How To Fix Your Credit
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We are going to give you the steps to fix your credit however, we will also suggest a professional credit agency that will fix your credit in just 30 days.
Having a good credit score will save you as much as $300 per month on a $300,000 mortgage in a 30-year loan according to David Bach. Having a good credit score will do more than that. If you own your own company, having a good credit score will give you the business creditbiltiy you need to raise 100’s of 1,000’s of dollars in funding.
On the other hand, having a bad credit score can even stop you from getting a job. Andrea Rodriquez a good friend of mine who has worked for small Insurance Agencies was turned down from her Farmers Insurance job not because she was a bad worker but rather because she had bad credit.
Companies today see you as a risk and feel if you can’t manage your own life how can we trust you will manage our clients. We know at times the loss of a job or even health issues are factors that effect your credit. Today you may also be paying for someone else mistakes because reports show that 79% or 1 out of 4 credit reports contain errors and information that wrong.
Having good credit will not only save $300 per month on a $300,000 30 year mortgage it will save you on your car payments, credit card payments, furniture and everything else you want and need. Having good credit will save you on average of $500 or more per month.
Step #1 – Get You Annual Credit Report
Get your FREE annual credit report at http://annualcreditreport.com you can also mail in a request to Annual Credit Report Service at P.O Box 105281, Atlanta, GA, 30348-5281 or call them at (877)322-8228.
Under the Fair Credit Reporting Act, you are entitled by law to get your FREE credit report from all the major credit reporting agencies. For details visit http://ftc.gov/bcp/menus/cosumer/credit/rights.shtm.
Equifax. Information Services, LLC
P.O Box 740241
Atlanta, Ga 30374
http://ai.equifax.com/CreditInvestigation/jsp/ECC_Dispute_Login.jsp.
Experian
888-387-3742
http://experian.com/disputes/index.html.
Trans Union Consumer Solutions
P.O BOX 2000
Chester, PA 19022-2000
800-916-8800
http://transunion.com/doc/personal/InvestigationRequest_.pdf.
http://annualcreditreport.com/entry/disputeonline.
Step #2 – Verify Your Credit Report
Under the Fair Credit Reporting Act, you are entitled by law to the right to verify items on your credit report.
All major credit agencies must verify items on your credit report within 30 days or these items must be removed from your credit report by law.
Any mistakes in your credit report must be removed by law.
Things To Look For On Your Credit Report That You Are Entitled To Be Removed By Law Are:
– Missing or incorrect name of creditor
– Missing or incorrect accoount number
– Missing or incorrect balance
– Missing or incorrect last date of payment
– Delinquenies and late pays after close
– Undated late pays
– Incorrect account types
– These are some examples
Step #3 Dispute Letter Examples
Fixing your credit is a legal issue. It’s not about what is true it’s about what you can prove. If what you say is true you will still need to prove it.
When dealing with credit reporting agencies you will need to use certified Mail in order to document the dates which are required by Fair Credit Reporting Act.
For Letter To Creditors / Collectors You Will Need
– Your name
– Your Address, City, State, Zip
– The creditor’s name
– The credior’s Address, City, State, Zip
-Current month, day, year
For Letters To Credit Bureaus You Will Need
– Your name
-Your Address, City, State, Zip
-The creditor’s name
-The creditors bureaus address, city, state, zip
– Current month, day, year
-The report number the letter is in reguard to
– Your social security number
– Your birth date
– A previous address (if applicable)
– Copies of 2 Governmental ID’s (License, Passports, etc…)
Rules To Pay Attention Too
– Do not ask for more than one thing at a time
– Do not make referance to any laws
– Make your request simple
– Prove all deltetion requests
– Attach any information that proves what you are requesting
– Do not reveal to much
This Is An Example Letter To Send To The Credit Bureaus
Your Name
123 Your Street Address
Your City, Your State And Zip
The Credit Bureau
Bureau Address
Bureau’s City, Bureau’s State And Zip
The Current Date
In Reguards To Report Number #
To Whom It May Concern
Your Message
Respectfully,
Your Name
Your SSN
Your Date Of Birth
Previous Address (If Applicatble)
(Attatch your copies of two forms of government issued ID)
Example Of Text To Write Letters
Incomplete Reporting Issue Example
I am corresponding with you about the name and account number. This listing is missing (whatever is missing) and is causing me (describe your problem). Could you please delete it immediately.
