Repair Credit Score

What kind of statement must credit bureaus include in your Credit Report?

Credit bureaus are only required to include a statement in your file if you are disputing the completeness or accuracy of a particular item.

The bureau does not have to include a statement if you are only explaining extenuating circumstances or other reasons why you haven't been able to pay your debts.

If the bureau does allow you to add such a statement, it can charge you a fee.

Is adding a statement to my Credit Report helping me get a loan?

Don't assume that adding a brief statement is the best approach. It's often wiser to simply explain the negative mark to subsequent creditors in person than to try to explain it in such a short statement.

Many statements or summaries are simply ineffective. Few creditors who receive credit files read them, and Credit Scoring programs may simply ignore your statement.

To make matters worse, your statement might stay in your file even longer than the disputed information.