4. Sending Your Re-challenges Rounds
Disclaimer: We apologize in advance for any grammatical and spelling errors in the slides.
About this module
In this module, I’m going to show you how to process your re-challenges after your initial round 1.
- Processing tools and systems
- Scheduling future PI challenge rounds
- Sending your round 2
- Reviewing your results
- Horizontal Challenging
- Staying on track with your rounds
Full Video Transcript
Hello and welcome everyone to this particular module. Sending Your Re-challenge Round. So if you’re watching this, then this means you have already successfully sent your first round of challenges, and I just want to say congratulations! That is epic. Now, what we want to do is prepare for battle with our additional re-challenges. So here’s what we’re going to cover in this particular module. So the first thing I’m going to get into is the processing tools and systems, because these tools and systems going to help us continue to be effective with this process, then I’m going to break down scheduling your future PI challenge rounds. I’m going to get into sending your round two. Then I’m going to break down, reviewing your results because you need to understand and look at your results for each subsequent challenge. I’m going to break down a simple way to do this with our tools.
Then I’m going to break down the real powerful concept called horizontal challenging that really, really enhances the TOS system. Then I’m going to breaking down just basically staying on track with your rounds. So let’s go ahead and hop right in. So processing tools and systems. So at this point, these are all the tools and the systems that you have available. So remember, I have been saying and preaching, that organization is key. So we have our credit reports folder. So up to this point, we’ve been saving all of our information in our credit reports folder. That’s really our, our Bible so to speak that we’re using to continue to build a great credit file. Then we have our credit report audit sheet, right? So we’re going to continue to use this audit sheet as we build up with each challenge round. We already have our challenge around calculator because we’ve already seen where and when we’re going to send out our challenges, then we’ve already created our rechallenge round schedule, plus our reminders on Google calendar.
So this is already set up. I just broke down LetterStream, and how effective LetterStream is. You’ve already used LetterStream. You’ve already sent your round of challenges out. Additionally, outside of just in the module, you have the Facebook support group. Make sure you attend the Facebook support group. If you have issues, if you have questions, post them in the Facebook group. Then you have the Monday and the Thursday live Q&As. So I am there every Monday, every Thursday, answering those questions. So as you go through this process, you really, really can be supported and make sure you’re getting the results. But again, these are the processing tools and systems that you have available. Don’t say, Oh man, or overlook these. These tools have been used and you’re going to continue to use them throughout this process. And if you’re watching this video right now, because you chose not to do this then, and you haven’t done these tools, then you need to go back to the subsequent rounds, the subsequent modules, and use and create the tools.
But you’re a great person. You didn’t do that. You did create all of these things. So make sure you organize all these tools and you continue to use these tools because it’s a foundational thing. It’s going to help you with the re-challenge process. Now, scheduling your future personal identifiers rounds. So as I’ve already said last week, the goal of the PI challenge is to trigger the e-Oscar system, right? That’s that is the purpose of the personal identifier challenge round. And remember we want to overwhelm the bureaus with the TOS system. So normal, let me break down how this works with the PI round. So just doing a normal PI round means, hey, look, I’m just going to send my personal round, my personal identifier challenge every 45 days with my rounds. That’s totally fine. That’s perfectly fine. You can continue to just sending your personal identifier challenge every 45 days.
Like we’ve already, like I’ve already taught you and I’ve already communicated. Now, if you want to be more aggressive, then what you can do is you can schedule your personal identifier challenges to go out every 30 days. Remember, TOS. If we want to be extreme, then what we can do is we can schedule our PI challenge round to go out every 15 days. So remember in the previous module, in LetterStream, I showed you how to schedule your rounds. You would basically just do that same exact thing. So if I have my personal identifier challenge letter, let’s just say I upload all of those personal identifier challenge letters three rounds, let’s just say I uploaded 3-3-3 rounds. I would just schedule the future rounds to go out every 15 days. Now this is extreme. Again, it’s not necessary, but again, the whole point is if you want to be really, really extreme with the bureaus, with your personal identifier challenge round, you can do that. Now again, I’m not saying it’s required.
I’m not saying you have to do it. But what I am communicating to you is if you do this, it’s going to enhance the results. It’s going to enhance the TOS system. I should say it’s an enhanced the overwhelm system. Because again, what we’re doing with that personal identifier challenge is triggering e-Oscar. Okay. Now, sending your round two. Round two is really, really simple because all we’re going to do with our around two is, you’ve already completed around one, you can go ahead and re-send your entire round one challenge. That’s what you’re doing. So everything that you’ve already created for round one, you’re going to re-send all of that stuff for round two. You’re not going to change anything on your letters, right? Even if items are deleted after I teach you this process, you’re still going to send the same exact challenge letters with the same exact information, right?
Because again, what we’re doing is TOS. We want to overwhelm the system and force them to send us verification. So when you send your round two, go ahead and just send the same exact round that you sent around one. Now for extra credit, if you want to go ahead and take the time to schedule your round two now to go out on those dates that you’ve already identified on your Google calendar, you’re more than welcome to do that. Simply put you would just go back to your LetterStream account and then simply upload all of the letters that you’ve already included for your personal identifier challenge, your hard inquiry challenge, your negative account challenge, the same exact way. And the only difference is with these rounds, you would have to pay for them as well, but the only difference is you’re scheduling those rounds to go out at that future date.
