Saturday, December 13, 2008

The CRA Credit Restoration System

CRA has always delivered premium credit resoration services.

Our process involves both systematically disputing innacurate or obsolete information from a client's credit file and educating the client in the responsible uses of credit.

While we are having any errors in your credit report removed, we will work with you on your core credit problems. By the end of the program, our goal is for you to achieve "true credit literacy."

We will find out who you owe, how much you owe and when the payments are due.

We will also help you get organized, we will work with you to develop a budget, and then we will teach you how to maintain your good credit over the long term.

The CRA Credit Restoration System is designed to not only improve the immediate outlook of your credit profile, it is also to teach you the key ingredients in building, developing, and most importantly maintaining positive credit over the long term.

To realistically develop a quality credit profile over the long term, we must create habits of behavior that mirror those who have excellent credit.

We can not fix people, but we feel we can encourage, direct, and educate our clients, so they have the proper “road map” to follow when our service is finished.

The only long term solution once our repair process is finished is for our clients to apply these habits of true credit literacy into their daily lives.

We are not just credit experts, we are credit teachers.

We look forward to helping you!

At Credit Restoration Associates, we pride ourselves on providing the highest quality of credit repair service, while maintaining the ethics and integrity required. By strictly adhering to the standards and practices outlined by the Federal Trade Commission we can offer our clients the very best service and still provide Low Cost solutions.

Get more information today by visiting our website.

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Saturday, December 6, 2008

Avoiding Scams in Credit Repair

Following is a list of things to aviod while researching credit repair companies. This list is proudly brought to you by Credit Restoration Associates:

The Credit Repair Professional

The credit repair business requires a clear grasp of the interaction of many factors. Credit bureaus, creditors, and collectors are each regulated under their own set of federal laws. There are state laws that may supercede the federal laws. In the background of all of this activity is Fair Isaac and Company that formulates your FICO Score based on the makeup of the information on your report. Credit repair professionals must have a working knowledge of all of these factors and more.

And the Not-So-Professional

True credit repair professionals provide an incredibly valuable service. But there are also those that misrepresent themselves and the services they offer. These deceptive practices will waste your money, and in some cases leave you worse off than ever. Here is our list of the top offences…

Authorized User Alert

Some so-called credit repair companies have been brokering "authorized user" status on credit card accounts. This involves making the customer an authorized user on someone else's credit card to boost the customers FICO score. This is not illegal, but you should be aware that Fair Isaac and Company, in response to this practice, has eliminated authorized user benefits from the new FICO scoring model. According to Fair Isaac, one of the three credit bureaus will begin using the new scoring model in September 2007. The other two credit bureaus will adopt the new model by mid-2008.

The New Identity Trap

There is a busy little credit repair sub-culture that offers to help you establish a new identity by applying for an Employer Identification Number (EIN) which they suggest that you use in place of your Social Security Number. This amazes us! And it is a serious crime that could put you in prison. Steer clear.

Promises Promises

Watch out for companies that guarantee results such as a specific increase in your credit scores in a specific period of time. Professional, reputable credit repair companies can produce dramatic results! But given the fact that there is no way to predict the responsiveness of the credit bureaus, creditors, or collectors it is inappropriate to make such promises, and a sure sign of bad business.

The One-Dimensional Credit Repair Problem

Beware of credit repair companies that offer credit bureau disputes, and nothing more. They are most likely using software that simply pumps out dispute letters - repeatedly. This one dimensional approach to credit repair is certain to produce disappointment. Effective credit repair requires the skill to challenge the bureaus, creditors, and collectors alike; all with the knowledge and understanding of the legislation that governs them, and a grasp of how each change in your report can affect your FICO scores.

Power Corrupts

I’m going to stray a bit from the category of credit repair scams and touch on two of the more egregious offenders in the credit reporting industry. Many people mistake size for honesty. Power can corrupt, and the journey to the dark side is often led by corporate attorneys who constantly test the limits of consumer’s tolerance. Credit repair can be tricky enough, but getting hoodwinked by the credit bureaus can be downright discouraging. Here are offenders that we encounter on a daily basis.

