Category: Credit Report

Credit Repair in Florida – What You Need to Know

You need to know the right questions to ask when you’re looking for credit repair Florida.

Credit Repair Florida

  • Most credit repair companies do not address all your items immediately. They only work on one or two derogatory items every 60 days. They extend the process intentionally so that you end up paying a monthly fee for several more months than is necessary.
  • Most credit repair companies in Florida do not involve you in the process. You do not see what’s being addressed, how they are addressing these negative items, or when they are doing it. They do not show you the items being disputed.
  • Unless you have a way of checking your credit reports and credit score on your own you do not see the impact of their work real time. Therefore you don’t know if what they are doing is working for you.
  • Lastly, credit repair Florida companies in cities like Tampa, St. Pete, Clearwater, Jacksonville, Orlando and Miami only do credit repair and do not help you with other ways to increase your credit score as well. Credit repair is a great service if done correctly. But it isn’t the only way to increase your credit score.

So, you have two choices. You could call several credit repair Florida companies and interview them. You now know the questions you should ask them.  See if you can find one that disputes all items right away. That doesn’t charge you a set up fee. Try and find a Florida credit repair company that will keep you informed and give you real time access to your credit scores and credit reports. Ask if they provide other services that will increase your credit score as well.

Credit Repair in Florida – A Full Service Credit Repair Company

Or, you could simply make one phone call to ERA Credit Services at 727-222-0120 for credit repair anywhere in Florida. We are an independent agent for United Credit Education Services that is accredited by and has an A+ rating with the Better Business Bureau.

  • Talk to a company that will fully explain the process to you right over the phone.
  • Your service starts immediately for a one time fee of $99.00 & your first monthly payment of only $87.00
  • We address all your derogatory items immediately insuring you’ll get the fastest results possible.
  • We give online access to all the information about your account. To see the account you’ll get click ERA Credit Services Protection Plan
  • You’ll receive correspondence about the negative accounts we’re working on for you so you know what items are being addressed.
  • You’ll have access to your credit scores and credit reports that is updated real time.
  • We also will provide other powerful services to increase and protect your score.
  • And, we provide you with knowledge about credit so you can maintain a high score in the future.

All for only $89/month with no contract and no minimum time on service.

Make one phone call for credit repair in Florida to ERA Credit Services (727) 222-0120

ERA Credit Services is backed by over 12 years of experience in the industry and an A+ rating with the Better Business Bureau. We are also certified by the National Association of Credit Services Organizations.

credit repair Florida

Tips on Maintaining a Good Credit Score

10 Tips on Maintaining a Good Credit Score

Maintaining a Good Credit Score

Below is some great information for every consumer on first getting, and then maintaining a good credit score.

Monitor Your Credit Report

First, in order to know if you have a good credit score, enroll for an online credit monitoring system that alerts you if there are changes to your report and/or credit score. We suggest SmartCredit.

Use Credit Cards Like a Debit Card

For building and maintaining a good credit score treat your credit card like it’s a debit card. If you can’t afford to pay off a purchase at the end of every month don’t make that purchase. And, use cards with benefits (travel, points, etc.)

Credit Card Balances

If you have to maintain a balance on your credit cards make sure it is low relative to your limit. A good rule of thumb is under 30% of the limit. The credit reporting agencies all consider debt to limit ratios an impact factor in calculating a good credit score.

Use of Credit Cards

If you have credit cards use them periodically, even just once every few months. A dormant card reduces the impact on a good credit score.

Resist Department Store Cards

If you have major cards you don’t need a store card. They usually come with annual fees and high interest rates.

Resist Co-signing for Others

When you co-sign for another on any type of loan you give up control of credit history to another person. If that individual is late on a payment in can cost up to 60 points and affect your good credit score.

Expand Your Portfolio

Maintaining a good credit score requires more good credit. If you have just a secured credit card, apply for an unsecured card after 6 to 9 months. But don’t have more than 3 credit cards. It’s simply not necessary.

Keep Track of Automatic Payments

Payments that are automatically deducted every month from your checking account by giving a creditor your debit or credit card must be monitored. If your card expires they can quickly turn into late payments. Late payments can have a huge impact on your good credit score.

Note Annual Fees

If you have credit cards and other accounts with annual fees make sure you pay those fees promptly. Sometimes they go unnoticed and therefore, unpaid causing late payments and delinquencies.

