4 Stages of Credit Repair
What Does It Take To Fix Bad Credit? (The Overview)
There are 4 critical stages of credit repair. If one is attempting to repair their credit and increase their credit scores, they must address all 4 of these critical areas. Not completing all 4 of these stages can be frustrating and even dangerous to one’s credit… Click HERE to watch the Video and Read More
Stage 1 of the Credit Repair Process (Validation)
Stage #1 of the credit restoration process, leverages a law known as the Fair Debt Collections Practices Act in conjunction with the Fair Credit Reporting Act. This stage involves sending letters directly to the creditors asking them to validate the debt.
Stage #1 is called Validation –
The primary law that you are leveraging in this step is the Fair Debt Collections Practices Act which came about in 1978.
Validation focuses on any outstanding debts you have on your credit report from Debt Buyers or… Click HERE to watch the Video and Read More
Stage 2 of the Credit Repair Process (Investigation)
The Primary Law you are leveraging in this step is the Fair Credit Reporting Act of 1970 and the updated Fair & Accurate Credit Transactions Act of 2003.
This step goes right to the 3 Consumer Reporting Agencies: Experian, Equifax & TransUnion. I will refer to these agencies as the CRA’s going forward.
The FCRA requires the CRA’s to investigate any items that…. Click HERE to watch the Video and Read More
Stage 3 of the Credit Repair Process (Negotiation)
Now some people think that you can negotiate or even speak directly with the 3 CRA’s Equifax, Experian or TransUnion but they are virtually untouchable to consumers but keep in mind that they only report the data that is sent to them.
Negotiation must be done directly with creditors and collection agents which can definitely be an interesting experience if you don’t know what to expect. You will specifically negotiate with creditors who have passed the validation test in Stage 1 of the credit restoration process and the investigation test in Stage 2… Click HERE to watch the Video and Read More
Stage 4 of the Credit Repair Process (Construction)
When working to increase credit scores you cannot simply focus on removing the bad items from your report. Good credit scores require good credit history so if you don’t have any good credit history you need to start building that history. The biggest mistake in this stage is to jump too quickly into starting new credit…
The final stage of the restoration process is called Construction. We call it construction because this is where you start building back your credit… Click HERE to watch the Video and Read More