Everything You Wanted to Know About Launching Your Credit Repair Business - Corey Gray (Part 2)

Hey, credit heroes. In the last episode, I sat down with Corey Gray, who is our resident expert and authority on credit repair here at Credit Repair Cloud. And between the two of us, we answered every single question that every new credit repair business owner wanted to know. We talked about disputes running your business, dealing with bankruptcies, getting clients, getting paid. You name it, we talked about it. If you are in the credit repair business or you're just getting started, and if you have burning, burning questions, well, then listen up because you are going to love the second half of my QA session with Corey Gray. So the big question is this. How can we take our passion for helping people with their credit and turn it into a successful business without taking loans, without spending a fortune by bootstrapping it from nothing so we can help the most people and still become highly profitable? That is the question and this podcast will give you the answer. My name is Daniel Rosen and welcome to Credit Repair Business Secrets. How do you feel?

I feel great.

Ready to answer some more questions.

I'm typically not not the video type person, but, you know, it's coming pretty naturally at this point.

I think we need to do this often.

Let's do it.

Really cool. Okay, so another cool name. Coffee. Oh, how do you say this? Coffee. Amanka. That's a cool name. Okay. He asks, is it beneficial to use FICO to pull credit reports for your customers who are looking to become homeowners instead of the other credit monitoring Services like Identity IQ, Privacy Guard, etc. I noticed the credit monitoring services use the Vantage scores where most mortgage lenders go off of FICO 2, 4 and 5, I guess, for the basis of accuracy. I'm curious to see what the difference looks like, if it even matters, and what the results are.

Sure. So this is a good question. Coffee. So, first of all, let me just say that there are a million different credit monitoring services to choose from and they all, a lot of them have their own scoring models and their scoring models is basically a bunch of mathematical calculations that they use to create the score. It's algorithms. FICO is the most widely used and that's what a lot of lenders use. But there's so much confusion. I could talk about the subject for like a few hours, but. So Coffee's asking if it's beneficial to use FICO to pull credit reports. Well, you can. The only place that you can pull your FICO score from is myfico.com and myfico.com is not going to be the same exact scoring model as what your lenders Use because there's version 2, 3, 4 mortgage insurance. There's all different types of FICO scores and the bureaus like to keep it this way. They like to make it as confusing as possible. So like FICO for example, it's on a scale from 300 to 850, right? 300 is the worst, 850 is the best. If you're on vantage just by memory, I think it's 450 to 990 if I'm not mistaken. And so really the different scoring models really just don't really matter because you're really looking at your score. Just to kind of give you a general idea of your score is good, if it sucks, if it's great. Because at the end of the day when a lender pulls your credit report and your score, that's the score that they use. They could care less about all these different monitoring services, all these different scoring models. They're going to look at the model that they're pulling from and there's a bunch of different models just for mortgage in itself. So some mortgage brokers might use version 2 or version 3 or version 4. So keeping track of it on a day to day basis, I really don't feel like is it's really beneficial to the client. You can go to MyFico and I think it's like 30 or $40 a month to keep up with your FICO scores. I would just use whatever scoring model you're using. And then when it's time to go ahead and apply for that mortgage or apply for that auto loan or apply for the business loan or whatever it is that you're trying to get. Just make sure that your balances are as low as possible, that you have as little negative information as possible, that you know you have the documents to support your income. So I hope that answered the question. Okay, it's a little, it gets a little with scores.

I want to add more to that. If it's as a credit repair client you're talking about, you're going to want them in the credit monitoring service that imports into credit repair cloud, okay? Because that's going to make it one click easy and otherwise you're working manually and it's going to be really, really super hard. So which system doesn't matter. All that matters is you get them into one service, okay, that imports in a credit repair cloud and then whatever their score is, that's your baseline during the credit repair. As a credit repair specialist, your job isn't to raise scores. Your job is to remove as many negative items as possible.

Remove the negative, add the positive.

Exactly. And attack errors first and go after the low hanging fruit first. And as things come off, of course the score is going to go up. But you don't want to focus on the scores. You just want that credit monitoring account to be the baseline and you start attacking those things. So you can, like you said, remove the bad, put on the good and then you'll know when all the issues are resolved on the report and when that client is ready to go. Have the mortgage broker run the report for their mortgage. Yeah. Does that help? I think that helped. Okay, let's go on to the next question. And this is two questions from Garblaw page. Okay, the first question is what is the best additional service to add to your credit repair business to keep the happy and paying for a long time?

