Category: Credit Restoration

The Reality of Starting a Credit Repair Business

The devastation of the financial and real estate markets over the better part of the last decade has created a huge market of consumers in need of help with their credit report and increasing their credit score. As a result, many have decided to look into starting a credit repair business.

starting a credit repair business

But just like any other business, if you have never attempted starting a credit repair business before there is a lot of information to gather and knowledge necessary to do it the right way. The credit repair industry, like many others, has a high percentage of people that start the business and quit within the first year. Why is that? And how do you avoid being one of those people? This article will cover the points you need to consider.

Laws and Licensing

There are no licenses you need to have to be in the credit repair business. However, you do have a few laws you must consider. And, these laws may be different in each state. The Credit Restoration Organizations Act (CROA), a federal law, states that a for profit company cannot charge fees before performing credit repair work for a consumer. Although many have come up with creative ways to deal with this law it will affect cash flow for a new business owner. However, attorneys, banks, credit unions and 501(c)3 non-profit companies may charge upfront fees. They are exempt from CROA.

In addition, certain states require surety bonds up to $100,000. You can purchase these bonds for far less than the surety amount but you’ll need to check with your state to make sure you have a bond if one is necessary.

Initial Investment of Starting a Credit Repair Business

There are typically two ways to go with starting a credit repair business. The first is to purchase all the necessary components such as software, a web site, legal documents, training, etc. separately. We’ve estimated this cost to be about $10,000 in the first year although these items can be purchased on a monthly basis. The other way to go is to purchase a franchise. The investment in a credit repair franchise is between $19,000 and $25,000. Don’t be discouraged if you do not have $10,000. We will give you a third alternative below that has a start up cost of less than $500.00.

Fees for Service

In addition to deciding how you are going to charge for your credit repair services (if you cannot charge upfront how are you going to charge?) you must also decide how much to charge. Gone are the days when you can charge $1,500 to $5,000 for credit repair services. There are established, reputable companies out there that charge less than $500.00 for a very effective service. You’ll have to compete with that when starting a credit repair business.

Technology

Consumers today expect that a company will have technology in place to allow them to stay in touch and keep track of what’s happening with the progress of their credit repair process. And, there are companies out there that have obliged. You must provide your customers with the ability to check the status of their account online to be competitive in this industry. Doing this as solopreneur may be an expensive and daunting task.

Skill Set

In order to be effective in this business you have to be good at three things, marketing, sales and administration. You have to be a good marketer. Selling your credit repair service to friends and family may get you started but you must position yourself as a credit repair expert in your area. You have to get the word out in the community by developing relations with other business professionals that may have clients that need your service. You must have an online presence as well. Not just a website but the ability to drive traffic to your web site. You need to have leads coming to you every day.

Then you have to be great at sales especially when you’re new because you have no track record or credibility to fall back on. You have to sell against local and national companies that your prospective customer is going to contact as well. Even if your company has the same credentials and advantages as other companies how good are you at selling and closing sales?

Lastly, you have to be good at credit repair. You have to have the ability to pull credit reports (more below) and analyze those reports. You have to know how to advise the client as to the probability of removing all types of items (bankruptcies, short sales, foreclosures, liens, charge offs, medical bills, student loans, repossessions, late payments and more). You then have to know the correct dispute codes and reasons that a credit bureau will open a dispute about these items. Then you have to track this information and be prepared to challenge each item multiple times for a client. This is no easy set of tasks.

Time

You have to have time to do all that is stated above when starting a credit repair business. Many credit repair business owners get caught without enough time to develop new customer pipelines because they are busy doing the credit repair work for their existing customers. Or, they can’t find the time to service the customer because they are trying to develop new customers.

The Solution

Everything stated above comes from experience. It seems daunting, and if done on your own it is. However, we have developed a system for new credit repair business owners that addresses and overcomes everything we have discussed here. It is a system that has taken care of the laws in all 50 states, has an initial investment of less than $500.00, allows you to charge upfront fees, has the latest technology for you to offer customers, provides you with training on the skill set and mind set necessary to be in this business, and allows you the time to market and sell because the administration work is handled for you. In addition, we help you provide the best, fastest, and most effective credit repair service in the industry. And, you can do business in all 50 states. And, you are provided the top training in the industry. But the best component to this solution is that you can develop other credit repair agencies and earn income from those agencies. It is without question the best opportunity for anyone that desires to start a credit repair business.

