hi guys in today's video i'm going to show you guys how to remove every charge
off from your credit report to the video
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guys if you're new to the channel my name is credit coach q i created the
first software that allows you guys to fix your own credit and put your credit
in your own hands guys in today's video i have
a blessing i'm going to bless you guys with this information today for
um i've been kind of stagnant on releasing this information but
i'm going to bring it to the public and help you guys um
remove the charge back the charge offs on your credit report so
the first thing that you want to do when it comes to a charge off is
understand what it is a charge off is a written off debt that are a an
original creditor had on your behalf and they sold it or they
written off on their taxes so when it comes to those big
institutions what they do is that they write the debt off
on their taxes and they get a tax break when they do that it normally create
what is called a charge off a charge of is exactly what that is
a written off piece of debt that you once owed an original creditor
they written off when they taxes and they usually send it off sell it to
another collection agency so in a nutshell that's what a charge-off
is a lot of people i've been hearing these quote-unquote experts say that
don't remove chargebacks and don't worry about chargebacks because
it doesn't hurt your score that might be true in some instances but
it does hurt your qualifications for underwriting when it comes to getting
approved so when you want to get your 2020 bmw or you want to get
a 15 000 credit card those chargebacks are going to go into effect when it
comes to getting your approved because underwriters hate chargebacks it
basically leaves a trail that you are in bad
positions when it comes to big large loans so that's what a chargeback
is those are underwriters look at chargeback they hate them
in today's video i'm going to give you guys information to remove the
chargebacks from all three of your reports okay so
the first thing that you want to do and this is for any type of debt and
collections chargebacks anything that looks for errors
you have to understand guys everything on your credit report has to be 100
timely 100 verifiable and 100 accurate so that mean a letter a number
a word a census a a
amount everything on your credit report has to be 100 accurate
okay so make sure that you're looking at the dates you're looking at the numbers
looking at the name you're looking at everything
and make sure that everything is accurate and it fits
the description of you okay i cannot tell you how many people
have so many inaccuracies that's on their credit report
and they didn't never know how to look for their inaccuracies or
actually look for the inaccuracies and they just stay on credit report for
literally years so the first thing is to look for
those inaccuracies and make sure that everything is
accurate on the report second is
what i like to call a hardship letter so this is number two number two
is the hardship letter the hardship letter is basically
you following a hardship you send a letter
to the credit bureaus basically explaining your hardship
and they basically write the debt off and counsel the debt
a lot of hardship uh approval letters has been coming back from the cro
from the collection of companies and we have been getting a lot of debt removed
because of covet in particular and if you have been
a person that suffers from covet when it comes to your finances or when it comes
to your health or anything like that this would be a great time to actually
take that as a blessing not a blessing that you
have going through it but take it as a blessing and look at the glass half full
and take that opportunity to send that information to the
collection agency and tell them that you are not able to
satisfy this debt because you are going through hardship
now when you do send the letters to the uh collection agency
make sure that you put in a 1099 c ask them in the description to put
uh your debt under a 1099 c and have the debt
counsel entirely okay um guys keep in mind that the software that we
have allows you to remove any type of debt including charge offs
it has over 150 different dispute reasons
when it comes to items like charge off so
and it is completely structured to basically
handle the dispute process for you the software does everything for you
it just put you in the driver's seat and the software becomes
the driver so make sure you have that in mind if you're doing it organically
you're writing these letters out make sure that you
are writing this stuff down but i'm asking because the descriptions
is very important adding the 1099c is a very important add-on when it comes to
sending out your hardship letter so keep in mind you can use the software
the link is in the description below make sure that you check out the link in
the description um we are running a one dollar trial
guys one dollar one dollar one dollar trial for you to
start the process if you don't like it you can cancel any time
but if i was you i would take advantage of this opportunity
to use a dollar investment to change my credit
situation forever okay so if you are doing it organically make sure that you
are following what i'm saying and putting
what i'm saying into the description three now i did tell you that everything
has to be hundred percent timely so 100 timely basically falls
under the statute of limitations so this is
when your heart shift letter come back and
they say we basically don't care about you
we don't care about your hardship we don't care about your situation
we don't care anything about that we are still coming after you and we still want
our money this is the next step the next step
would be basically um making sure that the statute of
limitations on that debt fits the criteria
i want you guys to go on google and find out what is the
statute of limitations for contracts in your state every state is different
in my state is seven years in some states it's five
in some states it's six so make sure that you are
knowing the statute limitations for debt in
your state now once the statute of limitations up for that debt
