Frequently
Asked Questions
Below are a list of questions
we frequently receive. If your question(s) are not answered,
please click
here and send us your question(s). We will attempt
to answer them as quickly as possible.
- Is
improving my credit legal?
- What
is a credit report?
- How
can I establish credit?
- How
long does negative information stay on my credit
report?
- What
will your course do for me versus a consumer credit
counseling service?
- Can
I help improve my credit instead of waiting for
things to go away.
- Won't
my credit get better over time if I pay off my debts?
- What
should I do if I find errors on my credit report?
- What
kind of information will be on my credit report?
- Will
declaring bankruptcy really give me good credit again?
- Is
it true that bankruptcies and tax liens cannot
be removed from my credit report?
- Can
I legally remove negative information that is accurate?
- How
long will it take to improve my credit?
- Why
am I better offer buying your course versus seeking
the help of one of the many credit counseling services?
- Do
credit bureaus decide whether I can have credit?
- Will
I always have a credit score?
- Someone
told me that I can include 100 statements in my credit
reports - does this really help?
- How
is my credit score calculated?
- How
often can my credit score change?
- Will
adding lots of good credit to my credit file offset
my bad credit?
- Can
potential employers review my credit file?
- If
I challenge something on my credit report, how
long does it take to get it resolved?
- Do
credit bureaus charge a fee if I challenge information
on my credit report?
- If
someone adds me to their credit card, will that
help my credit rating?
If your question(s) are not answered,
please click
here and send us your question(s). We will attempt
to answer them as quickly as possible.
 Is
improving my credit legal?
YES, a federal law titled The Fair Credit Reporting
Act (FCRA) was specifically created to protect consumers
by giving them the right to review their credit reports
and legally challenge inaccurate information. Many
times, your credit is negatively effected by inadvertent
mistakes that are made. Why shouldn't you be able
to remove these mistakes?
[back
to top]
What is a credit report?
A record of your credit payment history reported
by your creditors.
[back
to top] How can I establish credit?
Like anything, start small and build up from there.
Department store credit cards are generally the
easiest to obtain. Apply for one or two and make
some small purchases. Then, make absolutely sure
you pay them in a timely fashion.
[back
to top] How long does negative
information stay on my credit report?
Chapter 7 & 11 Bankruptcies = 10 Years, dismissed
or discharged chapter 13 bankruptcies = 7 years,
unpaid tax liens = 15 years, and most other information
= 7 years.
[back
to top] What will your course
do for me versus a consumer credit counseling service?
My course will teach you how to negotiate your outstanding
debts and remove negative credit ratings from your
credit reports. Consumer credit counseling services
will help you create a budget and negotiate lower
payments. These are two very different approaches.
And there is something you should
know. Most consumer credit counseling services are
financially backed and controlled by the credit bureaus
so it makes sense that they are not going to teach
you how to remove negative credit ratings.
[back
to top] Can I help improve
my credit instead of waiting for things to go away?
Yes, your credit report often contains errors, that
when properly challenged, will be removed. There
are also other approaches you can take to help improve
your credit. However, improving your credit is not
a one-time-fix; you must change how you view and handle
your credit over time. Pay your bills on time, do not
take on too much debt, and use your credit cards responsibly.
[back
to top] Won't my credit improve over time if I pay off my
debts?
While paying off your outstanding debts is a step
in the right direction, if not done properly, it
could make things ever worse. Without properly negotiating
with your creditors ahead of time, negative information
will stay on your credit report for seven years from
your last payment date. Your credit report will show
that you satisfied the debt, but the fact that you
were late will remain. I will show you how to avoid
this and possibly pay less then you owe.
[back
to top] What should I do if I find errors on my credit report?
Challenge it by following the procedures outlined
in our credit improvement manual.
[back
to top] What kind of information will be on my credit report?
Your credit and public payment history and credit
inquiry history (e.g. how many times has your credit
been checked).
[back
to top]  Will declaring bankruptcy really give me good credit
again?
