If you ever applied for a loan and you were turned down then you know how important a positive credit score could be. So many companies are opening there doors to offer credit repair and most of the time for outrageous fee's. Just think about it for a minute, if they had the money to pay of everything or pay on time then they would not need credit repair. I think that most companies forget that they are offering a service. You are charging your client for the due diligences that-you perform. Not just because they have some issues with there credit. Most of the information you are using they can get free by searching the Internet. Where you come in at is you have the time and patience to follow up on all unresolved issues. I'm not saying you should not be paid for your work. Yet I am saying you should not be paid for your service, I'm saying you should be paid only for results. You see in the real estate industry we as professionals are compensated for our due diligences after we have performed. We are not paid if we have a client sign a contract with us to find a home and never find them one. We are not paid if we seek funding for a property and never get an approval. So I think that your clients should be allowed the same treatment. Consumers don't be taken by these fly by night companies, seek help from a true professional or do it your self. Below I have attached several different types of letter you can use to dispute your credit. Realtors and other Mortgage professionals you can copy and paste these letters for your clients. www.RonellMortgage.com
Sample Letter 1
Your Name
123 Your Street Address
Your City, ST 01234
The Credit Bureau
Bureau Address
Anytown, State 56789
Date
Dear Credit Bureau,
This letter is a formal complaint that you are reporting inaccurate credit information.
I am very distressed that you have included the below information in my credit profile due to its damaging effects on my good credit standing. As you are no doubt aware, credit reporting laws ensure that bureaus report only accurate credit information. No doubt the inclusion of this inaccurate information is a mistake on either your or the reporting creditor's part. Because of the mistakes on my credit report, I have been wrongfully denied credit recently for a <insert credit type for which you were denied here>, which was highly embarrassing and has negatively impacted my lifestyle.
optional With the proof I'm attaching to this letter, I'm sure you'll agree it needs to be removed ASAP.
The following information therefore needs to be verified and deleted from the report as soon as possible:
CREDITOR AGENCY, acct. 123-34567-ABC
Please delete the above information as quickly as possible.
Sincerely,
your signature
Your Name
SSN# 123-45-6789
Attachment included.
Don't forget to provide proof if you have it!
Follow up letter to initial credit bureau contact.
Your Name
123 Your Street Address
Your City, ST 01234
Credit Bureau
Credit Bureau Address
Some City, Any State 56789
Date:
RE: Dispute Letter of Date you sent in first or subsequent requests
Dear Credit Bureau,
This letter is formal notice that you have failed to respond to my dispute letter of date. I sent this letter registered mail and have enclosed a copy of the return receipt which you signed on some date.
As you are well aware, federal law requires you to respond within 30 days. It has now been over that period since your receipt of my letter. As you are no doubt aware, failure to comply with federal regulations by credit reporting agencies are in serious violation of the Fair Credit Reporting Act and may be investigated by the FTC. Obviously, I am maintaining detailed records of all my correspondence with you.
I am aware that you may have misplaced my letters or have failed to respond to my letter because of an oversight due to the high volume of the requests you receive daily. If this is the case, I'm sure you'll want to handle this matter as soon as possible. For this purpose, I have included a copy of my original request, the dated receipt of your reception of the original letter and a copy of the proof verifying the incorrectness of the credit item you have mistakenly placed on my records.
The following information therefore needs to be verified and deleted from the report as soon as possible:
CREDITOR AGENCY, acct. 123-34567-ABC
Please delete this erroneous item from my credit report as soon as possible.
Sincerely,
your signature
Your Name
SSN# 123-45-6789
Don't forget to provide copies of your original letter and documentation!
Sample letter 4 - Removing inquiries
Re: Unauthorized Credit Inquiry
Dear American Express,
I recently received a copy of my Experian credit report. The credit
report showed a credit inquiry by your company that I do not recall
authorizing. I understand that you shouldn't be allowed to put an
inquiry on my file unless I have authorized it. Please have this
inquiry removed from my credit file because it is making it very
difficult for me to acquire credit.
I have sent this letter certified mail because I need your prompt
response to this issue. Please be so kind as to forward me
documentation that you have had the unauthorized inquiry removed.
If you find that I am remiss, and you did have my authorization to
inquire into my credit report, then please send me proof of this.
Thanking you in advance,
Jane Caveat-Debtor
Sample letter 6 - Reduction of Debt
AGREEMENT TO COMPROMISE DEBT
Max Creditor, referred to as CREDITOR and Jane Doe, referred to as DEBTOR, agree to compromise the indebtedness as between them. CREDITOR, hereby agrees to compromise the indebtedness due the CREDITOR on the following terms and conditions:
The CREDITOR and the DEBTOR agree that the present debt due is $1436.18 (one thousand four hundred thirty six & 18/100 dollars). The parties agree that the CREDITOR shall accept the sum of $1000.00 (one thousand & no/100 dollars) as full payment on the debt. The acceptance of the payment will serve as a complete discharge of all monies due. The payment shall be made in cash.
