05 Nov 2018

Excellent credit repair and tradelines questions and answers

Over the years, our clients have asked different questions concerning tradelines and credit repair. We took four of those questions from our forum and consolidated them here.

22 DEC 2013

WILL TRADELINES WORK WITH CHARGED OFF AND UNSETTLED ACCOUNTS?

 December 22, 2013    Visitor    Credit Repair     

When people ask questions like “will X happen if I buy tradelines,” it forces us to make statements for which the Federal Trade Commission may want to punch us in the face (legally speaking), because:

tradelines and collections and chargeoffs

So, since we can’t predict the future, especially since we haven’t see your particular credit report, I am going to preface my answer with one huge it depends.

At the end of the day, your credit score will increase if adding positive tradelines to your credit report is the only thing that changes about your credit report (ruling out new negative items, like missed payments, new collections, etc.). There’s nothing that can change that. However, you can mitigate this benefit in many ways, such as:

  • missing payments on current accounts when the trade lines hit
  • going into collection when the trade lines report
  • getting an account thrown into charge-off status right when the tradelines appear

These negative items, among others, usually require credit repair prior to adding tradelines. So, the real question is will a particular tradeline or group of tradelines increase your score so much that the negative impact from charge-off or unsettled accounts is not economically significant?

With that rephrased question, the only answer is possible after a thorough credit report analysis of your credit report, because no charge-off collection account is the same and will have different impacts on your credit score depending on a multitude of factors. For example, how old was the collection, what was the date of last activity, was it paid off or not, was it settled for less than the full amount, etc. Depending on the answers to those questions, the collection or charge-off account will have different impacts on your credit score.

Only until you answer those questions can we determine whether trade lines will help.

You should reach out to us for full credit report analysis for a reliable answer to this question rather than a general hypothetical one. We look forward to speaking with you.

4 THOUGHTS ON “WILL TRADELINES WORK WITH CHARGED OFF AND UNSETTLED ACCOUNTS?”

  1. Russell says:

    Hi,

    Will trade lines work with various charge-offs, and while those charges-offs are not paid off nor settled? Also what is your recommendation?

    Thanks,

    Russell

    Reply
  2. Robert says:

    Russell,

    Like many things in credit and credit restoration, it depends. Actually, I think you could answer 99% of [credit related questions][1] with “it depends”, so I am going to add some factors to your question so I can give you some real answers.

    The first part of your question is [will tradelines “work”][2]? The reason it depends is that you could have a 400 credit score, looking for a 720 mid score to qualify for some exclusive line of credit. In that case, it’s probably [not going to work][3]. But, depending on the next factor, it could…

    You mentioned the active existence of unpaid charge off accounts. This could be the worst thing on your file or irrelevant. The most important thing to consider about charge offs is how recent and actively they report. If it just reported last week, even if the amount is $1.00, it is killing your score. We had a client, with otherwise perfect credit, with one medical collection for $76.00 and his score dropped from 788 to 598. On the other hand, we work with clients all the time that have negative items such as charge offs, collections, late payments, etc. The trick is finding that sweet spot between a recent account that must be handled and an older account that is not actively being pursued or reported to the credit bureaus.

    I know I answered your questions with a bunch of hypothetical topics, but I would have not problem looking at your specific situation in more detail. I suppose the best way would be to schedule a time to speak and get a recent three bureau credit report so we can review it with you.

    You can call us at 800 431 4741 or email us at info@superiortradelines.com

    Thanks,

    [1]: https://superiortradelines.com/tradelines/how-do-tradelines-work/
    [2]: https://superiortradelines.com/tradelines/do-tradelines-work/

    Reply
  3. Sandra Melendez says:

    I have 3 charge offs that has been paid out and a bankruptcy. Can I get tradelines and not having to worry about my situation.

    Reply

21 NOV 2013

WHAT IS A CREDIT SWEEP?

 November 21, 2013    Visitor    

A credit sweep is a combination of words designed to make you think difficult things are easier than they are. For example, do you want to fix your credit or have it fixed? One of those implies you do it one of those apply someone else does it. Do you want to go through a credit repair process or do you want your credit sweep? One of those sounds like a lot of work and time and energy and money and the other sounds like a click of a button.
A credit sweep doesn’t exist. It simply a marketing gimmick designed by someone who wants to imply credit repair is easier than it is. I should clarify that credit sweeps do not exist legally. There are people who would gain access to the ability to do rapid resource and EOSCAR transactions and will illegally delete items from your credit report. But, this is not only fraudulent but shortsighted. Suppose I can click a button and delete a collection account from your credit report. Well, that creditor is been reported next month anyway and is gonna pop right back on.
So the answer to your question is that credit sweep is nothing and you should pay no attention. If you’re looking for credit repair, the market is saturated and filled with everything from scammers to people who dedicated their life to the industry. During your search for credit repair companies, use your brain and user got. If they offer credit sweeps, do not hire them.

