Thursday, July 2, 2015

"Opting Out" Does NOT Increase Your Credit Score

There is an abundance of information and advice regarding credit scores floating around online. Most of it is well-intentioned and much of it is accurate, but there is still a great deal of misinformation polluting the Internet. Sorting myth from reality is a constant challenge. 

Credit card issuers and other lenders can buy prescreened lists of consumer names from each of the three credit-reporting companies and then mail these consumers offers of credit, via the prescreening process described here.

The Fair Credit Reporting Act (FCRA) allows consumers to have their names removed from any of these prescreened lists, a process called “opting out.” When you’ve opted out, the credit bureaus can no longer sell your name as part of any prescreened list.

The myth associated with opting out is that your score will actually improve as a result of you doing so. This is false. Your choice to opt out or not is not even reflected in your credit files at the CRCs, so credit scoring models cannot and do not consider your choice whether to opt out when determining your credit score. Again, the choice to opt out has no direct influence on your credit scores.

The next logical question is, “Could there be an indirect influence on your credit score if you choose to opt out?” The answer is also “no.” The only impact opting out has on your credit reports, which are the sole basis of information used to determine your credit scores, is that by doing so you’ll reduce the number of soft inquiries appearing on your reports. 

Soft inquiries are those posted to your credit reports if your name has been sold by the credit bureaus as part of prescreened lists, and soft inquiries have no effect on your credit score.

Many consumers mistakenly believe that fewer inquiries on a credit report lead to improvement in credit score. That misperception assumes soft inquiries have an impact on your scores, which they do not. Soft inquires are never seen or considered by lenders or credit scoring models, so whether you have one soft inquiry or 100 of them, they have no impact on your credit scores.

If you’re tired of receiving credit card solicitations in the mail, then opting out is a great way to reduce or eliminate them. But if you think opting out will improve your credit scores, then you are mistaken. You will have to pay your bills on time and stay out of excessive debt in order to accomplish that goal.




Saturday, June 6, 2015

CRA / Liberty Tax Affiliate Agreement



Email:  Robert@CreditRA.com for a current PDF copy of the Liberty Tax Affiliate Agreement.



Liberty Tax Franchisees,

It was fantastic meeting everyone at the 2015 convention. I hope that everyone had a great time and made it home safely!

Now, it's time to get back to business as you still need to make money in the off-season. We have the BEST Credit Repair affiliate program in the country.

If you have not signed up... what are you waiting for? Please print, and sign the following affiliate agreement and get back to us as soon as possible. Scan and email or fax to secure: 804-767-1839. REQUEST DOCU-SIGN e-signature HERE: robert@creditra.com subject line: DocuSign Affiliate Agreement.

*** Please include your direct phone number (one that you will answer), and your preferred email address. Also, we need the addresses and numbers of your individual stores. 

Also - depending on your internet browser, the formatting of this agreement might look a little strange. Please email: Robert@creditra.com for a fresh PDF copy of the complete affiliate agreement.





Credit Repair Affiliate Agreement for Liberty Tax Franchisees






This Agreement is between the undersigned Participant and CRA Alliant Companies Inc. D/B/A  Credit Restoration Associates (CRA). Each may be referred to as a “Party” or collectively as “Parties.” Both the Participant and CRA's agreement to the terms and conditions of this Agreement shall be evidenced by the Participant’s activation into the Program (as defined below).

WHEREAS, Participant, using their own systems and trademarks offers tax and financial
related services to customers;


WHEREAS, Credit Restoration Associates, as a preferred vendor for Liberty Tax, provides professional credit improvement solutions (the “Program”);


WHEREAS, Participant desires to make available the Program to its customers, CRA desires to enroll Participant into the Program, and CRA agrees to provide Client account managers, FICO certified credit experts and trained credit improvement processors to perform the work and support to the Participant under the Program;


NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable
consideration, the receipt and adequacy of which are hereby acknowledged, the Parties agree as
follows:


AGREEMENT

1. Effective Date. This Agreement is effective upon the Participant’s signing this Agreement and being enrolled by CRA to offer the Program.

2. Term. This Agreement shall remain in effect until all transactions contemplated under the Program have been finally completed or until CRA otherwise chooses to terminate this Agreement in writing pursuant to its terms.