Well, really for me it was just making sure that I did slow, steady progress. I mentioned this a bunch of times in Facebook. You know, a lot of people are saying, you know, dispute everything all at once and you get them done much quicker. And there's other people that say, you know, do it in four cycles and that's all you need really. My clients were preempted with, hey, this is a long term process. It doesn't happen because so many people are different. I would love to be able to show quicker progress and get a client done faster instead of saying that they'll be done faster and then not being able to perform. So you know, I told every single client coming in that it was a 6 to 12, sometimes 18 month process. We're going to dispute a couple of items every cycle and it's really all about persistence and pressure and over time we're going to remove negative information and add positive information and do everything we can. Other than that, I really didn't offer any other services. I a lot of other people are doing, you know, insurance or notary or financial planning. Some of them are offering business credit or tax prep. But Garbois really in my experience I really didn't offer any other add on services to keep them enrolled longer or keep them a client longer and monetize them more. It was really just straight credit repair. I mean that was pretty much it.

But there is like a, there are some secret ways to make extra money. You know, if you sign up as an affiliate for credit monitoring which if you're using credit repair cloud you can see the companies that offer it by clicking on my company, my company credit monitoring providers and then in there you'll see, you can just click to become their affiliate and then you're making a commission every month on that credit monitoring. And there are a lot of people in our community who actually make a lot of money at this. Jose Rodriguez has talked about how his mortgage payment and his car payment every month are paid for by the credit monitoring because it's recurring revenue. Many people keep it long after the credit repair is done. And it just keeps growing and growing and growing. So it gets bigger every month because you get more people signed up for it. So that's the things like that you can do and certainly business credit. Okay, there's another part to this question. How can you tie personal and business coaching business into credit repair services? And for me, I know that seems like two separate things, but I think it's a natural fit. I mean, any type of people business where you're learning things about your clients, it's a win, win. Okay. So if you're a personal coach and you know your clients have credit issues, you can help them with that. And likewise, many of your credit repair clients might need personal and business coaching. So I think it f. I mean, you'd be surprised how many different kinds of businesses offer credit repair. Mortgage brokers, like I said earlier, they could be your affiliates, but many mortgage brokers also do credit repair. Realtors use it because it helps them sell more houses. Tax people use it to make more from their existing client base, especially after tax time. I had an Uber driver a couple weeks ago who had a credit repair business that was a fun ride. And I'll tell you some really odd and businesses you would never think of. Like we have a whole lot of customers of credit Repair cloud who have hair weave shops.

Hair weave shops.

Yeah, because I guess you're there getting your hair weave. You talk hours sitting there and I think you just tell your whole life story. And so they have credit repair businesses and other businesses on the side. So anytime you're sitting there with your customers and learning their pain points, you can discover all kinds of other businesses to help them with. Oh, another cool name. This is from Lowe's Lows. Can you discuss or teach about business credit? Is it the same? How can the software be used for this? And what is the process for business credit disputes? So yeah, I want to answer this part because we get asked this a lot. You can't use credit repair cloud for business credit. It's just for consumer credit, but for knowledge about business credit. And business credit actually is a whole other business that you can offer your clients if you have credit repair clients and they run businesses or they want to start a business. There's a lot of information you can get on business credit. I know you know about it, Corey, but I also want to recommend. You might want to reach out to Ty Crandall. He also spoke at the last credit repair Expo. He's like the king of business credit. He has all kinds of resources on his site, which is called Credit Suite. And Ty is awesome. I'm hoping he comes to the next credit repair Expo. But he has all sorts of resources about business credit as well as services that you can offer your credit repair clients for to have additional revenue in your credit repair business. And the next part of the question is, how do you build business credit? I want to ask you, Corey, because I know you know this stuff.

