Friends,

We get a lot of calls from folks that have tried to repair their credit on their own. Some have had success, others have not. I don’t always know why some weren’t successful, but a good portion of folks aren’t doing it properly.

Credit Repair is not Rocket Science by any stretch of the imagination, but it does take diligence and persistence. One thing I can tell you is that the lion’s share of folks who find the process useless or ineffective are doing electronic disputes. What I mean is, they have some credit score monitoring service and there’s a button on the monitoring service that says ‘Dispute‘… and they click it.

 
… and there’s a button on the credit monitoring service that says “Dispute” and they click it….What the bureaus don’t tell you is that you are waiving some of your rights when you click that seemingly innocuous button…  
                          

What they don’t realize – and what the bureaus don’t tell you – is that you are waiving some of your rights when you click that seemingly innocuous button.

One of the more important rights you lose is your ability to request the Method of Verification (MOV). The MOV is what we use to ensure that the bureaus are, in fact, following the law and doing their jobs, as opposed to simply stating ‘verified’ (which they have been known to do).

Another very important step in the process that is omitted when you electronically dispute an item is that you receive no paper trail.  What I mean is that there’s nothing on paper that would prove that you’ve disputed anything. This is why we issue letters to the bureaus in the mail. Issuing a letter forces the bureaus to respond by mail. Those responses tell us a great deal about the account.

Credit Dr. has several clients who we have transitioned to the Consumer Financial Protection Bureau. From what we’ve been able to determine, this can be a very effective process in resolving errors that continue to show up on your credit report. However, it is very helpful in such cases to “build a body of work” – a.k.a. the “paper trail” or “evidence”. This “body of work” will be presented to either the Attorney General, the CFPB, the Consumer Watchdog Group, the FTC or what ever agency would be best suited to investigate Fair Credit Reporting violations.

I know it’s tedious, folks. To do it properly, you have to communicate with the bureaus this way. I would never encourage anyone to electronically dispute anything. We have to force the bureaus to review the validation request, we have to force them to respond in the mail, and we have to hold them accountable for their actions.

You can do it… you just have to choose to commit to it or hire someone like us to do it on your behalf.

Be well,

Credit Dr.

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