do you have a close account on your credit report that's a negative status if the answer is yes this video is for you because I'm gonna walk you through the whole process of what you need to do to remove that closed account and you probably have some open accounts that's hurting your credit score as well so with that being said you know what time it is let's get right into it [Music] so in today's class the things we're going to be discussing is number one the best practice you should use to remove these closed accounts off your credit report number two what are the best letters number three we're going to be discussing hey if you have an open account what are the best practices to remove those open accounts and number four we're gonna be talking about the laws you need of reference to not the credit bureaus out so with that being said go grab a pin go get some paper and you already know let me drinking some sweet tea today cause it's about to be a good one let's talk for a second can close accounts be removed from your credit report yes can open accounts be removed from your credit report yes let me explain why everything has to be complete and accurate on your credit report not only complete and accurate they have to update or modify whatever you tell them to do something all right but typically what happens is when you send the letter in I don't know what the credit bureaus will be doing they don't they don't be following the laws that's outlined in the fair credit card Reporting Act so I don't know what's going on but what happens is most people quit most people give up after the first and second round and if you want your desired result if you want to get things removed you have to go the distance when me and might talk about you have to go to Justice with the credit bureaus what I mean by go to distance you might have sent one two three four might have to send 10 letters in to the credit bills and respond to them based off the law now if you're willing to go the distance with the credit bureaus and knock them out you have to follow this process let me outline this process of what you need to do first things first you got to grab your credit report you got to understand what's actually holding your credit score back now when we go to the close account what we don't want to do is focus on this we don't really care about the the history we got to focus on the details all right the detail that's within the actual specific account now the detail that's within the specific account that we want to focus on is the account number the balance the open date Theta last activity data last payment we want to focus on the actual information that's in the actual account all right now we're not going to dispute we're not going to tell them hey update this we're gonna make the credit bureaus typically do their job now how we make them do their job is actually send the letter in but what we want to do is make sure it's certified certify the letter have two forms of identification with the letter and ask the credit bills um let me just show you let me show you really quick foreign discussion since we're talking this is the letter you want to credit bureaus and use all right it's really simple you just want to have your name your address date to whom it it may concern and I just recently looked at my credit report and I want to make sure everything is 100 correct and accurate can you reinvestigate the accounts listed below all right this is all the way telling the credit bureaus I do their job is to make sure everything is complete and accurate like I showed you but we already know that they're going to act crazy or might send a letter in saying that you sound like a creditor they might do a whole bunch of foolishness I'm gonna talk about another process for that that's another video for another day but this is the letter that you typically want to use also I'm gonna have this letter for free the link is going to be in the description it's free for you let me just go ahead and grab it most importantly you just want that like the close account that you want to add or whatever close account open account that's impacting your credit score negatively negatively you want to go ahead and put the account name account number and you're telling them they're reinvest the completeness of every piece of information and it was not accurate please remove it from our credit report we just giving them basic instructions telling them to do their job right this is their job to make sure things come they sure already made sure everything was completely and accurate in the first place but we have to tell them to reinvestigate the account and make sure everything is completely and accurate but before you send off your first letter this is what you want to do as well before you start your first line if this is what else you want to do I know you're tired of the Equator Bros I'm tired of them as well right but we got to do what we need to do to get these accounts removed from my credit report all right we're not going to quit We're not gonna give up we got to make the credit bureau throwing the towel now before you send off that first let before you send the letter in what I want you to do is go to take Spirit please please please go to experience what you're going to see is variations of your first name variations of your middle name variations of your last name variations of your address 123 Main Street yeah probably address is probably one two three main street what you're going to see is one two three four five six seven nine ten mainstream all right you're also going to see other variations of your phone number if you have job history on your credit report you might have multiple that needs to be removed but what I want you to do is go to the addresses that are attached to the specific accounts all right and clean that up but also clean up the other personal information make sure you have your first name middle name last name correct on your credit report and your address that's make sure it's correct on your credit report as well now once you clean up your personal information it's really simple I'll I'll probably add a link for a personal information later if you don't have one um but I'll have a link for that as well but after you clean up your personal information and analyze your credit report now if you don't have a credit report that looked like the thing I showed you the link is in the description for that it's a dollar trial to get that as well so you can see what's going on but after you have your personal information after you um after you have after you've analyze your credit report and you have your personal information now what you want to do is hush those snitches all right now I know this seemed like a lot of work but it's just things we got to do now the reason why we hushing these snitches is because they communicate with each other now they're not going to stop the communication but most importantly we don't want them communicating with nobody and the time that we're disputing but most importantly I want you to go check out optoc preschool we want to opt out of this because I don't want you to get no pre-approval offers and get you to um apply for these credit cards that you don't need all right the credit card that you should start out with is Turbo credit card the reason why is because it's a charge card now when we have credit cards somehow we think that we have extra money but what this car does it it gives you the discipline that you need so you don't so you don't apply so you don't use this credit card and think that you have more money that you actually typically have all right this is the reason why I say start out with a total credit card so you can create that discipline it's a charge card you have to pay back within one or two days when it comes to the total credit card now when it comes to after using off your first letter after you send it to experience trans unit Equifax with those closed accounts now what you want to do is just as you're waiting these 30 days you want to start building up like I said positive history all right positive issue on your credit report and that's what you want to be doing in the meantime but I also have like a question for you is this process seemed like a lot do you feel like it feel like it's overwhelming would you like me and my team to do it now we haven't opened this back up the reason why is because we're doing something a little bit different we want to actually sue the credit bureaus and sue you debt collectors so that's what we're actually building so we can actually help you and serve you and make sure you can get these things removed from your credit report so if you like that drop it in the comments yes yes yes yes yes yes I want that all right we'll talk to you later on Steve we'll let you know um when it's released so you can actually sign up so we can and get paid