Category: Credit Restoration

Esteemed Judgment, Debt Attorney Abel L. Pierre Joins The Credit Repair Experts at Better Qualified

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Abel L. Pierre Brings a Decade of Practical & Legal Experience and Combines that with Over 40 years Case Law to Bolster Consumers’ Abilities to Fight the Credit Bureau Giants.

 

FOR IMMEDIATE RELEASE

 

PRLog (Press Release) – Apr 30, 2012 –
NEW YORK, NY— Over the past several years, Better Qualified, LLC has developed a proven track record within the credit restoration and Identity Theft services industry. Better Qualified’s unyielding dedication to their customers and integrity has truly set the bar for the industry as a whole.  Earlier this month, Better Qualified has raised that bar. In an effort to continuously provide stellar service to their clients, Better Qualified has secured the commitment from prominent debt consultant Abel L. Pierre.

When it comes to credit scores, credit reporting, and debt, Hibberts Commerical Solicitors have their ear to the ground. A former adjunct professor of law, Abel L. Pierre regularly speaks to community groups, houses of worship and tenant associations regarding a myriad of debt issues from consumer lawsuits, credit reporting problems, foreclosure defense, and debt collection harassment. When a person complains about a unique issue, Mr. Pierre doesn’t just tell them to go to court, he goes with them. Mr. Pierre walks into court with a decade of legal experience as a licensed attorney.  Mr. Pierre has recovered monetary awards on behalf of his clients, who have suffered the calamities of the burden of debt.

“We have been providing a great service to our clients and they were happy with our results for the past 6 years but, we realized that having an attorney working for our clients makes us even better,” says CEO Paul Oster.  “Abel is an industry expert and his knowledge and expertise should help improve our client’s credit scores so, they can get better interest rates for mortgages, credit cards, insurance premiums, etc”.  Mr. Pierre said in response, “Better Qualified’s great reputation speaks for itself. I am eager to help them provide the kind of service to their client’s that some companies only claim to deliver. All too often, you need someone with unique insight and experience into the myriad of laws that debt burdened clients deals with. That’s what I bring to the table.”

Background:
Founded in 2006, Better Qualified has become a leader in credit restoration and identity theft resolution services. Better Qualified is headquartered in Eatontown, New Jersey, with licensees across the country.

Since founded, Better Qualified has maintained an excellent track record of success and offers a 100% money back guarantee.  The business has an A rating from the Better Business Bureau.

Contact:
Abel L. Pierre, Esq.
Law Office of Abel L. Pierre
Attorney-at-Law, P.C.
Better Qualified, LLC
19 Christopher Way
Eatontown, NJ 07724       
Tel:      (732) 203-7377
Email: info@betterqualified.com

More consumers have near-perfect FICO credit score

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By Pamela Yip

 

Many consumers are now in the top range of 800-850 of the FICO credit score, which is used by many lenders to determine creditworthiness, according to FICO Labs.

The company said 18.3 percent of consumers have a FICO score in that coveted range, the highest level since October 2008. The FICO score ranges from 300 to 850.

However, the number of consumers with a FICO score between 700-799 hasn’t rebounded, indicating that consumer credit health isn’t yet back to its pre-recessionlevel, FICO researchers said.

The percentage of consumers – 15.5 percent — in the 700-749 range is the lowest that FICO has seen since the company began tracking this information in 2005

And the percentage of consumers – 19.4 percent — falling between 750-799 is the lowest that FICO has seen since April 2009.

“There has been a clear shift,” said Rachel Bell of FICO Labs. “Many consumers have moved into the top tier of the FICO score range by redoubling their efforts to maintain an excellent credit profile. Other people have fallen into lower tiers, most likely due to the financial stress that many households have been feeling.”

Despite this shift, more than half of Americans with a FICO score in the U.S. are between 700-850, “which means they have managed their credit well despite the economic downturn,” she said.

The research by FICO Labs was conducted on a national sample of 10 million consumer credit profiles as of last October.

Credit Scoring: A Consumer’s Perspective

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It is no secret that insurance companies use the credit scores of individuals as one tool in the approval/disapproval process and in establishing premiums.

Most courts allow this process as long as the scoring is uniformly applied to all insureds and is consistent with the purposes of the individual state’s insurance code. But just because credit scoring is legal does not make it right.