False Credit

Every day untold numbers of consumers go to TransUnion's "True Credit" website and pay for what they believe to be their credit scores. What they get are deceptively named "TrueCredit" scores which vary significantly from the FICO scores used by lenders. Here is the (almost impossible to find) small print from the TransUnion website. "TrueCredit is not connected in any way with Fair, Isaac and Company; the credit score provided here is not a so-called FICO score. The credit scores of TransUnion may not be identical in every respect to any consumer credit scores produced by any other company."

Not a Free Credit Report

Are you starting your credit repair effort? You can get all three of your credit reports for free, one time per year, from AnnualCreditR Don’t be fooled by Experian's website! Here is the fine print: "When you order your free report here, you will begin your free trial membership in Triple AdvantageSM Credit Monitoring. If you don't cancel your membership within the 30-day trial period, you will be billed $12.95 for each month that you continue your membership." And it may not be so easy to cancel. The Office of the Attorney General of Florida lists the following issues in their investigation of Experian: "Deceptive advertising, misleading domain name, and failure to honor cancellations in violation of Chapter 501, Part II, Florida Statutes (Florida Deceptive and Unfair Trade Practices Act)."

Get more information from a reputable credit repair firm. Contact Credit Restoration Associates at 1-800-671-1454 or visit their website at http://www.CreditRA.com

Wednesday, December 3, 2008

Free Credit Repair Tips to Raise Your FICO Scores

Good advice from Blog Talk Radio:

Your FICO score is the same as your credit score (FICO is short for Fair Isaac Corporation). Your score is based on information about you from companies that gave you credit in the past. In this article, we provide some free tips for people with low FICO scores.

The first challenge is to determine if your credit score is considered low. FICO scores range from 300 to a perfect 850. Anything under 700 could stand a some improvement. After all, your credit score determines how high an interest you'll pay on your loans, credit card balances, and your home mortgage. The higher your fico score, the lower the interest rates you'll be offered.

Free Credit Repair Tip #1.

Monitor your credit report. You can get a free copy of your credit report every 12 months (go to annualcreditreport.com). But since there are three major credit reporting bureaus (Experian, TransUnion, and Equifax), if you request a report from one of them every four months, you will be able to monitor your reports over the course of a full year. The purpose of monitoring your credit reports is to look for any inaccurate information and then work with the credit bureaus to get it removed.


Free Credit Repair Tip #2.

Pay down, but not off, your credit balances. Your FICO score will improve as you start paying down any large balances on your credit cards and other debts. But here's the tip: do not pay off the entire balance. Leave a relatively low balance to demonstrate to potential new lenders that you can handle credit in a responsible way.


Free Credit Repair Tip #3.

Secured credit cards can help. If your FICO score is too low, you probably have trouble getting a credit card. There is a type of card, called a secured credit card, that you can obtain - for a price. Secured credit cards typically require a cash deposit. For example, if you put $500 in your secured account, you can charge up to $500. So, why not just spend the cash? The answer is that using the secured credit card will raise your credit limit, and help your credit rating. But shop around for the best deal - some secured cards have high fees.


Free Credit Repair Tip #4.

Get a sub-prime merchandise card. If the question is "how can I raise my high credit limit," then sub-prime merchandise cards may be the answer. These are nothing more than a card attached to a line of credit that allows you to buy merchandise from a specific vendor. You're required to put down a deposit on whatever you purchase, and the remaining balance is financed on the card. This new line of credit is reported to the credit bureaus, and your credit score will reflect this good news.


Free Credit Repair Tip #5.


Try the "piggyback" method. If you are a married woman with a low FICO score and your husband has good credit, read on. You can leverage his credit with the piggyback method. It lets you build credit in your own name, and at a much faster pace than if you had to build it all by yourself. Have your husband add you as an "authorized user" or "secondary account holder" to his account. You may find his entire account history gets posted to your credit report. However, the creators of the FICO score have announced they are changing the way their scored models treat "authorized users," so don't expect miracles.

If you take the time and effort to apply some of these free tips, you will be rewarded with better credit, and a more comfortable lifestyle.


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Tuesday, November 25, 2008

Now is the Time for Credit Repair

This is an excellent article by James W. Kemish. It inspires excellence in the credit repair professional. With CRA, you can be assured that you will have professionals of the highest level working for you. Call today for more information 1-800-671-1454 or go right to the website by clicking HERE:


The quality of your credit has never been as important as it is today. Lenders have tightened their guidelines and interest rates are now determined by new Risk-Based Pricing models; the lower your credit score, the higher your rate, and every single point can make a difference. People everywhere are turning to credit repair professionals to help them clean up their credit reports and optimize their credit scores.

