Frequently Asked QuestionsLearn About Credit Repair 201: Lesson 4 of 4
How Does the Process Work in Removing Bad Credit Off My Report?
Credit Repair — Is It Legal? How Much Does NCF’s service cost? How Do I Pay the $5 Deleted Item Fee? Does the Program Offer a Guarantee? How Does the “Consumer Protection Warranty” Apply? How Long Does the Process Take? Do I Need To Know the Status Of My Report “Prior” To Signing Up With NCF? Do Negtative Items Need To Be Paid Before They Can Be Removed From My Report? If I Pay Off All My Bills, Does it Repair My Credit? Can Deleted Items Reappear On My Report? Can I Restore My Own Credit? I Don’t understand Completely How the Service Works Exactly. When the Service is Completed, Will I Get Approved For Credit? Does The Law Require That An Accurate Item Stay On A Credit Report For 7 Years? Will I Be Opening A New Credit File Or Establishing A New SS# Or Tax ID Number? How Will I Be Notified Regarding The Progress On My Account? Who Do I Contact Should I Have Questions? As An NCF Member, What Is My Responsibility?
Our Attorneys are experienced and will present your case effectively and tenaciously. Information that is not properly validated must be removed by law, even if it is accurate. Regardless of accuracy, credit bureaus are often unwilling to invest the necessary resources, or unable to get the credit grantor to invest the resources to validate the disputed item. Oftentimes, it becomes a matter of economics. If the case is presented properly, it is often more difficult (expensive) for the credit bureaus to substantiate the item than to simply remove it. The law requires more than just a form letter to verify that an item is accurate. If the credit bureau confirms an item on your report, your assigned attorney will ratchet up the intensity of the challenge and re-present it. This forces the bureau to invest additional time and expense in conducting a new investigation.
Does the Program Offer a Guarantee? It is important to understand there are no absolute guarantees involved in any legal matter; just as an attorney in a court of law could never guarantee a judge would rule in their favor. However, based on our positive and successful past experiences we offer our members the industry’s only MONEY BACK Consumer Protection Warranty to protect their membership investment. How Does the “Consumer Protection Warranty” Apply? As long as you have complied with the terms of your membership agreement we believe you should not have to pay for ineffective service: If there are no derogatory items removed from your report in the first 3 months of membership, at your request we will terminate your membership and refund you all membership fees paid. At the conclusion of your 12 month membership, if there has not been an increase in your credit score we will refund 100% of your membership fee. How Long Does the Process Take? Each case varies significantly. The most important variables are how involved your credit issues are and the time it takes for the credit bureaus to respond to the attorney assigned to your case. It is impossible to give a specific time since each case is different and each case is different. It also involves your input as well as timely responses from the credit bureaus. If you forward your credit reports on a timely basis, you can expect dramatic progress within the first 60 days. Thereafter, progress will run smoothly and steadily. NCF’s “participating” member, will, on average, experience 1/3 of the negative items deleted every time the credit bureaus are challenged. Many members complete the entire process within 6 months. Some of the more complicated cases will often need to utilize NCF’S one-year membership. As previously mentioned, progress will vary greatly based on your prompt forwarding the received information, the nature of your case, and the cooperation from the credit bureaus. Do I Need To Know the Status Of My Report “Prior” To Signing Up With NCF? No. Most of our members aren’t aware of every item on their reports, but once obtained, your attorney will easily determine what items need to be removed. Do Negtative Items Need To Be Paid Before They Can Be Removed From My Report? No. The fact that a derogatory item is paid has nothing to do with it being removed from your report. It’s important to know removing an item from your report DOES NOT eliminate your obligation to that creditor; it simply will not appear when a potential credit grantor is evaluating your report. However, leaving an item unpaid runs the risk of the creditor taking further action against you that damages your credit after it is repaired. For example: Submission to a collection agency or filing it with a Small Claims Court. In either case, you receive ample advanced notice to contact the creditor in order to settle the matter before damage to your credit appears. You can also negotiate to settle unpaid obligations – ask for professional