Credit Score Rights

Debt Collector – Do Not Call

Your Name
Mailing Address
City, State, ZIP

Collector
Collector Address
City, State, Zip

Date:

Re: Acct # XXXX-XXXX-XXXX-XXXX

Dear Collection Representative,

I would like to request in writing, that no telephone contact be made by your offices to my home or to my place of employment. If your offices attempt telephone communication with me, including but not limited to computer generated calls and calls or correspondence sent to or with any third parties, it will be documented and considered harassment. All future communications with me must be done in writing and sent to the address noted in this letter by USPS.

Best regards,

Your Name
Address
Phone #

Goodwill Original Creditor Late Payments

Date

Creditor
Creditor Address
Creditor City, State, Zip

Re xxx
To Whom It May Concern

Dear:

I am writing a letter about my experience with xxxxxx that is a mixture of a grateful “thank-you” and a pressing request concerning a xxxxxx Charge Card tradeline in my credit files that I would like to have revised.

I received the xxxxxx card in [YEAR], several years before I [CHAOTIC LIFE EVENT – A MOVE, A BIRTH, MEDICAL SICKNESS, ETC.]. Later when I experienced the [CHAOTIC LIFE EVENT] and while working on [WORK PROJECT], I became disorganized with respect to, as you saw, making timely payments with xxxxxx. I fully recognize my responsibility with respect to payable accounts and have worked diligently to rehabilitate my relationship with xxxxxx since that time.

To be honest, that year was a “wake-up” call for me regarding fiscal organization. Since then, I believe I have learned the essential organizational and financial management principles I desperately needed at that point. Thankfully, responsible credit management is now reflected in my credit records which—excluding the xxxxxx card late entry—are excellent. I wish to thank you for renewing your confidence in me and for giving me a second chance at a relationship with you, one that I am determined to keep spotless.

We are about to shop for a mortgage, and it has come to my attention that the late notations from xxxxxx may preclude me from taking full advantage of the very lowest interest rates now available. Since those notations do not reflect my current status with xxxxxx, I am requesting that you give me a second chance at a positive credit rating by revising those trade lines. Your customer service representative suggested that I write you for a “goodwill adjustment.”

I sincerely hope that there is redemption at xxxxxx, and I beg you for such consideration. Please let me know if any additional documentation would assist in reaching a positive outcome, and I thank you again for the time you have spent reading this letter.

Very hopefully yours,

Name
Address, City, STATE ZIP

We’ve been discussing some tactics used by the Obama campaign that you can apply to your own situation. After seeing people cringe at mortgage broker responses like “cool” to a business email we thought we would share a few thoughts about business email etiquette.

Yes, I used the word etiquette and I know what it means. I admit that because I consider you a friend and colleague; I don’t usually make this formal. Yes, it is okay to be informal these days but when it comes to leads or new business contacts it is best to err on the side of being formal.

Show your leads, clients and business partners respect and they will respect you. It is best to come across as a professional and someone that will be easy and a pleasure to do business with. You do have only one chance to make that good impression - it is invaluable to make that first impression a good one if you want to build trust and confidence.

Here are 7 simple steps to take in the right direction -

1) When you use your work email, remember your employer may monitor it so don’t write anything you would mind the company President reading - it is your career at stake.

2) Your subject line is key and many recipients don’t open emails if they think it may be from a spammer. If you are following up with a lead that doesn’t recognize your email address this is even more important.

3) Stay as formal in the beginning as if you are sending a letter on company letterhead. Remember this is your business image and branding. As your relationship develops then you may adopt a less formal style.

4) Show the highest level of courtesy until your new contact tells you to address them another way. Like Mr. Canole or Dr. Smith, until they say “call me Drew”, etc stay formal. Today, most people do use their first names but not everyone wants you to take that liberty.

5) Don’t use much formatting or your email could be blocked by spam filters. This means different fonts and colors and the like. Also your recipient may not have their computer set to display your email the same way as you send it and it could come through jumbled. Also remember to use proper punctuation and capitalization. Don’t just be lazy and send in all one case, that shows lack of attention to detail.

6) Use common courtesy of an introduction and a sign off. It can be as simple as Hello, Hi, Good Day, Thank You, Sincerely, Best Regards, etc. This is the mark of a professional.

7) Limit your signature file, five or six lines should be sufficient to convey your information as your company name, phone number, slogan, website address.

Incorporate all of these steps into your email communications and you will come across as the professional you are. This allows you to gain clients over the competition who don’t take the time to set a professional tone and image.

We wish you success in forging new business relationships!

We are pleased to resume our monthly email updates addressing credit issues that affect you. If you choose not to receive these emails, there is an opt-out link at the bottom of this email.

One term that many have not heard of is referred to as your credit utilization ratio. Which we’ll explain below. I recently received this email …

“Drew,

Thanks, I know you are doing your job because items keep being deleted from my credit reports. The problem is that my score is not going up, what gives with that?” Signed, Confused Customer

Tampa FL

———THIS IS A QUESTION WE GET ALL THE TIME ———–

Your credit score is dynamic, always changing and is explained as a mathematical algorithm which means you can’t compute it yourself. There are three things you can do now while in credit repair and always to keep your score maximized.