Keep Inquiries to a Minimum

Hard inquiries can cost you points on your credit score. Keep inquiries from prospective creditors to a minimum. Be especially careful when purchasing a car. Some dealerships and car lots will have several finance companies run reports on you all on the same day.

If Your Credit Score is Below 640, Get Help

A credit score below 640 will not typically put you in a position to qualify for a mortgage. As well, it will cost you more in interest rates and deposits for credit cards, insurance, cable, cell phone, other utilities and more.

maintaining a good credit score

Ways That Bad Credit Can Affect Your Life

Bad credit and low credit scores can affect your life in many ways. Bad Credit

Bad Credit can prevent you from getting a decent payment on a car loan, or qualifying for a mortgage, line of credit or credit card. We all know that. But we don’t usually think about the fact that poor credit can hurt relationships, restrict you from being able to move, or even find a job. Here are some things to think about.

Bad Credit Can Affect Relationships

If you can’t borrow money due to bad credit, you may consider asking a friend or family member to help. Being late on a credit card payment will damage your credit rating. But being late in paying back a friend can damage the relationship. Bad credit can also have a terrible impact on marriages. Financial troubles are the leading cause of divorce in America today.

Emergencies

One of the best uses of a credit line or credit card is to have it in the event of an emergency such as a medical issue. However, if you are “maxed out” on a credit line and have a low credit score you risk not being able to handle such an emergency.

Mobility

If an emergency such as a natural disaster, or if an opportunity such as a job offer in another area comes your way, you may not be able to leave. In addition, having bad credit can keep you from getting a travel rewards card allowing you to save money using mileage points to purchase tickets and accommodations.

Car Insurance

Automobile insurers in some states increase auto insurance rates partly based on credit score.

Homeowners Insurance

Although some states don’t allow credit scores to be a factor in determining home owners insurance rates, in the states that do allow it people with bad credit pay at least twice as much as those with good credit.

Renting a Home or Apartment

More and more landlords, including owners of one or two units, are checking credit reports of applicants. Credit score and lack of evictions directly correspond to how responsible someone is.

Employment

You can be denied a job due to a bad credit score. One out of four Americans have had to go through an employer credit check, and one out of 10 a job because of a low credit score.

Higher Costs

Less than perfect credit can cost you $200,000 and up to $1 Million in higher interest payments over your lifetime.

Deposits

You might be required to pay a deposit in order to get service if you have a bad credit score. It could be a significant deposit if you’ve been late on utility payments or defaulted in the past.

Professional Licensing

The Fair Credit Reporting Act allows government agencies that regulate professions to use credit reports. This means that states can require proof of creditworthiness before issuing everything from medical licenses to doctors, to construction licenses to contractors.

Quality of Life

Debt can keep you from getting an education. It can keep you in an unhealthy relationship. It can keep you from getting a better job. Debt can keep you from fulfilling your potential as a person.

What Should You Do?

There are ways to clean up a credit report potentially and even more to increase a credit score. Someone who has poor credit needs a game plan and a coach to educate and guide them. Give us a call and let the healing begin.

Also, visit http://eracreditservices.com/more-than-credit-repair/ to learn about the various services and tools we have available.

FOR IMMEDIATE RELEASE: New Tampa Area Credit Repair Company Getting Great Results for Clients

Clearwater, FL – June 19, 2015 – ERA Credit Services, an Agent for United Credit Education Services, has expanded its operation and is now representing a new credit repair company in Tampa and is getting rave reviews. They now provide credit repair services in Tampa, St. Petersburg, Clearwater and Largo an as well service the entire state of Florida.

New Credit Repair Company in Tampa

Dale and Shirley Guiducci began assisting consumers with removal of derogatory items from their credit reports in San Diego in 2012 after trying to find a reputable company to help clients of their accounting business.

“We introduced United Credit Education Services to the San Diego market and it really took off just by word of mouth. We told friends and business associates that began using the services and shortly after we started getting calls from real estate and mortgage professionals who had clients that needed help with their credit score.” says Dale Guiducci.

Late in 2014 the Guiducci’s made a decision to move cross country to the Tampa Bay area and have now settled in Largo, FL. Shirley explains, “Because of the success we had in San Diego and the people we had working with us there we were able to make the decision to move wherever we wanted. We saw a need for a new credit repair company in Tampa. And, what better area in the country to move to than the Gulf Coast of Florida?”