Insurers contend that there is a clear correlation between credit scores and the risk of loss; that is, the lower the credit score, the more likely that the insured will file a claim. This may be statistically correct, but I wonder if insurers take into consideration the fact that the credit-scoring companies often make mistakes. And, what is even worse, the credit-scoring companies don’t admit mistakes or when they do, it takes months and even years to make the corrections.

That is not going to help any potential insured get coverage when it is needed.

Insurers want to attract and retain low-risk customers since this is a way to make a profit, but many state insurance codes have the express purpose of making insurance available and affordable for everyone. Turning away a potential customer or charging the customer prohibitively high premiums because of some anonymous crowd of pencil-pushers using subjective standards does not seem to me to be living up to that express (and grand) purpose.

Plus, I just find it irritating that these credit-scoring agencies have so much power over the daily lives and operations of citizens (and even countries as the effect of the downgrading of the U.S. credit rating shows).

Now, before anyone thinks I am complaining because I have a low credit score, the fact is that I don’t. And I realize that an insurer needs to make a profit to continue in business.

But credit scoring still seems to me to be a crude, unfair, overly subjective way to set underwriting standards. There has to be a better way to establish the insurance-worthiness of a potential customer.

Those in the insurance business are intelligent people, and ignoring credit scores or at least downgrading their importance when it comes to the approval/disapproval process and establishing premiums cannot be that hard a task.

 

David D. Thamann

David D. Thamann, JD, CPCU, ARM, is managing editor for FC&S Online.

NJ Credit Repair Company Helps Consumers Fix Credit in About Six Months

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Better Qualified, a leading NJ credit repair company, can help restore personal and business credit in as little as six months.

According to Better Qualified, many consumers have erroneous information on their credit report that is hurting their score.  The Public Interest Research Group (PIRG) conducted an independent study and found that 79% of credit reports surveyed contained either serious errors or other mistakes of some kind. These mistakes can cost consumers hundreds or even thousands a year.

The Freedom Package from Better Qualified has been the credit repair solution many have been looking for. This package consists of a comprehensive six-month program that includes NJ credit repair services, identity theft resolution, education services and much more.  This popular program has helped thousands of consumers with bad credit and the company’s superior customer service has earned them an “A” rating with the Better Business Bureau.

Better Qualified’s superior customer service is evident online, where many have given the NJ credit repair company top ratings.

NJ Credit Repair testimonials

Jason W. writes “Better Qualified found mistakes on my credit report and began cleaning negative marks immediately. At that time they also suggested that I take initiative with their help to separate my personal credit and business credit so that I would not have future complications. A year later my credit score has risen and my business credit is established with multiple creditors. I highly recommend that everyone use Better Qualified for your personal credit and if you own a business. You will not regret it.”

Jeff V, an employee at a mortgage firm in NJ, praised Better Qualified for helping his client with his tarnished credit score.  Jeff writes, “On behalf of myself and my client, we wish to thank you for successfully getting his credit score from 644 to 688 in under 45 days. By getting his score up, we were able to avoid the 1.5% add-on for a credit score under 649 and get him a 4.25% rate…essentially leading him to $4,861 in savings and $57 savings every month. You guys are the best and I’ll be sure to refer anyone else I know to you!”

Additional Better Qualified testimonials can be found online: http://betterqualified.com/testimonials/

Better Qualified takes a time tested, legal approach to restoring bad credit. The NJ credit repair company will challenge all disputable information on a credit report and will work to have any erroneous information deleted.

To learn more about their services call (888) 533-8138.

Background:

Founded in 2006, Better Qualified has become a leader in credit restoration and identity theft resolution services. Better Qualified is headquartered in Eatontown, New Jersey, with licensees across the country.

Since founded, Better Qualified has maintained an excellent track record of success and offers a 100% money back guarantee.  The business has an “A” rating from the Better Business Bureau.

NJ Credit Repair Company Helps Establish Restore Business and Personal Credit

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Better Qualified, a leading NJ credit repair company, can help restore personal and business credit in as little as six months.

