Wow! Where do I begin? I find it fascinating that so many Non-Profit Organizations that are advertising on National TV are offering Financial Assistance to those in Financial Distress; this is so painful! Just read the small print. . .pause your TV and walk up and read that small print. They tell you your credit will be affected… Please heed this warning!
Moths To The Flame!
Debt Management Programs (DMP), and Debt Settlement Programs (DSP) are the programs that scare me the most for our clients and potential clients! Bankruptcy IS the last resort to be considered! These televised program options (DMP & DSP) are long-time credit score killers affecting your credit worthiness, and really are potentially worse than bankruptcy. These programs end up ruining people’s lives. They adversely affect your credit reports while in the program, and have the capability of making ancient debts that are beyond the statute of limitations, new again by what is referred to as re-aging. There are significantly better options to consider for consumers which we at Austin Credit Group (ACG) have provided our clients.
ACG is here to help with reviewing and evaluating the client’s credit reports to determine the options available to improve credit scores as quickly as possible. If our clients require legal assistance, we refer them to an attorney who understands what is at stake. We will deal directly with creditors by demanding of proof of the debt. Once the proof of the debt is obtained we start negotiations with those creditors. On the flip side, we challenge the appropriate records at the credit bureaus to remove those that meet the guidelines of the Fair Credit Reporting Act.
I truly understand just how scary feeling buried in debt can be . . . I’ve been there myself. What’s most scary is that by going to one of these non-profit organizations most consumers end up in deeper trouble. It really upsets me how the American public is wooed by so many seemingly friendly organizations promising results that restores their life to some sense of financial normalcy, but in the end they are torpedoed into a credit abyss. These programs will include what is reflected initially as positive credit; this immediately turns the account into a negative record on the consumer’s credit profile. Once done . . . there’s nothing that even ACG can do. It kills me that these entities get away with this, and get paid to do it! I wish people would talk to us first to learn more about their options to be considered.
How can these non-profit companies afford the national TV advertising? If it sounds too good to be true, as is often the case, it usually is. Think about it… Their fees are off the hook!
Why Credit Scores Are Important To You.
The bottom line is that money costs money. That’s how the system works. Your credit score is a measurement of just how much things will cost and how much you will pay. The higher your score, the better price . . . and you save money. But with a low score everything costs more. What’s affected? Everything. . .
- Landlords can pull credit to determine whether or not they will rent to you.
- Mortgage rates, meaning that if you don’t qualify for a lower rate you will pay more for your home or rental property than otherwise over the term of your loan.
- Jobs – employers can pull credit as part of their recruitment and placement process, which can mean the difference in obtaining employment.
- Insurance premiums – you pay more the lower the score in most states — you pay more for renters, homeowners and auto insurance premiums.
Poor credit score. . .pay more. It’s as simple as that.
Most of Austin Credit Group’s Credit Improvement services are compensated based on performance. If we can’t remove a targeted item from your credit report, we don’t charge for it.
AUSTIN CREDIT GROUP