5 Mistakes to Avoid if You Want to Win Credit Repair Disputes

Hey, credit heroes. There are five mistakes that cause credit disputes to fail. And today I'm going to explain how you can avoid them and get better results. So you better stick around. My name is Daniel Rosen and welcome to Credit Repair Business secrets. In the 20 years since releasing my first credit repair software, I have helped thousands of businesses to build from the ground up. And during that time, I faced many of the same challenges that you're facing. But over the years, I've discovered proven ways to overcome them to grow and succeed. Credit Repair is a results based business. If you want to be successful, you need to win disputes and get results for your clients. If the facts are on your side and the law is on your side, you have the tools you need to win disputes. But just because you have the tools doesn't mean it's going to be an easy round one knockout. No, it's going to be a fight. Because the banks and bureaus are rich and powerful and they play dirty, they'll use any excuse to stall or deny your disputes. So if you want to beat them, you can't help them by making mistakes. Here's how this relates to us. Disputes can fail for many reasons. Some are avoidable and some aren't. No matter how well written your disputes are, early round letters tend to receive automatic responses, calling your claims frivolous or your paperwork not legible or suspicious. These annoying stall tactics are designed to confuse and mislead you so that you'll give up. Why do they want you to give up? Well, because then they won't have to investigate and that saves them a lot of money. That's why they stall and that's why they deny. In most cases, you did nothing wrong. But you cannot give the bureaus any excuse to stall the process or deny your claims. If you want to win and get results for your clients, there are specific mistakes that you have to avoid. Here's a thing to remember. Winning your disputes will take patience, pressure and persistence. We call them round one letters for a reason. The fight has just begun. Whether you make a mistake or you receive an annoying stall letter, the only way a dispute really fails is when you give up. You can put your disputes in the best possible position to succeed if you avoid these five mistakes. The first mistake people make when repairing credit is disputing something that they can't or shouldn't dispute. In these cases, they try to dispute accurate information, or when that fails, they try to remove everything from their reports. You shouldn't try to remove accurate information from credit reports without finding something inaccurate about how they're being reported. In some circumstances, you can request the removal by sending a goodwill deletion letter that you send directly to the creditor. But most accurate items, if there's nothing inaccurate about how they're being reported, are probably going to stay on your report for seven to 10 years. You also shouldn't try to remove everything from your credit report because, believe it or not, some negative items or are actually helping your credit score. Your credit history is the most important factor in determining your credit score. If you delete a negative item that happens to be one of your oldest accounts, that loss of history can be far worse than what you gain from removing the negative account. So by trying to fix the problem, you make it worse. Now, if you don't have a lot of credit history spread across multiple accounts, you can strategize item by item, account by account, and decide what can and should be removed. And that way you don't dispute the wrong things. Mistake number two Disputes contain inaccurate or incomplete information. These disputes fail because they can't be investigated by the bureaus. In some cases, disputes contain inaccurate information like the wrong dates or the wrong account numbers or the wrong creditors names. In other cases, basic dispute information is incomplete, like not including the actual reason for your dispute. Yes, these are embarrassing mistakes to make, but they're very, very easy to fix. Double and triple check your disputes before you mail them, and when in doubt, add more details that back up your claims. Mistake number Not Providing Enough Evidence the more evidence you can provide to support your dispute, the better. If you don't provide enough documentation or none at all, there's a very good chance the bureaus will deny the dispute, stall or ask for more information. So collect as much evidence as possible. This can be bank statements, a letter from the creditor, a police report, or anything else that backs your claim. Make copies of these relevant documents and attach them to your dispute letters. And always keep the originals. Each piece of evidence increases your chances of a successful dispute. Also, be sure to always include photo ID and proof of address with your round one letters to the bureaus. If you forget to do this, you're going to get a stall letter for sure. Mistake number four Disputing Online Some people are in too big a hurry. They rush to file quick disputes and give up all their legal rights. They go to the credit bureau websites and sign up for their online dispute process, thinking it's a fast and convenient way to repair credit. But what they don't realize is that the Terms and Service Agreement states that if you file disputes with them online, you're giving up certain rights and certain legal protections, limiting your ability to to take them to court. Now, I don't want to state the obvious, but you never ever want to give up your rights, especially to the big banks and credit bureaus. By disputing the proven standard way through the mail, you have more legal protections. So if your rights are violated, you can more easily go to court. And in some cases, you can even win a cash settlement. Yes, that's right. Cash Mosquitoes Mistake Number five Not Following Up Once you've filed a dispute, prepare to follow up and make sure that it's being properly investigated. The bureaus are legally obligated to respond within 30 days of receiving your letter, but they often take longer. Now, if they reply by sending you a stall letter claiming that your dispute is frivolous or that the documentation is not legible, then it's time to send a reinvestigation letter restating the dispute details and your legal justification for the dispute. Now, if you don't hear back from them and more than 40 days have passed, then it's time to send a no response letter reminding them of their legal obligation to respond. At that point, if they still don't take action, then it's time to get serious and send a bureau warning letter. In that letter, you warn them that you're considering filing complaints with the cfpb, the FTC, and your state Attorney General and further legal action. With these dispute follow ups, the key to winning is with patience, persistence and continually applying pressure. Now if you don't have the Round one reinvestigation or Bureau warning letters, you can download them for free@creditrepaircloud.com disputeletemplates and I'll put a link over there in the Show Notes. There's also one tool that can help you to avoid making mistakes and speed up the dispute process, and that's Credit Repair Software. Here's what you need to know. Credit Repair Cloud can import and audit credit reports with just one click. It can help you onboard clients fast, allowing them to input their own information and ensuring its accuracy. It can guide you to exactly which letter to send. It helps organize, customize and track each dispute. It can manage client process, automate updates and remind you when to follow up. And if you want six months of Credit Repair Cloud software for free, plus access to additional business courses, sign up for our Masterclass. You can learn more about that@creditrepaircloud.com free training here's my final point. Disputes fail for so many reasons. Some are avoidable and some aren't. Mistakes are going to happen. That's why pencils have erasers. But even tiny mistakes in the dispute process will slow your client's financial recovery. If you eliminate mistakes from your dispute process, you'll get faster results for your clients, you'll change more lives, and you'll grow your credit repair business faster. And I'll end by saying, if you want to learn more ways to speed up the credit repair process, check out my episode on Credit Repair Automations. And if you'd like to get certified in disputing and gain confidence and grow your very own credit repair business, check out our Credihero challenge. Doors are closing soon, so sign up right now@creditherochallenge.com and keep changing lives.