Eric – Military Deployment Causes Financial Distress
Credit Score: 586 to 705
Length of Enrollment: 63 Days
Before going off to serve as a soldier in Iraq, Eric was notified by the military of the California Military Families Financial Relief Act, which provides a six month reprieve of mortgage payments. Taking advantage of this opportunity, Eric invested the money elsewhere when he left for Iraq.
Six months later Eric, still in Iraq, began getting emails about missed payments. To remedy the situation, Eric called the bank up from Iraq. The bank claimed the law did not apply for some reason. “The irony of it is, while I’m talking to this guy, I get mortared, blown up, thrown across the room, knocked silly. I’m thinking, I’m risking my life for this joker and he won’t even give me benefit of law.” Speaking to the manager, he did a loan modification to attempt to fix the problem.
Ten months later, Eric returned home from serving his country. The situation became bleak financially, owing $76,000 on a home $280,000 underwater. The result was filing bankruptcy.
Two years later, Eric began looking to get a VA loan. Looking at his credit report he realized there was a lot of incorrect information so he sought help at Premier Credit. Premier found mistakes and a lot of little things and got it all fixed. One item alone made his score jump 50 points. After renting for two years, Eric qualified for the loan and got back into his home.
“Hire you guys, that’s what I would do, it works! There’s a lot of things I wouldn’t have known were mistakes had you guys not brought it to our attention. That’s what really helps. You can get credit scores for free or you can get services, but what you don’t get is the ability to understand what shouldn’t be there, things that are mistakes that should come off. And even if you do recognize that it is a mistake, good luck trying to write your own letter to those guys because if you don’t dot an “i” or capitalize the right letter in the right place, they ignore it. Your letters are extremely effective at getting their attention and getting their action.”