Simply put, Credit Restoration, also referred to as credit repair, involves the process of disputing the accuracy or verifiability of accounts that’s listed within your credit reports. This involves the actual preparation of written dispute letters mailed to the three major credit bureaus – Transunion; Equifax; and Experian. Disputes can also be sent to creditors/collection agencies to request a verification of debt. Disputes will generally include an explanation of why the error should be removed and any supporting documentation if applicable. Credit Restoration should not be confused with debt settlement or credit counseling companies. Those are separate and distinct services that can offer a form of consolidating debts to be paid monthly along with some education on budgeting; finance; etc. 

In accordance with the Fair Credit Reporting Act, a consumer has the right to personally dispute incomplete or inaccurate information. Oftentimes, consumers do not have the time or knowledge to discern the laws and statutes as it relates to their credit concerns. As a result, they will employ a credit repair organization to assist with the disputing process in an effort to advance the process in their favor. Many consumers have experienced positive results evidenced by account deletions and an increase in their credit scores. Credit Restoration can work when partnered with an ethical and reputable professional. Become Credit Worthy and start experiencing Your “Best” life today!

1. Order and Review all three credit reports 6 weeks prior to applying for a major loan ex) car; home etc. This will allow you to review any errors and provide time to dispute and correct those mistakes.

2. Never borrow money from family. This borrowing method has been known to sever blood ties.

3. Keep your monthly debt usage ratio on revolving lines/credit cards at 20% or lower.

4. Don’t rely on your credit cards for daily living expenses. That’s a sure way to fall into a financial pitfall.

5.) Don’t apply for multiple credit cards at once. Those “permissible” inquiries can decrease your credit scores.

6.) Be careful when applying for a car loan. Dealerships may run your application through their credit system numerous times just to get you approved – all of which will show up as separate inquiries on your credit report. This can wreak havoc on your credit scores.

7.) Create another stream of income that can sustain you – should something happen to your “bread and butter” job.

8.) IRAs and 401Ks are generally protected from bankruptcy and creditors.

9.) Be careful when settling debts with creditors and or collection agencies. Forgiveness of debt is considered income and can be reviewed as income and taxable per the IRS – if the amount leftover from the settlement exceeds $600. Thus raising your tax liability.

10.) When borrowing from or lending to any individuals, always get an agreement in writing BEFORE monies are exchanged. Handshakes don’t serve well in court.

11.) Don’t allow your eyes to become bigger than your wallet. Stay in control of your wants.

12.) If you can’t afford it with cash, you don’t need it on credit.