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Is cleaning up my credit legal?
There is absolutely nothing illegal about disputing items on your credit report if you follow the law. When you fill out your Confidential Client Profile, you will select which “reason code” fits best as to why we should legally attack a negative item on your reports. We offer nineteen of the most common reasons we can legally protest a negative item under the law, or you can tell us what other reason may fit. It is your right under the law to challenge negative items on your credit reports that shouldn’t be there (see Fair Credit Reporting Act) and we put up quite a fight for you.
Can you remove bankruptcies, foreclosures, tax liens, judgments or repossessions? Other negatives?
Any negative item may be removed from your reports. And our service gets a higher percentage of deletions than any other company in the United States. It is true that some are harder to remove than others. We get about twice the percentage of deletions that an average company gets and about 40-50% more deletions than law firms. (See a mountain of our recent successes) (updated with new ones from time to time).
What makes a credit repair company legal or illegal under the law?
Laws changed not too long ago at the federal level and in all states. These law changes made almost every single credit repair company and law firm out there comply with the new laws or be considered outlaw organizations by the Federal Trade Commission.
As far as we know, we are one of only five fully legally licensed and bonded credit repair companies in the entire nation. To comply with federal law, we became a 501 (c)3 non-profit organization delivering education on credit and debt to college students. (See the federal law.) State laws are different. In our state, 100,000 in actual cash has been placed on deposit at this state’s licensing agency. We are willing to risk $100,000 of our own cash (we aren’t rich-this is a non-profit) because we know that we are the very best service there is and we wanted to operate completely legally. We don’t want to be at risk for being put out of business by the Federal Trade Commission. Under the law, there should be only five companies operating.
How long will it take to clean up my credit?
We work fast, and that is part of the reason that mortgage lenders and real estate agents across the country make this service their number one choice. We don’t keep you hanging around for a year or two like other services that charge you a monthly fee. What is their incentive to get the work done quickly? The longer you stay on those monthly-fee services, the more money they make. That is why we have a flat fee, and it is thousands of dollars cheaper than most lawyers’ charges.
Statistically, about 90% of the clients that lenders and realtors refer to us become able to buy their home in three to six months. Many lenders take a client off the service in month two or month three or month four and approve them for the loan.
The speed of progress of your case will depend on your participation (sending in credit reports on a timely basis).
Do you offer a warranty for your service?
It is illegal to offer a warranty or a guarantee in credit repair unless a 100% money-back guarantee is offered. Of the 10% who cannot qualify for the loan they want on our service, most continued to have late payments and collections while we were cleaning up their past messes. They simply had not learned their lessons. While we do get about 90% of clients credit-qualified for loans they can afford, refunding those 10% who don’t pay anyone anything anyway would put us out of business—and how would that benefit the 90% good-people we did help?
How much will it cost?
In accordance with federal law, we are one of only five companies in the entire United States allowed to charge any money before service is fully completed. (See federal law.)Yes, we are one of only five firms that fully complies with all federal and state laws to operate legally and charge up-front.
We do have a no-cost credit repair option for people who will be seeking a home loan assuming we can include them in the 90% success rate. If you have a realtor or mortgage lender you are working with, please have them call our sales office Monday through Friday between noon and 8:00 p.m. Eastern Time at 818-247-8109 and we will explain the no-cost credit repair option.
If you do not have a realtor or lender, but wish to obtain a home loan, you may call our sales office yourself about the no-cost credit repair option.
For anyone not seeking a home loan, the flat fee is $649.
Methods of payment.
We accept payments by credit card, debit card, or by personal check or money order or cashier’s check.
Dishonored payments.
Should a payment be returned dishonored by your bank or credit card company, we will redraft the payment and add a $25.00 late fee.
Can I do this myself?
Writing a letter to the credit bureaus is easy. Getting results from the credit bureaus is quite difficult. We have 60 years’ combined experience in the credit industry between our four top people, including Dave Peters who sits on the Board of Trustees (but Mr. Peters receives no wage, salary, or dividend). Don’t be surprised that that the Federal Trade Commission receives more complaints against major credit bureaus than any other business (Vehicle dealers come in second.) These credit bureaus are mostly interested in protecting their profits. Investigating the legal challenges we do for you eats at these profits. The credit bureaus seem to do everything in their power to frustrate and confuse you from making progress in your own credit repair.
Trying to repair your own credit is like being your own lawyer in court; it is possible, and you will be lucky some of the time, but we will get almost three times the results you would, and we’ll get about 40% better results than even the best and most expensive credit repair lawyers.
How does this actually work?
It is hard, hard work. Based on the information you provide, we create a customized strategy for launching a legal attack on the negative credit items that you tell us to. We hit the credit bureaus between their eyes with fantastically clever legal strategies almost no lawyers seem to have thought of. This is why we why we out-perform lawyers. We are expert credit handlers—we are former lenders, real estate professionals, credit instructors and all of the above for Mr. Peters who still teaches lenders, realtors and consumers and sits on the Board.
Step 1: Fill out our confidential registration documents, and then also forward your credit reports.
You begin each cycle by forwarding to us copies of your credit reports from all three of the major credit bureaus. Keep in mind that the credit bureaus will only correspond directly with you, not us. Without receiving these updated reports we won’t know which items were removed successfully. The mail you receive from the credit bureaus should be mailed to our office, not faxed or emailed. The more quickly you do this, the faster we can work.
Step 2: Choose which items to dispute.
Once your credit reports and registration documents are received our staff enters the information into our systems.
Step 3: The legal battle begins!
Your reports are analyzed. A legal strategy is agreed upon. And the attack is launched
Step 4: Wait for the response.
The credit bureaus have 30 days to investigate the legal challenges we have made on your behalf. After that, they will mail to you the results of their investigation, update your credit report and send you a consumer copy of the updated report. It usually takes 30-45 days between the day we send the challenges and you receive an updated report. When you receive a response from a bureau, make a copy of the updated report for your records then send the original to the service center to move your credit repair ahead. We re-analyze your case and decide if any changes to the plan of attack are to be made, and we attack again.
How do I get started?
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