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Who’s Who In The World Of Credit
Welcome once again to the Credit Corner, as in always it is a joy to serve you and yours. This column is always written with the intent of showing the consumer how to restore their existing credit file and also establish new credit. Always remember don’t let credit work against you, but rather, make credit work for you by being better informed about the credit system. Learning how to work the credit system can result in a good credit profile and will enable you to become money and credit wise. In this issue The Credit Corner would like to pass on a little advice on who’s who in the financial industry.
When we speak of who is who in the financial industry we are speaking of the roll that each one play. Such as the banks, mortgage companies, car dealerships, and so forth. As we speak in this column we are not naming any one business but are literally stating facts. In our day to day operations we are finding that other companies are trying to perform the services that we offer and the client is finding out that these companies are failing them in the process. In other words these other companies are not getting the job done and therefore the client is out of moneys and if finding themselves back in our office.
Please remember one thing and I’ll make this point by asking a question. If you needed brain surgery performed one yourself or a loved one would you hire a barber to perform this task? Certainly not! Well why would you go or be suckered in by one of these other companies thinking that you can get credit restoration performed? It’s just like asking a barber to perform brain surgery. One of the main financial institutions is that of the mortgage industry. They tell you that you can go through them to get an all in one. That being get your credit cleaned up, get a higher FICO score and get a mortgage at the same time. And some will go on to tell you that they are certified debt councilors and that may very well be but face the facts they are not a credit restoration company.
If you are a banker you operate within the guide lines of the banking industry. If you are a car dealership you operate within the guide lines of that industry and if you are a mortgage company you operate within the guide lines of that industry but you don’t tell the public that you can clean up their credit, take their monies and not only that you can’t get them in a house because of their credit issues and you don’t know how to handle the situation. As we have learned most companies that state that they can clean up credit is all a scam they actually tell the consumer if they pay this bill or if they pay that bill that their credit score will jump up. If a lender is telling you that nine times out of ten it is to get paid on the front end and also their paid when the loan is closed. If a house is your focal point and some how you are able to obtain it even with torn up credit your interest rate is so high that you are not able to keep up with the monthly house note and you find your self in a foreclosure. These companies also tell you not to worry you can refinance your home in six months to a year when we all know that we have to show at least twelve (consecutive) payments to refinance.
That’s not all when it comes to refinancing, the question is asked is there a provision if I do refinance after a year? Was there a provisional clause in the event of a prepayment? So my advice to you is to stay away from a company that tells you we can do a all in one or we can clean up your credit in order to get you in that house you so badly want. And remember that the only thing that these companies will advise you on is to pay off certain bills so that the end result is to take you to a closing (no matter what interest rate they have you at) so that they can get their commission. A credit counselor can help you set a budget, manage your bills and encourage you to do great things with your finances.
Now this is the most important advice that I could ever give the public. Please, when you are lurching for a company to help you to get your credit straight goes to that company, sit down and actually question the program, get an understanding of what the program is all about and how it works. Most importantly get an understanding of how can the programs best fit your situation. Ask questions of what can me (the consumer) expect. The number one problem in our industry of credit restoration is that you have so many companies out there trying to make a quick buck and do not have the consumer’s best interest at heart. Remember cheaper is not always better. In this industry is the exact opposite and please don’t misunderstand me about pricing you don’t want to pay an arm and a leg, but within reason. Always remember if the company that you have obtained to help you with your credit is a upstanding company and you know it to be so then stick with what you know and who you are familiar with and work until you are one of the success stories. Never pay a company a large sum of money up front, have patients with the company that you are working with and always remember let patients have her perfect work in you.
Prayerfully we have helped someone along the highway of credit restoration, financial success and building or rebuilding your credit rating. Remember there is no debt too big or too small, at Complete Credit Restoration we handle it all. Until the next column may God richly bless you all in the world of credit? Complete Credit Restoration can be reached by simply dialing (910) 223-0476 or our fax (910) 485-1294.
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