A Warm Welcome to our New Board of Directors

 

We are thrilled to announce the Credit Restoration Institute Non Profit Board of Directors!

Meet our new Board of Directors! We are here to help people like you improve your credit scores and better their lives. Our team of legal, legitimate, and local professionals work closely together and with you to achieve your financial goals. Including the most important part, your creditworthiness.

You may have been one of the many Americans who signed up to receive regular updates on the Biden-Harris Administration's student debt relief plan in the past few weeks. As everyone prepares for the opening of the application window, the Department of Education is sharing critical information on how to protect yourself from scammers during this vulnerable time.

The Biden-Harris Administration has put together a do's and don'ts list to help notice any red flags that might pop-up during your application process. But the most efficient way to protect yourself is by making sure your information stays accurate and up-to-date, according to the administration. 

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For more information and to read the entire list, click here.

Current Mortgage Trends

 A few weeks ago, The Federal Housing Finance Agency announced at the Mortgage Bankers Association’s annual conference that it will now accept two new credit score models, the FICO 10T, and the VantageScore 4.0, for use by Fannie Mae and Freddie Mac. This new expansion has the potential to allow more Americans the opportunity to purchase a home. 

“The enterprises have long relied on classic FICO, and it has met their basic needs, but it is time to recognize the significant innovations that have occurred in credit score modeling,” said Sandra Thompson, director of the FHFA, in Nashville, Tenn.

The institutions Fannie and Freddie were created by Congress, and are backed by the FDIC. They recognize a significant amount of the mortgages born in the U.S., so many lenders abide by the guidelines set out by Fannie and Freddie when they give mortgages to borrowers.

Read the full article here.

Another in the Best Practices Workshop Series!

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

The registration fee is $30 and your attendance includes access to a recording of the webinar, as well as copies of all slides and handouts.

Register 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

 

May Newsletter 2022

 Wishing all the wonderful mothers out there a Happy Mother's Day!

Home prices have skyrocketed by nearly 20% over the last year and mortgage rates have risen faster over the past three months than they have in decades. But the high cost to buy a home is not the only obstacle prospective buyers are facing.

Other hurdles include a lack of available homes for sale that fit the buyer's criteria, bidding wars, and failing to have enough money for a down payment, according to a new study from the National Association of Realtors and Morning Consult.

"Record-high home prices and record-low inventory have made the home buying process exceedingly difficult," said Jessica Lautz, NAR's vice president of demographics and behavioral insights. "Our study shows that, while the inventory crisis is affecting potential buyers of every race, nearly all home buyers agree that homeownership is still an important part of the American Dream."

Read the full CNN article here.

These are REAL results!

In just a few short months we've gotten our client's credit from low 630's to 730's. That's over 100 points in 6 months! When shopping for a home, a credit score shouldn't be the reason one can't buy a home, especially with the right preparations and tools.

You too can improve your creditworthiness.

Are you mortgage-ready? Do you know what your credit score is? Are you a first-time home buyer?

Using our credit repair services prior to contacting a loan officer can ensure the home buying process goes smoothly and painlessly. Even if you do have decent credit, having an even better credit score can increase your chances of better rates. Call us on (804) 823-9601 or (800) 648-5157 today for more information!

"163 points in just two months"

These results speak for themselves!

Credit Restoration is the truth! Robert and his team know what they're doing!!!! Trust the process and you will see things happen. They update you once a month on your progress. My husband's scores have jumped 163 pts in 2 months. Their customer service and team are always friendly, and willing to answer any questions you may have. Just like the other gentlemen stated, this jump put us back in the mortgage approval range. The monthly payments are a small investment on a huge return!! Thank You Credit Restoration!!!!!!

– S. Ford

A Message from Federal Student Aid

"In response to the COVID-19 emergency, we paused loan payments and set interest rates to 0% for eligible federal student loans. On this page, you can find out if your loans are eligible and how this relief affects your loans."

Read the full announcement 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

October 2021 Newsletter: Bad Credit is Scary!

 

A message from Robert Linkonis Sr., Executive Director

You know what's scary? Nearly 2 in 3 adults (64%) say that money is a significant source of stress in their life [source]. Credit-worthiness has a huge affect on our mental health and it can be daunting to navigate the world of credit restoration without support.

Possibly scarier, until recently there was no scientific evidence to support what many individuals feel on a daily basis due to poor credit: anxiety, depression, hopelessness, and suicidal thoughts. We now have proof that debt is a financial stressor associated with these psychological and physiological behaviors [Dr. C.K. Hughes (2021) The Impact of Credit Worthiness].