For more information visit Credit Repair Business Opportunity

Want to Start a Credit Repair Business? Here Are Some Factors to Consider

We’ve discussed before in a previous blog post, Starting a Credit Repair Business for Under $500, that typically there are two options when starting a credit repair service. The first is to spend up to $25,000 on a credit repair franchise. The other is to piece it all together and buy all the necessary components to begin your business in the credit repair industry. starting a credit repair service

Of course, that previous blog post goes on to share how you can become an Independent Agent with our company and have the best of both worlds. You can own your own credit repair business but not have to start from scratch. Everything is provided for you for under $500.

An Important Question to Ask Beforehand

There is another important decision to make, however. Actually it’s a question you have to ask yourself. The answer to this question will dictate what direction is the best for you to follow. The question is, “why are you getting into this business?” This is a simple question with a complex and very valuable answer. Typically people get into credit repair for one of two main reasons, or both. They want to help people, and/or they want to make money.

If you want to do either or both you must then ask yourself how many people do you want to help? And, how much money do you want to make? If the answer to either of those questions is a lot, or a significant amount then here is the stark reality of this business. You can’t help a lot of people nor make a lot of money on your own.

Starting a Credit Repair Service Takes Hard Work!

In order to help a lot of people in the credit repair business you have to have the time and skills to market and sell your service, and do the administrative work on the back end once you get the clients. The time to do both is almost always under estimated by people that have no experience in this industry. On top of that you have to charge a reasonable fee. The days of charging $1,000 or more for credit restoration are over. There are too many companies out there doing it for far less. If you compete for business charging a similar fee you won’t have enough revenue coming in to make it work.

There is an answer when starting a credit repair service, and we’ve found it. By having other Independent Agents running their own credit repair business and yet getting paid a percentage on what they do while you are running your own business, you can build a large operation on a regional and even national scale. This is a concept that any successful company utilizes. Your income is not just dependent on your own efforts. It’s now derived from the efforts of many others.

In addition, these Agents that are now helping you build your business while they build their own are being trained not by you, but by our training company. In fact, they are being trained by the same people that are training you. The individuals doing the training have all established a credit repair business that is generating at minimum $50,000 in revenue per month over $250,000 a month. This certainly qualifies them to teach you and your Agents how to be successful in this business. They are helping a lot of people.

Additional Factors to Consider

There are so many other factors to consider as well when starting a credit repair service. What are the laws in your state regarding credit repair? Do you have to register with your state and purchase a bond? How are you going to generate enough revenue if you cannot charge upfront fees? By the way, did you know that you cannot charge upfront fees? By becoming an Independent Agent with our company you don’t need to worry about any of this because we have taken care of all state requirements. And, because we are a 501c3 non-profit organization and our staff does all the credit repair work, we (and you) can charge upfront fees. Did you catch that? Our staff handles all the admin work so you have time to get more customers!

If you consider everything you should before entering the credit repair industry you’ll see that our business model is brilliant. It offers you everything you need to build a very large, or even small, credit repair business. You do not have to invest a fortune. You do not have to deal with all the regulations and laws governing the industry. And, you’ll have time to develop a steady stream of customers. You can be in business today.

Pull Your Credit Report and Check These 5 Items

One of the most important things to do regarding one’s finances is to pull your credit report periodically. Learning how your credit usage and payment history impacts your credit score can help you keep your credit score as high as possible. Understanding the factors that can lower your credit score can help you set financial goals.

