Services
Collections Accounts:
These are accounts which have been sold or transferred by the original creditor to the third party collection company or attorney collectors. In such cases the debt no longer belongs to the original creditor and is considered “charged off”. In some cases the original creditor may have their own internal collection department, but this is not very common.
Despite a collection account being paid or settled reflecting a $0 balance, if the actual rating of this account is marked “paid collection” or “settled collection” it will affect the score negatively. So not only does the credit scoring system rate you on what you owe, but also on the status of the account.
SCORE IMPACT RATING: HIGHLY DAMAGING
EFFECT: NEGATIVE
OUR SOLUTION:
Remove these negative items from the collection company and/or third party records along with credit bureau files, resulting in a complete and permanent resolution. In addition we permanently and quickly stop all the harassment calls and letters.
EXTRA INFO:
The original creditor may charge off (sell) your account after 6 months of non-payment.
Negative accounts / items are reported to the credit bureaus by way of UDF (Universal Data Form.) Which is a form the creditor, collector or attorney completes in order to report your account to the credit bureaus.
If collection account is not paid, the collector or creditor can sue you in court and may be awarded a judgment, garnishment of salary, or freeze of bank accounts.
Late Payments:
A late payment is reported by the creditor to the Credit Bureaus when you are 30 or more days late.
There are 5 ways a bureau may record a late payment: 30, 60, 90, 120, & 190 day lates. The longer the late the worse the impact on your credit score. Each month’s lateness will count as new late mark affecting your score negatively each time.
Payment history is the most important factor when it comes to a good credit score.
SCORE IMPACT RATING: MAXIMUM DAMAGE
EFFECT: NEGATIVE
OUR SOLUTION:
Remove these negative marks from the creditor and/or third party records along with credit bureau files, resulting in a complete and permanent resolution.
EXTRA INFO:
If your payment is due on the 1st, and you are 20 days late, this would not get reported to the credit bureaus and should not affect your score. Although it will get recorded on the creditor’s internal records and affect your interest rate and relationship with them in addition to excessive late fee penalties.
TIP:
The credit rating of someone with great credit (700-850) will be affected less significantly by a rare 30 day late payment than of someone who has consistent lates and derogatory marks and is already on the low side of (450-680). A person who is consistently on time and has a proven track record along with more positive accounts which out weight the one rare negative mark.
Judgments:
These are court orders for payment of debt or monies owed to creditor or other parties who may have sued you and won a judgment against you in court. A Judgment gets reported to the “public record” section of your credit report and can remain there from 3 to 20 years (call us to find out your state’s limits) depending on your state law.
New York Judgments expire after 10 years.
SCORE IMPACT RATING: HIGHLY DAMAGING
EFFECT: NEGATIVE
OUR SOLUTION:
To remove these negative items from the credit bureau files permanently.
EXTRA INFO:
Many states allow judgments to be renewed one or more times, which could substantially extend the enforceability of a judgment, if the creditor is vigilant about the renewals. This can potentially result in a permanent legal obligation until it is paid.
TIP:
A Judgment will affect your ability to purchase a property, get approved for a loan or credit card. In addition, a Judge can order a garnishment of salary and freeze your bank accounts.
Tax Liens:
A tax lien is put on a property by law to secure payment of taxes. Tax liens may be imposed for unpaid taxes owed on real property or personal property, or as a result of failure to pay income taxes or other taxes.
A Tax lien will significantly affect your ability to purchase property and or get approved for loans. In many cases a freeze on your bank account can occur as well as garnishment of a portion of your income as ordered by court judge.
SCORE IMPACT RATING: HIGHLY DAMAGING
EFFECT: NEGATIVE
OUR SOLUTION:
To remove these negative items from the credit bureau files permanently.
EXTRA INFO:
Many states allow judgments to be renewed one or more times, which could substantially extend the enforceability of a judgment, if the creditor is vigilant about the renewals. This can potentially result in a permanent legal obligation until it is paid.
TIP:
A Judgment will affect your ability to purchase a property, get approved for a loan or credit card. In addition, a Judge can order a garnishment of salary and freeze your bank accounts.
Bankruptcy:
Upon filing and being accepted for a bankruptcy process, all creditors to be included in bankruptcy are marked with “Included in Bankruptcy” on your credit report. This not only significantly drops your credit score, but also lets everyone who looks at your credit in present and future know that you are in or have been in a Bankruptcy. This is highly damaging to your credit standing and should be avoided whenever possible.
SCORE IMPACT RATING: MAXIMUM DAMAGE
EFFECT: NEGATIVE
OUR SOLUTION:
To remove these negative items from the credit bureau files permanently.
EXTRA INFO:
New Bankruptcy laws make it much more difficult to be granted a Bankruptcy and many people end up with no results along with damaged credit. In addition a Bankruptcy rating remains for 10 years on your credit report.
TIP:
9 out of 10 times we can help you avoid a bankruptcy and save your credit rating. We don’t consolidate, negotiate, or settle or put you on any payment plans, our approach is very unique and different. Contact us to know how it’s done.
Foreclosure:
Foreclosure is when the mortgage payments for a mortgage have not been paid for a long enough period for the bank to begin process of taking back and selling your property.
Such a rating is damaging to your credit score and to future purchases of real property. It will remain on your credit report for at least 7 years, letting lenders know you have been in a foreclosure.
SCORE IMPACT RATING: HIGHLY DAMAGING
EFFECT: NEGATIVE
OUR SOLUTION:
To remove these negative items from the credit bureau files permanently.
Student Loans:
Most of these loans are federal funds and are under very strict collection policy. Student loans DO NOT expire and can be valid for life.
OUR SOLUTION:
We have means to legally and permanently dismiss this debt without you paying 1 cent to the creditor.
Credit Rebuilding:
After negative item removal and as part of your total credit report health we employ effective and proven methods to get your credit score to the Top quickly.
As you may already know, the credit scoring system was originally invented by The Fair Isaac Corporation (FICO®). FICO® scoring model looks at various different aspects of your credit report to come up with your unique credit score. Our objective is make your credit “FICO® Friendly”, in other words, to make the scoring system rate you highest.
FICO® Scores range from 300-850. Higher is better.
Rebuilding Methods:
1) Credit Balancing:
Detailed analysis of the credit to achieve proper balance in the following categories:
a. Tradeline Types
b. Total credit capacity
c. Length of account history
d. Payment History
2) Seasoned Tradelines (Piggybacking):
This is a very effective method to quickly raise your credit scores. This involves adding large amounts of available and established credit lines to your name regardless of your credit score.
3) Credit Builder Cards:
We have teamed up with banks which open special “credit building” accounts to help our clients re-build credit.
4) Merchandise Cards:
Special credit cards with up to $10,000 credit limit. There are no monthly fees, application fees or annual fees with this account. The purpose is to increase available credit and build a positive payment history.
5) Limit Increase Request:
This should only be done after a good analysis of each account, since asking for a credit line increase will often cause a “hard” inquiry, which in turn can lower the score.
All of the above methods, when intelligently customized for each client result in superb credit score rebuilding. It is not unusual for credit scores to rise more than 100 points in one to three months after this program.
