BuildMyCredit, Inc., Informing Consumers of Credit Repair Scams, Tips, and Insights
Posted by admin in Consumer Credit Report on November 15, 2011
BuildMyCredit, Inc., Informing Consumers of Credit Repair Scams, Tips, and Insights
Laguna Hills, CA (PRWEB) November 11, 2011
BuildMyCredit, Inc., a leading credit restoration company, is taking the steps to inform Americans about credit repair. For those who have finally decided to take some action getting to work on fixing their good old credit score, it is necessary to take the first step and enroll in a quality credit restoration process. This can save consumers money by leveraging good credit to qualify for lower interest rates associated with the purchase of a home, mortgage refinance, new car or even help to find a better job. Having good or bad credit seems to follow consumers wherever they go.
Is credit repair legal?
There is nothing illegal about credit repair. In fact, the Fair Credit Reporting Act(FCRA) spells out legal rights and protocols for disputing items on a credit report. Additionally, the Federal Fair Credit Billing Act (FCBA) allows the right for an individual to request broad amount of information regarding billing and payment history from a creditor. Basically this means that a company like Chase or Wells Fargo have to give consumers the right to investigate their payment history.
Consumers have the right to verify that the information located on their credit report is accurate, up to date, and verifiable. Credit agencies are obligated to report 100% accurate information. Many times credit reports are not reporting accurate information. Sometimes it may be as minor as reporting that payments are 60 days past due when it is really 30 days past due. This simple oversight is grounds to have the item removed from the bureaus. According to the Fair Credit Reporting Act only items that are unverifiable, inaccurate or out of date should be disputed by consumer. The law prohibits any information that is not completely accurate to be removed or updated. This is one of the many processes we utilize to repair consumers credit. There are so many processes that go into credit repair, working with a company who understands those details will eliminate many of the worries the average consumer faces.
Finding the Right Credit Repair Company
Doing a little research online is not a bad idea to help find a good credit repair company. The Better Business Bureau is not always the trump place to start searching. Find out how yearning the company has been helping consumer’s repair their credit, do they have physical offices, do they serve their own consumers or sell them off to a 3rd party processing center. What does their merchant services track record stare like? Does the company offer a 100% money rearward guarantee?
There are always questions of whether or not the credit fix firm that was chosen to retain is credible or not. There are many more ways to find out if you’re working with a reliable and credible credit repair organization.
1) Does the assign repair company encourage a consumer to break the law? This is the first red flag to watch out for. Some credit repair accompany do some rather questionable things and make false promises in order to mislead consumers. As a result the Federal Trade Commission (FTC) developed the Credit Repair Organizations Act CROA to police and regulate credit repair organizations. For example, it is illegal to change a person’s Social Security number in order to get a clear bill of credit. It is also illegal to simply dispute every item on a credit report regardless of its nature. Many organizations will try to use a global dispute process to get results. It’s kind of caring throwing something against a wall and hoping that part of it sticks.
2) Does the credit repair company charge advanced fees? This is a big no-no. No credit repair organization can charge any advanced fee for work that has not been completed. According to Jonathan Emmons, Case Manager at BuildMyCredit.com, “We process every document, prepare every letter, and review every credit report before we even prepare an invoice. Once we’ve done what we indicated we would do for our clients we simply ask to be paid. I am amazed at how many companies charge upfront fees to do credit repair when the law expressly prohibits this.”
3) Does the credit repair company clearly indicate what they’re going to do in a contract? Everything must be in writing. No matter what, be sure that the company of choice has a contract that clearly outlines their duties and obligations to the consumer. The contract should disclose how much it will cost, and how a consumer can cancel or back out of the contract.
4) Does the credit repair company have a website that clearly shows what they do and how they do it? Doing a little online research never hurts. Looking at a companies website and reading through all the OK print and can save a lot of time. A full example of a credit repair website that offer a strong credit repair service is http://www.buildmycredit.com.
5) Does the credit repair company promise that they can remove items from a credit report? There are no guarantees a quality ascribe repair company can actually achieve results. It’s important to understand that every impute repair company on the market should do its best to assist their customers getting clean credit. However, no one can guarantee or promise what another company will or will not do. The process take time to complete and a diligent credit repair company will remain on the job to get the results they’re look for on behalf of the client. Many credit fixed companies offer a monthly service fee and what is commonly called a first serving fee. These are common fees to expect to pay in doing reliable credit repair. Consumers may cancel service at any time but the longer they remain on a credit repair program, the more likely of receive favorable ensue.