Plain and simple, it might, and it might not. There
is a lot of negative information that is saved and
associated with bankruptcy filings. Plus, bankruptcy
related information will be included in a special
section within your credit reports. So, what I'm
saying is there will be skeletons in the closet.
Whether they are found or not will depend on how
deep creditors want to dig.
You should consider bankruptcy as a LAST
RESORT because of its long-term effects. As bad as things
may seem, you probably have alternatives. Although bankruptcy
may seem like the only way out in the short-term, you
may experience many negative long-term effects. I will teach you approaches, including
how to pay less than you owe, that will eliminate the
need to file for bankruptcy. Unless you have more than
$225,000 in debt, I strongly suggest you look at all
your alternatives before declaring bankruptcy. Remember,
there are no free lunches.
[back
to top] Is it true that
bankruptcies and tax liens cannot be removed from my credit
report?
They are often more difficult to remove, but they
can and are being removed on a daily basis.
[back
to top] Can I legally remove negative information that
is accurate?
Yes, you just have to be persistent and follow the
processes outlined in my course.
[back
to top] How long will it take to improve my credit?
It all depends on your situation. But all of our
customers see positive results within 30-60 days.
[back
to top] Why am I better offer buying your course versus
seeking the help of one of the many credit counseling
services?
Because credit counseling services will not help
you identify errors and legally remove negative information.
[back
to top] Do credit bureaus decide whether I can have credit?
No, credit bureaus simply supply information. Creditors
and lenders make the final decision.
[back
to top] Will I always have a credit score?
No. There are certain situations where a credit score
cannot be calculated because one or more of the following
has occurred:
- Your credit report does not contain at least one
account.
- A remark on one of your accounts references a person
who is deceased.
- The Social Security number on your credit report
matches a Social Security number in the Social Security
Administration's "Death Claim Index".
[back
to top]  How is my credit score calculated?
The credit industry uses various types of credit scores
to assess risk for different types of credit. For example,
a creditor may use one type of score when assessing
risk for a credit card account, and another type of
score when assessing risk for a mortgage account.
[back
to top]
Someone told
me that I can include 100 word statements in
my credit
reports - does this really help?
It has been my experience that
creditors do not pay any attention to 100 word statements.
As a matter of fact, I think they hurt you because
they are looked upon as an admission of guilt and
you trying to explain why your payments were late
or not paid at all. I never recommend them. Your
time will be much better spent trying to remove negative
information.
[back
to top] How often does can my credit score change?
Your credit file is continually updated with new information
from creditors. Your credit score is calculated based
on the information contained within your credit file
at the time the credit score is calculated. Therefore,
your credit score can change every time the information
in your credit file changes.
[back
to top] Will adding lots of good credit to my credit file
offset my bad credit?
Adding good credit entries won't hurt, but it does
not offset bad credit entries on a one-to-one basis.
The most effective approach you can take to improve
your credit is to negotiate and payoff your outstanding
debts.
[back
to top] Can potential employers review my credit file?
Under Federal law potential employers can review
your credit file, but it is a modified version.
A modified credit report omits account numbers
for your protection and privacy. However, prior
to requesting your file, potential employers must
obtain a signed consent form from you.
[back
to top] If I challenge something on my credit report, how
long will it take to get it resolved?
The Federal Fair Credit Reporting Act requires credit
bureaus to complete their investigation and notify
you within 30 days of receiving your dispute.
[back
to top] Do credit bureaus charge a fee if I challenge information
on my credit report?
No, credit bureaus are not legally allowed to charge
for investigations or removing incorrect information.
[back
to top]
If someone
adds me to their credit card, will that help my credit
rating?
The answer is yes and no. It depends on who you add
and their credit rating. There are better ways to
improve your credit without as much risk.
[back
to top]
I hope you found this information useful.
For additional information please click
here now.
If your question(s) were not answered,
please click
here and send us your question(s). We will attempt
to answer them as quickly as possible.
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