At one time or another most people find themselves in some type of difficulty with paying their bills on time.

For one reason or another they get behind in their bills and these late payments are reflected negatively on your credit report.

The result is that your credit score will tumble and may keep you from being able to secure a new loan.

Usually you will not be aware of this until it’s time to apply for a new mortgage or when you go to purchase a new car or secure a new credit card.

At this point you may be surprised how low your credit scores really are.

Often it’s possible to deal with legitimate mistakes and inaccurate information by yourself.

However if you have multiple bad credit accounts you are faced with a challenge where credit repair may be the best and cheapest strategy or solution.

Many people think that they must hire an attorney to help them with their situation.   And a lot of companies claim to have attorneys doing the work.

However this is simply not the case.   Most attorneys will not actually be working on your credit, they either delegate this work to lower paid employees or they simply use automated software to do the work for them.

Don’t be fooled into thinking that you are hiring an attorney when you are actually hiring a low wage employee to push a few buttons and mail form letters to the credit bureaus.  You are likely going to spend a lot of money and get little or no results.

If you find you are in need of credit improvement in order to be able to be a prudent or a new loan right now is the best time to take action.  Discuss your situation with a credit specialist who has their home office in your city.  That way you can visit them in person and avoid a lot of time, frustration and get the results you desire.

If you wish to schedule a free credit strategy session, please call 281-727-0351.

Do you think that your credit score does not matter then think again?

Your Credit scores will affect many aspects of ours lives.  That’s why it’s important to keep your score as high as possible.

Paying bill on time, and staying below you credit limits will help build and maintain your credit score. Here are some lesser-know strategies to help boost your credit score.

Fixing the Clerical errors
Checking your credit report and fixing the errors are key to help boost your score.  Here is an example, it can make a big difference to your credit score if your credit limit for a card is understated.  Let’s say that you owe $5000.00 and your limit is $15000.00.  That means you owe 33% of you limit.  You will want all your credit card balances to be 33% of the max limit.

When you fix errors or are taking actions steps that will boost your score, make sure that all three main credit-reporting agencies know about it.  You will want to pull your credit report once a year so that you can keep up on the errors.

Very few people think of simply asking for what they want. In order to help you pay down your debt more quickly, you might ask your lender to lower your interest rate.  If you have one or two late payments you can ask your lender if they can be eased, in a “goodwill deletion.” Lenders are likely to be responsive to their best customers.  If you are dealing with a collection agency over some debt, see if they will delete it from your record if you pay it off.  These are all good ways to help increase your credit score.

You will want to think twice about closing your cards.  Closing an account can actually ding your credit score.  Oddly enough a host of seemingly sensible moves can hurt it, such as using just one card for most of your charges.  You will want to have two or three cards open with charges on them.

Prevent bad marks from being added to your report.  A valuable tip for anyone selling a home for less than what they owe on it.  This is called a short sale and if you end up owing many thousands of dollars to your mortgage lender, you will want to get it in writing before the sale closes that the debt won’t go on your credit report.

If you looking for a high credit score then you will want to follow the steps above to help keep your credit sore as high as possible.

 

 

The TRUTH about Credit Repair Guarantees

I received a call today from a nice lady who really wants to put her past credit issues behind her so her and her boyfriend can buy a new home when he returns from fighting the bad guys overseas, which is really cool.

As always the discussion went really well until she asked how much the service runs. Once I told her, she just laughed and told me that she had contacted another company who charged less and GUARANTEED her the results she wanted or her MONEY BACK!

Which made me laugh.

Why?

I know the company she’s referring to and the truth is that A LOT of less than reputable credit repair companies rely on this strategy.

And it SOUNDS really good!

In fact, it SOUNDS almost TOO GOOD to be true!

Well, it turns out, that it IS and it ISN’T.

It is true, the company offers a money back guarantee. Woot!

But when you get past all of the HYPE, here’s what you discover… in the FINE PRINT.

Disclaimer: Implied or expressed guarantees do not apply; (company name removed) will honor this guarantee only: While (name) can not guarantee a complete restoration of your credit; we do guarantee and state that we will IMPROVE your credit.

If we fail to do so, we will refund your money back.

Please note: if documentation requested from you, by us for the credit repair, is not forwarded to our office or addition of new Derogatories the refund policy will be voided.

Client agrees to pay bills on time, Not paying bills on time will result in new Derogatories voiding the refund policy. No refunds are issued prior to the completion of the process.

