Improve Your Credit Score The Power Is Now Inc. www.thepowerisnow.com
Visit http://www.thepowerisnow.com/service/creditrestoration
The Fair Credit Reporting Act of 1971 ● The Fair Credit Reporting Act (FCRA) was passed by congress with the
intention to regulate the credit reporting agencies and promote the accuracy of the information in consumer credit reports. ● The Act spelled out all the rules and regulations that the credit-reporting agencies had to follow before they added anything to a consumer’s credit report. Information about “you” has to be accurate and verified before it is entered on your credit reports. ● The Federal Trade Commission is the government agency responsible for enforcing the FCRA
The 3 Major Credit Reporting Agencies (CRA’s) • Experian (Fair Isaac Corporation) • Equifax (Beacon) • TransUnion (Empirica) What do the CRA’s do? • Collect and maintain information about consumer’s credit history. This information is obtained from banks, credit card companies and various financial institutions. • The CRA’s sell this information to lenders and other creditors. • The CRA’s are not part of the government.
What’s the definition of “inaccurate, erroneous, or obsolete?” • Inaccurate information is any information that cannot be verified by the CRA and/or the creditor grantor. • Erroneous information is any information that has been entered onto a consumer’s credit report due to human error (data entry error), Social Security Number mismatch error, mixed file error, similar name error. “reasonable procedures” were not followed when the information was entered on the credit report, or any such related error. This happens more often than you think! • Obsolete information is any information that is beyond the industry standard of seven years; or ten years for bankruptcy.
Are Credit Reports Accurate? ● Nearly 80% of all consumer credit reports have significant errors ● 25% of which are serious enough to potentially result in a credit denial ● These errors could affect credit scores by 50 points or more How do these errors occur? ● Loans, payment data or credit card information is applied to the wrong account ● When filling out credit applications with different names, i.e., Bill Smith versus William Smith ● Your Social Security number was entered incorrectly on the application ● A clerical error was made when the lender transferred the data from the application
What Are Credit Scores? ● A method that uses statistical models to evaluate your creditworthiness ● Reflective of a borrower's past payment history, outstanding credit balances, and available credit capacity at a given point in time ● Creditors use these scores, known as FICO scores, when deciding whether or not to offer credit to consumers ● FICO scores range from 300 to 850 points
What Makes Up Your Credit Score? 5 key • • • • •
components to having a great score Your buying and bill paying habits (35%) Amount of credit you owe versus your available credit (30%) The length of your credit history (15%) Types of credit used/your credit mix (10%) New credit that you are applying for (10%)
How Credit Affects You ● The interest rate you pay on credit cards and loans ● Your ability to get a checking account ● Rates on your auto insurance ● Employment
Our Service ● We help eliminate any inaccurate, erroneous and obsolete information reporting in your credit file with five dispute cycles ● Our process combines the latest technology with personalized attention that gets results ● Receive regular updates on the progress of your file, reflecting any deletions, additions or alterations ● Our active customer support is available to service your needs and answer your questions Monday – Friday, 9:00 AM-5:00 PM, EST at 248-848-9065 ● Access your progress report online 24 hours a day, 7 days a week, 365 days per year
UCES Online: www.united-credit.org
UCES Online: www.united-credit.org
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Clients can effectively manage their credit and credit decisions before and after our service.
UCES Online: www.united-credit.org
• Login: Customer’s Social Security number • Password: The last 4 digits of the customer’s SSN
UCES Online: www.united-credit.org
UCES Online: www.united-credit.org The Progress Report tab will show the client’s accounts and the current status of each.
UCES Online: www.united-credit.org The Processing Report tab will show the client’s accounts and the current dispute printing status.
UCES Actual Client Results
Testimonials: “In just two months, my credit score increased
to the point that my car insurance premium was lowered by $2,000 per year!” ~ Yvette Reid, Cherry Hill, NJ
“The real estate collapse forced me into a short sale which was sure to damage my credit, but it was deleted from my credit report in the first 30 days!”
~ Bill Shook, Atlanta GA
Testimonials: “I had a tax lien on my credit report for years that was
damaging my credit score and it was removed from my credit report in 30 days!"
~ Lilly Ortiz, Atlanta, GA “ I had 14 derogatory accounts removed from my credit file, including 3 repossessions and my credit score jumped up significantly, allowing me to purchase a BMW 740i and a new home for my family!”
