Credit Repair Strategies That Work!
Although every client’s situation is unique, the process for operating your credit repair business and building your client’s credit will roughly follow the same steps.
At The Dispute Center, we follow a comprehensive strategy to help our mutual clients reach their goals. Our philosophy has helped thousands of clients obtain the financing and credit they were seeking.
Step One – Verification Audit: We investigate the accuracy of all client accounts with both the credit bureaus and the reporting companies to ensure the correction or deletion of any inaccurate or erroneous accounts. Once all items are updated, removed, or verified, we proceed to the next step.
Step Two – Account Resolution: Depending on the account type, age, balance, and client goals, typically during this step, we help the client negotiate a reduced pay-off for any derogatory accounts that have been validated. In most situations, derogatory accounts that report a balance and have been verified must be settled or paid to improve the client’s credit standing.
Step Three – Credit History: The final step involves the evaluation of your client’s positive credit history. In some cases, the removal of negative credit can actually decrease your client’s credit score if there is not sufficient positive credit to replace it, so building positive credit in a managed fashion is just as important as resolving negative credit. After all accounts are resolved and reporting positively, we provide the client with credit building strategies to continue the improvement of their credit standing. To optimize the credit score, we recommended the clients strive for the ideal combination of credit accounts: a mortgage account, an installment account such as a personal or auto loan, a retail card such as a gas or store card, and a traditional credit card.
Once these steps are completed successfully, your client’s credit should be in the best possible standing. We continue to guide your client with successful credit strategies and encourage them to maintain their positive reporting efforts. If the client is able to keep payments current and utilization rates low, they will be on their way to credit success.
Prematurely establishing new credit or attempting to obtain multiple positive accounts at once can be detrimental. It can increase the chance of collection or legal activity against your client.
Your clients must have a commitment to the process to have the best success with credit repair
In order to complete the program quickly and with the best results possible, your client must be ready to be proactive throughout the recommended steps. Because of this, it is vital to encourage your client to participate hands-on in the credit repair process. Your client should commit to:
- Communicating consistently
- Forwarding received responses in a timely manner – the responses provide vital information for us to formulate our custom responses and allows us to update the accounts to the appropriate bureaus as soon as possible
- Avoid any further derogatory actions, such as new late payments or collection accounts, increasing open credit card balances, or submitting new credit applications
- Having available access to funds to settle any accounts that are validated with outstanding balances
- Be willing to add positive credit at the time deemed appropriate to further increase credit status
- After encouraging your client to embrace these commitments, your clients will be ready to proceed with the credit repair process.
The best part is of all of this time-proven strategy is that through all of these steps, we do the heavy lifting for you. By outsourcing the bulk of these time- and cost-heavy aspects of your business, you get extra time to focus on community outreach and customer acquisition. We’ll handle the rest. We pride ourselves in transparency, so every step we take is available for your review.
Contact us now to experience The Dispute Center difference that will allow you to stand leagues above your competition. Give us a call at 616-541-2322 to take your business to the next level.