Page 1 of 5

3. Program Definitions.

            a. "Free Consultation" means that the prospective client will receive a one hour appointment with a CRA certified account manager and credit expert at no charge to the client. The purpose of this consultation is to review the clients credit reports in a secure webinar or face to face setting. It will also determine the clients eligibility for the CRA program.

            b. "Initial Audit / Analysis / Action plan" means that upon qualification for the CRA credit improvement program, CRA will perform a thorough forensic credit report audit, public records search, collection agency audit, and a written action plan containing the entire action plan on how CRA intends to move forward with the client's case. Once this action plan is delivered and accepted by the client,  CRA will move forward doing the work to implement the action plan.

            c.  Monthly results audit's and new action plans are part of the ongoing credit improvement process.

4. Duties and Obligations of Participant. Participant shall perform the following duties during
the Term of this Agreement:

             a. perform all servicing obligations with respect to the Program in accordance with the
                 guidelines established by CRA, and in accordance with industry standards;

            b. advertise the Program as directed by CRA, using only the marketing materials provided to Participant from CRA as an approved vendor;



5. Duties of CRA. CRA shall perform the following duties during the Term of this Agreement:


            a. Provide professional and ethical credit improvement services. This involves client services to set the initial credit report review, complete the review, offer CRA services as the solution, send CRA New Client Enrollment paperwork to client, follow up with completion and return of paperwork, create the initial Audit / Analysis and Action plan, email Action plan to client, receive acceptance from client, complete the first work as detailed in the action plan, communicate expectations to the client and notify Liberty Participant of status.

            b. Notification to Liberty Participant of the status of all CRA clients and prospective CRA clients. Communication will be both verbal and in the form of reports emailed by CRA to Participant on a monthly basis. There will be three individual reports: 1. Prospects in the CRA pipeline.  2. New CRA sign-ups for the previous month.  3. Total number of CRA clients enrolled and their progress status through the CRA program.  

            c. Make payment to Liberty participant by the 5th of the month for clients signed up into the CRA credit improvement program for the previous month. This will be in the form of an ACH draft to recipient on the 5th, or a mailed paper check postmarked by CRA on the 3rd.



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Affiliate program. Referrals who signed up as new clients in the CRA credit improvement program:

                1-3 new clients = $50.00 each.
                4-5 new clients = $75.00 each retroactive to beginning of current month.
                6-10 new clients = $100.00 each retroactive to beginning if current month.
                11+ new clients = $150.00 each retroactive to beginning if current month.   


6. Confidential Information.


            a.  In performing its obligations pursuant to this Agreement, the Participant may, with or
                without consent, gain access to certain confidential proprietary information about the
                Program, including the Program’s marketing, objectives, pricing, completed Enrollment Forms and any other Program documents (collectively referred to as “Confidential Information”).

            b. Section 501(b)(3) of the Gramm-Leach-Bliley Act states that information security
                standards must include various safeguards to protect against not only “unauthorized
                access to” but also the “use of” Confidential Information relating to clients,
                including Enrolled Clients, that could result in “substantial harm or inconvenience
                to any CRA client.” In that regard, Confidential Information includes, but is not limited
                to, clients ‟ names, social security numbers, dates of birth, addresses, number of
                months at address, phone numbers, financial information, or other loans or accounts
                or tax information, bankruptcy, employer names and phone numbers.

            c. Participant shall maintain as proprietary and confidential all such Confidential
               Information and further agrees not to use such Confidential Information, nor to
               disclose such Confidential Information to any third party, except in performing its
               obligations pursuant to this Agreement and as authorized by clients.

            d. Unless prohibited by law, upon termination of this Agreement Participant agrees to
               return all Confidential Information including, but not limited to, all Program materials
               used in connection with the Program, and shall shred all voided, damaged and unused
               documents. Such obligations survive the termination of this Agreement.


7. Limitation of Liability. CRA shall not be liable to Participant or its clients
or agents for any consequential, incidental, indirect or special damages, or the loss of profits,
income or other benefits, arising out of or in connection with this Agreement or the services
performed hereunder; In addition, Participant shall not be liable to CRA or its clients
or agents for any consequential, incidental, indirect or special damages, or the loss of profits,
income or other benefits, arising out of or in connection with this Agreement or the services
performed hereunder.


