Credit Reset/Restore is the removal of inaccurate, unverifiable or obsolete information on a credit report.
Just what does that mean?
Technically, the credit bureaus correspond with the creditors and determine if the trade line is correct. They are to receive documentation from the creditors verifying the item and how it is reporting as correct.
The trade line must be accurate. If you have had a bankruptcy, each trade line on the credit report must be zeroed out. If you have had a short sale, they cannot list it as a foreclosure. If you have been late 2 times and they list 3 times, they must change it.
It cannot be obsolete – that is, beyond the legal time line. Most items can only stay on a report for a maximum of 7 years. Bankruptcies can stay on for 10 years.
We find that a lot of items are invalid – that is, they are unverifiable, not documentable, or obsolete. Thus, they must come off!
A lot of people are in the dark about credit, credit scoring and credit restoration. Perhaps even you. They know little of credit scoring and how it is derived.
Personal credit is one of the most important factors in your financial life. It affects whether or not you can purchase a home, a vehicle, it affects where you live and raise your children, and how much you pay for insurance, among other things. It can also affect whether or not you receive a promotion or to obtain a new job.
The Rules of the Game
Credit education available:
- Can you imagine having to play a game, such as chess, against someone who knows the movement of the pieces and you do not? How is this played fairly?
- The game would be very hard to play. Credit and debt collection is the same way.
- Creditors and debt collectors will SPIN the truth into WHAT you cannot recognize.
- You do not understand. And you have no way to determine what the truth is: what are the game rules?
- Now you have a company who knows and is willing to teach you the rules. And they are known as the Credit Genius.
- Checking Your Credit and Credit Scores
- Create Raving Employees
- Credit Education
- Credit Repair
- Debt Collectors – How to Protect Yourself Legally
- How Credit Scoring Works
- How Much Does Bad Credit Cost You?
- How to Kill Your Credit Score
- Positive Trade Lines
- Riskiest Places to Use Your Credit Card
- The Best Cards for People With Bad Credit
- The Fair Credit Reporting Act
- Who Do You Trust
- Women, Credit and Your Credit Life
This is a topic that very few, if any, credit restoration service companies offers. But we do! Here at creditgeni.us, we are very passionate about this topic, as it affects so many people. Like credit education, most people have no knowledge of the debt collection process and how to effectively assert your rights.
And I wrote a book: Debt Collections, Lies, Damn Lies and Deceit
Creditgeni .us warning
You have the right to remain silent when talking with a debt collector. Anything you say can and will be used against you. You have the right to speak to an attorney. You are under no obligation to speak or listen to a debt collector. You have the right to have a debt collector prove that the item(s) is/are yours. This proof must be in written form. You do not have to prove your innocence –they have to prove your guilt.
Some questions to consider:
- When are they allowed to call you?
- Can they call you at work?
- Can they discuss the debt with your family?
- Can they lie and deceive you?
- How do you respond to a Dun letter? By the way, what is a Dun letter?
- What is a debt validation letter?
- Can you stop debt collector phone calls?
- If you are speaking to a debt collector, what questions should you not answer?
- What are the statute of limitations? How does it affect your debt?
- How can I respond to a legal notice?
We can answer these questions and many others. We are here to help you and protect you.