GREETINGS AND WELCOME CREDIT SEMINAR Logo extracted from http://www.united-credit.org. MS PowerPoint Presentation courtesy of Ronda Evans of AJE Consulting & Associates, LLC
AGENDA • Part I • Customer Presentation • Short Break • Part II • Business Presentation
We are: • VR-Tech Marketing Group (VR-Tech), spreading the good news of the Gospel of True Credit Restoration and United Credit Education Services (UCES), a national credit restoration company and Credit Union Services Company (CUSO) based in Farmington Hills, MI. • Both VR-Tech and UCES are proud members of the Better Business Bureau (BBB) and have been reporting with them for years. • We collaborate on a proven system for empowering and educating our clients about their rights as a consumer based on the law. Data extracted from www.vrtmg.com, www.united-credit.org, http://easternmichigan.bbb.org/WWWRoot/Report.aspx?site=80&bbb=0332&firm=49003544 and http://easternmichigan.bbb.org/WWWRoot/Report.aspx?site=80&bbb=0332&firm=54001521.
Through our products and services, our combined organizations help people: • Restore their credit worthiness • Become educated about their credit worthiness and • Maintain their credit worthiness
We do this by… • Helping to give consumers negatively affected by poor credit the opportunity to achieve their financial goals and dreams. • Providing a service offering the industry's most comprehensive program to those who have been turned down for a mortgage, car loan, credit card or any type of credit due to credit problems. • Combining expertise and state of the art technology for thousands of customers to improve their credit standing and lower their debt.
A Normal Credit Report! NEVER GETTING AHEAD Garnishments Judgments Charge-Offs Settlements Inquires Collections Late Payments Repossessions Tax Liens Bankruptcy Foreclosures
Assessment of the Facts: • Housing sales ARE down • Foreclosures ARE up • Mortgages ARE down • Sub-prime market IS over • Housing supply IS greater than the demand • Bankruptcies ARE up • Buyer’s market, yet people ARE NOT buying because of their credit • Lending guidelines have changed and ARE changing • We ARE in a credit crisis • Overall the US IS in financial crisis News of the Facts extracted from varied online and print news resources.
Some Truths: • Credit requirements have made it difficult for consumers to qualify for financing • Any score that is less than a 740 must be improved • It is no longer an option for consumers to maintain bad credit scores • It is no longer feasible for consumers to ignore credit restoration • There is an answer to help you to survive and add value to your life. News of the Facts extracted from varied online and print news resources.
With Logs and mottos extracted from www.vrtmg.com and www.united-credit.org.
Myths About Credit The definition of a Myth… • A person or thing having only an imaginary or unverifiable existence. • An unfounded or false notion. • A popular belief or tradition that has grown up around something or someone; especially, one embodying the ideals and institutions of a society or segment of society.
The MYTH is designed to Insight FEAR, ANGER or BOTH… • It’s affect causes you to feel BLUE, even though it is NOT True. • The TRUTH is there is hope and a way that could potentially save you hundreds of dollars one day.
Myth 1 • Credit Agencies are empowered with some kind of governmental authority. • Credit agencies have no legal authority at all, they are simply private companies who are in the business of selling credit information.
Myth 2 • The credit agencies are required by law to keep derogatory items on your credit report for 7 to 10 years. • There is no law that the credit agencies report anything on you at all. Just the opposite is true! Credit Agencies are required by law to automatically remove all derogatory items older than 7 years or in the case of a bankruptcy, 10 years.
Myth 3 • It is impossible to get a bankruptcy off. • Bankruptcies come off just like any other derogatory that is incorrectly reported, obsolete, erroneous, misleading, incomplete, or that cannot be verified. Remember, the nature of the item has nothing to do with its removal under the Fair Credit Reporting Act.
Myth 4 • The information on your credit report cannot be changed. • The opposite is true under the Fair Credit Reporting Act; both the federal and various state laws REQUIRE that items be removed if they are not 100% accurate or cannot be verified in a timely manner.
Myth 5 • It is illegal or immoral to have the information on your credit report altered or removed. • Not only is it not illegal or immoral, but it is what the Fair Credit Reporting Act is all about. It was enacted by congress for the very purpose of protecting consumers from the intrusion of the credit agencies into our lives.