You can get a free credit report at www.annualcreditreport.com. You are entitled by law to a free credit report each year from each of the 3 major credit bureaus Experian, Equifax and Transunion. Pull Your Credit

When reviewing your credit report, pay close attention to these five areas of information to make sure your score isn’t being adversely affected:

What You’ll Find When You Pull Your Credit

Personal Information

Check your full name and any variations, your spouse’s name, birth date, Social Security number, current and past addresses. If there are misspellings or an incorrect address, these items might have been listed when a lender reported the data inaccurately, and can be corrected. It is important to correct these items especially if you have a more common name as creditors of another person with a similar name, even a relative, may wrongly report their information on your credit report.

Current Accounts

Each of your active accounts, such as mortgage loans and credit cards, will be listed along with the date the account was open when you pull your credit. They will appear as “in good standing” if you’re current on your payments, or “delinquent” if you haven’t paid your full monthly payment due or even show late payments from previous months or years. This information can remain on your credit report for up to 7 years.

Closed Accounts

Closed and inactive lines of credit frequently still appear on your credit report. These items will stay on your credit report for different lengths of time but also up to 7 years.

Inquiries

Hard Inquiries occur when a lender checks your credit as part of the approval process. Having too many hard inquiries could mean that you are overextending yourself which could potentially lower your score. Furthermore, hard inquiries are the result of you requesting additional lines of credit from a lender. If you didn’t authorize the inquiry, this could be a sign of identity theft.

Soft Inquiries are typically made by companies that want to check your credit score to make a decision to market to you their line of credit such as credit card companies, retailers, and car dealers or manufacturers. These soft inquiries do not affect your credit score.

Negative or Derogatory Accounts

When you pull your credit you might see items such as past due accounts, bankruptcies, foreclosures, judgments, charge offs, late payments, tax liens and more. They will almost always appear on a credit report and are typically in a separate section on the report. These items can drop your credit score significantly. Time will lessen the impact these items have on your credit score as they can appear up to 7 years, or in the case of a bankruptcy 10 years. However, this is where going through the credit repair process and leveraging your rights under the Fair Credit Reporting Act may help.

You can find Dale Guiducci of ERA Credit Services on Google+, on Facebook, on Twitter or on LinkedIn

The Best Credit Repair Company in the Country… Is Right In Your City!

Searching the internet for the best credit repair company is a daunting task especially when you then have to call each one to find out how they work, how much they charge, and if they are right for you. In addition, you may not want to work with a company that is outside your area. For instance, if you live in San Diego County wouldn’t it be better to work with a credit repair company in San Diego? Or, Baltimore, the Bronx, Las Vegas, San Antonio, Austin, Tampa, and dozens of other locations. best credit repair company

Key Considerations When Choosing A Credit Repair Company

Geography

You want to find the best credit repair company and you want to find a local company. You can have both. We have Agents in all areas of the United States. Currently we have approximately 5,000 Agents located in all 50 states. Contact us for an Agent in your area.

Track Record

A bit of advice… do not work with a one man or woman operation. I have heard far too many stories of people paying their money and then not being able to contact that person because they went out of business, moved, or something else. Work with an established company that has a track record of being in the business and gaining success for their clients.

Guarantee vs. Promises

Do not listen to promises only pay attention to guarantees that you can see on the company website or in writing. Verbal promises are made by people all the time. They are worth nothing. We offer a Satisfaction Guarantee. If you are not completely satisfied with our service we will refund all or part of your money depending on the number of items we did successfully remove.

Pricing

This is a big point of emphasis in choosing the best credit repair company whether it be in San Diego or any other city in the country. There are 3 pricing models typically used in this industry.

Monthly fees

Some companies charge a set up fee and then a monthly fee until they have performed the work of deleting items from your credit report. Ask yourself this question. Do you think they are motivated to remove your items as quickly as possible or do you think they are motivated to take their time so they can collect more fees from you? People call us nearly every day and tell us they have been paying fees to a company for over a year, perhaps two years and still don’t have the results they are looking for.

Pay Per Deletion

Other companies only charge you once they have removed items from your credit report. Actually, in most cases they do charge an initial fee as well to give you an estimate of the charges once they have pulled your credit reports before you sign up for their service. This may sound good but they typically charge between $25 per item up to $500 per item. The range in fees per item depends on the type of item it is. As an example, an old cable bill might be $25. But a foreclosure or bankruptcy would be $500 per item. Now here’s the kicker and is what you need to be aware of. The charges are per item per credit bureau. So, you actually get charged $75 per item up to $1,500 per item. This pricing method can cost you $2,000, $3,000 and up to $5,000.