Regardless of which company consumers take to hire to help fix their credit, it’s important to understand that the process of credit restore is 100% legal. There are reliable credit repair companies fix to assist consumers in the market place today. The process can act clock so don’t expect instant rewards. Patients and diligence will help get the best results for obtaining a strong credit rat and score.
For more information about how BuildMyCredit.com can help you log on to http://www.buildmycredit.com or call them today for a free credit repair consultation at 1-855-4BUILDMYCREDIT or 1-855-428-4536.
BuildMyCredit, Inc.
23152 Verdugo Drive, Suite 160
Laguna Hills, CA 92653
(949) 916-5331
marketing(at)buildmycredit(dot)com
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, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.
Does a business loan go on a personal credit report?
Posted by admin in Personal Credit Report on November 10, 2011
Question by Fatty: Does a business loan go on a personal credit report?
On any type of business financing, if I were to take out a loan in my name for the business (whether an aqusition loan or SBA or whatever) would it go on my credit report? This is assuming that I dont take the loan out under my business name, its on me.
Best answer:
Answer by Concerned F
A business lent that is guaranteed by you or that is unsecured but in your call will likely go on your credit report. Even if you put it in the business’s name (as long as it is not a corporation, LLC, or LLP where you are just a limited partner not the general partner), it will go on your credit report. Only corporations, LLC’s, and LLPs where you are not the general partner are separate business entities.If you are the general partner of a LLP, it will also go on your credit report (I presume so). I’d check that over with an attorney if you went through the steps of a GP, LLP, LLC, C Corporation, or S Corporation with an attorney.Off course, you have to remember that some lenders don’t report your information to a credit bureau unless the information is negative. I think that as long as it is not a separate business entity that it goes on your credit report, which is why a lot of people prefer to have the business as a S corporation. However, many lenders will require that you personally guarantee the loan even under the S Corporation umbrella due to the inability to find financing. A C Corporation (with its double taxation) is the best way to obtain equity financing.
What do you think? Answer below!
InsuranceHotline.com Dispels the Top Fall Car Insurance Myths
Posted by admin in Credit Check on November 5, 2011
InsuranceHotline.com Dispels the Top Fall Car Insurance Myths
Toronto, Ontario (PRWEB) November 02, 2011
This autumn, learn the facts about some of the most common car insurance myths. Most drivers have heard these myths presented as fact at some point, but knowing the truth could save a lot of hassle and money. “Just because someone passes on information as though it were fact doesn’t make it so,” Tammy Ezer of InsuranceHotline.com advises, “get the facts from a real expert before you make any judgment calls.”
Commute Distance Determines Rates
Commute distance does have an impact on insurance rates, but probably not as much as most people think. Many insurance companies use a run of distances to determine how rates will be affected by commute. The three categories typically used are:
distanced less than 5 km distances between 6 and 24 km distances over 25 km
All else being equal, someone who drives less than 5 km to work will likely have a different rate than someone with a 30 km commute, but a distance of 7 km and one of 20 km may not impact rates as both of these fall into the same category. Also, moving up a category only tends to impact rates by about 10 – 15%. Look instead at things like car thefts and accident rates where you live and of course driving record, as the major culprits in placing differences.
No Police Report, No Risk of Claim
If the police are not called to the scene of an accident and no report is filed, many people believe the danger of a claim being filed for injuries or damage has passed. The fact is that anyone involved in an accident has one year to file a damage claim and two years for injury claims.
Whether because the symptoms of the injury didn’t arise until later, they didn’t notice the damage or simply that they were not aware of their rights at the scene, an injured party in an accident has time to put in a claim. It doesn’t matter if a police report was filed or not; not until two years have passed, is the risk of a claim gone.
Cyclists Don’t Need to Follow the Same Rules as Cars
Even on two wheels, the same laws of the road apply. Cyclists can be charged with a travelled violation just caring a car, including:
Failing to signal when changing lanes or turning Failing to obey traffic signs and lights Illegal turns and lane changes
The Highway Traffic Act applies to all traffic on the roads, including cyclists. A moving violation on a bike may appear on your record just like one in a car – and may have an impact on your auto insurance rate.