The Importance of Professional Help

There is a good reason that so many people are reaching out for credit repair help. There was a time when it was enough if you paid your bills on schedule. Those days are over. The advent of the complicated FICO credit scoring model has made a science of credit score optimization, while the complexity of the credit reporting system has made it more difficult than ever to identify and correct errors.

How to Find the True Credit Repair Pro

Credit repair is no longer a simple matter of spotting an error on your credit report and disputing it with the offending credit bureau. A working knowledge of the Fair Credit Reporting Act is a bare minimum requirement, while your credit score is dependent on many subtle factors, most of which have nothing to do with your ability to make your payments on time. It’s a new world and the right help can make all the difference. Here are the essential qualifications to look for in a credit repair professional.

Knowledge of the Laws

A credit repair professional has an intimate knowledge of the laws that govern all of the participants in the credit reporting system. The credit bureaus are bound by the Fair Credit Reporting Act, collectors are governed by the Fair Debt Collection Practices Act, and state statutes of limitation will contribute significantly to the negotiability of collections.

Familiarity with Lender Remedies

Truly effective credit repair often must look beyond the credit bureaus and include lender cures and rehabilitation opportunities. Many lenders offer attractive programs that can get you back on track and even eliminate bad marks from your credit report. The credit repair professional will be able to guide you through the process of approaching creditors about these opportunities as appropriate. This multi-dimensional approach will insure that you get the best possible results.

An Understanding of the FICO Scoring Model


There are many variables involved in the process of credit score optimization, and everything matters; payment history, account balances and usage, age of accounts, account types and even the mix of accounts. A credit repair professional has in-depth knowledge of the FICO scoring model and will provide you with everything you need to know to manage the content of your credit report, strike the proper balance, and get the most out of your credit score.

Help With Rebuilding Credit

It is not unusual, after a period of financial stress, to have little or no open credit. Your credit scores are based on both the positive and the negative information on your credit reports. Effective credit repair must address both parts of the equation simultaneously. To focus only on removing erroneous derogatory information from your credit report will leave half of your credit repair potential untapped. A credit repair professional will help you rebuild your credit and manage your new debt for the best possible credit score results.

Putting it All Together

The genuine credit repair professional will address all aspects of your credit to insure that you get the best possible results. Everything necessary will be done to clean up your credit reports, improve your credit scores, rebuild your credit, and make you as lender-ready as you can be. In selecting a credit repair service make sure that their program covers every base. And trust yourself. Pick up the phone and interview your prospective choices before signing up. Write down a list of questions and ask away. Your credit is too important not to take the time to make the right choice. Good luck!

Copyright © 2008 James W. Kemish. All Content. All Rights Reserved.


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Friday, November 14, 2008

Protecting Your Credit Score During the Holidays

With the holiday shopping season about to kick off, it’s important to understand your financial situation before heading to the stores so that you can create a sensible budget. By shopping smartly, you can take steps to make sure your credit score doesn’t suffer for the sake of the season. That way you can remain merry long after the holidays are over.

Shop Smart

There are a number of steps you can take while shopping this season to protect your credit score during the holiday rush. First, it’s a good idea to set boundaries. If your score is lower than you would like — or even if you want to maintain it — it’s important not to spend outside your means. A good rule of thumb is to try to keep your credit card balances well below 35% of your total credit limits. If you know it’s hard for you to resist buying just "one more thing," try paying with cash. That way, you’ll be more likely to stay within the budget you set. And, as appealing as it can be to save 15% on your holiday purchases, it’s best to avoid retail credit card offers. Opening too many lines of credit can negatively impact your credit score and could ultimately cost you more than you’d save.


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Thursday, November 13, 2008

What bad credit really costs you Part 1

It's not just a number

Failing to take steps to improve your credit score could cost you hundreds or thousands of extra dollars on a home loan, a car payment or a credit card or insurance bill.

Sure, you know your credit score can affect everything from whether you qualify for a mortgage to whether an employer hires you, but have you ever made a plan to consciously improve your score? If not, it can be costing you dearly.