Yeah. So yeah, Ty's definitely the guy to go to for business credit. I'm a little rusty on it, but I do know the basics. So, I mean, you know, your commercial business credit is completely different than personal credit. There's no consumer federal laws that regulate the business credit services bureaus that are out there. And there's three that are primarily out there. There's Equifax, there's Experian Commercial, and there's Dun and Bradstreet, which they also called D and B. D and B has a thing which they call the credit builder. And basically if you pay them, they will ask you to submit all of your different credit references. But they're pretty specific. They're not going to allow any credit cards, any rent or mortgages. And you know, it's really a process of setting up your D and B file. Now once you do, it's not like your typical credit profile where you have this regular credit score. With D and B, for example, it's called the Paydex score. That's on a scale from 0 to 100 instead of 300 to 850 or 500 to 990 like the different scoring models out there. And it's based on a lot of different things. It's based mainly on how quickly you pay your bills. It's really not based on how many different bills you have. And there's a process that you go through. You can't just come in and start applying and getting approved for credit. You really need to start out with different vendors that offer either net 30 or net 60 or net 90 where, you know, you apply for an account and they tell you, hey, we'll give you X amount of credit. And then you need to pay it back within 30 days or 60 days or 90 days. But the faster you pay it back, the more it helps your paydex score. So, you know, there's a bunch of different places that you can start off and tie is probably the best resource to ask on this. But there's a bunch of different ones like Quill Office Supplies, Uline Staples, Office Depot. They'll, they'll get you started. And then once you have a few accounts there, then you can start going after the major revolving accounts, you know, which are going to be like, you know, Walmart and Amazon and Sears and those types of stores. And then eventually you can work on getting business financing which are, you know, large revolving trade lines or business capital, that type of thing. I'm not the best person to ask, but like Daniel said, reach out to Ty. It's I think his emails Ty credit suite and it's S U I T E not S W E T or.

Just go to his site. He has all kinds of free guides there, there you podcast. He's amazing and he really is the king of business credit. And plus he has built in things where you can, I think he's got business credit available that you can offer your clients and that becomes a business for you. I'm not certain about that, but he's a cool guy and check out his.

Site and let me just elaborate just on that just a little bit because, and some of this I actually learned from Ty. So, you know, you want to make sure that you use your accounts. If you don't use them, they're going to go dormant. And business credit is different where if you, it's not about making sure you pay your bills every month, it's how quickly you pay them. So after the order is shipped out, then you can pay it right away. And the faster you pay it, the faster it's going to build your paydex score. And then another little tip here is to make sure that you, everything that you have to pay, try to use your business credit for it. Whether it's for office supplies or your utilities or your rent or however you can pay it, try to use that business card that you have. And then last but not least is personally guaranteeing those business accounts. So if you, if you're applying for an account and they ask you for to personally guarantee that account, usually they're going to ask you for your social. So if you can try to just leave that, that space blank, just leave your Social Security card, your Social Security number off of it because if you, they don't require it. They ask for it, but they don't require it. And then some of those digital online applications will actually ask you to put your Social Security in there. And if they do, just go ahead and call the company and ask them for a printed application that you can mail in. And then leave your Social Security number blank. Because the last thing you want to do is personally guarantee your business credit for liability. Number one, if the business goes sour, you don't want to be on the line for it. And then number two, you don't want them looking at your personal credit unless you have fabulous personal credit, which most people don't. But if you don't, then you can just leave that blank. So just a couple of quick little tidbits there for you.

But the whole idea about the business credit is that it's not attached to your Social Security. It's its own thing, just based on your business and your EIN number. Right.

But if you give them your social, you're personally guaranteeing that account.

So don't give it to them.

Don't give it to them.

Yeah. Okay, next question. What is the correct proof validation? Does the original creditor and collection office have to provide the same level of validation or is one more than the other?

Okay, so only third party debt collectors are required to validate debt. Unfortunately, the original creditor really just doesn't have to do it. If you look in the ftcpa, it doesn't pertain to original creditors. It is only third party debt collection agencies or collectors.

Okay, next question from Lowe's. Lowe's. After all debts come back verified on round one, what do you do?

All right, so I've covered this extensively in the community over the past couple of weeks and wait till this next week comes out.

And this is a good one. Another from Loewslos. After all debts come back verified on round one, what do you do?

