Credit Card Watch

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I would estimate that you could summarize the teachings of about 80-90% of the credit repair kits, and guides with the following, very flawed plan:

Start by ordering your credit reports. Identify all the negative items on your credit reports and write letters of dispute claiming all the negative accounts as “not mine”. Then mail everything certified mail, return receipt requested to the credit bureaus. Wait 30 days, and repeat the process.

Sound familiar? I know it does, because I have the evidence of many “resources” teaching just that. They may not be as blatant, or without filler fluff, but cutting through all the fog, that’s their primary strategy.

So let’s take some time to see where the flaws lie, and what you can do to really guard your efforts.

1. I’m sure you’ll agree, there’s a definite integrity issue with just claiming an account to be “not mine”.

Regardless of the potential harm it could present to your credit repair efforts that I’ll explain in a moment, there’s a real breach of integrity claiming that something is not mine, when in fact it may be a valid account. Don’t get me wrong here, principally, I’ve always been troubled that a credit bureau makes their money by keeping my personal payment habit records, and then sells my information to lenders and employers. It just doesn’t sit right, however seeing that it’s a legal business, that just gives me the motivation I need to make sure they have every finite detail, 100% correct. That’s our right. But let’s not compromise our integrity in the process. In fact, the next point will show you why that will pay dividends in the end anyhow.

2. Credit Reporting Agencies can deem an entire dispute letter as “frivolous” allowing them to legally ignore your disputes.

Under the Fair Credit Reporting Act, the credit bureaus are forced to investigate your disputes with the reporting creditor in order to maintain a fair and accurate record of your payment habits. However, they are left one, very important loophole. Specifically, they are given the right to deem a dispute as “frivolous” and save all the time and money associated with investigations. Let’s face it, it certainly doesn’t take a rocket scientist to figure out that “ironically” all the negative accounts on your reports are erroneously being reported as “not mine”. There’s probably no faster way to cause your dispute letters to “step-forward” and identify themselves as “frivolous”.

3. Credit Reporting Agencies may cite all future disputes against that account as “Frivolous” preventing future repair efforts.

If a dispute comes back as “remains” or “verified” that the account was in fact yours, why would they then re investigate the account at a later date when you claim that “you were never late”? Its just another way to flag your dispute as frivolous. Regardless of any future dispute reasons you may have on an account you previously claimed as “not mine”, you will likely agree that it may appear on the surface to be just an attempt to improve your credit rating, rather than making sure you have an accurate credit report.

While the generic “not mine” dispute is so popular in many guides, kits and even services, one way to distinguish a quality product or service is to ask “how” they recommend to dispute your accounts.

In my Credit Repair Truth Blueprint course and videos, I teach students how to find real errors in the reports, and how to formulate a specific action plan for each trade-line. Look for products or services that would preserve your integrity, and you’ll likely find a more effective product in the end.

If you want to raise your credit score through a new cutting edge customized technique, then see “Tim Irish’s Credit Repair Truth Blueprinting System!” Just released, this instantly accessible package including streaming video walk through will show you how you can create a killer credit repair strategy that is personalized to your unique credit files. Credit Repair Blueprinting is starting to sweep the nation!
Check it out here and grab a FREE report: http://www.creditrepairtruth.org/tim/index.html

Tim Irish - Credit Repair Expert
Author/Owner
http://www.CreditRepairTruth.org

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