"When it comes to mortgages, auto lending and credit cards, the higher your score, the lower the interest rate you're going to pay," says Barry Paperno, manager of customer service for credit-scoring company Fair Isaac, which created the widely used FICO credit score. So the time and effort it takes to improve your credit score could save you hundreds of thousands of dollars over the course of your lifetime.

Loans and scores

For most people, a mortgage loan is where they'll reap the greatest rewards from an improved credit score.

"For the past two or three years, mortgages have been the lowest in 30 or 40 years, but that doesn't apply to everybody," says Janette E. Jones, mortgage consultant for American Home Mortgage in Bethesda, Md. "That applies to people who have excellent credit. Someone who has excellent credit can actually get a fixed-rate loan for 5.5%. However, for people who have less-than-excellent credit -- and I would say that's anything below 650 (on the FICO scale of 300 to 850) -- they're looking at an interest rate that's 1% higher, at the bare minimum."

By Tamara E. Holmes, Bankrate.com


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What bad credit really costs you Part 2

While the median FICO score in the United States is 723, which would yield favorable loan conditions, for those whose score falls way below that mark, the ramifications are costly.

A median of 723 means half the people fall below that score and half have scores higher. More specifically, here's a breakdown of how scores are distributed across the population, according to MyFICO:


Breaking down the numbers: % of population and their score:

2% - 300-499

15% - 650-699

5% - 500-549

18% - 700-749

8% - 550-599

27% - 750-799

12% - 600-649

13% - over 800


According to MyFICO, a division of Fair Isaac, a consumer with a FICO score between 720 and 850 might get a 5.922% rate on a $200,000 30-year fixed mortgage rate. That would give him a payment of $1,189 a month and $228,072 in interest over the life of the loan. A consumer with a FICO score between 675 and 699 might get a 6.584% on the same loan, which would cost him $1,275 a month, with $259,074 in interest over the life of the loan, or $31,002 more.

The consumer with a FICO score between 620 and 674 might get a 7.734% rate and pay $1,431 per month, costing him $315,021 in interest over the life of the loan. That's $55,947 more than the middle-score borrower and $86,949 more than the borrower with excellent credit.

Worse yet, a consumer with a score between 560 and 619 might get an 8.531% rate, pay $1,542 per month and pay $355,200 in interest over the life of the loan. The difference in interest paid over the life of the loan between the first and last example is more than $127,000.

If at first you don't succeed

While the dollar amounts are most striking when it comes to primary mortgages, the effects of lower credit scores are not limited to your purchase of a home. If you want to refinance and pull out some cash to finish your basement or pay off some credit-card bills, your credit score can not only determine your interest rate, but it can also dictate how much of your equity you can cash out. The higher your credit score, the higher the amount you'll be able to pull out. "Someone with a credit score of 580 might only be able to receive 70% of the equity in their home while someone with a 600 might be able to take out more," says Jones.

Likewise, if you want to take out a home-equity loan of $20,000, your credit score could cost you thousands of dollars. According to MyFICO, a consumer with a score between 720 and 850 might qualify for a rate of 7.911% and pay $190 a month and $14,219 over the course of the loan. For that same $20,000, a consumer with a credit score between 640 and 659 might qualify for a rate of 9.486% and pay $209 per month and $17,562 over the course of the loan.

Auto loans can be just as costly for people with lower credit scores. For a $20,000, 48-month auto loan, MyFICO calculates that a consumer with a score between 720 and 850 might qualify for a 6.282% rate and pay $472 per month. That same consumer would pay $2,670 in interest over the four years of the loan. A consumer with a FICO score between 660 and 689 might qualify for an 8.844% rate and pay $496 per month and $3,819 in interest over the course of the loan. That same car cost the second borrower an extra $1,149 -- $23.94 a month -- just because of a lower credit score.

By Tamara E. Holmes, Bankrate.com


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What bad credit really costs you Part 3

The insurance factor

A low credit score can also cost you more when it comes to your auto and home insurance.

Someone with a credit score of approximately 650 or higher could receive a discount of anywhere from "a few percent to 15% or even more" says Robert Hartwig, chief economist for the Insurance Information Institute.

Insurers use credit scores as one of the factors in determining what's known as an insurance score.

"We're not looking to see whether you're worthy for credit; we're trying to find the elements in the credit profile that correlate with loss behavior for insurance," says Hartwig.

