Come on. Admit it. You’ve seen the credit repair company ads promising instant credit repair and instant increases to your credit score. Some promise complete removal of every derogatory item while others promise new credit profiles through new social security numbers. In this sea of lies and promotional marketing, it is difficult for the average consumer to understand what is the truth and what is a lie. We have become so accustomed to instant gratification that our desire to “get it now” and the hope of eliminating the pain of derogatory credit overshadows our logical reasoning.
So, with that in mind, let’s separate the truth from the lies or to use a Biblical reference, the wheat from the chaff.
Credit Repair Program Lies
- Lie: They can get every derogatory item removed. For people with limited derogatory items or truly inaccurately reporting derogatory items, this may be true. But overall, any credit repair company that guarantees you that they can get a derogatory item removed is lying. There are simply too many variables and there are things that they can’t do that only you can.
- Lie: They can get you a new clean credit profile. If a company represents to you that they can get you a new credit profile, RUN! There are only two ways to do this. The first is through identity theft by illegally acquiring someone else’s social security number (typically owned by a minor who hasn’t established credit yet or a deceased person). The second method I have only seen done one time in the last 20 years and it involves very high ranking officials at governmental agencies to accomplish. The client that I saw actually get this done was a battered wife whose ex-husband was stalking her and had made death threats. The process she went through was similar to the witness protection program.
- Lie: Credit repair companies can do something for you that you cannot do for yourself. This is absolute hogwash and the exact reason we created Credit Repair College. The purpose was to empower you with the insider information that you need to know so you can take control and never be held hostage by the credit system, collectors or credit repair programs again. The truth is actually the reverse. There are things that you can do for your credit restoration that no company can ever do. Wanna know the sad part? The only thing that a credit repair company can do for you is send out dispute letters. That’s it! There are a plethora of things that you can do that no credit repair company could ever do. The exception to this is if the credit repair company had a general power of attorney signed by you and complete control of your bank accounts, which, for obvious reasons, we don’t advise.
- Lie: They can get derogatory items removed immediately. Unless the derogatory item is not legitimate AND you have documentation from the company reporting it that it is not legitimate or not yours, removing derogatory credit items takes time. If the derogatory item is truly inaccurate AND you have documentation from the company reporting it that it is not legitimate or not yours, a mortgage lender or car dealership can get it removed quickly using the Rapid Re-Score method. Unless a credit repair company has an account setup with a credit report provider (most do not), they do not have this same ability.
This is just a small sampling of the different lies consumers are told by credit repair companies about their credit repair programs. Remember, if it seems too good to be true, it probably is. This is why we developed Credit Repair College, to provide you with the truth about credit restoration so you can take control and get your credit restored in the fastest possible time frame. We purposely keep most of the video training courses to 7 minutes or less because, let’s face it, credit repair ain’t fun (until you see your score skyrocket from the methods and strategies you have employed).
Have you been told a lie by a credit repair company? If so, we’d love for you to share it with us using the comment box below.
Popularity: 1% [?]
{ 2 trackbacks }
{ 2 comments… read them below or add one }
It would definitely help if you included a link to the credit college. Also, I believe I saw somewhere that it is $37 a month or so. How long is this program or does it continue until we decide to stop? Any thoughts of making this college a one time fee? That would definitely make it more worth it for me.
Johnny:
Very good ideas!
I have gone back and added the links to Credit Repair College. You can view my #1 Insider Secret to Credit Repair here.
Regarding the pricing, presently it is set at $37 per month for the video training, forms, letters, updates, webinars, etc. To answer your questions:
Q: “How long is this program or does it continue until we decide to stop?”
