How To Do Credit Repair
- Richard Bogolub
- Feb 6, 2022
- 4 min read
Updated: Feb 14, 2022
Do you or someone you know need to repair their credit? Are you being hindered by not being able to get low interest loans or low interest rates on credit products? Are you concerned that potential employers will not want to hire you because of a poor credit score?
Well be of good cheer! Victory Asset Recovery, LLC is doing an article on this very subject!
The first thing you want to do is collect your credit reports from each of the three big credit bureaus. These credit bureaus are Equifax, Experian, and TransUnion. You can do this at annualcreditreport.com. You can order them for free via the internet and take screenshots with the Chrome Go Full Page add on. I prefer calling and ordering the credit reports via phone for free at (877) 322-8228. This way the credit bureaus mail you your credit reports.
Now that you have your credit reports you want to go ahead and make sure that you only have one name, one address, and one phone number on your credit reports. This way the credit bureaus will have a harder time correlating your adverse credit history/ accounts with you. For example, if your name is "Timothy Michael Smith" you should get rid of names on your credit reports such as "Tim Michael Smith" or "Timothy M Smith." This can be done by sending letters via USPS certified mail to TransUnion, Equifax, and Experian. In the letters you state what is your address, phone number, and name and to please remove all other names, addresses, and phone numbers because you are afraid that you might be susceptible to identity theft. With these letters you should attach proof you are who you say you are. I would recommend attaching an image of your social security card and your driver's license to prove that you are who you say you are.
After enough time has gone by from when you sent in your letters demanding that names, addresses, and numbers be deleted from your credit reports and you got the requested deletions you need to stop making hard inquiries and stop applying for new credit products. Now it is time to go ahead and put a security freeze on Lexis Nexis, CoreLogic, Innovis, SageStream, and ARS (links at the bottom). Once you have ceased applying for credit and placed those security freezes it is time to either find credit dispute letters via the internet or purchase them from Brandon Weaver or make your own.
Once you have made the credit dispute letters you should send them out via USPS certified mail and have them notarized. These dispute letters could be disputing that you actually opened these accounts or that you demand that the accounts be completely verified. After submitting the disputes you should wait around 45 days from the date you first mailed them. This will give time for your letters to arrive at the credit bureaus as well as time for the credit bureau's responses to reach you. When you send the dispute letters it is critical that you mail them by certified mail and get them notarized. You should sign your dispute letters. You should make copies and/ or scans of them before you mail them. You should compare how your credit report has changed before the disputes took place and after the disputes took place.
I recommend you watch Brandon Weavers YouTube channel at: https://www.youtube.com/c/BrandonWeaver25
You can also improve your credit score by obtaining tradelines and authorized user accounts that are in good standing. You would want the accounts to have high limits, low to no balances, and accounts that are old without any adverse history such as a late payment. Ideally you would want the accounts to report to Equifax, Experian, and TransUnion.
After you have sent all of your dispute letters over a protracted period of time to account for the long response times of the credit bureaus it is time to take the next step if there are still any remaining adverse accounts on the Equifax, Experian, and TransUnion credit reports. You can now go ahead and make complaints with the CFPB and the Better Business Bureau against Equifax, Experian, and TransUnion if they still did not provide satisfactory proof that those accounts are completely verified.
If the credit bureaus still have adverse information on your credit reports that are not completely verified it may be time to go ahead and file small claims court lawsuits against TransUnion, Equifax, and Experian. Large corporations generally do not want to pay to send someone out to defend themselves and are interested in settling before trial. In addition to this they do not want to take the chance of losing at trial.
Another tactic would be to get a lawyer to write letters for you without actually filing a lawsuit against the credit bureaus. I have never used LegalShield so I cannot recommend them but they might help you write letters. Large corporations take letters from lawyers more seriously than letters from regular people.
You could also start the process of credit repair over again by mailing your first dispute letter and the remaining letters after that.
Once you are done with credit repair it is time to remove the security freezes from ARS, Lexis Nexis, Innovis, CoreLogic, and SageStream.
I have good news for those that want to repair their credit because they have adverse information on their credit reports that is false (as opposed to disputing credit bureau information that is accurate but not properly verified). There is a law firm that will charge you $0 and repair your credit and get you monies upon a successful settlement or trial. I cannot fully recommend them because I have never used them myself. The law firm is below.
The links to the five companies to place freezes on:
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