Year: 2012

Dealing with Your Credit History Can Save You Thousands

Your credit history, erroneous accounts (not yours), obsolete accounts (past the statute of limitations), or unverifiable accounts (the creditor cannot verify the accuracy of the item), are costing you hundreds and even thousands of dollars each year in higher interest rates, fees and points on your home and auto loans, and credit cards. In some cases they are preventing you from even getting credit. credit history

Most people are unaware of their credit history. Some of aware that they have negative items on their credit report but are embarrassed about it or don’t know that there’s a legal and affordable way to remove them.

Steps to Monitor Your Credit History

Monitoring your credit history by obtaining your credit report from one of the 3 main credit bureaus (Experian, Equifax, Transunion) on a regular basis is the first step. You can do this quickly, easily and it’s free! Federal law allows consumers to receive a free credit report from each of the 3 main credit bureaus mentioned above once every 12 months. We suggest that you pull one from each bureau every 4 months instead of all 3 at the same time to be able to monitor the credit activity on your account all year long. Go to www.annualcreditreport.com. This web site is listed on the Federal Trade Commission web site as the place for consumers to go to obtain their free credit reports. And, you should know that when you pull your own credit report it does not reflect as an inquiry on your credit file.

What Can Be Removed From Your Credit Report?

Once you have your report note any items that are in error (not yours), obsolete (older than 7 years), duplicated (items listed more than once), or are simply showing up as derogatory even if you do owe the money, did file for bankruptcy, did short sale your home, or did have that foreclosure. All these items can potentially be legally and affordably removed from your credit history. Yes, all of them!

If you have even one item on your credit report that fits any of the categories above it will save you for more in the long run to remove that item and increase your credit score. An increase of just 25 points on your credit score may allow you to refinance your car, home loan, or move your credit card balances to lower interest rate credit cards.

The Benefits of Cleaning Up Your Credit History

To encourage you to do this, look at the following example. Let’s say you have a credit card with a $3,000 balance and an 18% interest rate. If you were able to move that balance over to a credit card with a 14% rate (the approximate current average rate for credit cards), you would save about $1,000 in interest by just making the minimum payment each month. You could potentially do this with all your debt by removing those negative items on your credit report and increasing your credit score.

We’re Experts at Working on Your Credit History

You just have to give us a call, text us or send us an email. We conduct a free, no obligation phone consultation. It’s simple. If you choose to work with us it’s affordable too.

Call or Text
West Coast- 619-492-3040
East Coast- 727-222-0120
Email info@eracreditservices.com 

Or, visit ERA Credit Services Credit Repair

A Home Based Financial Services Business

Is it possible to build a home based financial services business and make the same income, if not more, than at a traditional job? Yes it’s possible. And, it’s wonderful. I can say that because we’ve done it and can show you how.

Your commute is as long as the distance from your bedroom to your home office. You can take breaks and days off when “you” want. And, you don’t have to work with people that someone else hires. You choose who you want to spend time with. home based financial services business

A Home Based Financial Services Business

Our home based financial services business is Financial Education Services (FES). This is the business my wife and I chose to launch and build alongside of our accounting business. Because of the growth of this new business we shut down our accounting business after two years. The reason we chose FES is due to the track record of the company and the nature and pricing of the services they offer.

We were not going to refer our valued clients, associates and friends to a company that was less than solid. FES has been in business nearly 10 years (14 years as of January 2017). FES has an A+ BBB rating.  They have served close to 250,000 clients, and are accredited by the National Association of Credit Services Organizationss (NACSO). The company has maintained the same principal leaders over the 14 years of its existence, and is debt free.

Services Offered by Financial Education Services

Financial Education Services offers services that restore and protect people’s credit, their identity, their family, and their financial future. In these tough economic times nearly everyone is in need of these services. They offer a low cost, effective credit repair program. In addition identity theft protection, a will and trust program, and other services that help people pay off debt faster and improve their credit score. FES has something that everyone needs.

Up until 2009 the business model of FES was as a traditional company with agents selling to consumers. That was changed and FES now has a network marketing structure. Agents can now bring on and train other agents all over the country. They develop a long term residual income as well as an immediate income by selling the services.

What We Most Enjoy About Working with FES

Dale & Shirley Guiducci
Dale & Shirley Guiducci

The one aspect of what we do as an FES Agent that I really enjoy is developing relationships with other professionals. People in the mortgage business, real estate agents, bankruptcy attorneys, bankers, and auto dealers. People in these professions all have clients that need to restore their credit. Real estate and mortgage professionals, as well as auto dealers, particularly want to work with us. They have prospective clients that once FES successfully removes derogatory items from their credit report become ready, willing and now able buyers.

FES and what it offers to people is not a trend that will grow like wild fire and burn out in a few years. FES is a long term home based financial services business opportunity whose services will be wanted and needed many years from now. There are Agents with FES making a nice part-time income all the way up to those that are making 5 figures a week. So, it has the same huge income potential like many network marketing companies if someone is willing to go to work and build it. We are one of those people and would love to share more.

To learn more visit http://eracreditservices.com/credit-repair-business-opportunity/

This post A Home Based Financial Services Business was written by Dale Guiducci. Dale and his wife, Shirley are the owners of ERA Credit Services and Independent Agent for Financial Education Services. This was originally posted in November 2012 and was updated January 2017.

The Fair Credit Reporting Act-Fixing Your Credit

The Fair Credit Reporting Act (FCRA) is administered by the Federal Trade Commission. In the 84 page Act there are provisions to address the issue of erroneous information listed in a consumers credit report. Basically what it says is that a credit bureau must verify the information a creditor reported to them if a consumer disputes that information. This should make one realize that information in a consumers credit report, whether it be from Transunion, Equifax or Experian, is not verified before it is inputted in a consumer credit file.

Fair Credit Reporting Act

By virtue of the language in the Fair Credit Reporting Act a consumer can dispute any item on their credit report whether they know if it is erroneous or not and thus make the creditor prove the accuracy of what they originally reported.

There is a timeline involved in which the creditor has 30 days respond to a dispute. If they do not respond within that time period the item in dispute must be deleted from the consumers credit report.

A Creditor’s Timeline Outlined in the Fair Credit Reporting Act

  • Dispute from consumer to credit bureau (Transunion, Equifax, Experian)
  • Credit bureau has 5 days upon receipt to notify creditor of the dispute
  • Creditor has 30 days upon receipt to respond with findings to the credit bureau
  • Credit bureau has 5 days upon receipt to update the consumers credit report and respond to the consumer

A total 0f 40 days

Taking Advantage of The Timeline To Fix Your Credit

Whether it’s considered a loophole or not consumers can have accurate items removed as well if the creditor does not respond to a dispute by the consumer. But to do this (whether erroneous or accurate) a consumer must have knowledge of the proper procedure to follow, the language to include in the dispute and, in some cases, know what dispute code to use relating to their particular dispute.

That is where a reputable credit repair company that charges a reasonably fee can be helpful. The company should have the expertise to continue the dispute process beyond just the initial dispute, give the consumer online access to the progress of their dispute process, and offer a guarantee for their service. To dispute information on your credit report affordably visit ERA Credit Services Credit Repair or call:

619-492-3040 San Diego
727-222-00120 Clearwater