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FAQ
DOES THE CLASS FULFILL THE
EDUCATION THE BANKRUPTCY LAW REQUIRES?
WHY SHOULD I CARE
ABOUT MY CREDIT?
WHAT IS THE COST OF BAD
CREDIT?
WHERE DO I START?
WHAT IS A CREDIT BUREAU?
WHAT IS A CREDIT REPORT?
WHAT IS ON MY CREDIT
REPORT?
WHAT IS A CREDIT SCORE?
WHAT CAN HURT MY SCORE?
WHAT CAN I DO
TO IF MY CREDIT IS DAMAGED?
WHAT IS CREDIT REPAIR?
WHAT
CAN I LEARN FROM THE DEBTOR EDUCATION COURSE?
WHAT IS THE COST OF
A CONSULTATION?
WHAT
IS INCLUDED IN THE DEBTOR EDUCATION COURSE?
WILL I BE
ABLE TO REPAIR MY CREDIT ON MY OWN?
WHAT IF
I WANT MORE HELP IN REPAIRING MY CREDIT?
HOW DO I SET UP AN APPOINTMENT FOR
THE DEBTOR EDUCATION COURSE?
DOES THE CLASS FULFILL THE
EDUCATION THE BANKRUPTCY LAW REQUIRES?
Yes. The consultation fulfills the requirement of the debtor
education course as required by the bankruptcy code/ Upon
completion of the course, you will be issued a certificate of
completion that can be filed with the bankruptcy court.
WHY SHOULD I CARE
ABOUT MY CREDIT?
The simple answer
is that better credit will save you money, if not headaches.
Moreover, the better your credit history and credit score, the
better your chances of obtaining a low-cost loan, insurance
policy, renting an apartment or qualifying for a job.
WHAT IS THE COST
OF BAD CREDIT?
The cost of bad
credit is that of higher interest and embarrassment. In fact, for
a 30 year mortgage, a 9% interest rate will cost you $50,155.00
more than a mortgage with a 7% interest rate.
WHERE DO I START?
You must start at
the beginning and that includes a full understanding of your
credit and the many things that can affect your credit, both
positively and negatively.
WHAT IS A CREDIT
BUREAU?
Credit bureaus
collect information about your financial affairs and sell that
information to their business members, such as credit grantors,
employers and insurance companies. Typical clients include banks,
mortgage lenders and credit card companies that use the
information to screen applicants for loans and credit cards.
There are three major credit bureaus, Equifax, Experian and Trans
Union, and they are regulated by the federal Fair Credit Reporting
Act.
WHAT IS A CREDIT
REPORT?
A credit report
is a summary of your financial reliability: your history of paying
debts and other bills.
WHAT IS ON MY
CREDIT REPORT?
A typical credit
report will have four main items of information: 1) identifying
information, 2) public records, 3)credit history and 4)
inquiries. The credit bureau will use those four pieces to
compute your credit score.
WHAT IS A CREDIT
SCORE?
A credit score is
a number calculated by a credit bureau intended for use in making
a decision on a loan application or other product or service.
Credit scoring as a point system based on your credit history,
designed to help predict how likely you are to repay a loan or
make payments on time.
WHAT CAN HURT MY
SCORE?
A credit report
with late payments (or no payments) will cause your credit score
to nose-dive. Items such as judgments, liens or bankruptcy will
hurt your score.
WHAT CAN I DO TO
IF MY CREDIT IS DAMAGED?
You should first
learn about credit how to protect it. Our firm offers credit
repair consultations and credit repair services.
WHAT IS CREDIT
REPAIR?
Credit repair is
the process by which you clean up inaccuracies on your credit
report, delete wrong or inaccurate information, protect your
credit identity and become more informed on credit matters. If
you repair your credit, your credit score will improve and you
will obtain better interest rates and save you money.
WHAT CAN I LEARN
FROM THE DEBTOR EDUCATION COURSE?
Our firm can help
you understand the world of credit reports, credit scores, credit
bureaus, credit repair, budgeting and identity protection. Our
consultation will help you with the following:
-
Correcting
your credit report if you find wrong or missing information that
can lower your credit score and cost you money;
-
Avoiding
common consumer mistakes that can tarnish your credit record and
cost you money;
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Avoiding
credit-related scams, including identity theft;
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How to
take advantage of federal laws that protect you and your credit
record;
-
Budgeting
basics; and
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Where to
turn for more help or information.
WHAT IS THE COST
OF A CONSULTATION?
Our firm charges
$75.00 ($85.00 for a couple) for the debtor education course.
WHAT IS INCLUDED
IN THE DEBTOR EDUCATION COURSE?
You will receive
a workbook with valuable credit repair information including
sample letters, reporting information, sample budgets and valuable
credit information. You will receive a copy of your credit report
and learn how to read the report. Most importantly, you will be
given the tools to repair your credit.
WILL I BE ABLE TO
REPAIR MY CREDIT ON MY OWN?
Yes. In fact, we
recommend you work on the actual credit repair on your own.
However, you still need the right tools to repair your credit.
Our firm can give you those tools so you are able to repair your
credit.
WHAT IF I WANT
MORE HELP IN REPAIRING MY CREDIT?
Our firm offers
credit repair help after the initial consultation including
writing letters and continued consultation. Please contact our
firm for current pricing information.
HOW DO I SET UP
AN APPOINTMENT FOR THE DEBTOR EDUCATION COURSE?
If you need help
with repairing your credit, please call Phil at 612-791-1766 to
set up a credit repair consultation. We will send you a contract
that needs to be signed three days prior to the consultation.
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