Top 5 Credit Myths - Learn the Secrets the Credit Bureaus Don't Want You to Know

1. Top 5 Credit Myths Revealed Finally! Learn the TRUTH About Credit Presenter: Dana Williams, the “Credit Repair Specialist” | GetYourCreditStraight.com

2. “The number one problem in today's generation and economy is the lack of financial literacy.” – Alan Greenspan Presenter: Dana Williams, the “Credit Repair Specialist” | GetYourCreditStraight.com

3. WHAT YOU’LL LEARN TODAY TOP 5 CREDIT MYTHS AND THE TRUTH ABOUT CREDIT 5 WAYS TO INCREASE YOUR CREDIT SCORE HOW I GOT MY CREDIT FROM 587 TO 720 IN ONLY 60 DAYS! Presenter: Dana Williams, the “Credit Repair Specialist” | GetYourCreditStraight.com

4. MYTH #1 Credit Agencies are empowered with some kind of governmental authority. TRUTH Credit agencies have no legal authority at all. They are simply private companies who are in the business of selling credit information. Presenter: Dana Williams, the “Credit Repair Specialist” | GetYourCreditStraight.com

5. MYTH #2 Credit agencies are required by law to keep derogatory items on your credit report for 7 to 10 years. TRUTH There is no law for the credit agencies to report anything on you at all. Just the opposite is true! Credit Agencies are required by law to automatically remove all derogatory items older than 7 years or in the case of a bankruptcy, 10 years. Presenter: Dana Williams, the “Credit Repair Specialist” | GetYourCreditStraight.com

6. MYTH #3 It is impossible to get a bankruptcy off. TRUTH Bankruptcies come off just like any other derogatory which is incorrectly reported, obsolete, erroneous, misleading, incomplete, or cannot be verified. Remember, the nature of the item has nothing to do with its removal under the Fair Credit Reporting Act. It was enacted by Congress for the very purpose of protecting consumers from the intrusion of the credit agencies into our lives. TOP 5 CREDIT MYTHS REVEALED Presenter: Dana Williams, the “Credit Repair Specialist” | GetYourCreditStraight.com

7. MYTH #4 If you get a derogatory item removed, it will just come back. TRUTH When it is removed with cause under the Fair Credit Reporting Act, it cannot legally be placed back on your credit report. The same law requiring its removal prohibits it from being placed back on. TOP 5 CREDIT MYTHS REVEALED Presenter: Dana Williams, the “Credit Repair Specialist” | GetYourCreditStraight.com

8. MYTH #5 I cannot restore my credit. TRUTH Yes, you can! You can try to do it yourself (just like you can be your own attorney in a court of law). OR, you can allow licensed professionals to educate and assist you in restoring your credit profile. TOP 5 CREDIT MYTHS REVEALED Presenter: Dana Williams, the “Credit Repair Specialist” | GetYourCreditStraight.com

9. TOP 5 CREDIT MYTHS REVEALED 5 TIPS TO IMPROVE YOUR CREDIT SCORE #1: Pay Your Bills on Time. Because your payment history makes up approximately 35% of your credit score, a strong record of on-time payments is key. One missed payment could lower your score significantly. Stay on top of your credit card, loan, and utility bill deadlines, making at least the minimum payments. #2: Pay Down Debt. Large loans and maxed out credit cards are going to drag down your credit score. Try to keep a low debt-to-credit ratio, meaning that your credit card balances should be only a small fraction of your available credit. For instance, if you have a limit of $10,000, your revolving balance should stay well under $3,000. Note that credit bureaus look at both your total debt-to-credit ratio as well as the debt-to-credit ratio of each credit card, so do your best to maintain favorable ratios for both. Note: If you “maxed” out your credit cards, this will affect your credit score negatively as well. #3: Don’t Close Established Accounts. A short credit history may have a negative effect on your score, but a short history can be offset by other factors, such as timely payments and low balances. #4: Limit the Amount of New Credit Accounts You Apply For. Each time you apply for a new loan or a new credit card, your score drops. This is because it has been statistically proven that those acquiring more credit are a bigger lending risk than those who are not. The credit scoring programs are designed to distinguish rate shopping from opening new credit. So if you are shopping for a mortgage or loan, do it in a short, focused amount of time. If you request a copy of your own credit report, or if creditors are monitoring your account or looking at credit reports to make prescreened credit offers, these inquiries about your credit history are not counted as applications for credit. #5: Establish a Good Credit Mix. Many credit-scoring models consider the number and type of credit accounts you have. A mix of installment loans and credit cards may improve your score. However, too many finance company accounts or credit cards might hurt your score. Presenter: Dana Williams, the “Credit Repair Specialist” | GetYourCreditStraight.com

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11. GET MORE FREE TIPS ON CREDIT Independent Representative for Financial Education Services Phone: 469-251-0076 TOP 5 CREDIT MYTHS REVEALED Presenter: Dana Williams, the “Credit Repair Specialist” | GetYourCreditStraight.com

12. QUESTIONS THANK YOU! ARE THERE ANY QUESTIONS? TOP 5 CREDIT MYTHS REVEALED Presenter: Dana Williams, the “Credit Repair Specialist” | GetYourCreditStraight.com