The Sky’s The Limit Credit Repair

FAQs

Is credit repair legal?

Yes, credit repair is legal, and it works because of the law. The
law is the Fair Credit Reporting Act, which was set up by
the FTC to protect consumers. The FCRA gives you the right to
dispute any item on a credit report. If that item cannot be verified
it must be removed. That is the foundation of all credit repair.

How does credit repair work?

The Fair Credit Reporting Act gives you the right to dispute any
item on a credit report. If the item cannot be verified, it must be
removed. This is the basis of all credit repair.
Credit Bureaus make a lot of mistakes

Nearly 8 out of 10 Credit Reports have errors! Errors come off

quickly, usually after 1 letter, but even accurate items can often
be removed. You just need to know the rules.

How do you increase credit scores?

By using the law in your favor. Increasing credit scores can lead
you to lower interest rates, better insurance rates, better
borrowing opportunities and overall much lower costs of
living. Overall you want to make sure you are paying your bills on
time, but there are other strategies that can help increase your
scores. I have outlined some of the most effective strategies
below:
 Remove Negative Credit

Up to 79% of all credit reports have errors and removing those

negative items is the fastest way to improve a credit score. You
can dispute any item on a credit report. If that item can't be
verified, it must be removed. Along the way, letters need to be
generated. Our software makes this super-fast and keeps it
super-organized.

Build Positive Credit

Building on good credit is easy, banks love to give money to those

that don't need it - because the risk is lower, however; building
positive credit can be tricky if your score is low. It may be difficult
to even get approval on a low limit credit card. If you have poor
credit and are not approved for a typical credit card, you might
want to set up a “secured credit card” or “secured loan” account.
This means that you may have to make a deposit that is equal to
or more than their limit, which guarantees the bank that you will
repay the loan. There are also ways to build credit by paying a
company to report your utility and rent payments to the credit
bureaus.

Increase Limits
Creditors periodically pull credit reports to see where clients stand
with other creditors, assess their risk on the money they borrowed
and also to determine if they deserve a credit line increase. Make
sure not be shy and wait for them to offer more credit, go ahead
and give them a call every few months to request a higher limit on
revolving credit cards and loans. Each time a limit is increased, it
reduces your utilization and builds your credit.
Inherit Positive Credit

A fast and simple strategy to add years of positive credit history is

called “piggybacking”. This is a technique that allows you to
inherit someone else’s positive credit by being added as an
authorized user or joint account holder to a credit card that
belongs to a family member. Without getting too deep into this
technique, please note that I said, “family member”. There are
companies that rent spots on strangers' credit cards, they are bad
news - stay away from them! On the other hand, if you have a
family member willing to help, simply find out if there’s a card with
a long credit history, high limit, and low balance. If so, call up the
creditor and get added to the card. All of the credit history will be
added to the recipient's credit and history, utilization of the new
card will be taken into consideration and ultimately the credit
score will adjust accordingly.

Get Those Balances Down!

The scoring system wants to make sure you aren’t overextended,

but at the same time, they want to see that you do use your credit.
Every dollar of debt on your credit report is a risk factor and
reduces your score. The lower your balances are, the higher your
scores go. As a general rule, you should use your credit cards at
least once every 90 days to keep the reporting active, but keep
your balances as low as possible, preferably your utilization
should not exceed 30% of your total credit limits. When
onboarding new clients, If possible, it’s critical to pay down
balances but to remain as debt-free as possible to optimize your
scores.

Mix it Up!
Although having a mix of different types of credit is not quite as
important as paying your bills on time, or keeping your utilization
low, credit scoring models love to see that you have a diverse
credit report, meaning you are able to manage different types of
accounts such as revolving credit cards, personal loans,
installment loans, auto loans or home loans. For example, if you
only have two credit cards and no other types of accounts
reporting, your report is lacking diversity so we recommend that
you work to open at least one or more additional, different type of
an account, preferably an installment loan - this will help improve
your credit diversity and help your overall score. One important
factor that you need to be aware of, if you start applying for new
accounts; hard inquiries will appear which has a short-term
negative impact. Also, new accounts being opened also has a
short term negative impact - so with that being said, don't expect
a sudden boost to your score just because you opened a different
type of account; however, as the new inquiries and new accounts
age - long term you will start to see the positive impact.

Does my client’s score suffer a hit if he orders his own

report?
No, not when they order their own reports.

Which Providers can I import from?

• Identity IQ (Affiliate Program available)
• Smart Credit (Affiliate Program available)
• MyFreeScoreNow (Affiliate Program available)
• IdentityClub (Affiliate Program available)
• PrivacyGuard
•
What if my client gives me a report from another
provider not listed?
In this case, I am going to have to import the dispute items
manually.

Which dispute letter do I choose?

I always start with a Round 1 letter, which is sent directly to credit
bureaus. This letter is always the same, so you don’t need to
worry about it. I use the Default Round 1 Letter in the system for a
quick send that will get your credit repair started.

How many items can I dispute at one time?

