Removing Negative Status Closed Accounts from Credit Report

Key Points

• Objective: Guide to remove negative status closed and open accounts from credit report.
• Main Processes:
  1. Best practices for removing closed accounts.
  2. Effective dispute letters.
  3. Best practices for removing open accounts.
  4. Relevant laws to reference.

Steps to Remove Closed Accounts

1. Understand the Impact

   • Closed accounts can negatively affect your credit report.
   • Everything on the credit report must be complete and accurate.

2. Grab Your Credit Report

   • Focus on the account details: account number, balance, open date, date of last activity, and date of last payment.

3. Dispute Process

   • Send a certified dispute letter to the credit bureaus.
   • Include two forms of identification with the letter.
   • Request for reinvestigation of the account to ensure it is complete and accurate.

4. Sample Dispute Letter

   • Contains name, address, date, and a request for reinvestigation.
   • Template available for free from the speaker's provided link.

5. Prepare Before Sending the Letter

   • Go through Experian to clean up variations of personal information (name, address, etc.).
   • Ensure consistency and correctness of your personal information.

6. Opt-Out Services

   • Prevent credit bureaus from sharing information during the dispute period.
   • Use services like OptOutPrescreen to avoid pre-approval offers.

7. Build Positive History

   • Start building positive credit history while waiting for the dispute process to complete (30 days).
   • Consider using a Turbo Credit Card for disciplined spending.

Further Assistance

• Overwhelmed By Process?
  • The speaker's team can perform the process for you and potentially sue credit bureaus and debt collectors.
  • Engage with the speaker's team by expressing interest in the comments.

Note: Links and templates mentioned are provided in the description by the speaker.