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Stop Harassing Calls From Debt Collectors

September 16, 2016 by  
Filed under Blogs, Collection Agencies

cease and desist letter

You’re sitting at home having dinner with your family when the phone rings. Who can it be? It’s your local, neighborhood debt collector demanding payment from you on a past due debt.

Dinner ruined…

No one likes receiving annoying calls from collection agencies, they almost always seem to call at the wrong time and can be down right rude.But, don’t worry, you don’t have to put up with these calls, the FDCPA (Fair Debt Collection Practices Act) allows you to stop debt collector calls at any time.

How do you get a debt collector/ collection agency to stop calling?
With a letter of course.
Below, please find a template of a limited cease and desist letter which will stop debt collectors from calling you but, still allow them to contact you via mail. (That way you can still know what’s happening with your collections.)

————
————

Your Name
Your Address

Re: Account XXXX-XXXX

To Whom It May Concern:

You are hereby notified under provisions of Public Laws 95-109 and 99-361, also known as the Fair Debt Collection Practices Act, that your services are no longer desired.

1) You and your organization must CEASE & DESIST all attempts to collect the above debt via telephone. If you wish to contact me, please do so via standard postal mail.  Failure to comply with this law will result in my immediately filing a complaint with the Federal Trade Commission, Consumer Financial Protection Bureau, and this state’s Attorney General’s office. I will pursue all criminal and civil claims against you and your company.

2) Let this letter also serve as your warning that I may utilize telephone-recording devices in order to document any telephone conversations that we may have in the future.

Have a wonderful day.

Sincerely,

Your Name
Your Address

————
————

Mail the letter Certified Return Receipt Requested (CRRR) so you have proof that the collection agency received your request.

Please note that stopping a collection agency from calling you will not make the debt disappear or remove the derogatory account from your credit report.
If you have debt collectors calling and harassing you, utilize this letter to get a little breathing room but, understand that you will have to deal with this issue at some point in the future and repair your credit.
CreditFirm.Net has helped thousands of consumers just like you remove collection accounts from their credit reports and improve their credit scores.

 

 

Why Choose CreditFirm.net?

Assurance. Our Credit Repair process was developed by experienced attorneys.

Speed. Documents are typically processed and sent out for investigation within 3-5 days.

Support. Award winning customer service guarantees your satisfaction.

CreditFirm.net Review

The Secret to Saving $1,500 a Month

August 10, 2016 by  
Filed under Blogs, Credit Repair

save money

If you’re trying to save money you’re probably going to cut as many expenses out of your budget as possible. You can lower your monthly bills by disconnecting your cable, switching to generic products, and couponing but, you may be leaving a large amount of money on the table. Did you know that improving your credit scores can save you over $1,500 a month?

If you have a bad credit score your in the high-risk category for most lenders, which means that you will be paying a lot more in interest than someone with good credit. That’s if you can qualify for a loan at all.

The average consumer with bad credit ends up paying $505.47 a month more for a $250,000 mortgage than someone with good credit. On top of this, the person with bad credit will also need to put down deposits to open utility accounts such as gas, electric, and cable/internet. Your homeowners and auto insurance will likely be double that of the average person with good credit. Let’s take a look at auto loans where the average savings on a $35,000 loan can exceed $383 a month for someone with good credit. Let’s also not forget about credit cards, the average consumer in the US has about $10,000 in credit card debt. What does someone with good credit save when compared to someone with bad credit? About $275 per month in interest charges alone.

If you have bad credit, you could be paying $1,500 a month in interest charges and other fees above what someone with good credit pays.

On top of all of this, having good credit would make you more attractive to employers and possibly increase your earning potential.

If you want to save money you can cut out expenses, use coupons, stop drinking coffee at your local coffee shop each morning, you can even make your own lunch. But, until you fix your credit, you will continue throwing money away and depriving yourself and your family of the nicer things in life.

So how do you get on the path toward saving $1,500 every month?

1. You can start by paying your bills on time.
Make a commitment to paying every bill by the due date. If you’re past due on your bills, work toward catching up on on them and pay them on time, every time. String together 6 straight months of perfect payment history and you’ll see a dramatic change in your credit scores.

