Credit repair. It's a frequent question that many real estate agents hear from their clients: "I'd like to buy a house, but I have some problems with my credit. It really is an honest mistake but I don't know how to go about getting it cleaned up." Having bad credit can prevent you from qualifying for a loan. If it doesn't flat out prevent you from getting a loan, it will cost you many thousands of dollars in additional interest payments whether you're buying a home to live in or as an investment.
In today's episode, we welcome back our first ever repeat guest on the podcast, Dave Cole. Dave was previously a guest on the show for Episode 32, when we covered Solo 401(k) plans. Today, Dave returns to the show to talk about the state of the credit repair industry. Listen in as he gives a (very) brief history of the credit repair industry and points out how the business model that most of these services have doesn't work any more, and their customers are simply wasting their money.
Dave shares a much better approach that leverages the law to compel the credit bureaus to clean up your file if they can't produce all of the legally required documentation. It's a 60-90 day process, it costs a fraction of what you might pay a typical letter writing service and best of all, it's guaranteed.
If you want to learn more about the service, watch the webinar Dave created for it.