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

Aprill Newsletter 2022

Credit Literacy Curriculum!

Robert Linkonis is on a mission to get credit literacy taught in schools across the country. He is working to create a curriculum that would be taught to high school seniors, explaining more than just financial literacy – like how to balance a checkbook – but also what is credit, how can you build it, and how it can affect your future.

Executive Director of Credit Restoration Institute, a non-profit company assisting individuals in improving their credit score while teaching the impact of creditworthiness and its impact on one’s mental health, Robert is passionate about this topic. "Many people don't know how things will directly affect their credit and the domino effect it can create," says Robert. "A bad credit score can handicap them financially for life." He believes requiring a financial literacy course can eliminate the potential for low credit scores.

Working directly alongside Donna Perkins, Vice President of the National Association of Credit Services Organization (NACSO), Robert, a board member, is developing a curriculum that will not only educate but engage high school seniors to understand the basics of credit. Last month he visited The U.S. Department of Education in Washington, D.C. to lobby for support.

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.

You too can improve your creditworthiness. 

Don’t just listen to what we have to say, hear it directly from our clients!

“After the first round of disputes my scores went up 113 points. Put me back in mortgage approval range…There are never expectations in the credit game but they let you know what should happen and what they will do to make it happen and what will be done if it happens. To me the price is fair especially since I'm trying to get better rates on a home so a few hundred here is worth thousands later”

–Eric Dalton

Credit Restoration Institute is Co Sponsoring the HOME of VA's 50th Anniversary Upcoming Event!

Join us and celebrate HOME of VA's 50th Anniversary at Main Street Train Station (Richmond, VA) on Thursday, April 21, 2022!

The staff and Board of Directors of Housing Opportunities Made Equal of Virginia (HOME of VA) invite you to join them for an evening to remember! Celebrate HOME of VA's 50th anniversary in style at Main Street Train Station with live performances by the Klaxton Brown Band, delicious catering by Groovin' Gourmet, and so much 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

March Newsletter 2022

We're kicking off National Credit Education Month with Credit Restoration Institute Executive Director, Robert Linkonis spearheading the effort to get a “Credit Curriculum” taught in schools. Stay tuned!"

It’s National Credit Education Month! In honor of National Credit Education Month, we’re going to share some basic credit information that we think everyone should know. We believe that understanding credit is the first step in achieving a healthy credit score. What is Credit? Starting with the most basic, credit is the ability to borrow money or access goods or services with the understanding that you’ll pay later. Creditors, lenders, merchants and service providers, grant credit based on their confidence you can be trusted to pay back what you borrow — or, your creditworthiness. Your creditworthiness is summed up in a 3-digit number known as a credit score. The 3 Major Consumer Reporting Agencies Equifax, Experiean, and TransUnionEach one will have a slightly different score, but they all use the same information found in your credit report. Your credit report is based on several factors including: The number of credit card accounts you have and the borrowing limits and current balances. The amounts of any loans you’ve taken out and how much of them you’ve paid back. Monthly payments on your accounts and whether they were made on time, late or missed. Severe financial setbacks, if any, including mortgage foreclosures, car repossessions and bankruptcies. Credit Scores There are different models that provide you with a credit score, such as a FICO Score and a VantageScore. They calculate your scores differently but both associate those with better credit history with a higher score, and assign a lower score to those with lower creditworthiness.Both of these models take into account the four types of credit: Revolving credit, charge cards, service credit, and last but not least, installment credit. Types of Credit Revolving credit: your typical credit card, like Capital One, Chase, or DiscoverCharge cards: similar to revolving credit, however you have to pay the full balance every month. Think of your typical store credit card, like Target or Old NavyService credit: services you are provided every month with the understanding you will pay for it after the fact. For example, your cable or electric bill, or even your gym membership.Installment credit: student, auto, or home loans. You borrow X amount of dollars, and in a payment plan, you pay back X + any interest and fees. Your creditworthiness – credit score – affects everything. Good credit is necessary for major purchases like a home or a new car, but it’s also important to receive the best deals from credit lenders. Things You Can Do Today Pull your free credit report. Please note, this report will not include your credit score. You can use a service like annuacreditreport.com Check out your credit score. There are several ways to pull a free score, you can check with your bank, credit union, or credit card company. Be careful of any services that require your credit card or debit information. Free credit score checks should be free. 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. You too can improve your creditworthiness. Did you know? Creditworthiness is the extent to which a person is considered suitable to receive financial credit, often based on their reliability in paying money back in the past. Creditworthiness has a huge effect on one's mental health. For many, having access to basic human needs relies heavily on your credit score. Often, those with poor or bad credit end up in a cycle of debt resulting in higher levels of anxiety, depression, and hopelessness. 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

February Newsletter 2022

Happy Valentine's Day!

In the spirit of Valentine’s Day and love, we’re talking all about money and relationships this month!

Did you know your credit score can do more than affect your ability to secure a loan… It can also affect your relationships! According to research conducted by the Federal Reserve Board in 2015 people with the highest credit scores were more likely to form long-lasting committed relationships.

The larger the discrepancy between a couple’s credit score, the more likely the relationship would end within the first 5 years. (source)

Better yet, couples who regularly talk about money are happier in their relationships than those who discuss finances less frequently: 42 percent of participants who said they talk about money at least once per week described their relationship as “extremely happy.” (source)

Approximately 31% of all couples clash over finances at least once a month, usually over a bigger purchase! (source)

As you can see, healthy financial practices, regularly discussing money and purchases, and keeping your credit score in good standing are super important factors in your romantic relationships!

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.

You too can improve your creditworthiness.

