Credit Repair, the SILVER BULLET?

By
Services for Real Estate Pros with Financial Education Services

In recent weeks I have had to address the issue of what role the credit repair process plays in helping a person improve their credit rating.

The concept of utilizing credit repair to improve your credit rating is only one part of the puzzle and requires that the client understand that in most cases simply applying the credit repair strategy is not enough. A person must be willing to do other things to outside of the credit repair process to maximize the credit scores.

When you review a clients credit profile to see if they are a good candidate for the credit repair program we must first understand what the total profile of the client is.

• Does the client have a job?

• Do they have any additional accounts open that report to the credit report?

• If so are they able to make monthly on time payments?

• What type of accounts do they have open?

• How old is there oldest delinquent account?

• Do they use a budget work sheet?

• How committed to improving their credit score are they?

These are a few of the questions that are asked in the consultation process to better understand the client capabilities as well as there level of financial education and dedication to the credit improvement process.

It is also important to understand the client's goals and expectations. If you don't know this you are potentially setting yourself and the client up for failure. Clients need to have a realistic expectation of the credit repair process and any changes they may have to make in how they handle there finances.

The credit repair process often requires the client to re-establish new types of accounts to begin the rebuilding process. The effect of good payment history reporting to the credit report along with the deletion of unverifiable, obsolete and erroneous information from the credit report will have a profound effect on the credit scores.

Correcting one's credit in many cases also means re-training a client in the way they handle and think about there finances. United Credit Education Services provides the necessary tools along with the credit repair process that allows a client to get proactive in the credit repair process by providing valuable financial education.

In closing the answer is this; Credit Repair is not the SILVER BULLET. It takes a combination of things all happening at the same time to improve the credit scores. It won't happen overnight, but if you employee a series of tactics, one being credit repair, your chance of success increase dramatically!

Mark Bustamonte
Tri-Star Consulting Group
CEO
http://www.unitedcredited.com
http://www.tristarconsulinggroup.com
mark@tristarconsultinggroup.com
866-840-2240 Toll Free

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Ambassador
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
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I was talking to a mortgage broker today, and he told me that he was able to change the score from 635 to 714 in just 4 days... This is shocking
Nov 14, 2007 03:56 PM #1
Rainmaker
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Mark Bustamonte
Financial Education Services - Farmington Hills, MI
Get the Credit You Deserve

If he is using a rapid re-score process through his credit service it is possible. hard to believe but possible i guess. I would think it is not the norm.

Anyway most people that enter the credit repair process aren't candidates for the rapid re-score process.

Nov 14, 2007 03:59 PM #2
Ambassador
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

I guess, you are right. Difficult to expect miracles. If it were so easy 100% of the time, there would not be such thing as bad credit.

Thanks

Nov 15, 2007 06:10 AM #3
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