The Credit System
It's sad but true. A large percentage of Americans suffer from a blemish
on their credit reports. A blemish that prevents them from obtaining
new credit when they need it most. Bad credit is embarrassing, humiliating,
and depressing because most credit ors believe a bad credit report
dictates a persons worth and value as a responsible human being.
Most people with bad credit are not "deadbeats" nor are
they unwilling to pay their obligations. In fact, if your like most
people, you probably maintained a good credit profile until an unforeseen
circumstance like a layoff, medical problem, or divorce prevented
you from making a few payments in a timely manner.
The truth is that most people struggle long and hard to meet their
obligations but the money coming in just doesn't meet the bills going
out. If you find yourself in this type of situation, you must be very
careful and selective about which bills get paid. If the circumstances
become serious enough, you may even have to file for bankruptcy protection.
You are not alone. You're not the first person to decide to put food
on the table or keep the electricity on rather than paying a credit
card bill. You can be sure that most people would rather protect their
family and their loved ones first, and then pay their creditors. Even
the collection agents, the ones that call and 0harass other people
about their obligations, would certainly protect themselves first
if faced with the same tough decision.
Now, by knowing, understanding and utilizing your legal rights you
can begin taking the steps of regain the good credit you once had
and reward yourself with the confidence necessary to rebuild your
financial independence and freedom. Of course you must protect your
new credit report with honesty, integrity, and common sense.
So, as you begin your journey to establish a new credit report, I
would first ask you to stop feeling guilty about your previous inability
to pay your creditors. It may or may not have been your fault. That
is and will remain in the past. Look forward to a new start, new credit
report, and a new chance.
As publishers, we are not engaged in giving any legal or accounting
advice. If you desire and want professional legal advice, please go
to our Legal Services Page to get the legal representation you need
at a price you can afford.
Introduction
Unfortunately today, we live in a society that determines our net
worth and value as a human being by the type of credit file we have.
If your credit report is good, chances are you will receive and partake
of some of the better things in life. But the opposite couldn't be
more true if your credit report is bad. There are very few creditors
who will extend good credit to people with bad credit.
But what if it wasn't your fault? What if you had to make the simple
choice between eating and making your car payment? What if a job lay-off,
a medical emergency, or some other personal crisis prevented you from
making a timely payment? Should you be forced to pay for this for
the next seven to ten years?
The credit bureaus are judge and jury in relation to your credit file.
But there is one difference. A judge will at least give you the chance
to defend yourself in court before passing judgment. And in America
we are SUPPOSED to have a chance to face our accusers BEFORE judgment
is passed. This is entirely untrue when it comes to your credit file.
The truth is that your creditors and the credit bureaus have been
swapping information about you behind your back for a long time. You
are not asked or given any benefit of defense when this happens. It
is in effect legal gossip!
The system, as it stands today, does not give you the opportunity
to defend yourself before inscribing your credit file with negative
information, even if it is not yours! You must prove to them that
the negative information on your credit file is incorrect, invalid
or otherwise erroneous before they will remove it. That means in their
eyes, you are GUILTY until proven INNOCENT.
You might wonder how a system like this is allowed to operate in our
DEMOCRACY, in a country where we've been brought up to believe that
a person is innocent until proven guilty. Why aren't we extended some
courtesy by the credit bureaus? Why don't they give us a chance to
defend ourselves before placing negative information on our credit
files?
Good questions, aren't they? You may not like the answer though...
THEY DON'T HAVE TO! The credit bureaus are private companies and corporations.
They are in business to make a profit. And that profit comes from
one place and one place only: YOUR CREDITORS.
Your creditors pay to see your credit file information and believe
it to be true and correct. They also reciprocate by exchanging your
credit information with the credit bureaus. So... your creditors pay
the credit bureaus and the credit bureaus are in business to make
a profit. Where do you fit in? You don't.
