Short Sale Credit Repair - How to Remove Short Sales From Your Credit Report

As most of you know, short sales do negatively affect your credit. With regard to your FICO Scores, the credit ramifications are very similar to that of a foreclosure. In fact, the largest difference between the two on your credit report is the ability to obtain a mortgage. After a short sale, it is possible to obtain a mortgage in as little as 24 months (or even sooner, more on this later) whereas with a foreclosure, it typically takes 3-7 years for people to qualify for a home mortgage.

Moreover, if you've gone through any of the above scenarios, most likely your credit report is riddled with 30/60/90 day late payments which further reduces your FICO score, especially 90 day late payments (which has often been said to be as bad as a short sale or foreclosure itself).

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So here is the question of the day:

Short Sale Credit Repair - How to Remove Short Sales From Your Credit Report

Can Short Sale Credit Repair & Foreclosure Credit Repair Companies truly REMOVE these items from your credit report?

Many believe that this is not possible simply because of the fact that the items are negative. Well, as a nationally recognized short sale expert, I am here to tell you that this is far from the truth.

Within the Fair Credit Reporting Act, there exists a loophole that attorneys have taken advantage of for years on behalf of their clients. The key to removing negative items from your credit report is not to question the accuracy of the items, but rather, how verifiable the items are, according to FCRA requirements.

This is not something that people should try on their own. There is a specific list of items that must be documented in the event of these kind of disputes, and without proper knowledge of what these items are, creditors will not take you seriously. This is why attorneys are best known for this line of work. There are multiple, virtually unknown resources out there that have been proven to reduce & eliminate the typical consequences of a short sale & foreclosure. I highly suggest taking advantage of these built in "short-cuts" within our system.

Short Sale Credit Repair - How to Remove Short Sales From Your Credit Report

For more information on how this all works, feel free to check out my blog post by clicking the following link:

On Credit Repair

Kevin Kim is author of and founder of Short Sail Solutions, LLC, one of the largest team of short sale negotiators in the nation, with multiple offices in 13 states.

Sample Dispute Letter For the Credit Bureaus - Equifax, Transunion and Experian

Writing a letter to the credit bureaus is the first and most important step to repairing your credit. When writing to the credit bureaus you will have to write a letter to each bureau per negative and/or incorrect item.

An example of a situation in which you would have to write a credit repair letter to the credit bureau(s) is if you are analyzing your credit report and you see accounts that are closed, negative, and more than seven years old. According to the Fair Credit Reporting Act, accounts that are older than seven years must be deleted from your account.

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Remember when you write a letter to the credit bureau you want it to be yours. Copy and pasting a letter from another website is not recommended! A sample of a good credit repair letter looks like this:

Sample Dispute Letter For the Credit Bureaus - Equifax, Transunion and Experian

Equifax Consumer Services

To Whom it may Concern,

Good Afternoon my Name is First Last. My address is 9999 Address street, City, State. My SSN 999-99-9999 and my birth date is January 01, 1900.

I have critically analyzed a copy of my credit report and I noticed that there are two accounts on my report have been closed for seven years. As you and I both know the Fair Credit Reporting Act states that accounts more than seven years old are to be deleted from my credit report.

Listed below are the details of the accounts that I mentioned above:

Bank of America MasterCard:
Account Number: XXXX-XXXX-XXXX-1745

Account Number XXXX-XXXX-XXXX-5690

In order to expedite this process I included a copy of my driver's license and social security card in case you all need proof of identity. I would also appreciate it if you would send me a copy of my updated credit report once the correction as been made.

Thank you in advance.
First Last

When sending your letter to the credit bureaus you want to include a copy of your driver's license with your letter. Please do not forget to send your letter registered mail. By doing this you allow your letter to be tracked. That way you have proof when it was received by the credit bureaus.

Sample Dispute Letter For the Credit Bureaus - Equifax, Transunion and Experian

Visit self credit repair to learn how to raise your credit score by 50 or more points to get approved for cars, and home loans on credit!

How to Remove Negative Items on Your Credit Report

Negative Paid Accounts

Unfortunately, you have no leverage in this case as the creditor has already been paid their money. The best strategy for accounts which were paid off a great while back and now just show up as a "Paid Charge-Off' or "Paid Collection Account" is to find something wrong in the reporting of the information so that you can initiate a reinvestigation for verification. The hope is that the accounts (now being an inactive paid account) may be stored on electronic files not in the main system of the creditor.

