Tag: credit repair

When Credit Repair Gets Frustrating

~ Carolyn Warren ~ 2 Comments

Did you send out a dispute letter only to receive a generic form letter of denial?

You’re not the only one. It happens to the experienced professionals, too. What happens next will make all the difference.

It’s easy to get frustrated, upset, discouraged, or angry. When you feel that way, ask yourself this: “If I were a pro doing this credit work for someone else, would I take this rejection letter so hard? Would I take it personally?”

Of course you would not. And neither do the pros. They understand it’s all part of the process. And then they proceed to the next step, whichever letter that is.

One of the things I learned about credit repair over the past two decades is that when nothing seems to be working, it is time to demand written proof. Documented, written proof!

You don’t do this for your first letter. You do this when the creditor is denying your legal right to have a credit report that is accurate, true, up-to-date, and verified.

Verified!

You’ll find more detail about how this works with a letter I personally wrote that you can use in the newest book: Repair Your Credit Like the Pros DEEPER DIVE. This is the sequel and update to the first book, Repair Your Credit Like the Pros. You can check it out here.

Don’t give up on repairing and restoring your credit. Put on your “pro hat” and use the letter I wrote that has worked for other people when nothing else seemed to work.

Good luck and God bless!

Emails I Have Received (Look inside)

~ Carolyn Warren ~ Leave a comment

I am one of those rare authors who invite readers to send me a quick question–and I actually answer–which surprises some people.

Very recently, I have been getting emails asking about removing an address from the credit report. I’ll answer that in a moment, but first I’d like to share some encouraging words I have received.

James wrote: Carolyn, your book is simpler than others to understand.

S.R. wrote: Thank you for your books. Following them has kept my credit repair business going.

William wrote: I read the first 14 pages of Build and Protect Your Credit Like the Pros and realized that everything I thought I knew about credit was wrong.

Back to the questions about address removal.

If the address is one where you never lived or is a commercial address (not residential) or is your parents’ address, then send a letter stating that and demand the address deletion.

If the address is attached to accounts that you have open, do not send an address deletion request. That won’t happen.

If the address is attached to an old paid off collection — and both the address and the collection are erroneous or unverifiable, then you can request an investigation for deletion, per your legal right.

Remember, that Experian, Equifax, and TransUnion are not the only credit bureaus you need to see your credit report from now in 2025. You also need to get your report from the others that are listed with addresses in Book 2, Repair Your Credit Like the Pros DEEPER DIVE.

The top credit repair businesses order your reports from the three main bureaus/reporting agencies AND from the secondary agencies, because that is required for best success.

No matter what your credit looks like today, you can begin a new path now to create a credit report that you can be proud of. Hold your head high and do the work you need to do. As James said, my book is simpler than most — and it works!

A Gift That Can Change a Life

~ Carolyn Warren ~ Leave a comment

How do you help someone help themselves?

Maybe it’s an adult child, a parent, or a friend, but chances are that you know and care about someone who either (1) made a financial mistake in the past, or (2) accrued some bad credit through no fault of their own.

Your person may have been victim of an unscrupulous auto finance shark, or didn’t understand about the credit card trap with their stupidly-greedy interest rates. Or, they may have gotten over their head with student loan debt and there seems to be no light at the end of the debt tunnel.

Your person may have been laid off work or been hurt in an accident or suffered a debilitating illness.

An excellent way to give them a helping hand is by providing them with knowledge and a clear path:

Knowledge is power!

Repair Your Credit Like the Pros and Repair Your Credit Like the Pros DEEPER DIVE have been described as a godsend and life-changing.

For not very much money at all, you can empower someone you care about to change their life for the better in 2025.

Available in paperback and on Kindle here and here.

(Purchase now before the price increases in 2025.)

How Many Credit Accounts Should You Have?

~ Carolyn Warren ~ 2 Comments

This is a common question, and the number of accounts you have (along with their balances) has a major effect on your credit score. So let’s dive in.

You want to have at least two major accounts on your credit report. Major accounts in order of greatest to least are:

1) A mortgage

2) An installment loan, such as a car loan or student loan, with a set payment amount and set end date.

3) A major credit card, one that can be used at any type of establishment, such as Visa, MasterCard, Discover, AmEx.

Individual store cards such as Home Depot, Macy’s, and Chevron are not major credit cards. If you have two major credit cards and one store or gas card, that is enough to achieve a top tier score of over 720.

If you don’t have a mortgage or an installment loan, you can have two major credit cards and achieve top credit. You don’t need to run out and buy an automobile under the excuse of building credit!

The ideal mix of credit is to have a major account (see list above) plus a couple of major credit cards with possibly a store card/gas card added to the mix. That is a nice mix.

A total of three to five accounts is sufficient to achieve a top tier credit score and qualify for the lowest interest rate and best financing. You don’t need 10 cards, and I personally do not recommend having that many for several reasons.

There are people with 10 open accounts that have top credit scores, but they are not in the majority — according to my 23 years of seeing thousands of credit reports.

