FAQs

All Cool Credit customers will be provided with user credentials for their personal portal. Clients will receive regular updates and be able to easily track their progress through their unique dashboard and portal.
Answering that question is difficult. If you've achieved your credit goals or feel confident that your credit report is fair, accurate, and supported, you may no longer require credit repair. You can always contact us to discontinue your service if you feel you've gotten to that point.
While most places that offer credit repair services are not a scam, be wary of any company that provides guarantees of results, or charges you up-front for credit repair services. Not only is that illegal, it is a red flag that something suspicious may be going on.
Cool Credit and Credit boost accepts payments by ACH, credit card, or by automatic draft from your checking account.
Providing the best service possible is a top priority at Cool Credit, and if we aren’t meeting your expectations or you no longer need our service, you can cancel at any time. Just remember, credit repair isn’t going to happen overnight. To do so, you can cancel your agreement at any time in writing and submitting to support@coolcredit.com
A charge-off can remain on your credit report for up to seven years from the date of the first late payment that led to default.
Depending upon the type of bankruptcy, it might stay on your credit report for up to a decade. The Fair Credit Reporting Act (FCRA) outlines the credit reporting limitations for bankruptcies.
Cool Credit can help you understand what should and shouldn’t be on your credit report and share tactics that may help you get incorrectly reported late payments removed.
It is your right and responsibility to assure the accuracy of the items on your credit reports. If information recorded on your credit reports does not accurately represent your behavior as a consumer, then you have the right to request that questionable information be removed from your reports. The Fair Credit Reporting Act (FCRA), Fair Credit Billing Act (FCBA) and the Fair Debt Collections Practices Act (FDCPA) afford you the legal right to dispute inaccurate items on your credit reports with the credit bureaus and your individual creditors.
YES. It is your responsibility to protect your credit while we are working on your history. If you add new damage to your credit report, you will be working against us.
You might think so, but unfortunately it does not. When you pay an old debt, the negative credit item doesn’t disappear, but is typically listed as a paid delinquency, charge-off or collection. If your goal is to repair your credit, just paying off your debts won’t get you there. Repairing bad credit is a significant challenge for most consumers and we're here to help.
Unfortunately, credit repair is never guaranteed. What we can guarantee is that we will do everything in our power to help you achieve a fair, accurate and substantiated credit report.
Considering that our average client uses our services for six months, the sooner the better. Especially if you plan on purchasing a home or car within the next year, getting started today can save you a big headache tomorrow.
Unless the collection is being falsely attributed to you, pay it. The collection is likely already hurting your credit score, and leaving it unpaid will only make the damage worse. If the debt is one that you do not owe, our service levels offer debt validation procedures that can help you get the collection removed from your credit profile.
Yes. When someone takes out debt in your name, it increases your debt utilization ratio and will likely lead to missed payments and possibly collections appearing on your credit. Even after you’ve recovered your identity, these issues could still be lurking on your credit report.
According to CreditCards.com1 and CNNMoney2, even a single negative item on your credit could cost you over 100 points.

Equifax3 states that a negative item for late payment can reduce your credit score by up to 110 points.
Debt Settlement is up to 125 points
Foreclosure up to 160 points
Bankruptcy up to 240 points
Collection up to 110 points
Hard inquiry is up to 15 points.

Sources:
1) https://www.creditcards.com/credit-card-news/fico-credit-score-points-mistakes-1270.ph
2) https://money.cnn.com/2010/04/22/real_estate/foreclosure_credit_score/
3) https://blog.equifax.com/credit/can-one-late-payment-affect-my-credit-score/

Any negative item that is inaccurate, unfair or unverified can be challenged with the bureaus and your creditors. This includes collections, late payments, charge-offs, liens, bankruptcies, repossessions and more.
A negative item on your credit is anything in your credit history that could lower your score. It includes things like collections, late payments, charge-offs, liens, bankruptcies, repossessions and more. Especially if these negative items came as a result of identity theft, divorce, medical debt, student debt or military leave, you may be able to remove them through credit repair.
Yes—you have a legitimate and legal right to a fair, accurate and substantiated credit report. Credit repair is simply the process of challenging and disputing questionable negative items on your report to ensure those three standards are met—fairness, accuracy and substantiation. While there are many laws that apply to your credit, the Credit Repair Organizations Act (CROA) and Fair Credit Reporting Act (FCRA) are the two laws we leverage the most.
The credit bureaus and your creditors are required by law to remove any negative items on your report that they can’t prove are accurate, fair and substantiated. When these items are deleted from your payment history, we call that a removal.

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