First, I know I don’t really have to say this, but first, PAY YOUR BILLS ON TIME – one thirty day late on a mortgage loan can decrease your score by 90 to 100 points. Online bill paying is the way to go for many people to guarantee their bills are paid on time. Better yet, when you do this make sure the bank account you use to pay your bills has some sort of overdraft protection so you get no nasty surprises.

Second, don’t close old accounts. You don’t have to use them but keep them open. Anytime you close an account you lose all of the history and it lowers the average age of your accounts.

According to Myfico, 15% of your score comes from your history…We have seen scores drop BIG time especially when someone closes multiple accounts..

Third, and not widely understood, is one of the most important factors in computing your credit score, it is actually 1/3 of your score – it is called your “credit utilization” ratio. This ratio shows the percentage of your credit limit (from credit cards) that you actually used. That number is more important than the amount of credit you have access to. Credit experts vary in their recommendations and you’ll hear anything from its okay to use 50 percent of your credit to you should not use more than 15 percent.

At Waterfield we believe if you have no more than between 25% and 30% of your limit used you will not negatively impact your credit score. Simply explained – if you have a $5,000 credit limit don’t have over $1250 - $1500 charged on your card(s) at any one time. What counts is your total, even if you plan to pay the bill in full.

During these trying economic times it is IMPORTANT to maintain your credit score and we’ll share more tips with you in the weeks and months to come..

I hope this advice has been helpful. I know the weekend is here and I wanted to leave you with a FREE book, a $40.00 value.

Monetarily this book is $40.00 but the principles in this book will change your life.

http://www.universallawstoday.com/ebooks/think-and-grow-rich.pdf

Response Reminder

All clients should expect to see results arrive in the mail at least every 60 days. At certain times of the year it can be much quicker, merely days or weeks. By law the credit bureaus and the creditors have a minimum of 35 days total to respond and mail their investigation results back to you and can have up to 45 days. When you add mail and processing time 45-60 days is the average time quoted. Whenever you receive a response please forward to us and keep a copy of anything you want for yourself. We will update your file and reissue disputes as needed based on the response you receive. We use all the credit laws in advocating for you so it is important for us to review the response. If you have collection companies on your reports, many do send an invoice and/or settlement letter as a response and we would like a copy of those also. Contact us if it has been 60 days and you’ve received nothing in the mail regarding your credit. Thank you!

In a supermarket, Kurtis the stock boy was busily working when a new voice came over the loud speaker asking for a carry out at register 4. Kurtis was almost finished, and wanted to get some fresh air, and decided to answer the call. As he approached the check-out stand a distant smile caught his eye, the new check-out girl was beautiful. She was an older woman (maybe 26 and he was only 22) and he fell in love.

Later that day, after his shift was over, he waited by the punch clock to find out her name. She came into the break room, smiled softly at him, took her card and punched out, then left. He looked at her card, BRENDA. He walked out only to see her start walking up the road. Next day, he waited outside as she left the supermarket, and offered her a ride home. He looked harmless enough, and she accepted. When he dropped her off, he asked if maybe he could see her again, outside of work. She simply said it wasn’t possible.

He pressed and she explained she had two children and she couldn’t afford a baby-sitter, so he offered to pay for the baby-sitter. Reluctantly she accepted his offer for a date for the following Saturday. That Saturday night he arrived at her door only to have her tell him that she was unable to go with him. The baby-sitter had called and canceled. To which Kurtis simply said, “Well, let’s take the kids with us.”

She tried to explain that taking the children was not an option, but again not taking no for an answer, he pressed. Finally Brenda brought him inside to meet her children. She had an older daughter who was just as cute as a bug, Kurtis thought, and then Brenda brought out her son, in a wheelchair. He was born a paraplegic with Down Syndrome.

Kurtis asked Brenda, “I still don’t understand why the kids can’t come with us?” Brenda was amazed. Most men would run away from a woman with two kids, especially if one had disabilities - just like her first husband and father of her children had done. Kurtis was not ordinary - - - he had a different mindset.

That evening Kurtis and Brenda loaded up the kids, went to dinner and the movies. When her son needed anything Kurtis would take care of him. When he needed to use the restroom, he picked him up out of his wheelchair, took him and brought him back. The kids loved Kurtis. At the end of the evening, Brenda knew this was the man she was going to marry and spend the rest of her life with.

A year later, they were married and Kurtis adopted both of her children. Since then they have added two more kids.

So what happened to Kurtis the stock boy and Brenda the check-out girl? Well, Mr. & Mrs. Kurt Warner now lives in Arizona, where he is currently employed as the quarterback of the National Football League Arizona Cardinals and has been to the Super Bowl 3 times. Is this a surprise ending or could you have guessed that he was not an ordinary person.

Stock boy to Super Bowl.

Don’t doubt what you are capable of. Make sure you are doing the things necessary to give yourself a shot when the opportunity presents itself. Make sure you are always being the kind of person great things like this happen too. If someone can go from stock boy to the Super Bowl there is no reason our dreams can’t too. Just never give up and always do the right things!