Skip to main content

Credit Sweeps FAQs Part 1




I am listing some of the most FAQs. We will post more tomorrow.  Please let us know if you have questions or suggestions by either commenting, calling or sending us an email.

FAQs:

 Why doesn't the identity theft method work on all negative accounts?
To use the ID theft method, a few criteria have to be met and a few types of accounts cannot be disputed:


  • The account cannot ever have been paid on
  • You cannot dispute child support, foreclosures or tax liens
  • (If you have not been a victim of ID theft, you may be sued for filing a false report)
  • Unless it is truly ID theft, you do not want to dispute bankruptcy this way
  • Charge-offs cannot be disputed this way, unless it is true ID theft


This method is very effective, but it does not work on all accounts. For a full list and examples of situations that may occur please inquire directly from us.

What can I do if the bureaus don't respond or delete within the allotted time frame of 30 business days?
We take care of this for you, as we do everything on your behalf. The CRAs have 30 business days to either respond to your disputes or to delete the unverified items. If the bureaus do not respond within this time, or the items or not deleted, we send a second round using a more stern approach when they are violating the FCRA. There are different letters for each situation, so we tailor them to your specific needs. After the third and final written request, we send an intent to sue. Pursuant to the FCRA, if the bureaus do not send proof of verification within this time frame, the unverified items MUST be deleted.

Why don't all 3 of the bureaus delete my accounts? Why did they only come off of 2?
For the most part, you will receive results back from each of the three credit bureaus. There has been an occasion that one of the credit bureaus will ignore your request to investigate your credit report. This may be a stall tactic on their part. Keep in mind they don’t make any money by investigating your items on your credit reports. So there is no real benefit to them to do this, only a benefit to you! If this does happen, and you have waited at least 60 days from the date that you mailed the original letters/documents to them, then please forward what you did receive from the other two credit bureaus and call our office to advise us of the situation. We will note your file and take a stronger stance on the next action and will not let the credit bureaus get away with it!!

 Can I do the ID theft if I have ever mad a payment?
Please see question #1. If you are claiming ID theft, then no payment can ever have been made on that account. Think about it- if someone used your identity to open an account, why would you have paid on it?

 If I have a file that is already started, can you finish it?
You would need to forward to us all the paperwork that pertains to the file. This includes but is not limited to:
  • All dispute letters
  • Proof of mailings
  • Correspondence from the bureaus
  • Correspondence from any creditor or collection agency
  • Id theft report if applicable (police report and FTC report)
How long do the bureaus have to respond?
Pursuant to the FCRA, the CRAs must either verify with proof or delete within 30 business days. 





Comments

Post a Comment

Popular posts from this blog

Tips for my brokers; Craigslist, Facebook, websites, advertising and more!

I work 90% with brokers, 10% with clients, and I actually prefer to work with brokers, as I have contact with only one person instead of 300 clients. So considering there are 528 of you brokers, I figured that I would post some tips and tricks for my brokers. I will break it down into sections to make it easier reading, and if you have any questions, comments or suggestions, let me know! Advertising Advertising can be a serious pain in the butt, and it is utterly necessary for a business like this one. I will give you a couple of suggestions that work for me. I am mostly just word of mouth now and do not need to advertise, as I have thousands of clients, but there are days when I do put my business out there again for new clients. Craigslist It is quite difficult to advertise with CL now, but there are tons of ways to get around being flagged or to prevent it from happening. CL is the 4th most visited site in the  world , so that right there should tell you that you need...
Post a Comment
Read more

3 Resons why you should wait to apply for new credit

Applying for new credit before all derogatory items are deleted: My advice to my clients is always the same: wait until you're done with your credit repair or credit sweep program, but have a strategy to move forward from there. Here's a few reasons why: #1 you may be denied if you still have 1-2 items remaning and will end up with new inquiries that will drop your score #2 it may hinder the process of removing the last few items and can add 1-3 months to the timeframe #3 you may be approved with a very low limit and would have to wait 3-5 months prior to requesting an increase. In comparison, you can wait til everything has been completed and obtain a higher limit right off the bat. Here's a real-life example: I have a client would only has 4/86 negative items remaining and he wanted to move forward with his mortgage. I advised him to wait because (see #1) it would add inquiries and he may not be approved. He'd mentioned tha...
Post a Comment
Read more

How to Fight "Verified", "Frivilous" & will not reinvestigate" Responses

https://www.expertcreditsweeps.com/book-online to schedule your free consultation! Are your disputes coming back as verified, frivilous or they won't reinvestigate? Are you going to accept stall tactics, scare tactics and denials? NO! What you need to do is look at your credit repair or credit sweep process and figure out the cause for these responses because you shouldn't be receiving them if you're doing this correctly! Are you sending in template letters? Disputing all of your derogatory accounts in 1 letter? Using generic dispute reasons? Using a credit repair company that's doing any of these things? One of these can be the reason you're encountering this and you need to stop right now. What can you do? #1 Don't use dispute templates #2 Dispute based off factual info from your credit report #3 Find out HOW the items are being "verified" #4 Fight them on the "frivilous" response #5 Make complaints #6 Don't take "NO...
Post a Comment
Read more