Kick-Starting Your Credit

Journey with Financial ID

The credit repair process can be tedious. It can be frustrating, disappointing,

and or anxious process – prepare for all these emotions. This kick-starter is
informational, created to provide you with a template to follow to get the best
results.

As you all know, we have seen hundreds of credit reports and credit situations.
You must immediately understand that you cannot compare your situation
to others. You cannot expect results, and you cannot expect HOW much of a
credit score increase you will see. What you can do is set a goal and discipline
yourself to stick with it.

We have developed a step-by-step process to make it a little easier for you, so

you are not overwhelmed. If you are more experienced with the process, feel
free to combine steps and move along faster.

Organization Tip:
 Get seven folders. You want to label each folder. 2 for each credit bureau
and 1 for debt verification mailings. You want to keep a copy of each letter
you send to each bureau in one of the folders, and the other is for their
responses.
 Print 3 copies of the dispute log in this informational and place it in each
folder labeled “results.” The debt verification folder is for responses from
third-party debt collectors (i.e., collection agencies) - Put these folders in
a safe place!

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Step 1:
 Gather your credit reports. You should have a report from Experian,
Equifax, and Trans Union.
 Start with your personal information. Be sure everything is reporting
accurately, and all pieces of information are current. If you have name
variations, request that these be removed.
 Make a list of derogatory items that are hindering your score from
growing.
 Make a list of positive items that are HELPING your score.
 Make a list of your student loans, their statuses, and their balances.
(If applicable).

Step 2:
 Dispute accounts that are negative with a dispute letter.
 Send debt verification letters to EVERY collection agency or third
party. (**Financial ID members will receive these during class.) Google
their addresses or retrieve their information from your credit report.
 Wait on responses.

Credit Tip: Factual disputes are major game changers when looking to
secure deletion. You can delete items based on the following:
1. Account is not mine.
2. Disputing Payment History.
3. Incorrect Balances.
4. Inaccurate Creditor.
5. Account is not verifiable.
6. Incorrect Balances.
7. Charge off date is incorrect.
8. Date of last activity is wrong.
9. Incorrect Account Status.

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Step 3:
Your requests have been fulfilled. You now have responses from the credit
bureaus that have explained whether the accounts you have challenged have
been verified or deleted. Your next options vary:

 If the account was verified, you can request the method of verification
from the credit bureaus and await their responses.

Credit Tip: If you are looking to secure deletions, you can

always challenge a different aspect of the account again. We have
personally seen where we have waited a month in disputing and
disputed again – voila! The account was deleted.

 You can choose to settle your balance with the creditor and the status
updated.
 You can do nothing and allow the account to fall off under the statute of
limitations (if you choose this method, understand that adverse action
could follow later EX: Charge offs can turn into judgments)
 If the account is indeed inaccurate and the credit bureaus fail to
investigate properly, you can file a complaint with the Federal Trade
Commission.

Credit Tip: The letters do not have to be fancy. State your request
clearly and the outcome you are anticipating. Send all letters
certified mail and place your postal receipts in your folders. Notate
in your log when you have mailed your letter and the date, they
received it.

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 Taking charge of your finances

Taking charge of your credit report arms you with the information you need
to always be in control when necessary. This information also puts you in a
position to help others by passing on the knowledge. Below is a sample
dispute letter. Let us get started breaking generational curses. See you on the
other side.

Your Full Name (Make sure it matches the name on your credit report):

Addres:

City, State Zip:

SSN: 000-00-0000 | DOB: 7/1/1960

June 1, 2013

Experian

P.O. Box 2002

Allen, TX 75013

This letter is to inform you that I recently received a copy of my credit report
that your company publishes and after reviewing it I found several items on
the report that are inaccurate. The accounts in question are listed below.

Please send me copies of the documents that you have in your files as of this
date that you used to verify the accuracy of the accounts listed below.

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Under the Fair Credit Reporting Act, 15 U.S.C. § 1681g I have the right to
demand that you disclose to me all the documents that you have recorded
and retained in your file at the time of this request concerning the accounts
that you are reporting in my credit report.

Please do not respond to my request by saying that these accounts have been
verified. Send me copies of the documents that you have in your files that
were used to verify them.

If you do not have any documentation in your files to verify the accuracy of
these disputed accounts, then please delete them immediately as required
under Section 611(a)(5)(A)(i).

By publishing these inaccurate and unverified items on my credit report and

distributing them to 3rd parties you are damaging my reputation and credit
worthiness.

Under the FCRA 15 U.S.C. § 1681i, all unverified accounts must be promptly
deleted. Therefore, if you are unable to provide me with a copy of the verifiable
proof that you have on file for each of the accounts listed below within 30 days
of receipt of this letter then you must remove these accounts from my credit
report.

Please provide me with a copy of an updated and corrected credit report

showing these items removed.

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 I demand the following accounts be properly
verified or removed immediately.

Name of Account: Account Number: Provide Physical Proof of Verification:

1. Chase Bank #533376304023 … Unverified Account

(Hand Write this information with blue ink pen)

Make sure that you do not have more than 22 accounts listed

NOTE: Please also remove all non-account holding inquiries over 30 days old.

Thank You,

Sign your name here

(Your Name Here)

Attached: Copy of my Social Security Card & Driver’s License is attached

Sent: USPS Certified Mail

(Here are the addresses for the additional bureaus. Equifax P.O. Box 740256
Atlanta, GA 30374, Trans Union P.O. Box 2000 Chester, PA 19022)

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 Mr. Banks – CEO @MindofBanks and Mrs. Banks – CFO @wifemommyceo

We always recommend that if you choose to endure this journey on your own,
speak with a certified credit consultant to get a different perspective of your
credit situation. You can still complete the heavy-duty tasks that comes with
this process, but now you have a professional structure. That alone is a bonus!

For copies of our dispute, debt verification, or method of verification letters:

Join our Legacy Builder Club.

Follow US on Instagram! @MyFinancialID

Join US on Facebook! Financial ID Legacy

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 Tracking Disputes

The following worksheet will assist you in tracking your disputes. Just
complete out a separate row for each account that you are disputing and
document progress:

Account/Disputed with Date sent Response Notes

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 Dispute Log

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 BONUS PAGE

Backdoor links to Equifax and Experian. These links are for alias removals only.
This method is not meant to dispute derogatory accounts. You have 8 minutes
to remove your old employers, phone numbers, previous addresses, and name
variations. If you cannot get it all, get what you can and submit the electronic
dispute. Use the manual letters in the Facebook group and send it certified
mail.

TRADELINES
If you do not have any revolving credit on your credit report of low lines of
credit add this $5000 jewelry club line of credit to your credit profile.

If you need installment accounts check out Rent Reporters.

Other Resources/Business Tools:

Automate your email marketing

Government Contracts

Bookkeeping

SuperPhone

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