Wishing you a joyful Independence Day!

Happy 4th of July!

The Credit Restoration Institute wishes you and your loved ones a fun and safe 4th of July weekend! Check out these family-friendly events happening in Richmond to celebrate the holiday:

• Independence Day Celebration and Blast Fireworks : The Diamond | 6:35pm
• Dogwood Dell 4th of July Celebration : Dogwood Dell (Byrd Park) | Time TBD
• 4th of July Fireworks at Kings Dominion : King's Dominion | 9:00pm

Become a CRI Volunteer!

Are you looking for a fulfilling way to contribute to your community? Tired of being cooped up at home and eager to make a difference? Look no further! We have an exciting opportunity for you to join our team as a volunteer and help us create a positive impact on the lives of individuals in need.

If you're interested and would like to know more, click here for more details.

Student Loan Repayment is Restarting

Student loan payments have been paused for three years and even when the U.S. Department of Education discussed starting the payment process again, it never came to fruition. However, Americans now find themselves faced with the reality of a resume. The Education Department website's states that "payments will be due starting in October," and a recent law passed by Congress will make it difficult to bring action against the order.

“For many borrowers, the payment pause has been life altering — saving many from financial ruin and allowing others to finally get ahead financially,” said Persis Yu, deputy executive director at the Student Borrower Protection Center. Roughly 40 million Americans have student loan debt. A typical monthly bill is roughly $350, when the payments start again it is likely many Americans will struggle to adjust.

Click here to read the full article.

Using Credit Cards to Help with Your Summer Vacations

Summer is here and it's time for vacations! Whether you are planning to take a family, solo, or a romantic trip, lately record-breaking inflation rates are causing travel costs and gas prices to dramatically increase, making it more difficult for just about anyone to afford a trip.

Implementing small but mighty steps like limiting unnecessary spending and cutting back on takeout can help save but don’t bypass the benefits your credit cards may offer to help you get away for less. Click the link below to check out these 12 ways credit cards can help you save on a summer vacation.

Read More

Our custom credit disputes leverage the consumer protection laws and the credit bureaus’ automated codes to help remove or correct unverifiable items.

As our client, we dispute accounts with the bureaus and creditors on your behalf. Using our years of experience, we use the tools you need to move your case forward and get the results you are looking for.

Mortgage readiness and getting pre-approved all imply creditworthiness. You, too, can improve your credit. 

Read More about Creditworthiness




Give us a call today to start your credit repair journey!

Mon-Fri 9 a.m. - 5 p.m. (804) 823-9601 | (800) 648-5157

mail@creditrestorationinstitute.com

CRI Is Seeking Volunteers, Join Today!

Happy Father's Day!

The Credit Restoration Institute wishes you and your loved ones a special Father's Day! Cheers to those important men in your lives.

Become a CRI Volunteer!

Are you looking for a fulfilling way to contribute to your community? Tired of being cooped up at home and eager to make a difference? Look no further! We have an exciting opportunity for you to join our team as a volunteer and help us create a positive impact on the lives of individuals in need.

If you're interested and would like to know more, click the button for more details.

Volunteer Today

Biden Signs Debt Ceiling Deal Into Law

President Joe Biden has recently signed into law the bill that will suspend the nation's debt limit through January 1, 2025, to observe a never-before US default. Pausing the debt limit takes the threat of default off the table until after next year’s presidential election. In addition to addressing the debt limit, the law focuses on non-defense spending, work requirements for food stamp recipients and the use of covid-19 relief funds, among other policy provisions.

“I just signed into law a bipartisan budget agreement that prevents a first-ever default while reducing the deficit, safeguarding Social Security, Medicare, and Medicaid, and fulfilling our scared obligation to our veterans,” Biden said in a tweet, which was accompanied by a short video of him signing the bill.

Click below for more information on the new bill.

Click Here For More Information

Don’t Store Cash in Venmo, PayPal, and Other Payment Apps, Financial Watchdog Warns

The Consumer Financial Protection Bureau (CFPB) advises against storing money in nonbank peer-to-peer payment apps like Venmo, Paypal, and CashApp due to the lack of automatic government insurance. As the popularity of payment apps grows, with over three-quarters of U.S. adults using them, CFPB director Rohit Chopra emphasizes that these services are being used as alternatives to traditional bank accounts but do not offer the same level of fund protection and safety measures.

