Monday Mailbag: What is Your Credit Repair Process?

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Question:

How does the credit repair program work?

Answer:

Here’s how credit repair works; we contact the credit reporting agencies (Experian, Equifax, and TransUnion) to verify the accuracy of the information that they are reporting in your credit reports (account balances, statuses, payment history, dates, remarks, etc…) if there are any inaccuracies or non-compliance issues – the accounts are updated or removed. Simultaneously, we contact the credit furnishers (the companies reporting the information to the credit bureaus) and request debt validation, section 609 requests, permissible purpose verification, etc… if the companies do not respond within the allotted time – the accounts are removed, if the companies respond but, the information from their documents doesn’t match the information in the credit reports – the accounts are deleted, if the response falls outside of the compliance of the FCRA, FDCPA, or FCBA – the accounts are deleted. There are other tools we can use like investigations through the CFPB, OCC, etc…. It is important to note that if everything is 100% accurate and compliant with the law, the accounts will continue to report.

 

 

Question:

Do I have a personal advisor I can email call and text? Or do random people work on my credit?

Answer:

Yes, you will have a personal credit consultant. The consultant (along with our team) will be working on your case but, your personal credit consultant will be your primary point of contact – that way you can talk to someone who actually knows what’s going on in your case when you have a question and not a random person who is just reading notes from a computer screen. You can call, email or text your consultant directly at any time. You will also have access to our online client portal where you can track the status of your case 24/7.

 

 

Question:

Will someone be working on my credit every day?

Answer:

That depends on how much work is needed. If you have 50 collection accounts then, yes, we will be working on your case every day due to the number of accounts that you have but, if you have 5 collections, then that won’t be necessary. The investigations that we initiate with the credit bureaus have specific deadlines for their completion. For example, disputes have to be completed within 30-45 days, debt validation takes 30 days, method of verification takes 15 days, 609 requests take 30 days, permissible purpose verification takes 15 days, etc… We work on your credit as much as necessary and as new information comes in, whether it’s every day or less often.

 

 

Question:

Can you do it electronically and not do it by paper? If you can’t then maybe your company can’t help me.

Answer:

We can initiate the disputes electronically but, things like debt validation, section 609 requests, method of verification, etc… have to be done via standard postal mail. If you have issues accessing your mail, we can work around that but, we would still need to physically mail the credit bureaus and furnishers documents in order to achieve the best results.

 

 

Question:

I don’t mind paying accounts for deletion, or for a paid full amount satisfied.

Answer:

Pay-for-delete is a great option and it’s something we can discuss when we cross that bridge but, before you start paying off your debts, it is important to make sure that the debt is legitimate and within compliance of the laws. If the credit furnishers cannot verify your liability in the debt and provide documentation with your signature proving that it belongs to you, you are not liable for it.



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