Before you dive in, visit www.creditrepaircloud.com/dispute-letter-templates if you’d like to receive these 5 proven dispute letter templates for FREE
Today, most credit repair companies only use a handful of letters for about 95% of their customers. So these are the letters that I am going to focus on today.
However, if you are in a situation where you need more advanced letters, just log into your Credit Repair Cloud account and use the letter search feature to access over 100 different letters covering just about every possible scenario.
All you have to do is answer a few simple questions and the letter search function will take you straight to the letter you want.
If you haven’t tried it out, be sure to check it out right after this podcast! If you don’t have an account, you can download a free 30-day trial from creditrepaircloud.com.
If you are working to fix credit now, it will all boil down to legally using the power of the fair credit law and not taking no for an answer.
And the best way to fight the offices and WIN is with these 5 tried and true letters.
- The “Round 1 letter”. This has been used thousands of times and it works for good reason! This is a very simple letter that allows you to list a number of articles along with the reason for the removal as well as instructions for the credit bureau.
The first round letter should always be the first letter you send and it should always be sent to the credit bureaus. Why? Well, you can contest as many articles as you want. The offices will contact each setter for you. If you don’t reply within 30 days, it will be deleted automatically.
This is by far the most widely used and effective letter for tracking down the low hanging fruit and again should be your very first step when searching for items on a credit report.
- The next dispute letter any credit repair entrepreneur needs is the “Investigation letter”. So you’ve already contested with a credit bureau at least once or twice and didn’t get the answer you wanted. The re-examination letter is a great way to tell the credit bureau that you are not giving up! It is amazing to me how much patience and perseverance can produce results, and this letter is just that – persistent! So if they say no – what are you doing? You keep asking over and over again. The screeching wheel is being oiled!
- The next and very, very effective letter you must have is called “Verification method letter”. This is usually referred to as MOV for short. This letter is commonly used when reviewing an item that you know is inaccurate.
You see, the offices do very basic research and they are all electronic. You contact the setter and wait for an electronic response to check whether the item is verifiable or not. If you get a response stating the item was reviewed with no evidence, you can always ask how the item was reviewed and sometimes it will result in deletion.
The offices are not required to provide evidence (signatures, documents, evidence, etc.) but they must provide their verification method. (who they contacted, what information was transferred etc) …. Sending a MOV letter is therefore a great way to put pressure on them and urge them to be deleted.
- Next on the list is the “Warning letter”. How many times have you received an inappropriate response or no response at all? Probably way too often! If so, it may be time to fire a warning shot. Too often, the credit bureaus will play games by ignoring you or responding completely inappropriately. They can accuse you of hiring a credit repair company – which, by the way, is entirely up to you and is 100% legal. In some cases, they may think your request is frivolous or ignore it all together.
In this case, you need to be persistent and not take it personally. However, you should definitely defend yourself. One of the best ways to do this is with a well-designed warning letter. In the letter, you are reminding the credit bureau of your consumer rights, providing the facts, including prior correspondence and / or any evidence – and most importantly, making it clear that you mean business.
You can improve your push play even further by filing a complaint with the CFPB and including a screenshot of the complaint in your warning letter. Either way, it’s one of the most dominant and important letters in your arsenal.
- The fifth and final dispute that every credit repair company owner should have and use is this “Validation request letter”. This isn’t a credit repair letter in and of itself, but it can be very helpful when a customer is exposed to aggressive debt collection agencies, harassment, or attempting to collect an invalid or expired debt.
Validation harnesses the power of the Fair Collection Practices Act. It can be very powerful, disrupting debt collection efforts, stopping harassment, and deterring collection agencies that just don’t abide by the rules.
If your client intends to pay off the debt, this letter, by asking for validation, can help verify that they are paying the right collector for the right debts.
Remember, when you use these templates they are not set in stone. Think of this as the basis for any point you want to convey.
You can easily make minor changes to the content of the letters based on your client’s individual situation.
For example, if you want to argue with a creditor instead of an office in Round 1, all you need to do is edit the recipient’s name and address.
When sending out a warning letter, take a minute to explain how frustrated you are and show how this mistake is affecting your customer, rather than just using the written template.
Let them know if you have any plans to file additional complaints with the FTC or the Attorney General, or if you have any plans to file a lawsuit, this is your chance to come forward and make your intentions clear.
To be successful, you end up modeling what works – and these letters have been shown to work!
If you’d like to use our proven and effective methods that we teach in our Basic Dispute Course to verify them, dispute accounts, send alerts, investigate, intervene, file complaints, request validation, and a host of other real-world ones Strategies That Actually Get Results …
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