Frequently Asked Questions
Why should we enroll today with Premier Credit Consulting?
We simply do it better than anyone else and more importantly, it’s personalized! You can find small fee-based credit repair companies all over the internet. $39 and $59 a month to send template letters to the bureaus, just give us a call if that’s what you’re looking for and we’ll provide you with a link the FTC’s website where you can download them. However, if you’re interested in aggressive, legal, realistic credit restoration then look no further! Premier Credit Consulting was founded on the principles of integrity, honesty and hard work. Our team consists of credit, real estate, mortgage and legal professionals. Not just acquaintances, actual members of our team that work everyday on your account to maximize your results!
Is credit repair legal?
Absolutely! Under the Fair Credit Reporting Act (FCRA), consumers are given the right to challenge or dispute inaccurate, unverifiable, misleading and obsolete information on your credit report. By contracting with Premier Credit Consulting, we perform this service for you by using our expertise and knowledge to maximize results and reduce the amount of time it takes individual consumers who choose to perform this service on their own.
Can items reappear after they are removed?
We see this from time to time. Most often a creditor finally verifies the information which was in dispute and then reports it to the appropriate bureau. Credit bureaus are required to send you a letter notifying you that the account has been added. In the event that a credit bureau adds a deleted account by mistake, we will request that item be removed immediately according to the FCRA.
Do you guarantee the removal of negative or derogatory items?
We do not guarantee the removal of negative information. As a matter of fact, any company that makes such a claim is in clear violation of the Credit Repair Organizations Act and you should not do business with them. Premier Credit Consulting has been extremely successful in removing unverifiable, inaccurate and incomplete negative information from our client’s credit reports.
What is the difference between a FICO score and a Vantage Score?
FICO stands for the Fair Isaac Company and they have developed a scoring system that equates a risk score based on several factors, such as:
Mortgage companies and other financial institutions that extend credit may use the FICO model to determine your credit worthiness and ability to pay for goods and services. The Vantage Score uses much of the same factors, however, the formula to compute the score incorporates additional elements, thus providing consumers and lenders with a different numerical score. If you are considering financing a new purchase, you should consult with your mortgage or financial institution on what scoring system they use and how that may affect your eligibility.
How long does the credit restoration process take?
Everyone wants results immediately! As mentioned earlier, everyone’s credit report is unique and very different; therefore, the time it takes differs with each client. Most clients see results in as little as 45 days and move forward navigating through the program for about 6-8 months. The longer you are enrolled with Premier Credit Consulting, the more likely you are to see inaccurate and unverifiable information removed from your reports.
What’s the cost of bad credit?
It is said, “Those who understand interest, earn it; those that don’t, pay it”. The cost of bad credit is a higher interest rate which means more of your hard earned money goes to your creditor instead of you. Here are some examples:
- Financing a loan: You finance a home with a mortgage of $200,000. Because of low credit scores you pay a rate 1% higher than the best going rate of 4.5%. Your monthly principle and interest on the loan goes up from $1,013 to $1,136 a month for a difference of $123 a month. Over the life of the loan you pay $43,994 more.
- Financing a car: You purchase a reliable used car for $15,000. The loan term is 60 months. If you had good credit you might pay a 7% rate or a reasonable $297 a month, but because of poor credit you pay 26% or a payment of $449 a month. The difference is $152 a month or $9,120 over a five year period. In the end, the car costs you nearly $27,000.
- Financing a television on your credit card: You purchase the latest flat screen TV for your new home at $850. The interest rate on your credit card is 21% and you are diligent in paying it off in 12 months, but you still pay an extra $8.32 a month or $100 in interest for your purchase.
Is it true that negative items can be removed before seven years?
Most consumers experience this problem when conversing with their creditor or a collection agency due to a derogatory account appearing on their reports. They are simply told that the item will appear for seven to ten years and that’s the law, period. Well, according to the law, items may appear on your credit reports for “no longer than” or “up to” seven years. The reality is that the creditor or credit bureau may delete the account anytime before the expiration of the seven year period, especially if the negative information is unverifiable and inaccurate.
Shouldn’t I stop paying my bills if I’ve damaged my credit?
The first step to getting back on your feet is to face your finances! One of the largest factors relating to solid credit worthiness is payment history. While paying your bills on time will not ultimately restore your credit, it will get you back on the path. Keep in mind that our goal is to help improve your overall credit picture and in order to do so we need you to pay your bills on time and in full each month. We’ll help you with the rest.
Can I do this on my own?
Certainly! It’s plastered all over the internet, “you can repair your own credit!” At Premier Credit Consulting, we provide a solution that is inexpensive, straightforward and efficient. If you feel that you’re up to the task and want to tackle it on your own, go for it! If not, we are ready and willing to do all we can to earn your business and will gladly perform the service for you.
GET STARTED TODAY - CALL 877-955-7767