All right, so you definitely don't want to take it personally. You, you don't want to give up. What you want to do is you want to go ahead and aggressively reinitiate the dispute. So if they say that it's verified, you can come back and say, why is it verified? Show me the method that you verified this account. That's the MOV letter. Or you can demand a reinvestigation, or you can send a warning. You can make it very clear that you're not taking no for an answer. You can send off a notice of intent to file a lawsuit, or you can start filing complaints with the FTC or the state AG or the BBB or the cfpb and then include copies or screenshots of those complaints and mail them off with your reinvestigation demand. So whatever it is that they say doesn't matter. It doesn't matter. If they say, you know, you're polka dot today, you're going to come back and tell them that that is not correct and that you want to pursue this further. I mean, eventually there's going to come a point where, you know, you've hit a brick wall and then you can proceed to the creditors. And what I always looked at it, I always looked at it like, hey, it's a little bit of work every once in a while. If they say no, I say yes and we just continue along the path. And then if it gets to a point where I hit a brick wall, then we can move on to the creditors or we can just start right back over at the beginning of the yellow brick road and start over with round one. And you'll be surprised over time if you just keep pestering. Eventually the squeaky wheel gets the grease and items get removed that way.

Yeah, you wear them down. Yeah.

And then you also have the option of, you know, if it's a balance on an open account, you can always work to get a paper deletion. Or even if you don't get a deletion, you know, if it's not too close to the statute of limitations, you can just settle it and then once it's settled, they have less of an incentive to verify it and you can dispute it and go through the process again. So it's really all about persistence and pressure, in my opinion.

Amen. Okay. Loewslow's asks, can you really get late payments removed?

Yep. I don't know how else to answer that. Yep. I mean, just like any other item, you know, you dispute them and you do your best to remove them. You could do goodwill interventions where you ask the creditor very nicely and you know, in lieu of making future on time payments, give them a really good excuse, give them a tear jerking response, send them to different executives in the company that you're dealing with with a really good excuse. Whether the mail was late or you were having a baby that day, or you've got 10 kids that, you know, you know, need a new playground or whatever it is. You just keep persistent and keep applying pressure.

Exactly. And especially if it's an account the client has had for a long time and it's still active, but they went through some kind of, like you said, a big Life event. We have letters in credit repair cloud. It's called a Goodwill deletion letter. And you just fill in the life event you had and why, you know, it caused you to be late, but that you've been a great customer for all these other years and to give you a break. And very often they'll do it.

Yeah. And just to add on to that, I actually had a unique opportunity of studying Lexington law for substantial period of time. And they have this thing called focus tracks, which is really interesting because it's basically giving you excuses based on your life events. So it could be, you know, they ask you a series of questions, you know, why is it that this is inaccurate? And it's either, you know, a medical reason, or maybe you were in the military, or maybe it was due to divorce, or maybe it was due to some other life event that caused this. And those life events play into your credit because your credit is your life. I mean, it's everything that you've done financially. So I think if you just continue to be persistent and apply pressure and work every angle possible, you'll be really surprised to see what kind of mountains you can move. Yeah.

And just keep at it. Just be like a gnat. You know, gnats that fly around and they just bug. Yeah. Okay, here. Let's get through the rest of Los Los's 15 questions. Do you dispute every single account? As long as there is anything negative on there at all?

I don't know if I really fully understand that, but I would just con. I would just systematically dispute up to five items at a time. Be persistent, apply pressure, and keep going until they're deleted. Doesn't matter how many items there are or what you feel is inaccurate or not. I mean, you're just continually applying pressure.

Yeah.

And a lot of people say, why can't I dispute everything all at once? And why do you say 5 or less? Are we trying to milk the clients for money or all these conspiracy theories? And really, it's just about. If you dispute more than five or so items, a handful of items, you run the risk of the credit bureau flagging your disputes as frivolous. And then you're fighting that too.

Yeah, I got tired of that early on. I mean, it happens so frequently that, you know, five items. If you can delete three items every cycle, you're in great shape. You know what I mean? There's no need to be, you know, greedy. You just, you're going to go after a few and sprinkle in a couple of things. I Mean, you might dispute three collections, one public record and one piece of personal information. Or maybe three inquiries in one collection and two pieces of public records. Whatever it is, it's much more realistic and you just don't want to get flagged. And customers tend to really like the fact that they're getting slow, steady progress rather than a couple of deletions and then no progress. That's the way I always looked at it.