According to Better Qualified, many consumers have erroneous information on their credit report that is hurting their score.  The Public Interest Research Group (PIRG) conducted an independent study and found that 79% of credit reports surveyed contained either serious errors or other mistakes of some kind. These mistakes can cost consumers hundreds or even thousands a year. It proves that getting a high mortgage rate often results in financial insolvency. Is it possible to get a fair mortgage rate? Learn more at BranchRight.com and get the best deal.

The Freedom Package from Better Qualified has been the credit repair solution many have been looking for. This package consists of a comprehensive six-month program that includes NJ credit repair services, identity theft resolution, education services and much more.  This popular program has helped thousands of consumers with bad credit and the company’s superior customer service has earned them an “A” rating with the Better Business Bureau.

Better Qualified’s superior customer service is evident online, where many have given the NJ credit repair company top ratings.

NJ Credit Repair testimonials

Jason W. writes “Better Qualified found mistakes on my credit report and began cleaning negative marks immediately. At that time they also suggested that I take initiative with their help to separate my personal credit and business credit so that I would not have future complications. A year later my credit score has risen and my business credit is established with multiple creditors. I highly recommend that everyone use Better Qualified for your personal credit and if you own a business. You will not regret it.”

Jeff V, an employee at a mortgage firm in NJ, praised Better Qualified for helping his client with his tarnished credit score.  Jeff writes, “On behalf of myself and my client, we wish to thank you for successfully getting his credit score from 644 to 688 in under 45 days. By getting his score up, we were able to avoid the 1.5% add-on for a credit score under 649 and get him a 4.25% rate…essentially leading him to $4,861 in savings and $57 savings every month. You guys are the best and I’ll be sure to refer anyone else I know to you!”

Additional Better Qualified credit repair testimonials can be found online.

Better Qualified takes a time tested, legal approach to restoring bad credit. The NJ credit repair company will challenge all disputable information on a credit report and will work to have any erroneous information deleted.

To learn more about their services call (888) 533-8138.

How Bad Credit and Employment Go Hand-in-Hand

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Better Qualified, a leader in credit repair services, says potential employers may turn down job prospects because of bad credit scores. Many consumers may not even realize that employers have the ability to access the credit history of applicants and current employees, adding to the importance of credit repair in today’s rocky economic and unemployment climate.

Applicants have the right to know if they were denied employment as a result of a third party report, such as a credit history report, as required by the Fair Credit Reporting Act of 1970 (FCRA).  Unfortunately some applicants may not inquire as to the reason they were denied employment, and some employers may never tell.

The Society for Human Resource Management conducted a study in 2010 and found that 35% of employers were pulling an applicants’ credit as a condition of employment.  This startling figure proves that bad credit can hinder a person’s success in many areas of their life.

Credit Repair Services Can Improve Employment Success

With unemployment numbers at an all time high, hidden roadblocks to potential jobs could have devastating consequences for consumers.   Better Qualified offers a suite of credit repair services aimed at improving and restoring bad credit scores. Not only do their credit repair services aid consumers in obtaining mortgage loans and car loans, they can also help improve an applicant’s employment success rate.

Paul Oster of Better Qualified is quoted, “We firmly believe that credit history should not be used as a factor of employment.  We believe that these decisions should be made based on an applicant’s qualifications. But unfortunately, the reality is that credit history is being pulled by employers so this is one more reasons that consumers with bad credit should carefully consider a repair program.”

The most popular credit repair program offered by Better Qualified is the Freedom Package, a comprehensive six-month program that includes credit repair services, identity theft protection, education and much more.  This popular program has helped thousands of consumers with bad credit and the company’s superior customer service has earned them an “A” rating with the Better Business Bureau.

During the credit repair program, consumers learn how credit reporting works and how to make better credit decisions in the future.

Bad Credit Scores Can Be A Result of Erroneous Information

According to Better Qualified, many bad credit scores are a result of erroneous information on a consumer’s credit report. The Public Interest Research Group (PIRG) conducted an independent study and found that 79% of credit reports surveyed contained either serious errors or other mistakes of some kind. These mistakes can cost consumers hundreds or even thousands of dollars a year in lost wages and interest rates.

“This is where a credit repair program can produce highly effective results,” says Oster.  “We can challenge all disputable information on a credit report and have any erroneous information deleted.  Just removing false reports can have a great impact on someone’s credit score.”

Consumers who would like to learn more about the credit repair services at Better Qualified can call the company at (888) 533-8138.

