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Credit Repair 101. The Basics of Credit Restoration presented by Ascendant Equity. Why Credit Restoration?. Debt Settlement Debt Consolidation Consumer Credit Counseling Bankruptcy. Ascendant Equity. The System Needs Repair And Reform. According to a US PIRG Study:
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Credit Repair 101 The Basics of Credit Restoration presented by Ascendant Equity February 9, 2010
Why Credit Restoration? Debt Settlement Debt Consolidation Consumer Credit Counseling Bankruptcy Ascendant Equity
The System Needs Repair And Reform According to a US PIRG Study: 80% Of All Credit Reports contain errors (8 out of 10) 1 in 4 contain errors critical enough to cause denial of credit. 20% were missing major credit, loan, mortgage, or other consumer accounts that would demonstrate positive creditworthiness of the consumer Ascendant Equity
The Credit Industry And You • Equifax – $1.5 Billion • TransUnion – ???? • Experian – $3.4 Billion Ascendant Equity
HOW YOU ARE IDENTIFIED BY THE CREDIT INDUSTRY Consumers identified in three ways: Name Social Security Number Credit Score Ascendant Equity
How Do I Restore My Credit??? • The credit industry • Credit scoring system • Laws related to credit repair Ascendant Equity
How Your FICO Score Is Calculated Ascendant Equity
Laws Related to Credit Repair • FCRA - Fair Credit Reporting Act • FACTA - Fair and Accurate Credit Transactions Act • FDCPA - Fair Debt Collections Practices Act • FCBA – Fair Credit Billing Act Ascendant Equity
What’s Your Motivation? Ascendant Equity
Credit Restoration-step by step • Make a decision to create no new negative debt • Get all 3 copies of credit reports • Get your FICO Score! • Carefully examine the reports for errors • Dispute erroneous information Ascendant Equity
Credit Repair 101 Q & A Ascendant Equity