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LEARN HOW TO START, RUN, OR GROW YOUR CREDIT REPAIR BUSINESS

Credit Repair Hack To Cleaning Up Personal Information

By: Daniel Rosen September 07, 2021

Most credit repair companies overlook this powerful tactic, but removing incorrect personal information on your credit report will get you better results on ALL of your other credit disputes. Plus, it’s simple to do.

The reality is, nearly 8 out of 10 consumers have errors on their credit reports. That's a huge number.  With the US population being 332 million people, that means there are 262 million people with errors on their reports. That’s a lot of potential clients!

 


Why is this important?  

Your credit report has information about you, your finances and your bill-paying history, so you have to make sure it’s accurate. Otherwise, you may not be able to buy your dream car, dream house, or even rent an apartment. Take a moment to clean up all the errors on credit reports. It can strengthen your clients’ approval odds and uncover some surprising ways to save money and raise their credit scores, getting that car, home, and apartment within reach.

The good news is, according to the FTC, 4 out of every 5 consumers who filed disputes achieved a change to their credit reports.

Better yet, keep on trying to ensure you always get your desired result. This stuff works when you never give up!

The first section of the report is where all of your personal information is listed, and so often, that’s where the first errors are. 

The important thing to remember is, the very first thing you want to do is remove ALL incorrect, outdated, or conflicting personal information from your clients’ credit reports. 

So how does this affect you and your clients?

Well, when lenders check your credit report to review an application for financial products, like credit cards and loans, and even apartments – 

If there is any inaccurate information on your credit report, this can jeopardize your approval rate and affect the terms you receive, including interest rates. 

What should you be watching out for?

Some common examples of personal information errors are: 

Wrong or misspelled name, aliases, incorrect or old phone numbers, and misspelled or outdated addresses.

You may be wondering, where do all these personal information errors come from?

Sometimes, it can be a sign of identity theft, but more often, here's how they get there:

When you sit down at a bank, or a dealership or a credit union, or department store, Best Buy, and you’re applying for credit…  the loan officer or even a salesperson types in your personal information into the application—and then that information is placed directly onto your credit report. 

That’s right, that’s where those weird mistakes come from. Your name, address, social, date of birth, and employment information gets added to your report exactly how they typed it. This means that if the person typing it in spelled your name wrong, or puts in the wrong date of birth, or your street or anything else—whatever they typed, and however they typed it—that becomes part of your permanent credit file. 

Why can those errors cause you to be denied the next time you apply for credit?

If the information you give them doesn’t match what’s on file, it’s a red flag. 

Think about it from the lender’s perspective. If you were lending money to strangers and the information they provided does not match their credit report, you might think the applicant was purposely trying to deceive you. 

Not only can it stop your clients from getting approved for credit, but there's a possibility that it can cost them a job they are applying for. Employers are pulling credit reports more and more these days. Some of them do it for security clearance and others do it just to fully vet their new hires. If the personal information doesn't match their employment application, some employers may choose a different candidate without the red flags. 

In addition to making sure all of the personal information is correct, there is another reason to remove everything except for exact and current information. 

Why? Negative accounts are tied to specific pieces of personal information. For example, your client may have a collection account tied to a misspelled name. Or, your client may have an old address or alias tied to the charge-off you want to get rid of. This means that by removing everything except ONE name, ONE current address, ONE correct date of birth, and one accurate social, and also just the current and up to date employer—that can help you to get faster results and more deletions for your clients. 

So as a credit hero, the very first thing you want to do is remove ALL incorrect, outdated, or conflicting personal information from your clients' credit reports. 

So what are the exact steps to fixing personal information errors?

That’s very easy. 

  1. You want to use your Credit Repair Cloud account to send your Round 1 letter. 

In Credit Repair Cloud, once you’ve imported the report, take a look at all the data from the report. All you have to do is click on any incorrect personal information and it will create a dispute around that item. The software handles the heavy lifting, you just tell them what to lift. Then you just click add all those items into your round 1 letter.  It makes it so easy and fast, so if you don’t already have an account, you can get a free 30-day trial at creditrepaircloud.com and see for yourself how easy it is to start this for yourself and for your clients.

  1. Extra pro tip: in that Round 1 letter, you can add these 3 magic sentences: 

“This is my current address XXXXX, and all of the other addresses you list on my report are wrong. Please remove ALL addresses except for XXXX. I have attached my ID with my correct address, and I request that you please delete any address that does not match this.”

