Improve Your Credit Prospects by Adding A Statement of Excuse for Statement of Dispute To Your Credit Report

They are essentially two kinds of statements that you can add to your credit report.  One is called a statement of dispute while another one is typically referred to as statement of excuse.  A statement of excuse is usually about giving a reason for any one negative information being reported or for the entire credit report as a whole.  It could be a statement that explains why you did not pay certain bills in a certain month or a couple of months due to ill health or being away on vacation etc.  While this statement gives you an opportunity to explain certain negative information on your credit report, it also makes the impression of making excuses for bad credit behavior in the past.  This kind of a statement rarely has any positive impact on the lender viewing your credit history even if you are giving a genuine explanation as to why you were late with your repayments.

The kind of statements that you should perhaps consider putting on your credit report if the need arises is the statement of dispute.  The statement of dispute refers to a singular particular transaction on the credit report.  It is usually put in place when the dispute filed by you with the credit bureau regarding in accurate information being present or reported by a lender on the credit history is not solved in your favor. You can put this statement which will alert future lenders reviewing your application that you are not in agreement with the result of the dispute and the information that the lender has reported to the credit bureau which could we about a late payment or an unpaid account.  Having this kind of a statement on a credit report may also present you with an opportunity to furnish further documents and proof to any lender who is reviewing your credit report thus improving your chances of qualifying for new credit.