Credit repair or credit restoration is the removal of erroneous, obsolete and/or unverifiable items from credit reports produced by the big three credit reporting agencies (CRA), Experian, Equifax and Transunion.

One ERA Credit Services client, Bryan Fallucca, told us, “What they did for me is nothing short of a miracle. I had the worst credit possible for years & it really took a toll on me both mentally & financially! They took my score from the high 500’s to a 748. Not only was I able to get a new car with nothing down & a very low monthly payment, I was also able to move me & my daughter into a better area of town & school district.”

A mortgage professional, James Hooper of Capital Line Mortgage shared, “ERA Credit Services helped one of our clients improve their credit from a 645 mid score to a 700 mid score on the dot. Our client now has the ability to refinance at much better interest rates 6 months after starting to work with ERA. Dale and ERA will be getting all our customers that need credit repair in the future.”

The owners of ERA Credit Services, now a new credit repair company in Tampa Bay

Dale and Shirley Guiducci are owners of ERA Credit Services, an Agent of United Credit Education Services. ERA Credit Services now has more than 280 Agents providing credit repair and other financial services to consumers in all 50 states.

Contact:

Dale & Shirley Guiducci
ERA Credit Services

4500 140th Avenue North
Suite 101
Clearwater, FL 33762

727-222-0120
619-492-3040

Email: info@eracreditservices.com
www.eracreditservices.com

FICO Adds to Consumer Credit Scores

In April, the Wall Street Journal reported that soon consumer FICO credit scores will reflect payment history on utilities, cell phone accounts, and cable bills. How often someone moves will also be a factor in their FICO credit score.

FICO credit score

It is unclear at this point how many consumers have already seen a change in their FICO credit score as a result of FICO working with 12 credit card issuers to test the new scoring model in lending decisions. The new scoring model is slated to be used nationwide by the end of 2015 providing a credit history for 53 million more consumers that currently don’t have one.

It is also unclear how this may affect consumer FICO credit scores. It may help those people with little or no credit history to establish one. It may also help those with an established credit history to bolster their score if they have an on time payment history in these areas. Currently, the only time payment history for utilities, cell phones or cable bills is reported is when there is negative information such as delinquent or unpaid amounts.

The new FICO credit score model will also report on how many times a consumer changes addresses. Frequent changes of address may lead to a creditor deciding that someone is unstable financially.

This represents an opportunity for the credit reporting agencies (Experian, Equifax & Transunion) to grow their business. Bringing into the fold 53 million more consumers will mean more data being submitted by creditors, more credit reports being pulled, and more consumer FICO credit score data being purchased by companies for marketing purposes. All of which generate revenue for the 3 agencies. It also means that companies will now have more data on more consumers allowing them to expand marketing efforts to these consumers.

These changes reflect a major change in the existing FICO credit score model. How much it will affect existing consumer credit scores and how many more consumers will now have access to credit remains to be seen.

For more information on applying rental history to your credit report, visit www.ERACreditServices.com or call 619-492-3040.

Good News for Credit Consumers – But Just How Good?

Help for consumer credit may be on the way

The 3 large credit reporting agencies (CRA’s), Experian, Equifax & Transunion have collaborated on and announced the creation of the National Consumer Assistance Plan which they say will change the way unpaid and paid medical debt will be reported on a consumer’s credit report. This self imposed plan will also require the CRA’s to gather more and accurate information from creditors when an item is disputed by the consumer. This should help consumer credit.

Consumer Credit

The CRA’s will now wait 180 days before reporting unpaid medical debt allowing more time for the consumer and their insurance company to arrange for payment. In addition, paid medical debts will be removed from consumer reports, which is a change from the current 7 year reporting policy.

Also the CRA’s will hire and train employees to address and respond to consumer disputes. Currently the practice is automated in that over 85% of the disputes are simply sent to the creditor to address the issue.

This is certainly a step in the right direction.

However, it remains to be seen if Experian, Equifax and Transunion are committed to providing accurate information on consumer credit reports or of this is simply a measure to slow down the scrutiny of the federal and some state governments.

