Disclaimer
No part of this software may be reproduced or transferred in any form or by any means, graphic, electronic, or mechanical, including photocopying, recording, taping, or by any information storage retrieval system, without the written permission of the Self-Credit Repair Learning Center. The accuracy and completeness of information provided herein, and opinions stated herein, are not guaranteed or warranted to produce any particular results when it comes to improving your client’s credit score, credit history, credit report, or credit rating. The advice, strategies, and dispute letters contained herein may not be suitable for every individual. Self-Credit Repair Learning Center is not a credit repair company or a law firm that provides credit repair services, consultation or advice on improving credit scores, credit records, credit history or credit ratings. The law gives consumers the right to challenge any unfair, inaccurate, untimely, misleading, biased, incomplete, and unverifiable information in their credit report, but consumers do not have the right to have accurate and timely information removed from their credit files. Self-Credit Repair Learning Center shall not be liable for any loss incurred as a consequence of the use and application, directly or indirectly, of any information presented in this software. This software is designed to provide accuracy in regard to the subject matter covered. In addition, Self-Credit Repair Learning Center has used their efforts in preparing this software. It is sold with the understanding that Self-Credit Repair Learning Center is not engaged in rendering legal, accounting, or other professional services. If legal advice or expert assistance is required, the services of a competent professional should be sought.
FTC disclosure
Consumer Credit File Rights Under State and Federal Law
You have a right to dispute inaccurate information in your credit report by contacting the credit bureau directly. However, neither you nor any ”credit repair” company or credit repair organization has the right to have accurate, current, and verifiable information removed from your credit report. The credit bureau must remove accurate, negative information from your report only if it is over 7 years old. Bankruptcy information can be reported for 10 years.You have a right to obtain a copy of your credit report from a credit bureau. You may be charged a reasonable fee. There is no fee, however, if you have been turned down for credit, employment, insurance, or a rental dwelling because of information in your credit report within the preceding 60 days. The credit bureau must provide someone to help you interpret the information in your credit file. You are entitled to receive a free copy of your credit report if you are unemployed and intend to apply for employment in the next 60 days, if you are a recipient of public welfare assistance, or if you have reason to believe that there is inaccurate information in your credit report due to fraud.You have a right to sue a credit repair organization that violates the Credit Repair Organizations Act. This law prohibits deceptive practices by credit repair organizations.You have the right to cancel your contract with any credit repair organization for any reason within 3 business days from the date you signed it.Credit bureaus are required to follow reasonable procedures to ensure that the information they report is accurate. However, mistakes may occur.You may, on your own, notify a credit bureau in writing that you dispute the accuracy of information in your credit file. The credit bureau must then reinvestigate and modify or remove inaccurate or incomplete information. The credit bureau may not charge any fee for this service. Any pertinent information and copies of all documents you have concerning an error should be given to the credit bureau.If the credit bureau’s reinvestigation does not resolve the dispute to your satisfaction, you may send a brief statement to the credit bureau, to be kept in your file, explaining why you think the record is inaccurate. The credit bureau must include a summary of your statement about disputed information with any report it issues about you.The Federal Trade Commission regulates credit bureaus and credit repair organizations. For more information contact: The Public Reference Branch Federal Trade Commission Washington, D.C. 20580
The Dispute Process
Before you start the dispute process, please read the key information listed below for a full understanding of how credit restoration works and how best to use the software.
Welcome
Welcome to the Self-Credit Repair Dispute Software. This software was put together to help you restore your client’s credit, raise your score and rebuild their credit. There is no guarantee that any method or technique taught in this software will work. But most clients who have applied the strategies taught in this software have seen results within three months. Take your time and read the information in this section of the software. Then review the tutorials on how to use the software. Once you send your first round of disputes, go to the learning center and begin studying other aspects of restoring your client’s credit like raising your client’s credit score and rebuilding your client’s credit. If you have any questions pertaining to the software, please submit a ticket through the help desk tab.
Dispute Letters
Letters provided in the software are there to assist you with fixing inaccurate, questionable, misleading, incomplete and unverifiable accounts on your client’s credit reports. These letters are guides and not set in stone. Therefore, please modify if needed to fit your individual situation.
