Understanding Credit Day 2

Take control of your credit report, make necessary disputes or corrections, & increase your participation in the investing world.


Eric Counts

Eric is an author, business trainer and nationally featured speaker. His extensive knowledge of credit and credit repair have gained him audiences with the likes of Wells Fargo, Regions Bank and Century 21 branches across the country. He is the President/CEO of CreditNerds and has served as an expert witness to lawmakers in the matters of credit and debt collection. Now he applies that same information to help you qualify for lending assistance and get busy building your investment portfolio.


The master of credit, expert credit witness, credit consultant and the CEO and founder of Credit Nerds Credit Repair, Eric guides us smoothly through the credit dispute process. Understand your rights as a debtor and the how you can legally dispute incorrect information on your credit reports. Eric shares 12 tactics to help repair your credit, eliminate reporting errors and maximize your borrowing power as a credit consumer. From basic credit bureau disputes to proof of contract and debt validation, this course has the information you need to repair your credit and increase your buying power.

  • 1


    Take this quick pre-assessment to see how much you already know to measure your improvement.

  • 2

    Introduction of Course and Instructor

    Our instructor, Eric Counts emphasizes that this course is not legal or financial counsel, though it does provide details about the credit systems, enabling viewers to make more informed decisions.

  • 3

    Course Recap

    This course is Day 2 of our credit-related courses. Eric summarizes the important points of Understanding Credit Day 1 that will be applied in this class.

  • Show all 34 segments

    • 4

      Let's Build the RenatuScore

      The class is involved in creating a scoring system, in order to increase knowledge of credit scores and predictability.

    • 5


      Which consumers are likely to buy rubber ducks? The instructors and class discuss factors that may be indicators of likely purchasers.

    • 6

      Scale Factors

      Understand how to quantify the factors involved in creating the scoring model, their importance and measurability.

    • 7

      Quantifiable Facts from the Past and Attachment

      The class continues its exploration of the the rubber duck scoring model, as part of the examination of the credit scoring system.

    • 8


      Learn how purchase history can be scored and weighed in the model being created and how it applies to final score.

    • 9

      History Part Two

      Eric demonstrates reading a gains chart showing how statistics are used to narrow down a field of loan applicants.

    • 10

      Testing the Model Question and Answer

      Know how the statistics and graphs that lenders can access will affect their decision to approve or decline.

    • 11

      The Candy Bowl Analogy Recap

      What does a bowl full of candy have to do with a GINI coefficient and how scorers determine who is not acceptable.

    • 12

      Recap and the GINI Coefficient

      Eric explains how scoring models are adjusted after testing, to be as predictable as possible.

    • 13

      Credit Reports and Examples

      A sample credit report from Experian is used to share with the class the breakdown and organization of information.

    • 14

      Dates, Limits, and Purchasing Power

      The course continues to examine a sample credit report and the terms you need to know about your accounts and collections.

    • 15

      Credit Repair and Disputes

      What is the definition of credit repair and how much can you really do to change your credit reports?

    • 16

      Credit Repair and Disputes

      Topics such as missing accounts, HELOCs and deceptive credit disputes are covered in this segment.

    • 17

      Closes and Requests

      What is the difference between accounts closed at consumer's request and closed at grantor's request?

    • 18

      Credit Report Examples and Terminology

      Learn how scorecards function and how removing a bankruptcy may lower your score, because of the group of people to whom you are compared.

    • 19

      Freezing a Report and Fraud Alerts

      Are the effects of freezing a report really what you expected? When is it worth taking that step and when are other options, such as initial or extended fraud alerts?

    • 20

      Your Rights in the Credit Dispute Process

      Eric discusses the Fair Credit Reporting Act, the cases of disputed accuracy, reinvestigation, and the rights of individuals.

    • 21

      Reinvestigation Requirements

      What constitutes completeness of information and a reasonable revinvestigation. Eric breaks down this complex document into digestible pieces.

    • 22

      Prompt Notice of Dispute to Furnisher of Information

      Discussion of credit reports continues, with Eric pointing out exactly what is required of the credit reporting bureaus and the consumers.

    • 23

      E-OSCAR and Errors On My Report

      Eric dives into the flaws and limitations of the E-OSCAR system, and when to involve an attorney.

    • 24

      Consumer Protection and Fixing the Problem

      Learn the difference between suppression and deletion of inaccuracies, and why reappearance of inaccuracies can occur.

    • 25

      Disputes and Deletes

      Continue learning the intricacies of the disputing process and why the online option may be more harmful than helpful.

    • 26

      Credit Errors Question and Answer

      Questions from the audience prompt a discussion of the dispute process and how to make it as functional as possible.

    • 27

      What to Look Out For

      Know how to recognize illegal, misleading or fraudulent credit repair offers and what you can legally do.

    • 28

      What to Look Out for Scenario

      A class member is included in a role-playing scenario to demonstrate a possibilities of a common scam.

    • 29

      Is your Collection Agency Legit?

      Understand the value of debt validation, and what it includes, in protecting your finances and your credit.

    • 30


      This protection is a powerful tool that is often used fraudulently. Know how and when to correctly implement this process.

    • 31

      Phone Calls and Recordings

      Legitimate businesses will allow you to receive confirmation through paper mail or email, not rely completely on communication via phone.

    • 32

      Settle for Less and Question and Answer

      Eric talks about your options when an account has been sent to collections and how those steps will affect your future credit.

    • 33

      Applying and Final Thoughts

      What is an application score and how is it used as a preliminary step to pulling a credit report?

    • 34


      How much have you learned? Take this quick assessment to see if there are any segments you want to review.

  • 34


    How much have you learned? Take this quick assessment to see if there are any segments you want to review.