Best Credit RX
your prescription for superior credit
"At Best Credit RX, we offer the most comprehensive, personal and effective credit repair services available. Our professionals leverage nearly 30 years of experience in the finance, credit repair, collections, mortgage and consulting industries to find the appropriate remedy for your individual, long-term solution."VISIT WEBSITE
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- Customers have the option to pay $600 one time payment for 6 month credit repair program.
- Couples discount available.
- 3 month program available to customers with credit scores between 570 and 639.
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Here at Best CreditRx, we are always trying to find more information that is condusive and educational for our cleints and curious consumers. Basically they are looking for more information about the credit world.
These days, credit cards are inescapable. But for consumers with either no credit history or poor credit, obtaining a credit card can be a real challenge. In cases where the issuer sees the prospective cardholder to be too risky, one option is to apply for a secured credit card. Unlike traditional credit cards, secured cards require the cardholder to put down a cash deposit that serves as collateral if the bill isn't paid on time. Typically, the deposit amount is also the cardholder's credit limit, at least at the beginning.
While secured credit cards are a relatively straightforward product, they aren't the same as prepaid cards, which apply money paid in advance to any charges incurred. Secured cards have more in common with traditional cards. Before consumers apply for a secured card they should be aware of the fine print. It pays to look for the best deal.
Check the APR
Because cardholders may not pay their bill in full or on time every month, the first thing they'll want to know is the annual percentage rate, or APR. The issuer is required by law to disclose the APR, which is typically a little higher than unsecured rates, despite the fact that the issuer is taking on less risk because of the deposit.
Compare fees
Just like other cards, secured credit cards can come with an annual fee. But there's "no typical annual fee."
While some issuers charge about $75 per year, many others choose to waive the fee. But there are other fees to consider. Overlimit charges can be as high as $25 per transaction, while late payment fees can range up to about $39 for each month the account is overdue. All of the fees are disclosed in the rates and disclosures section of the agreement. So read the fine print
Initial deposit
Generally speaking, the deposit amount is up to the consumer. According to Sklar, a few hundred dollars is typical for a deposit, and it's unusual for an issuer -- or a consumer -- to go beyond $1,000, at least when first applying for the card.
Consumers trying to improve their credit scores typically do well going with a limit of between $500 and $1,000, because that's an amount they should be able to pay off each month. If the cardholder wants to raise the limit, they should talk to the bank about increasing their deposit.
Reporting to credit agencies
Because most consumers who choose secured credit cards need to build or repair their credit, it's essential that the card issuer report the account to all three credit reporting agencies. (Reporting) is the most important part of using a secured card, because there's no point in using these cards if they don't (help improve your credit score).
Top 10 Reasons Why Brokers Work with a Credit Repair Company
Top 10 Reasons Why Mortgage Brokers
Should Use Credit Repair Companies!
These services make so much sense; you would assume everyone in the mortgage originating industry would be using them. However, this is simply not the case! So the question is, why not?
Let's outline the top 10 reasons why loan officers and mortgage brokers should utilize the services of credit repair companies.
1) Credit repair works!
Best CreditRx, LLC has years of experience in the credit repair industry. The credit bureaus hate us and our clients love us. We do not dispute that the client has these trade lines; we simply take the creditors and credit bureaus to task for what they report.
We use the consumer protection laws to force the creditors and credit bureaus to produce the information that they must have to verify the debt. More specifically, they must prove that everything is exactly accurate. If they do not have the documentation or they reported something incorrectly, by law they must remove it!
Knowing the specifics of the ever-changing laws is crucial. Now if the consumer knows the in's and out's of the laws as well as P&A; and has years of experience doing this workday in day out, they could possibly get the same results. They can also represent themselves in a court of law, do their own taxes and sell their own homes. But they hire attorneys, accountants, and realtors everyday to get the job done most effectively and as quickly as possible.
2) Credit repair makes a client's credit better.
Best CreditRx, LLC primary focus is credit score improvement. This is done by removing negative items on the client's credit report as well as educating the client on how to use credit to positively affect credit score. The value of our advice can last a lifetime.
3) When negative items are removed, they stay away.