The Way We Do It – The Best Credit Repair Company in San Diego and the Country

We charge a one time activation fee of just $188 and then only $89/month. It includes all 3 credit bureaus, as many items as are on your reports, regardless of the type of item it is (cable bill vs. foreclosure).  We provide you with online reporting. You can log in and see the activity on your account 24/7. We send the dispute letters to you for your review so you’ll see that we are working on every item you have right away. We also provide you with othe critical services to increase, monitor and protect your score.

We provide the fastest, most effective results in the industry.

Keeping You Informed

When talking with a credit repair company ask them how they keep you informed of what they are doing for you and the progress of removing derogatory items from your report. If they have no way to keep you updated don’t work with them. We upload a list of all your items that we are working on for you to a password protected web page. You can log into this web page 24/7 and see what’s happening on your account.

This short video will tell you about all about our credit repair company and credit repair service.
Call us today at 619-492-3040 to find out more. Or, text the keyword ERACredit to 71441.

Should I Choose a Local Credit Repair Company?

When people have the choice to do business with a local credit repair company or a national company most of the time they would choose to do business locally. There is simply a comfort level doing business locally. Perhaps the thought of being able to find and visit the company should something not go quite right is a compelling reason. And, we would more likely want to help out a business in our own economy. This is no different when choosing a credit repair service and perhaps these reasons are even more compelling.

Credit Repair Process and Concerns

I was in a similar thought process when I was looking for a local credit repair company to refer to some of our accounting clients. I called several of our local San Diego credit repair companies. I found many companies that were one woman or man operations. I made the decision to not do business with these newer credit repair services because I wanted to make sure they were going to be around for a while. I was looking for a credit repair agency with a proven track record.

Local Credit Repair in San Diego local credit repair

There were two or three local companies that did credit repair in San Diego that had a track record but they were very expensive. I was also looking for an affordable service for my clients. Then I started calling national credit repair companies that had a track record but discovered that most of them were expensive as well. And, I didn’t get the comfort level that my clients were going to receive personal attention.

I had a bit of a dilemma on my hands until I found United Credit Education Services. They had everything I was looking for in a credit repair agency. They had a ten year track record, proven results, an A+ Better Business Bureau rating, a very affordable price, and a customer satisfaction guarantee. There was only one problem. They didn’t have a local representative in San Diego.

A New Local Representative in San Diego

Given the need of so many people in need of local credit repair in San Diego, I eventually made the decision to turn over the operations of my accounting business and represent this company to begin offering consumers in San Diego credit repair. The advantage is that I and my customers had a large staff of credit repair experts in the home office to utilize. Yet my clients also have a local representative that will give them the personal attention they need.

My solution to the problem of not finding a local credit repair company in San Diego was to find the best credit repair company and represent them. If you want to find a service in your specific area, yet you want the experience and track record of a larger company, contact us. We’ll look within our network of credit repair Agents and find you someone that will help you.

Repairing Credit After Bankruptcy

If you are contemplating bankruptcy, have filed bankruptcy but it has not yet been discharged by the court, or if your bankruptcy has been successfully discharged, you are not alone. According to statistics from the Administrative Office of the U.S. Courts over 1.2 million people filed for bankruptcy in 2012. However, you are also going to want to know how to repair credit after bankruptcy.

credit repair after bankruptcy

However, that may not give you a comforting feeling because your credit and credit score has taken a serious hit. It’s true that you’ll soon, if you haven’t already, be receiving credit card and other offers of credit in the mail because those companies know that you cannot file another bankruptcy for a long time. But beware of the interest rates and annual fees being offered especially from companies offering you an auto loan.