Absolutely. Now, we're in a little bit of a quantum here. We need to end this soon, but we have so many questions left. We've got someone coming here to crc. You can meet him. Right, Keenan? Okay, I think we're good. Do you want to hear more answers? More questions and answers? Is this valuable to you guys? If so, write it down below and let us know. We're going to power through these other questions from Los Lo's. Okay, here we go. If a debt is shown twice because one creditor took over the collection, who do you dispute to be taken off the report?

Yeah, so I answered this earlier, so with. I think it was one of Ron's questions. So if there's a creditor and a collection agency reporting the same account, that's actually legitimate credit history because it's showing the original creditor transferred it to the collector. The only thing is, is they can't both show a balance. If both of them are showing a balance, then that's something you can dispute as factually incorrect. Otherwise, you just got to go at it and dispute both of them as questionable or whatever the case is.

Okey doke. Another question here from Los. Can you clarify the debate regarding partial account numbers on credit reports and whether they can remove. Be removed on that basis? Well, there is no debate. There's no debate on that. The credit reports will always show partial numbers and a whole bunch of X's or asterisks censoring them. Yeah.

So no, it's not a reason to delete at all.

No, no. Okay. What's the best form of marketing I.e. facebook, website, affiliate, etc. What do you think?

My niche was always with affiliates. I mean, I did every type of marketing under the sun. Really creative things that most of them didn't work out. But what I've been hearing just through the grapevine is really, you know, social media, whether it's Instagram or Facebook, influencer marketing. Kevin Carroll, his presentation at the last expo, like, blew my mind. I actually went online and started looking him up and. And so he pays, you know, this comedian, this guy, he's got, I don't know, a few hundred thousand followers. And he pays him, you know, $1,000 to put a video together and then post it on his Instagram or his Facebook or his YouTube channel. And the guy's website just blows up. I mean, hundreds and hundreds of clients signing up from one influencer. I mean, that's kind of a ballsy way to go about advertising. Probably why I never did it. But that was really interesting to me. I know Facebook is giving some people some problems about advertising. I mean, I did online webinars where it sounded like they were real, but they really weren't. I mean, they were real webinars, but they weren't live. They gave the feel and the look that they were live, but kind of like, you know, Tony Robbins, he'll do, you know, he can't be in Fiji and at his resort and all these other places at the same time. So he'll pre record a webinar and then he'll advertise it and there'll be a countdown clock. But it's not really that it's going to happen at that time.

I've heard of people doing things like that right now.

It was one of the most successful things that I did with advertising was the automated marketing webinars. But anyway, there's so many different things you could do. You know, I think you're probably better off explaining this than I am.

Yeah, Again, I think if you're just.

Pan over to Keenan.

Keenan's the market, he's the marketing guy. But I really. Come here, Keenan. You want to hear Keenan? He's like really the marketing wizard here. Come here, Keenan.

There he is. Marketing guru.

So I mean, the question was really, what are the best forms of marketing? Well, I'm actually putting together a course right now on, on really taking Internet advertising. But yeah, Corey, what you were mentioning about Kevin Carroll's approach is definitely kind of some of the future of marketing is the Internet and finding different ways to market online. I mean, if you're just getting started and you don't have ad money to put against something, you could go into different Facebook groups and just provide value. And that's one way of getting really free traffic in the Internet space. Could just be going into various Facebook groups, providing different credit tips and values. Like there's tons of Facebook groups on.

But not selling. Providing value.

Exactly.

Give, give, give and then ask.

And then on your Facebook profile, if you provide so much value and people are so curious about how, how you've actually provided them so much Value you can actually go put back on your Facebook profile. Links to your credit repair company, links to other resources of getting a free consultation with you, Things like that. That's how a lot of people get started with just no ad budget at all. Just go into different groups. Maybe it's a local community or maybe it's. Or maybe you find different groups on financial planning or budgeting or anything related to finance or credit groups and provide value and then help lead people back to your own profile where people can learn more about your services. That's one free way of doing it. But then there's definitely other ways to explore down the road if you have ad dollars. But that's one quick tip.

That was awesome. Thank you, Ken.

This is so cool. This is like the college of the future.

Impromptu.

Yeah, I think it's great. Let's see, Ken. Oh, there's so many questions left. We might have to cut this off. Let's see, what's the next one? Products and services which can be provided. We covered that. Oh, how can you help a client that has little to no accounts to dispute but needs a higher score?