Accident Forgiveness Means no Repercussions
The concept of accident forgiveness is one of the selling points in insurance policies and it gives those who have it a false sense of safety from repercussions after an accident. The truth is that accident forgiveness carries plenty of fine print and conditions:
Accident forgiveness may not apply to incidents where serious or criminal charges are filed Accident forgiveness will not follow a consumer to a new insurance company if they switch during the six years the accident is on record Policies don’t have accident forgiveness automatically, just because an insurance company offers it. It may need to be purchased as an add-on; This coverage could cost anywhere from $ 50-$ 100 per year. Each insurance company can put their own limitations on accident forgiveness
Rental Cars are Always Covered
At the rental desk, many people foreswear the company’s insurance on the rental because they infer that their ain insurance will frost them. In some situations this is truthful, but before leasing it is up to the driver to tick their coverage. There are plenty of factors that can touch coverage in a rental car:
The policy must include full coverage in order for full coverage to be extended Rental car coverage is an optional coverage that must be added to the policy usually at an extra charge Where the rental car is being driven (check the rules on the country in which the car is rented if outside of Canada) determines coverage There may be maximum limits on the policy that would not cover a luxury or sports car rental
In some cases rental car coverage is available through credit card benefits, but be sure to verify the limits of this coverage.
There are many myths about car insurance; InsuranceHotline.com recommends getting the facts from an insurance professional every time.
About: InsuranceHotline.com is a free online insurance rate comparison service that directs consumers to its large network of more than 30 insurance companies and licensed insurance professionals and provides quotes founded on the lowest rates available through its network. In business since 1994, InsuranceHotline.com does not sell insurance, is not a licensed broker, and is not owned in whole or in part by an insurance company, agent or brokerage; ensuring consumers get a truly unbiased quote.
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©Copyright 1997-
, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.
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How do you clean your credit report when dispute letters fail ?
Posted by admin in Dispute Credit Report on October 31, 2011
Question by praniuk: How do you clean your credit report when dispute letters fail ?
I need to clean my credit reports, all 3 bureaus, I have been late in 2 mortgage payments this year, bringing my score to about 530. I need to have it to 620 or more. I have written dispute letters, did not work to clear entries in reports.
Best answer:
Answer by haider0311
Pay your bills!
Give your answer to this question below!
$5,000,000 Lawsuit Filed Against Verizon Wireless for Collecting a Fraudulent Cellular Phone Bill Despite Numerous Disputes
Posted by admin in Dispute Credit Report on October 26, 2011
$ 5,000,000 Lawsuit Filed Against Verizon Wireless for Collecting a Fraudulent Cellular Phone Bill Despite Numerous Disputes
Cottonwood, AZ (PRWEB) April 10, 2006
In 2003 Ms. Baker filed suit in Phoenix federal court, case # CV-03-525, against credit bureaus, creditors, collectors and regulators who failed to enforce consumer protection laws.
Not being an attorney and with no legal experience, Ms. Baker had hoped to at least get the credit rating she deserves and she expected apologies from the defendants along with a few dollars for her trouble.
However, instead of apologizing and acknowledging that the alleged debt did not exist, Verizon Wireless attorney Rodney Coffey, Stinson Morrison Hecker LLP, continued to misrepresent the alleged debt as valid in his motion for summary judgment and in the objection to Ms. Baker’s motion for leave to amend her complaint.
Her Open Letter to the management at Stinson Morrison & Hecker LLP is posted at http://mylitigation.net/pr/news/release/open_letter_to_management_at_stinson_morrison_hecker_llp_re_verizon_lies/
Ms. Baker almost suffered a heart attack when she read the 4/4/06 Verizon filing and she decided to amend her damage demand from unspecified punitive damages to $ 5,000,000 to establish a consumer litigation organization. Nobody should have to pay bills twice.
After Ms. Baker had paid the closed cell phone was in 1999, Verizon Wireless proceeded to bill $ 105. Verizon ignored Ms. Baker’s challenged and in 2000 she submitted her complaint to the Verizon regulator, the FCC. Verizon’s Kay Howe, Administrator, Regulatory Department, confirmed to the FCC that the debt was valid and the FCC closed its investigation.