Read More

Give us a call today to start your credit repair journey!
Mon-Fri 9 a.m. - 5 p.m. (804) 823-9601 | (800) 648-5157
mail@creditrestorationinstitute.com

May Newsletter 2023

Happy Mother's Day!

The Credit Restoration Institute
wishes you and your loved ones a special Mother's Day with the lovely ladies in your lives!

Join Our Membership Committee!

We're looking for passionate people to join our standing committees to offer a helping hand in several business-critical projects as we work to advance our mission of bettering lives through credit restoration. Individuals with any level of skill, experience, or interest in the following topics: branding, social media, program development, financial management, human resources, event planning, or board governance are welcome to apply. The monthly time commitment is estimated at four hours per month including bi-monthly meetings.

Please complete the application below in its entirety and submit by Friday, May 26th. We estimate that this form should take no more than 15 minutes to complete.

In the meantime, please visit our website: www.creditrestorationinstitute.com for more details about the organization. Apply Here

Mortgage Fees Are Changing For Homebuyers Soon

If your summer plans included budgeting for a new home, make sure you prepare for the new changes to the mortgage fees coming this month. According to USAToday, starting May 1, upfront fees for loans backed by Fannie Mae and Freddie Mac will be adjusted because of changes in the Loan Level Price Adjustments (LLPAs). These are the fees that vary based on a borrowers credit scores, down payments, types of home and more. With these changes, borrowers can expect to see differences related to their credit scores and an effect in their downpayment sizes.

"In some cases, people with higher credit scores may end up paying more while those with lower credit scores will pay less," quotes the article. The article focuses on what exactly the fee changes are, the loans the fees are being applied too, why these changes are being made, and if these changes could be seen as positive or negative changes to the potential home buyer entering the market.

If you're looking to buy a home, click the button to learn more.
Click Here For The Full Story

Happy Memorial Day!

The Credit Restoration Institute sends our love and thanks to the family members of those who have graciously served our country. Here are some events happening around the city for you to enjoy over the holiday weekend with family and friends:

Wine and Bundtini Flights : Monday, May 29th 11AM
Sandston Parade: Monday, May 29th 1PM

Real Results!

Our custom credit disputes leverage the consumer protection laws and the credit bureaus’ automated codes to help remove or correct unverifiable items.

As our client, we dispute accounts with the bureaus and creditors on your behalf. Using our years of experience, we use the tools you need to move your case forward and get the results you are looking for.

Mortgage readiness and getting pre-approved all imply creditworthiness. You, too, can improve your credit.

Read More About Creditworthiness Here

Give us a call today to start your credit repair journey!

Mon-Fri 9 a.m. - 5 p.m. (804) 823-9601 | (800) 648-5157

mail@creditrestorationinstitute.com

C​redit Restoration Institute Welcomes Greg Carafello to Board of Directors

North Chesterfield, VA] - Credit Restoration Institute (CRI), a non-profit credit repair agency dedicated to improving the lives of individuals and communities through education and individual counseling, is pleased to announce the addition of Greg Carafello to its Board of Directors.

As President and Co-Founder of Executive Franchise Group, LLC, based out of New York City, Carafello brings over four decades of expertise and skill in the franchising industry, having served as a master franchisee for several leading brands. He is also a Certified Franchise Executive under the Institute of Certified Franchise Executives (ICFE), endorsing the highest standards of quality training and education.
CRI's Board of Directors is responsible for governing the organization through policy and strategic goals creation, fundraising and relationship development, and general organizational oversight.

"We are thrilled to welcome Greg Carafello to our Board of Directors," said CRI's Executive Director Robert Linkonis. "His extensive experience in the franchising industry and commitment to enhancing the professionalism of the field through quality training and education make him an invaluable asset to our team. We are excited to work with him to continue advancing our mission of serving our community through education and individual counseling that results in improved credit scores and better lives."

