Credit Correction: Helping Consumers

Do-It-Yourself Credit Repair
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Valor Intelligent Processing

Credit Correction: Helping Consumers

bottom line 4 2 2This week's Bottom Line reveals how accounts receivable professionals can become an invaluable asset to consumers for getting their credit score back under control. Learn about this and more at

Do-It-Yourself Credit Repair

When working with consumers, it can be helpful to develop a good rapport by advising them how to get their credit back on track. Here are five steps you can suggest to help them.

Step One: Go to and get all three bureau credit reports once a year for free.

Step Two: Review all three credit reports and then remove negative information that is inaccurate, incomplete, or unverifiable.

Step Three: Work on the items "most damaging" to "least damaging" in this order: bankruptcy, foreclosure, repossession, loan default, court judgments, collections, past due payments, late payments, credit rejections and credit inquiries

Step Four: Mail certified dispute letters or Use the online disputing service provided by the credit bureaus or

Step Five: Wait 45 days, and repeat the process if necessary, at least annually. If a credit bureau cannot verify information on your credit report within the time allowed by law, they must remove it.

Remember: Anything a credit repair company can do, you can do for yourself for free.

Mulvaney Recommends Changes in CFPB Report

cfpbYesterday, the Consumer Financial Protection Bureau (Bureau) released its semi-annual report highlighting the Bureau’s work. This is the first report issued by Acting Director Mick Mulvaney and it includes his four recommendations for statutory changes to the Bureau.

“The Bureau is far too powerful, with precious little oversight of its activities,” said Acting Director Mick Mulvaney. “The power wielded by the Director of the Bureau could all too easily be used to harm consumers, destroy businesses, or arbitrarily remake American financial markets. I’m requesting that Congress make four changes to the law to establish meaningful accountability for the Bureau. I look forward to discussing these changes with Congressional members.”

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