assistance. If I Pay Off All My Bills, Does it Repair My Credit? That assumption is logical but NOT true – The credit reporting system does not work according to logic. Paying an item that is on your credit report extends the time that the item will remain on your report with the 7 year clock starting all over again! Ironically, a paid in full negative item is not generally looked at any more favorably than an unpaid negative listing. Without professional help, more often than not, you won’t really benefit by paying the old debt – IN FACT, YOU ARE LIKELY TO MAKE IT WORSE! Can Deleted Items Reappear On My Report? Occasionally, the creditor will verify an item that has been deleted. The newly amended Fair Credit Reporting Act has provisions to protect you against items being reestablished on your credit reports. Additionally, by law, you must be notified prior to a previously deleted item getting reported again. It is rare for a listing to re-appear on a report once it’s deleted. If an item is re-reported, it is a simple matter to challenge the listing once again and press for permanent deletion. If an item is re-reported, your attorney will credit you toward your next deleted item, or promptly refund the $5 fee at your request for the re-inserted item. Can I Restore My Own Credit? Absolutely! You can repair your own credit, represent yourself in court, be your own doctor or paint your own house. Given the time, energy, and commitment, you can learn to do most of what our attorneys do on your behalf. Our attorneys are professionals who specialize in credit restoration. They devour credit law and your rights under the applicable consumer protection laws. Like anything, a professional is often able to accomplish a task more quickly and effectively than a layperson. The ultimate question you must ask yourself as a lay person is – are you willing to invest your time, frustrations, and total commitment to apply to this daunting task? I Don’t understand Completely How the Service Works Exactly. Another reason you should consider using NCF’s attorney’s to represent you. When your car breaks down you may not understand how to repair the problem. Even if you do, you may prefer to spend your time doing something more enjoyable. What’s important is NCF’s attorneys know everything about credit law issues and YOUR rights under the law. Your assigned NCF attorney will be successful in restoring your credit in a prompt manner. When the Service is Completed, Will I Get Approved For Credit? You should get approved for credit as long as you meet the requirements the “credit grantor” requires, separate from a clean credit report. Example: Employment, income to debt ratio, housing, etc. Oftentimes, little, or, no credit is as limiting as bad credit. If you don’t have enough positive trade lines on your credit report you may want to consider adding new credit lines through NCF’s Member Service dept. Does The Law Require That An Accurate Item Stay On A Credit Report For 7 Years? No. The law limits negative information from staying on your report longer than the 7 year maximum. Also, the credit bureaus can delete the item at their discretion. Will I Be Opening A New Credit File Or Establishing A New SS# Or Tax ID Number? NO, that is fraudulent! Simply put, we legally challenge the credit bureaus, exercising the rights extended to you, by Congress, and forcing the adverse information from your credit reports. How Will I Be Notified Regarding The Progress On My Account? Credit reports will be sent to you regularly from each of the three major credit reporting agencies. You will then see the items being removed from your report. It’s likened to losing weight – every time you step on a scale and notice you are down a few pounds, your patience, perseverance, and working hand-in-hand with NCF, you will ultimately reach your goal. Another important feature is having immediate 24/7 access to your personal online account where you can instantly check to see the status of all three credit files. Who Do I Contact Should I Have Questions? If you need to contact NCF, you will be given our direct phone number to our Member Services department, e-mail address, and fax number. NCF’s attorneys offer the association significant discounted rates. For that reason, members may not contact the attorneys directly without incurring an additional fee. However, Member Service’s representatives are well equipped to handle all of your service needs. As An NCF Member, What Is My Responsibility? You must make sure your membership and “correction fees” are paid as agreed as outlined in our Service Agreement. Additionally, as you receive updated information it’s vital for you to forward it to NCF promptly to prevent delays and keep YOUR progress moving. Other than that, exercising patience is important. You can expect regular updates coming directly to you from the credit bureaus in the form of updated credit reports. |
