Detroit Credit Repair Service
From the outside looking in, it seemed like Amanda blew her life up. She closed her boutique, got a divorce and moved back to Detroit. In essence, her only source of income was gone. The security of having the support of a help mate was no longer an option – unless she remarried which was not up for discussion. In the process of rebuilding her life, Amanda had made a mess of her credit. The good news is that the total amount of debt was comparatively low. The bad news is that there were over 20 lines of bad debt on her credit report.
Like most people, Amanda had a loose understanding of credit. We explained to her that the FICO score was created by Bill Fair and Earl Isaac in 1956. FICO is an acronym that stands for Fair Isaac Corporation. Thirty-five percent of your credit score is based on your payment history. This was bad news for Amanda because she hadn’t made much of an attempt to repay her debts. Thirty percent is determined by the amount owed. This worked to her advantage because she didn’t owe more than $10,000. Fifteen percent is allocated to your credit history length. New credit and credit mix is 10% of the total FICO score respectively.
The Credit Repair Organization Act
Credit repair flyers dotted the neighborhood. Each one guaranteeing a 750 FICO score. She called one of the numbers on the leaflet. Long story short, it was a waste of her time and money. When We encountered Amanda she didn’t want to hear anything we had to say. After witnessing the work we had done with other clients, she decided to take the leap. The Credit Repair Organization Act protects consumers from predatory credit repair companies. Anyone promising to boost your credit score by a particular amount or attempts to charge an initial fee is a scam artist – RUN!
3-Way Credit Boosting
Amanda had big plans. She wanted to re-launch her boutique in Midtown. She needed a business loan to do that. With real estate so inexpensive, it made no sense for her to rent. Amanda wanted to purchase property of her own. This meant that her credit repair counselor had to target all three credit reporting bureaus in order for Amanda to reach her goals. Her counselor analyzed, circled and contacted Experian, Transunion and Equifax. He focused on getting each derogatory item deleted. In addition, he managed to add clean lines of credit to her report. As a result, Amanda’s credit score was boosted with each reporting agency.
Fraud Alerts
While Amanda was at work, someone in Wichita, Kansas had purchased $5, then $100 and later $500 worth of groceries in less than 1 hour. DING-DING-DING! Amanda lived in Detroit and had not traveled to Wichita. She doesn’t even know anyone in Wichita. Digital theft is out of control. Banks are struggling to keep up. When you enroll with Detroit Credit Repair Today, we will send fraud alerts via SMS, informing you of suspicious lines of credit on your report. Our team will monitor, investigate and remove any items that seem questionable. To learn more about how we can protect your SSN, name and reputation, contact us today.