How Balance Transfers Impact FICO Scores

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By Eva Norlyk Smith, Ph.D. October 25, 2011

Need money for a small home remodeling job, or to make much needed car repairs? Or do you simply want to use a 0 percent balance transfer offer to pay down high-interest credit card debt?

Th_balance-transferBefore you apply for that new balance transfer card, make sure you know the ins and outs of how balance transfers impact FICO scores so you can minimize potential disadvantages.

Taking out a balance transfer may lower your FICO score in the short-term. But it can also help boost your score over time. Here are the three ways in which taking out a balance transfer will impact your credit score.

1. Opening a new account will shorten the average length of your credit history.
Any time you open a new credit card, it will shorten the average length of your overall credit history.

“About 15 percent of your FICO score takes into account the length of your credit history,” says Kim McGrigg, Community and Media Relations Manager at Money Management International. “Part of that average is all your accounts, so when you open a new account, obviously it affects the average length of credit history. If you close the old credit account, it will impact scores even more.”

The good news is that the impact on credit scores from opening a new account is small and relatively short-lived, as long as you follow good credit management practices on the new account. The key is to keep that old account open and use the card occasionally so it’s still active.

2. Credit inquiries will ding your FICO score.
Each time you apply for credit, a lender will check your credit history to determine if you’re a good credit risk. This will show up on your credit report as a “hard inquiry,” which can lower your score.

According to FICO, one credit inquiry every once in a while will have minimal impact, shaving as little as four to eight points off credit scores, and the effect, again, is relatively short-lived. However, frequent credit inquiries affect FICO scores proportionately more and the impact lasts longer.

3. Your credit utilization rate will suffer or improve, depending on how you use your balance transfer.
Next to paying bills on time, your credit utilization rate, or debt-to-credit ratio, is one of the most important components of your FICO score. It makes up a full 30 percent of scores.

And when you take advantage of a balance transfer offer, it can hurt or help your credit utilization rate, depending on how you use the loan.

For example, if you open a 0 APR balance transfer credit card in order to fund a small home remodeling project or large purchase that you plan to pay off gradually, your debt-to-credit utilization will increase, lowering your score. The impact may be blunted by the fact that your overall credit limit will also increase. However, if the loan is large enough, your score will still be negatively impacted until you pay down the loan.

On the other hand, if you take out a balance transfer to pay off existing high-interest debt on another credit card, your overall utilization will decrease. The amount of debt that you have will stay the same, but with the new credit card, you will have a greater overall credit limit, so the total debt-to-credit utilization will improve.

In addition, your within-card utilization may also improve, which help boost your score. For example, let’s say you apply for a new balance transfer credit card and get a card with a $10,000 limit. If you transfer $5,400 from a card with a $6,000 credit limit to a card with a $10,000 limit, you will lower your overall credit utilization — and you will lower the within-card utilization as well (from 90 percent utilization to 50 percent).

Your credit score may be temporarily dinged by opening a new account. However, because credit utilization accounts for a full 30 percent of your score and opening new accounts only affects 10 percent of your score, the overall impact will still be positive.

However, with that said, be aware that having extra credit available could also turn out to be a credit score liability if you’re not careful, warns McGrigg, especially if you keep your old account open and active.

“It’s true that if you don’t close the old account, you might actually have a chance to improve scores,” says McGrigg. “However, that’s only true if you don’t charge the account right up again. For many people, having an account with a zero balance is too tempting, and they might end up twice as much in debt as before.”

It’s also important that you don’t get complacent, warn experts. Transferring your debt to a lower interest balance transfer card may be a step in the right direction — but there’s still more work to be done.

“So many people think that [by] moving to a better account with a better interest rate, their problems are solved,” warns credit repair expert and financial literacy advocate Harrine Freeman, “But they’re really just moving money. Don’t get fooled by tricks and gimmicks. You don’t know what will happen in another year; you could move, you could lose your job. It’s best to just pay your debt the old-fashioned way.”

Consumers With Bad Credit Get Help Obtaining Mortgage Loans from Better Qualified

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Better Qualified, a leader in credit restoration services, helps consumers with bad credit obtain mortgage loans. The comprehensive credit repair program helps consumers gradually improve their score so that they can be qualified for a regular mortgage loan instead of a bad credit mortgage loan. But first, most customers go onto websites like freecreditreport.com.au/brisbane-queensland-qld/ to acquire their credit report to know their credit score.