No Change as of June 2017

We originally posted this blog in March of 2015 when the report first came out. However, as of June of 2017 there has been no recognizable change to the way paid or unpaid medical debt is being reported. And, certainly no help for consumer credit scores. Since PR News Wire reported this there has been no follow up. We’ll assume that’s because of the difficulty in getting 3 separate $billion companies on the same page. Or, we’ll chalk this up to an attempt by the CRA’s to get good press back in 2015.

For information and advice on your credit score visit www.ERACreditServices.com

Credit Repair May Be Needed by Many Boomerang Home Buyers

According to a January 26, 2015 article published on RealtyTrac.com, more than 7 million people will fall into the category of Boomerang buyers and enter the housing market over the next 8 years. People that lost their homes prior to 2007-2008 are now in a position to start looking to be a home owner once again. Part of the reason is that they are now past the 7 year period where a foreclosure or short sale (or any derogatory item) should show up on their credit report but still may be in need of credit repair. Credit bureaus do not always remove these items in a timely manner. And, over the next few years more people will be past that 7 year period and will once again, have the opportunity to buy a home.

The article also shared that these consumers still may have other derogatory items on their reports and may need to utilize credit repair in order to raise their credit score to the level required by mortgage lenders. Individuals can attempt to do it themselves by contacting the credit bureaus directly. However, it is time consuming and requires knowledge of the law. An alternative is to hire a professional, reputable credit restoration company.

Las Vegas, Northern & Southern California, Florida and Detroit, MI are markets that are likely to see the most activity.

Credit repair for Boomerang Home Buyers Infographic

What consumers must realize is that time is required to go through the credit repair process.

It can take anywhere from 60 days to several months to effectively clear a credit report of derogatory items. We have offices in Clearwater, FL and San Diego, CA to help people repair their credit.  And, we work with independent Agents around the country that can assist consumers in any U.S. market.

For San Diego credit repair call 619-492-3040. For Tampa, St. Pete, Clearwater credit repair call 727-222-0120.

We offer a free, no obligation consultation. Together we will determine whether credit restoration can help you by discussing your individual situation. We will then give you details on the process and time frame.

Get ready for the opportunity to be a home owner once again by taking action now to restore your credit and your overall financial health.

Visit http://eracreditservices.com/credit-repair/

Proposed Overhaul of Credit Reporting Agencies

At the very least someone is paying attention to the practices of credit reporting agencies. Maxine Waters, a member of the U.S. House of Representatives from the 43rd Congressional District (South LA County, CA), has proposed sweeping changes to the way the big 3 credit reporting agencies (Experian, Equifax, Transunion) handle consumer information provided by creditors.

credit reporting agencies

Proposed Changes under the Fair Credit Reporting Improvement Act of 2014

The Fair Credit Reporting Improvement Act of 2014 proposes the following changes which would increase millions of consumer credit scores immediately:

  1. Currently creditors have the legal right to report a derogatory credit item on consumer credit report for 7 years, or 10 years in the case of a bankruptcy. The new bill, if passed, would reduce these time frames to 4 and 7 years respectively.
  2. Paid or settled delinquent debt remains on a credit report as a derogatory account. The bill would eliminate this although it is unclear as to whether the item would be deleted, upgraded to a ‘Paid as Agreed’ status, or other.
  3. When a consumer’s account has late payments their credit report reflects those late payments for the previously mentioned 7 year period. The bill would allow for a consumer to make a certain amount of on-time payments (perhaps 9 consecutive months) and have the previous late payments dropped from the report.
  4. Currently when a consumer disputes an item on their credit report that dispute is reflected on the report preventing them from closing a home loan in some cases. The bill would eliminate reporting of disputes unless the dispute by the consumer is deemed frivolous. Of course, what is deemed frivolous is controlled by the credit bureaus so this may or may not have much positive impact.
  5. The bill would eliminate the credit bureaus from offering a ‘free trial’ program to obtain their credit score and then switching consumers to a ‘paid program’.
  6. Currently consumers have the right to one free credit report per year from each of the 3 credit bureaus but they still have to pay for their scores. The bill would force the bureaus to also provide free credit scores once per year.
  7. Approximately half of all employers run credit checks on applicants. This bill would drastically reduce the number of employers able to do so by categorizing those than can. How this will be done is still unclear.

But Are Positive Changes to the Credit Reporting Agencies Really Coming?