This is the only time I recommend scheduling rounds for this. It’s for your round two, and then also, like I just explained for your personal identifier challenge round. Everything else, you will not do this in that format. Okay. So this is how you send round two. So round two is really simple. Okay. Now, my suggestion would be, since if you already completed around one, just go ahead and just knock out your round two, just go and get that completed, get it knocked out, you know exactly how to do it. Now, reviewing your results for SmartCredit. So I have been recommending either SmartCredit or Identity IQ. So depend upon which one you have, I’m going to cover both in this particular, in this particular module. So when you’re reviewing your results for smart credit, what you’re going to be doing is you’re going to go down to the viewing your credit summary section.
And this is the main content that we’re working on. So the real big ones is derogatory, public records and inquiries. So delinquent accounts, typically those are accounts with open accounts, though delinquents are accounts that are open with late payments. So if they don’t fit the criteria that we’ve already explained, and there’s really nothing you’re going to be doing there. So when you’re looking at your SmartCredit report, this is the content section that you’re really focused on to update with the challenges. Now, I have a screenshot of what this looks like. So we’re not just looking at the content. We also want to be looking at the personal information section on our SmartCredit as well to see if we’re getting those old names and those old addresses removed. So I kind of just blocked this out, but what you will be looking at is your personal information section, and then also the summary section.
So the summary section, what I was just breaking down, but in that summary section, you’re really looking at the delinquent accounts, the derogatory accounts, and what you’re looking to do was compare your next refresh of your credit report to your previous refreshed. So what does this mean? This means if you sent round of challenges on, let’s just say March 1st and your next round of challenges is going to go out on April. No, not April, May 15th, no, it would be April 15th, cause that’d be 45 days. So your next round of challenges would be going on April 15th, you’re going to look at your credit report on March 1st, and then you’re going to pull your credit report and then compare the difference in the summary section. And you should be able to see along with any names, if they’d been removed, if there’s a decrease in the number of derogatory accounts.
So let’s just say you started off with eight derogatory accounts with TransUnion, eight with Experian and then eight with Equifax. You can quickly see, okay. If I had eight here on this next rechallenge, I only have six, and that means you had a decrease in your negative accounts, right? So that’s the summary section, and that’s how you can quickly view to see if anything has been deleted. Now if the summary section is still the same, not a big deal. You just go through with the rest of the process that I’m outlining. Now reviewing your results with Identity IQ is the same. The only difference is, with identity IQ, you have a delinquent account status, a derogatory status and a collection status. So derogatory and collections are basically the same exact thing, but identity IQ breaks them up into two categories. So you’ll notice that the derogatory account is above the collection account status,
and you may have seven derogatory accounts and two collections, but you’ll notice that those two collections are still included in the seven derogatory status accounts. Then you’re going to have those public records if applicable. So again, you’re looking to see if you have those public records there. If you have them, you know, and then like I was saying, I don’t know if I said this on the SmartCredit, you also want to be looking at your inquiries. So you want to be seeing, did you have a reduction in your inquiries as well? So I’ll give you an example of this. So this is an example of what identity IQ would be looking like. So you’ll see the number of inquiries, the collections and the derogatory accounts. So really what you’re looking to do is see, did you have a decrease in the amount of accounts that you have when you first started versus when you send your re-challenge and then also you’re looking for your inquiries, right?
And then the same exact name for your personal information. So you want to see, did your names and have your names been updated. Have they been, had they been verified. Really, have they been updated or they still remaining. Which means you need to continue to send that re-challenge letter. So the thing about this is you always want to be auditing for this particular information, so you can know exactly where you stand. Now, once you’ve audited your credit report and you reviewed your credit report using the sheet. Now we’re going to pull out our credit audit sheet. Okay. So remember we have our credit audit sheet already available. We’ve been using that this entire time. You’ve already used it. So really what we want to do is we want to duplicate. We’re going to start by duplicating the initial tab. So whatever our initial report was, when we did the audit sheet, we’re just going to duplicate that report.
And we’re going to look at, and we’re going to name the subsequent duplication round two, round three for our subsequent challenges to see exactly where we stand. Then another thing you can do is you can color code for success. So let’s just say blue is deleted. Yellow is pending, meaning you’re still challenging that, and then red is accounts that have been added. So I’ll give you an example of what I mean, I’m going to pull up my audit sheet that I’ve been using this entire time and just break down what I mean. So let’s just say, this is my audit sheet, right? I’ve already sent my round, this was my initial report when I sent it. So what I want to do is simply come right here, hit duplicate, and then I’m going to rename this for round two, right?
