Carlos Santana - Credit Repair Kit

Credit Repair Kit

Carlos Santana

Copyright 2014 by Carlos Santana.

All rights reserved. No part of this book may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without permission in writing from the copyright owner.

The views expressed in this work are solely those of the author and do not necessarily reflect the views of the publisher, and the publisher hereby disclaims any responsibility for them.

This book was printed in the United States of America.

Rev. date: 24/01/2014

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CONTENTS

What are you going to find in this book? You will find the following tools and advise as to how to deal with your creditor in order to reestablish your credit:

1. How to negotiate with your Creditors

2. What to say and what to do

3. Sample of letters that you need to write to your Creditors

4. How to negotiate cancellation of debts

5. Requisition of Credit Bureau Report

6. Who and where to call or write

7. Synopsis of consumer protection laws.

CREDIT REPAIR KIT THE BOOK

We all know how you got involved in the credit line business. Now lets talk about how to get out of the situation of credit loss.

In the first place it took you a long time to establish your credit lines, including personal loans, credit cards, car loan, mortgages and whatever. Now we must embark in a trip to reestablish your credit after it has been damaged.

You must be willing and able to discuss how you got there by either doing it in writing or in person. It will take you sometime to present yourself to the different companies and banks that allowed you to have their confidence and gave their monies to you. You must call these people, companies and banks and request appointments or write to them. But before you do that you must request a copy of your credit bureau report at your local office. PLEASE do not request one of these fly by night reports that are offered in the web, they will only offer your info to other credit companies.

Now that you have your appointments with different companies and credit report in hand you will write or schedule an appointment to discuss your situation with the officer in charge of your case.

CREDIT REPAIR ORGANIZATIONS ACT

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The Credit Repair Organizations Act (CROA) is not actually an Act. It is Title IV of The Consumer Credit Protection Act. Section 401 states, however, it can be referred to as Credit Repair Organization Act.

Now more than ever consumers must establish and maintain strong credit worthiness and standing in order to obtain more credit. As a result, many consumers who have experienced credit problems seek assistance from credit repair organizations. Some credit repair organizations, however, advertise and engage in unfair business practices which result in financial hardship for consumers, particularly those of limited economic means or those who are uneducated.

Self-respect is a condition where psychologically and economically one needs to develop oneself to be able to handle yourself in order to succeed in this society and economy. To be able to acquire the things and services one need to exist in this society we are going to need some sort of credit line if we do not have sufficient income or cash flow where more than 80% of the population will have to use

CREDIT. YES , credit is the onl y vehicle to acquire th e things we need to ex ist and succeed in this society if you fall i n the 80% of the populat ion. To develop credit lines and banking servic es to your benefit to have self-respect and the respect of others, you must learn ho w to develop and susta in this benefit. (credit). By the following standar ds you will be able to acquire the ability t o purchase the things y ou need and become suc cessful:

+ Sufficient Income

+ Ability to pay

+ Stability (work more than 6 months)

+ Payment of utilities (water, electric bills, etc.)

+ Positive payment history

+ Positive ID

The purposes of the Credit Repair Organizations Act is to ensure that prospective buyers credit repair services from credit repair organizations are provided with the necessary information to make an informed decision. It intends to protect the public from unfair or deceptive advertising and business practices by credit repair organizations. It enumerates prohibited practices, required disclosures, contract requirements, liability and penalties for non-compliance and procedure to report non- compliance. The statute was signed by the President on September 30, 1996.

One of the most important areas covered by CROA is how credit repair organizations can get paid. It is the general consensus that a credit repair company can only be paid after services have been rendered. This can be done using a monthly fee model where companies charge clients on a monthly basis after services are rendered or on the more modern pay after deletion model where clients only pay after items are deleted from the credit report. Companies that charge excess setup fees or all of their fees upfront violate the provision of CROA.

Doing whats best for one self is the most appropriate thing to do so lets get going. You need to evaluate your finances, because you need to know where you are standing. First you add all your income sources. Then you must know what your liabilities are. Since you got into a financial situation where you are at the risk of going bankrupt, the least you can do is know where you stand.

When you learn exactly where you stand, you will be able to negotiate the elimination of you debts. You will be able to appreciate the knowledge acquired by doing a simple Income and Expense Statement of your situation. You will have the confidence to negotiate the elimination of your debts, and at the end of the month you will have some money left, hallelujah!!!

CREDIT REPAIR KIT

Following is a list of documents you may need to accomplish the task of reestablishing you credit. In order to make a good impression you will need:

1. Recent Credit Report

2. Recent pay stubs (evidence of income)

3. Evidence of unemployment, divorce, accident or death certificate

4. Bankruptcy discharge

5. Other Income, etc.

6. Attorney statements

CREDIT REPAIR SCAMS

Credit Repair Help Yourself

You see the advertisements in newspapers, on TV and on the Internet. You hear them on the radio. You get fliers in the mail. You may even get calls from telemarketers offering credit repair services. They all make the same claims:

Credit problems? No problem!

We can erase your bad credit 100% guaranteed. Create a new credit identity legally.

We can remove bankruptcies, judgments, liens and bad loans from your credit file forever.

Do yourself a favor and save some money, too. Dont believe these statements. Only time, a

conscious effort and a personal debt repayment plan will improve your credit report.