I’m going to show you WHY the credit bureaus are NOT interested in helping you to clean up your reports!

My name is Herschel Bentley, and I want you to understand WHY I am so excited to be able to help you regain your credit, social status, and freedom.
You see, it wasn’t too long ago that I was exactly where you are. I couldn’t even buy a mattress for my family, much less buy a new car or a home.
(in fact, it got so bad I couldn’t finance the steam off of a hot dog)

I was humiliated. I felt like a total loser.

I was treated like a 2nd class citizen. And I don’t have to tell you how horrible that made me feel. Like you, I wanted to take care of my family … I just didn’t know how because my credit was so bad.

The real shocker is, the credit bureaus don’t want you to get out of that vicious circle.

You see, the very wealthy have been able to take advantage of these credit “loopholes” for a long, long time. Now, it’s YOUR turn to do the same 100% legally.

You’ve heard the old adage … the rich get richer and the poor get poorer.

Well, unfortunately, there’s too much truth to that statement.

Knowledge is Power.

There is SO much I want you to know, so you will be able to arm yourself with the tools, information and strategies to regain your credit power (like I have).

In the next few blogs, I’ll be sharing some things with you that will inform and inspire you to take ACTION. So please take the time to read and understand these posts so we can take an extraordinary journey together.

But if you simply want to “skip the wait” for more information and action items, and just get started on the path to 1st class credit citizenship right now… pay close attention…

Here’s what the attorneys at my company (National Credit Federation) do for you that others don’t:

This is extremely important information for you to understand…

What We Don’t Do:

Dispute items one at a time, without an attorney, as most groups try to do (not a permanent fix).

What We Actually Do That Separates Us From The Competition (aside from earning your trust as a partner in credit restoration):

* We 100% legally force the total removal of negative items from your credit report.

* Our attorneys use every legal means available to challenge (and beat) the credit bureaus.

* And the law requires the bureaus to REMOVE derogatory items on your credit reports, under certain conditions that our attorneys put into place.

It’s a sad state of affairs that you have to know the ins/outs of the law, before you can effectively challenge these companies …

But NOW, you can level the playing field because you will have a trusted partner and legal representation.

http://www.VantageCA.com

Two Scenarios to be Avoided:

1.    Avoid the high ratios.
2.    Avoid the risky loan.

Avoid a high-risk loan; it will keep your scores excruciatingly low while creating a yo-yo affect in a low score bracket. It will not help get your scores where they need to be in order to achieve low interest rates and save tons of money.

If you absolutely need to have a higher balance on a credit card, then get the credit limit raised before you need it.

You know why; just do it.

Let’s repeat this again and again…

Avoid risky loans and keep balances low!
Avoid risky loans and keep balances low!
Avoid risky loans and keep balances low!

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Quote

If you think nobody cares if you’re alive, try missing a couple of car payments.

-Earl Wilson-

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Quote

Nothing so cements and holds together all the parts of society as faith or credit, which can never be kept up unless men are under some force or necessity of honestly paying what they owe to one another.

-Cicero-

Each negative on your credit report is a derogatory that creates a derogatory account in your credit file. Derogatory accounts hurt your credit score and pull your credit score down.

One solution, is to let the negative fall off the account after 7 years, at which point the credit bureaus are supposed to change the derogatory status of the account back to “pays as agreed”. However, there is a good chance that this can be neglected by the credit bureaus and you will have to dispute the negative to get it removed.

The other solution is to dispute the negative to get it removed as soon as you find out you have a negative on any of your accounts. This is a right under the law of the Fair Credit Reporting Act. The credit bureaus are required to verify the data that gets put into a public record but the simple problem is that they don’t. The fallout for this neglect is that 79% of all credit reports have negative information in them that is not theirs.  Makes it really fair for the consumer, no?

NO! It’s really a scam and, in reality, credit bureaus make their money by keeping negatives on your credit report.

You certainly have the right to challenge these negatives or dispute them, but the simple truth is that it is a difficult thing to get them off because of the way the credit bureaus interpret the law.

Unless you use an attorney, credit bureaus can thumb their nose at consumers; some items may be removed but the majority will remain for years until they are required by law to fall off at 7 or 10 years.

There is a solution, but we will get to that later.

Lawrence,
Russ and I had a question that we were wondering if you could answer.  We have $8500.00 in credit card debt.  I think our interest rate is around 8%.  We have two trucks that we could sell and pay off the card.  We are wondering though if it would be smarter to do that and buy another vehicle that we’d have to get a loan for or keep one of the trucks and just pay down the card when we have extra money?

Thanks!
Mindy

Hi Mindy,

Thanks for the question!

It sounds like you only need one vehicle and not two. If this is the case, then selling one and paying off your credit cards looks to be the best scenario for paying off debt, and increasing  your credit scores at the same time.

Points to consider:

1. If you sell both vehicles but then have to get a loan on a new truck, your scores will drop because of the new account. Your scores are hit 7 different ways with a new account.
2. Yes, debt to credit limit rations will definitely be helped by paying down credit cards. I would make sure to pay all cards that are over 45% debt to credit limit ratio; then pay them down further as you have more money to put toward them; this will also help increase your credit scores.
3. The best recommendation is to sell the most expensive vehicle and put that money toward bills. As you pay off your bills, save for a new truck, and then purchase it with the available cash that you have saved. You have eliminated debt and increased your credit scores at the same time.

Hope this helps.
Lawrence M law