Debt Elimination Success Seminar
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Section 1
A Look at Debt
History of Debt
Credit Card History
Current State of Debt
How You Got Into Debt
Good Debt Bad Debt
Business vs. Personal Debt
Section 2 Dealing With Your Money
The Two Step Plan
Doing The Two-Step
Step One
Step Two
The Paths Out of Debt
1- Create a Debt Payment Plan
2- Neogtiate Better Rates & Terms
a.Consolidation Loans
b.Consumer Credit Counseling Services
3- Negotiate Lump-Sum Settlements
4- Bankruptcy
5- The Easy Way
6- Win $1,000,000
Living Debt-Free
Manage Your Money
Make More Money
Save Money
SameMoney-MoreFun
Stay Debt-Free
You as a Business
Section 3 Dealing With Your Creditors
Alerts/Scams
The Credit Industry
Credit Industry
The Fine Print
The Secondary Debt Market
The Debt Collection Process
Original Creditor
The Charge-Off
Collection Agency
Legal Problems
Dirty Creditor Tricks
Dealing with Debt Collectors
Dealing with Debt Collectors
Statute of Limitations
Cease and Desist Letter
Section 4
The Credit Report
The Credit Report
Credit Score
Credit Repair
Section 5
Dealing With Yourself
The Critical Factor
The Art of Prosperity
The End of Failure
Prosperity Coaching
Section 6
Kids and Money
Kids and Money
How to Pay for College
Section 7
Debt Information
Bookstore
Debt Facts
Radio Show
Resources
About Us
Privacy Policy
Site Map
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"We can erase your bad credit—100% guaranteed."
"The Secrets that the Bureaus don’t want you to
know about obtaining AAA Credit!"
"Create a new credit identity—legally."
I’m sure you’ve seen these types of advertisements all over the place. It seems like when I’m in my car at a stoplight I see the signed stapled to the light pole “WE FIX CREDIT”, or flashing advertisements on the internet “Legally Erase Bad Credit”. I’ve even met people who claim that they have a “special disk” that holds “all” the secrets of credit repair and I’ve purchased a few books from Credit Repair clinics. I’ve also heard one couples horror story about paying a mortgage lender $2,000 to hack into the credit bureaus computers and remove all the bad credit.
My all time favorite scam that thousands of people have done is crediting a “new” identity. This is done by applying for a new social security number or slightly altering your social security number or name. Then you are encouraged to apply for new credit with this new identity. This whole concept is packaged and sold as “The secret that the Credit bureaus don’t want you to find out” and you typically buy this “program” online and download the book.
What this person or company is teaching consumers to do is quite frankly…. ILLEGAL! When a person signs a credit or loan application they are solemnly swearing that everything is true and correct. If they are not disclosing they have two social security numbers or misspelling the middle initial they are lying on the credit application and potentially committing bank fraud.
What these Change Your Identity companies are also neglecting to tell consumers is that with the “new identity” they will have No Credit. Having No Credit is just as bad, if not worse, as having Bad Credit. With both scenarios applying for new credit would require signing up for a secure credit card with a high interest rate. The difference between the people with the bad credit is that they would not be commit bank fraud by putting a bogus or newly developed social security number.
Being a Credit Bureaus FICO Specialist I can testify that it is true you can improve your credit anywhere from 25 to 200 points in as little as six weeks. However, it is not something that a person who is advertising on a light pole or teaching your how to obtain a new identity can do for you. Having good credit is more than just trying to take off negative marks on your credit report or trying to create a new identity.
If you have been encouraged by a Credit Repair Agency to alter your identity or have been told that they have “friends” who work at the Credit Bureaus then I suggest that you file a complaint against them with the FTC (Federal Trade Commission)*. What many people are not aware of is in a Criminal Court of Law the excuse of “I did not know I was committing a crime” or “they made is sound so legal” usually does not hold up as a Defense to Committing a Crime.
FTC claims and actions taken against Credit Repair Clinics on behalf of the average consumer
http://www.ftc.gov/opa/2003/08/nationwide.htm
http://www.ftc.gov/opa/1998/08/quaite-2.htm August of 1998
* The Federal Trade Commission regulates credit bureaus and credit repair organizations. For more information contact: The Public Reference Branch, Federal Trade Commission, Washington, D.C. 20580.
The Credit Report
Credit Score
Credit Repair
Your Free Credit Report
The History of the Credit Report
Credit Report Tips
Credit Repair Scams
Credit and Your Career
Consumer Alerts for D.C. Credit Services and Camco
Some collection agencies has started reporting old debt as new. Find out more here and here's a letter that you can use to file a complaint if this has happened to you.
Read the transcript of Andrea Villarreal from Better Scores Better Rates’ "I Hate Debt" radio show interview.
Improving Your Credit Score 1
Improving Your Credit Score 2
Listen to Andrea R. Villarreal from Better Scores Better Rates’ “I Hate Debt” radio show interview.
Segment 1
Segment 2
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