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The Chronicles of Barack Obama is now over one year old!

3 Tips to Choose the Best Credit Repair Service

By Link Robertson

Many credit repair services make it sound as if all you have to do is pay them and your credit report will be fixed. However this is not true, below is a criteria you should use when choosing a service.

Do Not Pay Large Fees

Many services will charge large upfront fees. Instead look for more standard rates such as $179 for a start up fee and then a monthly fee of $100 or less. Some services will charge per action, I do not suggest this as your fees can add up quickly to more than $100 / month.

Also you should avoid a company that says you must make a large upfront payment, these companies are typically not effective services and are looking to make a quick buck at your expense.

Look For Refunds Not Guarantees

Credit repair can not be guaranteed, esspecially upfront. This is similar to a defense attorney guaranteeing that you will be found innocent of a criminal charge - IT CAN NOT BE DONE

I strongly suggest you avoid any service that make a guarantee, instead look for a refund policy or warranty. Many good services will offer a refund if their service is ineffective or you are not satisfied.


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MyCreditGroup Achieves Fair Credit Reporting Act Certification

MyCreditGroup announced today that its entire credit repair staff achieved the
Consumer Data Industry Association's Fair Credit Reporting Act (FCRA)
certification.

The effort underscores its commitment to practicing the highest degree of
ethical business.

"Participating in this certification program is not only good for our
company, but I believe necessary if our industry is to be given real
credibility by financial professionals and consumers," said Marc Chase, founder
of MyCreditGroup. "The credit repair business is often looked down upon
because many firms have less than stellar reputations in customer service. It's
our job to be the model for how credit repair service companies should operate,
and we take this leadership position very seriously."

The FCRA certification exam is an interactive online training course
designed to
ensure companies and their employees that deal with the FCRA and consumer
reporting issues understand the basic concepts and provisions of the law. The
course
curriculum is divided into six modules:


-- History of the FCRA
-- Consumer Reports
-- Disclosure
-- Identity Theft
-- Enforcement and Penalties
-- Taking The Final Exam


More information about the FCRA certification program is available at
www.cdiaonline.org.

The Consumer Data Industry Association (CDIA) is the trade association for
the credit reporting information industry. The CDIA, with Experian, Equifax, and
TransUnion, is the creator of E-Oscar, the web-based dispute and verification
system currently in use by the credit bureaus and participating data
furnishers. The Fair Credit Reporting Act Certification Program has been
developed by
the CDIA to provide in-depth legal and procedural education for credit
industry professionals.

About MyCreditGroup:

Founded in 2000, MyCreditGroup is one of the most experienced credit
repairand consulting service firms in business, and has helped more than 15,000
individuals to manage their debt and personal finances better. The firm's open
and transparent customer service process covers every aspect of its
operations, from how its fees are disclosed to how it empowers its clients to
improve their personal debt management capabilities. For more information,
visit www.mycreditgroup.com.

Copyright 2008 by MyCreditGroup, Inc. All rights reserved.


Tags: Credit Restoration, Credit Repair, CRF

Why the 'Debt Settlement' Business Is a Scam

Posted By:John Ulzheimer
Topics:Bankruptcy | Debt | Credit Cards | Credit

"On the Money" ContributorJohn Ulzheimer is a nationally recognized credit expert and contributor to On the Money. Learn more at Credit.com or JohnUlzheimer.com.

Q. There are several companies offering to cut your debt in half and make one low monthly payment. If you are carrying large amounts of debt is this an option? How bad will this hurt your credit and for how long? I can't seem to get a straight answer on this. --Darrell S.

Ulzheimer: Hi Darrell. I don’t normally use the word “hate” but in this case I have to do so. I hate that debt settlement companies are allowed to use deceptive marketing like this. It’s my opinion that a lot of these guys belong in a 5x9 cell for what they are doing to consumers who are in desperate situations. Here’s the truth about debt settlement companies…

- The first thing they require you to do is stop paying your bills. This causes your credit scores to tank and might even get you sued by the lender or their collection agency. That’s not in their marketing literature or television commercials. Their theory is that they are going to make your credit card issuers desperate so they can ride in on their white horses and offer them some smaller percentage as a settlement. Of course, you can do this yourself.

- Next they ask you to start paying into a fund that they will use to pay your creditors eventually. Of course, you can do this yourself.

- There is no guarantee that your lenders will accept any settlement offers. Of course, they don’t tell you this in their ads.

- They don’t tell you how much of your money they keep as their fees. Of course, they don’t tell you this in their ads.

- They certainly aren’t truthful that settlements are just as damaging for your credit reports and scores as collections, judgments, tax liens, repossessions, charge offs, foreclosures, and repossessions.

Link to Original Article:

***Keep all this in mind.

AFI

The Best Credit Restoration Company



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