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Do-It-Yourself Credit Report Clean-up

Discussion in 'BlackHat Lounge' started by Jonny Quick, Jun 4, 2011.

  1. Jonny Quick

    Jonny Quick BANNED BANNED

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    Anyone know anything about how to do this? Anyone ever done it before? One of my customers did this for a living, and while I was working on his computer he told me a bit about what he does and how.

    As I understand it, Federal Law allows you the ability to "challenge" or "dispute" any negative entries on your credit report. The reporting agency then forwards that dispute to the entity/company that made the entry, and they have 30 days? to respond. If they fail to respond in that time period, then the Law requires the reporting agency to remove the disputed entry from your report.

    There are also prescribed ways to dispute an entry.

    So, the customer tells me what he does is that he disputes ALL of them, and disputes them in every way the law defines. There's also a time period (6 months) and after that passes you can do it all over again. Eventually, all the negatives come off and you are good again.

    That's theory. I'm interested in practical app. I want to do this for myself. What's the best way to go about doing it? Is there a specific web-site you go to to dispute/challenge an entry?

    Also, there seems to be several companies that do credit reports, and they are supposed to give you a free one each year. Do you get all three reports, and are they all free? What about fr33cr3d1tr3p0rt.com? I hear them advertising all the time. Are they a good deal? Do you get all 3 reports in one? Do all 3 reports say the same things, or could they all be different?

    Lots of questions, lol Thanks in advance.

    ~ Jonny
     
  2. thetvnun

    thetvnun Power Member

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    you dispute everything, but not through the creditors infrastructure. you also dispute it to the 3 reporting agencies via certified mail with return receipt. they will reject your first letters for not proving your identity - you will need to provide a copy of your dl and possibly disclose your ss#.

    you must not acknowledge the debt is your as even verbally ths will leally allow them to establish a new origination date.

    they will not reply within 30 days and you will report to ftc, then they will remove, but then put it back on once theyve established proof of debt.

    you can win, but its a long process. cell phone carriers are easy to beat as they buy eachother out so often and maintain poor records, other tradelines that have been bought are usually easier to beat as well.
     
  3. DevilMayCry

    DevilMayCry Newbie

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    Im interested in how to do this also. I understand what to do, but who do you dispute this to?
     
  4. thetvnun

    thetvnun Power Member

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    you can use the letters on this site:
    http://www.creditinfocenter.com/forms/

    auto repo's are tough though. you will dispute with your creditors (they will be on your credit report) and with the reporters.

    get an "infile" credit report from a broker or auto-dealer or bank. the pedestrian reports are easy to read but they dont have a lot of info.
     
    • Thanks Thanks x 1
  5. raygun3001

    raygun3001 Regular Member

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    This is great info, anyone have any more on this? I've always assumed build credit companies were a scam.
     
  6. CrazyMatch

    CrazyMatch Junior Member

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    Here is a not so legal way to do this but a friend of mine did it and he now has perfect credit.

    1) Call each creditor up and request a letter from then stating that you owe this debt. Make sure that you block your number and give them a PO Box and let them know you are requesting this for your bankruptcy

    2) Next go to all 3 credit reporting agencies, equifax, experian, transunion and reuest a copy of your credit report for free. When you get these in the mail they will have fax numbers that you can fax paperwork over to so you can dispute these items a lot faster.

    3) Get the letters from the creditors and scan them to you computer. You will need an OCR software to be able to to turn an image into a text file. Once you are able to do this what you do is remove the middle portion of the letter and put in there that this debt has been satisfied in full and to please remove acct # XXXXXXXXXX from (your name) report. Make it short sweet and to the point.

    4) You will want to make sure that the font that is used on the letter that was sent is the same font that you fill your wording in with. Of course make the letter look legit. Check spelling and make sure to double check the account number and your name.

    5) You will then fax over this letter to the 3 agencies. They will remove it from your credit within 30 days.

    Why does this work...? I will explain. Credit agencies will only go after people that they know have at least a 1% chance to pay. When you call and tell them you are filing BK they will normally put you into a folder that says BK and they file it. They believe that either A) you are filing BK B) your broke and not to bother. The other main factor is that the letter they send you is in fact there letterhead and the person who signed it works there. So you will not have to worry about the credit companies finding this to be legit. If the item re appears on your credit let the credit agencies know that you have faxed over proof that this item is satisfied and to remove it.

    I can tell you he removed 13 items off his credit in 60 days and hasnt had a problem getting credit. His credit score is 700+ and he very happy. This is not the most legit way but again who cares.
     
  7. Jonny Quick

    Jonny Quick BANNED BANNED

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    Well THANKS to "thetvnun". Just now I found some time to check out the link he posted and I found this:



    http://www.creditinfocenter.com/creditreports/HowToGetTheCreditBureausToInvestigate.shtml

    It describes what you do if you dispute an item on your credit report, and the credit reporting agency chooses to not investigate it.

    Here's the best part:





    This little blurb right here makes this whole thread worth reading, I think. Imagine if, after sending disputes to all the debts, etc..., you get a form letter back (from all 3 credit reporting companies) saying they think you are a 3rd party and your dispute is "frivolous". The minute you respond to that letter (within the 30 period), you've just given them an extension and created a lot more hassle for yourself.

