The Most Common Questions
WHAT CAN YOU DELETE?
We can delete anything. We delete bankruptcies, foreclosures, short sales, collections, charge-offs, student loans. If it appears on a credit report, we can delete it.
HOW DO YOU DELETE THESE?
By using the law!
There are multiple laws that dictate to creditors and credit bureaus how they MUST behave. They have a strict set of reporting standards. Most of which come from the Fair Credit Reporting Act of 1972.
Without these rules, anybody could report anything. I could just sign up with the bureaus, prove I’m creditable, then tell them that you owe me $100,000. Does that mean you owe me $100,000? No, of course not.
So there are very specific rules on record keeping and reporting that the bureaus must keep. However, almost none of them are following the rules correctly. There are too many rules and these companies are generally too big….or too small.
For the small companies, they don’t have the manpower. They just buy your bad debts. Send you threatening letters and call you a bunch. Then hope to get a good enough % of the money back. So they don’t have enough staff to be able to provide the avalanche of records requests we are going to make them send.
Or the companies are too big. The record maintenance aspect is too daunting. It’s like saying to McDonald’s “I don’t think I bought that $7 meal 5 years ago, show me the receipt!!” Are they really going to go find the receipt? Probably not. It’s less work to say “Give them the $7.”
Plus, when we are fighting with the credit bureaus - you don’t actually owe them any money! So how much $$ are they going to spend to fight?
Because here’s the thing: The laws driving the credit bureaus were written in 1972. And never officially changed. So they say that the bureaus must be able to provide ORIGINAL documents to prove your debt. And of course the convention has gone over to computers.
However, the law says that they must have physical proof with original signatures. And we remind them of that. And assure them that we know the law. And that we know that the file can exceed $5,000 per item. Also, we know how to contact the FTC and the Attorney General who will fight for our cause for free but cost them hundreds of thousands of dollars.
Since you don’t owe them any money, which route do you suppose they choose?
WHAT IF YOU DON’T DELETE THEM?
Then you don’t pay us. We have 2 programs. The first program is a PER ITEM billing plan. So, if we don’t delete anything, then you don’t pay us. We only charge you when items come off.
The Simple Value Warranty says that, after the completion of the 6 month program, we warranty that you will not pay any more than $59 per item that was deleted. Simply put, at the end of your credit repair program where you have made all of your payments and done your part of the program, you will have adequate results or we will give you money back.
As an example, if at the end of the 6 months we have only deleted 8 items you would get $127 back. Because 8 x $59 is $472 and you paid $599. However, if we delete 20 items, you do not owe us any more money and you would have only paid $29.95 per item.
I DON’T HAVE $599 RIGHT NOW.
That’s fine and we know. Been there! Which is why we offer you multiple payment plans. Check out the Pricing + Services Page for details. Don’t worry - we got you.
WHAT’S THE DEAL ON THE WARRANTY? OTHER COMPANIES DON’T DO THAT.
We are supremely confident in our ability to repair your credit. So we want you to feel comfortable with working with us to get your fresh start. And we know that companies of the past have given credit repair a bad name.
Because of those “law firms” of the past offering false promises, there is the Credit Repair Organizations Act. This says that “credit repair companies cannot promise or predict” when something will come off the credit report, what will come off, or how much it will impact the scores. (more on this in column 2)
But we do want you feel as sure as possible that Simple is Better. So we do 2 very uncommon things:
(1) We quote our success rates: They are great so why hide?
(2) Give you a warranty
With the warranty, you are assured that you will never pay us more than $59 per item deleted on any program that you actively participate in. On the per item program, we don’t bill you until we delete the item.
On the ALL YOU CAN DELETE program, the warranty covers you at the end. At the end of this 6 month credit restoration plan, you can request a refund (as long as all payments are made and you are an active participant). This Simple Value Warranty says that you can get a refund up to your full purchase price minus $59 per item that was deleted.
WHAT ARE MY RESPONSIBILITIES IN THIS PROGRAM?
Here are your requirements, in chronological order:
1. Read and complete our enrollment agreement for the program you want
2. Send us 1 item that shows your Social Security number. Social Security card is best. Can use the first page of your 1040 tax return or W2, as long as full number is present. Note: passports typically don’t have SS numbers on them
3. Send any 2 items that show your current mailing address. We can use any combination of : Drivers license, pay stub, utility bill, bank statement, cell phone bill, mortgage statement, insurance card, etc
4. If doing the 6 month program, provide us a copy of your current credit report. If you had it pulled recently, please call an authorize and request them to send to us. Otherwise, we will give you links to get them for free or $1.
5. Pay us on time. I mean, c’mon. We are fixing your credit and deleting other people you didn’t pay. At least pay us.
6. Send us credit report updates. About every 35 days you will get updated credit reports from the bureaus. They will come in your regular mail. You can scan and upload, mail, or scan and email.
CAN YOU DELETE STUDENT LOAN LATES?
Sure can. And do so often. Student loans can really mess up your credit too! Because most people seem to do consolidation loans and the governmental student loan agencies don’t do a very good job of reporting such. So many, many of our customers show twice as many student loans as they actually have.
For example, let’s say that you graduate with student loans of $5,000, $11,000, $8,000, and $4,000. Generally this will show initially as 4 loans for $28,000. Then you do a consolidation to 1 loan for $28,000. However, so many times, the bureaus don’t get updates so it looks like you have 5 loans for $56,000.
Then, you miss a payment. Sucks, right?! Well too many times the credit bureau gets hit for 5 late payments per late payment. Which is really bad.
So let’s get them deleted.
WHAT ARE YOU SUCCESS RATES?
Our 5 year average deletion rates are great. They are so good that we are about the only credit repair company who will report them. On average, across all clients and all account types, our historical deletion averages are:
47.0% on the first round
19.9% on the second round
16.82% on the third round
DOES THAT INCLUDE BIG THINGS LIKE BANKRUPTCY AND FORECLOSURE?
Yes, we can and do delete those things quite often. Home foreclosures and short sales generally fall off on the normal schedules above. Same for judgments from apartment complexes. Though those are generally a little faster to clear up.
The actually bankruptcies are the one outlier that is slower than most. Typically it seems like (though no stats to support this) that the bankruptcies itself come off a bit slower than other items. HOWEVER, there are still big gains that happen in the meantime.
Must like the student loan example above, bankruptcies tend to have an element of double reporting to them. For example, let’s say you have 10 accounts for $10,000 that are all severely delinquent. So you consolidate them into 1 bankruptcy for $100,000.
Most of the time, that will show up as 11 accounts for $200,000 of bad credit. And all of those accounts are dragging your score down like an anchor. So, while we are working on deleting the actual $100,000 bankruptcy you will be seeing huge credit score improvements by deleting the 10 other accounts.
SO YOU WILL DELETE EVERYTHING OFF MY CREDIT REPORT?
Whoa. Hold up. Big pause here. We are definitely not saying that. Because it’s illegal and unscrupulous to say that.
The Credit Repair Organizations Act dictates that “credit repair company cannot promise or predict” what items will come off, when they will come off, or how much it will change the scores. So we are definitely NOT going to do that.
There are too many variables in play. We can’t predict the score because we could delete items but new accounts could hit, your creditor could lower a credit limit, or you could have an emergency purchase on a credit card.
As far as timing goes, the speed could change based on something as simple as who gets our letter. One dispute could go to a senior person who knows what they are doing and they may fix it faster. The next could go to a new person who has to wait an ask a supervisor.
This is the reason we have our credit repair warranty and also show you our success rates. Is the max we can legally do to give you assurances.