How do I write a credit explanation letter for derogatory credit?
- 1 decade agoFavorite Answer
- Anonymous1 decade ago
If you are looking to secure a loan and you need to explain a past screw up, I can tell you that the bank is looking for honesty. Let them know what happened, WHY you are sorry (don't just say your sorry, they are looking to make sure that you know you did something wrong) and what steps you have taken in your life to make sure it doesn't happen again. If you cover all those bases, they will look upon you favorably.
- 1 decade ago
Sounds like you are applying for a mortgage. Yes you can. Just detail the reasons why you were late. That's it.
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- ?Lv 61 decade ago
not exceptiable you cant