    Anyways, this little fact makes me thankful to thetvnun. I haven't spent much time on the rest of the site, but I wanted to let other folks know that I think it's worth checking out.
     
  8. bushbabie21

    bushbabie21 Executive VIP Jr. VIP Premium Member

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    My question is this...you say dispute but disputing assumes that its actually a faulty debt. Are you guys talking about getting rid of items that you actually did do wrong? If so, isnt that credit fraud or something to that effect.. I would think that once they start whatever investigation they are going to do, they might try to sue you in criminal court for some type of fraud. Any responses?
     
  9. Jonny Quick

    Jonny Quick BANNED BANNED

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    What exactly is a "faulty debt"? Understand you are not disputing the debt, you are disputing the information the Credit Reporting company is making public ABOUT a debt. You aren't disputing the debtor, you are engaging in a dispute on the company that is making their version of the facts public, for all to see. And, that information can make the difference between whether or not you qualify for a house, car, student loan. Sometimes an employer will choose not to hire you based on what these credit reporting agencies say about you.

    So, the question about the accuracy of the information is completely irrelevent. The fact that it even EXISTS is what's important. Making it NOT EXIST is the goal, and rules are set-up in order to allow that to occur. People are legally allowed to dispute this information and sometimes it is in your best interest to do so. Whether or not that information fits someone else's definition of "accurate" is completely irrelevent.

    This is a Black Hat forum; have you no idea what that means?

    Do you lick the boot that steps on your neck?

    Yaaargh !
     
  10. bushbabie21

    bushbabie21 Executive VIP Jr. VIP Premium Member

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    damn...Seems like i struck a nerve...lol
    Great explanation by the way. I wasnt judging, just trying to get the concept straight as i am in the same boat and am looking to do this soon myself. So am I correct in assuming that its just out of ignorance that most people dont try to dispute most of their "bad credit" listings? Also what is the success rate for getting rid of these faulty listings?



     
  11. bushbabie21

    bushbabie21 Executive VIP Jr. VIP Premium Member

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    Also i did just realize that unfortunatly context does not translate well online so i do apologize if i seemed to be condescending....I wasnt...just seriously wanted to know why i havent done this long ago as those were the concerns i felt might be brought up if i tried to do this.
     
  12. thetvnun

    thetvnun Power Member

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    when you dispute a debt you are essentially asking for proof of the debt and that it belongs to you. at this poinbt you are neither denying or accepting it, your just asking for proof. there are a number of documents that creditors need to maintain in order to accommodate a dispute, if they do not provide them then they lose. you are in no danger of judicial recourse if you dispute all debts - even though you know they are yours.

    companies that are frequently bought out by other companies (cell phone carriers n such) often fail to provide these documents and frequently lose.

    unfortunately the reporters do a lousy job investigating disputes, i have frequently won disputes against creditors just to find out that equifax has found that i had lost against the same creditor, then i have to show them that even the creditor acknowledges that they are un-able to provide proof of debt, in which case they . . . "after further review" decided i won as well.

    its a long process
     
  13. angelas111

    angelas111 Jr. VIP Jr. VIP Premium Member

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    the older the item is the most likely you will get it removed because they fail to respond on old accounts. and don't do them all at once. do a couple a month depending on how many you have.
     
  14. Jonny Quick

    Jonny Quick BANNED BANNED

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    It's also an annoying one. First time out, I went to https://www.annualcreditreport.com/cra/index.jsp I made the mistake of thinking I could easily get all 3 credit reports (Experian, TransWorld and Equifax) quickly and easily.

    Wrong.

    Experian was easy, but it also didn't say hardly anything. I read somewhere that there is a difference between the data that you see on your "Free" credit report, and the data that (for example) a mortgage company might get when they pay for it. Looking to confirm this, and I wonder if it's true if it might be worthwhile to get a paid-for version of the credit report, just to see what's there. I assume you have the right to dispute all information, even if it's not on the "free" credit report.

    Is there a difference between the Free Credit Report and a Paid-for Credit Report?

    The other two companies (TransWorld and Equifax) both had additional "Security Questions" other than what was asked in the first stage. the way that the questions were phrased, it seemed to me that they were "fishing" for me to answer them in a certain way before they decided I was who I said I was. For example, they asked if I had ever lived at an address, and I truthfully said "No", but it was a relative's address. So it was connected to me, but I never actually LIVED there. Because I didn't give the answer they wanted, the web-site said I'd have to submit my Free Credit Report request in writing. Apparantly, the only way to get your "Free" Credit report is to lie. Well, that's appropriate, because what I'm about to do is at least an order of magnitude beyond that, so I'll be getting even with them, and them some.

    So, Stage Two was to call the toll-free number and give the information (name, address(es), birth data, SSN) to them that way.

    1-877-322-8228

    The computer voices are laughably stupid and tedious, but (I think) less than the stupid forms online. No "Special Security Questions" from the Reporting Agencies either. They say all 3 reports will be sent within 30 days, which I find difficult to believe. I'll post back on the results.