Credit Restoration Procedure

Posted on May 6, 2013 by

William CrowleyI have been attending the REIA’s in Pinellas and Hillsborough County for the last 5 years. In that time frame I have heard a lot of creative ideas and strategies regarding real estate transactions in which I wholeheartedly agree. A lot of these deals required no money down or credit. Upon hearing this, I began to think my services would not be needed as I had anticipated. But as I listened more and more, and continued speaking on my “4-step Credit Restoration Assistance Program” people became more and more inquisitive. All it took was for me to help a few people with their credit problems, and then I was off and flying. Since then I have teamed up with a lot of investors, realtors, mortgage lenders, etc. and have offered them my credit ideals and strategies, only to enhance and compliment their services. I LOVE when people are skeptical of my services. I LOVE when they say “it’s illegal” or “it doesn’t work,” or “the negative items will eventually return,” or the most glaring of them all… “I’ve already had a bad experience with another credit repair company.” Let me make this real clear… read my lips… “I AM NOT A CREDIT REPAIR COMPANY.” 

Come out and join me at Tampa REIA on May 9th at 6:00PM at the Doubletree Suites Tampa Bay located at 3050 North Rocky Point Dr. West in Tampa, FL and hear what my 4-step Credit Restoration Assistance Program entails. I will cover all 4 steps in detail:

  1. The first step is to dispute all negative entries on a Credit Report using the Fair Credit Reporting Act and not those “mickey mouse on line disputes.” Our strategy is based on violation of due process and not whether the entry is valid or not. Most people believe in order to dispute an item on your credit report there must be some controversy that they must expose. The burden of proof is on the Credit Reporting Agency.
  2. The second step is the Federal Trade Commission follow-up letter which states that if the Credit Reporting Agency does not respond to your disputes within 30 days every item must be deleted without further explanation. In order for this to happen the client must provide proof that the Credit Reporting Agency received your disputes. We encourage clients to send mail certified to expedite this process.
  3. The third step is the Cease and Desist letter, which goes to the Collection Agencies when a client is being harassed primarily with intimidating phone calls. Through this course of action the Collection Agencies can make one additional call to inform the client of any further action.
  4. The fourth step is the Validation of Debt letter which is submitted to any collector who demands payment from a client regarding a “charged off” account. Once it is “charged off” the client is relieved of all financial obligations. The Validation of Debt demands that the Collection Agencies validate the debt, in which case if it is “charged off” it cannot be validated. *We are also currently working on suing the Credit Reporting Agencies for numerous violations on behalf of our clients. This step will soon become our fifth step.

The majority of Credit Repair companies (although we refer to our company as “Credit Restoration Assistance”) only dispute limited negative entries on their clients credit reports and this to us is insufficient without including the additional steps that we have provided.

Now let’s go more into detail as to how different our Credit Restoration Assistance Program is in comparison to the traditional Credit Repair Companies.  They just dispute negative information on their client’s reports, and never allow them to view or copy the disputes. Our 4-step process constructs the disputes and then sends the disputes to our clients for review and mailing, we also encourage them to make copies for their records. When the Credit Reporting Agency responds (and they only respond to the client) the client immediately forwards the investigation results to us so we may determine what has been resolved and what still needs to be addressed. So now we begin the next cycle. The Fair Credit Reporting Act consists of about 96 pages of consumer laws (disputes), and we can only use one law at a time. This is what you call a complete cycle. We will conduct approximately seven to eight cycles over the 12 month agreement we have with our clients. Usually you will get encouraging results within the first 30 – 90 days.

Ironically our focus is not the score, but on legally removing as much negative as possible. Your score will be predicated on the positive versus negative scenario, so the score will increase based on us removing the negatives, and your existing positive accounts. The Validation of Debt process is the next important step. As we are disputing the negative items, the collectors are simultaneously being contacted, and they will start calling to settle on accounts. NEVER settle, but NEVER ignore them either. We will submit a Validation of Debt letter in your defense and 90% of the time you will not hear back from them, because they know they are operating illegally, they just need you to inform them.

To get a more in depth view of how illegally the Credit Reporting Agencies are operating, go to www.60minutesoverview.com and select the show on how the Credit Reporting Agencies are grossly violating the Fair Credit Reporting Act The show aired in February of 2013.

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