FREQUENTLY ASKED QUESTIONS

1. What our company specializes in:

We help in the removal of inaccurate, outdated or unverifiable items from Clients credit reports. As a result this increases your credit score.  When creditors and public records are reporting to your credit report they must, report according to the laws of the Fair Credit Reporting Act. This law is a step by step process that the creditors and/or public records have to follow when reporting something to the credit bureaus about you. What we are finding is that roughly 90% of the time steps are being skipped not only to save time but also money. We challenge items on your credit report at the credit bureau level (Experian, Equifax and TransUnion) asking them not only to verify that the item belongs to you but that it was reported according to this law. If it was not, it has to be deleted immediately. As a result your credit score will go up instantly. This in turn could qualify you, or get you the best interest rates for revolving credit or installment loans such as a mortgage. 

2. Why should I choose credit repair?  

The answer is simple. Negative information remains on your credit report for a 7-10 year period from the last date of activity (last date of activity means the date it was paid in full) and will cost you thousands of dollars in higher interest rates. This can be embarrassing when you go to apply for financing and get turned down because of something on your credit file. It seems like everything now days that we do somehow is related to information contained in our credit file, (renting a house, buying a car, getting credit cards, and even getting a job). By enrolling with Best Interest Credit Repair you will save not only thousands of dollars in high interest rates, but the headache, stress and embarrassment of being turned down wherever you go.

3. Does going through credit repair mean you have bad credit?

Not necessarily. There are individuals that have qualifying credit scores: however, they may simply want to improve there credit score to get a better interest rate, saving them hundreds of dollars on monthly payments. 

4. What type of satisfaction guarantee do we offer?

We take great pride in what we do. If you are not satisfied, that means we are not satisfied. We have a money back guarantee which entitles you to money back if you are not satisfied with the results. We do not believe you should have to pay for ineffective service.  

5. Cost:

We charge a $550.00 enrollment fee for a six month period. This fee is per client/ per social security number.

This fee includes an up front consultation of reading over your credit report to help identify potentially inaccurate, outdated or unverifiable information. All necessary dispute letters will be processed and sent out accordingly to the credit bureaus, Experian, Equifax and Trans Union.

6. Is your credit score guaranteed to increase?

We cannot guaranty specific results. There are factors out of our control that may adversely affect your credit score during our repair process. These could include:

                 -Derogatory accounts being sold and resold to collection agencies.

                 -Missed payments by client during repair process

                 -Continuing to accrue debt after the repair process has started (over 50% of high credit limit)

                 -Continuing to have your credit pulled after the repair process has started (inquiries)

                 -New public record information filed against you (judgments and tax liens)

7. What risks are involved?

None. The worst case scenario would be that we were unable to improve your credit or your credit score after our six month program. The best case scenario is that we permanently delete all derogatory items off all three bureaus and improve your credit score saving you thousands in interest charges over the next several years.

8. How do you do this legally?

Although some people and the credit bureaus would like you to think that our service is illegal, there is absolutely nothing illegal about disputing questionable information on your credit report. Fixing your credit is your right under Federal Law. 

9. How do you restore bad credit?

Once you enrolled in our program, we draft letters challenging creditors on your behalf at the credit bureau level. We use laws that are designed to protect the consumer's right when helping our clients improve their credit. Those laws include the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, the Truth and Lending Act, the Fair Credit Billing Act and the Equal Credit Opportunity Act. A disputed credit item must be accurately reported and verifiable for it to remain on the credit report. In most cases derogatory items cannot be verified or the creditor no longer holds the information or does not wish to follow the steps necessary to verify it. These are reasons that properly disputed credit items are removed frequently. Anything that is on your credit report can legally be removed.

10. How long does this process take?

The amount of time it takes is different in every circumstance. You will start seeing results within the first 30-45 days. Credit bureaus must respond back to you within 30 days of receiving the challenge letter according to the law.

11. How often do I get updates on my case?

Every 30-45 days you be receiving a result packet from all three credit bureaus. At that time you will see what was deleted or updated, and then you will need to mail the originals to us so that we can continue working on the remaining items. 

12. What does a credit score range from?

Credit scores range from 350 up to 850 points. To qualify for a loan your credit score usually needs to be at least a 620, although the interest rates may be high. A credit score over 720 points usually gets you much lower interest rates.