  1. Then, send your Round 1 letter off with your photo ID and proof of address… and then once you send off your dispute letters, you wait. Then, just sight tight.  You want to give them enough time and not be impatient.  
  2. Once the credit bureaus receive your letter, they have 30 days to respond. 

If the credit bureau agrees to remove the information, then you’ve achieved your goal! 

But sometimes, the credit bureau might deny your dispute. If that happens, they must send you a notice within five days of the decision. 

And if you get a no, don’t worry!!  Keep disputing it. Remember, the FTC says 4 of 5 times you request a change, it's granted. That means you may have to try 4 or 5 times.

The key is pressure and persistence. 

At that point, if the credit bureau still fails to remove it, you also have one more big trick up your sleeve! If you think the credit bureau didn’t take reasonable action to resolve your dispute, you can also file a complaint with the FTC or the CFPB. And that will often get the action you want. 

That’s all there is to it!!

The bottom line is, if you find an error on your credit report, make sure you dispute it as quickly as possible. Small errors may not seem like a big deal, but they are. 

Once you start using this strategy, you’ll be amazed by how your success rate at deletions increases! 

And now, you have another cool credit repair hack to take advantage of, and that means you’re one big step closer to starting or growing your own credit repair business. 

This is a huge confidence booster!

So, if you want to get certified in disputing and launch your very own credit repair business in just a couple weeks, I invite you to join our Credit Hero Challenge!

It’s an amazing program that has helped tons of Credit Heroes get their first clients, get certified in disputing, and gain confidence in knowing they are launching their credit repair business on a solid foundation that allows them to grow and scale FAST! 

We’re starting again soon, so SIGN UP NOW at creditherochallenge.com!

Be sure to subscribe on your favorite platform below!

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Topics: Podcast

Transcript

Daniel Rosen 00:00

 

OK, today I'm going to talk about something that most credit repair companies completely overlook - removing incorrect personal information. It's something that's very easy to do. And it's so powerful, but it's one of the most overlooked strategies that you can use to get better results on all of your other disputes. So today, I'm going to show you this skill that as a Credit Hero, you really need. I'm going to show you how to clean up personal information. 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.

 

OK, before I dive in, if you are new to this podcast, be sure to click to subscribe and turn on notifications so you don't miss a thing. And this is new. And it's really, really cool. I started sharing this, because I want you to remember that you are not alone. So, in every episode, I'm going to be spotlighting one of our new Credit Heroes inside our Credit Repair Cloud Facebook community so that you can see firsthand what real everyday people are doing as they start to launch and grow their credit repair business. So today's spotlight is on Jonathan Greenfield. Jonathan just took the Credit Hero Challenge. He joined our community in February, and he already has 50 active clients. And he did all this as a side hustle, which is really, really incredible. And I can't wait to see what happens when Jonathan quit his nine to five, so he can focus on his business 100% of the time. How awesome is that? And if you'd like me to hold you by the hand, as you launch your very own profitable credit repair business, visit CreditHeroChallenge.com.

OK, let's get into this. Did you know that nearly eight out of 10 consumers have errors on their credit reports? It's true. That's a huge number, right? The US population is 332 million people. So that means there are 262 million potential clients just walking around with errors on their credit reports. That is a whole lot of people. So why is this important? Because your credit report has information about you, your finances, and your bill paying history. So you've got to make sure it's accurate. So taking a moment to clean up all the errors on credit reports can strengthen your clients approval odds and raise their credit scores. Now the good news is that according to the FTC, four out of every five consumers who filed disputes achieved a change to their credit reports. So that tells you that credit repair works.

Now the first section of the report is where it lists all of your personal information. And very often, that is where the first errors are. So how does this affect you and your clients? Well, when lenders check your credit report to review an application for financial products, like credit cards, or loans, and even apartments, if there is any inaccurate information on your credit report, this can jeopardize your approval rate. And it can also affect the terms that you receive, including your interest rates. So as a Credit Hero, the very first thing that you want to do is remove all incorrect, outdated or conflicting personal information from your clients credit reports. You want to do that first, OK?

