Yesterday, I spent 90 minutes on the phone with a potential client discussing a lot of questions he had. He had done a considerable amount of research regarding credit report repair.

In fact, he had done so much homework I was ready to offer him a job. Here is the funny part. He knew less about credit repair then when he had started. I guess I don’t notice it as much being in the business, but there is a ton of conflicting information out there and most of it is bullshit.

The first hour of our conversation was pretty much a Q&A and this client showing me all the sites he had reviewed. Let me say this right now. Any website, book or article you read with claims of 200 point gains overnight, any book titled underground secrets revealed, or ex credit bureau employee reveals secrets is PURE CRAP.

While I’m on the subject any article you read stating credit cannot be repaired is also pure crap and that goes for the FTC’s statements as well. Now, let me elaborate on this one briefly.

While many people would love for you to believe that the only thing that can fix bad credit is time; in reality nothing could be further from the truth. The fact is, while I despise credit repair companies that rely solely generic dispute letters, they have removed tens of thousands of negative trade lines that I’m sure were accurate.

In short the FCRA states that accurate items can stay ONLY IF THEY CAN BE PROVED AS ACCURATE in 30 days. So, in theory you can fire off hundreds of letters disputing negative items and chances are several items will not be verified and as a result be removed.

With that said, they are not nearly as effective for repairing credit as people would like you to think, but they do work on occasion. (setting aside ethical and legal issues regarding knowingly disputing accurate items).

Then the other method of repairing credit (our method) is using other laws not so common among these lame articles people write. For example; did you know most states require foreign corporation filings by debt collectors and only a few have them? Yup, most collectors file in their home state only making their collection attempts illegal.

Another sure fire way to get items removed is by the illegal collection attempts. Yes, calling you 5 times a day is harassment and about the easiest way to get an item deleted. You may even get a little cash in your pocket for the violation.

Did you know calling your cell phone is a big no no? Yup, were currently in the process of looking at a class action suit against cash call for that.

In short, credit repair is a sleazy industry filled with lies and misinformation. Can somebody repair their credit? Yes we see it every single day. Is it guaranteed through some generic letter? No

Can anybody learn it overnight by reading a forum? No, there is a lot to it but it can be done, not overnight and not by some stupid template letter, but credit repair can work if done right.

If you have been taken by a credit repair company file a complaint with both the
BBB & The Attorney General