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Why
can't you just pull my credit reports?
We can not
pull or order your credit reports for you,
beware of companies that do! A company or
individual must have a "permissible reason" for
pulling a consumers credit report. Permissible
reasons are: judgment/collections, extension of
new credit and employment screening. Since none
of these apply to credit repair and inquiries
count against your credit score, we will not
pull your credit reports. Instead we will send
you to a website were you can order a 3-in-1
credit report and receive it instantly on-line,
it is a consumer disclosure and DOES NOT count
negatively against your credit score!
How much does bad credit cost you?
Example 1:
Financing an Automobile
If you are making payments on a typical auto
loan, you are probably paying between $5,000 and
$9,000 more in interest just for having bad
credit. See the chart below.
|
$20,000
car paid over 5 years: |
|
Credit
status |
Rate |
Payment |
Cost of
bad credit |
|
Perfect |
10% |
$424.94 |
$0.00 |
|
Mildly
Damaged |
14% |
$465.37 |
$4,722.54 |
|
Damaged |
20% |
$529.88 |
$8,593.30 |
Example 2:
Mortgage on a Home
Bad credit in auto financing can really hurt,
but it is nothing compared to the cost of bad
credit when a home is involved. A typical home
can cost between $50,000 and $130,000 more in
interest if you are buying the home with bad
credit. See the chart below.
|
$100,000
home paid over 30 years: |
|
Credit
status |
Rate |
Payment |
Cost of
bad credit |
|
Perfect |
7% |
$655.30 |
$0.00 |
|
Mildly
Damaged |
9% |
$804.62 |
$50,155.24 |
|
Damaged |
12% |
$1,028.61 |
$130,791.63 |
|
How quickly can I pay off my debts with
good credit? |
|
The
impact of a higher rate on a $500
balance, if you make a minimum payment
of $10 per month: |
|
Interest rate |
16% |
19% |
21% |
23% |
|
Number of months to be rid
of debt |
83 |
94 |
120 |
168 |
|
The interest you will pay
over time |
$329.42 |
$431.08 |
$698.50 |
$1,174.36 |
|
|
Source: Bankrate.com |
What about Consumer Credit Counseling?
We have all
seen countless ads for non-profit Consumer
Credit Counseling agencies, but how can a
non-profit organization pay so much for
advertising, and if you don't pay for
their services who does? We know all those
people don't work for free, the phone companies
are not providing them with free 800 numbers,
and TV stations are not giving them free air
time, so how are they doing it? They are
"sponsored" by major banks and lending
companies, and the way they keep their
sponsorship is by collecting money for the
sponsors! They may say they work for you, but
we all know in the end, they work for whoever is
pays the bills... This means they are nothing
but collections agencies, sponsored by your
lenders and creditors. Truly a wolf in
sheep's clothing. They also don't tell you
that they are going to destroy your credit
rating when you enter their program. All of
your accounts will be charged off and settled
for less than the full amount will be entered on
your credit reports. Your credit reports will
also be noted that you are enrolled in their
program, you might as well see if they can just
stamp a skull and cross bones on your credit
reports!
We are very
different from a non-profit credit counseling
agency, because we work for YOU, they
work for your creditors! Depending on
the age of your debts we can either remove them
from your credit reports without you paying
them, or settle them with a deal that is in your
favor, not the lenders. The choice is up
to you!
Who are the Credit Reporting Agencies?
The three
major credit reporting agencies, also called
Consumer Reporting Agencies (CRA's) are NOT
government agencies, they are for profit,
multi-million dollar corporations that gather
and sell your private personal information, to
creditors, insurers, employers, landlords, and
companies that solicit you for credit and
insurance offers. They also sell your
information to telemarketing and mailing list
companies, without your permission and in most
cases without your knowledge! They admit that
errors occur on consumer reports, but they do
nothing to correct them. If they really cared
what they reported, they could send everyone a
copy of his or her credit report once a year and
ASK if everything is right! But
they don't, instead they report whatever they
want and make the consumer "prove" that the
report is inaccurate.
Why do the Consumer Reporting Agencies Dislike
Credit Repair?
Because they lose money! A person with "bad
credit" has 70% more inquiries on their file
than a person with "good credit", think about
that for a minute, every time a credit file is
pulled the CRA's make money (in between three
and five dollars a piece)! So do they want you
to fix your credit, absolutely not! Thankfully
we live in a democracy, where everyone is
entitled to a fair defense. A courtroom would
never stand for a prosecuting attorney to point
his finger at you and yell "guilty" and then not
prove his case... so why would we stand for the
credit reporting agencies to do it? We agree
with the law makers and Congress; that the
credit reporting agencies must back up what they
report about you. The real issue here is not
always whether the information is even accurate
or not, but is the reporting agency able and
willing to prove it. If your defense is properly
presented, it is usually more trouble for the
credit reporting agencies to verify the
information on your report than it is for them
to simply delete it. You can appeal to the three
reporting agencies yourself, or you have the
right to hire someone to do it for you. The
choice is up to you, we have helped countless
people regain control of their credit situation,
and we would like the opportunity to help you.
Enroll today!
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