Claiming Identity Theft is Not a Credit Sweep
Identity Theft This is where you claim that all or some of the items on your report are resulting from identity theft. You attempt to get them blocked using section 605B of the FCRA. You must use an official police report and affidavit.
Here’s the verdict on this: it doesn’t work. Why? Because millions of consumers used this illegally even though the debts actually belonged to them and now, even if you are truly a victim, it’s almost impossible to get it done in within the four business days that section 605B calls for. Can you get it done in a few months? Sure, if you have all the required documentation, a dispute with the creditors as well and have supporting documentation. If this method is used (either by the consumer or a credit repair company – with or without the consumer’s knowledge), the items will be temporarily deleted and then reinserted back to the credit report shortly after when the creditors verify the debts as accurate. Once they are reinserted due to verification on identity theft, it’s 10x more difficult to get them removed under different reasons; sometimes impossible! Why? Because now the bureaus know what you’re trying to do and you’ve started your quest for better credit by telling an outright lie.
This isn’t your best option. Any credit repair service that tells you to get a police report when your identity has not been stolen should be avoided.
What a Credit Sweep Really Means
At First Coast Financial Matchmakers, our credit sweep is when all resources, techniques, and methods are used (not ID theft) to remove the negative items. This includes, but is not limited to a credit bureau, creditor, collection disputes and complaints with the Consumer Financial Protection Bureau, the attorney general of your state, BBB and FTC.
With FCFM, this also includes manually disputing each of the negative items on your credit report without using software-generated templates. We want to be as genuine as possible, and utilize real dispute reasoning based on the actual credit report and not just one-size fits all templates that you find all over the internet. These dispute templates, such letters that claim “balance is incorrect” or “the last date of activity is incorrect” are ineffective because they read like templates, and the credit bureaus know how to spot them. We also dispute all negative items each round instead of a max of 3-5 items per month as other large companies do, even when multiple dispute letters are sent out for each file.
The true meaning of a credit sweep defined as a way to obtain permanent deletions in the least amount of time and is the quickest way to obtain financial freedom.
Beware of companies advertising all items removed in less than thirty days – those are temporary deletions and will be reinserted once the debts are verified by the companies. This is not a true credit sweep, and companies like this give the term credit sweep a bad name.
There is more nuance to a credit sweep than sending template dispute letters, and doing so can hurt your chances when it comes to gaining deletions, that’s why it’s important to use experts that know what they’re doing and have experience working with credit bureaus, credit companies, and consumer protection agencies.
Choose a Proven, Effective Credit Repair Company
With over five years of relevant credit repair experience, First Coast Financial provides fast, effective credit sweeps. You’ll receive your first round of improvement in 30-45 days or less. We achieve these results using aggressive but 100% legal and FCRA-compliant strategies that we have fine-tuned with over 1,000 clients. Unlike other companies that use sleazy tactics, require you to do all the paperwork, or only get temporary removals, we are certified credit experts who have developed a paperwork-free system. We’re so confident that we can provide results quickly that we give you access to our client portal. The portal gives you real-time updates on our progress and allows you to track your credit improvement. No hold times or vague answers. Our process is fully transparent. Ready to take a giant leap toward your financial goals with better credit? Get started.