Numerous studies have found that people with lower credit ratings file more claims. There are some theories as to why this is so. "Individuals who have credit problems may well be more likely to defer important maintenance on their cars and their homes," Hartwig suggests. "So those bald tires don't get replaced, the brakes don't get fixed, the leaky roof doesn't get repaired and so on and so forth."

The impact of credit scores on insurance scores varies from insurer to insurer and state to state. Some insurers only use insurance scores for screening new customers, while others routinely check the credit of existing policyholders when it's time to renew their policies. But consumers can improve their chances of qualifying for a lower premium rate by keeping their credit score in the mid-600s or above, Hartwig says.

No one wants to throw away money. But by failing to take steps to improve your credit score, you could be giving up thousands of dollars a year. The best way to improve a blemished credit rating is to pay your bills on time and keep debt to a minimum, says Paperno.

"Everyone should work hard to maintain a strong credit rating," says Hartwig. "If you work hard, you build a good credit rating and if you maintain it over time it has many, many benefits."

By Tamara E. Holmes, Bankrate.com


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Tuesday, November 11, 2008

Mistakes Do Happen: Credit Report Errors Mean Consumers Lose

U.S. PIRG Reports

Executive Summary:

The most valuable thing we have is our good name. As consumers, the most common reflection of our reputation as someone who pays bills on time, is trustworthy and financially sound is our credit report. Unfortunately, the information contained in our credit reports, which are bought and sold daily to nearly anyone who requests and pays for them, does not always tell a true story.

Credit bureaus collect and compile information about consumer creditworthiness from banks and other creditors and from public record sources such as lawsuits, tax liens and legal judgements. The three major credit bureaus -- Experian (formerly TRW), Equifax, and Trans Union -- maintain files on nearly 90 percent of all American adults. Those files are routinely sold to credit grantors, landlords, employers, insurance companies, and many others interested in the credit record of a consumer, often (legally) without the consumer's knowledge or permission.

Conversely, consumers rarely check their credit record until after they've been denied or otherwise encountered a problem. Throughout the 1990s, credit report errors have been a serious problem that several states and Congress have addressed.

This is the PIRGs' sixth study on credit report accuracy and privacy issues since 1991. The PIRGs have also participated in state and federal legislative battles to improve credit reporting laws. This report is our first investigation of credit report accuracy since 1996 Congressional changes to the federal Fair Credit Reporting Act (FCRA), designed to improve the accuracy and ease of access to reports, took effect in September 1997.

The findings of Mistakes Can Happen are troubling. An alarming number of credit reports contain serious errors that could cause the denial of credit, a loan, or even a job. Further, some consumers never even received their reports, even after repeated calls.

Among the major credit report accuracy findings of the survey:

Twenty-nine percent (29%) of the credit reports contained serious errors - false delinquencies or accounts that did not belong to the consumer - that could result in the denial of credit;

Forty-one percent (41%) of the credit reports contained personal demographic identifying information that was misspelled, long-outdated, belonged to a stranger, or was otherwise incorrect;

Twenty percent (20%) of the credit reports were missing major credit, loan, mortgage, or other consumer accounts that demonstrate the creditworthiness of the consumer;

Twenty-six percent (26%) of the credit reports contained credit accounts that had been closed by the consumer but incorrectly remained listed as open;

Altogether, 70% of the credit reports contained either serious errors or other mistakes of some kind.

Among the survey's major access to credit report findings:

Of the consumers that did obtain their credit reports, at least 14% of them were forced to call back 3 or more times after receiving busy signals or had to write a letter in order to receive their report; And 12% of the consumers waited two weeks or longer to receive their report once they finished requesting it. It took more than a month for one California man to receive his report.

Overall, 15% of consumers who attempted to participate in the survey either made at least 3 phone calls and never got through or requested their reports but never received them.

Although credit reports contain vitally important information about most consumers, the accuracy of those reports is far from guaranteed. While credit bureaus and creditors have gone to great lengths to ensure that they have the right to collect and compile monstrous lists of information about most of us, mistakes in credit reports do happen, and more often than credit bureaus and, also, banks and department stores (who are often responsible for the mistakes) would like us to think.