So has zero accounts but needs a higher score.

Little to no accounts to dispute but needs a higher score. So I think I might have passed over a couple questions here, but sign them up for credit builder card. Okay.

Add positive credit is definitely one.

And then sign them up for jewelers card. That'll be positive credit.

Yes. You want to have a couple of positive trade lines, specifically revolving. It's good to have a mix. Maybe you want to get an installment loan, whether it's an auto loan or maybe it's some sort of personal loan from your bank. You definitely, you know, you may not see anything negative there, but you want to clean up anything that's there. Maybe there's a couple of inquiries or maybe there's some conflicting personal information. The wrong name, the wrong address, the wrong employment information. Clear out anything that's not currently their current full name and address and personal information. You know, other than that, I mean, there's really not much you can do. You know, once everything negative is gone, they have the right mix of credit accounts and their balances are low. That's about all you can do to optimize the square.

Amen. Okay. How often do you follow up when dealing with new free clients?

I think whether they're free or not, you know, whether they're paying or not, it's good to stay in touch with them. Whether you're sending them a text or an email, you know, Once a month. I think that one of the keys to making sure that your clients pay is to ding them with a email or a text message a couple days before their payment is due. Just let them know you're working on their account and their account is going to be debited on a certain day of the month. That's going to preempt them and I think that's really going to cut down on your chargebacks or your declines. But other than that, I mean, it's really about the expectations that you said in the beginning. If you tell them, hey, I'm going to call you once a month, call them once a month. If you tell them, hey, look, no news is good news unless I call you, just keep paying me. They're just going to keep paying you and they're going to assume that no news is good news. So it really just depends on the expectations that you set. Whatever you tell them you're going to do, just make sure you follow through and do it.

Yeah, I say communicate as often as possible. Also, credit repair cloud has all kinds of built in things that happen. Every time something changes in their account, the score changes, et cetera. Emails get sent to the client and you just want to really, really always be showing value, show value. You're not going to get chargebacks and you're going to have happy paying customers. Okay, now one more thing, one more.

Thing I just want to mention on that. If at all possible, set up some sort of system where you're letting them know when good things happen, right? I just said no news is good news. If nothing's happening, just keep paying me and we're going to keep working for you. But if good news is happening, if you get a deletion or your score increases, let them know, like tell them, like text them, email them, call them. Hey, I've got good news for you. Your score just went up. Keep paying me. So you know what I mean? Just stay in touch with them.

Absolutely. Okay, now we're going to get in. We have so many questions. We got to end this. We're going to do lightning round. Let's do really fast answers to all these questions. Ready? Okay. Lorraine Sunshine says leads. Leads. Leads please. I know there are many unique ways to obtain this, but lead automation would be great to have if possible. Leads are not what you need.

Clients, what you need referrals, you need referrals. You need to just get creative with your marketing partner with different financial services professionals. Just get out there, get mortgage brokers, loan officers, realtors, auto Dealerships. I mean, we had every different type of financial service professional under the sun. I mean, we had, what do you call it, Basically, people that were going in for different types of surgeries, you know, different cosmetic surgeries. Whether it was, you know, bigger boobs or vaginal rejuvenation. All of those people wanted, you know, needed credit repair to get approved. So work out agreements with those, with those affiliates. Let them know, hey, send me your clients. I'm going to sign them up. I'm going to get them enrolled in the program. I'm going to educate them, I'm going to get them in the program, and then you're going to be able to track their progress. You can go log in, see what's going on right here, and you'll be the first person to know that they're ready to be approved for their vaginal rejuvenation.

There you go. I'm going to add that to my list of things like solar and everything else. You got to have credit if you want to be rejuvenated. Okay, Tanika Richardson. And this is the lightning round. We're going to answer these fast. Tanika Richardson says, I have a client that has three mendescent collections that say untitled. There's no account name. Is there a specific letter for this? And when choosing a reason, do I use the one that says, this is the wrong creditor for this item?

Okay. So I think she meant to type medical collections. And if they untitled. I've seen that a million times, and I love to see untitled, because if they report that their name is untitled, then who's to say that that account's accurate? So I dispute that. I would basically say in your reason, when you dispute it, say that this account's obviously inaccurate. You don't even list the name of the furniture. Get it off my credit report, and that's it.