In addition client agrees to forward all correspondence received from the three Credit Bureaus to the processing center within 14 days of receipt. Failure to do so will result in the voiding of the refund policy.

Okay, so let’s break it down…

“we do guarantee… that we will IMPROVE your credit.”

So if only ONE item on ONE report is “improved” then the guarantee no longer applies?

Yes, that’s EXACTLY what this disclaimer means.

In addition, there are a number of ways that void the guarantee so the company limits their exposure.

So, here’s the truth about credit repair guarantees… usually not worth the paper they are printed on.

So why do so many companies make such bold claims and then hide the nitty gritty deep in the print?

Well, simple… to make money.  People just assume that if they’re not happy, they’ll just get their money back.  Unfortunately, that’s not how this works.

If they make the sales today, that’s really all they care about.

It’s misleading at best.

Every guarantee I’ve ever seen is full of stipulations and limits and impossible requirements.  Heck, we offer the same limited guarantee, but I don’t promote it like it’s a 100% Satisfaction Guarantee.

Why?

Well, first I’ve never had a client that didn’t have some improvement and I don’t want to give them the wrong impression.  I prefer to be upfront and just tell you like it is.

The real problem is that no one really knows what’s going to happen.  It’s just like hiring an attorney and going into court.  Some people get off scot-free, others end up in the slammer.

So, how do you get the best results?

Simple, you hire the best team, with the best strategies and resources.  Believe me there’s a reason the Yankees have won 27 of the last 100 World Series.

Just like most things in life, you get what you pay for.

Do you think OJ was going to settle for some public defender just out of law school?  Heck no.  OJ hired the most expensive people on the planet.

And guess what?  It worked.

If you want to speak with a credit repair specialist who can analyze your situation and give you insights into how to improve your credit score, just call 281-727-0351 today.

And it’s FREE.

So do this today, while you’re thinking about it.

Your credit is your MOST important financial asset.  And understanding how it credit scoring works is essential to good, RESPONSIBLE money management.

I hope that helps.

One more thing, there’s there’s an even bigger issue going on that I’ll share with you in a future post.  It’s the dirty little secret about Credit Repair that no one is going to tell you.


Best Credit RepairOkay, so I was doing a little research today on the “other guys.”  Searching for credit repair companies, much in the same way you are.

Top of the list on Google is a site called “The Top Tens” and it ranks very highly for someone searching for credit repair.

The page lists the Top 10 Credit Repair sites along with this description…

“This is a top ten list of the best credit repair companies out there.”

Okay, this is great, because here’s all of the best companies listed in one place so you don’t have to spend your time searching for the trustworthy ones, they are all listed here!

Not so fast!

First, it’s important to note that the top two companies listed are “Sponsored,” which means they are paying to be listed on top and according to the site’s FAQ, “Sponsored listing always appear at the top of a list.”

Hmmm… how helpful for someone looking for an unbiased opinion.

Now, here’s where it gets tricky.  You may or may not be aware that most of these types of sites are designed to get lots of people to the site so they click on one of the links and make a purchase.  The company who gets the sale then pays the people who own the site a commission.

In some cases it can be as much as 50% of the sale.  We call this an “Affiliate Relationship.”

Understanding this is very important if you are looking for a genuine review site that has no monetary incentive.  And because it has been deemed deceptive, the FTC has issued a complete new set of rules governing how these sites must disclose such relationships.

Unfortunately, this is the case for The Top Tens.  According to their “Terms and Conditions” you’ll discover…

10. This site contains a number of affiliate links where, when visitors to The Site click through the link and perform a specific action such as submitting a form or making a purchase, we receive a commission. We reserve the right to work to maximize the profits generated by The Site using a number of tactics including but not limited to (i) more prominently featuring lists containing affiliate links throughout the site, (ii) displaying affiliate banners, and (iii) purchasing advertising to promote lists containing affiliate links.

And there you go.  The Top Tens is exposed for what it really is… a site that makes money when you click on the links and purchase that company’s services.  Sometimes they may get paid when you simply click the links.

When pressed, they will tell you that any registered user can add a new company (and in full disclosure, I added ours).  However, a look at the top listed sites (the top ten) all have redirect links that reveal the true nature of the relationship.

Giving you an unbiased review of the top ten Credit Repair sites is NOT what this list is all about.  What it is about is making money by providing leads from people, like you and me, who don’t know any different.

So, are these companies legit?  And if so, what difference does it make?