This may be a welcomed bit of news for those in the know of current reporting practices but it isn’t cause to get excited just yet. Business Week stated that the bill is “unlikely to pass”. Business Insider goes further and states that, “the newest credit reporting act doesn’t have a chance”.

Consumer Debt is Still a Big Problem

Even though most recent reports signal a recovery of the U.S. economy from the worst financial crisis in close to 100 years, delinquent consumer debt is still a major drain of individuals and the economy as a whole. Reports indicate that there is a bigger problem in this area than experts previously thought. And, many consumers don’t even realize they owe this delinquent debt.

A report by the Urban Institute from late July, 2014 revealed that about 77 million adults have delinquent debt on their credit report. This excludes mortgage debt and takes only into account unpaid medical bills, credit cards, utility bills and other forms of consumer debt.

consumer debt

Income Level and Consumer Debt

This report also found large differences in the amount of consumer debt owed based on income level. Areas with lower incomes, such as the South, had collection rates as high as 40%. They also found concentrations of past due debt in Texas and Louisiana amongst other regions.

What was also interesting about this report is that creditors don’t seem very active in seeking payment of this debt. Many consumers discover that they have unpaid bills only when they go to purchase or lease a car, rent an apartment, buy a home, or make some other type of purchase that requires a check of their credit report.

Our Advice to You

Based on these findings our advice is to get a copy of your credit report. You can obtain a free copy of your Experian, Equifax or Transunion credit report at www.annualcreditreport.com. If you do have unpaid debt you can either call the creditor and negotiate a payment, or you can call us. Through our industry best credit repair service we can potentially get it removed from your credit reports on all 3 bureaus.

ERA Credit Services
www.eracreditservices.com
619-492-3040
727-222-0120

Fix Your Credit Through the Credit Bureaus

All 3 major credit bureaus (Experian, Equifax & Transunion) give consumers the ability to fix your credit and dispute derogatory or negative trade lines through their websites. This is required by the federal government. However, because the credit bureaus give us the ability to do this doesn’t mean they are an advocate of the process or are working on our behalf to help us clean up our credit reports. Fix Your Credit

Here is why and its basic logic. The credit bureaus do not generate revenue or make a profit by having to address negative items on our credit reports even if they are erroneous or obsolete. This process is a huge expense for these companies. It’s simply a downside of their business. Therefore they are not going to make it easy to fix your credit.

Steps To Fix Your Credit

First, they are going to require that you prove your identity. If you cannot prove you are who you are they are not going to allow you to submit a dispute. There is actually a very valid reason for this, identity theft. The bureaus are not going to send updates on your credit report giving out personal financial information to someone that they are not sure is you. Therefore, be prepared to answer random questions that will give the bureaus enough information to validate that you are who you say you are.

Then you will have to provide a valid reason for the dispute. What is valid to you is not necessarily valid to them. For instance, because you co-signed for a loan or credit card for someone and they didn’t pay is not a valid reason to have the item removed from your credit report, nor is being deployed on active duty in the military, or going through a divorce. There are valid reasons for disputing an item such as, the account wasn’t yours. But the credit bureaus are not going to publish this information. This is further evidence that they want to make it as difficult as possible for consumers to fix your credit.

If you are successful in submitting a dispute through the credit bureau website or writing a letter, and you receive an update from the bureau verifying the accuracy of the account on your report and thus stating that the information will remain unchanged, don’t give up there. This is the biggest mistake consumers make when trying to dispute items on their own. Dispute it again. Make the credit bureaus contact your creditor and have that creditor respond again. Do it several times. In some cases when the creditor sees that you are not giving up they will simply not respond to the bureau(s). When this occurs the item must be deleted from your report.

A Professional Service Can Save Lots of Time and Frustration

As you can tell this is a lot of work and most of the time leads to failure and frustration. Many consumers make the decision to pay for a professional company with a good track record to go through all of this for them. Companies that have been in business for several years know exactly how to navigate through this process, the proper dispute reasons and codes, the acceptable proof of identification needed, and will not give up.

If you decide that your time is worth far more than trying to fix your credit on your own give us call. We have been in business since 2004, have helped over 250,000 people, work in all 50 states and have an A+ BBB rating. We will work on all 3 bureau reports, dispute as many items as you have, all for a one time activation fee of just $188 and $89/month. We also give you online access to view your items and see the progress we are making on your behalf.