Credit Repair – Prepare, Know How, And Get Results

Credit repair is almost an essential tool for credit survival. In recenet years, credit repair companies have experienced a surge in business that amounted to billions of dollars in annual revenue. A Consumer needs his or her credit repaired and a new credit repair companyopens up in hopes capturing a fraction of this bilion dollar industry. Keep in mind, that you do not need any professional license to start a credit repair company. All you need is a simple credit repair eBook or credit repair software and you can call yourself a qualified “Credit Repair Representative”. With that in mind, think about why you would hire someone to perform credit repair services on your behalf? It boils down to only two simple answers; Knowledge and Tme. We will discuss how to overcome these two obsticles in more depth as we illustarate to you how easy and timelesss this process can be.

By definition credit repair is the right of a consumer, under the fair credit reporting act, to dispute any credit negative or positive history items appearing in their credit reports. A credit bureau must investigate, and delete any errors at the request of the consumer. However if an item in dispute is found to be correct, though negative, then the information shall remain on their credit report. Negative items and judgements taken against the consumer shall remain on their credit report for 7 years while bankruptcies shall remain for 10 years. Sounds scary right? Well it is true. However, we are cretain that as you have read the definition of credit repair you missed some major yet hidden loopholes that can only be translated as an “advantage to you”.

The first advantage we have found is “Your right to Credit Repair”. By that we mean your right to dispute any item appearing on your credit report whether it’s a known error or unknown. Your right to credit repair is your right to understand your credit and correct the items that youthat you FEEL are inaccrate. Get the phrase “credit repair” out of your head and look at it from this angle: you are not perfroming credit repair; instead you are simply trying to better UNDERSTAND YOUR CREDIT. With that in mind, who is to tell you what you can or cannot understand? You have every right to NOT understand any if not all the items on your credit report. As a matter of fact, we want you to not understand every single negative item on your credit report. The more naïve you become about these items the sweeter the outcome. Noone mentioned that you have to be a wiz at reading credit reports, credit scores, and specifically where a negative item came from or how it showed up on your credir report. Now, that is your right as a consumer.

Now that you understand your rights, we will move on to the second loophole in the under the fair credit reporting act and that is the credit bureaus duties towrds you as the consumber. Thses laws are intended to protect the consumer against fraudulent activites and/or innacurate information plcaed on theirr credit report. Since you are “naïve” about your accounts, especially the negative ones, you now have upperhand that will enable you to overpower the strong arms of any creditor. You, the consumer, have the right to repair your credit at any given time or any given point as frequently as you please. When you dispute an item, the law clearly states that the credit bureau has 30 days to respond to your dispute as well as the million of other disputes that other folks like you are sending. Do you really believe that every dispute will be investigated and responded to in a reasonable amount of time? The answer to that is a big NO. You and many others just like you are sending disputes left and right and these credit bureus and creidotrs are overwhelmed with credit repair inquiries (disputes). There is no way on that any credit bureau can keep up with everything sent to them. This is where you win. No response means deleted negative items.

Let’s suppose you know nothing about credit repair. How do you know what to do and what resources to use? You may also ask yourself, where do I get the credit repair letters? and how do I mail them out and when??? Follow the following exmaple and you will find all the answers to your questions. Let’s suppose you have a 60 day late on your credit report from xyz credit card Company. Yoy mail out a dispute letter to the credit bureaus and day 31 comes by and no response confirming the accuracy of that late payement. Gues what, you have just cleared that negative item by sending a request back to the credit bureau demanding its removal from your credit report. Yes, it is that easy and it is almost guranteed to happen to you. This example was just the beginning of many ways you can accomplish fantastic credit repair results. Credit repair does not require massive knowledge or even any software. It can be performed with a simple how to guide which you can obtain at no cost to you at www.restoremyowncredit.com . Using their credit repair instructions you have become more efective and efficient than 99% of the credit repair companies out there. That is truve because repairing bad credit is more effective you do the credit repair yourself. Noone can accompish better results than you, and not to mention how much money you have saved this way.

Now that youknow how to do your own credit repair, let’s talk about the time it takes. Credit repair is a commitment. Tto accomplish great results you will have to spend a little time cleaning your credit. You may be fooled into thinking that you don’t have the time, but if we told you that you will have to spend a maimum of 2 hours a month on credit repair would you hire someone at a credit repair company to do the work for you? No matter how many items you want to dispute on your credit report, you will never have to spend more than a couple of hours a month working on your credit. All you need is a PC, prionter and a book of stamps. Just follow the credit repair instruction at “Restore My Own Credit . com” and you are on your way.

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The next step is to take stock of your progress on the items you have submitted for dispute to each credit bureau. The result of each item’s dispute will dictate what you do next. Basically, you will get one of the following results from your itemized disputes:

1. The item(s) you are disputing was not mentioned in the original dispute letter, or the description of the item and reason for dispute requires further clarification from you. In this case, once you respond with more info, the 30 day clock starts all over again.
2. The disputed item was verified and proven to be accurate. In this case, you move to the next phase of your plan, which I will explain in a minute.
3. The disputed item was not verifiable in time, or at all. IN this case, the item will be changed to positive status, corrected, or removed from the report altogether.

Obviously, the last outcome is what you are hoping for. If the item comes back as verified, I recommend next doing what is called a “Method of Verification” request. This is where the credit bureau has to respond to you within 15 days and explain to you the method they used to verify the negative item on your report. This is when you will get a letter from them stating that they used their software program eOscar to verify your item electronically.

eOscar is a bad way to verify because the clerk entering in your info just puts in a code to classify your dispute. This makes the dispute very generic, and can help you in a court case if you need to go to court to remove the negative items. Because of this non-personal way of verifying info, this tells us that they never contacted the information source, which is called the ‘Original Creditor’. This is good, this means that you can now contact the OC and ask them to investigate the item, stating that it is not valid.

The OC is under no obligation to verify the item for you, so don’t use the word verification , you just say investigation.  This way they have to respond to you, as stated in the FACT act of 2003. Send the original creditor a letter requesting that they provide you with documentation that the account is yours and the debt is yours. Never admit to anything. The truth is, if the account is a couple years old, they probably won’t have any original records. Then they will have to report to the OC that the account is not a valid item.

Wait for their response for a couple weeks, then if they don’t respond, send a more threatening letter, stating that you will sue them if they don’t prove it is yours or remove it. This method has worked many many times, so it is worth the effort.

Be sure to check back often for the third step in the credit repair process.

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To dispute an item on your credit report, please use the following letter as a template for your communication with the credit bureau, this is a new custom one I wrote myself and have only used it once so by all means go ahead, this one is sent to TransUnion, so just change the address and credit agency name where applicable:

SSN#: 000-00-0000
TransUnion 
Customer Disclosure Center
Trans Union Consumer Relations
PO Box 2000
Chester, PA 19022-2000

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