Until policymakers and credit bureaus do what it takes to allow consumers to have free and easy access to their credit reports and set tougher standards to prevent and clean-up mistakes, too many credit reports will remain a ticking timebomb of dangerously inaccurate information. And our good names will continue to be at risk, as we pay the price for mistakes made by credit bureaus and other data dealers.

Despite major improvements to the law made by Congress and several states in the last several years, PIRG recommends the following actions:

Improved access to credit reports be granted to consumers. Each national credit bureau should annually and automatically mail a copy of each consumer's report.

Increased duties to ensure accuracy and avoid errors be imposed on banks, department stores and other firms that furnish information to credit bureaus, and that immunity restrictions on consumers' ability to sue these furnishers be repealed.

That the Federal Trade Commission investigate credit bureau compliance with new provisions requiring easier access to credit bureau personnel, especially during normal business hours.

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Saturday, November 1, 2008

Credit Repair Tip - Secured Credit Cards For Overnight Results

Credit repair companies are spread throughout the country – filled with ideas, tips and techniques about how the consumer can rebuild their credit, and repair bad credit history. Yet, one of the most powerful tools that can be used in credit repair is in the hands of the consumer.

Secured credit card are the easy way to create positive credit history. A secured credit card requires - at the beginning of the account - a deposit that will be deposited into a trust. After a specific period of time such as when the credit rating of the consumer improves, or when the account is closed and unsecured credit is opened this amount is given to the consumer or applied to the debt. This deposit which is given to the company is often equal to, or less than the credit limit desired upon the card. Throughout the time in which the deposit is held, consumer get rewarded by the interest gaining and benefits the credit card company as it acts as security for the credit line.

Secured credit cards have many benefits, such as being reported to major credit bureaus on a monthly basis, this way credit fixing can begin immediately, within a month of signing up for the card! This is only one of the reasons - among others - that a credit card is beneficial. Secured credit cards come with all of the conveniences enjoyed with traditional credit cards. As long as monthly payments are maintained, they can increase credit ratings substantially.

Credit fixing is essential to anyone who has had bad credit in the past. Credit is essential to obtain financing on a home or a vehicle, for example, and many other purchases that make life easier. Is not it time that you signed up for a secured credit card and took the road to better credit?

In conclusion, by repairing your credit you get just benefits if you do it right, specialized advise it is always recommendable, just make sure you are dealing with the best credit repair company you can find: Check out Credit Restoration Associates at http://www.CreditRA.com

Tuesday, October 28, 2008

Operation Clean Sweep

Source Article from FTC Website:



The Federal Trade Commission (FTC) is reacting to thousands of complaints across the country by consumers about credit repair companies. As a result, the FTC (along with 24 state agencies in 22 states) launched Operation Clean Sweep.

The FTC is charging 33 companies with violating the FTC Act and the Credit Repair Organizations Act (CROA). The FTC states that these companies made false claims they could remove accurate information from their credit reports. The agency also alleged that the defendants violated the CROA by charging an advance fee for credit repair services.

Here is the list of 33 companies that are being charged with violating the CROA.

Advantage Credit Repair, LLC
Nationwide Credit Services, Inc.
Clean Credit Report Services, Inc.
Successful Credit Service Corporation
Hargrave & Associates Financial Solutions
American Credit Experts
RCA Credit Services, LLC
Good Credit Company
Payneless Credit Repair, LLC
Lee Harrison Credit Restoration
Sherrye Mance and Tiffany Morris
Absolute/Advanced Credit Services
Credit Advisors
Executive Financial Credit Services
Federal Debt Relief Systems
Financial Link Services
7 Steps to a 720 Credit Score - NOT THE 720 CREDIT GURU!!!
Integrity Credit Fix, Inc.
My Purchase Power, LLC
Enterprise Technology Group, Inc. doing business as Ameritrust Financial Card
New Leaf Associates, LLC
Financial Freedom Resources, Inc.
American Credit
Credit Counseling of the First Coast
United Credit Adjusters, Inc.
i3 Solutions
Warren and Associates
Bigger & Better Business Solutions
Affordable Computer Mobile Repair
Clean Credit Report Services, Inc.
Life Changing Credit Repair Services
The Credit Physician
Creditmax Financial, LLC

Operation Clean Sweep also includes three FTC cases announced earlier this year: Home Buyers Consulting Network, Inc., Payneless Credit Repair, LLC, and Lee Harrison Credit Restoration.