Unfortunately you are just another number in the vast data bank of
numbers. Your credit report and the information it contains are not
important or of any consequence to anyone but you. That's why you
are the only one that can do anything about it.
Well my friend, that's why I put this information together and developed
this unique program. I have seen too many people destroyed by the
credit reporting system. I have watched helplessly by the wayside
as their credit files were corrupted and their self dignity was destroyed
in the process.
So many people with poor credit have done their best to make timely
payments but couldn't because of a personal problem or another. Should
they pay for this both financially and emotionally for the next seven
to ten years? I don't believe so. I believe everyone deserves a second
chance. I believe that you deserve a second chance, no matter what
the previous circumstances were. Put those problems behind you now.
It's time to move on and re-establish a good credit file.
YOU CAN remove past negative information it will take time and tenacity.
The process is simple but it's not easy. It will take some work on
your part, but if you're serious about getting a second chance, you
won't mind.
Congratulations! You are about to take the final steps necessary to
begin a brand new life with good credit! Study the material, use the
information and get a new start!
A Few Comments On Credit Repair Companies
Over the past fifteen years or so, many "Credit Repair Companies"
or "Credit Clinics" have opened up across the nation. Their
main purpose is to help the individual remove incorrect and negative
items from their credit report. Unfortunately, some of these outfits
are scams from the word "GO" and have given the whole industry
a bad name. They take the consumer's money and then tell them it will
take month s to get results, then disappear without a trace. With
the information we have provided you with here, you have no need to
take that chance. If, however, you decide to hire one of these companies,
check them out!
First, if the sales person or company uses the word "Guarantee"
or "Delete", Run and don't look back! There is no way to
"Guarantee" that ANYTHING will be removed from the credit
report! Think about it for a minute. Unless he or she is going to
"hack" into the credit bureau's computer, how can he guarantee
anything? The Clinic is NOT the one that "deletes" the information!
Ask to see their license, get a copy of it, and then contact your
State's Secretary of State to make sure that the company has obtained
and maintained the necessary license and/or bond. In the State of
Nebraska all companies, organizations, or individuals that provide
credit services MUST (with NO exceptions) obtain a "Credit Services
Organization License". If they charge a fee BEFORE they provide
the services they promise, they MUST also maintain a $100,000 Surety
Bond for TWO YEARS after they cease doing business in the state. While
you are on the phone with the Secretary of State's office, ask if
there have been any unresolved complaints against the company. Find
out how long they have had their license as well.
There have been a number of credit clinics that guarantee to remove
any derogatory items from consumer's credit report.
Contact the Attorney General's office in your state as well, see if
there have been any complaints and find out if they are under any
kind of investigation. The Better Business Bureau is also another
good organization to check. My company wasn't just LISTED with the
BBB, we where actually members of the organization as well.
If the firm tells you that you can not take a day to think about it
or that it is a 24 hour offer tell them to take a hike! They where
trying to scam you! Tell them that you want a copy of the contract
you will be signing and any disclosures so that your attorney can
take a look at it. If they balk, again, good for you, you just flushed
out another con-artist. Call the Attorney General to have them investigated
so no one else will fall into their trap! To have unlimited contracts
reviewed by an attorney, and tons of other legal services, please
visit our Legal Services Page.
For five years I owned and operated a company here in Omaha that not
only assisted individuals and families re-establish their credit reports
and obtain new forms of credit; but we also helped establish a budgets,
and save money. The last two items were more important than the first
two! If nothing else, TIME will repair a damaged credit report. But
without the proper savings and budgeting, the smallest disruption
in an individual's cash flow will destroy the BEST credit report.
In fact, the "better" the credit, the more potential for
damage there is!
I will encourage you to go to your local book store and obtain a book
on budgeting. Talk to a family member, friend, or clergyman to get
help on setting up and sticking to a budget. One of the reasons people
run into the credit situations they do is because when the emergencies
hit, there is nothing to fall back on. Don't let it happen again!
Protect your good credit and your good name!
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