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This might create more work as far as research than the creditor wants to pursue just for
verification purposes. If so, the account must be deleted from your file for lack of a response from that creditor. The effectiveness of this method is hard to determine. It is as varied as the number of data storage systems in use today and the variety of people overseeing the process.

How to Remove Negative Items on Your Credit Report

I have heard about using the term: ESTOPPEL in some cases. What I have read is this: The creditor has already been paid and the consumer makes the claim that, when the debt was paid, the consumer was under the impression that the creditor would make a favorable entry on the consumer's credit report. BUT, when the credit report showed a PAID COLLECTION, this damaged the consumer's credit rating. So, the consumer files a lawsuit claiming damages.

The logic to this is that because the creditor already has the funds, what more can they gain by defending this lawsuit. Especially, if they are in another town. So, the creditor either loses by default or succumbs to the consumers demands. Personally, I think that this type of action requires guidance from your trusted attorney.

Old Delinquent Accounts:


This has long been probably the most unfair provision in the FCRA. The original 1970 law allows for a seven-year waiting period before negative collection accounts were automatically removed. This is referred to in Section 605(a)(4) "Accounts placed for collection or charged to profit and loss which antedate the report by more than seven years."

That seven-year clock begins ticking from the time reported as the last activity. If you have an account that never was fully paid, that you have not made a payment on in five or six years, beware!

If you go make a payment on it now, you will restart that clock and have to wait another seven years for it to be removed. There is a distinct wording in Section 623(a)(5) of the Fair Credit Reporting Act that reads "the seven year period of reporting derogatory entries begins when an account is FIRST late and never get caught up. That is fact and there have been numerous court cases where Collection Agencies have been fined millions of dollars for violating this statute.

Confused, guess what? So is the system. BUT, you can rest assure that when a collector or mortgage broker tells you that by paying on an account you restart the seven year clock, that is hogwash. It begins when the account was first late and NEVER gets caught up. It is directly identified in Section 623(a)(5) of the Fair Credit Reporting Act.

Is it fair to be sentenced to seven years in a credit prison only to have your sentence increased for good behavior? I don't think so!
As you can see, in some cases, you may have to make a decision whether to live with a charge-off for another year, or, a paid charge-off for seven more years. A paid charge-off will trigger a credit denial almost as easily as one that hasn't been paid. It's a shame that our system provides no more incentive to pay these old debts.

Credit Fraud

How do you know if you are a victim of credit fraud? The signs can vary, but typical indicators of fraud include: Unusual purchases appearing on credit card bills

· Calls or letters advising that you've been approved (or denied) for credit for which you've never applied.

· Calls or letters from collection agency about accounts you don't have.

· Or you suddenly stop receiving your credit card bills, or all of your mail

Even though you didn't cause the problem, your credit is adversely affected. As with any other crime, as soon as you know or suspect that you are the victim of credit fraud, you should contact that creditor's fraud department and FILE A POLICE REPORT. You must advise the creditors of the fraud. Remember, the criminal may have used your identification to open the account, so the creditor may have no knowledge of the fraud until you report it. In order to establish the crime and to identify and possibly prosecute the criminal, creditors may ask you to complete certain paperwork.

Additionally, the bureaus have fraud departments to review cases and assist you, however assistance has not always been forth coming.

How to Remove Negative Items on Your Credit Report

Regis Sauger is a licensed Mortgage Broker in Florida, an author, lecturer on credit awareness. He has conducted seminars for underwriters, attorneys, mortgage lenders, realtors and the general public.

How to Deal With Midland Funding LLC

Midland Funding LLC is a collection agency which purchases debts from banks & creditors and then tries to collect them with their own plans and techniques. It is not easy for ordinary humans to deal with Midland Funding LLC because people are not trained to tackle collection agencies like Midland. Discussed below are some useful ways which are helpful for individuals to deal with the issues raised by Midland Funding LLC.

Fair Credit Reporting Act instructs them to not contact consumers for the debts which have reached the expiration age according to FCRA. Whenever collection agency would violate this law then they would get into troubles as consumer does carry the right to sue them for contacting them at this moment of time. They wipe out debts which age more than seven years and in some cases 10 years.

