1. The Challenging System

Hello, and welcome everyone to week four, and I’m going to be breaking down the challenging system and also how you can create your challenge letters. So this is going to be a momentum shift week for you. So everything that you’ve done up to this point is just going to continue to build that solid foundation as we start this process. So here’s what we’re going to cover. So the very first thing I’m going to break down and explain to you is TOS and why this concept and method is so, so, so important. As you begin creating and sending your challenge letters, then I’m going to break down the challenge sequence. So you need to understand the challenge sequence and how that works with TOS. Then I’m going to break down the data input format, because again, this format is very, very important to enter in when creating your challenge letters. I’m going to break down using the template generator.

So the unique thing about this week is this is an action week and every template letter generator is specific to that challenge. Then I’m going to explain and show the importance of making sure you remain organized because this organization is going to save you a lot of time later down the road. Okay. So TOS, what does this mean? And why is this important? Well, as I’ve discovered is, and I’ve already explained to you in the Metro 2 Compliance and I’ve explained to you with E-Oscar and how, as long as credit is a for-profit business, we want to really tip the scales in our favor because when we use the method of challenging, the bureaus have to respond. So what we’re really looking to do is overwhelm the bureau. So I took the liberty of defining overwhelm, and this is what I came up with.

It says bury or down, defeat completely, give too much of one thing. So this is what we’re doing. We’re overwhelming the bureaus with all of this information, because we want to continue to force the bureau to send verifications. And what we’re doing is we’re challenging from Metro 2 Compliance. Like I’ve already explained. So again, we want to tip the scale in our favor, almost like a domino. Like we hit that domino and next thing you know all those dominoes keep lining up to where the bureau is eventually just, you know, say, look, we’re just going to remove this item. So the goal is to update the content on your report. And while we’re going through this, I want you to understand that consistency and consistency and consistency is the reason why the overwhelm system works so well when it comes to challenging the bureaus from a Metro 2 Compliance perspective.

So again, 99% of credit repair people don’t even understand or even know Metro 2 Compliance exists, or even the E-Oscar system. Now you do, and we’re going to use the system that they built to help protect us as consumers with the reporting aspect of our credit report. So we want to get our glass cleaned and get all those negatives removed while at the same time, allowing our positive reporting accounts to really flourish and shine and show that we can have a good track record. Now that’s TOS explain. So we really want to overwhelm the bureaus. Now, when we coupled TOS with the challenge sequence, this is how this works. So what we’re going to do is we’re going to send a personal identifier challenge. Then we’re going to send a non-account holding inquiries challenge, then we’re going to do a negative account challenge. So this is called the 3-3-3 or the foundational challenge that you’re going to send out for each round, moving forward.

Now, if you have additional type of accounts on your report, such as public records, late payments, student loans, we’re also going to create those specific challenge letters to attack the bureaus. And we’re going to send those in addition to what I call the 3-3-3, but the 3-3-3 is the foundational challenge that we want to send because we want to overwhelm bureaus, and we want to put ourselves in position to where we’re attacking them specifically with this sequence. Now, personal identifier challenge, why do we do it and why is important? So the first thing about this is, what we’re doing is we’re triggering the e-Oscar system. And this is more so a request to have our data reported, using a specific format that I’m going to cover on the next slide. But really what we want to do is make sure our data is going to the bureaus with our current name, our address, and our employer.

And we also, and you’ve noticed when you audited your credit report, you noticed that in week two, you saw that there were old names on there, names that you were associated with, that we need to get removed. Old addresses that you no longer live with or live at, remove old employers. So we want to get all of these things cleaned up for two reasons. Number one, those things could be associated with old negative accounts or bad credit. Number two, the reason why we want to do this is because you want to look stable to the banks when you go to apply for financing. So if you go, when you apply for financing, they see that you have all these different names and addresses and employers that are like, man, we don’t even know if we’re going to get our money back or who this person is.

So this really, really helps you get through the door more efficiently for those two reasons. So that personal identifier challenge we’re going to send out. Now the data input format I was just referencing and why we use this to trigger E-Oscar. So what we’re going to do on our challenge letters is only input this data specifically, and we’re only going to use our first name only. Last name only. Our street number where we reside only. Our street name only. Our city only, and our state only. For extra credit we can include our zip code, but this is all we input on our data for our challenge letters, because we want to make sure we’re triggering the e-Oscar system with this alone, right? Nothing else. Now the hard injury challenge is also what we’re going to do. We’re going to use this data input format on all of our challenge letters.