How to Talk About Money With Your Partner

It can be scary to talk about money with your partner, especially if you haven’t before and especially if your finances are not where you’d like them to be.This article published by NPR outlines some great tips to start the conversation, starting with the ultimate icebreaker: "how comfortable do you feel being open about money?"

More questions to discuss:

• How much do both of you make?
• Do you have student loan debt?
• Are you comfortable carrying credit card debt?
• How should you, as a couple, handle money?

Sharing this information with each other is certainly a form of intimacy and can only strengthen your relationship if you are open and honest with one another.

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

January 2022 Newsletter

A message from Robert Linkonis Sr., Executive Director

Happy New Year!

Achieving Good Credit

With the New Year, many individuals start thinking about all they want to accomplish in the coming months. Maybe buying a home is on your list of new year’s resolutions?

If buying a home feels unachievable, start by working on your credit score. A credit score of at least 700 is the first step in qualifying for mortgage loans. While practicing good credit habits and addressing any credit issues are the first steps, according to the FTC, nearly 20% of credit reports contain errors!

Alongside working with us to legally repair inaccurate and unverifiable items, here are some things you can do to help build your credit score.

• Don’t miss a payment – set up automatic payments so you never miss a payment.
• Catch up on past due accounts – if you are past due on any accounts, do what you can to catch up. Try using the debt snowball or debt avalanche method.
• Pay down revolving balances – try to keep your credit usage to below 30%. Pay down any revolving balances to reach this mark.
• Limit how often you apply for new lines of credit – especially while working to rebuild your credit!

Negative remarks, while they will diminish over time and fall off your report after 7 years, are best addressed as soon as possible.

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.

You too can improve your creditworthiness.

• Credit Consulting                • Credit Report Audit 
• Credit Education                 • Credit Disputes 

Tips To Start Your Debt Free Journey

According to the ConsumerFed, 1/4 of low-income individuals are unaware of how to increase their creditworthiness. We want to help you by giving you the education and tools you need to rebuild your credit profile now and manage your credit and finances in the future. The more best practices you know, the better you'll be off!

Sometimes knowing where to start when we want to make a difference is hard. Here are some financial ideas to jump start your new year's resolutions! Start with one or two and see where it gets you!

• Cut unnecessary expenses – if you truly don’t need it to survive or it doesn’t add meaning to your life, eliminate it. 
• Budget! – you will hear this over and over again, but setting a budget is so important in realistically knowing where your money is going. Start by simply tracking all of your expenses, decide what can be eliminated, and move forward with a realistic budget from there.
• Pay more than the amount due – paying the minimum due balance just means you’re paying more in interest over the long run, making any items you bought on credit even more expensive than you originally paid for.

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

December 2021: Happy Holidays!

 

A Lesson in Credit Scores

As we're in full swing of the hustle and bustle of the holiday season, it can be easy to fall into the mindset that you have to spend lots of money and buy lots of gifts for your loved ones. This mindset drives 22% of Americans to go into over $550 in debt every year! [source] And if you’re using credit cards, it could potentially be more with penalties, late fees, and finance charges. All of this could lead to damaging your creditworthiness.

While there are some benefits to using credit cards, like cash back bonuses and other incentives, if you don’t feel confident in your ability to pay back the loan, don’t use a card.

Check out our roundup of low-cost gifts that your loved ones are sure to appreciate and stay out of the cycle of debt!

No Cost Gifts

• Create a playlist of your favorite songs and listen to it together.
• Regift an item from your home. Chances are you have something you're not using that a loved one would cherish!
• Make dinner and enjoy conversation and spending time with one another.
• Create a memories jar and write down your favorite memories. When they are missing you they can pull out a memory that makes them smile!
• Give the gift of time nothing is more important that spending time together, why not gift that very thing!
• Offer to babysit if they need a night out free from kids.
• Plan a scavenger hunt that sends them around to all their favorite places!

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.

You too can improve your creditworthiness.

• Credit Consulting
• Credit Report Audit 
• Credit Disputes
• Credit Education 

New Federal Debt Collection Rule

It’s been five years coming, but the Consumer Financial Protection Bureau has finalized the two parts of its debt collection rule under the federal Fair Debt Collection Practices Act. This regulation went into effect November 30, 2021.

The new regulation, known as Regulation F, has a number of implications for creditors as well as regulating third-party debt collectors.

Now you may be wondering, how will this affect you? We’re here to help! Get in touch with your questions and we’re happy to answer them.

View more from Business Law Today

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

November 2021: Happy Thanksgiving!

 A Lesson in Credit Scores

By now you know that your credit score can affect you in multiple ways, not just in your purchasing power but also mentally and emotionally. But what even is a credit score composed of?

Three independent credit bureaus exist and create credit reports and any creditor looking to lend you  money will consult with these credit bureaus to decide if you are creditworthy.

• Experian

• TransUnion

• Equifax

These credit bureaus create reports that produce a three-digit number you’ll know as a credit score. A credit score takes into consideration all of your credit report information and provides a number that is easy for lenders to interpret and minimizes the possibility of bias.

1. The number of credit card accounts you have and the borrowing limits and current balances.
2. The amounts of any loans you’ve taken out and how much of them you’ve paid back.
3. Monthly payments on your accounts and whether they were made on time, late, or missed.
4. Severe financial setbacks, if any, including mortgage foreclosures, car repossessions, and bankruptcies.

There are different models used that provide you with a credit score, such as FICO Score and VantageScore, but they both associate a better credit history with a higher score, and assign a lower score to those with lower creditworthiness.

Want to know more about your credit score? Receive a FREE credit evaluation today!