In addition, upon accepting of the $1000, the CREDITOR will notify all Credit Reporting Agencies that account is PAID AS AGREED, and delete any entries showing this account as ever being late.
This compromise is expressly conditioned upon the payment being received by January 15, 2000. If the DEBTOR fails to pay the compromised amount by January 15, 2000, the original amount owed by the DEBTOR will be reinstated in full, and immediately due.
This Agreement shall be binding upon and inure to the benefit of the parties, their successors and assigns.
Dated: _______________
Signature: ____________
Max Creditor
CREDITOR
Signature: ____________
Jane Doe
Debtor
Sample Letter 7 - Cease and Desist
CEASE and DESIST COLLECTION EFFORTS
Cheatem Collections
123 Fagetaboutit Ave
Chicago, IL
17 April 2000
RE: Account 5145454156
Dear Sir or Madam:
I request that you CEASE and DESIST in your efforts to collect on the above referenced account (SEE letter attached). It is my personal policy not to deal with collection agencies and I will only deal with the original creditor of this account.
You are hereby instructed to cease collection efforts immediately or face legal sanctions under applicable Federal and State law.
GIVE THIS LETTER THE IMMEDIATE ATTENTION IT DESERVES.
Cordially
Scott Free
Sample Leter 8 - Goodwill Letter
Date
Company name
Address
Re: Acct # XXXX-XXXX-XXXX-XXXX
Dear CEO name,
I am writing to you today regarding my credit card account #4236-XXXX-XXXX-XXXX which I had while I was a medical student at ------------------------------------. The purpose of my correspondence is to see if you would be willing to make a "goodwill" adjustment on the reporting of this account to the three credit agencies.
During the time period this account was established I had was very happy with the service, I was however not the ideal customer and made mistakes with my handling of the account. I should have kept better records regarding the account and I take full responsibility. I became aware of the unpaid balance when I got a copy of my credit report in June of 2006.
I know that payment was my responsibility and I am not attempting to justify this breach of my user agreement, I was however hoping you might review the circumstances under which this non-payment occurred and consider removing the negative trade line associated with this account from my three credit reports.
As soon as I became aware of the balance I contacted ----------------- and paid the balance in full. I provide this not to justify why the account was unpaid, but rather to show that the issue with ----------- is not a good indicator of my actual credit worthiness. I hope that ---------------- is willing to work with me on erasing this mark from my credit reports.
I would like to STRESS that the information currently being reported IS accurate, (I am not disputing anything with ---------------). I am simply asking -------------for a courtesy gesture of goodwill in having the credit bureaus remove this account from my report. I do recognize that this request is unique and that it may not be ------------- normal policy. Please consider that the Fair Credit Reporting Act does not demand that all accounts be reported, only that any account that is reported be reported accurately. Therefore, a company does have legal discretion and permission to remove any account it chooses from the credit report. I'm hoping that ------------- will do that in my case for this account.
Your kind consideration in this matter is greatly appreciated.
Best Regards
Name
123 Your Street Address
Your City, ST 01234
Sample letter 9 - Attempt to Validate Debt
Attempt to Validate Debt.
Under the Federal Debt Collection Practices Act, you are allowed to challenge the validity of a debt that a collection agency states you owe to them. Use this letter and the following form to make the agency verify that the debt is actually yours and owed by you. Keep a copy for your files and send the letter registered mail.
Your Name
123 Your Street Address
Your City, ST 01234
ABC Collections
123 NotOnYourLife Ave
Chicago, IL
Date:
Re: Acct # XXXX-XXXX-XXXX-XXXX
To Whom It May Concern:
This letter is being sent to you in response to a notice sent to me on September 30, 2002). Be advised that this is not a refusal to pay, but a notice sent pursuant to the Fair Debt Collection Practices Act, 15 USC 1692g Sec. 809 (b) that your claim is disputed and validation is requested.
This is NOT a request for "verification" or proof of my mailing address, but a request for VALIDATION made pursuant to the above named Title and Section. I respectfully request that your offices provide me with competent evidence that I have any legal obligation to pay you.
Please provide me with the following:
At this time I will also inform you that if your offices have reported invalidated information to any of the 3 major Credit Bureau's (Equifax, Experian or TransUnion) this action might constitute fraud under both Federal and State Laws. Due to this fact, if any negative mark is found on any of my credit reports by your company or the company that you represent I will not hesitate in bringing legal action against you for the following:
- Violation of the Fair Credit Reporting Act
- Violation of the Fair Debt Collection Practices Act
- Defamation of Character
If your offices are able to provide the proper documentation as requested in the following Declaration, I will require at least 30 days to investigate this information and during such time all collection activity must cease and desist.