How can you avoid turning credit repair into credit despair? Here are a few suggestions from the FTC:

Avoid any company that wants you to pay for credit repair services before they provide any services. It is against the law.

Avoid any credit repair company that will not tell you your legal rights and what you can do, yourself, for free.

Avoid any credit repair company that tells you not to contact a credit reporting company directly.

Avoid any credit repair company that advises you to dispute all of the information in your credit report.

Avoid any company that suggests creating a 'new' credit identity - and then, a new credit report - by applying for an Employer Identification Number to use instead of your Social Security number. That is against the law.

If you follow illegal advice and commit fraud, you also may be subject to prosecution.


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Sunday, October 26, 2008

3 Tips to Choose the Best Credit Repair Service

By Link Robertson

Many credit repair services make it sound as if all you have to do is pay them and your credit report will be fixed. However this is not true, below is a criteria you should use when choosing a service.

Do Not Pay Large Fees

Many services will charge large upfront fees. Instead look for more standard rates such as $179 for a start up fee and then a monthly fee of $100 or less. Some services will charge per action, I do not suggest this as your fees can add up quickly to more than $100 / month.

Also you should avoid a company that says you must make a large upfront payment, these companies are typically not effective services and are looking to make a quick buck at your expense.

Look For Refunds Not Guarantees

Credit repair can not be guaranteed, esspecially upfront. This is similar to a defense attorney guaranteeing that you will be found innocent of a criminal charge - IT CAN NOT BE DONE

I strongly suggest you avoid any service that make a guarantee, instead look for a refund policy or warranty. Many good services will offer a refund if their service is ineffective or you are not satisfied.


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Friday, October 24, 2008

How to Order Credit Reports:

If you have been denied credit, goods, benefits, services or employment within the last 60 days, are unemployed seeking employment, have a fraud alert, or on public assistance, you can obtain a copy of your credit profile by contacting the credit reporting agencies directly by phone.

The telephone number for Equifax is (800) 685-1111.
The telephone number for Experian is (888) 397-3742.
The telephone number for Trans Union is (800) 916-8800.

When you dial these numbers, you will be prompted to enter your social security number and other personal idenifiers. If the system accepts your request based upon the above exemptions, you will receive the respective credit profile within three to five business days.

Alternately - and if you are denied under the above exemptions - you can go online to http://www.AnnualCreditReport.com and order your credit report. This request is a truly free credit report if you have not obtained a copy throgh the central source within the last 365 days.

Either way, please be sure to order all three credit reports each and every time you wish to review your file. Although most creditors report to all three credit reporting agencies, some local or regional creditors and collection agencies may report to only one or two. Ordering all three credit reports will allow a true and accurate review of the history reported at Equifax, Experian and Trans Union.


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About Credit Restoration Associates:

Credit Restoration Associates is a credit service organization specializing in the restoration of consumer credit worthiness and identity theft. We assist consumers in achieving a favorable financial credit profile. Everything we do is legal utilizing laws enacted by Congress to dispute negative, erroneous, obsolete, and/or fraudulent information contained within your consumer credit profile.

Utilizing the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, the Fair Credit Billing Act, and the Fair and Accurate Credit Transactions Act, Credit Restoration Associates will assist a consumer in the submission of disputes electronically, verbally and in writing to the Equifax, Experian and Trans Union consumer reporting agencies in addtion to creditors, collection agencies and third-party record providers. Keep in mind that anything we do, you can do yourself. Where Credit Restoration Associates has the edge is the fact we possess the knowledge and a proven method which yields results.

Unlike most credit service organizations that submit the same written dispute letters monthly, Credit Restoration Associates has devised a strategy whereby disputes are submitted verbally, electronically and in writing over a six month period to credit reporting agencies, creditors, collectors, and third-party record providers reporting negative, inaccurate and/or erroneous information. Utilizing the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, the Fair Credit Billing Act, the Fair and Accurate Credit Transactions Act, in addition to laws applicable to a particular state, Credit Restoration Associates has obtained thousands of deletions and updates for its clients. Credit Restoration Consultants can help remove erroneous and/or inaccurate judgments, liens, bankruptcies, student loans, inquiries, derogatory tradelines, personal identifiers and more! The credit restoration process can take anywhere from 30 days to six months. Most clients see dramatic results in 45-60 days.