You do not earn bragging rights by having a wallet overstuffed with every credit card out there. I don’t recommend it.

Building a positive portfolio is not a license for overspending.

Repair Your Credit Like the Pros DEEPER DIVE, Carolyn Warren

Many people who carry a lot of open credit have mid-to-poor scores, because they are carrying too much debt. Their debt-to-income ratios are over 50 percent, which docks their scores.

Having a stack of credit cards means more monitoring and juggling. Most credit cards will automatically shut down if you don’t use them for a time period specified by their own rules.

Credit is to be used as a convenience and to build a good reputation in the financial community. It is not so you can collect cards like they’re comic books. It is not so you can buy more stuff that you truly don’t need. It is not so that you can live off your cards while you sink deeper in debt.

Credit is a hot topic, and I welcome your comments. This blog requires me to approve all comments to keep out the spam bots, but I promise that I do read all and approve them same-day.

Professional Credit Expert’s Insight

~ Carolyn Warren ~ 4 Comments

If you know anything about credit repair and the Fair Credit Reporting Act, you know the bureaus are allowed 30 days to verify whatever minuscule details we are requesting. This protects you from dying of old age before getting a response, which no doubt would happen if they could get away with it. Let’s take a quick minute to examine the advantages we have with this 30-day response policy.

What’s actually happening behind the scenes is the bureaus are playing the middle man waiting for a response back from the creditors about a particular investigation.

It’s ultimately the creditors that have 30 days or less to respond to the bureaus, who in turn determine if that response is appropriate. We continuously see indications through our clients’ results that either no work or attempted work was done on our investigations. Simply, the account is now deleted, without any argument.

Was it because they discovered they dinged the wrong person, or they couldn’t find the details we were asking for, or perhaps they just didn’t get around to it in the timeframe they were allotted? They don’t divulge that information; but as office paperwork tends to stack higher than the Himalayas, letting documents age 30 days would appear to be the salient issue.

Also, consider government-related accounts such as judgments, bankruptcies, and tax liens: in your opinion, does the government operate at lightning speed, or are they slow as snails (like the DMV)?

It’s easy to see that when given only 30 days to complete a series of exquisite investigations into their misinformation–well, you can only guess what the result might be.

Many thanks to Jay O’Connor at National Credit Care for this insightful post.

National Credit Care
1499 W 121st Ave #300, Westminster, CO 80234
866-595-6313


Available on Amazon

New Year’s Resolution: Build Better Credit

~ Carolyn Warren ~ 1 Comment

Is 2020 going to be your year for better credit? Will you buy a home in 2020?

If so, here is a list to get you started in the right direction.

BETTER CREDIT IN 2020

  1. I will pay all bills on the same day they come in.
  2. I will set auto-pay dates for earlier than the last date (when errors can cause an unfair late payment).
  3.  I will keep all credit card balances below 50% of the limit at all times.
  4.  I will buy only what I can afford to pay in full when the bill comes. (No more carrying balances and wasting precious money on interest.)
  5. I will not engage in so-called “retail therapy” or shopping out of emotion, which is an unhealthy financial habit.
  6. I will not take a loan with a finance company.
  7. I will not do any type of business with a “payday” type of loan.
  8. I will have credit in my own name and remove myself from piggyback credit on parents or strangers.
  9. I will remove myself from co-signed loans. I will not co-sign for anyone, ever, for any reason.
  10. I will take joy in nature, friendships, family, and God rather than in material possessions that I cannot truly afford.

Have a happy and blessed New Decade!

 

3 Credit Tips for a Higher Credit Score

~ Carolyn Warren ~ Leave a comment

Last month, I was recorded for an episode of “On Everyone’s Lips.” Today, I am sharing three of those credit tips with you.

O.E.L.’s goal is to teach techniques and strategies.

O.E.L.’s mission is to inspire listeners.

Here are 3 Tips from the show:

  1. What debts should be tackled first?

It’s best to pay down any and all revolving debts first. Credit cards have a higher negative impact on your credit because they continue to affect you for longer, as opposed to installment loans like student loans and auto loans that have an end date.

Pay down your credit card debt first. Generally, it’s best to start with the card that has the highest APR/interest rate. The more you pay on interest, the more money you wind up paying in the long run.

2. What are some ways to maintain good credit?

Never shut down all of your cards. Closing your credit card accounts means that nothing is actively reporting to the credit bureaus. Eventually, that closed account stops helping your score. When there is no score to report and you have no credit history, then you will pay more for a home loan and other financing.

If you use a credit card once or twice a year, then the creditor won’t shut down your card.

3. What is the best way to obtain your credit report?

The best way is to write a letter to the address below and request a copy of your free annual report. Avoid using the online credit report request, because in so-doing you agree to waive several of your rights when you check the box agreeing to the terms and conditions. It’s always best to put everything in writing. Use the good, old fashioned USPS mail, even though it takes longer than the online system.

Annual Credit Report Request Service
PO Box 105281
Atlanta, GA 30348-5281

For the complete podcast, see here.

Thank you, Mr. Khari Harrigan, podcast producer and manager, for inviting me on your show.

