Credit repair is a very complex and methodical process. Anyone saying they can fix your credit in 30 days is LYING. The #1 reason our industry has a bad reputation with the Federal Trade Commission is because of false and deceptive advertising. Unless you have a very simple problem, such as carrying too much debt on your credit cards and all you need to do is pay them down then 30 days is pretty much impossible. Considering Federal law says we have to give the credit bureaus a full 30 days to even respond, then add in mailing time, just that first filing of inquiries and disputes will take up to 45 days to come back. We know they are going to lie and not really investigate so we know it takes a few rounds of back and forth with the credit bureaus. Their strategy is simple; confuse you and hope you go away and leave them alone. Sadly this works well for them. We don’t go away, cut through the smokescreens they throw out and force compliance with the law or we actually file a formal complaint with the law!
We are not lawyers. That’s a good thing, if we were we would be charging lots of money to do what we do since that’s what lawyers do. That said we have more knowledge on the Federal laws pertaining to the credit bureaus, debt collections, credit transactions, billing practices, etc. than you will find at a law office. Why? Because this is all we do! I have spent more time than I desire educating a lawyer trying to sue my client about the law. Ridiculous! These lawyers simply figure they will scare you into paying since the letter is from a lawyer. They have to follow the law too!
So, back to the topic, here is the typical process;
1. You contact us and we discuss your credit issues and we get a copy of your credit report from all three bureaus with scores.
2. We talk to to you about what we are seeing on the credit report and how we feel we may be able to help you….we do all this for no charge by the way.
3. You make the wise choice and sign on with us! Note..IMPORTANT STEP HERE! 🙂
4. We immediately file, under The Fair Credit Reporting Act (FCRA), challenges to all three credit bureaus on derogatory items hurting your credit report. Our challenges are specific, I have yet to see a credit report without errors. At the least we ask for validation of the trade line.
5. The credit bureaus respond and lie. We file again a stronger letter quoting chapter and verse of Federal law.
6. Credit bureaus respond. A bit better, still some nonsense.
7. We re-file a very strong letter. Same time we begin the process under The Fair Debt Collection Practices Act (FDCPA) of directly challenging any debt collector or creditor listing negative information on your credit report. The burden of proof lies with them and they are required to either show us the required proof and documentation or they must delete from your credit report.
8. Based on responses we may recommend moving to a formal filing with the Consumer Finance Protection Bureau. A Government agency that exists to assist consumers with issues pertaining to the credit bureaus, creditors, and debt collectors.
Of course, everyone’s situation is unique. We may be fighting public records like a mis-reporting bankruptcy, tax lien, judgment. There are many variables that come up and we attack them as we see them or they come up.
We always set a reasonable time frame depending on the individual situation. It could take 6-8 months. Your credit didnt get broken overnight and I have no magic wand to immediately fix it. So PATIENCE is required! Stay in touch with us, check in see where things are at. We encourage that! But understand when we say 6-8 months, there is a reason. We just didn’t randomly pick a number out of a hat!
We have yet to not increase a clients credit score. Not by just a couple points. We can help you. We will do our part. There are things we will be asking you to do as well. When you do your part and we do ours THAT is when the magic happens!!