Thursday, September 2, 2021

September Newsletter 2021

 

Debt is considered a financial stressor, and is associated with a multitude of psychological, physiological, and general health concerns such as anxiety, depression, hopelessness, and even suicidal behaviors. Dr. C. K. Hughes (2021). The Impact of Creditworthiness on Financial Well-Being, Anxiety, Depression, Hopelessness, and Suicide. [Journal of Accounting and Finance Vol. 21] Omega Graduate School.

Whether it is for a home loan or car financing, we know the frustrations you go through when trying to get inaccurate information removed from your credit reports. We know that these inaccuracies end up as a roadblock to getting credit needs addressed properly.

With us, you’ll have access to trained credit experts who can answer your questions and help you make sense of the complexities of credit.

Get in touch and receive a FREE credit evaluation today!





Wow! These are real results! Our custom credit disputes leverage the consumer protection laws and the credit bureaus’ automated codes to help remove or correct any unverifiable items.

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

Here at Credit Restoration Institute, we will work with you to create a personalized action plan to tackle your bad credit. We follow along with you every step of the way to see the completion of the plan. We know how bad credit scores can affect every aspect of your life and we want to see you reach your financial goals!

Mark Your Calendar!


Get advice on how to establish or repair your business credit as well as funding advice from a credit repair expert!

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Webinar attendees will receive an email with secure log-in instructions prior to the session. You'll be able to submit questions for the speaker during the presentation, and all attendees will receive the full presentation afterward.

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Monday, August 9, 2021

August 2021 Newsletter


A message from Robert Linkonis Sr., Executive Director

Congratulations Dr. Cathie Hughes!



Credit Worthiness


Credit-worthiness has a huge affect on our mental health. For many, having access to basic human needs relies heavily on your credit score. If you have good credit, it may not be something you think about, but those with no credit or credit scores that are less than stellar face higher levels of anxiety, depression, and hopelessness. Until recently, there was no scientific evidence to support what many individuals feel on a daily basis.

Congratulations to Dr. Cathie Hughes, whose paper, The Impact of Creditworthiness on Financial Well-Being, Anxiety, Depression, Hopelessness, and Suicide was published this past July in the Journal of Accounting and Finance.

Click here to read the paper

Here at Credit Restoration Institute, we will work with you to create a personalized action plan to tackle your bad credit. We follow along with you every step of the way to see the completion of the plan. We know how bad credit scores can affect every aspect of your life and we want to see you reach your financial goals!!

Our Services


Meet the Credit Restoration team

Cathie Hughes, Ph.D.


Cathie Hughes, Ph.D.
Director
Credit Restoration Institute
Dr. Cathie Hughes is the Director of The Credit Restoration Institute. Dr. Hughes also serves as the Chief Academic Officer and Dean of Faculty for Omega Graduate school, is a Professor of doctoral social research, communication and leadership courses, and dissertation preparatory courses.

She is a transformational leader who thinks strategically, motivates people to achieve business objectives, builds trusted relationships, collaborates across diverse and multi-functional & multi-cultural teams, and focuses on outcomes, customers, and growth. As a thought leader with strong communication and presentation skills, she contributes to a culture of innovation, collaboration, and partnership, with a willingness to proactively coach, mentor, facilitate, share knowledge, model, and advocate initiatives for positive change. 


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

Fill out this easy form on our website








Wednesday, June 30, 2021

A message from Robert Linkonis Sr., Executive Director


The Credit Restoration Institute




Happy 4th of July from The Credit Restoration Institute Team


Recommendations from The Credit Restoration Institute


What is Credit Repair?

You may find yourself asking, so what exactly is credit repair? Credit Repair is disputing accounts and entries on your credit report that are inaccurate and unverifiable. We dispute these errors directly at the source with the credit bureaus and creditors.

Nearly 2 in 3 adults (64%) say that money is a significant source of stress in their life. [source]

Here at Credit Restoration Institute, we will work with you to create a personalized action plan and follow along with you to see the completion of the plan. We want to see you reach your financial goals!


Our Services: Credit Restoration Institute



Meet The Credit Restoration Institute Team


Executive Director Robert Linkonis, Sr. has spent the last 30 years fixing errors and inaccurate information on credit reports and cannot see himself doing anything differently.

Seeing people’s lives change for the better is what keeps Robert going. “Good credit reduces depression and hopeless feelings. Good credit increases one’s financial well-being and empowers individuals and families.”

Robert loves to travel and spend time with his beautiful wife Nancy. He is blessed with three amazing children and a gorgeous three year old granddaughter.