So I’m going to go ahead and rename this for round 2, and then I would have already looked through my credit report, and let’s just say that on my derogatory status for this particular account, let’s just say it was deleted from TransUnion. I’m gonna just type in deleted, and please forgive my spelling, deleted. And I can just easily just name that as blue, right. Just make that blue. Actually you know know what, let me refresh it. I’m going to make the letters blue, deleted, and then let’s say it was deleted on all three bureaus. So I would just go deleted, deleted, deleted. Right. So that way I know that that account is completely deleted and I don’t have to worry about it. And let’s just say the other remaining accounts are still here. So the other remaining accounts are still here
after I go through my audit, I would just go right here and I’m going to mark all of those as yellow. Right. And let’s just say that these medical collections are still here. Let’s just say, I’m not saying this happened, but let’s just say these two collections popped up. So if these two collections popped up after a challenge for whatever reason, sometimes it happens. We would just put that in red and actually let me do that as white and then make the text red. So we would put that in red, but let’s just say, when we’re going through our specific, we say, hey, look, maybe this account was deleted, but we’re still challenging. And so I would just type to that box as deleted, and I would just make that as blue, just like this, and actually let me go back over here and make this white, but then I’m going make the text blue. Nice and easy.
Okay. So that’s how we would do this. And we would do that process for not only our negative accounts, derogatory/collections, we would do the same thing for student loans, bankruptcies, and then remember I told you guys to color code, your inquiries before, but you were color coding your inquiries over here, just to stay organized to get them on the challenge letter. At this point, we could just go ahead and just mark them as the same, and then we can follow the same exact format. So if we have this Capital One inquiry that was on Experian, with a PNC one that was on there, we would just do that like this, please. Sorry about that. A call come in. But we would just basically just do this the same exact way. And we would just mark the color that is relevant to that specific challenge.
So if it’s been deleted, we would just mark it as blue, just like that. I keep doing it in the main one, I’m going to mark, this is blue, and then if these are still remaining, we would mark them as yellow. And I think you get the picture in terms of what I’m communicating here. So we would just mark this yellow, actually keep the text black here, but then mark the actual thing, yellow here, there we go. And then these were added and we would just mark those as red. Okay. So this is how we use this audit sheet. So again, that would be our round two. And then after we’ve gone through, we would do the same exact thing for the names as well, but after we’ve gone through and we’ve done this round, we come back, follow the same exact process, duplicate the tab and continue for every time we send out around the challenges and that’s really the moral of story and how we want to use this audit sheet.
Okay. So it was really, really powerful, really good tool for us to use. Now let me break down this last concept called horizontal scaling, basically going wide, and the reason why we do this. So vertical challenging means we’re going to be efficient but less effective. So for rounds 4-12, this is what we’re going to do. Again, remember we want to overwhelm the bureau. So let’s just say, for example, and this is what I mean by horizontal, horizontal means we’re going wide. So if I’m looking at, let’s say I have an account on TransUnion, let’s just say we’re using TransUnion, and I had, I started off with 10 accounts and now on TransUnion and I still have 8 remaining accounts. Well, instead of me just sending one challenge letter to TransUnion, including all eight negative accounts, what I would suggest for that next round, let’s just call that round four,
we create 2 challenge letters and we just put 2 negative account challenge letters, and we put 4 accounts on each. So what does this mean for a negative account challenge, we’re technically going to send 2 separate challenge letters that have 4 accounts each to address the remaining 8. Then, on the subsequent round, so we would send, let’s just say we have 6 remaining accounts on our TransUnion. What we would do is create 3. 3 negative account challenge letters, and we will put 2 accounts on each for the negative account round. Now we would not do this for personal identifiers and we wouldn’t technically do this for inquiries. We’re really only going to be doing this for the negative account challenge. Now, if you want to do this for inquiries, you can, but I’m really explaining going wide, horizontal, right? So again, we couple this with the overwhelmed factor and we are literally putting ourselves in a position to where we have so much information going to the bureaus.
They have to respond. So this is how we overwhelm the bureaus on steroids. So again, we’re not going to do this for the first three challenges. We’re not going to do this. We’re only going to start doing this on around 4, 5, 6, 7, 8, 9, 10, 11, and 12. I don’t even think you would need 12 rounds, but all I’m saying is each round you want to get wider and wider. You want to go horizontal with the challenge. Okay? Now, as we wrap up here, I want to make sure you stay on track. So what you want to do is you want to have a credit success meeting and that credit success meeting is already on your calendar. It’s called the re-challenge appointments. So when you have that re-challenge appointment scheduled on your calendar, these are the things you’re going to do. Number one, you’re gonna review your credit reports.
Number two, you’re going to update your audit sheet with what’s been done like I just broke down. You’re going to create your re-challenges for your subsequent rounds. So you’ll go back to week four, the template letter generator, and then you’re going to create those re-challenges if you need to. So that’s what you’re going to do. Then we’re going to practice overwhelm or horizontal challenging on our subsequent rounds once we’ve gotten to that 4th round and then for extra credit, I’ve already broken down, but what we can do is we can schedule our re-challenges in advance. So if we already know we’re going to have those re-challenge that we need to send out for those subsequent rounds, we can schedule those in advance, but this is how we stay on track and we stay organized and we just continue to rinse and repeat the process, and that’s it guys. So I’m extremely, extremely excited for you. In the next module, I’m going to break down exactly when you should pay a negative account, and I will see you there.