I have clients who come to me and ask me “What can I do to get these collections off my credit report; they are all paid why are they there still?”  This is a question that I love to hear!  Collection agencies only care about one thing, money – and how they can get it out of your pocket and into theirs.

The Collection 2-Step – there are so many different methods to remove inaccurate information.  You need to find a method that offers a high success rate.  The method that we use is a multi step process with a 90% success rate.

Here is the process that we use.

#1 – Personalize our “Debt Validation” #1 or #2 letter and address it to the collection agency.  Taking careful consideration to ensure that you establish enough personal identity validation that the collection agency will respond to you directly in writing.

#2 – using a #10 security envelope send the letter certified to the collection agency (making sure to mail the letter from a post office or a blue USPS mail drop to help avoid identity theft) and also making sure to keep the green stub from the certified letter.  This starts the 30 day clock when the collection agency receives your letter

TIP:  Make sure to write “payment” in the top left hand corner under your return address.  Collection agencies will accept the letter almost 99% of the time.

#3 – Personalize our “Credit Bureau” #2 or #3 letter in preparation of the collection agencies reply (or lack there of).  Make sure to include a copy of the signature information returned from the USPS on the green signature card in the contents of the letter to the reporting agency (TU, EQ, XP).

#4 – using a #10 security envelope send the letter certified to the credit bureau’s that are reporting the collection (making sure to mail the letter from a post office or a blue USPS mail drop to help avoid identity theft) and also making sure to keep the green stub from the certified letter.  This starts the 30 day clock when the credit bureau receives your letter.

In your letter you included the following:

Proof of Identity (copy of driver’s license)
Copy of a Bank statement or canceled check to support residence address on driver’s license.
Copy of Soc Card
Formal request to delete collection along with the reason outlined in the FDCPA.
Copy of the green return service card (establishing the 30 days has gone by)

#5 – Review the results as they come back – since you already know whether or not the collection agency violated the law you know what to expect.  The sad reality is that you are relying on a human to interoperate the letters accurately and code them accordingly for the investigator.  That is the unknown variable.

You might have to attempt this process more than once if the account comes back “verified”.  (at that point we have another letter we use to find out how they verified your account)

It is very important that you use specific verbiage in the letters to support your formal request and to show that you understand your legal rights.  If the collection agency did not respond to you within 30 days that is a freebie for you and you need to capitalize on that!

If you need examples of the letters our clients are using to successfully challenge and remove their collection accounts please contact me directly.  We are happy to help.

Shaun Gober
http://mycfcr.com
sgober@mycfcr.com

View This Poll
The time is now! Wouldn’t you love to know how you can legally and ethically address all your negative reporting items, build positive credit and not spend thousands of dollars to do so?

There is no reason you cannot do this yourself. You just need motivation and proper education.

We can help. Since we are retired Financial Professionals who specialized in lending, we know what needs to be done. We have a current list of clients that are on the path of wellness, and I am proud to say that we have a 100% success rate with those who stay committed.

Now you have more of a reason to begin – Here is an online offer for 25% off any product or service you choose.

Posted using ShareThis

READ MORE

The Center for Credit Rehabilitation

In today’s economy you just cant afford to have bad credit, so what do you do?

The answer: You need to take the first step towards credit wellness; you need a real credit education taught by true professionals.

CreditRehab & Credit Wellness The journey towards credit wellness has its ups and downs like any other, what is important is to establish a goal or dream and never lose sight of your goal or dream along the way. To some its home ownership to others it is financial freedom. What ever your dream or what ever your goal remember this, each day you invest in yourself and your credit is one more day closer to achieving those dreams or goals. With our Do It Yourself CreditRehab guide and your dedication you will achieve your dreams faster than you would without. The Center for Credit Rehabilitation is committed to providing you with the best information and support in your quest for credit education and rehabilitation.