3 THOUGHTS ON “WHAT IS A CREDIT SWEEP?”

  1. Mike says:

    Does your company do credit sweeps to remove negative items, in addition to tradelines?

    Reply
  2. Robert says:

    Mike,

    Thanks for the question about credit sweeps. The quick answer is “No.” But, you should know that our opinion is that no one can do credit sweeps. In addition, we wrote an entire article about some of the [credit enhancement techniques][1] that we feel are total scams and “products” or “services” we feel are a [mistake for clients][2] to use. Specifically about credit sweeps, we wrote:

    ![enter image description here][3]

    The bottom line is, there is no such thing as a credit sweep. To the extent there is, it’s either illegal or a buzz word used to make typical and conventional [credit repair][4] sound better than it is.

    I know this was a little outside the scope of your question about whether or not Superior Tradelines, LLC does credit sweeps, and of course that answer is “no”, but I wanted make sure you are aware that “credit sweeps” are simply a fiction. We’ve been in the credit business for many, many years and if we knew someone capable of using a magic eraser on credit reports, our only problem would be picking which color we want on our Lamborghini. ?

    I hope that helps and if you have any other questions I’d be more than happy to help.

    Thanks,

    [1]: https://superiortradelines.com
    [2]: https://superiortradelines.com/tradelines/buying-tradelines-mistakes/
    [3]: https://superiortradelines.com/wp-content/uploads/2013/09/credt-sweeps.jpg
    [4]: http://creditrepairconnection.com

  3. Kate says:

    Hello Mike!

    Thank you so much for your question. Our company does not provide “credit sweep” services nor can recommend a company that does do that.

    Even though we have already written a few articles on this subject, I am very glad to have you have reached out to us with this question.

    Lately I have been seeing more and more companies and individuals pop up on social networking sites and blogs claiming they can do a “credit sweep” and “wipe out” ***all*** negative items from your credit report. However, after you look into those “companies” or individuals, and do some research on them, you will notice that there is not a single company that has been around for a while or, to be more specific, for more than 3-6 months. Companies like that pop out of nowhere, claim they have so much experience in performing so called “credit sweeps”, promise all negative items will be removed from your report in about 45 days (some even say ridiculous things like “5 days” or even “24 hours”), take your money, possibly showing something that looks like “negative items have disappeared from your report”, but in reality the only thing that vanishes is the company and your money.

    Unless you are actually going through a credit repair, and the items are challenged and legitimately removed by creditors and/or credit bureaus themselves, all those items that have magically disappeared from your report through a “credit sweep” process, will be right back on your report within 30-45 days.

    I think the idea of a possibility of having items simply erased from your credit report should be concerning to anyone. If this was a possibility at all, the whole “credit scoring” concept would not hold as much value in lending industry, and FICO would go out of business, wouldn’t you agree?

    Regardless of what you will choose as your credit repair route, please do your research and make wise decisions. As always, you could reach out to us and we’d be more than happy to help you with that.

    Thank you!

    Kate

     

18 JAN 2014

SHOUDN’T I DO CREDIT REPAIR BEFORE TRADELINES?

 January 18, 2014    Visitor      

You might think nothing of your question, but it is music to our ears. Yes, trade lines are powerful. And yes, your credit score is going to increase the matter what. But as we explained before, any increase is not sufficient when you need a particular increase. The biggest problem we face in the trade line industry is the current credit situation of the client. Meaning, if the client’s credit report has too many negative items, we actually recommend credit repair first so that the impact of trade lines will be fully realized.

Most questions concerning trade lines can be answered with the words “it depends.” Your question absolutely falls into that category. Whether you should engage in credit repair services prior to adding trade lines depends totally on what’s in your credit report. In addition, it depends on the critical you’re trying to achieve. I know that’s very general, but that’s the best I can do without performing full credit report analysis.

You should also consider threshold matters, such as whether a negative account like a collection is large enough to be an automatic denial of a loan you seek. In those types of situations, you just have to do credit repair or debt settlement prior to adding trade lines, because even if the trade lines work in your score shoot through the roof, you’d still get denied for the loan.

2 THOUGHTS ON “SHOUDN’T I DO CREDIT REPAIR BEFORE TRADELINES?”

  1. James jones says:

    I’m pretty sure I am not ready for trade lines at this point. I believe I need to take care of some negative items on my credit report. Is this a service you provide? I didn’t see anything about credit repair on your site, but just trade lines. If you do not provide credit repair, could you please recommend a company or professional qualified in credit repair. Preferably someone you’ve worked with and has verifiable results.