5 or more per month per bureau. Sometimes less, sometimes
more. But carefully so I am not being flagged as frivolous, which
is something difficult to overcome.

Do I have to include a Photo ID, Social Security Card,

or Utility Bill with my dispute letters?
You only need to send them with a Credit Bureau Round 1
dispute. You do need to send a copy of a government-issued
photo ID. A social security card, or utility bill, or an insurance bill
will also work or even a phone bill. They must see some official
proof of address or the dispute letter will often be rejected.

Who signs and sends the dispute letters?

Most companies sign and send letters on behalf of the client. My
clients are paying me for document processing, so this is all part
of the service I provide.

Should my clients send the dispute letters

themselves?
As a credit repair company owner, and certified credit repair
specialist, my clients are paying me a fee to do 2 simple things:

1. To send dispute letters for them.

2. To teach them how to better manage their credit.

Should I put legalese into my dispute letters?

Absolutely not. Credit Repair Letters are sent “as if” they are from
the client so this will definitely be a red flag unless the client is an
attorney. The best dispute letters are very simple and very short
and just state simple facts as concise as possible.

Should I send all letters certified mail or regular?

This is up to me. Sometimes I might want to send regular mail
(like for a round 1 letter) and other times, I might want to pay extra
for the certified for tracking if the bureau or creditor is stalling
or it’s a particularly important letter. *I always send Round 1 by
certified mail.

Why send everything by snail mail? Can’t I do this

online?
Snail mail is how credit repair works best. This is the same
method used by the largest credit repair businesses in America
who make hundreds of millions of dollars.

What happens after round 1?

Round 2 of course! So, each time I send a dispute letter to a
credit bureau, the bureau will investigate and mail a response
back within 30-45 days depending on mail time. The response
letter they send should include the results of each investigation for
each item disputed. Make sure you send me the responses so
I can determine what to do next.

When we open the envelopes, usually we will find the results of

the investigation which will generally look like:

• A couple of pages of consumer disclosures advising you of

your rights.
• A blank page intentionally left blank.
• A full or partial credit report.
• An investigation results page, listing the accounts which
were investigated, along with the outcome of each
investigation.

The investigation results page is what we're looking for.

The next step you take depends on the response you received.
There are many ways it can go… But for the sake of simplicity,
there are 3 different response types:
1. No Response: meaning you do not receive any response in
the mail. If one or more of the bureaus does not respond, I
can follow up with a “no response” letter template.
2. Verified: meaning, the bureau refuses to delete them. This
could be a letter verifying the item, or it could be a stall
letter. If the information was verified, I can follow up
requesting the method of verification, I can send a warning
letter or even file a complaint to get their attention. If it was a
stalling letter, the bureaus may be asking for more
information or they just dismiss your investigation due
to a reason they think is sufficient. I have over 100 letters
in my library to suit any situation.
3. Deleted: this is the result you want - the bureau removed the
information from your report! If the item was deleted, I can
start over with Round 1 and dispute additional items. Also, I
go to the "Dispute Items" page and change the status to
 deleted.: Once I update the item to "Deleted" status, you get
a notification.

Remember, every cycle will be different. Each credit bureau

maintains its own records and has different procedures, so you
will often see items removed on one bureau, but not the next. I
simply review the results for each round and make a decision on
what to do next

This is simply a summary of what comes after Round 1. There are

many additional strategies including direct furnisher disputes,
validation demands, goodwill interventions, factual
disputing, filing complaints, debt settlement and a range of
credit building techniques I can do to get my client's results.

My system makes it super easy to keep track of everything.

How do I update Credit Repair Changes? Should I

import it again?
I never need to import twice for any client. That is just wasting my
time. When I add a new client, importing the credit reports is the
best first step (or add them manually, that is equally fast).

My Credit Report Import Tool is a huge time saver. It highlights

what’s negative on the report, so all I have to do is just run the
dispute wizard to create your Round 1 letter. But after I've
imported the first reports, I don't necessarily have to import each
month. After all, all the credit items are already in the software
from the first time I imported.

So, am I saying that my client should not keep the credit

monitoring?

No I'm not saying that. It is truthfully up to the client.

My clients are undermining my work by applying for
credit and keeping high balances. What do I do?
Cleaning up credit reports is awesome, but an equally important
part of my job is to educate you, so you won't fall back into the
same bad patterns that got you into credit trouble in the first
place. If you continue to apply for credit, if you pay any bills late
or if you continue to max out your credit cards your score will
suffer.

Discussing which items to dispute

I consult with the client and only dispute the negative items on the
analyzed report that I provide.

There is a simple method for this:

• Simple method: Go over the report with the client. The

client should tell you which items accurate and which items
are not.

Make sure you have a contract in place

It includes:

• My company name and address

• Your payment terms for services (if applicable)
• A clear description of the services I will provide
• Any guarantees or refund policies (if offered)
• Authorization for Credit Repair Action (this is like a limited
power of attorney)
• The expected time it will take to achieve results (estimated)
• A copy of the FTC’s “Consumer Credit File Rights”
• A cancellation notice giving clients 3 business days after
signing to legally cancel.