Category: Credit Restoration

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 backed by accreditation and rated A+ by the Better Business Bureau. We are backed by a certification 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.