THE MVET WAY CEMN NEWSLETTER__JAN_FEB__MARCH_2018

How Credit and Credit Repair Works By John Allen

Hello MVET

My intention with this article is to feed you and to give you baseline knowledge on how credit and credit repair works. There is so much more to tell you as we get going. I am very excited to work with you all. Our company's slogan is "Saving My Life by, Saving My Credit." If you need help with your credit situation, no matter what it is, we will have some answers and clarity for you. There are lots of reasons why your credit may be in rough shape. Most are related to your spending habits. So, for instance, if you missed a few payments or your debt levels are too high (think over 30% of your total available credit limits), you ’ll have to make some changes to improve your credit scores. And you may have to wait a bit to see an uptick. Most negative information can take up to seven years to age off of your credit report, though the effects on your score will lessen over time, so long as no new blemishes emerge. A recent Federal Trade Commission study found that 1 -in-5 consumers have an er- ror or derogatory issue on at least one of their credit reports. If you have items on your credit report that you don't recognize, then you may want to consider credit repair. The average person doesn't know : * How to read a credit report. * How to recognize key information affecting their credit report, good or bad. * How to fix an issue or get something done on their credit report. * How much balance they should hold on credit cards. (Balance to limit ratio). Saving My Credit will first pull your credit reports from each of the three major credit reporting agencies to pinpoint your credit issues. Why all three? Because each credit reporting agency has its unique “data furnish- ers” (aka lenders, credit card companies, debt collectors, etc.), who report your credit information to them. And there may be errors that appear on one of your credit reports, but don’t appear to the others. Once you identify those errors, you’ll then give Saving My Credit any supporting documentation you might have or need. For example, if there’s a bill on your credit report that your husband or wife was responsi- ble for under your divorce decree, you can use that document to prove it shouldn’t be impacting you. In some cases, it might be difficult to determine what to include as far as supporting documentation goes — that’s another way Saving My Credit can help you. For example, if you’re a victim of identity theft and a fraud- ulent account is appearing on your credit report, it can be tough to prove it isn’t yours since you naturally don’t have any documents relating to the account. Removing an item from your credit report is determined by the bureaus and data furnishers after receiving the dispute and supporting information and working with Saving My Credit. The major law dictating your rights when it comes to credit reporting is the Fair Credit Reporting Act, but it isn’t the only law on your side when it comes to credit repair. Saving My Credit will scrub questionable credit report items against other laws — like the Fair Credit Billing Act, which regulates original credi- tors; the Fair Debt Collection Practices Act, which oversees collection agencies; and others that address medical illness, military service, student With our professional help, you will have all these answers and more.