🔮 Today we're going over 10+ credit report errors you can use to remove charge offs and collections from a credit report and different dispute letter tactics. You can access this BulletProof Training at https://bio.my740.com (click on "store" and then Tactics). You'll be able to identify specific parts of an account on a credit report to remove accounts using the credit sweep method, and you'll find that getting results is much, much easier!
We cover what to look for on a credit report to remove charge offs, such as date last active, debt buyer collections, such as past due, and how to remove medical collections, such as with the HIPAA series, how to remove repossessions with the repossession series, how to remove bankruptcies and what to send out for inquiries. We will also explain a caveat of FCRA 623 and FCRA 611 that you should be aware of.
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⭐️ Video Notes:
0:00
So if you've been waiting for a video that breaks down the key points you should be looking for when you're disputing things like charge offs, collections, late payments, repossessions, bankruptcy, then this is not video. And the beauty of YouTube is that this video idea was actually given by a subscriber, they said, You should also create a checklist identify all negative items in a credit report for newbies like me. And this means if you're looking at a charged off account, what are the key points that we should consider when reading the credit report. So that is what we're going over today. And I've given you all the training that you actually need all the answers to the training so that you can learn how to do this yourself. And I'm even giving you part one as well as dispute letter tactics. And it's overview, and I'm gonna show you exactly where to access this, but you're going to want to stay to the end of the video because you don't want to miss it. Now, before we get started, I want to let you know that I posted a video yesterday, Saturday, the 12th at 8pm. That's really, really important because it explains why credit repair is illegal in the state of Georgia. Right. So this is a video right there. And you're also gonna want to check out how to remove every charge off from your credit report, which is right next to it. So let's jump right into this we have the very first train choose the recommended account elements to dispute a charge off, and this is for removal and outside of blatant inaccuracies. We have date last active date last paid first date of delinquency. Notice a dispute existence of it within 30 days from the date of first receipt of letter activity after the close date, date last reported late payment history and high balance is lower than balance. Here's the beauty of this, every single one of those is correct. So this is a checklist. So you're just going to check off each of those which of these are not recommended to dispute a charge off for removal unless blatantly inaccurate balance limit terms status, high balance type and open date. Again, every single one of those is correct. These are at the bottom of the hierarchy you do not want to use these unless it is your last resort. All right, choose the recommended reasons to dispute elite payment and this is for correction and outside of blatant inaccuracies. Inconsistent reporting between two to three credit bureaus and this would be like remove the late payments between date and date because experience shows 30 or 6090 on dates. But Equifax shows 30 or 60 or 90 on dates and TransUnion shows 30 or 60 or 90 on dates be oldest late payment dispute. So this would be where you say I was not late on date remove for an accuracy. Now both of these are correct. to dispute late payments to remove an account, you want to find the oldest late payment and dispute it as inaccurate and this is true. And again, I give you the solution sheet so you don't have to go and try to you know, figure this out yourself okay.
2:59
To remove a bankruptcy, you should find the inaccuracies in the following the court name, filing date and docket number that's going to be true. To remove an inquiry you should send a no permissible purpose dispute letter to the credit bureaus and dispute directly with the data furnisher using a proof of authorization dispute. That is true. Dream with third party collection, you should send the validation of debt LETTER series that's four letters directly to the collecting CME collection agency and dispute with the credit bureaus using the unknown series. And this is only one relevant per my video series that is true. To remove a debt buyer collection check off the dispute reasons that will give you the highest chance of removal. In other words, the big guns, late payments on a collection account. I mean, obviously that account is late by default right past due on a collection account that account was past due by default, hello, date last active and payment history each of those are going to be true. And then here again is where we place these in order for the dispute hierarchy one is most impactful and 11 is least Okay. So first data delinquency, high balance lower than the balance past due date, last reported status update date activity after the close date after account was charged off. Open date balance date was active. Notice that it should be limit and date last paid. So you're going to see down here that number one is the honest active to date last paid three notice a dispute for first date of delinquency, five date unless reported or status update date, six activity after the closed date after the account was charged off. Seven high balance is lower than the balance because the high balance is the highest the balance ever was. So how could it possibly be lower than the balance eight, pass do nine balance 10 open date 11 limit? All right. So now when we go over to our dispute letter tactics Now before we go any further, I'm going to explain where you can access this, you're going to go to bio.my, seven forty.com. Or you can even access it at bio dot ask dash kristin.com. You're just going to click on store, and it's going to be on this page, you're gonna see three things on here when I post it instead of just two, all right, what is the maximum number of accounts that you should be disputing per letter? What is the correct order from easiest to remove to most difficult, and we have late payments over two years old charge offs, foreclosures, repossessions, student loans, bankruptcy, so on and so forth. And then you should never dispute online because you give up your rights under Section 623 and section 611. And then that is a true or false Oh, here we go. What is the maximum number of accounts that you should dispute per letter? The answer to that is 10. Unless it's medical and with medical, it is unlimited. What is the correct order from easiest to remove two most difficult so number one is going to be medical collections number two utility bills and other third party collections, three judgments and tax liens for late payments over two years old. Five is in Greece six is late payments less than two years old. Seven is debt buyer collections, eight is charge offs, nine foreclosures and repossessions and 10 student loans and 11 bankruptcy. Now as far as never disputing online, it is true you should never dispute online because you are giving up your rights under Section 623 and section 611. Listed below are dispute tactics for round one. All right, again, again, we are going to go over the overview of tactics. Now this is going to make sense where it says to credit bureau FCRA to creditor fcba We're going to look at the definitions here we have the overview of tactics. So you're going to review each item on a client's credit report or your own. And if you're using an advanced management system like client dispute manager or even mine, the process is simplified because you will have a resource that's consistent and designed for this purpose. Alright, so the theory of multiple tactics is simple. If each tactic is accessible 20 to 30% of the time, you're consistently following up and being persistent, eventually each item will be removed. And quite often, it'll take multiple tactics time sequentially to be successful. Knowing that you are empowered with an arsenal of tactics that will provide you or your client with the best possible odds is important. So this is what a goodwill letter is.
7:26
This is what a FC be a info request is this is what a FCRA info request is this is what a FDCPA info request is original creditor validation debt validation repossession series HIPPA series and the Q w are RESPA series. Okay, method of verification, angry educated consumer demands and last notes. Okay, so the philosophy is this, let's say that a credit bureau dispute will only work for five or 10% of the time, or even 20%, let's say the goodwill approach will work for five or 10% of the time. And let's say that the angry educated consumer approach will work for five or 10% of the time, the F CBA, the same, the FDCPA validation the same, etc. If you keep trying these disputes, somewhere down the line, you're going to clean it up. And in many cases, trade lines can call for multiple tactics from the above outline, okay? So that's what a lot of people fail to understand and realize, if it were as simple as just one tactic or just one letter or just one anything, I wouldn't have 800 videos that break this down and explain this all to you. Okay, so if you want an easy way to basically learn how to remove these by understanding what to look for, and then you're gonna want to check out this bullet proof dispute letter training. So I hope you have a wonderful day again, to access this click on store at bio dot ASP dash chris.com. So that's it. I will see you tomorrow. Have a great one. Bye.
Transcribed by https://otter.ai
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