The Credit Repair Process

1. Order the Credit Files from the three major credit reporting bureaus.
2. Once you begin to receive you credit files, analyze each file thoroughly, compare similarities (account numbers, creditor names, creditor addresses, balances, identifying information, etc.)  Map out your process and plan for each individual file & your plan for all three files. In some cases, it’s ok to write one (the same) letter addressed to all three of the bureaus, sometimes it’s necessary to write individual letters to the different bureaus, in an effort to not cross contaminate or updated, where it doesn’t deem necessary.
3.   Determine the class of each item on your credit file (paid, owe, not mine, joint account, in collections, current, older than 7 years, not yours, etc) you may have other classifications it varies on an individual basis. Analyze your identifying information (name, address, birth date place of employment etc) Make specific not of any inconsistencies or irregularities found.
4. Identify the approach needed on each individual account & item. For example, A paid credit card that was sold to a third party debtor(collection agency) and appears on each bureau, but from a different company, needs some form of verification that it has been paid sent to the credit bureaus.  It also needs to be identified & noted that all three account listed on the different individual bureaus bearing different creditor names, account numbers and balances, are the same account. It may also help to send any “proving documentation”(receipts, confirmation letters) to the different companies, for faster response & compliance times. Let’s not forget, the credit bureaus are governed by the Fair Credit Reporting Act, use it to your advantage it is there for a purpose.
5. Before you begin to contact your creditors. Figure out which debts are “rightfully yours” & determine your “logical & sensible” goal to make payments on those debts. If you can afford to pay some of them off in payment plans, call and work out a payment plan, if you would rather (and have the ability, cash in hand) to pay in a lump sum. Call & negotiate a pay off.

*Note- When negotiating, be polite but firm, leave yourself some wiggle room so shoot lower than what you can afford, with hopes that you can get your targeted goal amount

1. Construct, write & send out your letters. Be careful with your wording, it’s very important to be aware of what you are saying and how you are saying it, use words wisely. It makes the difference in the response and result that you get, from the credit bureau & the creditor.
2. Wait for your responses. Be mindful conscious and aware of the different mail & letters that you get. Save everything for the time being.  Create a special place to collect everything that has to do with your repair & restoration.
3. Repeat Steps 1-7 Until you achieve your desired results
4.  

We generally add and amend stuff to these steps to add a better clarity, quality & understanding.