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Below are the 19 most frequently asked questions about credit.
After you feel all of your questions are answered, and you have reviewed our web site, please
email e-book@alllegalcredit-ebook.com and we will assist you in getting started.
How much is bad credit costing me?
How does the consumer do this legally?
How long before the credit bureaus will remove negative items from my credit reports?
How long does negative information remain on my report?
Does paying off my delinquent accounts improve my credit?
Why should I use your e-book?
What if deleted items reappear on my credit report?
How long would it take for me to dispute my own credit?
What is the actual process of disputing items on my credit reports?
Do I need to see my credit reports first?
Should I apply for credit cards while using the e-book?
Does your process, in any way, require me to get a new ID, or Social Security Number?
Get The Credit Bureau FAQs!
What is a Credit Bureau?
How many are there?
Are all 3 important?
How does a Credit Bureau make money?
Who can see my credit report?
- Q: How much is bad credit costing me?
A: Thousands and thousands of dollars! Any amount of bad credit is devastating to your chances for credit approval. In fact, most credit grantors never personally look at your credit report. It's an automated process in which a computer decides whether you're approved or denied. The slightest amount of negative credit can be cause for denial, or escalated interest rates. A clean credit report is a MUST! See this Special Report for more details.
Q: How does the consumer do this legally?
A: All Legal Credit is not a credit repair company. We are
just providing information to consumers in a systematic way that allows
them to dispute their credit reports legally. The
process that our e-book goes through is a complete mental financial
make-over. Therefore, our book is a
financial/credit consultation that walks you through the jungle of the mental side of
creating wealth.
Cleaning your credit the part of the process to "clean the slate" and begin building
wealth. In fact, when you dispute your credit report it is your right (see the Fair Credit Reporting
Act via the links below). In fact, disputing your credit profile is as legal as pleading "not guilty" in a court of law.
Q: How long before the credit bureaus will remove negative items from my credit reports?
A:
There is no definite answer, as the time
varies depending on the initial credit status of each customer.
Having the All Legal Credit
E-book assist in the process eliminates the time invested in learning credit laws
and drafting correspondence for the paper chase with the credit bureaus. It
frees you from crafting carefully worded correspondence and following each
dispute and allows you to focus on cleaning up the mental obstacles that got you
where you are today.
On average it takes between 2 to 8 months. However, in the process you are able
to monitor your credit for 12 months, with no additional charges!
Unfortunately, there are no short cuts when you dispute your credit profile legally.
Q: How long does negative information remain on my report?
A:
Credit bureaus report credit information for a period of seven (7) years. Some states have
special provisions for collections and paid liens. Chapter 7 and Chapter 11
bankruptcies are each reported for 10 years, and chapter 13 bankruptcy is reported for
10 years, both measured from the date of the filing.
Q: Does paying off my delinquent accounts improve my credit?
A:
You would think that would be true. But, again, the credit reporting system just doesn't
work that way.
When you pay an old debt, the negative credit listing
doesn't disappear. In fact, it re-ages, and the seven year clock begins again with that
negative listing. The most ironic thing is that a paid current negative listing is not
any better than an unpaid negative listing.
Q: Why should I use your e-book?
A:
No other company will share these secrets with you because they are not
really secrets. It is just the process that gets confusing for consumers. We start with the source of the problem, not the
result of the problem.
The most common reasons are that individuals either have already tried themselves
and obtained limited results, or they just don't have the time to undertake this task
of all of the research. If
you decide to buy our e-book, you can be assured that you will be receiving the best
information and system possible.
Question for you: If you were having car trouble and you knew nothing about working on cars, would you consult a mechanic?
Absolutely!
Q: What if deleted items reappear on my credit report?
A:
On occasion, a negative listing that was recently deleted will eventually
be verified by the creditor. The Fair Credit Reporting Act requires that the credit
bureau inform you
of reinstatement of a previously deleted listing. The FCRA also makes it more difficult
for credit bureaus to re-report listings. Because of these factors, it is fairly rare for
listings to come back on
your credit history once they've been deleted.
If an item is re-reported, that the credit bureaus initially removed, you will
know how to
re-dispute it quickly. It is a very
simple matter to challenge the listing again at a future time
in order to press for permanent deletion.
Q: How long would it take for me to dispute my own credit?
A:
Again there is no definite answer, because it depends on your initial credit
status, your dedication to review your credit reports and prepare letters
to each of the credit bureaus, and how long it takes you to learn your credit rights
by familiarizing yourself with the Fair Credit Reporting Act (FCRA). In
addition, you must remain organized and effectively draft your correspondence to
the credit bureaus. This process can easily take over a year of diligent work
with no significant credit improvements. Many who start disputing their credit
and trying to create wealth with old habits turn to our e-book after months, or
even years of
work.
Q: What is the actual process?
A:
You make payment for the e-book and we will then email the e-book to you
in both a PDF file and a Word Document so that you can easily change the
information and begin right away.
