Are You Ready to Start Your Credit Repair?

[nolanryan]

Hello, I am a fellow newbie to CB and have had much success in the first 4 months of dedicated credit repair. I have read all sorts of threads started from new guys where its obvious they genuinely need some help. This is an attempt to help you/ them and please do not misunderstand this as being rude or snarky. In my opinion, it can be obvious when you haven't done much reading and that is why you may be getting some of the reactions you have received from other board members. You will have to make an active and obvious attempt in helping yourself before others will want to help you. You shouldn't start any more threads until you can pass the following "test". These questions are bare bones basics that when answered correctly, will show that you have done your home work and have a basic grasp of what you are doing. All of these questions are beginner level questions and no attempts of credit repairing or rebuilding should be attempted until you can answer them correctly. Everything you need to read is in here http://creditboards....hp?showforum=15 or can be found by using the search function. Lets begin!

 

1. What are the first 3 things you should do before beginning credit repair?

A) dispute online, sign up for credit monitoring, apply for a credit card

B ) get reports from credit sesame and credit karma, dispute in writing, freeze experian

C) get hard copies of all 3 reports, opt out, delete old addresses

 

2. What is the difference between a FAKO and a FICO and which one do lender use to make a credit decision?

 

3. Where do you get your FAKO's and where do you get your FICO's?

 

4. What does "Triaging your reports mean"?

 

5. When disputing a medical collection, what should you do to get it deleted?

A) dispute online

B ) follow Why chat's HIPAA process

C) dispute over the phone

 

6. When should you pay for an old charge off or collection?

A) as soon as you receive a notice in the mail from the collection agency

B ) you should never pay them off, it resets the 7 year clock

C) after you have exhausted every other option and have a pfd in writing

 

7. What does DV mean?

 

8. What is credit pulls and how is it used to benefit CB members. Which CRA does Navy or NFCU use?

 

9. Which of these 2 examples would have a bigger impact on your credit score?

A) 30 day late payment from 4 months ago

B ) 30 day late payment from 4 years ago

C) neither, trick question. since they are both 30 day late payments they count the same

 

10. How should you dispute with the the major credit bureau's?

A) online

B ) over the phone

C) in writing

 

11. Why? ^^^^^^

 

12. What does CMRR mean?

Edited January 23, 2014 by nolanryan