Got it. Okay. Violet Cobbs Brantley asks, do you recommend doing a couple customers free to get their testimonials? And I say yes. If you're just starting your business, help friends, help family, come up with a process so that they do their testimonials for you. Get them on video. If you're doing this work for them for free and you're delivering results and value, capture that on video, use it on your site, Use it everywhere. What are your thoughts on this?

I agree with you 100%. I just wouldn't overdo it. I mean, you know, if you give too many people an inch will take a mile. You want to get the value that you're worth, I would just do, like one or two, just as a test, just to make sure you know what you're doing. Work out all your kinks, post your results in the community and tag me and say, hey, what should I do next? And you'll see me respond back and say, this is what you should do next. You know, ask for those reviews, that sort of thing. But I just wouldn't overdo it because you should be getting paid for the hard work that you're doing.

Exactly. But if you're just getting started, do help friends and family and just get your processes down. Okay. Violet also asks, how do you give them a guarantee that you can raise their score with a minimum point number? No, you don't do that.

You can't.

It's illegal. Do not do that.

Yeah, that's deceptive marketing, because you can't guarantee that. I mean, you could say that you guarantee it, but the regulators want to see that you're, you know, being transparent, that you're being, you know, up front, you're not lying. And that just sounds like a lie. If you've seen that in other places. Those are the types of places that just get shut down.

Exactly. Okay, I think we should jump here to the last question. Actually, no, there's two questions. Two last questions. Certified mail versus regular postage. What are your thoughts, Corey?

Only use certified mail when you're mailing to a collection agency that you want to bring. Be able to prove to a court or to a bureau showing that that letter was actually received. I see this question pop up so often. You're wasting your money. I did it for a long time. I mean, you got to fill out that green and white sheet and then the green sheet on the back, and then you mail it. And it costs 100 times more than what it would mail. Mailing, you know, regular mail. It's a waste of money. It's a waste of time. You know, you feel official and you feel like you're doing something important, but you're just wasting your money and you're wasting your time. So, you know, do whatever you want. If it. If it makes you feel good to spend an extra, you know, 15 minutes on each letter, it's really not scalable. If you're mailing to a collection agency where, you know, let's say that a collection agency is suing you and you demand validation, go ahead and send that certified mail return receipt. Because when the judge looks at it, you're going to want to say, hey, I sent this validation letter to ABC Collection company on this date and they weren't able to validate it. You know, so save that for the important matters where it's either legal or you want to prove it, or you just really feel like spending a bunch of extra money and time on nothing.

There you go. And now we're at our last question. Are you ready, Corey?

Yeah, I didn't even see this question. Which one is this?

How does piggybacking work? Piggybacking.

All right, so this is a topic that so many people talk about and there's so many different philosophies on it, but really it's all about inheriting positive credit history from somebody else other than you. Okay? So for a very long time, you can be added as an authorized user to somebody else's credit card and you would literally inherit their entire credit history for however long they had that card. And after a while, a lot of these different, A lot of different entrepreneurs figured out that, hey, we can make some money on this. And they started partnering with different people that offering them a way to make money by adding people to their credit card. And some of the credit card companies went along with it. They're like, yeah, you can add 20, 30, 40 authorized users. And after a while, the industry kind of caught up to them. I mean, it was, it was a big demand for it. And you know, people were getting mortgages for by claiming different credit references that they really didn't have. And after a while, lenders started to catch on to this. It was this big study. I sent it to you last week. I don't even remember who it was. It was a department of, was it the Department of Labor? What was that, Daniel?

I don't remember last week.

Anyway, there was this massive study done on it. And anyway, the, the creditors and the lenders started to, started to basically have a problem with it because all these people were inheriting credit history from complete strangers. So this whole industry arose from this consumer demand. And there were all these companies that were selling trade lines on complete strangers credit accounts. And it actually turned out to be essentially, the lenders look at it as mortgage fraud. So not only do they look at it as mortgage fraud, but a lot of the different mortgage brokers and different lenders out there will look at your credit report and say, hey, this isn't your spouse, this isn't your family member, and they'll remove that account from the credit report they pulled from you and recalculate your score. And it's like it never even happened. So you spend hundreds or even Thousands of dollars for this aged season trade line and it actually ends up not helping you at all. So in general, as a stance with our company, we, you know, with Credit Repair Cloud, we discourage anybody from using those Tradeline dealers, tradeline brokers. But there are, there is a way around it. And the way around it is you can still piggyback as an authorized user and you can still inherit that positive credit history, but do it with someone close to you and your family. Either a close friend, a relative or close family member.

