One of the greatest mysteries in life:
What is a Credit Score?
Three major Bureaus (and a handful of secondary ones) keep separate files of your reported Credit transactions for the past 7 to 10 years, or even longer, depending on the item. Most Items have 7 year life span.
Companies who subscribe to a particular Bureau pay to have an item report on a file, and a lender who looks at your file pays a fee to do so.
Though you may be married, from a Credit File standpoint, each person is an individual. Each Spouse has a Separate Credit File & Score, loans can be obtained in either Spouses Name, or both together. If one spouse has a lower Score, it drops the combined score in a Joint application.
Every item type (Mortgage, Installment, Revolving, Collection, Public Record) is assigned a point value that drops as it ages. An item 6 days old impacts your score much more than the same item type from 6 years ago. Positive, well paid items raise your score, while negative items drop your score in a hurry. We once saw a new $72 collection drop a score 80 points in a month.
While most derogatory items are essentially static, collections tend to be re-sold every few years, and thus re-reported, (the old unpaid collection reports as well as the new one) dropping your score even more.
Although the exact formula is top-secret, it works something like this: 850 (maximum score) minus points for the bad items in your file, then points are added back in for the positive things in your file. You end up with a score somewhere between 350 and 850, the higher the better. Someone with a score of 720 and above is considered to have less than a 5% chance of default on a new loan. The lower the Score, the default rate increases, as the risk of loss goes up .. so do the interest rate and payment.
Though people mention their Credit Score, there are actually many Scores. There are three Bureaus, each of them offer specific scoring formulas for the Mortgage, Auto, Insurance, and Credit Card Industries. Then, each Bureau offers a "personal score", which is usually higher than any of the Commercially used Scores, and available from any Bureau without lowering your score with an inquiry.
720 to 850 Excellent, Tier One 1, or A
650 to 719 Good, Tier Two 2, or B
620 to 649 Fair, Tier Three 3, or C
550 to 619 Poor, Tier Four 4, or D
350 to 549 Very Poor, Tier Five 5 or E
Our goal is to move your credit rating to a higher tier, where lenders offer you better rates on every loan you get! You save money every month with lower interest rates!
No Interest Charges or Carrying Fees!
That's CCFG's Total Fee! Limited Time Offer!
In 2008 this was a deal at $795,
and we still have no per item charges!
This is our Bailout Special, a far better deal than
Buy One, Get One Free!
Get your own Stimulus Package started today!
Enter Your Special Pricing in the Blanks Provided on the
Application Form.
Let's Do It, Get me an Application!
CCFG has cleaned up the remains of $7.7 million Bankruptcies, we have put a pair of Real Estate investors who suffered $4.7 million Bankruptcies combined with about 20 Foreclosures per investor back on track. We had a Client with 40 separate Tax Liens .. all gone now. How about the Client who had a $3 million IRS Lien? We cleared up his credit reports, he re-financed some Real Estate, and settled with the IRS for $1.5 Million, quite happily. We have also seen thousands of the little Collections that pop up on everyone's reports now and then. Care to see some examples of CCFG's work? Check out the Sample Replies page.
Quite often, items in a bankruptcy tend to "freeze" upon filing. This means that after Discharge, lots of items files on still show balances due, hurting your Score, and Debt to Income Ratio. We have "finished up" many bankruptcies over the years.
We have, of course seen all types of the typical Medical Collections, and the usual slow payments that everyone gets from time to time.
Our goal is to make these derogatory items better, or make them go away, so your score goes up .. to where it benefits you, not hurts you.
CCFG has pricing and plans to suit your situation. We offer Substantial Military Discounts for our service, and Referral & Affiliate Programs that can help you pay for our services, and maybe earn you some extra cash. No other Firm offers all this!
We do not share any of your personal information with any outside source. CCFG Credit Repair will not sell your name, address, phone number, or email address to anyone for any reason. And we won't call you or send you an email every week to entice you to join up.