After we have removed negative items from a credit report it is always possible that the original creditor can re-report the negative item. However, this is rarely the case. Given that the original creditor generally will only hold the debt for 4-6 months, they do not waste the time or the money to check on these items and re-report them. What typically happens is that the debt is sold or transferred to a collection agency, which will re-report them in an effort to pressure the client to pay the debt. When this occurs we can go back and dispute the items under the same dispute that removed them in the first place.
4) Removing old negative items improves scores.
35% of your client's scores are based on these derogatory items. This is the biggest chunk of the credit score pie! The less derogatory items they have, the higher their score can be. On average, our clients see a 40% cleanup in the first 45 days.
5) It frees up your time if you are trying to repair your client's credit yourself.
Consider this, as a loan officer you are paid to originate loans. The more loan volume you write, the more money you make. A simple business concept called "leverage" dictates that the way to make the most money is to spend your time doing the things that generate the most income for your business. For you, that means meeting with clients and taking applications.
Show me a loan officer who processes their own loans and I will show you a loan officer who does very few loans. Focus on the things that pay you the most money for the time you spend doing them and delegate the other tasks to people who are proficient at those activities. How many times have you spent hours trying to repair someone's credit only to be unsuccessful or have him or her go somewhere else to get the loan?
Allow Best CreditRx, LLC to be your "Ace in the Hole" for all of your short term and long-term credit score improvement needs.
6) The client saves significantly more compared to the cost of service.
Given the tremendous impact credit score has on a person's overall financial life, the question really is, how can your client afford not to contract with Best CreditRx, LLC? Credit affects your client's mortgage payments, car payments, credit card payments as well as auto&homeowners insurance, and the list goes on. If we improve your clients credit score 50-100 points, how much can you lower their monthly mortgage payment?
7) Not everyone you work with has great credit.
If you have been in the mortgage business for 10 years or more you are seeing more bad credit reports than you probably ever have. With the coming changes in the bankruptcy laws this trend will only increase. Currently at least half of people in the market for loans are candidates for sub-prime mortgage products.
8) At Best CreditRx, LLC, we can be trusted.
Every industry has people who do not operate in the utmost professional manner. Best CreditRx, LLC looks upon this as a tremendous opportunity to distinguish us. In addition, a lot of the negative stigma in the credit industry about credit repair companies is hyped up by none other than the credit bureaus themselves.
Think about it for a minute. A dispute by a consumer or a credit repair company is going to add overhead to the credit bureaus operations. If the dispute process is successful, then the consumer will not be applying for credit as often because they do not need it as much. This reduces the credit reports sold by the credit bureaus. Is it any wonder that the credit bureaus would create bad press about credit repair companies?
9) Three out of ten clients are loan worthy in the first 45 days!
There are many credit repair companies who only work on 1-3 negative trade lines at a time until they are removed. If the client has 20-40 negative trade lines, which is not uncommon, this could easily take 2-3 years. Given this, we understand why you might feel the process takes too long.
At Best CreditRx, LLC, we pride ourselves on speed and are not limited to a couple of trade lines per bureau per month. We give you the ability to receive automatic email notifications each time your client's file is updated. You can login to a portal and track each client you have sent to us, no matter how many there are. Proper follow-up is KEY to closing more loans.
10) It is important to care even if you cannot close the loan this month.
In certain situations we may be able to bring the score up in 30-45 days to get a loan done. If it can be done, we are uniquely qualified to get it done. However, the goal of our service is to increase the scores 50-100 points in 90-120 days. This may allow you to do a band-aid loan today and guarantee a second transaction in the future. In addition, the long-term loyalty this creates between you and your client will keep them coming back to you for life.
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More and more homeowners are facing foreclosure on their properties these days. Their credit scores have been hurt dramatically by overleveraging the household with too much debt and now they are facing tough times in just making the mortgage payment to their lender. We continue to hear from clients "my options are gone and I have no other choice but to lose my house to foreclosure".
This does not have to be the case. Yes, many will lose their homes, but in doing so you can get a fresh start on building strong credit again and get yourself in position within a few years to buy a new home again.
In the mean time, here are a few options to consider when thinking about foreclosure:
- Have you attempted to REFINANCE your home loan? A new loan with lower interest rate terms can bring that payment down to an amount you can handle with your existing income.
- Ask you lender about a REPAYMENT PLAN! If you have got behind on your mortgage, many lenders are willing (if you ask) to restructure your back payments to be repaid over a longer period of time. Sometimes as long as 6-12 months to repay. This can give the homeowner the opportunity to get their finances back in place and get on top of their payments.
