DIY Credit Repair Course Accessory Module 1: Personal Credit Repair Quick Start Guide

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Personal Credit Repair Quick Start Guide


GET YOUR FREE CREDIT REPORTS

Removing all negative entries from your credit reports does not need to be difficult or time consuming. Follow this simple step-by-step plan to get started immediately.

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First, you need to get a copy of your three credit reports from the major credit reporting agencies, Experian, Equifax and TransUnion. You are entitled to request one free copy per year. Go to the official government website to request them for free. Annualcreditreport.com is the only place where you can get a free copy of your credit reports:

www.annualcreditreport.com

If you cannot request them online, you can mail a request for a copy to them directly at the following addresses:

EXPERIAN

P.O. Box 9556 Allen TX, 75013

EQUIFAX

P. O. Box 740241 Atlanta, GA 30374-0241

Free Credit Report Evaluation and debt relief consultation. Effective credit relief solutions are available.

TRANSUNION

P.O. Box 2000 Chester, PA 19022-2000

Also, if you have been denied credit you are entitled to a copy of the credit report used to make the negative decision but you must request it within 60 days. When you were denied credit you were provided with a letter which states which bureau was used to provide the information that caused the negative decision. Write to the bureau (or go online) if you would like to receive a copy of the report.

REMOVING NEGATIVE INFORMATION

Once you have copies of all of your credit reports, you can start to remove the information. Send a simple letter with a copy of your credit report and the following information:

Your Name

Your Address

Name of Credit Bureau

Dear Credit Bureau,

You are reporting information about me which is inaccurate. The following items are incorrect. I have also enclosed a copy of my credit report with the account(s) in question clearly circled:

1. Account Number, Account Type

2. Account Number, Account Type

3. Account Number, Account Type

The above items are inaccurate. Please investigate and remove them immediately.

Encl: Credit Report (any additional information you will be enclosing)

The bureaus are required to investigate your dispute and provide you with the results within 30 days. They are required to delete information which is inaccurate, and to mail you a letter clearly explaining the results of their investigation and what steps they have taken (deleted, updated, etc.).

Make sure you send the letter via certified mail and keep copies of all information for your records. Never file a dispute online.

THE NEXT STEP

Within about 30 days you will receive responses from the bureaus. With the responses they are required to provide you with a new, updated copy of your credit report. If they have deleted the accounts, then your job is over. Make sure you do not contact the bureaus again regarding information marked as “deleted” in the response you receive from them.

METHOD OF VERIFICATION REQUEST

If the disputed items remain, send the credit bureau another letter and request what is called “method of verification” proof. Do this quickly, as you must request this proof within 15 days from the conclusion of your initial dispute. The best way to do it is to immediately send out this letter the same day you receive your dispute results from the bureaus. You can use the following letter as a guide:

Your Name

Your Address

Name of Credit Bureau

Dear Credit Bureau,

I previously disputed items which you verified as accurate. Please provide me with your method of verification or I am going to file a complaint against your company with the CFPB. Specifically, provide me with the following information in accordance with the FCRA:

1. Copies of any documents you used to make your decision, including electronic correspondence of all types

2. A copy of all information you sent to the data furnisher during your investigation, including transcripts of all telephonic conversations and any information you received from the data furnisher

3. The name, job title and contact information of the individual(s) you contacted at the data furnisher

4. The name, job title and contact information of all employees within your organization who played any part in handling this dispute

Obviously your continued reporting of this inaccurate information is causing me financial distress. Please provide me with the above information and delete these accounts from your report immediately. If I have not heard from you within 30 days from the date you receive this certified letter I will be filing a complaint against you, initiating other legal action, or both.

Encl: Credit Report (any additional information you will be enclosing)


Following the two simple steps above will allow consumers to begin to generate the paper trail necessary to file a winning complaint against the credit bureaus with the CFPB.