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Credit Sweep Q&A #1




Credit Sweep Q&A #1:

What is a credit sweep? What does this mean?
A credit sweep is where we dispute the negative items contained in your credit report to get them deleted. Basically just "sweeping" away the negatives. We delete 100% of the negative items. There are restrictions, which I will post further down the page. Of course, there are items that we will not be able to get taken off, either because they validate with proof, as demanded, or for some other reason within the law. We do sweep all 3 bureaus and the inquiries as well. 

Which items can be deleted?
(Not to be limited to)
  • Late payments
  • Collections
  • Charge-offs
  • Bankruptcies
  • Judgments
  • Liens 
  • Inquiries
  • Foreclosures
  • Identity theft
  • Incorrect information
Which items cannot be deleted?

Child support
Foreclosures in process and unpaid
Tax liens 
*We are able to remove tax liens with proof of payment arrangement or proof of full payment

What is the time frame?
The turn around time is 45-60 business days to complete the file. Business days, not calendar days. Let me explain why this takes so long:

  • By law the bureaus have 30 business days before they even have to look at your disputes, (unless it is the identity theft method, in which there are different laws that govern).
  • It then takes time for their results to reach the client via USPS mail. 
  • At that time, we have to respond accordingly to the results of the investigation. This could mean that the items were actually deleted and no further action is needed. It may also mean that the bureaus violated your rights and refused to furnish the information required. If this occurs, another demand must be sent out, which would be considered the 2nd round of disputes. After the 3rd round, we do issue and intent to sue. 
  • Depending on the client's file and the actions of the bureaus, this may take even longer than the 60 business days to complete. No matter what, we do complete the file and get the items deleted.
  • Most items are deleted within the time frame of 45-60 business days, as we send the the correct dispute letters requiring them by law to execute the necessary deletions.
How much does this cost?
The price for a full credit sweep is a one-time payment of $600 via debit or credit card, unless the client is local. There may be an extra charge if you have more than 15 inquiries. If the client is local, we do also accept other forms of payment such as cash or bank wire. No checks accepted. All online orders are to be paid via debit or credit only. We used to charge $4550 for our sweeps while we had a business front in downtown Brooklyn, NY. When my husband and I decided to close the store and work from a satellite office, our clients were delighted to learn that we dropped our price to only $500! Why do this? Here are a few reasons: We were no longer paying $15,000 in office rent per month, utilities or other such hassles. 

Unfortunately, we will not lower our price to accommodate the client. If one cannot afford our cheap prices, one will need to wait until they accumulate the correct amount to retain our services. Postage alone may cost us up to $150 per sweep, which does come out of the amount that is paid to us by the client. 

Broker discounts:
Brokers may obtain a discount for the sweeps by purchasing in bulk. The minimum bulk order is currently 3 sweeps, and the discount per sweep is $100. This means that instead of paying $1500 for 3 sweeps, the broker will be allowed to pay $1200. A $200 per-sweep discount may be taken off if the minimum bulk order purchase is 10. This equates to a $2,000 discount off of of $5,000 purchase, whereas the broker pays a total of $3,000. Client information does not need to be submitted at the time of purchase. Sweep information may be submitted at any time after purchase, and the credit does not ever expire. The broker may purchase in bulk to obtain the discount and send us client info as each one is retained on their end. 

Are inquiries included?
10-15 inquiries per bureau are included in the cost of the sweep. We do have an extra charge per 15 inquiries in the amount of $25 after this. Postage for a sweep can run us up to $150, not including inquiries and to remove them we must dispute directly with the creditor. For example:

If a client has 6 inquiries on EQ, 15 inquiries on EX and 10 on TU, there is no extra charge.
If a client has 20 inquiries on EQ, 10 on EX and 6 on TU, there will be an extra $25 charge.
If a client has 56 inquiries on EQ, 6 on EX and 10 on TU, there will be an extra $75 charge. 
If a client has 60 inquiries on EQ, 60 on EX and 60 on TU, there will be an extra $100 charge. 

The cap on extra inquiry charges is $100. 

Do we offer the identity theft method?
Yes, we offer the identity theft method. Although we will sweep the client's credit file, they are required to do the online police report and also the online FTC report. We take care of everything after this. We do give all the instructions to complete this and in the event that the client's state does not offer online reports, we assist with this. To use this method, it is necessary the client was in fact a victim of ID theft; one may not use this to get items off quickly. There are certain type of accounts that may not be deleted in this fashion. If this situation occurs, we will use the regular dispute method for this. 

Contact:
Kristin
C: 845-481-0780
F: 888-347-6349
thecreditexpert@outlook.com

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