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Frequently Asked Questions to help You To better Understand the Credit Restoration & Rebuilding Process
- How do you restore bad credit?
We offer one-on-one confidential consulting allowing you to indicate to us which items you wish to dispute, and exactly your rights by law to get the best possible outcome. Once we receive your credit reports, and we perform a free consultation to go over exactly what we need to correct or delete, we will process your case and send the required dispute documents to all three credit bureaus Experian, Trans Union and Equifax. These documents are designed to communicate your dispute in such a way that the credit bureaus will accept the dispute and conduct a proper investigation.
While this may sound easy, any person who has attempted to dispute their own credit will tell you otherwise. According to federal law, the credit bureaus can ignore your dispute under a variety of conditions. In our experience, a large part of dispute documents sent directly from consumers are rejected under one pretext or another.
At the conclusion of the credit bureau’s investigation, a new updated copy of the credit report is sent to your home along with any deletions or improvements. You then copy and send us the new credit report so we can process your exact results because it is hard for consumers to understand what these credit reports say. If there are any remaining negative inaccurate or unverifiable items that needs addressed, then we will repeat the dispute cycle at timed intervals.
Under federal law, the Fair Credit Reporting Act, a disputed credit listing must be accurate and verifiable for it to remain on the credit report. If the credit listing is only somewhat inaccurate, the credit bureau may simply change the item to reflect the accurate status. Very often, though, disputed credit items cannot be verified: the creditor either no longer possesses the information or does not wish to go to the trouble of verifying it. Also, the reinvestigation must be completed within 30 days or the listing must be removed. For these reasons, properly disputed credit listings are removed with remarkable frequency. Each time an investigation is commenced, the odds of receiving a particular deletion increases.
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- How do you do this legally?
Although the credit bureaus would like to have you think otherwise, there is absolutely nothing illegal about disputing items on your credit report. In fact, it is your explicit consumer right by law to do so (see the Fair Credit Reporting Act specifically section 609 and 611). Credit report repair is as legal as pleading “not guilty” in a court of law. It is up to the three credit bureaus and/or the creditors to legally prove otherwise.
- How long does it take?
It is illegal for any credit repair company to promise a particular result within a certain time frame. Though we can give you an idea as to how we have performed in the past. If credit reports are received promptly, many clients see exhilarating progress within the first 30 days but overall best results may take longer.
Statistically, participating clients have received, on average, 10.77 deletions by the end of the 1st dispute, 15.15 deletions by the 2nd dispute, and 25.8 deletions by the end of third dispute. A deletion is a credit item that has permanently disappeared from the credit report of the client. We tabulated these statistics from clients who had sent copies of all three credit reports. Though we realize that these average results are exciting, we must warn you not to interpret past performance as a guarantee or promise that we will achieve precisely the same results for you as we have other clients in the past. Your results may be better or worse.
The progress of your case will depend on your participation (sending in credit reports on a timely basis,) the nature of your case, and the level of credit bureau cooperation
- What if deleted items reappear?
On occasion, a negative listing that was recently deleted may reappear. Usually these accounts were not the same ones that were deleted before, but will be a new collection account that a new collection agency took over to collect on. Let’s say we deleted a negative inaccurate/unverifiable account from Sears. If you don’t resolve this debt (using different payment options that we go over with you) then Sears will eventually hire a collection agency or attorney to collect on the unpaid debt. Then this new collection agency called ABC Collection Agency sends you a collection letter but you either trash it, or don’t respond to their 30 day validation notice to “validate the alleged debt”, then ABC Collection Agency has the legal right to put a new negative listing called a ‘collection account’ on your credit reports. (See FDCPA section 809) So you see how important it is to be educated in how to handle unpaid debts so you don’t have any new negative accounts from appearing on your credit reports! In most cases, it is fairly rare for normal listings to come back on once they’ve been deleted. If an item is re-reported, it is a simple matter to challenge the listing again at a future time to press for permanent deletion.
- Do I need to pay my bills?
If there are delinquent accounts appearing on your credit reports that have not been paid off, the actual debt behind the listing remains the same even if we delete the account from your credit report. You still owe the same money that you owed in the first place. If you don’t pay the debt, the creditor or collection agency could always re-report the item. So removing the listing without addressing the debt is only a temporary solution. We address any unpaid debts and will tell you all 9 of your debt options, and sadly are the only company in the U.S. that will do this. You wonder why the other companies don’t tell you or do they even know the answer?!
- Does paying my old bills/old debt restore my credit?
You would think that would be true. But, again, the credit reporting system just doesn’t work that way.
When you pay an old debt, the negative credit listing doesn’t disappear. In fact, it re-ages and the seven year clock begins again with that payment you so thoughtfully made. And, the most ironic thing is that a paid, current negative listing (ie: Collection account) is not any better than an unpaid negative listing (ie: Paid Collection account). That’s not always true, but in most cases, you won’t get much further by paying the old debt and if the debt is past the state Statute of Limitations. This means you no longer can be legally sued for the unpaid debt.
- Do I need to see my credit reports first?
Yes! First you can obtain your credit reports online at: www.CreditCheckTotal.com or www.PrivacyGuard.com for $1. Make sure to cancel their membership service within the 7-14 day time frame to prevent further charges. Please forward your credit reports to us via email or fax so that we can give you a FREE Credit Report Analysis to see which items need to be corrected or deleted. We will even go further than other companies by pointing out other very important information to help prevent you from being sued or let you know if you may be a victim of Identity Theft. We are a highly trained and experienced team of consultants who do more than just credit repair! Our job is to protect your consumer rights, improve your credit, raise your credit scores and help get you out of debt!
We will give you a plan of action based on laws and facts to get the best possible results within 30+ days.
One amazing thing about bad credit is that almost any small amount of bad credit will trigger universal credit denial. A little bad credit isn’t much better than a ton. So, if you believe that there might only be a couple of negative listings on your credit report, it still makes sense to retain us for the time it takes to remove them.
- Do you guarantee your service?
It is illegal for the credit industry to estimate what the particular outcome of your case. Just like in a court of law, an attorney could never guarantee a client that the judge or jury would find in their favor. We can guarantee however, that your credit reports and scores will improve over time based on our experience, education and assistance.
- Can I restore my own credit?
Given some experience and study, you could do some of what our staff does. It is much like your right as a citizen to represent yourself in court.
Most people choose to allow an attorney to represent them because the attorney understands the legal system better. But, should you wish, you could represent yourself.
Another factor to consider is the amount of time and follow-up required to coordinate disputes with all three credit reporting agencies.
Simple Solutions Credit Consulting, Inc. has systematized the disputation of credit through a trained staff and a custom designed software package.
With that said, we encourage consumers to dispute their own credit if they have the time, patience and knowledge to do so.
- How do I get updates on casework?
The credit bureaus will mail you your updated credit reports. Make sure that you forward all correspondence from the credit bureaus to us so we can proceed with your case. We will always keep you informed of the process and the results or you can always log into our credit software system that we sent you a user name and password to.
Additionally, you are always welcome to call or email your credit consultant and request an update of the progress of your case.