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100 WORD CONSUMER STATEMENT
Once you have exhausted all attempts to remove a negative item from your report and it still remains, you have the right to place a 100 word or less consumer statement explaining
the reasons for the derogatory status of the account. The credit bureau must provide this statement on your report so that future credit grantors may get your side of the story.
Sometimes the bureaus will
only state that you have a statement on file, but not your statement itself.
If you write a consumer statement to explain your problem with that account, also instruct the bureau that you want a summary of your own words printed directly on the report. If your applying for a small loan, it's unlikely that the creditor will request your statement from the bureau. Thus, not allowing you the opportunity to have the credit grantor read your own words that caused derogatory nature of those accounts.
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