How to Respond to Credit Bureau STALL LETTERS in 3 Simple Steps!

Hey credit heroes. Credit repair is always changing. There are always new tactics, new letters, and new policies to put into place, but some things never change. The credit bureaus always want to discourage you from repairing credit because that costs them money. But you have to be persistent to really change lives. That's why today I'm sharing my expert strategies to combat stall letters so you can get results and faster. So you better stick around.

So the big question is, 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.

If this is your first time listening to my podcast, every week I give credit repair tips and advice on bootstrapping your business from nothing. So be sure to click subscribe now and get ready to start changing lives. Okay, let's get into this. Over the years I've seen a ton of changes to credit repair, including the introduction of credit repair software like Credit Repair Cloud. Twenty years ago, there wasn't anything to help me when I started to fix my credit after a bank error had ruined it. That's ultimately why I started Credit Repair Cloud. There have been new laws and new regulations introduced. There have been changes to disputing tactics, some legit and some that are created just to sell you something. But what's always stayed the same is that the credit bureaus don't want you to succeed at Credit Repair. Why? Because it costs them money to investigate each dispute. So they want to discourage you so you'll go away. While I've been seeing more and more questions from credit heroes about stall letters, the Bureau's wanting to slow you down. That isn't new. Here's how this relates to us. Have you received a stall letter from a credit bureau yet? I see so many posts about them in our community and they're almost like a rite of passage in your credit repair journey. Now there are three most common types of stall Suspicious requests, frivolous request, and insufficient identification. A suspicious request seems to be the most common stall letter. TransUnion sends this one the most. In this letter they say they received a request that included your information, but it didn't appear that you or properly authorized third party sent it to us and blah blah blah blah blah. Basically they didn't think it was from you. Insufficient identification is pretty self explanatory, but it Usually means that you didn't include the photo ID and proof of address. And then a frivolous request usually happens when you attempt to dispute too many items or every single item all at once. Now, when you get one of these letters, don't be discouraged, because that's what they want. That's why they send these. So don't fall for it. Just keep pushing. The truth is, there isn't a guaranteed way to avoid these stall letters. Okay? But there are a lot of things you can do to prepare for them and to fight back. Here's the thing to remember. Success in credit repair is built on patience and persistence. Try to embrace the challenges because they mean you're on the right path and they are the stepping stones to your success. But you also have to prepare for those challenges. Knowing that you're probably going to get stall letters and having a plan to tackle them is huge. And almost more important is honest communication with your clients. The stall letters that come in the mail, they look really nasty and they can freak you out if you're not expecting it. So let your clients know up front that getting a stall letter is a big possibility. So let them know what it might say and let them know that it's all part of the whole game plan. Here's why this is important. You can't forget that the credit bureaus primarily serve the big banks, not the consumers. They use confusing tactics in the hope that you'll just give up. But we can't just give up. The system won't change unless we fight back. But with a little bit of knowledge and determination, you can help your clients succeed and grow your business. Here's what you need to know. Use these three steps to fight back against stall letters and help your clients to reach their goals. Number one, keep applying pressure. The most important thing to do when you first get a stall letter is do not panic. Okay? Don't get discouraged, don't get intimidated, because that's what the credit bureaus want. Instead, stay laser focused and turn up the heat. Number two, be ready to adapt. Like I said earlier, credit repair is always changing and so are the tactics that work. So be prepared to try different strategies and learn from each experience. And make sure you continue to study the laws and learn from others in the industry. Recently, our super successful credit hero, Michael Franks, he shared that he's had huge success adding to his round one letters, very clear language, letting the bureau's know that if they send an automated computer generated letter, he's going to sue them. And he says that this has reduced his stall letters considerably. And then if his client does receive a stall letter, Michael has them file a CFPB complaint and he has them go to their local courthouse and file a small claims suit against them. This may not work for everyone, but it's important for you to consider all your options. And number three, use new tools as the needs of credit repair businesses change. Credit Repair Cloud is here to help with more and more stall letters being sent in response to template letters, we've now added an AI letter generator to our software. And now, because each letter is unique, the risk of the credit bureaus flagging your disputes as templates is reduced considerably. Cool, right? In the fight against unfair stall letters, you gotta use all the resources you can get. Here's my final point. Stall letters are a frustrating part of credit repair, but they aren't new and you can't let them slow you down. So stay calm, communicate with your clients, be persistent, and fight back. And now for my favorite part of the episode. Every week I feature one of our credit heroes inside our Credit Repair Cloud Facebook community so that you can see firsthand what real people are doing as they run and grow their business. And today's spotlight is on Tim Moultrie. Tim posted in our community saying, just got my first client. I signed him up while watching the Browns and Texans. Congratulations on your first client, Tim. And that's a great reminder to never stop promoting your business, no matter where you are, even if it's during a football game. And I'll end by saying if you still need a Credit Repair Cloud account, check it out. It's the software that most credit repair businesses in America run on. Just sign up for a 30 day free trial@creditrepaircloud.com and if you'd like to change lives and grow your very own credit repair business, check out our Credit Hero Challenge. It's a live experience that has helped tons of credit heroes to get certified in disputing and gain confidence as they run their credit repair business on a solid foundation so they can change a whole lot of lives and make a great living in the process. We're starting the next challenge very soon, so you want to join before the doors close or you're going to have a long wait until the next week. 1 so sign up right now@creditherochallenge.com if you're finding value in the things that I share on this podcast, click below to subscribe and follow. Also, give me a five star review or share the show and help me to change more lives. If you'd like to read the show notes, they're posted on my blog. If you have a question or a comment, drop it down below because I read each and every one of them. I would love to hear from you and I'll respond as soon as I can. And if you want to learn what else not to do, watch my podcast about five mistakes to avoid if you want to win Credit Repair disputes. So take care Credit Hero and keep changing lives.

Hey everybody, it's Daniel again, and really quick. I'd like to invite you to join what I believe is the best thing we have ever created inside the Credit Repair cloud community and it is a challenge that we call the Credit Hero Challenge. If you're just planning out your business or you're just getting it started and you dream of having a successful business of your own so you can quit your 9 to 5 and fire your boss and have financial freedom or so you can add another revenue stream to your existing business, if that's your dream, you need to get into this challenge. We created this challenge to help you to create and launch your very own Credit repair business to build a proper foundation for a really successful business. This challenge is going to help you to understand the strategy, the tactics and all the things you need to be successful at Credit Repair. It really is the greatest thing we have ever built and it will change your life. So I recommend you do it right now. Stop everything, pause this audio, go online and go to creditherochallenge.com that's creditherochallenge.com and join the next challenge. And there's a challenge that's starting in just a few days. So go get started right now@creditherochallenge.com.