US Consumer Credit Restoration Association

Yes! And no! It just depends on what "free" site you get it from.

You can go to annualcreditreport.com to get a free copy of your credit report from each of the three bureaus once a year. The positive thing is that you do not have to get them all at one time; you can order one every 4 months and be able to check the accuracy of your reports year-round at no charge.

There are other reasons to use this service. First, it is monitored by the Federal Trade Commission and mandated by the government to ensure that everyone has access to their credit report. Second, it really is free of charge and there are no strings attached.

The only negative to this service is that you will have to pay for your scores if you want them. If you are just curious and want to spend $20 or so, feel free to spend your money for them. I tell my clients that what is on the report is much more important than the scores that they see.

Many people don"t realize that there are no less than four DIFFERENT scores depending on who is requesting them. The score that you buy is considered a "consumer" score. Your mortgage lender sees a different score, as do auto dealers and insurance agents who have their own scoring system. Again, buy your score only if you need to.

There are a number of other companies that offer your report to you for free. Most of them require that you sign-up for a credit monitoring service or purchase other materials from them. Most offer a 30 day trial period which allows you to get a free copy and them cancel your subscription before you are charged. While this really violates the spirit of them giving you a free report, rest assured that a large number of people do just that.

What if you keep the service? I have one that I personally use and have been very happy. It costs me about $15 a month, but allows me to get a fresh report ONCE A DAY. While that may sound unnecessary (it really is), your report can actually change day-to-day depending on when your creditors report. The service that I use emails me whenever I have hard inquiry (one that I would initiate with a creditor). If I am notified of inquiries and I have not applied for credit, I may suspect possible ID theft.

They also notify me of major changes right away and even send me an email once a month to tell me that there was no new activity if I had no changes or inquiries. All things considered, I have been very happy and the service has been worth what I pay, if nothing else but for peace of mind.

There are a number of different companies that offer the reports. You will see links above, below, and to the right of this post that are results similar to what you would find on a Google search for "credit reports". Just make sure that the service you use offers a good value and be sure to read the fine print.

So, YES, free credit reports can really be free. Others, while they may cost a little bit, may offer a good value for their price.

Scott

To contact me, please call 219-695-0369 or email scott@usccraonline.com

Credit Problems? Not a Problem for us! Check out our Credit Restoration site and get $300 in gasoline FREE just for registering!

(Another slected entry from a previous post on a different blog)

Guess again....

In the 2004 report "Mistakes Do Happen: A Look At Errors In Consumer Credit Reports" published by the National Association of State PIRGs, it was noted that 79% of credit reports surveyed contained "either serious errors or mistakes of some kind".

79% of ALL credit reports contain errors in case you just glanced over that part!

Additionally, here is what they found.....

• 25% of the reports contained serious errors that could result in the denial of credit, such as false delinquencies or accounts that did not belong to the consumer;
• 54% contained personal demographic information that was misspelled, long outdated, belonged to a stranger, or was otherwise incorrect;
• 22% of the credit reports listed the same mortgage or loan twice;
• 8% (almost) were missing major credit, loan, mortgage or other consumer accounts that demonstrate the creditworthiness of the consumer;
• 30% contained credit accounts that had been closed by the consumer but remained listed as open.

To view the rest of the article, please visit the NWI Loan Guy blog.

Scott

To contact me, please call 219-695-0369 or email scott@usccraonline.com

Is less-than-perfect credit an issue for you? Not for us! Click here to get more information and get your FREE copy of our report "10 Myths of Credit Repair" that could save you thousands of dollars.

Here is a link to another blog I have titled "What is a Good Credit Score". The site, which has multiple entries that I will be reposting here, contains a great deal of information on credit reports in general and how to improve your score.

Visit the site to see What is on Your Credit Report.

Scott

To contact me, please call 219-695-0369 or email scott@usccraonline.com

The best source for Indiana FHA loans, Indiana USDA loans, Indiana VA loans and, of course, Indiana investor loans.