Each person
is different and each person is looking for something specific. We
guarantee that the e-book process will be enjoyable for you and you will
receive more than you expected. It is such a pleasure to finally
understand why you are where you are and that you have the ability to
get where you want to go.
Once you receive your credit reports, you can now create letters that are
specifically designed to communicate your dispute in such a way that the credit bureaus
will
be more likely to accept the dispute, and conduct an investigation of the
disputed item.
While this may sound easy, any person who has attempted to
dispute their own credit will tell you otherwise. According to federal law, the credit bureaus
may ignore your dispute under a variety of conditions.
At the conclusion of the credit bureau's investigation,
a new copy of the credit report
will be sent to your address showing any deletions, or improvements, as a
result of the dispute process. You will then follow the instructions in
your e-book and
the cycle repeats itself at timed intervals.
A disputed credit listing must be accurate and verifiable
for it to remain on the credit report. If the credit
listing is only somewhat inaccurate, the credit bureau may simply change the item to
correct the inaccuracies. Very often, though, disputed credit items cannot be verified:
the creditor either no longer possesses the information or does not wish to go to the trouble
of verifying it. Also, the reinvestigation must be completed within 30 days or the listing must
be removed. For these reasons, properly disputed credit listings are removed with remarkable
frequency. Each time an investigation is commenced, the odds of receiving a particular
deletion increases.
Q: Do I need to see my credit reports first?
A:
No, most people are looking for financial consultation after they have been denied credit.
It can be very embarrassing and uncomfortable for every involved. Most do not even know
the specific nature of the negative listings appearing on their credit report. It is
not necessary to know exactly what is appearing on the credit report before
you begin work. It is only necessary to know that there is a credit
history problem which needs to be addressed.
An amazing fact
about bad credit, is that almost any small amount of bad credit will trigger
universal credit denial. A little bad credit isn't much better than a ton. So,
even if you believe that there are only a couple of negative listings on your
credit report, it still represents a mental block that you need to clean up.
Q: Should I apply for credit cards while
using the e-book?
A:
You are able to apply for credit cards while in the process,
but you should take care to make sure that you do indeed get approved for any credit you
request. Remember,
even mere inquiries from prospective lenders can be treated as negative credit data. Find
out what the lending institution's criteria is for
granting the credit card or loan you want before submitting the
application, and make sure that you fit and meet their criteria. If not, you
SHOULD NOT apply, as it will only add negative credit information to your credit history.
Q: Does the process, in any way, require me to get a new ID, or Social Security Number?
A:
No, we never would ask anyone to get a new ID, or a new Social Security Number, EVER.
Be aware of this procedure, band-aids are only temporary, and yes, can be illegal.
We just ask that you be open-minded and ready to accept full responsibility -
which is a fun thing with us. We are not your parents, but rather your friends.
How Do I Get Started?
Get The Credit Bureau FAQs!
Q: What is a Credit Bureau?
A:
Credit bureaus track personal, financial and credit information on individuals. This includes information taken from public records,
personal identification and debt information. With the exception of back child support
payments, creditors supply information on a voluntary basis. Credit
bureaus are strictly private 'for profit' entities, and are not government institutions.
Q: How many are there?
A:
There are 3 major credit bureaus: EQUIFAX, TRANS UNION and EXPERIAN
(formerly known as TRW).
Q: Are all 3 important?
A:
Yes, when you go to apply for a mortgage, or re-finance your home, a mortgage broker
will look up all three credit bureaus. However, other creditors, your employer, or a potential
landlord may only pull up any one of the three reports, therefore it is imperative that
All Legal Credit work on all three of your credit reports. Yes, your investment for disputing items
includes all three, Equifax, Trans-Union and Experian.
Q: How does a Credit Bureau make money?
A:
A credit bureau is a commercial business. It makes money by selling your credit
report to others. A person with bad credit means more business for them, as such a
person applies for credit about ten (10) times more than a person with good credit.
Q: Who can see my credit report?
A:
Anyone who wants information for a business transaction between you and them may
obtain your credit report. This may include an insurance company, a prospective landlord,
a prospective employer, a collector, banking institution or a government official.
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To review the federal law that protects your credit reporting rights, known as the Fair Credit
Reporting Act ("FCRA"), you may select from the following
options:
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1. To review a copy of the FCRA in effect as of July 1999 prepared
by the
staff of the Federal Trade Commission, the federal agency that regulates
trade, including credit reporting bureaus, click
here
2. To download a copy of the FCRA as amended through November 12,
1999 as a portable document format ("PDF") file, click
here
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How Do I Get Started?
Do you have any further questions?
Please email us at: ebook@alllegalcredit-ebook.com.
Disclaimer:
None of the information contained on any of All Legal Credit's web pages is meant to be
legal service advice or a substitute therefore. We provide the information contained on
these web pages comprising the All Legal Credit web site solely to assist you with our proven methods
of restoring credit and getting negative, erroneous, incorrect, obsolete, and misleading
information removed from your credit reports for the purpose of re-establishing your good credit.
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