A credit letter of explanation is written to give the detail of any credit application to the bank as per the rules of the concerned financial institute. It is important to produce the accurate document in order to make your credit application eligible for the bank approval. We know that credit letter is an official document issued by the bank or any financial agencies. Sometimes the credit reports have some bad credit entries. So we write a letter to explain the reason of such entries in the report. Such letter is known as a credit letter of explanation.
A credit letter of explanation needs the detail of your any credit approval. Here a common sample is provided as for your use.
Credit Explanation Letter Sample
Aug 12, 2014
2 Fellview drive
CA 21 3WS
Subject: Explanation for applying for credit
Dear Sir/ Madam,
I have recently applied for a personal loan of 50,000€ in your company. I received a letter from your company dated 25th may’14, requesting for more details.
I have recently purchased a flat in Fellview drive. And I need a loan for the refurbishment of the property. I hereby enclose my details and copy of bank documents so that you can confirm with them that I have been their client for more than ten years. I would like to assure you that I always have a positive balance in my account and I hold both current as well as savings account.
Encl: bank documents
Given Below are a few credit letter samples for a clearer Idea.
Credit Deletion Letter
A credit letter of deletion is a request to remove inaccurate remarks from your credit report.
Credit Dispute Letter
A credit dispute letter, as its name depicts, it is about mentioning the problem regarding the credit payment between the client and the financial institute.
Credit Denial Letter
A credit denial letter is issued by the bank to an applicant. This letter is sent to a credit applicant informing him or her that the credit application has been denied.
Credit Approval Letter
A credit approval letter is issued by the bank to the client that approves the client’s ability to take the credit from any financial institution.
Credit Repair Letter
Credit repair letter could be a powerful tool in dealing with credit repair businesses.