    Thanks,

    James

    Reply
  2. Robert says:

    James,

    Thanks for the question about tradelines and credit repair. I can appreciate the fact that you are concerned with negative items. A lot of people have the misunderstanding that you can simply add tradelines to fix negatives. This isn’t the case. Tradelines boost scores, but if you have substantial negative items, your potential boost from tradelines will be negatively impacted.

    As far as credit repair, or the systematic dispute process employed to remove outdated, unverifiable or inaccurate information in your credit report, we do not conduct credit repair. We specialize in tradelines and remain committed to that field, only. However, we recommend all of our credit repair clients to CreditRepairConnection.com.

    Credit Repair Connection is a marketplace website that actually makes a bunch of really [good credit repair companies][1] submit bids to you. So, you’re picking from a ground of highly qualified credit repair companies. You can sort them by years in business, specialty, staff, price, etc. You should check that out.

    Oh, the best part is that Credit Repair Connection is absolutely free. Well, finding the company is free. You’ll still have to pay the company to conduct credit repair. It’s just a great resource. If it works out for you, please don’t forget about us ?

    You can sign up with credit repair connection.

    Come back and get your tradelines from us when you are ready.

    Thanks,

     

28 MAY 2014

CAN OR SHOULD YOU ADD TRADELINES DURING THE PENDENCY OF A DISPUTE?

 May 28, 2014    Visitor    Credit Repair     

Not to be all esoteric, but the question “should” implies that there are other factors aside from the initial question posed. Nevertheless, I will answer your question. If you add tradelines during the pendency of a dispute at the credit bureaus, nothing changes in terms of that specific process. So can you or should you has little to do with adding authorized user trade lines to your credit report.

Here’s what’s important to know. When you dispute an item and when not dispute meets the fair credit reporting act standards, the disputed item has no effect on your credit report (during dispute). So, when you dispute an item, your scores going to shoot up. If you add trade lines during that time, your scores going to shoot up again. Suppose the disputed item is returned as a verified it once again actively reports. It’s going to bring down your score. But that has nothing to do with the fact that your score increased when you added the season trade lines.

disputes and tradelines

So there could be a situation in which we do what we said in your scores increase but that your score would decrease when the disputed item reports after the credit bureaus verify its authenticity or accuracy.

With all that being said, I would suggest that you add trade lines only if you think they will put you in a position to benefit from the score increase with the assumption that the disputed item is going to come back as verified. If it comes back as deleted, you’re only in a better position. In other words, prepare for the worst.

2 THOUGHTS ON “CAN OR SHOULD YOU ADD TRADELINES DURING THE PENDENCY OF A DISPUTE?”

  1. You mentioned on the phone that you should not or could not add tradelines if I currently have active disputes with the credit bureaus. Can you please explain why not? I don’t mind getting the ball rolling before the dispute ends, so long as I have a benefit from the tradeline after the dispute is over. Maybe I’m over thinking ha ha

    Thomas

  2. Hey Thomas, it’s not that you’re over thinking, it’s that there are arbitrary underwriting policies that you are unaware of; so, it’s more that you’re making reasonable assumptions in an unreasonable world of credit and finance.

    First, we will not (not cannot) add tradelines until all disputes with the credit bureaus or creditors are resolved.

    Here’s the problem with your proposal and why we do not add tradelines while you have active disputes pending:

    When you initiate a dispute, it is not counted or factored in your credit score during the dispute duration. In that regard, you credit score goes up (temporarily). As a result, nearly all underwriters have employed the practice of waiting until a dispute is resolved (either favorably or unfavorably) so that they have a more accurate representation of your credit worthiness. If we added tradelines and an underwriter wouldn’t even look at your file, well, they’re not looking at your new tradeline either. The net result, adding tradelines during active credit disputes is a waste of time and money.

    Therefore, it’s not that we “will not help you during a dispute”, it’s that “we will not allow you to waste money” by adding tradelines during a dispute.

    You are better off waiting until the dispute is resolved. Then add tradelines. You should also consider the likelihood of your dispute success. If you are throwing darts blindfolded, you might want to reconsider and just move forward without the disputing. This is what I mean: If your negative account is under 6 months old and more than $500.00, it’s not coming off anytime soon; you have a 30% chance of removing it. If your negative account is between 6 months and 24 months, there’s a 50% chance you’ll be successful in deleting it. If your negative account more than 24 months old, you have 70% chance of prevailing with your legal challenge. These are in-house statistics based on discussions with extreme veteran credit repair companies.

    I hope that helps.

    Let me know if you have any other questions.

    Thanks,

    Robbie

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