Also during this validation period, if any action is taken which could be considered detrimental to any of my credit reports, I will consult with my legal counsel for suit. This includes any listing any information to a credit reporting repository that could be inaccurate or invalidated or verifying an account as accurate when in fact there is no provided proof that it is.
If your offices fail to respond to this validation request within 30 days from the date of your receipt, all references to this account must be deleted and completely removed from my credit file and a copy of such deletion request shall be sent to me immediately.
I would also like to request, in writing, that no telephone contact be made by your offices to my home or to my place of employment. If your offices attempt telephone communication with me, including but not limited to computer generated calls and calls or correspondence sent to or with any third parties, it will be considered harassment and I will have no choice but to file suit. All future communications with me MUST be done in writing and sent to the address noted in this letter by USPS.
It would be advisable that you assure that your records are in order before I am forced to take legal action. This is an attempt to correct your records, any information obtained shall be used for that purpose.
Best Regards,
Your Signature
Your Name
Sample letter 15 - The Letter to Send to the Credit Bureaus After the Collection Agency Fails to Validate Your Debt
Company
Address 1
Address 2
City, State Zip
Date
RE: Account XXXXX-XXXX-XXXXX
Dear Sir/Madam:
I am continually being called on the telephone by your firm over an alleged $9000 debt. I'm sure you are aware of the provisions in the Fair Debt Collection Practices Act (FDCPA), and I am requesting validation of this debt. I am requesting proof that I am indeed the party you are asking to pay this debt, and there is some contractual obligation which is binding on me to pay this debt. I request that you stop contacting us on the telephone and restrict your contact with us to writing, and only when you can provide adequate validation of this alleged debt. To refresh your memory on what constitutes legal validation, I am giving a list of the required documentation:
- Complete payment history, the requirement of which has been established via Spears v Brennan 745 N.E.2d 862; 2001 Ind. App. LEXIS 509 and
- Agreement that bears the signature of the alleged debtor wherein he agreed to pay the original creditor.
- Letter of sale or assignment from the original creditor to your company. (Agreement with your client that grants you the authority to collect on this alleged debt.) Coppola v. Arrow Financial Services, 302CV577, 2002 WL 32173704(D.Conn., Oct. 29, 2002) - Information relating to the purchase of a bad debt is not proprietary or burdensome. Debtor must phrase their request clearly to obtain: The source of a debt and the amount a bad debt buyer paid for plaintiff's debt, how amount sought was calculated, where in issue a list of reports to credit bureaus, and documents conferring authority on defendant to collect debt.
- Intimate knowledge of the creation of the debt by you, the collection agency.
I'm sure you know, under FDCPA Section 809 (b), you are not allowed to pursue collection activity until the debt is validated. You should be made aware that in TWYLA BOATLEY, Plaintiff, vs. DIEM CORPORATION, No. CIV 03-0762 UNITED STATES DISTRICT COURT FOR THE DISTRICT OF ARIZONA, 2004, the courts ruled that reporting a collection account indeed is considered collection activity.
While I prefer not to litigate, I will use the courts as needed to enforce my rights under the FDCPA.
I look forward to an uneventful resolution of this matter.
Sincerely,
Signature
Your Name
Your Address
City, State Zip
enclosures
Sample letter 16 - Motion to Vacate
The following is a sample motion to vacate a judgment. Before using it, make sure you read our information here.
Sample Motion to Vacate
IN THE SUPERIOR COURT OF THE STATE OF [YOUR STATE] [The Original Plaintiff] Plaintiff, MOTION AND DECLARATION TO VACATE JUDGMENT NOW COMES the Plaintiff, Pro Se and prays this Honorable Court to Deny the Defendant's Motion to Dismiss and Motion for Sanction for the following reasons: 1. Relief requested. The defendant(s) move(s) the court for an order vacating the judgment entered in this action and staying enforcement of the writ of restitution until the motion can be heard. 2. Statement of facts and issues. This motion is based on the following grounds: (Enter your reasons: you weren't properly served, the judgment was entered even though you filed the right paperwork) Dated: . ______________________________ Defendant(s) Name (Print) Address Telephone Number DECLARATION I, [my name], declare as follows: I certify under penalty of perjury under the laws of the state of YOUR STATE that the foregoing statement is true. Signed in [CITY], [STATE] on [DATE]. __________________________________ Signature Print or Type Name |
These letters are free from the web. Just an example of what you can do yourself. For those of us who don't have the time to type letters and keep up with all the paperwork seek professional HELP. I'm sure they would be glad to help you, just let them know what you now know.
I found an affordable credit restoration company on active rain, her phone number is 215-350-2483.
Ronell D. Moore
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