- Ask your lender about FORBEARANCE! You have to ask your lender if they offer this option, but it can allow for missed payments to be added to the end of your loan and thus extend the time you finance your home purchase. During the interim you can get your credit scores back in shape and look for another lender to REFINANCE your property at lower interest rates.
- Request a MODIFICATION to your existing loan. There is a big government push for lenders to modify existing loans to keep you in your property. If you meet certain financial requirements you can get your existing loan modifed down to as low as a 2% interest rate. This can dramatically lower your payments.
- Consider a SHORT SALE. If your mortgage company agrees, you can avoid the negative hit on your credit score from a foreclosure by selling your home at value less than your mortgage loan amount. You then can get out of your home and into a rental until such time that your credit health is strong again and you are ready to make your next purchase.
- DEED FOR LEASE may be another option. In this option, you turn over your home to the lender but the lender allows you lease the home from them for a period of time and keep your family in the property you have been so accustomed to living in.
- DEED-in-LIEU of FORECLOSURE is an option that allows you to avoid the negative impact to your credit report while turning over your home to the lender and walking away from your obligations to the high mortgage. You don't get to keep your home, but you do get to save your credit. You may also be eligible for relocation assistance and even money to walk away and put yourself into a rental property without anything out of pocket.
It is important you research your options for all opportunities to save your credit and your financial resources that are available. Don't forget that experts are there to help throughout the process. Fannie Mae, Freddie Mac, and even HUD-approved housing counselors can help.
There are Millions of people today suffering from too much debt and not enough good credit. The Credit Crisis of 2007-2009 has put consumers in tough position to lower that debt because they were overleveraged to their homes value. Consumers relied on the value of their home to make up the money they were spending on credit cards while overleveraging their household budget to the max.
Many of those consumers now face tightening household budgets and no way to get back on top of their outstanding debts. Consumers are more and more frequently relying on their cash and debit cards to make purchases they need while avoiding purchases they just want. The consumer is gasping for breath and not sure where to turn for help.
There are thousands of non-profit consumer credit counselors and agencies that offer free support to consumers to get their financial house in order. Credit counselors can provide support in dealing with creditors and helping the consumer put together much needed financial budgets which allow them to live within their means. At the end of the day these credit counselors can help you manage your money better. They are an invaluable tool in helping to educate families on how to manage their budgets and live a more comfortable life without going further into debt.
The process begins with creating a personal budget that shows your income and your expenses so you have better knowledge of where your money is going day to day. Check out some of the free tools on this website to help you get your budget in order. Sign up here for those tools. They will show you how your income and expenses are easier to control when you know where your money is going. There are so many people out there that have lost control of their money and spend most of the time between paychecks wondering if they will have the money for all of their needs let alone their wants.
Credit counselors are there to help. They have helped hundreds if not thousands of people in similar circumstances to deal with their financial problems. They will reach out to your creditors to make an agreement with your creditors to create a viable and sustainable budget that helps you pay down your debt. In addition to reviewing all financial data and make recommendations on how best to tackle your current debt, credit counselors should work with you on your long term financial goals and planning for future expenditures like your children’s college education.
Consumer credit counseling services will help you make arrangements with creditors that will allow you to meet your budget every month. This will help stop the threatening phone calls and letters and give you the opportunity to make payments that work for your family. They can also help you avoid legal action by some creditors while you figure out how you can bring your debts under control.
Again, many credit counseling programs from local governments are FREE to you. However, you can also pay professional credit counseling service providers and credit repair companies to do similar negotiations on your behalf and help get your credit health back. Make sure you check and compare the costs of credit counseling services and credit repair companies as there is a big range in costs from one to the next.
Credit counseling works best when you are honest with yourself and with those you choose to help with your credit and debt problems. Credit counseling and credit repair companies can give you the best advice and help you reach your financial goals only when they see your entire credit picture. Be honest and proactive and listen to the experts. You can check out the US Justice Department list for state by state listing of consumer credit counseling service providers. http://www.justice.gov/ust/eo/bapcpa/ccde/cc_approved.htm
**The above posts are displayed automatically using information contained in publically accessibly RSS feeds generated by the respective blogs. CreditRepairCompanies.info does not review the information contained within these posts and does not endorse their accuracy or reliability.