A: This is going to be somewhat of a nebulous answer because everyone has different objectives when they embark on credit restoration. Unfortunately, most people do not attack it or approach it with a long term comprehensive plan in mind and as a result, end right back up with bad credit again. To overcome this, we began with a comprehensive plan in mind that takes the long term perspective to credit restoration over a 24 month time frame. Most visitors to this site are coming here because they cannot presently qualify for a mortgage and unless they recently had a foreclosure in the last 12 months, or have tax liens or judgments that they do not have the financial ability to pay off, following our program it should never take longer than 24 months to get a mortgage approval. Beyond that and a great reason why this program is unlike any other is because one of the biggest components to restoring credit and to ensuring that you never have bad credit again is simply this, multiple streams of income which create abundant cash flow and prevent the cash flow interruptions that cause bad credit. In other words, in addition to showing you all of the secrets to credit restoration, we also show you how to generate additional streams of income so you are not reliant on a job or business. If you are at the mercy of an employer or you run your own business and only have one business, you are at significant risk of bad credit. The reason is that if there is a cash flow interruption, like a layoff, firing, getting hurt at work or in a car accident or a business implosion and you don’t have another totally independent stream of income, bad credit comes knocking at the door as you juggle between your cash reserve buffer and the constant stream of bills. As they say, “an ounce of prevention is worth a pound of cure”. So, with that in mind, we begin credit restoration by developing a long term comprehensive plan, immediately generating new positive credit accounts and then begin working towards the creation of multiple streams of income and more importantly, multiple streams of Internet income so you can generate income while you sleep, are on vacation, eating lunch, etc. Most people have no idea how to setup an online business and get overwhelmed at the thought of it, especially if they do not have a programming background. What they don’t realize is how easy it really is, that it can create financial independence so you don’t have to work for someone else, that it creates locational independence so you can be wherever you want to be provided you have an Internet connection and that it creates freedom of schedule (as in, you control your own schedule). True wealth has been defined as having enough passive cash flow to have complete control of your time and location. In his mega best selling book, “Rich Dad, Poor Dad”, Robert Kiyosaki gave a great definition of wealth. He says that wealth is determined by how long you can survive at your current standard of living if you quit your job today. So once you stop getting your regular paycheck, how long can you live off your savings and passive income sources before you go broke? Want to hear the sad part? The national average is 2-4 weeks with 97% of the population no more than 90 days away from bankruptcy. Despite these staggering statistics, people continue to overload themselves with debt and “lifestyle enhancements” like cable TV, large flat panel televisions, cars they cannot afford and hope against hope that nothing interrupts their income. This is Russian Roulette. Eventually, the chamber with the bullet in it is going to line up with the hammer. And when that hammer falls, WATCHOUT! Hey, I am not sitting in judgment. I have made every financial mistake known to man (and probably a few aliens as well) and I have personally felt the devastation of when that hammer drops. To put this in perspective, a few years ago I had lunch with a colleague who quit his job working as a recruiter and started an online job board specific to the niche he understood. It was kind of like a mini-Monster.com specific to nurse practitioners. While we were having lunch, he kept getting email alerts on his Blackberry and he showed them to me as they came over. The email alerts were from his merchant bank account provider (the company that processes credit card payments for his website) notifying him that they had processed a new sale and he had made money. While we were having lunch, he earned $1200 and the best part is, all the work was already done. The customers that paid him were buying marketing and advertising packages on his website. As I watched this, I was in awe and a light bulb went off, “That’s the way I want my life to be!”. Most people cannot imagine or fathom making money while they sleep, while they are having lunch, while they are playing with their kids, etc. It is a truly phenomenal experience and one we share with you at Credit Repair College as you are walked, step by step, through exactly how to do it WITHOUT any programming skills whatsoever. When you find out how ridiculously easy it is, you will want to hit yourself in the head with a frying pan that you hadn’t discovered it and done it sooner. So, to succinctly answer your question, the program is as long as you want it to be and is determined by your objectives. If you simply want information for a fast credit fix, you can get that and cancel your membership. I don’t advise that because that is like treating the symptom not the cause of the disease. When you do that, the cause always reproduces the symptom and usually at a much greater detriment. If you want to learn how you too can become financially independent and earn money while you sleep, then the program is going to take a little longer because you have a great deal to learn and things are constantly changing.
Q: Any thoughts of making this college a one time fee? That would definitely make it more worth it for me.
A: Yes, we have thought of that and are working on that program and pricing as well. The concern here is the dilution of the benefit to people like you. Here’s what I mean: statistics indicate that 97% of the population hasn’t read a book since high school. Combine that with the abject dryness of the topic of credit restoration and the end result becomes people paying money for an e-book that they never read and never get any benefit from. With respect to the actual video step by step training, statistics again show that as a general rule, most people cannot handle overload and get overwhelmed and as a result, do nothing. Not good. Most people (not all, but most) have limited attention spans for this type of thing and as a result, the drip method works much better than turning on the hose full blast. An additional factor is the one time expense for people. But again, to answer your question, yes, we are working on a one time up-front price that is all inclusive.
Thanks for the great questions and we look forward to “seeing” you get your “degree” at Credit Repair College!
Let me know if you have any additional questions that we can answer for you.