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!

Breaking the cycle of bad credit is a difficult and long process.

You can work to pay down your credit balances and ask about an increase to your credit limit (not to charge more, but to lower your credit utilization ratio!) but these things can take a long time to make a difference.

Checking your credit report for errors and disputing accounts with incorrect or unverifiable items is how we can help you! But we won’t stop there. 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!

Celia L. Powell, CPA is an accountant and consultant, practicing professionally beginning in 2009. Celia brings a unique approach to her accounting practice by utilizing mindfulness practices along with traditional business methods to support her clients as they transform and manage their finances. Celia focuses on going beyond the numbers to help her clients reach both their life and financial goals.

Celia received her Bachelor of Science degree in Business Administration from the State University of New York at New Paltz, 1986. She received Certified Public Accountant’s license from the Commonwealth of Virginia in 2009 and has been in private practice since then, serving non-profit organizations, small businesses and individuals.

Ms Powell, most recently began an online platform, used to teach, coach and inspire others to create a financial vision for their money and ultimately become the CEO of their lives.

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

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!

REGISTRATION FEE: $30

Attendance includes access to a recording of the webinar, as well as copies of all slides and handouts.

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.

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

 

August 2021 Newsletter

A message from Robert Linkonis Sr., Executive Director Congratulations Dr. Cathie Hughes!

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. 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!! Credit Education Credit Consulting Credit Report Audit Credit Disputes 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 mail@creditrestorationinstitute.com

A message from Robert Linkonis Sr., Executive Director

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!

Credit Report Audit Credit Disputes

Credit Education Credit Consulting

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!
Mon-Fri 9 a.m. - 5 p.m.
(804) 823-9601 |  (800) 648-5157
mail@creditrestorationinstitute.com

 

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

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Credit Report Security Freezes Are Now FREE

WASHINGTON, D.C. — The Federal Trade Commission (FTC) issued a reminder that, starting today, consumers who are concerned about identity theft or data breaches can freeze their credit and place one-year fraud alerts for free.

Under the new Economic Growth, Regulatory Relief, and Consumer Protection Act, consumers in some states — those who previously had to pay fees to freeze their credit — will no longer have to do so. The new law also allows parents to freeze for free the credit of their children who are under 16, while guardians, conservators, and those with a valid power of attorney can get a free freeze for their dependents.

In addition, the new law extends the duration of a fraud alert on a consumer’s credit report from 90 days to one year. A fraud alert requires businesses that check a consumer’s credit to get the consumer’s approval before opening a new account.

As part of its work to implement the new law, the Federal Trade Commission has updated its IdentityTheft.gov website with credit bureau contact information, making it easier for consumers to take advantage of the new provisions outlined in the law.

To place a credit freeze on their accounts, consumers will need to contact all three nationwide credit bureaus: Equifax, Experian, and TransUnion. Whether consumers ask for a freeze online or by phone, the credit bureau must put the freeze in place within one business day. When consumers request to lift the freeze by phone or online, the credit bureaus must take that action within one hour. If the request is made by mail, the agency must place or lift the freeze within three business days.

To place a fraud alert, consumers need only contact one of the three credit bureaus, which will notify the other two bureaus, according to the FTC.

“Credit freezes and fraud alerts are two important steps consumers can take to help prevent identity theft,” the regulator stated on its website. “Identity theft was the second biggest category of consumer complaints reported to the FTC in 2017 — making up nearly 14 percent of all the consumer complaints filed last year. Consumers who believe they have been the victim of identity theft can report it and receive a personalized recovery plan at IdentityTheft.gov.”

Visit the Credit Restoration Associates Website 

See Company President Robert Linkonis's latest TV interview on WRIC Channel 8: https://www.wric.com/news/politics/capitol-connection/va-sues-online-lender-alleges-illegal-predatory-loans/1160292086

Credit Repair Franchise Opportunity: https://www.crafranchise.com

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Credit Expert Teaching for Longwood University SBDC

It was an honor teaching three classes for Longwood University SBDC. There should be more education about business credit and personal credit in our schools.

For a full transcript of each of the two hour classes, please send an email to me requesting them: robert@creditra.com.

To discuss any credit issues, you can reach me at the office: (804) 823-9601. There is never a charge for good advice.

Robert W Linkonis Sr

President

Credit Restoration Associates

Alliant Business Credit & Funding

Trending Data - The New Way that the Credit Bureaus Rate You.

The History of FICO

Visit the Credit Restoration Associates Website 
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