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.
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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