Yeah, here's what I want to say. I want to jump in on this because this is a touchy subject and people bring this up in our community and sometimes people are trying to sell trade lines in our community and not only do the mortgage lenders see this as mortgage fraud, but the federal government sees this as fraud. And if you do this, if you're buying trade lines from people you don't know, this can land you and your client in jail. So this is a big deal. That's why we don't let anyone post about it in our community. We don't allow tradeline companies, they ask to be at our credit repair expo and be vendors and we say no, we don't want to be anywhere near this because it's highly illegal. People are going to argue in our community, but this is the truth. People go to jail for this. So we don't want to mess with that.

Let me piggyback on that, on that thought and just wrap this up real quick because I have to go to. So authorized user, you can piggyback on a friend or family's credit card account. You're simply asking the credit card company to add you as an authorized user, but it doesn't carry very much weight, especially if you're not the same spouse. The way around that is to be a joint account holder. So you're going to contact, you're going to find a credit card from a friend or mainly a fan, let's just say a family member at this point that has a low balance. If it has a high balance, it's just going to hurt your credit. If it's got a long credit history, the longer the better. And basically what you're doing is you're asking to be added as a joint account holder. There's a couple different caveats to this. If you are added as a joint account holder, you'll benefit from the full credit history and inherit the full credit history, but you're also legally responsible for it. So not only are you legally responsible for It. But if that account ever goes delinquent or that that primary on it files bankruptcy or stops paying on it, you're on the hook forever. You can't get out of it. So our basic disputing course which we're launching, what is it? Monday?

It's launching very soon. We're going to. There are going to be announcements everywhere. You're going to hear about it and it's. It is amazing. Corey has been working on it for months. It is an amazing course and it's going to really make your life easy.

Yeah. And we talk about the piggybacking method quite a bit in there. What to do, what not to do, what to stay away from, that sort of thing.

Exactly. And speaking of courses, we have another course that actually went live this week and it is free. When you log into Credit Repair Cloud on the right side, you'll either see an ad for the X Expo or you will see something about the free CRC certification. So you can take this course that's absolutely free. If you open the browser and you go to log into Credit Repair Cloud on the right side next to where you log in, you'll see this offer about the free certification course. If you're not seeing it, you're seeing the Expo instead. Open up a different browser because it's going to be doing a B depending on what browser you're in.

Really good. Isaac, my boy, he went through it, he. He just crushed it with this course. So anything you want to know about the software, this course is the thing to take.

Yeah, but the cool thing is. So Isaac does a lot of the. Well, a lot of our staff come and do the free software classes in Facebook. But Isaac, he just. It's a great course and when you take it and complete it, you're CRC certified, you get a certificate, you get a badge for your LinkedIn. It's super cool and it's absolutely free. And then over the next week or so, we're going to start promot, promoting and releasing Corey's amazing disputing course. So I highly recommend it. We're putting the finishing touches on it, but he already shot all the video lessons and it's really, really cool. It comes with all kinds of goodies. Anyway, so that's coming soon. We both have to go. You have to pick up kids. I got someone waiting for me for lunch, so this was so cool. Let's do this again.

Let's do it again. Daniel, it's great.

Okay. I hope you enjoyed this QA session with Corey, my only goal with this podcast is to help you to be more successful with your credit repair business. So be sure to click below to subscribe because I don't want you to miss any episodes and rate and review me. And if you have any feedback, please leave it in the comments. I would love to know what you think and I will see you the next episode. And until then, keep changing lives. Want more credit repair business secrets? Then get a copy of my book, the Ultimate Guide to Starting a Credit Repair Business. Get it free@creditrepaircloud.com freebook Inside this book, you'll find my top 35 secrets to removing items from credit reports and turning that into an amazing business that helps people, changes lives, and makes you a great living in the process. Get it free@creditrepaircloud.com freebook.