Credit restoration is as legal as pleading "not guilty" in a court of law. With that said, though, one must understand that Credit Restoration Consultants is not a law firm and that none of its employees is an attorney licensed to practice law in the state of Florida. As such, Credit Restoration Associates cannot provide legal advice nor represent any individual before any court or in any legal proceeding. In the event that legal representation is required, Credit Restoration Associates may provide an appropriate referral for consultation.

Credit Restoration Associates Hour

Have bad credit? Need credit repair? Care to repair your own credit or even hire a credit service organization? Before you do so, you should tune into the Credit Knowledge Hour with credit repair expert Link Robertson. Link can be heard weekday's on the 9's - both 9:00 a.m. and 9:00 p.m. eastern time - on AM 1140 WRVA in Richmond Virginia. For those listening online, streaming audio can be accessed at http://www.WRVARadio.com by clicking on the listen live link.


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Wednesday, October 22, 2008

Credit Cards

Because of my bad credit, I recently contacted a credit repair company. They claim that, for a fee, they can clean up my entire credit record. Is that true and, if so, how can they do it?

In today's society, where credit cards have become as commonplace as cash, credit purchases have become more and more popular. This means that a greater number of consumers are being plagued with credit problems and bad credit histories. With this surge of bad credit comes the credit repair companies, promising to undo the damage the borrowers have done.

These credit services businesses often make promises to the consumer that they can clean up or repair the consumer's bad credit record for a fee. What these companies do not tell the consumer is that only outdated or incorrect items may be deleted from his/her credit history. The fact is, consumers can do that themselves. They will also promise to obtain credit cards or other extensions of credit for those with blemished credit histories, or with no credit history at all.

Another problem associated with some credit repair companies is the fact that they are transient, operating out of temporary offices or through post office boxes. Many charge the consumer in advance for their services. When the consumer realizes that little or nothing has been done to fix the consumer's credit, the company has often closed or left town, leaving no trace.

The Virginia Credit Services Businesses Act requires credit service companies to register and post a bond with the State Division of Consumer Affairs (DCA). This allows DCA to identify those credit repair businesses operating within the State, and to verify if the businesses are, in fact, disclosing the required information to consumers.

In addition to companies promising consumers they will improve or obtain an extension of credit, the Act also covers companies charging money simply for referring a consumer to another institution for credit. It is illegal for credit repair businesses to charge for this referral if the credit that would be extended is under the same terms as those available to the general public. Exempt from this law are financial institutions insured by the Federal Deposit Insurance Corporation (FDIC) or the Federal Savings and Loan Insurance Corporation (FSLIC), licensed real estate brokers, lawyers, consumer reporting agencies, certain nonprofit organizations and broker-dealers registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission.

Companies also are prohibited by law from making any misleading or untrue statements to creditors or consumer reporting agencies regarding a customer's credit worthiness. The business must provide each potential customer with a written information statement outlining the consumer's rights under the Fair Credit Reporting Act, and giving a complete and detailed description of the services to be performed by the credit services business and the amount due.

Credit Services Businesses contracts must contain a three-day cancellation clause. Under the Act, the credit repair company cannot charge or receive any money until their services have been performed in full.

The Fair Credit Reporting Act

The Fair Credit Reporting Act gives consumers the right to obtain whatever information is in their credit file. If a consumer has been denied credit, the creditor is obligated to disclose the name and address of the credit bureau from which they received the information. The bureau will give the consumer a report on his/her file free of charge if the inquiry is made within thirty days of the credit denial. Consumers can contact the credit bureau if any of the file's contents appear to be inaccurate or incomplete. The credit bureau is required by law to reinvestigate any information on a consumer's credit record that he/she disputes. If the information is proven incorrect, it must be deleted from the file. If the facts are true, however, nothing can be done to have them removed from the record. Most negative information, such as late payment on bills, can be kept on file for seven years. A bankruptcy will remain on record for ten years. Time is often the only way to cure a bad credit history.

Honest Credit Restoration:
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Credit Restoration Associates
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Monday, October 20, 2008

The First Post.

Hello CRA financial valued clients. This is our first post. Remember, the premier credit restoration system is found at: http://www.CreditRA.com



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