~Lenny Downie, Phoenix, AZ
• How Long Do Negative Items Stay On a Credit Report? Negative credit accounts, or trade lines, can remain on your credit report for up to 7 years, and bankruptcies and other public records for up to 10 years. Inquiries on your credit report may remain for 2 years. These are the maximum times that are permitted by federal law for reporting agencies to show negative items; however, these times are not mandatory. At any time, a creditor or credit bureau may remove a derogatory remark from your credit report if the consumer requests an investigation into remarks that they feel are incorrect.
“Frequently Asked Questions”
• Is Credit Restoration Legal? • Absolutely. The Fair Credit Reporting Act allows anyone to dispute inaccurate items on their credit reports. There's nothing we do that you cannot do yourself when it comes to fixing your credit situation. Individuals can restore their credit on their own but this can take time and a lot of knowledge when it comes to the credit laws. That's why we are here to help since we have the experience and knowledge to get you the positive results.
FAQ’s
• How Much Will You Increase My Credit Score? Many of our clients have seen an increase of 100 points or more*; however, the actual amount will vary per customer. There are many factors that affect a credit score besides derogatory items. For example, the ability to pay down revolving debt, the type of credit you have, your length of credit history, even the number of inquiries on your credit file. It is especially important that no current accounts fall into a negative status. * Results may vary by individual.
FAQ’s
• Can I Restore My Own Credit? • Yes, you can. You can also represent yourself in a court of law, and do your own oil changes on your vehicles and sale your own home. We are a service company. Just as you are probably better at what you do than we would be, we are probably better at credit restoration than you would be. We offer experienced, professional help at very affordable rates for your convenience and benefit.
FAQ’s
How Long Will It Take The Credit Agencies To Respond After I Send Them My Dispute Letter? You will receive updated credit reports from all three credit bureaus after 30 to 45 days. At that time you will see what was deleted and will need to mail the originals to us so that we can continue working on the remaining items. You will actually know what was deleted before we do, which is why it is so important that you forward all credit bureau correspondence within a few days of receiving it. If the credit agency does not respond to your dispute letter, do not be alarmed, a new dispute letter will be generated when your file is reviewed by the processing center every 60 days.
FAQ’s
What Would It Be Wor th To Have Excellent Credit?
One Year Service = $499
Monthly Option = $199 down $39 Month $39 per month thereafter - No Contract / Keep the service until you reach your desired credit score
• When trying to build positive credit, having a secured credit card is one of the easiest and most effective ways to do so. • The first step is to apply for one of the secured credit cards and make sure you are using your cards and having activity on them. • It is important to pay down each month on time to at least 30% of the credit limit on the card. Even if that means just buying a tank of gas or groceries to keep a card active and in good standing. • No activity on a card for 6 months will actually bring your score down! Activity is the most important part of the scoring model. • Do not go out and get new credit especially retail store credit. If you do not have credit cards you can apply for a secured card and making sure that card does report to the three bureaus.
BUILD POSITIVE CREDIT
www.openskycc.com/
www.progresscredit.com
CREDIT CREDIT NEEDED Bad Credit
•Build Your Credit, with monthly updates to all 3 credit bureaus •Control Your Finances, start with a security deposit and credit line as low as $200 •Apply in less than 5 minutes, NO credit check necessary •Avoid paying interest, no interest charged on new purchases if the balance is paid in full by the due date each month. •Extra Credit When You Need It, increase your credit line up to $5000 •Easy funding options, with 4 ways to fund and NO checking account needed
CREDIT NEEDED Fair Credit Bad Credit
•Monthly Reporting to all 3 Major Credit Bureaus to Establish Credit History •No Credit History or Minimum Credit Score Required for Approval •Quick and Complete Online Application •Good for Car Rental, Hotels; Anywhere Credit Cards are Accepted! •Credit Line Secured by Your FullyRefundable Deposit of $300 -- $2,000 Submitted with Application •Nationwide Program – though not yet available in NY, IA, AR, or WI •Merchandise APR = 19.99% •Annual Fee = $29
Secured Credit Cards
Contact Information For more information contact: Eric Lawrence Frazier MBA Email: eric.frazier@thepowerisnow.com or Website: www.ThePowerIsNow.com Tto sign up for the service: http://goo.gl/l9kFi7 Credit Repair Website: www.United-Credit.org Phone: 800-401-8994 ext 703 Skype: frazier.eric Cell: 714-475-8629 Customer Service Monday- Friday 9:00am -5:00pm est 202-709-3370