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



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


 

Friday, September 25, 2020

Latest CFPB News From the National Accociation Of Credit Services Organization (NACSO)

 



CFPB News

A coalition of 21 consumer, faith, and advocacy groups sent the below letter Thursday to Consumer Financial Protection Bureau Director Kathy Kraninger urging her to revoke the permission that the Bureau granted the credit reporting industry to violate the 30-day deadline imposed by the Fair Credit Reporting Act (FCRA) for investigating disputes. In an April 1, 2020 guidance, the CFPB had permitted credit and consumer reporting agencies (CRAs) — and the banks, lenders and debt collectors that report information to the CRAs — to exceed the 30 days due to “reductions in staff, difficulty intaking disputes, or lack of access to necessary information.”

The groups urged Director Kraninger to rescind the permission to exceed the 30-day deadline in part because of a dramatic increase in complaints to the CFPB from consumers alleging delays in resolving their disputes. The letter partially states:

“From the time period of April 1 to September 23, 2020, there were 6,864 complaints in the credit reporting category that are in the subcategory “Was not notified of investigation status or results;” there were 6,262 complaints in the subcategory “Investigation took more than 30 days.” Thus, consumers have lodged over 13,000 complaints just in the past six months alleging that their disputes have not been addressed within the FCRA deadline, if addressed at all. In comparison, there were only 2,000 complaints in both of these two subcategories cumulatively for the same time period in 2019. This means there has been a 550% increase–likely as a result of the CFPB guidance.”

NACSO


Here is the CFPB letter:


 September 24, 2020 

Kathleen Kraninger, Director Consumer Financial Protection Bureau 1700 G Street, N.W. Washington, DC 20552 

Re: Rescinding language in April 1, 2020 CFPB guidance allowing CRAs and furnishers to exceed FCRA deadlines for disputes 

Dear Director Kraninger: 

The undersigned organizations call upon the Consumer Financial Protection Bureau to rescind a portion of its April 1, 2020 guidance entitled “Statement on Supervisory and Enforcement Practices Regarding the Fair Credit Reporting Act and Regulation V in Light of the CARES Act.” We urge you to rescind that portion of the April 1 guidance permitting consumer reporting agencies (CRAs) and furnishers to exceed the statutory deadlines imposed by the Fair Credit Reporting Act (FCRA) for investigating disputes. 

Allowing CRAs and furnishers to violate the statutorily-imposed deadlines imposed by the FCRA is having a significant impact on American consumers. A search of the CFPB complaint database reveals that there has been a dramatic increase in complaints from consumers regarding delays in the processing of their disputes. From the time period of April 1 to September 23, 2020, there were 6,864 complaints in the credit reporting category that are in the subcategory "Was not notified of investigation status or results;" there were 6,262 complaints in the subcategory "Investigation took more than 30 days." Thus, consumers have lodged over 13,000 complaints just in the past six months alleging that their disputes have not been addressed within the FCRA deadline, if addressed at all. In comparison, there were only 2,000 complaints in both of these two subcategories cumulatively for the same time period in 2019. This means there has been a 550% increase--likely as a result of the CFPB guidance. 

Furthermore, it has been nearly six months since the Bureau issued its April 1 guidance based on the disruption from the COVID-19 pandemic. There should no longer be a pressing need for relaxing statutorily mandated deadlines due to “reductions in staff, difficulty intaking disputes, or lack of access to necessary information.” These issues should have been addressed during the last six months. Most states have partially or completely lifted shutdown orders that prevented employees from going to their offices. 

Even if the CRAs and furnishers understandably want to minimize the number of employees in a location, thousands of large and small companies have shifted in the last six months to operating with most of their workforce working from home. If there are privacy and data security issues posed by working from home, multimillion-dollar transnational corporations should have been able to figure this out during the last 6 months. Furthermore, given that the nationwide CRAs often process disputes remotely in foreign countries such as India and Chile, they are already accustomed to sending information overseas and hopefully have data security safeguards in place. To the extent there are furnishers that do not have the data security safeguards needed to investigate disputes using employees at home, these same furnishers should not be actually furnishing information to the CRAs either absent those safeguards. 

These delays or even failure to process disputes are causing real and significant difficulties to American consumers. 

For example, one consumer complains: “It has been over 60 days ago since I've sent letters to this bureau and they are disregarding a regular consumer disputes. I'm stressed and have been sending letters before this and still no response. I am trying to get a house and can not move forward without supplying these results.” 