Thank you, O.E.L. team Lindsey J, Chelsea Jade, and Monique Knows aka Mo for the interview.

 

Announcement: I’m Giving Away All My Book Royalties

~ Carolyn Warren ~ 1 Comment

Very near the equator where the sun rises at 6 a.m. and sets at 6 p.m. 356 days a year, there are villages where people live in thatch and mud homes barely large enough to shelter a sleeping family. They cook by fire and farm by oxen. They gather sticks and carry 50-lb stacks on their backs to sell at market in order to survive. In this place, something wonderful has happened.

Ethiopians are telling other Ethiopians about a newfound joy, the joy of knowing Jesus in a personal way. Their lives are being changed from male-domineering-sometimes-abusive into compassion. One of these villages has been praying for a neighboring village for 10 years, and now those same villagers are finding faith in Christ.

In one village there are now 88 Believers who gather to worship. They sit on plastic jugs or on the ground under a tree. They have no protection from scorching heat or rain. They need a church. Moreover, in their culture, what makes a religion valid is a church. They are accustomed to prayers in a mosque. Socially, without a church, you are nobody. Friends have told them, “If you get a church, that is when I will come and pray with you and join your faith.”

To build a church, they need land. A prominent Ethiopian, an Influencer, has come to salvation—and he brought his family of 24 into the faith with him. This man has donated land for the purpose of a church. The problem is, there are no funds to build a church nor means to earn funds. How much does a church cost?

$7,000! That’s right, only $7K will build a church that will change the course of a village. Less than what most of us pay for our cars.

I am donating 100% of my royalty income for November and December from my two bestselling books to fund a church for these dear people. However, my current monthly is not enough. And this is where I need your help. I am asking you to hit Share on Facebook to pass on this information so that people who need the information will order a book.

Repair Your Credit Like the Pros has 412 reviews with an average of 5 stars. Everyone who needs to fix their credit can benefit. (See Amazon)

Build and Project Your Credit Like the Pros is for young people starting out, immigrants, and anyone else who wants to go from basic-to-expert and a 800+ credit score in record time.

All November and December profits brought in by these books will go to build a church in Ethiopia. It is high time that prayers sent to heaven for 10 long years get answered!

If you know someone who could use it, why not purchase a book as a gift for them, knowing you will be helping families living far, far below the poverty line?

Thank you for considering being a co-partner with me in this worthy endeavor.

Are You Getting Bad Service? Your Credit Score Might Be to Blame

~ Carolyn Warren ~ 1 Comment

The shocking results of a customer service survey showed that people with low credit scores receive more disrespect and bad service than people with high scores.

It’s not enough that people pay higher rates and higher premiums for having bad credit! Now they get treated like second class citizens, too.

I’m not making this up.

Cable One, an Internet company that services almost a million customers, fully admitted that they spend less time and resources helping their customers who have low credit scores. Here’s what CEO Thomas Might said:

We don’t turn people away,” Might said, but he added that the cable company’s support staff isn’t going to “spend 15 minutes setting up an iPhone app” for a lower-value customer.

Did you get that? If you have a poor FICO score, you are considered a “lower-value” customer.

They flag a person’s file so that the customer service reps know not to spend too much time on you.

This is just one example. Who knows how many other companies provide inferior service to people with subpar credit?

Listen, friends: You don’t have to take this garbage! Take control of your credit, starting today.

Request your free annual credit report so you can check for errors and unverifiable derogatory information. Check your balance-to-limit ratios and pay down those high balances that are docking your score. Pay all your accounts on time. Don’t ignore those statements that come in the mail, because there might be something important inside the envelope. Keep your good credit open, even if you don’t use the credit card (assuming you’re not wasting money on an annual fee).

If you’re not sure where to start, pick up a copy of Repair Your Credit Like the Pros here. Make sure you get the Expanded Edition, not a used copy of an old version of the book. That way, you’ll get all the newest info and all the letters that accompany it.

Refuse to be a victim of a low credit score! Take charge of your life and earn the respect from the financial community that you deserve.

If you’d like to read more about Cable One’s credit discrimination, see here.

New Bill Says Negative Credit Should Be Removed After Four Years

~ Carolyn Warren ~ 6 Comments

Last Thursday, a new Bill (H.R. 3622) was introduced to the Financial Services

House Representative Rashida Tlaib, Michigan

Committee. This bill would shorten the time period that negative information can report on a person’s credit report.

Currently, late payments, collections, charge-offs, and other adverse credit can remain in your credit file for seven years. This bill, if passed, would reduce that to four years.

Is four years long enough for consumers to have their credit scores docked for a mistake or hardship of the past?

Is four years long enough for creditors to have leverage in collecting past due funds?

The bill was sponsored by House Representative Rashida Tlaib, Michigan on July 5, 2019.

Thank you to Credit Repair Services, LLC for bringing this to my attention.

“With your help and the ease of understanding your book, I was able to get a $2,500 deletion off my credit, among others. This book is a life saver, well, credit saver! (smile) 
Thank you,
T.C.