Alright, I’m throwing some truth bombs your way today. Are you ready? Let’s do it.
One of the things I often hear is that credit repair companies are a scam. Another common thing is if they’re not a scam, how do they work? How can they help me fix my credit?
What it all comes down to is this: Credit repair companies are out there to help you remove negative items from your credit report. They’re not a scam and they truly do help people.
We’ve helped thousands of people just like you fix their credit by actually looking at your report and seeing what we can dispute to make it better. How do we do it? There’s a few different tactics we use and you can check them out in this video.
I’ll keep it simple for you here though. Our whole business is based around the fact that what is on your credit report has to be 100% verifiable and accurate. If it’s not, it has to get thrown off your report. So, what we do is comb every single detail of your report to see if there is anything that can be disputed as either not accurate or not 100% verifiable.
For example, let’s say you woke up one morning with a horrible toothache. You went to the dentist and they told you that you need a root canal. You get that root canal but your dental insurance (if you have it) doesn’t pay for the entire bill. So, now you’ve got this dental bill you’re supposed to pay. Money is tight and because this was an unexpected bill that came up, you don’t have any money to pay it. So, what happens? That bill gets sent to collections. Now obviously, that’s going to be a hit to your credit report and it’s going to stay there for 7-9 years, even if you do end up making payments to the collections agency.
So let’s take that hit and look at how a credit repair company might dispute that:
- We’re going to make sure that everything is 100% accurate and verifiable. Is your name spelled correctly? Is the account number listed correct? Is the date of your service listed correctly? If any part of that bill is even just a little off, it has to come off your credit report.
- We’re going to look at the statute of limitations. This is going to vary depending on what state you’re in but the statute of limitations basically says that the furnisher of the bill only has a certain amount of time to take legal action against you to get their money.
- We’re going to see if your bill being reported to collections violates any HIPPA laws.
I go into more detail about all of this in this video but here’s the thing…Credit repair companies are on your side. They exist to help you dispute the negatives on your report and get you into a better credit position. It’s time to stop being taken advantage of by these companies who are hurting your credit.
Look, I have plenty more tips and tricks in my book 3 Paths of Lending. You can get your copy here – Drop an emoji in the comments if you already have it.
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