2. Pay down your credit cards.
Not only are your credit cards costing you thousands in interest fees but, if maxed out, they are lowering your credit scores. Paying down your credit cards to a utilization rate of 20% or less will increase your scores get take you one step closer to your goal.

3. Stop applying for credit.
Every time you apply for credit an inquiry is placed on your credit report. Apply for credit too often and you will make yourself look like you’re desperate for credit.  Applying for credit too often can cause dozens of inquiries which will lower your credit scores. I know you want credit but, patience is the name of the game. Ideally, you should only apply for credit once every 6 months. So next time you want to apply for any kind of credit just remember that this application will hurt your credit score and cost you $1,500 a month. Then, take a deep breath and put the pen down.

4. Fix your past credit mistakes
If you have derogatory accounts such as late payments, charge-offs, collections, judgments, etc… reporting in your credit reports you will need to repair your credit. CreditFirm.Net has helped thousands of consumers just like you remove negative information from their credit reports and improve their credit scores.

Since 1997, CreditFirm.Net has helped our clients purchase homes, get low interest auto loans, and save millions of dollars by improving their credit scores.

What will you do with your extra $1,500 a month?

 

Why Choose CreditFirm.net?

Assurance. Our Credit Repair process was developed by experienced attorneys.

Speed. Documents are typically processed and sent out for investigation within 3-5 days.

Support. Award winning customer service guarantees your satisfaction.

CreditFirm.net Review

The True Cost Of Bad Credit

burning money

Over your lifetime, a bad credit score can cost you hundreds of thousands of dollars due to higher interest rates and less favorable loan terms. The average consumer with bad credit will end up spending $429,000 more for mortgages, auto loans, and credit cards in their lifetime than someone with good credit.

Just think about that for a second, that’s almost a half million dollars! This is the real damage bad credit can do.

Bad credit means higher loan interest rates but, we’re not even taking into account the thousands of dollars consumers waste on rent instead of putting that money toward their own homes because they can’t qualify for a mortgage. We’re not taking into account the extra thousands of dollars people with bad credit have to pay on their insurance rates. And no one is taking into account the loss of income consumers with bad credit face because their bad credit prevents them from getting a higher paying job or getting promoted.

It seems pretty unfair but, they system is rigged to charge the highest rates from those people with the least amount of money. Keeping the poor poorer and making the rich richer. Changing the system will take time, if it ever happens at all but, there is something you can do to make your life and the lives of those around you better. You can take charge of your credit, become proactive, and fix your credit. You can contact the credit reporting agencies, creditors, debt collectors, and third party data furnishers reporting negative information on your credit reports and work on improving your credit scores. Most people either don’t have the time or don’t understand how to make their case against the creditor and credit bureaus. This is when many consumers start looking into hiring a credit repair company to handle all of the work for them.

Credit repair services handle all of the legwork in dealing with your creditors, debt collectors and credit bureaus. They also file all necessary documents on your behalf and work toward removing derogatory information from your credit reports by leveraging the consumer protection laws given to you by the FCRA, FDCPA, FACTA, and HIPAA medical privacy laws.

CreditFirm.Net has helped thousands of consumers just like you remove negative information from their credit reports and improve their credit scores. Since 1997, we have helped our clients purchase homes, get low interest auto loans, and save millions of dollars by improving their credit scores. Will you be our next success story?

 

Why Choose CreditFirm.net?

Assurance. Our Credit Repair process was developed by experienced attorneys.

Speed. Documents are typically processed and sent out for investigation within 3-5 days.

Support. Award winning customer service guarantees your satisfaction.

CreditFirm.net Review

11 Credit Score Principles You Should Know

July 21, 2016 by  
Filed under Blogs, Credit Score

credit scores

 

Credit scores can seem like a very complicated topic for most people but, it doesn’t have to be. Deep down there are a few core fundamental principles that will help you better understand your credit, lets go through them.