Page 3 of 5

8. Indemnity. Participant shall indemnify, hold harmless and reimburse CRA, its officers, directors, employees and agents, for all expenses and costs, reasonable attorney's fees, judgments, penalties, damages, direct expenses and other payments in connection with any claims, disputes, controversies or litigation with respect to:
(i) anything wrongfully done or not done by Participant, 
(ii) the violation of any laws, rules or regulations applicable to Participant in connection with the Program, or 
(iii) Participant’s violation of this Agreement.


9. Trademarks. All CRA and Participant trademarks, name and logos remain the property of CRA and Participant Respectively. These (“Trademarks”) shall not be used in conjunction with any advertising, with the exception of those materials provided by or purchased from Participant Tax Service, without written consent from CRA or Participant Tax Services Respectively.


10. Advertising. If Participant elects to create advertising for the Program, Participant agrees to
submit any and all Program training, advertising, and/or marketing material including but not
limited to point-of-sale materials, direct mail pieces, newsletters, radio/television
scripts/video, newspaper/magazine advertisements, internet websites or advertisements,
and/or announcements to Participant Tax Service in accordance with the Participant Tax
Service Operations Manual for prior written approval.


11. Severance. If any provision of this Agreement is prohibited by or deemed invalid under
applicable law, such provision shall be ineffective to the extent of such prohibition or
invalidity, the remainder of such provision or the remaining provisions of this Agreement
will remain enforceable. Any headings or captions are intended solely for the convenience or
reference purposes and do not constitute part of this Agreement.


12. Choice of Law, Dispute Resolution, Jury Waiver, and Class Action Waiver.

            a. Virginia Law. Virginia law governs all claims which in any way relate to or arise out
                of this Agreement or any of the dealings of the Parties hereto.

            b. The Parties will act in good faith and use commercially reasonable efforts to promptly
                resolve any claim, dispute, controversy or disagreement (each a “Dispute”) between
                the Parties under or related to this Agreement. The efforts will include at least one
                face-to-face meeting between the Parties. Any Dispute arising out of this Agreement
                which cannot be resolved by the Parties will be governed exclusively by arbitration.
                The arbitration will be initiated and conducted (except as otherwise provided herein)
                in accordance with the Commercial Arbitration Rules of the American Arbitration
                Association, will be conducted by one arbitrator, and will be conducted in Richmond,
                Virginia. The arbitrator will have the power to award reasonable attorney’s fees and
                costs to the prevailing party in any arbitration, and either party will have the right to
                take appropriate action in a court located in the same jurisdiction where the
                arbitration occurred to enforce any arbitration award.



Page 4 of 5

            c. Jurisdiction and Venue. In any Dispute which in any way relates to or arises out of
                this Agreement, or any of the dealings of the Parties hereto, Participant consents to
                venue and personal jurisdiction in the state and federal court of the city of CRA's’ Corporate Office, presently Chesterfield County, Virginia state courts and the United States District Court in Richmond, Virginia. In any Dispute or suit brought against CRA , including CRA's present or former employees or agents, which in any way relates to or arises out of this Agreement, or any of the dealings of the Parties hereto, venue shall be proper only in the federal court district and division located nearest CRA ’s Corporate Office (presently the U.S. District Court in Richmond, Virginia), or if neither federal subject matter nor diversity jurisdiction exists, in the city or county state court located where CRA ’s Corporate Office is (presently the County of Chesterfield of Richmond, Virginia).


            d. Jury Waiver. In any trial between any of the Parties hereto, including present or former employees or agents of CRA, which in any way relates to or arises out of this Agreement, or any of the dealings of the Parties hereto, Participant and CRA each agree to waive the rights to a jury trial and instead have such action tried by a judge


            e. Class Action Waiver. Participant agrees that any claim it may have against Participant or CRA shall be brought individually and Participant shall not join such claim with claims of any other person or  entity or bring, join or participate in a class action against CRA.


13. Acknowledgments. Participant acknowledges that it has read this Agreement and that Participant is familiar with its contents. Participant acknowledges that no person is authorized to make and no person has made any representations regarding the terms of this Agreement or the Program.



FRANCHISEE SIGNATURE _____________________________   DATE: ________

Printed Name __________________________     Contact Phone Number:_______________

Email Address (one that you check regularly): 

Number of Stores: __________


Store Address(s) for customized marketing materials: 





Mailing Address (to send brochures and marketing materials):  



CRA SIGNATURE                      DATE: