What is Credit Repair?
Credit Repair is a journey to good credit health. While it may seem like a long and daunting task to get your credit back on track, it is well worth the effort. Good credit can save you money with lower insurance premiums, lower interest rates, and better loan terms. On the other hand, doing nothing may cost you hundreds or even thousands of dollars due to poor credit. The journey of credit repair starts by knowing where you are credit wise. After that you need to identify problem areas and work towards improving them.
Read more
What is Credit Score?
Credit scores are little more than a three-digit number to represent your creditworthiness. These scores are generated by taking the information in your credit report and plugging them in to an algorithm that calculates the weight of each item. Age of account, balance on account, available credit, and timeliness of payments are all part of the calculations made to generate a credit score. Each consumer reporting agency has its own version of the score. While a consumer can get a free score, it is not the same score a creditor will use to determine your creditworthiness.
Read more
About Credit Reports
Under the Fair Credit Reporting Act (FCRA), consumers could obtain a copy of their credit report from the reporting agencies when they were denied credit, employment, or a lease. When the Fair and Accurate Credit Transactions Act (FACT Act or FACTA) was enacted an additional option of if there was suspected fraud was included in the free credit reports. Credit reports can be obtained for a small fee as well through the credit monitoring services offered by the credit bureaus and other entities. A free credit report is offered each year through the Annualcreditreport.com…
Read more
Consumer Reporting Agencies
Consumer reporting agencies are used to determine many different things, from your creditworthiness to your reliability as a tenant, whether you are a high risk for an insurance policy or a low risk for check cashing. While many consumers are aware that there are three big national credit reporting agencies (the three major bureaus being TransUnion, Equifax, and Experian), other consumer reporting agencies report on specific aspects of your life such as your rental history, your insurance claim history, your check writing history, your medical history, your criminal record, and your employment history.
Read more
It’s the Law
Consumer credit reporting has several laws that govern how the information is to be handled, who has access to it, and how a consumer can ensure accuracy of that information, as well as other protections for consumers. The Consumer Credit Protection Act (CCPA) is the “umbrella” under which these laws are found. Title III – Restrictions on Garnishment (Title III), Fair Credit Reporting Act (FCRA), Fair Debt Collection Practices Act (FDCPA), and Truth in Lending Act (TILA) are just a few of the laws that give consumers certain protections where their financial health is concerned.
Read more
Let’s Get Started!
Getting started is pretty easy. We have even put together a few documents for you to download and fill out and return to be able to start your journey to better credit with us. The Disclosure Statement, Contract, and Initial Consultation must be returned to us. The Contract must be notarized, as should the Limited Power of Attorney (Limited Power of Attorney gives us authority to act in your stead when speaking with your creditors, debt collectors, and the credit bureaus. It is limited ONLY to matters concerning settling of debt, discussing accounts, and resolving issues with debt collectors and creditors.)
Read more