13. How much will my credit score increase?

We are seeing an average score increase of 90 points! We have been as successful as 200 points on occasion! There are many factors that may affect a credit score besides derogatory items, although derogatory items are usually the major factor. For example, length of credit history, types of credit, outstanding balances, even the number of inquiries.

14. How much bad credit does it take to be denied?

A simple late payment in some cases can get a person denied for new credit. There are lots of factors like income, credit history, balances being carried on credit cards and number of credit cards that you have, but getting the derogatory items removed is one of the most important step you can take in increasing your chances of approval.

15. Can you fix your own credit report?

Yes; however, ask yourself, do I have the time, resources and knowledge to complete the task? Based upon our years of experience, research and our legal strategies, we have built an organization that offers an efficient process to help you utilize your rights that have been given to you under the federal and state law. We know the correct terminology to get the bureaus attention. We know the proper codes within the Fair Credit Reporting Act to get fast results. We know exactly how many items we can challenge per letter so it does not end up as "frivolous" to the bureaus and put into the shredder. We know exactly which department and to whom to send your letter to get the desired results. If you were having a heart attack would you go to see an accupuncturist? Would you take your new car with all the computer chips to a shade tree mechanic? No, of course not. You would use a professional. 

16. Should you pay off your debt?

Paying off a credit card is a good thing. If a balance is left on a credit card, try to keep your balance below 30% of the available credit limit to maximize your credit score in this area. Paying off collection accounts usually decreases the credit score due to the date of the last activity becoming recent. DO NOT PAY OFF COLLECTIONS until after credit repair has been completed. This will lower your credit score approximately 100 points.

17. Is there a benefit from paying off derogatory items?

In the long run yes, but remember, whenever you make a payment on a derogatory account that seven year clock starts all over again and that item will be reported for seven more years form the date of payment. If you choose not to pay off a derogatory item, then it may be resold to another collection agency and in turn that will start the seven year period all over again also. Always check with us before paying off any items.

18. Does closing my credit cards help my credit?

No. Closing a credit card will only decrease your score due to your ratio of debt available and as a result of the closed account it can decrease the average length of time an account was open. 

19. What items can be legally removed?

Late Payments, repossessions, bankruptcies, collections, judgments, tax liens, student loans, foreclosures, charge-offs and more.

20. What items can not be removed?

Anything we have ever seen on a credit report we have been able to remove, it is all based on the way the derogatory item was reported against you. Some accounts are harder to remove than others, for example a bankruptcy or repossession, but it is possible to remove them.

21. Do you remove inquiries?

Yes, for an extra $100 fee we will work on removing all the inquiries from your credit report. Inquiries are just as hard to remove as derogatory items from your credit report. Inquiries remain on your credit report for a two year period.

22. Once we delete an item:

As derogatory items get deleted, when you have your credit pulled again it is as if the derogatory never existed and instantly as a result your credit score goes up!

We are not like a debt consolidation company where there are marks on your credit report showing that a company is helping you recover. We do not pay your bills or wipe out any bills. We CAN get collections, judgments, liens, late payments, etc. removed. However, if you owe money, you will be encouraged to repay it once we have finished with your credit repair. Paying off old debt while in credit repair can actually lower your score even further. 

23. What factors impact a credit score?

     1. Payment History 35%

     2. Amount Owed 30%

     3. Length of Credit History 15%

     4. Types of Credit Used 10%

     5. New Credit 10%

CAN YOU AFFORD NOT TO USE OUR SERVICE?

The following parameters apply to each individual:

Loan Amount: $250,000

Loan Type: 30 year fixed, fully amortized (principal and interest)

           Individual with A credit rating

           Interest Rate: 6.5%

           Monthly Payment: $ 1,580.17

           Total payments over life of loan: $ 568,861.20

           Individual with B credit rating

           Interest Rate: 8.5%

           Monthly Payment $ 1,922.28

           Total payments over life of loan: $ 692,020.80

            Individual with C credit rating

            Interest Rate 10.5%

            Monthly Payment: $ 2286.85

            Total payments over life of loan: $ 823,266.00

            As you can clearly see, your credit score can save you or cost you thousands of dollars!

            We offer professional credit specialists with years of experience in the industry.

            Our team is here to provide you with the highest quality of service pertaining to your credit            

            repair needs.

Please give us a call today, we are here to help.

530.646.4036

Fax: 530.646.4034