The law and credit reports
Now, before you start trying to repair your client’s credit report, let me tell you what the law says about challenging negative items on your report. The Fair Credit Reporting Act regulates how the credit bureaus handle your credit report under § 611. For procedures in cases of disputed accuracy [15 U.S.C. § 1681i], the law states that if you dispute the accuracy of any item or data in your credit reports, the credit bureau shall conduct a reasonable investigation within 30 days to determine if the challenged item is correct. After the 30 days have expired, if the credit bureau has not verified or completed the investigation, the disputed item must be deleted. There you go. That is the law, and you will use it to start your dispute process.
Your client’s credit reports
Currently, there are three main credit bureaus: Equifax, Experian and TransUnion. You should request your client’s credit reports from all three of these agencies. Your client’s information is also available for free from each credit bureau every 12 months. Another option for obtaining your client’s credit reports is to get a three-in-one report. With this report, all three credit reports are merged into one. If you want a three-in-one credit report, your clients have to buy it or subscribe to a credit monitoring service.A good starting point for reviewing your client’s credit history and information is the Annual Credit Report, a service sponsored by the three leading credit bureaus and authorized by the Federal Trade Commission. By using the Annual Credit Report website, you can see all three of your client’s credit reports instantly as this service is offered to you for free once a year.
Free credit reports only and no credit scores:
Recommended three-in-one credit reports and credit score:
- myFICO:
- Myiqreport:
- Creditchecktotal:
- Creditkeeper:
- Equifax:
- Experian:
- TransUnion:
How do I read my client’s credit reports?
Reading and understanding your client’s credit report can be confusing and frustrating at times. Because of this, I have recorded a 17-minute video showing you how to read and understand your client’s credit report. I highly recommend that you watch this video before sending out your first disputes. The video shows you what to dispute and why you are disputing certain items.You can dispute any item on your client’s credit report you feel is inaccurate as the law gives you that right. Using the guides listed on the next page, review your client’s credit report and look for any information you feel is not correct. Then, pick a campaign and begin disputing it. Remember to always change your dispute reason with every new dispute to avoid receiving a frivolous letter from the credit bureaus. The law allows the credit bureaus to send a frivolous letter if they feel that you are trying to manipulate the system. To get around this, you must present the credit bureau with new and relevant information.
What errors should I look for on my credit report?
You can look for the following errors when reviewing your credit report with your highlighter or red pen.
Look for these issues with your credit reports:
- Any account you feel is inaccurate:
- Accounts that do not belong to you:
- Accounts not reporting the correct balance:
- Inaccurate accounts:
- Wrong credit limit:
- Wrong high balance:
- Paid account showing a balance:
- Inquiries you did not authorize:
- Closed accounts shown as open:
- Charge-offs showing a balance:
- Duplicate accounts or use its campaign:
- Outdated accounts or use its campaign:
- Accounts sold and transferred or use its campaign:
- Accounts that belong to someone else or use its campaign:
- Inaccurate collection accounts or use its campaign:
- Inaccurate slow pays or use its campaign:
- Inaccurate charge-offs or use its campaign:
- Inaccurate judgments or use its campaign:
- Inaccurate bankruptcies or use its campaign:
- Inaccurate medical bills or use its campaign:
- Inaccurate repossessions or use its campaign:
- Inaccurate foreclosures or use its campaign:
- Inaccurate short sales or use its campaign:
- Inaccurate tax liens use or its campaign:
- Inaccurate account name:
- Inaccurate account number:
- Inaccurate creditor’s address:
- Inaccurate date open:
- Inaccurate responsibility listing:
- Inaccurate account type:
- Inaccurate loan type:
- Inaccurate balance:
- Inaccurate date updated:
- Inaccurate payment received:
- Inaccurate last payment made:
- Inaccurate high balance:
- Inaccurate credit limit:
- Inaccurate past due amount:
- Inaccurate pay status:
- Inaccurate date closed:
- Inaccurate remarks:
- Inaccurate paying history rating:
- Inaccurate bank name:
- Inaccurate bank address:
- Inaccurate account:
- Inaccurate date open:
- Inaccurate date open:
- Inaccurate high credit:
- Inaccurate credit limit:
- Inaccurate terms frequency:
- Inaccurate months reviewed:
- Inaccurate activity designator:
- Inaccurate Items as of date reported:
- Inaccurate balance amount:
- Inaccurate amount past due:
- Inaccurate date of last payment:
- Inaccurate actual payment amount:
- Inaccurate schedule payment amount:
- Inaccurate date of first delinquency:
- Inaccurate date of last activity:
- Inaccurate date of major delinquency:
- Inaccurate charge-off amount:
- Inaccurate deferred pay:
- Inaccurate start date:
- Inaccurate balloon payment:
- Inaccurate Amount:
How should I dispute the accounts?
