Topics to Learn in Credit Repair Training

Essential Guide to Credit Repair Training

Introduction

Knowing about credit repair isn't enough to build a successful credit repair business. Continuous training is crucial for anyone aiming to start or grow in this field, including professionals in finance, mortgage brokers, auto dealers, and lawyers.

Goal: Master the fundamentals to create a sustainable credit repair business and enhance professional services.

Key Topics in Credit Repair Training

1. How a Credit Score is Calculated

• Understanding Basics: Many adults don’t know how credit scores work.
  • Credit Scores: Range from 350 to 850; aim for 700 and above.
  • Credit Worthiness: Used to determine loan eligibility.
  • FICO Scores: Calculated every time they are requested.
  • Credit Bureaus: Equifax, Experian, Transunion; scores may vary among them.
• Further Learning: American Credit Repair Academy offers detailed courses on credit score calculations.

2. How to Read a Credit Report

• Skill: Identify errors, duplications, and negative items.
  • Client Review: Go through the report with the client.
  • Highlight Issues: Show the client what will be disputed.
  • Prioritize: Determine the order of disputes based on severity.

3. How to Give a Credit Audit

• Offer Value: Provide free initial credit audits to attract clients.
  • Tools: Use tools like Credit Repair Cloud’s Simple Audit for quick, detailed audits.
  • Ongoing Service: Offer regular credit report analyses for a fee.

4. What to Dispute on a Credit Report

• Legal Rights: Dispute any item; the bureau must verify or remove it.
  • Focus: Identify inaccuracies according to the Fair Credit Reporting Act.
  • Strategy: Develop a plan with the client on which items to dispute first.
  • Resources: Use Credit Repair Cloud’s dispute letters tailored to various scenarios.

5. How to Use Factual Dispute Methodology

• Ethical Practice: Avoid false identity theft claims.
  • Method: Focus on actual inaccuracies per FCRA guidelines.
  • Benefits: Allows process duplication, team training, and attracts quality clients.

6. How to Write Dispute Letters That Work

• Types of Letters:
  • Round 1: General disputes about multiple items.
  • Round 2: Specific disputes about one item.
• Content: Include reasons and instructions for each disputed item.
  • Verification: Attach client’s ID and address proof.
  • Effectiveness: Use Credit Repair Cloud’s Wizard tool for creating precise letters.

7. How to Track Disputed Items

• Follow-up:
  • Credit Monitoring: Log in monthly to check updates.
  • Client Correspondence: Request all communications from bureaus and creditors.
  • Reminders: Use calendar alerts for follow-ups.
  • Persistence: Regular follow-ups often lead to item removal due to the hassle for bureaus and creditors.

Getting the Training

Without proper training, navigating credit repair can feel overwhelming. Investing in training equips you with the knowledge and strategies needed to run a successful credit repair business.

Learn More:

• Sign Up: American Credit Repair Academy for comprehensive training.

By mastering these key areas, you can enhance your expertise, provide valuable services to your clients, and grow a successful credit repair business.