Individuals interested in learning more about Credit Restoration Institute's programs and services or applying to join the Board of Directors can visit the organization's website at https://creditrestorationinstitute.com/application-for-bod

Contact: Robert Linkonis, Credit Restoration Institute, 31 North Providence Road, North Chesterfield, Virginia 23235 Phone: (804) 823-9601 Email: mail@creditrestorationinstitute.com

Homeownership Down Payment Assistance Program (DPA)

The HOMEownership Down Payment and Closing Cost Assistance Program (DPA) provides financial assistance to first-time homebuyers on adjustable gap terms. This program allows homeowners to purchase homes at or below 80% of the area median income (AMI) and to expect homes that are safe, of quality, and attainable. Assistance is provided in the form of a grant with a mandatory “affordability period” for applicants to continue to claim the house as their primary residence. An income-eligible homebuyer may receive up to 10% or 15% (within the established approved areas by DHCD) of the sales price, plus up to $2,500 to pay for the cost of closing (e.g. attorney’s fee, title insurance, taxes as needs demand).

Eligible applicants: Qualify as a first-time Homebuyer; Receive homeownership counseling from a HUD-certified agency and HUD-certified Housing Counselor; Complete a HUD-certified Homebuyer Education Course through a Virginia Housing or Neighborworks® certified course; Demonstrate that their income does not exceed 80 percent of the AMI; Have a median credit score of 620 or higher and debt to income ratio that does not exceed 43%; Contribute one percent of the sales price of the home from their personal funds if the income is between 50%-80% of the AMI, and if the income is less than 50% of the AMI, they can contribute $500 towards the purchase of the home.

If you are a first-time homebuyer this could be a valuable resource. Click the button to learn more.

Click Here For The Full Report

Current Inflation Trends

According to the International Monetary Fund Global inflation is expected to fall from 8.8% in 2022 to 6.6% in 2023 and 4.3% in 2024, still above pre-pandemic (2017–19) levels of about 3.5%. In their recent January article, they projected the fall of global growth from an estimated 3.4% in 2022 to 2.9% in 2023, then a rise to 3.1$ in 2024.

The possibility of risk is still high but a drop in inflation numbers is still possible. There are many factors that play a role in the outcome of the financial standing of the average consumer such as international health concerns, current military involvement, and stricter financing costs across global markets.

Click the button below to learn more.

Read More

Our custom credit disputes leverage the consumer protection laws and the credit bureaus’ automated codes to help remove or correct unverifiable items.

As our client, we dispute accounts with the bureaus and creditors on your behalf. Using our years of experience, we use the tools you need to move your case forward and get the results you are looking for.

Mortgage readiness and getting pre-approved all imply creditworthiness. You, too, can improve your credit.

Read More About Creditworthiness Here

Give us a call today to start your credit repair journey!
Mon-Fri 9 a.m. - 5 p.m.

(804) 823-9601 | (800) 648-5157
mail@creditrestorationinstitute.com

Fill out this easy form on our website

How Americans and Their Mortgages are Being Affected!

Happy St. Patrick's Day!

The Credit Restoration Institute wishes you and your loved ones a Happy St. Patrick's Day. We hope you have a fun day full of celebration.

Looking for festivities around town to celebrate? Check out some fun options HERE.

Biden’s $25,000 Downpayment Toward Equity Act

A new bill under the Biden administration, known as the $25,000 First-Time Home Buyer Grant, can help first-time homebuyers receive up to $25,000 in cash to purchase a new home. This proposal is one of many first-time home buyer grants and credits moving through Congress.

The act aims to help first-time homebuyers plant their feet, create memories, and generate wealth. "To provide downpayment assistance to first-generation home buyers to address multi-generational inequities in access to homeownership, and narrow and ultimately close the racial homeownership gap in the United States, and for other purposes," reads the opening statement of The Downpayment Toward Equity Act of 2021.

If you are a first-time homebuyer, make sure you know all the options available.
Click here to read the full report and learn more!

Big Corporations are Becoming Landlords

Mortgage rates are steadily climbing, and single-family homes remain in high demand. These factors alone have made the home-buying process anything but worry-free for first-time homebuyers. But lately, many would-be homeowners find themselves face-to-face with big, shrouded investment companies.

These days, it is not uncommon to think that large investment companies are purchasing houses in bulk and converting them into rental homes. A situation like this would mean that large subsets of U.S. homes are being taken off the market, resulting in a more competitive market, fewer available houses, and inflated home prices.

Click here to continue reading

Our custom credit disputes leverage the consumer protection laws and the credit bureaus’ automated codes to help remove or correct unverifiable items.

