5 Mistakes to Avoid if You Want to Win Credit Repair Disputes!

Daniel Rosen  00:00

Hey, Credit Heroes, there are five mistakes that cause credit disputes to fail. And today, I'm going to explain how you can avoid them and get better results. So you better stick around. So the big question is this, 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. In the 20 years since releasing my first credit repair software, I have helped 1000s of businesses to build from the ground up. And during that time, I faced many of the same challenges that you're facing. But over the years, I've discovered proven ways to overcome them to grow and succeed. Credit Repair is a results-based business. If you want to be successful, you need to win disputes and get results for your clients. If the facts are on your side. And the law is on your side you have the tools you need to win disputes. But just because you have the tools doesn't mean it's going to be an easy round-one knockout. No, it's going to be a fight because the banks and bureaus are rich and powerful, and they play dirty. They'll use any excuse to stall or deny your disputes. So if you want to beat them, you can help them by making mistakes. 

Here's how this relates to us. Disputes can fail for many reasons. Some are avoidable, and some aren't. No matter how well-written your disputes are. Early round letters tend to receive automatic responses calling your claims frivolous or your paperwork not legible or suspicious. These annoying stall tactics are designed to confuse and mislead you so that you'll give up. Why do they want you to give up? Well, because then they won't have to investigate, and that saves them a lot of money. That's why they stall. And that's why they deny, in most cases, you did nothing wrong. But you cannot give the Bureau any excuse to stall the process or deny your claims. 

If you want to win and get results for your clients. There are specific mistakes that you have to avoid. Here's the thing to remember, winning your disputes will take patience, pressure, and persistence. We call them round-one letters for a reason. The fight has just begun. Whether you make a mistake or you receive an annoying stall letter, the only way a dispute really fails is when you give up. Here's why this is important. You can put your disputes in the best possible position to succeed. If you avoid these five mistakes. 

The first mistake people make when repairing credit is disputing something that they can't or shouldn't dispute. In these cases, they try to dispute accurate information, or when that fails, they try to remove everything from their reports; you shouldn't try to remove accurate information from credit reports without finding something inaccurate about how they're being reported. In some circumstances, you can request the removal by sending a goodwill deletion letter that you send directly to the creditor, but most accurate items, if there's nothing inaccurate about how they're being reported, are probably going to stay on your report for seven to 10 years. You also shouldn't try to remove everything from your credit report because, believe it or not, some negative items are actually helping your credit score your credit history is the most important factor in determining your credit score. If you delete a negative item that happens to be one of your oldest accounts, that loss of history can be far worse than what you gain from removing the negative account. So by trying to fix the problem, you make it worse. Now if you don't have a lot of credit history spread across multiple accounts. You can strategize item by item, account by account, and decide what can and should be removed. And that way, you don't dispute the wrong things. 

Mistake number two disputes contain inaccurate or incomplete information. These disputes fail because they can't be investigated by the Bureaus in some cases, disputes contain inaccurate information like the wrong day. gets the wrong account numbers or the wrong creditors' names. In other cases, basic dispute information is incomplete, like not including the actual reason for your dispute. Yes, these are embarrassing mistakes to make, but they're very, very easy to fix. Double and triple-check your disputes before you mail them. And when in doubt, add more details that back up your claims. 

Mistake number three is not providing enough evidence. The more evidence you can provide to support your dispute, the better if you don't provide enough documentation or none at all. There's a very good chance the Bureau will deny the dispute stall or ask for more information. So collect as much evidence as possible. This can be bank statements, a letter from the creditor, a police report, or anything else that backs your claim. Make copies of these relevant documents and attach them to your dispute letters. And always keep the originals. Each piece of evidence increases your chances of a successful dispute. Also, be sure to always include a photo ID and proof of address with your round one letters to the Bureaus. If you forget to do this, you're going to get a stalling letter for sure.

Mistake number four is disputing online some people are in too big a hurry. They rush to file quick disputes and give up all their legal rights. They go to the credit bureau websites and sign up for their online dispute process, thinking it's a fast and convenient way to repair credit. But what they don't realize is that the terms and service agreements state that if you file disputes with them online, you're giving up certain rights and certain legal protections, limiting your ability to take them to court. Now I don't want to state the obvious, but you never ever want to give up your rights, especially to the big banks and credit bureaus, by disputing the proven standard way through the mail. You have more legal protections. So if your rights are violated, you can more easily go to court. And in some cases, you can even win a cash settlement. Yes, that's right. Cash.

Mistake number five, not following up. Once you've filed a dispute, prepare to follow up and make sure that it's being properly investigated. The Bureau's legally obligated to respond within 30 days of receiving your letter, but they often take longer now if they reply by sending you a stall letter claiming that your dispute is frivolous or that the documentation is not legible. That it's time to send a reinvestigation letter restating the dispute details and your legal justification for the dispute. Now, if you don't hear back from them and more than 40 days have passed, then it's time to send a no-response letter reminding them have their legal obligation to respond. At that point. If they still don't take action, then it's time to get serious and send a bureau warning letter. In that letter. you warn them that you're considering filing complaints with the CFPB, the FTC, and your state attorney general and further legal action with these dispute follow-ups. The key to winning is patience, persistence, and continually applying pressure. 

Now if you don't have the round one reinvestigation or bureau warning letters, you can download them for free at creditrepaircloud.com/disputelettertemplates, and I'll put a link over there in the show notes. 

There's also one tool that can help you to avoid making mistakes and speed up the dispute process. And that's credit repair software. Here's what you need to know. Credit Repair Cloud can import and audit credit reports with just one click it can help you onboard clients fast, allowing them to input their own information and ensuring its accuracy. It can guide you to exactly which letter to send it helps organize, customize, and track each dispute. It can manage client processes, automate updates, and remind you when to follow up. And if you want six months of Credit Repair Cloud software for free, plus access to additional business courses, sign up for our masterclass you can learn more about that at creditrepaircloud.com/freetraining. 

Here's my final point. Disputes fail for so many reasons. Some are avoidable, and some aren't. Mistakes are gonna happen. That's why Pencils have erasers. But even tiny mistakes in the dispute process will slow your client's financial recovery. If you eliminate mistakes from your dispute process, you'll get faster results for your clients. You'll change more lives, and you'll grow your credit repair business faster. 

And just a reminder, this podcast is brought to you by Credit Hero Score. Credit Hero Score is the only credit monitoring service that integrates directly with Credit Repair Cloud get instant access to your credit reports and scores by signing up for a seven-day trial for only $1. Sign up right now at creditheroscore.com. 

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 businesses. And today's spotlight is on Marco Castro. Marco recently posted some amazing results that he got for his client 10 collections were deleted, and credit scores increased by 225 points. Well done, Marco; your clients must love you. Keep up the great work, keep posting wins, and keep changing lives. 

And I'll end by saying if you don't already have a Credit Repair Cloud account, check it out. It's software that most credit repair businesses in America run on. Just sign up for a 30-day free trial at creditrepaircloud.com/freetrial. 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 tonnes 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. Are you gonna have a long wait until the next one? So sign up right now at creditherochallenge.com. 

If you're finding value in the things that I share on this podcast, click below to subscribe and follow. Also, do me a favor, 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 that are 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, and I would love to hear from you. And I'll respond as soon as I can. If you want to learn more ways to speed up the credit repair process, check out my episode on credit repair automations. So take care of 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 started, and you dream of having a successful business of your own. So you can quit your nine-to-five 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 starts in just a few days. So go get started right now at creditherochallenge.com.