Consumer complaint to CFPB ID 3811090, Aug 24, 2020 At a minimum, the CFPB should limit the extra time provided to CRAs and furnishers to 15 days, or at most 30 days beyond the FCRA-mandated 30-day deadline for investigating disputes. 

Fifteen to 30 extra days should be more than enough, given that they have had six months to adjust to working in the COVID-19 environment, and the amount of harm to consumers. 

For questions about this letter, please contact Chi Chi Wu at cwu@nclc.org or 617-226-0326. 

Sincerely, 

National Consumer Law Center (on behalf of its low-income clients) Americans for Financial Reform Education Fund Center for Digital Democracy Consumer Action Consumer Federation of America Consumer Reports Delaware Community Reinvestment Action Council, Inc. Demos Missouri Faith Voices Montana Organizing Project National Association of Consumer Advocates New Georgia Project New Jersey Citizen Action Public Good Law Center Tennessee Citizen Action Texas Appleseed Tzedek DC U.S. PIRG Virginia Organizing VOICE - OKC Woodstock Institute 

Tuesday, September 3, 2019

Instructions to File for Settlement from the Equifax Data Breach

This was an email that I received recently. As mentioned in all of the CRA Facebook posts https://www.facebook.com/Financed1,  I ONLY recommend taking the credit monitoring option. You will get 10 years total of credit monitoring from Equifax, which is a much better deal than $125.00. You wont even get $125 actually. If all 147 million people entitled to a settlement request the cash option, everyone would only get 21 cents a piece. Great. So, go ahead and enroll in 10 years of credit monitoring and hope that Equifax will get their stuff straight moving forward.

** Also enroll your family members before January 2020. That is 3 months from now. Get moving!

COURT APPROVED LEGAL NOTICE

If Your Personal Information Was Impacted in the 2017 Equifax Data Breach, You May Be Eligible for Benefits from a Class Action Settlement

Un aviso de este acuerdo también está disponible en www.EquifaxBreachSettlement.com/es
In September of 2017, Equifax announced it experienced a data breach, which impacted the personal information of approximately 147 million people. Equifax has reached a proposed settlement to resolve class action lawsuits brought by consumers alleging Equifax failed to adequately protect their personal information. Equifax denies any wrongdoing, and no judgment or finding of wrongdoing has been made.

If your personal information was impacted in the Equifax data breach, you may be eligible for benefits from the settlement after it becomes final. Under the proposed settlement, Equifax will: (1) pay $380.5 million into a fund to pay benefits to consumers, court-approved fees and costs of class counsel and service awards to the named class representatives, and other expenses; (2) implement and maintain certain data security enhancements; (3) if necessary, pay up to $125 million more to reimburse consumers for out-of-pocket losses resulting from the data breach; and (4) provide certain other relief.
Are You Eligible: You are a class member and eligible for settlement benefits if you are a U.S. consumer whose personal information was impacted by the Equifax data breach. If you are unsure of whether you are a class member, visit www.EquifaxBreachSettlement.com and click the "Find Out if Your Information Was Impacted" button or call 1-833-759-2982.

Benefits: If you are a class member, you are eligible for one or more of the following benefits:
1. Free Credit Monitoring or Cash Payment. You can get free credit monitoring services. Or, if you already have credit monitoring services, you can request a cash payment of up to $125.
The free credit monitoring includes at least four years of three-bureau credit monitoring, offered through Experian. You can also get up to six more years of free one-bureau credit monitoring through Equifax.
If you already have credit monitoring services that will continue for at least 6 more months, you may be eligible for a cash payment of up to $125. The amount you receive may be substantially less than $125, depending on the number of claims that are filed.
2. Other Cash Payments. You may also be eligible for the following cash payments up to $20,000 for:
the time you spent remedying fraud, identity theft, or other misuse of your personal information caused by the data breach, or purchasing credit monitoring or freezing credit reports, up to 20 total hours at $25 per hour.
out-of-pocket losses resulting from the data breach.
up to 25% of the cost of Equifax credit or identity monitoring products you paid for in the year before the data breach announcement.
                      *** Good luck getting ANY part of $20,000. If you are successful in any way, please leave a comment on this blog. Thanks. Good luck!
3. Free Identity Restoration Services: You are eligible for at least 7 years of free assisted identity restoration services to help you remedy the effects of identity theft and fraud.
Important Information Regarding the Proportional Reduction of Benefits. If you request or have requested a cash benefit, the amount you receive may be significantly reduced depending on how many valid claims are ultimately submitted by other class members for this relief. Based on the number of potentially-valid claims that have been submitted to date, payments for time spent and alternative compensation of up to $125 likely will be substantially lowered and will be distributed on a proportional basis if the settlement becomes final. Depending on the number of additional valid claims that are filed, the amount you receive for these benefits may be a small percentage of your initial claim.
How to Get Benefits:

To get free credit monitoring or cash payments, or both, you must submit a claim:
Online at www.EquifaxBreachSettlement.com, or
By mail.
You must submit a claim by January 22, 2020. Certain claims may require supporting documents. If you have already filed a claim, there is no need to do so again. 
If there is still money in the fund after payment of valid claims submitted during the initial claims period that ends on January 22, 2020, there will be an extended claims period lasting for four years. In the extended claims period, you may make certain claims for out-of-pocket losses incurred in the future, including time and money spent trying to address identity theft or fraud related to the data breach.

You don’t need to file a claim to get free identity restoration services.

None of these benefits will be distributed or available until the settlement is finally approved by the Court. If you make a claim for cash compensation, the amount of money you receive may be significantly less than the claim you submit depending on the number and amount of claims that are submitted.
Understanding Your Options:

If you want the Court to exclude you from the settlement class, you must write to the Settlement Administrator by November 19, 2019. List the name of this proceeding (In re: Equifax Inc. Customer Data Security Breach Litigation, Case No. 1:17-md-2800-TWT), your full name, your current address, and the words “Request for Exclusion” at the top of the document. You must sign this request and mail it to Equifax Data Breach Class Action Settlement Administrator, Attn: Exclusion, c/o JND Legal Administration, P.O. Box 91318, Seattle, WA 98111.

To object to the settlement, you must file an objection with the Court by November 19, 2019. For detailed instructions about the process of objecting, visit www.EquifaxBreachSettlement.com.

You must file a claim if you want to receive free credit monitoring or cash benefits under this settlement. If you do nothing, you won’t receive a cash payment or credit monitoring services, won’t be able to sue Equifax for the claims being resolved in the settlement, and will be legally bound by all orders of the Court.
The Court will hold a hearing on December 19, 2019, to consider any objections, and decide whether to approve the settlement, award attorneys’ fees and expenses, and grant service awards to the named class representatives. You may enter an appearance through an attorney, but do not have to. The Court has appointed lawyers to represent you and the class, but you can hire another lawyer at your own expense.

This is only a summary of the settlement. For more information, visit www.EquifaxBreachSettlement.com, or call (toll free) 1-833-759-2982.

This is a Court authorized notice, not a lawyer advertisement
Email Disclaimer
The Equifax Data Breach Settlement Administrator will never ask you to provide sensitive information, such as, your Social Security Number or Tax ID, Bank Account Number, Credit Card Number, Driver’s License or Passport Number, or Password, etc. via email. All email communications sent by the Equifax Data Breach Settlement Administrator OR on behalf of the settlement administrator will originate from info@equifaxbreachsettlement.com, the official email address of the settlement. If you receive an email which you suspect to be fraudulent, do not reply or do anything it instructs you to do, but immediately forward it to abuse@equifaxbreachsettlement.com.


NEXT POST: Active Duty Military are Eligible for FREE Credit Monitoringhttps://creditra.blogspot.com/2019/06/active-duty-military-are-now-eligible.html


BREAKING NEWS:

Credit Restoration Associates participates in Ground Breaking Scientific Research Study Linking "Credit Worthiness" to Factors that Contribute to Suicide. Read all details at link below: 
--------->>>>>>  http://creditra.blogspot.com/2019/03/conclusively-18-month-research-study.html


CRA Resources:

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Credit Repair Franchise:

About Credit Restoration Associates:


Tuesday, June 25, 2019

Active Duty Military are Now Eligible for Free Credit Monitoring

The Federal Trade Commission has finalized the rule implementing a 2018 law that requires the nationwide consumer reporting agencies (CRAs) to provide free electronic credit monitoring services for active duty military consumers.
The Free Electronic Credit Monitoring for Active Duty Military Rule, which will be published in the Federal Register shortly, implements legislation included in the 2018 Economic Growth, Regulatory Relief, and Consumer Protection Act, which amended the Fair Credit Reporting Act (FCRA) by requiring CRAs to notify active duty military consumers about any “material” additions or modifications to their credit files.
The FTC received 19 comments on its proposed Rule, released in November, which defined key terms such as “electronic credit monitoring service” and “material additions or modifications” to the file of a consumer. It also included proposed requirements for how CRAs can verify that an individual is an active duty military consumer, as well as restrictions on the use of personal information and on communications surrounding enrollment in the free service.
The final Rule defines “active duty military consumer” as a consumer in military service who meets the FCRA’s definition of “active duty military consumer,” which requires that the consumer be assigned to service away from their usual duty station, or be a member of the National Guard. While commenters recommended eliminating the requirement that a military consumer be assigned to service away from their usual duty station, the statute limits the Commission’s discretion on this topic. To the extent that Congress intended to provide free credit monitoring more broadly, the Commission calls on Congress to address this issue through additional legislation.
The final Rule also clarifies that National Guard members do not need to be deployed away from their usual duty stations to be eligible for the free credit monitoring. Because the statute does not expressly apply the duty station requirement to National Guard members, the Commission has interpreted the Act as providing the benefit of free credit monitoring to members of the National Guard regardless of whether they are assigned away from their usual duty station.
The final Rule also addresses concerns that active duty military consumers might have to pay to access their credit files after being alerted to an addition or change. The final Rule requires that when a CRA notifies an active duty military consumer about a material change to their credit file, the CRA must also provide that consumer with free access to that file.
The final Rule extends the amount of time the CRAs have to notify an active duty military consumer of a material change from 24 hours to 48 hours. In addition, the final Rule makes certain changes to the definition of “material additions or modifications.”
The final Rule retains restrictions on secondary uses and disclosures of information collected from an active duty military consumer requesting the credit monitoring service. It also bans marketing during the enrollment process until after an active duty military consumer has been enrolled in the free credit monitoring service. The final Rule also prohibits the CRAs from requiring active duty military consumers to agree to terms or conditions, unless such terms or conditions are necessary to comply with applicable legal requirements.
The Rule will go into effect three months after publication in the Federal Register. The Commission, however, will allow the CRAs to comply with certain portions of the Rule by offering their existing commercial credit monitoring services for free to active duty military consumers, for a period of up to one year from the effective date.
The Commission vote to publish the final Rule in the Federal Register was 5-0.
The Federal Trade Commission works to promote competition, and protect and educate consumers. You can learn more about consumer topics and file a consumer complaint online or by calling 1-877-FTC-HELP (382-4357). Like the FTC on Facebook, follow us on Twitter, read our blogs, and subscribe to press releases for the latest FTC news and resources.
NEXT POST:
Credit Restoration Associates participates in Ground Breaking Scientific Research Study Linking "Credit Worthiness" to Factors that Contribute to Suicide. Read all details here: 

http://creditra.blogspot.com/2019/03/conclusively-18-month-research-study.html

CRA Resources:

Credit Repair Virginia: 

Credit Repair Franchise:

About Credit Restoration Associates:

Wednesday, March 27, 2019

CONCLUSIVELY - 18 Month Research Study Linking the Impact of Credit Worthiness to the Suicide Rate..

Research Study linking the Impact of Credit Worthiness to Financial Well Being
*BREAKING NEWS*
The entire Credit Restoration Associates (CRA), team has been extremely honored to have partnered with Doctor Cathie Hughes, PHD, in her Life Changing research study. I still can't believe that it has been 18 months!

This is an absolute, exclusive and truly a revolutionary breakthrough. I look forward to moving this research to the lext level. We are currently obtaining funding to expand the regional study. Subsrcibe to this blog to recieve updates.


Read the complete text of Dr. Hughes's Expanded Abstract of the study in the link below:
https://www.linkedin.com/pulse/research-study-white-paper-cathie-hughes?fbclid=IwAR1ZsKllX8DjdFJZ9fPQ2MbFR6RjWYFw6sgW03x9uAuuZKs7LGCEx4eSpUU


Read down to page 10 of Dr Hughes’s expanded abstract paper. 

It starts to address the “Credit Restoration Intervention” as the direct remedy to remove “financial stressors” that will directly have an impact in the reduction of suicides. .


The ENTIRE credit repair community needs to come together and complete this research. The entire 288 page body of the research study will only be available to the Master Mind Group that should be put together before the end of April 2019.

The entire communication on all details will be done through NACSO's Facebook group. To be a legitimate credit repair organization, you need to be a member of NACSO. It is time for you to "bite the bullet" and join NACSO. https://nacso.org.

Joining is the best thing that you can do if you are serious in the long-term growth of your credit repair company. Please contact me or your NACSO representative to become a member of NACSO, and help participate in this research study. We are collectively going to change the world!!

Next Post:
How To Read an Automotive Equifax Beacon 5.0 Credit Report


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