Myth 6 • Paying a past due debt removes it from your credit report. • Just because you pay an old debt does not change or erase the fact that at one time you were not paying on it as you agreed. Can this record be changed? Absolutely!
Myth 7 • Inquiries are not derogatory and will not affect your credit standing. • Anything that erodes your financial credibility is damaging to your credit standing. In the case of inquiries, one or two is not too bad, but any more than that and they begin to tell a story of their own. Any prospective credit grantor will look at your credit report and think that you are desperate for credit.
Myth 8 • If you get a derogatory item removed, it will just come back. • Not if it is removed legally. When it is removed with cause under the Fair Credit reporting Act it cannot legally be placed back on your credit report. The same law that required its removal prohibits it from being placed back on.
Myth 9 • The past equals the future. • This is the biggest myth of all. The concept that once bad, always bad, or at least for 7 years is totally false. Anybody can run into hard times or an emergency situation now and then, but that doesn't automatically mean that they are a poor credit risk for a magical 7 years. The simple truth is, no credit report can predict the future.
Myth 10 • I cannot restore my credit on my own. • Yes, you can! You can try to do it yourself (just like you can represent yourself as an attorney in a court of law). But you can also allow experienced professionals to educate you and assist you in restoring your credit profile.
Pay $1,490 Less Pay $1,490 More *Using national average rates, a 30-year fixed rate mortgage, and a $300,000 loan balance. *Source: http://www.mymoneyblog.com/archives/2007/10/effect-of-credit-score-on-mortgage-rates-and-monthly-payments.html
WHERE WOULD YOU WANT TO BE? SCORE PAYMENT 1 YEAR 30 YEARS CUMULATIVE VARIANCE – 30 YEARS 741 $1,827 $21,924 $657,720 711 $1,851 $22,212 $666,360 $8,640 HERE? 685 $1,958 $23,496 $704,880 $47,160 640 $2,193 $26,316 $789,480 $131,760 580 $3,091 $37,092 $1,112,760 $455,040 520 $3,317 $39,804 $1,194,120 $536,400 HERE?
Who Can Restore Credit? • Experts, such as: • Banks or Credit Unions/Credit Union Services Organizations (CUSOs) • Law Offices/Lawyers • Non-profit Organizations, offering credit restoration services. • Non-experts or lay persons • You yourself Data extracted from http://www.ftc.gov/os/statutes/croa/croa.shtm
Credit Restoration • Process involves the Customer, UCES, the Credit Reporting Agencies (CRAs) and the Fair Credit Reporting Act of 1971. • Process goes through five (5) dispute cycles. • Complete Credit Restoration with UCES is one (1) year. • The customer can access their progress report online 24/7, 365 days per year. The customer will also receive a progress report with their dispute packet from cycle two through five. • Ongoing Credit Education to help you master the “credit game”. • Customer Service, Monday – Friday, 9 to 5. • Money back guarantee, less set-up fee and $25 for any removals.
COST: 499.00, per person No Tax, No Other Hidden Fees
ONLINE CUSTOMER ACCESS TO MONITOR PROGRESS In your web browser, goto www.united-credit.org; select the Login link; enter Login as 999999999 & Password as jdoe This is the first page you will see upon login Check us out at the Better Business Bureau, there are two resolved complaints logged over the past 3 yrs. Important template letter as a customer to prevent harassment related to charge-offs. United Credit Education Services Credit Restoration Process Monitoring information extracted from www.united-credit.org.
MONITOR OF THE PROGRESS REPORT Mortgage Lenders love to be able to have this kind of insight. Each radio button selection returns the associated Credit Agency data. *
OUR CREDIT PRODUCT STATISTICS TO DATE The SAME thing can happen for you TOO!
Ultra Score All UltraScore images extracted from www.ultrascore.net
? What % is your Payment History? In your web browser, goto www.ultrascore.net; enter User Name as 999999999 & Password as jdoe
? What % is your Length of Credit History?
? What % is your Types of Credit History?
? What % is your New Credit (Inquiries)?
? What % is your Amount Owed?