Start your 2017 New Year Fresh, With a New Outlook on Life with Fresh Start Credit Repair
Fresh Start Credit Repair (FSCR) has unincorporated been in business for many years. During the many years of mortgage lending in the mid-2000’s, FSCR provided many benefits for a successful piece of a mortgage program to work; credit restoration. Prior to the mortgage crisis/housing bubble in 2007, FSCR was generating more letters each month to succumb to the highest standards of obtaining a home loan with a minimal credit score of 620. There were several events that triggered FSCR into action.
Starting fresh with Fresh Start Credit Repair is one of many solutions to getting someone’s credit and life on back on track (for those who are in a position that has less than sub-par credit ratings). FSCR would like to think that we are the only company that has the capabilities of assisting someone fix their credit. During the educational learning curve that FSCR endured, the company enacted and became licensed in 2016.
Talking about your personal credit and history is a controversial topic, so let’s get down to the nuts and bolts. It can be difficult to filter through all the available information and determine where to begin with a new client. While each client is different and our approach to each will vary, the basic process outlined here will give you a general framework for moving forward. Here are the basic steps to repairing credit for clients:
Step 1: Acquire and analyze the client’s credit reports.
What FSCR will do is get a copy of the client’s credit report from each credit bureau. Once you FSCR attains copies of each, dissect them to find inaccuracies, redundancies, or unverifiable information that can be disputed. Sit down with the client to determine a course of action. FSCS ensures to educate the client on what they can expect and what we will need from them (i.e. updating you on responses from bureaus in a timely manner).
Step 2: Draft dispute letters.
Creating dispute letters. FSCR ensures to list each item that we are disputing and the reason(s) why. We include all supporting documentation (payment receipts, etc.) and copies of the client’s identification documents. Don’t procrastinate or wait to receive all credit reports. Remember to duplicate all correspondence for the client’s file. This will be essential if a lawsuit becomes necessary.
Step 3: Send and track dispute letters.
FSCR sends the letters as soon as possible. FSCR highly recommends sending them via certified mail with return receipt so you know exactly when the bureau receives your dispute. The Fair Credit Reporting Act (FCRA) gives the bureau 30 days to investigate a claim. Set a reminder on your calendar so you know when to follow up with the client to see if he/she has received a response – so FSCR can act on it ASAP.
Step 4: Collect responses from clients.
The credit bureau will respond to our clients directly via mail. The response will indicate either that the dispute was confirmed and modified/removed from the credit report or that the item was confirmed 54 and will remain. Since we are using credit repair cloud software, FSCR will have the client scan and upload the response: this is typically the most effective way to collect responses. If the client does not use the software or have internet capabilities, FSCR can ask clients to mail the credit report copies, or scan and email/fax them to FSCR.
Step 5: Follow up. Be persistent!
If the bureau has not removed the item from your client’s credit report, FSCR sends a follow-up letters reiterating the dispute and the reasoning behind it. FSCR may have to dispute the same item several times. Remember to reword the letter so that the bureau’s computer systems don’t reject it as “frivolous”. FSCR checks items that were removed off the action plan you made in Step 1. This will show clients that FSCR’s interventions are worthwhile.
Many people ask, “How does the credit bureaus calculate credit scores if there are so many different lines of credit variations?” Credit scores are reported based on the following approximate formula:
• 35% payment history
• 30% amounts owed
• 15% length of credit history
• 10% inquiries/recent credit decisions
• 10% types of credit used
While these percentages listed above is a theory, no one will truly understand how the exact calculation are formatted to get the actual score, but is referenced in the formulated guideline as discussed.
Starting fresh with Fresh Start Credit Repair (FSCR), many other questions surface as to whether credit repair is even legal. Yes, credit repair is legal and it works because of the law. The law is the Fair Credit Reporting Act, which was set up by the FTC (Federal Trade Commission Act).
to protect consumers. The FCRA (Fair Credit Reporting Act) gives you the right to dispute any item on a credit 286 report. If that item cannot be verified it must be removed. That is the foundation of all credit repair. The FCRA’s summary is listed below:
A Summary of Your Rights Under the Fair Credit Reporting Act
The federal Fair Credit Reporting Act (FCRA) promotes the accuracy, fairness, and privacy of information in the files of consumer reporting agencies. There are many types of consumer reporting agencies, including credit bureaus and specialty agencies (such as agencies that sell information about check writing histories, medical records, and rental history records). You can view a detailed summary of your major rights under the FCRA (Fair Credit Reporting Act).
For more information, including information about additional rights, go to www.ftc.gov/credit or write to: Consumer Response Center, Room 130-A, Federal Trade Commission, 600 Pennsylvania Ave. N.W., Washington, D.C. 20580.
So, know you know quite a bit about credit repair, give Fresh Start Credit Repair a call at (855)635-3365 or simply visitwww.startyourcreditfresh.com.
FSCR’s legal staff can assist you with a FREE Consultation at NO COST to you! Yes, you heard that right. While most attorney’s charge an astronomical retainer fee, FSCR does NOT. In fact, the fees at not even a tenth of what an attorney charges. Additionally, an attorney drives a hard core hourly fee. FSCR again, DOES NOT! We charge only by the monthly services that FSCR conducts. Lastly, we cater to Active Military, Veterans, and Police Services. So, “Let’s Make Your Credit Again” and start fresh with Fresh Start Credit Repair.
Fresh Start Credit Repair
P.O. Box 107 Descanso, CA 91916
Phone Number: (855) 635-3365