Is less-than-perfect credit an issue for you? Not for us! Click here to get more information and get your FREE copy of our report "10 Myths of Credit Repair" that could save you thousands of dollars.

The Motley Fool ran an article last week talking about the effects of poor credit. I suggest you read it (the link is at the bottom so you read this article first....). The point of the article is that poor credit costs a lot of money due to higher interest rates and other rates such as insurance, etc.

The point of THIS article is that credit restoration pays. Follow me here... if poor credit costs you money and improving your credit saves you money, then credit restoration must be an investment rather than a debt.

To read the rest of the blog and learn how we can help improve your credit, visit us at the Northwest Indiana Loan Guy's blog.

Scott

The best source for Indiana FHA loans, Indiana USDA loans, Indiana VA loans and, of course, Indiana investor loans.

Is less-than-perfect credit an issue for you? Not for us! Click here to get more information and get your FREE copy of our report "10 Myths of Credit Repair" that could save you thousands of dollars.

I have heard that I shouldn't pay anyone to repair my credit. I want to do it myself. Is it hard to do?

Well... that's a loaded question. First, the Federal Trade Commission has said that you should not have to pay anyone to dispute the incorrect entries on your credit report. I agree that you SHOULD not have to, but often times you do.

You see, it's one thing to dispute the entries, but another to get good results. The credit reporting agencies (Trans Union, Experian and Equifax) all make money by selling the information that they collect about you from various sources. They are well aware that they have to follow various consumer protection laws such as the Fair Credit Reporting Act (FCRA). What they count on is that you, the consumer, does not know what you are entitled to under FCRA and that it will be much more difficult for you to successfully dispute the negative items.

Also, the FTC says that information that is "correct" cannot be removed, but they never define the word. The complete phrasing should be "correctly reported". Is there a difference? You bet!

For instance, let's say that Steve's credit report lists a $50 collection from ABC collection agency that they purchased from a doctor's office. If you were to ask if the information was correct, the answer could be Yes. He owes $50 to a doctor. According to the definition, the negative information has the right to stay on the report.

What if we applied the "correctly reported" test? We would then ask the following:

• If the original balance was not $50, how did they come up with that number and what additional fees or charges were added on. Are those charges correct?
• Does ABC collection agency have the original document signed by Steve where he agreed to be financially liable for the charges?
• Does ABC have the right to collect debts in this state?

If the answer is not YES to all three of these questions and other criteria are not met, the item cannot be listed on his credit report. In other words, it was not correctly reported. And, we have not even touched on the Statute of Limitations in the state.

Each year, consumers pay tens or even hundreds of millions of dollars to debt collectors THAT THEY DO NOT NEED TO due to threat of lawsuits, garnishments, liens and even humiliation. If the consumers were well versed in not only the FCRA, but the Fair Debt Collection Practices Act (FDCPA) as well, they would know what their rights are and not be taken advantage of.

At USCCRA, our attorneys are extremely well versed in credit law. In fact, they must have handled thousands of cases before they come work for us. They know the laws and consumer protection acts inside and out to make sure that the negative items on your credit report are timely, accurate and verifiable. If not, they cannot continue to report and keep your scores down.

Now that you know the facts, do you still want to dispute your own credit items?

When you sign up as a member of our association, you pay a one time fee for a 12 month membership that includes all the benefits listed here with a couple exceptions. One of those exceptions is a $5 per item fee for each deleted or positively changed item that is paid directly to the attorneys. Where else can you get an attorney to work for you for just $5 per item? This is much, much less than what many other companies charge and is only paid after the disputed item is removed in compliance with the Credit Repair Organizations Act.

In the near future, we will answer some more frequently asked questions about credit repair and why you need a program like USCCRA.

If you have any questions, please click here to email or contact us at 219-695-0369.

Thanks!

PS. If you are thinking about buying or refinancing a home, you need to talk to the Northwest Indiana Loan Guy.