First face the facts. You missed payments or made late payments to the credit card company. You need a loan now or will want one in the future but your credit report doesn’t show that you are the best risk for a potential lender. So what to do?

You could try to bury your head in the sand and hope that those negative comments will somehow disappear but the reality is that it takes several years to clear a credit report of negative comments and entries so it’s in your best interest to get started on credit repair today.

Here are the steps you can take in take in crafting a letter to help repair your damaged credit score:

• Keep your letter short and clear. Don’t provide details which will only confuse the situation. Refer only to the matter at hand and your desire to resolve the situation.
• Let the lender know if you faced exceptional circumstances which affected your ability to pay. Was there a divorce, illness, loss of work, move or other life event that created disruption or loss of income?
• Provide documentation. What records do you have which will verify your statements?
• If you missed payments due to life circumstances, what evidence can you provide? If your payments were not credited to your account, then you’ll need copies of cancelled checks or bank statements. Never send originals.
• Provide full information on how the lender can contact you. Be sure to place your mailing address, home phone, work phone and email on every piece of correspondence.
• Propose a solution and be specific. Can you make payments now? How often and in what amount?

Once your letter is done, make a copy of your letter and any attachments for your own files. Send your letter by certified mail. Keep all evidence that you are attempting to establish a good line of communication.

Now sit back and wait thirty days. You’ll likely find that your credit report will show the needed changes or the lender will contact your to work out a resolution. No matter how long it takes, keep in mind that you’re repairing not only your financial information and data, but also your good name and reputation.