Thank You,
On (enter date) you updated account number (enter number) however, after our intail correspondence. The listing is still incomplete and I request that you delete it.
Thanks,
Incorrect Balance Examples
I am corresponding with you to dispute account number (enter number). The balance is not correct, could you please delete it.
Thanks,
Incorrect Credit Limit Example
The credit on account number (enter number) is incorrect. You can easily see through my last statement that the high balance was ($…..). Could you please update the listing with the correct high balance.
Thanks,
Credit Limit Dispute When On Collections
I am dusputing account number (enter number) The limit is showing a credit limit of ($……..). How can a closed account have a credit limit? I am requesting that you delte this immediatly. You have allowed this and it is damiaging my credit score.
Thank You,
Undated Late Pay Dispute Example
I am writing you because the account number (enter number) containes incorrect information because of an undated late pay. Could you please delete it immediatly.
Thanks,
Incorrect Account Type Example
I am corresponding with you over the number (enter number). It containes inaccurate information reguarding my account type. Charged off account can’t be open. Please delete this immediatly.
Thank You,
Date Of Last Activity Example
I am writing you to have you verif the date of last activity with the creditor for account (enter number) and (enter name).
Thanks,
Date Updated Discrepancy
On (previous date) I had begun a dispute requarding account (enter number). It appears no actual creditor investigation was actually done, because the date verified did not change. Please delete this item immediatly.
Thak You,
Past Due Amounts After Close
Although account (enter number) was closed on (enter date). The account appears to show deliiinquencies after the closed date. Your verification procedures have allowed this which has been harmful to me and my family, please delete immediatly.
Thanks,
Date Of Last Activity Follow Up Example
I am writing to inform you that you verified the date of last activity for account (enter number). The records of the creditor which are attatched clearly shows that the DOLA verified has violated laws of the FCRA. Please delete item immediatly to prevent civil liabilites.
Thank You,
Example Dispute Letter To Send To Collectors Agencies
I am writing to dispute account number (enter number).
Thanks,
Example Request For Creditor Documentation
I am writing to request a copy of the billing statement that shows the date of last activity and the laste time I made the required minimum payment. I have encloised $……. for the processing fee. Please fax the requested information to (enter fax number)
Thanks,
Step #3 Removing Items
If you have found discrepencies in your credit report you are entitled by law to have these items is removed. Even if the debt is real however, you have have the debt removed because the information about your debt is incorrect (such as: Missing or incorrect last date of payment)
Step #4 Credit Report vs. Credit Score: Credit Report is not the same thing as a Credit Score. You are entitled by law to get a FREE get report.
Credit Scores on the other hand you must pay for.
How your Credit Score is complied?
- 35% Payment History
- 30% Amount Owed
- 15% Age of Credit
- 10% New Credit
- 10% Types of Credit Used
Why Cutting up your Credit Cards will hurt your Credit! Many experts will suggest to cut up your Credit Cards and 15% of your Credit Score is made up of the history of your Credit Cards.
The older the credit card the better it is for you.
Many of you may have heard expert suggest to cut up your Credit Cards however when you card expires you still get a new card in the mail.
Cutting up your Credit Cards will not help you, you will need to cancel your Credit Card but this will hurt your credit score.
30% of your Credit Score is made up of amount owed. Now what has been happening is credit card companies are cutting peoples credit over night and you don’t want to spend more than 33% of your credit amount.
If you have spend more you want to pay more so you keep the amount owed lower then 33% of the card limit. So be sure to check out the article: “How To Get Out Of Debt“.
Step #5 Pay your bill twice a month: Because of the way that credit reports are compiled it is helpful to pay your credit card bill twice a month.
You get your bill which has the amount and then the due date. Take the amount owed and divide that by 2 and pay $50 on the 15th and another $50 on the 30th for a total of $100. Because of the way credit scores are compiled this will improve your credit.
When shopping for lines of credit do it quickly. You have two kinds of Credit Score
1) Soft Inquiry –This is when you check your own credit this will not hurt your credit score.
2) Hard Inquiry – This will hurt your credit score this is what happens when looking for a mortgage or a car loan.