Fully Recovering From Bankruptcy

If you want to fully recover after a bankruptcy you can. But you must be proactive. Sitting back and waiting for the bankruptcy and the listings on your credit report from each of your creditors to fall off your report will not help at all. To repair credit after bankruptcy you want to work in two general areas as soon as possible.

Develop Positive Credit

First, you want to develop positive credit. If you can get a credit card (possibly a secured card) with a decent interest rate, do so and use it. Do not put items on your credit card that you cannot pay off each month. Buy your groceries and gas (items you have to purchase anyway) on the card and pay the balance each and every month. You’re trying to demonstrate responsible use of credit. There are other proactive steps you can take as well. If you visit
www.eracreditservices.com and fill out the contact form we will email you a list of several steps you can take to increase your credit score.

Repair Credit After Bankruptcy

Second, you want to go through the process of after bankruptcy credit repair. You should try to remove the derogatory items on your credit report that are dragging your credit score down including the items included in the bankruptcy. You may be surprised to find out that these items do not have to remain on your credit report for 7 to 10 years. If you request it, your creditors (the ones in and outside of the bankruptcy) must verify the accuracy of the listings on your credit report. In many cases, if a creditor is not entitled to any more money from you (as in the case of a bankruptcy, foreclosure, short sale or repossession) they will choose not to respond to this request. Federal law then mandates that the item must be removed from all 3 major credit bureau reports (Experian, Equifax, Transunion).

Would You Fix Your Own Car?

You can do this yourself if you have the time to learn how to do it and the time to actually do self credit repair. But just as most people do not fix their own car, or represent themselves in court, it’s best to let an experienced company go to work for you. Is there a guarantee that your creditor will let it go and not respond? No, but if you do nothing you will be guaranteed that these listings will remain on your credit report for up to 10 years.

Repairing credit after bankruptcy is possible and very worthwhile. To find out more about increasing your credit score and repairing credit after bankruptcy visit www.eracreditservices.com , email info@eracreditsrvices.com , or call 619-492-3040 or 727-222-0120.

Credit Repair Scams, Learn the Facts

When searching the internet one will find a lot of misinformation about credit repair and scary warnings about credit repair scams. A lot of this is based on half truths and comes from people that seem to only want to appear as experts on the topic but haven’t done their homework on the credit repair industry. I would like to clear up some of this and give people the full truth.

credit repair scams

Can a Company Charge Fees Before They Remove Items From A Credit Report?

The quick answer is “no”. According to the Credit Repair Organizations Act (CROA) only 501(c)3 non-profit companies, banks, credit unions and attorneys may charge fees before performing service. However, a nominal account set up fee may be charged to a client by any company. The recommendation here is to check out the company you are about to do business with. How long have they been in business? Are they accredited and rated by the Better Business Bureau? Are they certified by the National Association of Credit Services Organizations (NACSO)? Do local real estate, mortgage companies and banks use them to help their clients?

Can Accurate, Non-Obsolete Items Be Deleted Before 7 years?

Another credit repair scams warning is that items that within a 7 year time frame of the date of the last activity on the account and are accurate cannot be deleted. The credit bureau must remove accurate, negative information from your report only if it is over 7 years old. Bankruptcy information can be reported for 10 years. However, if the creditor cannot or chooses not to verify the information they previously reported on a consumer credit report federal law forces the credit bureaus to remove it.

If the creditor cannot or chooses not to verify the information contained in a consumer credit report within 30 days it must be deleted. The provision of the Fair Credit Reporting Act that says that an item may stay on a consumer credit report for 7 years or 10 years is there to protect the consumer, not punish them. This prevents a late credit card payment or even bankruptcy from hurting a person for the rest of their life. It doesn’t state that it must stay on there under any circumstances. Many creditors choose not to verify an item on a credit report for a multitude of reasons. It is the right of the consumer to ask that the creditor verify these items.

How to Avoid Credit Repair Scams

In review, companies that charge for their services in advance of delivering them are not necessarily bad companies or credit repair scams if they are, in fact, nonprofit. It is important for the consumer to look into the track record of a company (for profit or nonprofit) through the Better Business Bureau and the National Association of Credit Services Organizations (NACSO). Obviously if a company has a poor rating or no rating from the BBB, or is not certified by NACSO then they shouldn’t do business with them.