So what we want to do with the hard inquiry challenge is send all non-account holding inquiries. So we’re going to audit for that. You’ve already done that. And then any inquiries that are not associated with positive reporting open accounts. So we’re going to include those. And we’re only going to challenge up to 11 non-account holding inquiries per bureau, per challenge letter. So that’s how we do this with the hard injury challenge. So the negative account challenge means we’re going to include negative accounts for collection, charge-offs, repossessions, medical collections and charge-offs. And then what you want to do is challenge up to 11 negative accounts per Bureau, per round. I even created a template letter generator specifically for medical collections to really assist with the overwhelm factor. And we have specific information on there for HIPAA. But again, this is the negative account challenge round that we send out.

Now, once we do the 3-3-3, if you have this applicable like public records, then we’re going to create challenge letters specifically for public records. So bankruptcies are typically the most common and that’s going to be a chapter 7 or chapter 13 bankruptcy, but the other less common bankruptcies that could be reporting on your file could be judgements. So we’re going to use this challenge for that tax liens, foreclosures, short sales, child, support in arrears, or alimony in arrears we want to get that stuff updated from a reporting perspective. Now it doesn’t mean you no longer owe the money. It just means what we’re doing with this challenge is we’re updating it to either get removed. We’re really updating this to get it removed. So what we’re going to send this public record challenge. If we have late payments and I’ll go into this in more detail, but late payments with open accounts, they have to be with these type of open accounts.

So only for accounts with less than 2 late payments that are 36 months old. That have late payments within the last 48 months. And what we’re really doing with this challenge is we’re looking to do a PAAN L, which is a Paid As Agreed Never Late. That’s what we’re looking to do with this specific challenge for accounts that meet these specifications. And then if there are accounts that have more than three late payments, or are not 36 months old, we’re not going to use this challenge process, right? But we’re going to send this late payment challenge as well. Now, student loan challenge, this is a big one. So we’re only going to challenge student loans that have a charge-off status, collection status, charge-off/collection status, closed late 120 days late status or closed with charge-off status meaning

it’s a closed account, but it still has that charge-off status. So any of these types of student loans, we’re going to challenge. So we’re not going to challenge student loans that are open. We’re not going to challenge student loans that are in forbearance. We’re not going to challenge student loans that are in deferment. Those accounts are in good standing. We’re only going to challenge the negative type of accounts on your report that fit these statuses with that student loan challenge. Now, each template generator, as I’ve already discussed is created for that specific challenge letter. So every challenge has his own template generator. So every challenge letter is going to have a how-to-video as well to address that specific challenge letter. And what we’re going to do is make sure we make use of our credit audit sheet, when creating each specific challenge letter, because we’ve already audited our credit report and we already know how we need to attack that type of challenge.

So when we have our credit report, our credit audit sheet, it’s going to make the process way, way quicker, much more simpler, and really copy paste. And then each challenge letter, once you complete it, will be emailed and made available for you to download. And I’m going to email that once you create it, it’s going to automatically be sent to you, and then you’ll be able to save each challenge letter, following the organizational format. I’m going to cover on the next slide because again, organization is key. So once you’ve created all your challenge, letters, it’s going to be emailed to you. And then this is the format you want to do. So again, staying organized is pivotal. It’s going to save you so much more time later on down the road. Don’t skip ahead. Don’t say no, I don’t want to be organized, follow the system, follow the organizational format because it will save you time.

So remember you create a credit report folder in week two. So we’re just going to go back to that credit reports folder. And we’re going to create a folder specifically called “Challenge letters”. Now, once we create our challenge letters folder inside of our credit reports folder, what we’re going to do is create a round 1 folder inside of the challenge letters folder. And then inside of that round 1 folder, we’re going to create a specific folder for each type of challenge we’re going to do. So we’re going to create a folder for personal identifiers. We’re going to create a folder for hard inquiries. We’re going to create a folder for negative accounts inside of that folder. Now, if we have additional type of challenges, we’re going to be sending out such as public records, student loans, or late payments, we will also create those folders as well because again, we want to stay organized.

So give me one second. What I’m gonna do is give you an example of what I mean. So I know I just explained this to you verbally, but I’m going to show you specifically how I would set this up and you should be able to see my screen. I’ve got it pulled up right here. So again, we’re going to go over to our good old trustees credit report folder, trustee report folder, and we can see all of our stuff that we’ve already done. So notice, I’ve created the challenge letters folder, and then I’ve created my round 1. And then inside of the round 1, I’ve created my specific challenge letter. So each challenge letter that you create, you’re going to say in this specific folder. So, and then let’s just say I’m creating my personal identifiers challenge letter. I’m going to save my personal identifiers challenge letter inside of my personal identifiers folder. And I’m going to name it as TransUnion, if it’s for my TransUnion, my Experian, my Equifax so on and so forth, because this is going to help us save a lot of time, but that’s it. So this is an action, action-oriented week. Take action. I will see you in the next challenge. And also, the next video where I’m breaking down exactly the specific ID documents you need to have when going through this process.