by law they have to remove it so for instance if you have a debt that's seven
years old and the sexual limitations for contracts
in that state of seven years by a lot of they remove it but sometimes
the statute of women sometimes the debts stay on there for eight nine
ten years and they don't remove it because you are not
using the tools that's afforded to you by the fcra to have those things removed
so make sure that you are looking for the
statute of limitations so if the statute of limitations
doesn't meet up i want you to send out another letter and telling them
that the statute of limitations for this debt does
not add up again keep in mind guys that the statute of limitations letters
and the descriptions are in the software when you do send out your statute
limitations i want you to add in the description
i did not get sued and i do not have a judgment on this debt
and i did not make a payment from the original date
when you make a payment to any type of debt you basically
start to statute limitations over so if you have a
seven year statute limitation debt and you pay on it on the sixth year
instead of waiting a year for the debt to get removed you're going to be
waiting eight years because you just added
another seven years to the original date so you want to make
sure that you are not paying to the debt
especially if the debt is old because you might potentially hurt you yourself
by starting the statute limitations date completely
over okay so the fourth step is basically disputing it so
if the statutory limitations method don't work the
hardship method do not work and the original looking for errors method don't
work i want you to go on the defense now this is when
you're going to get a little bit gritty so to speak when it comes to
fighting back when it comes to the credit bureaus i want you to
go and dispute the debt this is the this is the last method guys
i want you guys to dispute the debt using the 609 method
you can use the verification method or the 609 method both of them tend to work
when it comes to this method now when you send out a 609
letter you just can't send out a letter or a template
never use a template guys always use your original
content that comes from you that comes from your
voice um like i said within the software you are able to edit
every letter that goes out before it goes to printing
you are able to add your own descriptions your own notes
your own everything to the letter before it's printed out
before you actually send it to the credit bureau so keep in mind guys
these are the things that i want you to request
inside of your 609 letter so inside the 609 letter i want you to put this in the
description and i want you to write this down
because this is very important asking for these
items are your law um your god-given law so these
items are afforded to you by the law the law basically stipulates
that the creditors have to provide this information
uh by law and if they don't they have to remove it so these are the items that
i'm asking you to request from the credit bureaus write this down guys um
the first thing i want you to ask for is the original contract the original
contract is the hard copy that you sign when you open the account
it has your web signature on that that contract is very important and by
law they have to provide it when requested so that's the first thing i
want you to ask for the second thing that i want you to ask
for is a paid off disclosure so the payoff
disclosure is in the contract and they're supposed
to have it a lot of times they don't have this information guys and this is
this is this is the tip this is this is the sauce
they don't they don't have this information a lot of the times
because everything is sold once they sell the debt to another
a company is sold digitally so they a lot of times they don't have this
information but you want to ask for the payoff
disclosure you want to ask for interest rate disclosure to prove the
interest rate that was disclosed inside the loan
you want to ask for a balanced history you want to ask for your payment history
for the debt and you want to ask for the credit
insurance so you want to ask for those items and
but like i said guys by law they are supposed to
take care of any type of request when it comes to this documentation
so like i said i'm gonna go back over it original contract
payoff disclosure interest rate disclosure
balance history payment history and credit insurance guys once you ask
for this stuff i can say like 75 almost percent of the
time they don't have it and by law if they
don't provide it they are supposed to remove the debt a
lot of times they just remove it and i'm gonna tell
you why they remove it because they don't want to be
responsible for paying someone to look up this information
they're not in the business of getting giving money out or
paying into your debt they are in the business of receiving money and
receiving money from your debt so if you're asking for all this information
it's going to take them hours and hours and hours of work
they have to pay for someone to do that so a lot of times it's not worth it
and they just remove it so that is a very very powerful way
of getting charge offs removed from your credit report completely
now sometimes they do have the information and if they do
another way you can remove it is finally negotiating the debt
i mean we have clients that just want to negotiate and just want to be
done with it and we get the debt down 40 50 even sometimes 60
because they bought it for pennies to the dollar so they don't mind
negotiating or giving us wiggle room as long as
they're getting some money on the back end
so those are my options from removing chargebacks guys
i mean i chargebacks charge offs if removing charge offs from your credit
report in any way form a fashion i guarantee
you if you follow these steps you will get a lot of success again guys
remember i want you to remember to lick click the link in the description
below and look for the dollar trout to start this
process guys i guarantee you it will save you and your family tons of
money of interest and also it will give you the experience and
the education you need to be successful long term
again guys my name is credit coach q until next time
i'll see you next time bye