1. Credit Report
Your credit report is a history of how well you repay debt. It includes your payment history on debt such as mortgages, auto loans, credit cards, personal loans, student loans, as well as collection accounts from third party debt collectors, inquiries and public record information such as any bankruptcies, Tax Liens, or Judgments. You credit report also contains your personal informations such as your names and aliases, addresses, date of birth, phone numbers, and employers.

2. Credit Bureaus
Your credit history is maintained by companies often referred to as credit bureaus or credit reporting agencies. These companies gather and collect information about you and your payment history from creditors, debtors, and third party data furnishers. The 3 largest credit bureaus are Experian, Equifax, and TransUnion.

3. Credit Score
Credit scores are calculated by aggregating the information from your credit reports and running that info through a mathematical formula designed to score your report into a simple 3 digit number.

4. Different Credit Scores
Not only are there different scores for each of the 3 credit bureaus, there are several different credit scoring models which are used to get credit scores themselves. For Example, the most commonly used credit scoring model is the FICO score but, most people don’t know that there are 49 different scoring models of the FICO score. There are also a plethora of other models used to generate scores like the TransRisk Score, Vantage Score, Plus Score, ScorePower Score, etc…. Each of these scoring models uses a different scoring range and mathematical formula to aggregate a score. This is why credit scores differ from place to place.

5. Credit Score Factors
According to FICO (Fair Isaac Company), the developers of the lending industry’s most widely used credit score, the FICO score, there are 5 main factors which are used to calculate your credit score. Those factors, in order of importance are; payment history, credit utilization, account age, mix of credit and inquiries.

6. Free Credit Reports
You may obtain a free copy of your credit reports once a year from the government mandated website www.annualcreditreport.com.
You may also obtain a free credit report from some free credit monitoring services like;
www.creditkarma.com (FREE TransUnion and Equifax Credit Reports)
www.quizzle.com (FREE TransUnion Credit Report)
www.freecreditreport.com (FREE Experian Credit Report)

7. Free Credit Scores
There is no law currently requiring the credit bureaus to provide you with a free credit score but, there are a few websites out there providing consumers with a free credit score. Please note that none of these scores are FICO scores and they will likely differ from your actual FICO score.
www.creditkarma.com (FREE TransUnion and Equifax VantageScore 3.0 scores)
www.quizzle.com (FREE TransUnion VantageScore 3.0 score)
www.creditsesame.com (FREE TransUnion VantageScore 3.0 score)
www.credit.com (FREE Experian VantageScore 3.0 score)

8. Checking Your Own Credit Wont Hurt Your Scores
There are 2 different types on inquiries which report on your credit report, hard inquiries and soft inquiries. When you apply for credit (mortgage, auto loan, credit card, etc…) a hard inquiry reports on your credit report and lowers your score. Checking your credit through any of the sites we listed above incurs a soft inquiry, which means that it is just you checking up on your own credit. Soft inquiries do not lower your credit scores so check your own credit through soft inquiries as often as you like.

9. Negative Information Can Report For…
According to the Fair Credit Reporting Act (FCRA), derogatory information can report for up to 7 years from the date of the first key delinquency, with a few exceptions. Chapter 7 Bankruptcy may report for up to 10 years and a Federal Tax Lien may report indefinitely or 7 years from the date it is paid. This means that if you opened an account is 2010 and became delinquent in 2015, the account may continue to report derogatory info until 2022, 7 years from the date that the account became delinquent (2015), not from the date the account was opened (2010).

10. A Low Credit Score Can Ruin Your Life
A low score means that you will be stuck paying higher interest rates on everything form a mortgage, to an auto loan, to a credit card, even your insurance rates are influenced by your credit scores. It has even become common practice for employers to check credit reports to determine whether an applicant is financial responsible. Consumers with bad credit are deemed higher risk and more likely to commit fraud or steal.

11. The Good News
Bad credit isn’t permanent. CreditFirm.Net has helped thousands of consumers just like you remove negative information from their credit reports and improve their credit scores. Since 1997, we have helped our clients purchase homes, get low interest auto loans, and save millions of dollars by improving their credit scores. Will you be our next success story?