Good question, the problem is that many companies in this business are NOT dedicated to providing the best results in the shortest possible period of time.

These companies often charge ongoing monthly fees.  They offer just enough results to keep you paying month after month, but the progress is slow, painful and at the end of a year… are often not much better than where you started.

I’ve had many, many clients tell me they hired Lexington Law or another company, and after spending $800 or more, they basically had wasted a year of their time and had little or nothing to show for their money.

This is one of the biggest mistakes people make when choosing a reputable credit repair company.  Now that you know the TRUTH about The Top Tens, don’t let this happen to you.

I found this article today, which is a classic example of the propaganda being distributed by the Credit Bureaus to discourage every day consumers from working with a reputable credit repair company.

Most of the points in the article are accurate. But it’s only technically accurate and fails to provide the real “truth” about how the credit system really works or how credit repair companies help change people’s lives.

The author fails to acknowledge the reality that every single day, thousands and thousands of people are buying new homes with the help of a legitimate credit repair company.

If people were not having success, then these companies wouldn’t still be in business and their BBB profiles would be full of hundreds of complaints.

If you’re looking for the “REAL” truth, you’re going to need to speak with someone who can examine your situation to help you develop a comprehensive strategy.

You can set up a FREE credit strategy session today by calling 281-727-0351.

Now, on to the propaganda…

The Truth about Credit Repair

by Alex Ferreras on January 20, 2011

(Source: NCPW)- People with poor credit histories often are targeted by companies that promise to clean up their credit reports so they’ll be able to qualify for a car loan, a mortgage, insurance, even a job. Just as often, these “credit repair” companies say they need a fee of a few hundred – sometimes, a few thousand – dollars before they can go to work on your behalf.

The truth is that no one can get accurate negative information removed from your credit report. It’s illegal.When negative information in your report is accurate, only the passage of time can assure its removal. A consumer reporting company can report most accurate negative information for seven years and bankruptcy information for 10 years.  Read More….

Liz Davidson wrote:

“The media and the credit reporting companies have done an excellent job promoting the notion of having a good credit score, almost too good a job because people seem to think that their credit score is the most important aspect of their financial life.”  Read more here…

This article has some great information that everyone needs to know, but I don’t think it’s the media as much as it the credit bureaus who have made the topic of credit scores such a new phenomenon.

What most people don’t know is that the so-called free credit report and scoring websites like FreeCreditReport.com and … and what’s the other one? …Oh yes, TrueCredit.com.  (and now there’s another one – CreditReport.com)

They are ALL products of the credit reporting agencies – Trans Union and Experian created to milk the American public out of more money than anyone could ever dream possible.

They are spending MILLIONS of dollars promoting these products on TV and literally everywhere on the internet because they are making an absolute killing.

It’s just one more example of how the Big 3 credit bureaus are waging war on the American Consumer and profiting off of an incredibly unfair and complex system that was created just for that purpose.

One of the first things to understand about your credit is that you are officially at WAR with the the FICO credit scoring system, credit bureaus, banks, credit card companies, collection agencies and federal government.

It’s you against a multi-BILLION dollar machine.

And they have strategically set up a system that encourages you to fail.

Without a solid strategy, these formidable opponents can quickly gain the upper hand.

Every day the front line of this war is moving and it’s up to you whether you lose or gain ground.

If you pay your bills on time and manage your debt to credit ratios effectively, the best you can hope for is to slowly move the line forward.

Basically, you’re just holding the line and it may take years to push your credit scores forward.

If you make the slightest error, it can take years to recover.  Our credit scoring system is designed for you to fail.

The enemy has employed numerous dirty little tricks to catch you when you are unaware.  That makes you very vulnerable.

Understanding that you are at war is vital to preparing yourself for a lifelong series of battles.  It never ends.  And the best that you can hope for is to win little battles along the way.

Unfortunately  you can never truly win the war.  You can only gain some footage one battle at a time and then defend it with all the tenacity of a young new recruit.

It’s a mind set that you must understand if you are going to have any success improving and maintaining your credit.

If you’re looking for help to win the credit war – just click here – Houston Credit Repair

If you have bad credit, it’s not the end of the world.

And you don’t have to let bad credit stop you from having the things in life you really want and need.

Besides, it’s not really that big of a deal.  Anyone can get behind on a few payments or maybe even file bankruptcy.

The thing is, you can’t go back and undo the past.  But you can start right now and change your future.

So welcome, you’ve made a smart decision to learn more about how credit repair really works.