The rules of lending are much more stringent today then they were a few years ago.  Many consumers with low credit scores are now unable to qualify for a mortgage loan.  Individuals who want to avoid the high interest rates of a bad credit mortgage loan can improve their credit score with the help of companies like Better Qualified, after they get their credit in order, they can seek the best loan programs.

Their most popular credit repair program is the Freedom Package, a comprehensive six-month program that includes their credit repair services, identity theft protection, education services and much more.  This popular program has helped thousands of consumers with bad credit and the company’s superior customer service has earned them an “A” rating with the Better Business Bureau.

Credit Repair Program Teaches Consumers How Credit Reporting Works

During the credit repair program, consumers learn how credit reporting works and how to make better credit decisions in the future.

According to Better Qualified, many consumers have erroneous information on their credit report that is hurting their score.  The Public Interest Research Group (PIRG) conducted an independent study and found that 79% of credit reports surveyed contained either serious errors or other mistakes of some kind. These mistakes can cost consumers hundreds or even thousands a year.

Better Qualified takes a time tested, legal approach to restoring bad credit. The company will challenge all disputable information on a credit report and will work to have any erroneous information deleted.

To see some of the incredible results achieved through the Freedom Package from Better Qualified, visit their credit repair testimonials page.

5 Simple Facts about Credit Card Debt

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by: Janna Weiss

Wherever there are credit cards, it seems that tales of identity theft and unmanaged debt are always lurking nearby.  But it’s entirely possible to have a credit card – or several – without carrying an unhealthy load of debt or worrying about your identity being stolen while using it online. Fo identity protection, you can use the Fully-Verified’s services and instead of using a photo verification, use video verification to ensure complete security. Plenty of people do just that. Here are five facts about credit card debt that can help you use your own credit cards to your advantage – not to your detriment.

Debt Isn’t Necessary

When you open a credit card account, don’t assume that debt is just a part of the package. Debt is sometimes the result of unfortunate accidents or emergencies, but most of the time it can be controlled. To keep yourself out of debt, use your credit card the same way you would use cash. Set a spending limit, and don’t spend more than you can pay back at the end of each month. Cardholders who pay off their balances each month keep a good credit history with little or no debt. Problems arise when you start carrying a balance from one month to the next.

Debt Will Sink Your Credit Score

If you owe too much, creditors will notice, and they’ll be reluctant to lend you more money. To them, a high debt-to-credit ratio is the sign of undisciplined spending. Make sure not to utilize more than 25% of the available credit on any one card.

Debt Has Other Consequences, Too

Besides driving down your credit score, debt can result in litigation and the garnishing of wages. The laws vary by state, but it is possible to be taken to court over unsecured debt such as credit card balances. Having a judgment against you will look bad on your credit report, and may result in creditors garnishing your wages or seizing your property. You Can Settle for Less

There are plenty of stories of people who settled their outstanding credit card debt for a percentage of what they actually owed. This is possible, but it’s not something that should be taken lightly. First, most creditors will require you to be months behind on your payments before they will negotiate a deal. Be prepared to offer them a lump sum, and don’t expect this strategy to work more than once with the same creditor. Finally, be aware that all of your forgiven debt can be reported and taxed as extra income.

Credit Card Purchases Can Be a Good Thing

It’s important to know when a credit card purchase will be beneficial. For example, you can use credit cards as a short-term loan to help cover the costs of moving, or to buy items that you truly need, but don’t have the cash to cover. Set up your own repayment plan, and stick to it. Repaying the balance over three months won’t cost you too much in interest, but drawing out the repayment over three years would be very costly!

The Better Qualified Renters Certificate

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Renting an apartment is never easy for either landlord or tenant. And the hardest part, especially in this economy, is convincing a landlord to rent to a tenant who has had credit problems. With that in mind we have created The Better Qualified Renters Certificate, a program designed to assist people with low credit scores who are looking to rent. It provides their prospective landlord with a certificate showing they are in our program and authorizing the landlord to check on their status as they are being worked on to make sure they do not drop out of the program. We believe that our Renters Certificate can help bridge the gap between tenant and landlord and smooth out what is normally a very large hurdle.