When shopping for a loan you will want to buy quick so you do not hurt your score.
Step #6 Authorized User
If you were younger your parents may be responsible and have paid their credit card and bills on time but if they add you onto their credit card as what is called as an authorized user, in other words add you onto their account this will boost your credit score by ridding off of their good credit history.
If you have some friend who really trust you, you may be able to ride off their credit history to boost your own credit.
We talked more about this in the article “How Rich People Manage Their Money”.
If your friends or relatives do not trust you enough to add you as an authorized user because they do not understand how it works there are complete strangers who will for a fee.
Once you download our workbook and actions plans we will give access to a list of resource filled with credit users who you can leverage their credibility in order to build your credit which you can do so for a few hundred dollars.
It is best to look for a credit user who has a balance of a long credit history and an a large credit line however, we have a starter package for just $697 which comes with a $500 and a $1,500 credit limit.
Step #7 Alternative Credit Identity
If your credit is ruined, or need to financially protect yourself from the possibility of divorce, you may consider an alternative identification number.
Once a person become successful they become a target and so Successful people need to protect their identity with a secondary identification number for security issues and to protect themselves against fraud however, the poor and middle class can use this to get a fresh start.
An alternative identity does not relieve you of your responsibility of pay off any old debts, you are still responsible for these debt however, a alternative credit identity is a quick way to reestablish your credit.
Fix Your Credit In 30 Days
Even if you decide to fix your own credit you will not be able to do so in 30 days. We have a very agressive solution in which for those who qualify we will fix your credit in 30 days or less.
Lete from Burbank, Californaia had a credit score of 620 and in 3 weeks she had a score of 720 with our very agressive solution. However, don’t take our word for it.
Book an appointment with one of our professionals.
The downside of fixing your own credit
Not using a Professional: Credit repair may seem simple but one simple mistake or letting something fall through the creaks can drastically hurt you.
Procrastination will hurt your Credit Score: When repairing your Credit Score there are many correspondence between you and the Credit agencies with times line.
You also must pay attention to the details. So if you can not do this then I would suggest letting a profession do the work for you because I notice people let things fall through for instance, How many of us have started something that we didn’t finish?
Not Fixing your Credit in the Proper order: Things need to be done in the proper order so if these agencies are not following state and federal laws you will need to make If you are going to ask delinquency from the creditor you will need to do this before dealing with the credit agencies.
Document Everything: Once again it’s not what you say but what you can prove so you want to document everything.
Failing to validate before payments: Do not make 1 payment to any collection agency until you are positive it’s your debt
Re-Set Payments: Debt is a legal issue and if the debt has gone without payment long enough you are then no longer required by law to pay the bill.
In many cases it is 7 years but this law will very from state to state.
If you pay the debt this will reset this debt and by law you will then have to repay this debt so make sure you get everything in writing or emailed to you if you try do fix your credit on your own.
One trick many debt collection agencies use is to get people to only pay $1 dollar which re-sets the debt.
There are legal loopholes that may FREE you from any obligation of making further payments on your debt. The first thing you should do is to see if you are one of them by working with a professional.
There are many companies that will be happy to take your money however, we only work with professionals. They will not charge you until they are confident they can help you.
Book Appointment with one of our credit professionals and fix a solution based upon your circumstanse. Credit repair is not a one size fits all. Find the solution that fit you best.
In fact you may quality for our debt elimination program in which we use the same laws that bank use against us in order to charge us higher interst, pentalities, and other fees. We use these same laws againt the bank.
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Are you on the wrong side of the cash register?
There is more money today than has every exsisted in the history of this planet.
Why do companies sell Ferraris, Rolex watches, and Yathch? Because people buy these things, just because you do know anyone who can afford these items does not mean people can’t afford them.
The problem is you are on the wrong side of the cash register.
People just like you spend money they did not have and from those investment to make money which eventually gave them the money to buy the fancy sports cars.
Fixing your credit is an investment into your futhure as you saw from the article how to turn “$5,000 into $1.2million dollars” because once you fix your credit you can fund any investment you want which will give you the financial freedom you need.
Because of what I am going to show you my great aunt who lived to 99 years old. She lived almost 70 yeas of her life on retirement.
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