How to Report to Credit Bureaus About a Gambling Problem
An unfortunate reality of gambling is credit card debt. Every consumer has the right to explain adverse circumstances that have led to an abnormal debt load or delinquent credit obligations on his credit report. Your explanation shows landlords and creditors that you are working to overcome a problem.
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Instructions
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Write a simple statement regarding your gambling addiction and how it impacted your financial life. The three major credit bureaus---Equifax, Experian and TransUnion--limit you to 100 words. Include steps you are taking to repair your credit after the gambling addiction such as counseling, church, or self-help groups such as Gamblers Anonymous or Debtors Anonymous.
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Write a letter to each credit bureau stating you wish to exercise your right to include a consumer statement in your credit report. Enclose a copy of your statement, and include your full name, address, Social Security number and date of birth.
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Send your letters to each credit bureau: 1) Equifax Credit Information Services Inc., P.O. Box 740241, Atlanta, GA 30374; 2) Experian, P.O. Box 9532, Allen, TX 75013; 3) TransUnion, 2 Baldwin Place, P.O. Box 2000, Chester, PA 19022. If you send the letters by certified mail you can track when they are received.
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Wait about 30 days, and you should receive mailed confirmation from each agency that your personal statement is added to your credit report. The information usually lasts up to seven years unless you request it be removed from your credit file.
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Send a letter to each creditor affected by your gambling problem if you have not done so. This may help you avoid being sued for late debts and will let your creditors know you are working on your situation.
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Contact a credit counseling agency if necessary. An agency may be able to negotiate repayment with your creditors if your gambling problem had a serious effect on your finances. This may prevent the need to file bankruptcy and lower your monthly payments to creditors.
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Tips & Warnings
Contact each credit reporting agency separately; they do not share information with each other.
