consumers achieve a high credit score with amazing speed. Learn the counter-intuitive secrets to credit scoring through his down to earth instructions backed by extensive knowledge of the laws and trends. All of the latest tricks and techniques that they don't want you to know now at your disposal. At last a level playing field for the consumer!

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