And, items on a credit report, even though they are accurate, may be deleted from the report if the creditor cannot or chooses not to verify them. A consumer should exercise the rights under federal law to inquire about all items on their credit report that are adversely affecting their credit score and ability to get credit, sometimes get a job, and force them to pay higher interest payments and fees on their purchases.

Call Us to Learn More

This is what we do. We’re dedicated to this business. We are accredited and rated A+ by the Better Business Bureau. We are certified by the National Association of Credit Services Organizations. We have been in business since 2004. We are able to conduct business in all 50 states.

Further, we provide a no obligation, no cost consultation on your specific situation. Take 20 minutes and listen to what we have to say and what we can do to help you. If it makes sense let’s work together.

San Diego Office 619-492-3040
Clearwater, FL office 727-222-0120

Tips on Choosing a Credit Repair Company

You may already know that attempting to clear derogatory items from your credit report is not only possible, but it’s your right as a consumer through the Fair Credit Reporting Act. Erroneous, inaccurate and outdated items can cause your credit score to plummet which can keep you from getting a home loan, car loan or even a credit card. Even items that are more recent and are accurate can be removed if the creditor does not respond to your dispute. But how do you choose a credit repair company to help you?

choose a credit repair company

Consumer Disputes Have Very Low Success Rates

In theory a consumer can dispute these items without any assistance from a credit repair company. The chances of success are very low however. There are several reasons why. You must know the process, know what to put in the letter, know the correct dispute code, and know what to do if the creditor and credit bureau responds stating there will be no change on your credit report. Most often an individual doesn’t have the time to learn the process and continue it through to a successful conclusion.

That is why it’s important to choose a credit repair company that is reputable. They will draft letters on your behalf with the correct dispute code and continue the dispute process for up to a year. They have the expertise and experience to overcome difficulties a creditor may present in the process. And, they will follow through on the process as they have professionals overseeing your account.

How to Choose a Credit Repair Company

However, because of the number of people in need of credit repair a myriad of companies have popped up in the last year or two. Some of these companies may have the ability to successfully help a client but some are run by individuals who have purchased a software program and are suddenly in the credit repair business. There are also stories of consumers getting charged a significant fee only to never hear from the company again.

If you are looking to choose a credit repair company, follow these simple tips. And remember, success leaves clues. If the company of individual you are talking to doesn’t seem legitimate follow your instinct.

  • The company should be in business for 2 to 3 years or longer. If not, that could mean they just recently started in order to take advantage of the need in the marketplace.
  • They should have a Better Business Bureau rating. And that rating should be at least an A.
  • They should have accreditation from a third party national credit services organization. One such agency is the National Association of Credit Services Organizations.
  • The person selling you the service shouldn’t be the person handling the dispute process. If they are that means they are a very small, perhaps one woman/man operation and your account may get buried if they get busy. Also, there is no accountability if something happens to this person.
  • The fee should be reasonable. You should not have to pay more than $500 for a thorough credit repair service from a reputable company. Note- some services seem reasonable because they charge a low fee to remove each derogatory item. However, won’t they may not tell you is that each item must be removed from each of the 3 major credit bureaus. So, if someone has 6 derogatory items on each of the 3 credit bureau reports, and the company is charging $50 per item, that’s going to cost $900.
  • The company should offer a customer satisfaction guarantee.
  • The individual or company should explain that some items, most in fact, will not be deleted from your credit report on the first dispute. In some cases it takes several attempts. They should commit to at least 3 attempts. 5 is optimum.
  • The individual or company should be able to show you examples of success they have had with other clients.
  • There should be a way for you to monitor the progress of your credit repair process online.
  • The individual or company should draft the dispute letters on your behalf but the letters should be sent to the credit bureau by you. You are the one that needs to dispute your items. It becomes far less effective if the letters are not signed by, and sent by you.

If You are Going to Choose a Credit Repair Company
We Hope You Choose Us!
Click to Learn About ERA Credit Services

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

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