 

Why Choose CreditFirm.net?

Assurance. Our Credit Repair process was developed by experienced attorneys.

Speed. Documents are typically processed and sent out for investigation within 3-5 days.

Support. Award winning customer service guarantees your satisfaction.

CreditFirm.net Review

Why is Good Credit Important?

September 17, 2015 by  
Filed under Blogs, Credit Report, Credit Score

bad credit

We all know that we should strive to have a good credit score, but, why?

Why is having good credit important?

Here is a list of 6 things you will need to have good credit for.

1. Renting an Apartment

Your credit will determine whether you will be approved to rent an apartment as well as the security deposit which will be levied on you. Consumers with low credit scores are often times hit with high security deposits which can equal up to 2 months of rental payments while those with high credit scores may not be required to put down a deposit at all.

2. Setting Up Utilities

Got your new apartment or home? Great, now it’s time to set up your utilities. Electricity, Gas, Water, Cable, Phone, Internet providers will all check your credit in order to determine whether you qualify for service and if you do, the amount of security deposit you will need to put up to establish service. Just like renting an apartment, consumers with low credit scores are often times hit with high security deposits which can range between $250 to $500 per service, equaling thousands of dollars of deposits, while those with high credit scores are not required to put down any deposit at all.

3. Buying a Car

Your credit score will determine the amount of loan which you qualify for, the interest rate, length of term, down payment, and monthly payment amount. Consumers with low credit scores may not even qualify for a loan but, if they did manage to squeak by, the fees would be astronomical.

Lenders would likely ask a consumer with bad credit for;
– Large down payment
– High interest rate
– Short length of term (typically no longer than 36-48 months)
– Small loan amount

But, if you have good credit, lenders will typically offer;
– No down payment
– 0% interest rate
– Long length of term (72-84 months)
– Large loan amount
In the end, the person with good credit can pay less for a more expensive car without having to put a penny of his money down.

4. Getting Insurance

Now that you have a car, you will need to get insurance for it. You may not have known this your credit score actually determines your insurance premium, the amount you pay for insurance. According to certain experts in the insurance industry, a credit score can be an even better predictor of getting into an accident and costing the insurance company money, than your driving record. Consumers with bad credit will have higher insurance premiums than those with good credit.

5. Getting A Job

You got an apartment, a car, utilities, insurance, now it’s time to get a job to pay for all of those things right? But, what does your credit have to do with you getting a job or a promotion? Sometimes, Everything! More and more employers are checking candidates credit reports in order to determine their hire-ability. Job seekers with bad credit are seen as risky because they are looked at as irresponsible, disorganized, and in some cases may be more likely to steal. While those candidates with good credit are looked at as responsible members of society which are organized enough to maintain good credit and likely be the same way at work.

The military also has certain set standards for credit as well. Those with bad credit will never be given top secret security clearance. According to the Department of Defense, “Failure or inability to live within one’s means, satisfy debts, and meet financial obligations may indicate poor self-control, lack of judgment, or unwillingness to abide by rules and regulations, all of which can raise questions about an individual’s reliability, trustworthiness and ability to protect classified information. An individual who is financially overextended is at risk of having to engage in illegal acts to generate funds.”

That pretty much speaks for itself.

6. Emergency

We should all have a rainy-day/emergency fund but, most don’t. So what happens when emergencies hit and you don’t have the cash? Consumers with good credit have a wide variety of financing options, 0% credit cards, low interest rate personal loans, seems like theres always someone willing to lend you a helping hand when you have good credit. But, those with bad credit get caught up in high interest/fee credit cards and pay-day loan places which put them in a never ending spiral of high fees and constant indebtedness.

I don’t know about you but, it seems like only rich people can afford to have bad credit. Consistently over-paying for services and leaving large deposits which they will likely never see again.

Can you afford to continue living with bad credit?

 

Why Choose CreditFirm.net?

Assurance. Our Credit Repair process was developed by experienced attorneys.

Speed. Documents are typically processed and sent out for investigation within 3-5 days.

Support. Award winning customer service guarantees your satisfaction.

CreditFirm.net Review

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