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Sometimes Midland Funding LLC comes in contact with you for the debts which do not have any relation with you. If you are not sure about the ownership of debts then legally you could ask credit firm to validate your debts. The validation process would help you to get the true picture oft debts to determine whether they belong to you or not. In the case of failure to validate your debts, collection agency would have to withdraw because they do not have any evidence to ask you for the debts.

How to Deal With Midland Funding LLC

But in cases, where collection agency provides you all evidences which prove your debt ownership then you may negotiate with credit firm on payment or settlement agreements. Try to mould collection agency on pay for delete settlement. Pay for delete is an ideal option because it would not only help you to get rid of debt hassles but would also be helpful to improve your credit score. If Midland becomes agree on this agreement, at that time bring all agreement in writing to obtain proofs of your agreement.

How to Deal With Midland Funding LLC

For help removing credit report collections, dial: 1-866-246-7311. Learn more about midland funding and visit for more information.

Cashless Transactions - The Most Convenient Way of Making Payments

The recent studies of consumer behavior show immense increase in use of cashless transactions. Yes nowadays more and more people are dependent on their Credit Cards or ATM/Debit Cards for making different types of payments.

Why People Are Going Cashless?

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This is an important question, but the answer is very simple. Ask any of the shopping geeks or a frequent traveler, or even an average common man, they will explain the benefits of going cashless. There are many advantages of carrying Plastic Money rather than cash. You don't have fear of theft, loot or losing cash in hurry while opening your wallet. Apart from that it's not possible to pay huge amounts by cash (like when purchasing a car or while in Casinos). You need an alternate solution for all such problems and the only solution is your credit cards or debit cards that help you in dealing out all these cash related problems.

Cashless Transactions - The Most Convenient Way of Making Payments

ATM Card Payments - Going Ahead of Credit Cards

Some surveys done by economic agencies reveal that nowadays people use their ATM's cards more often rather than using credit cards on every occasion. The reason is credit crunch facing by companies offering credit card due to economic slowdowns. Several credit card services providers reduced the credit limit of their customers. One more reason is fear of overspending through credit cards.

Buy today and pay later principle was very popular all around United States during last few years. However, now people understand the value of their earnings and savings. A majority of people are no longer interested in this following that rule of buy today and pay later. So, such sensible customers are using their ATM cards for making payments.

Popularity of Cashless ATM's Among Merchants

You must have used credit card processing machines at grocery stores, gas stations, or in Hotels and Restaurants. Merchants and business owners used to keep different credit cards processing machines for VISA, MasterCard, American Express, and Discover credit cards. Now they are switching to cashless ATM's to provide convenience to their customers. Merchants have understood that installing a Cashless ATM at their stores will not only provide facility of using their ATM cards more freely to their customers but it will also help in increasing their sales and profits more and more every day.

This change in shopping behavior of consumers and transaction processing mechanism provided by merchants is of mutual benefit for both consumers and merchants. This is soon going to be a global trend in processing payments.

Cashless Transactions - The Most Convenient Way of Making Payments

For More Information Please visit:

Prepaid Business Credit Cards

Prepaid business credit cards are a new generation of credit cards that are becoming increasingly popular amongst individuals and businesses alike. There are many advantages to using a prepaid card, so if you have yet to find a business credit card solution to suit you then here are some ideas about why prepaid cards could be the answer.

What Are Prepaid Cards?

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Prepaid business credit cards work just like credit cards. Instead of being forced to carry around large sums of cash, you can make purchases (large or small) using your credit card. You can use this anywhere where you would use a traditional credit card, and you will enter your PIN number as if you were using a normal credit card. What is the difference? The fact that you are not spending money that is credited to you, because you are spending money that you have already paid into your account in advance (much like a debit card, but branded as a credit card).

Prepaid Business Credit Cards

The Benefits of Prepaid Credit Cards for Business

Many business like to make large purchases, so prepaid credit cards avoid the hassle of carrying around cash and offer a solution just like a regular credit card. They help in keeping track of the business funds and spending. This means you will never overdraw on your business account and never encounter interest rates, which is a big bonus!

Prepaid business credit cards are not suitable for all business, but in many cases they could save you a lot of money. All it takes is to ask the credit card issuers to see if that have a prepaid option available.

Prepaid Business Credit Cards

Find the BEST prepaid business credit cards [] at the authors credit card website by clicking here [].