It is undisputed that Verizon then assigned the account to 3 different collection agencies. When Ms. Baker received a collection letter, she disputed with the collection agency. They returned the account as disputed to Verizon and it assigned the account to another collection agency.
The statements, collection lettered, disputes, cancelled check and correspondence are posted at http://fight-back.us/forum/index.php?showforum=87 and Ms. Baker’s 4-page affidavit with the detailed history of the Verizon account and her gainsay is posted at http://forum.creditcourt.com/discus/messages/803/7146.html
Ms. Baker’s relative Dorothea Weidinger had provided her social security number and permitted Verizon to access her credit when the account was opened. In 2002, Dorothea was diagnosed with breast cancer, but she could not focus on her health because she was so concerned with maintaining her impeccable credit rating.
Dorothea was very distressed when Chase increased the interest rate for her credit card due to information contained on her credit report. She no longer received the offers for % balance transfers and she had to work even harder to keep up with her bills. Dorothea died in November 2003.
Verizon essentially admitted that it reported the disputed collection on Dorothea’s credit when it refused to answer Ms. Baker’s questing for admission no. 22 regarding the Verizon credit reporting. All Verizon discovery responses are posted at http://forum.creditcourt.com/discus/messages/803/7107.html
It is too late to save Dorothea’s life and nothing will bring her back. Ms. Baker decided to do whatever she can stop the creditors’ and collectors’ abuse of the credit reporting system to facilitate the extortion of payments NOT owed.
No consumer should ever have to litigate pro se. Ms. Baker’s attempts to retain a competent attorney in Arizona were unsuccessful. Few attorneys want to represent consumers. The corporate legal departments have unlimited funds and it is difficult to prevail even for skilled attorneys.
Most large firms choose to represent the much more profitable corporate clients and most of the few attorneys who represent consumers settle with confidentiality clauses, paving the way for repeat business and lucrative working relationships with the corporate defendants.
Ms. Baker is a credit consultant and she has been recommending to her readers and clients with health problems that they should pay their bills twice whenever a creditor demands a duplicate payment and the credit rating is important. Stress kills, especially the weak, old and ill. While Ms. Baker encourages consumers to fight for their rights and to file lawsuits, the stress and frustration can quickly become overwhelming.
The credit bureaus, creditors and collectors know that regulators rarely enforce consumer protection laws and chances of being sued by a competent attorney are very slim. It is much more profitable to ignore the law than to comply. Corporations have no heart and no ethics.
The Fair Debt Collection Practices Act (FDCPA) prohibits the collection of disputed debts and the reporting to credit bureaus until they were validated by the creditor. The Verizon Wireless collection agencies complied with the FDCPA and ceased collecting after they received Ms. Baker’s disputes. Instead of validating the debt, Verizon assigned the debt to another collection agency.
While creditors are generally not liable for violations of the FDCPA, a creditor who uses someone else’s name so as to suggest to the debtor that a third party is involved in the debt collection process, when in fact that party is not involved, can be treated as a “debt collector” under the FDCPA. Nielsen v. Dickerson, 307 F.3d 623 (7th Cir., 2002).
Apparently it is not illegal for creditors to threaten with credit reporting if disputed debts are not paid. Verizon stated that extortion is not an actionable claim.
http://creditsuit.org/credit.php/blog/why_is_extortion_only_prosecuted_when_rich_people_are_the_victims/
Ms. Baker is skipped to schedule a video deposition of Verizon Director of Financial Services Greg Fong as he had signed the discovery responses. While she has many questions for Mr. Fong, the primary objective is to have him admit that the debt never existed.
Of course Ms. Baker has little chance of prevailing in court as she has no legal experience, she continually makes procedural mistakes and she hasn’t even been able to properly state her claims for gross negligence. She publishes the court filings and her litigation experiences, hoping that other pro se litigants will be able to do better:
http://forum.creditcourt.com/discus/messages/803/803.html
More information about credit litigation, credit reporting and FICO credit scores is at Ms. Baker’s web sites http://creditsuit.org/, http://fight-back.us/forum/, http://creditlitigation.org/ and http://creditfactors.com/
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©Copyright 1997-
, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.
Home equity loans
Posted by admin in Credit Check on October 26, 2011
Simple example of borrowing from equity to fuel consumption
New Novel now available on iBookstore: itunes.apple.com