As our client, we dispute accounts with the bureaus and creditors on your behalf. Using our years of experience, we use the tools you need to move your case forward and get the results you are looking for.

Mortgage readiness and getting pre-approved all imply creditworthiness. You, too, can improve your credit. 

Give us a call today to start your credit repair journey!

Mon-Fri 9 a.m. - 5 p.m. (804) 823-9601 | (800) 648-5157

mail@creditrestorationinstitute.com

Tax Time is Approaching... Don't Be Late!

Happy Valentine's Day!

The Credit Restoration Institute wishes you and your loved ones a Happy Valentine's Day. We hope you have a great day surrounded by those you love.

Make Sure You are Prepared for Tax Season

As owner Robert Linkonis says, “Uncle Sam is the largest debt collector in the country.” Make sure that you pay your taxes or consider calling the IRS and getting on a payment plan. Do not just let it sit out there.

The IRS is reminding taxpayers to take necessary actions during this tax season. When filing, some essential items to consider are whether or not you'll be affected by the tax credit levels and how to avoid refund delays.

Tax time is stressful, so it is crucial you have helpful information to help throughout the process. You can access the full report from the IRS here.

Read More

IN THE NEWS: Keep Your Credit Cards Safe While You Travel.

The holiday season may be behind us, but vacation season is just starting to kick off. Taking a trip is intended to be a time of relaxation and unwinding, making bills and credit card balances the last thing you want on your mind.

Even when traveling, “checking balances more often is probably good advice,” says Nessa Feddis, senior vice president for consumer protection and payment for the American Bankers Association. Think of it as a way to curb unnecessary spending and be aware of security threats that come from being overseas.

Click the button below to learn more about prioritizing your credit during your travels.

Read More  

Real Results!

Our custom credit disputes leverage the consumer protection laws and the credit bureaus’ automated codes to help remove or correct unverifiable items.

As our client, we dispute accounts with the bureaus and creditors on your behalf. Using our years of experience, we use the tools you need to move your case forward and get the results you are looking for.

Mortgage readiness and getting pre-approved all imply creditworthiness. You, too, can improve your credit.

 
Read more about credit worthiness

Give us a call today to start your credit repair journey!
Mon-Fri 9 a.m. - 5 p.m. (804) 823-9601 | (800) 648-5157
mail@creditrestorationinstitute.com

Credit News for the New Year!

Happy New Year!

The Credit Restoration Institute wishes you and all your loved ones a Happy New Year. We hope you are off to a great start accomplishing any new goals.

Download the perfect companion for 2023!

Five tips to quickly improve your credit score.

Your FICO score is nothing more, nothing less than a mathematical formula. Knowing this formula is key to having a great credit score.

Your credit score can be as low as 300 or as high as 850. That means that you have 550 points that you can either gain or lose when it comes to your credit score.

Over the last few years, I found five tips that account for the most significant improvements to your credit score in the fastest time. You can access these tips in the guide below.

Click Here To View Our Free Guide

IN THE NEWS:

With New Interest Rates Coming, Handle Your Debt Now.

With the New Year comes new interest rates even higher than before. "So this is really important. If you're carrying a balance, now's the time to take some action," said Bankrate.com Chief Financial Analyst Greg McBride in a video interview with Yahoo.

Since these new interest rates can increase credit card debt, McBride urges consumers to increase their payments and look at all their options when it comes to their debt, like 0% balance transfer options.

Click the button below to learn more about the upcoming effects of the new interest rates and how you can stay ahead.

Read More






Our custom credit disputes leverage the consumer protection laws and the credit bureaus’ automated codes to help remove or correct unverifiable items.

As our client, we dispute accounts with the bureaus and creditors on your behalf. Using our years of experience, we use the tools you need to move your case forward and get the results you are looking for.

Mortgage readiness and getting pre-approved all imply creditworthiness. You, too, can improve your credit.

Read More About Creditworthiness Here





• Credit Consulting • Credit Report Audit

• Credit Education • Credit Disputes

Give us a call today to start your credit repair journey!
Mon-Fri 9 a.m. - 5 p.m. (804) 823-9601 | (800) 648-5157
mail@creditrestorationinstitute.com

Fill out this easy form on our website