If you find any account inaccurate, you can use these reasons for disputing:
- You have no record of being late:
- The trade line displays the wrong amount:
- The account number is incorrect:
- The accounts are unverifiable:
- The original creditor is wrong:
- The charge-off date is inaccurate:
- The date of last activity is wrong:
- The credit limit is incorrect:
- The status is wrong:
- The high credit is wrong:
- The charge-off amount is wrong:
- The balance is wrong:
- The items are questionable or misleading:
- The accounts are erroneous:
- Outdated:
- The open date is wrong:
- The type of loan is not correct:
- The amount past due is wrong:
- The month reviewed is wrong:
- The rating is wrong:
- The comments are wrong:
- The last reported date is wrong:
- The date the account went delinquent is wrong:
- The date of the first major delinquency is wrong:
- The additional information section has the wrong information:
How many inaccurate items can I challenge at one time?
You can dispute all of them if you want. Experience has shown us that there is no difference in disputing two negative items or as many as 20 negative items during your first round of disputes. For example, if you looked at your client’s credit report for the first time and noticed that 15 accounts were inaccurate, would you just dispute two of the accounts or all of them ? All of them is the answer.
Can I challenge all of the derogatory information on my client’s credit report?
Yes, if you don’t care about your client’s credit score. The rule is, if you just want to get negative items off of your client’s credit report, then challenge what you feel is inaccurate, no matter how long it has been on your client’s credit report. But if you are trying to raise your credit score, only focus on the items within the last 24 months as these items are hurting your score the most.
Twenty-four month rule
Derogatory accounts within the first 24 months have the most important impact on your credit score. Because of this, you want to focus on inaccurate accounts within this time frame if you are trying to raise your client’s credit score. If raising your client’s score is not a concern, you can challenge any inaccurate item you choose no matter how old the account is.
Late payment exception
If your clients have more than one 90-day late payment and at least three 30-day late payments during the past 24-month time frame, you can challenge those with the credit bureaus. These multiple 90-and 30-day late payments are considered major derogatory listings. This type of listing really hurts your client’s credit score.
Warning
Deleting old negative accounts could lower your client’s credit score, because they lose the age of the account when it is removed from their credit reports. Length of the account makes up 10% of your score, and this is why it could drop.
Collection accounts within the statute of limitations
Each state has a statute that allows the debt collector to sue your client in court for the past due account. Check the resource guide in the learning center for your client’s state before disputing and cutting off the communication with the debt collectors for a debt of more than $1400. If the debt is within the statute, dispute other items first and leave this one for last or wait until the statute expires. There is a possibility that if you dispute or cut off communication with the collectors, they will sue your client.
When will my client see results?
There is no guarantee that you will see results right away, but most customers see results within the first 90 days of their first campaign. To see the best results, allow yourself at least six months. This is the time frame it takes to get the best results using the software.
Carbon Copy Technique
At the bottom of each letter, you may see the word cc: followed by one or multiple organizations. This simply means that you are advising the credit bureaus, creditor or collector that you have or will be filing complaints with the various organizations listed. If the credit bureau, creditor or collector does not fix any inaccurate, questionable, incomplete, or unverifiable trade lines on your client’s credit reports, it is best that your clients file complaints with the companies listed at the bottom of the letter. Once the complaint is filed, attach a printout copy of your complaint with each dispute letter.