It sounds very simple, but it's actually one of the most overlooked strategies that you can use to get better results on your other disputes. So what should you be watching out for? Well, some common examples of personal information errors are misspelled names, alias is incorrect or old phone numbers and misspelled or outdated addresses. But, you may be wondering, where do all these personal information errors - where do they come from? While sometimes it can be a sign of identity theft, but more often, here's how they get there. When you sit down at a bank, or a dealership or a credit union, or a department store or Best Buy, and you're applying for credit, the loan officer or the salesperson type your personal information into the application. And then that application is placed directly into your credit report. That's right. That's where that weird stuff comes from your name, your address, your social date of birth and employment information, it gets added to your report exactly the way they typed it. So this means that if the person typing, if they misspelled your name wrong, or or put in the wrong date of birth, or your wrong street, or anything else, whatever they typed, and however they typed it, that becomes part of your permanent credit file. And do you know why these errors could cause you to be denied the next time you apply for credit? That's because if the information that you give them, if it doesn't match what's on file, it's a red flag. Think about it from the lenders perspective. If you were lending money to strangers, and if the information they provided doesn't match their credit report, you might think that applicant was purposely trying to deceive you.

Not only can it stop your clients from getting approved for a credit, but there's also possibility that it could cost them the job that they are applying for. See, employers are pulling credit reports more and more these days. And some of them do it for security clearance, and others do it to just fully vet their new hires. But if the personal information, if it doesn't match their employment application, some employers, they may just choose a different candidate that doesn't have red flags.

And in addition to making sure all the personal information is correct, there's another reason to remove everything except the exact and current information. And the reason for that is that negative accounts are tied to specific pieces of personal information. For example, your client may have a collection account that's tied to a misspelled name, or your client may have an old address or an alias that's tied to the charge off that you want to get rid of. This means that by removing everything except for one name, one current address, one correct date of birth, and one accurate social, and also just the one current and up to date employer that can help you to get faster results and more deletions for your clients. So as a Credit Hero, the very first thing that you want to do is to remove all incorrect, outdated or conflicting personal information from your clients credit reports.

So what are the exact steps to fixing personal information errors? Well, it's very easy, you want to use your Credit Repair Cloud account to send the basic Round 1 Letter in Credit Repair Cloud. Once you have imported the clients report, and you're looking at all the data from the report, all you have to do is click on any incorrect personal information, and it will automatically create a dispute around that item. And then you just click to add all those disputes into your round one letter. It makes it so easy and so fast. So if you don't already have an account, you can get a free 30 day trial at CreditRepairCloud.com.

Now here's an extra pro tip. In that round one letter, you can add these three magic sentences. This is my current address. All of the other addresses that you list on my report are wrong. Please remove all addresses except for this address. I have attached my ID with by correct address. So please delete any addresses that do not match this one. And then you send your round one letter, you send it off with your photo ID and your proof of address. And then once you send off your dispute letters, your weight and you want to give them enough time. Now once the credit bureaus, once they receive your letter, they have 30 days to respond. Now if the credit bureau agrees to remove the information, then that's awesome. But if the credit bureau denies your decision They must send you a notice within five days of that decision. And if you get a no, don't worry, just keep disputing it. The key to all of this is pressure and persistence. And if they still fail to remove it, you also have one more big trick up your sleeve. If you think the credit bureau didn't take reasonable action to resolve your dispute, you can also file a complaint with the FTC or the CFPB. And that will often get you the action that you want.

Pretty simple, right? The bottom line is, if you find an error on your credit report, make sure that you dispute it as quickly as possible. Small errors may not seem like a big deal, but they are. Start using this strategy, and you are going to be amazed at how your success rate at getting deletions increases. So now you have another cool credit repair hack up your sleeve. And that means that you are one step closer to starting or growing your very own credit repair business.

And if you haven't already, now is the time to take the next step by getting into our Credit Hero challenge. It's a live experience that has helped tons of Credit Heroes to get their first clients to get certified in disputing and to gain confidence as they launched 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 in just a couple of days. So, you want to join before the doors close, or you're going to have a long wait until the next one. So, sign up right now at CreditHeroChallenge.com. And if you're finding value in the things that I'm sharing on this podcast, be sure to click to subscribe. And leave me your questions and comments below because I love to go back, and I read each and every one of them. I'll answer your questions, and I love to see what everyone is talking about. And if you're feeling extra kind, give me a review, give me a thumbs up, tell all your friends because this is a new podcast. And these things really helped me, and I will see you in the next episode. And until then, be a 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 is starting in just a few days. So go get started right now at CreditHeroChallenge.com.




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