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Educational Resources
 

"What Credit Repair Is Not
 
and 

What Credit File Correction Is"


"The growth of the credit industry has been explosive as is the huge amounts of money scammed from consumers through various 'credit repair' schemes. Still, an alarming number of credit-starved
Americans are utilizing the services of these so called 'credit doctors,' despite federal and state laws rendering them essentially useless, in hopes of renewing their ability to, once again, engage in credit-based spending.

Consumers who paid in advance for 'credit repair' services have nowhere to turn for help, when they get less than advertised or expected results, because many of the companies were bogus and no longer exist. 

A good trend is more consumers becoming aware of the importance of looking at their credit files, especially in light of the dramatic increase in identity thefts. Credit report reviews also educate on both the importance of credit ratings and protecting against identity theft. The reviews should be conducted annually for the average credit user, however, for active credit users - those paying on three or more credit cards and/or loans per month - their credit report should be reviewed semiannually.

Consumers, and even some credit / debt counselors, however, are still very uncertain about what credit repair is and is not.

Credit repair IS more accurately called "credit (file) correction. Credit file correction is how you get someone else's information or accounts off of your own file, or how a reported account may be disputed, if the information is incorrect, and it is the method consumers use to communicate errors and other misinfor- mation reported to the CRA's. Only mistakes and misinformation, i.e. someone else's account, a paid account reported as unpaid, etc. may be corrected on credit files. Negative items, including matters of public record such as a bankruptcy filing, a wage garnishment, tax liens, or other judgments, if they are true and correct, may remain on one's credit record until the statute of limitations expires, which is usually seven years, ten years if a bankruptcy. Other blemishes such as slow payments, delinquencies, missed payments, bounced checks, over limit fees and collection attempts reported therein, if they are true and correct, may also remain until the statute of limitations expires.

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Credit Repair Information from the ICFE

The Do-It-Yourself approach to Credit Repair is recommended to 
consumers by the Federal Trade Commission and the ICFE's Do-It-Yourself Credit File Correction Guide, now in its 13th printing, is used by credit and 
debt counselors, mortgage companies, credit unions, the military and consumers nationwide.  Available in English and Spanish, 
it is good in ALL fifty states, and it is from nonprofit  ICFE 

Request More Credit Repair Information Now

Need Help Understanding Your Credit Report?
 
Use the ICFE's Credit Report Review Service which includes a copy of the 
ICFE's Do-It-Yourself Credit File Correction Guide, complete with sample 
letters to smooth your communications flow the credit reporting agencies.  

Let a non-profit educational foundation review your credit report and help you

bullet Prevent Identity Theft
bullet Remove mistakes
bullet Add new accounts and personal data
bullet Remove outdated information

Request Complementary Information Now
 

 

"Credit Report Review Service Available Online"

The nonprofit Institute of Consumer Financial Education (ICFE) is now conducting a credit report review service online. Consumers whose individual credit ratings and FICO credit scores may need a boost, may now chat online or by speak telephone with the a certified credit report reviewer. The new counseling service is being made available by the nonprofit Institute of Consumer Financial Education (ICFE), a San Diego based group helping people of all ages improve their spending, increase their savings and use credit more wisely.

The ICFE’s Executive Director is Paul S. Richard, a registered financial consultant, (RFC) and a Certified Consumer Interviewer on the Fair Credit Reporting Act, by the Consumer Data Industries Association (CDIA). 

Thousands of people in America are victims of poor spending practices and habits. Many of them find they seemingly have little or no control over their actions and need help changing their hurtful spending and the certain negative outcomes. Stories about the financial havoc wreaked on someone’s once good credit rating are plentiful. Helping those consumers mend their spending and helping them to eventually recover their credit ratings or improve their FICO credit score is the end goal of the counseling sessions. Individuals who reside in the greater San Diego area make also make appointments for face-to-face counseling on spending and credit report reviews.

For more information about mending spending, or improving credit ratings through a new credit education course known as Credit When Credit Is Due, visit the ICFE's Web page at: http://www.icfe.info. The
site also includes helpful sections on increasing savings, using credit wisely, plus "How to set up and implement a spending-plan" (with a one page work sheet) for personal and/or family finances.

About the ICFE:

The Institute of Consumer Financial Education (ICFE), founded in 1982 by the late Loren Dunton - creator of the “certified financial planner” (CFP) designation - is dedicated to helping consumers of all ages to improve their spending, increase savings and use credit more wisely. The years between 1984 and 2000, the ICFE was also known as the National Center for Financial Education (NCFE).

The ICFE is a nonprofit consumer education organization that has helped millions of people through its education programs and resources. Over one million “Credit Card Warning Labels” and “Credit Card Condoms” are in circulation world wide.

The ICFE’s “Money Instruction Book,” a course in personal finance is positioned to become among the premier programs in the new bankruptcy and debtor education initiatives.

The ICFE’s “Do-It-Yourself Credit File Correction Guide,” now in its Twelfth Printing, is in use by thousands of consumer credit and debt counselors in addition to tens of thousands of consumers.

The ICFE Web site at: www.icfe.info and now also at www.icfe.biz helps consumers with mending spending, learn about the proper use of credit, budget and expense guidelines, how to set up and implement a spending-plan and also access financial education courses and videos and how to teach children about money. Other ICFE services include a free eNewsletter, and an on-line resource center of financial education learning tools, including videos, books and personal finance courses.

Consumers may learn more on the Internet about the "Do-It-Yourself Credit File Correction Guide" here, or fill out our request form, indicating your areas of interest.


To Order Financial Education Software, Books, Videos & DVDs:
Click Here for Order Options (Online, Fax, Phone, Mail)
California residents add 7.75% sales tax
Visa, MasterCard or American Express Accepted
call 619-239-1401 OR or send check or money order to:
Institute of Consumer Financial Education
P.O. Box 34070 - Dept WTSM
San Diego, CA 92163-4070
Printable Order Form
Note: The Institute of Consumer Financial Education does not make names available to third parties

(continued from column on the left)

What Credit Repair Is Not" 

and

"What Credit File Correction Is"

The do-it-yourself approach to correcting credit file mistakes is the best and most cost effective method.

Credit repair is NOT, however, obtaining a new "identity" or a "federal employer identification (FEI) number" to use in place of a Social Security on new credit applications. Credit repair is NOT sending mass mailings to credit reporting agencies disputing every negative item, including slow payments, missed payments, wage garnishments, tax liens, collection attempts and defaults, on one's credit record, hoping that so many letters are received at one time that some credit reporting agencies (CRAs) will miss the deadline to respond and the negatives will be removed by default. Credit repair is NOT deleting unpaid balances or debts negotiated downwards (a/k/a charge-offs) or paid liens. Credit repair is NOT a means for obtaining new or additional credit, based on false or misleading information. Most credit repair activities, as described in this paragraph are NOT legal in most states.

It is negative items like late pays, bounced checks and missed payments, that most consumers, who fall prey to 'credit repair doctors,' desperately want to get off their credit reports. Unless there is a mistake, these negative items may be disputed, however, if found to be correct, they will remain.

For more information about the credit file correction process and a listing of the consumer's credit rights, or to learn more about ICFE's popular best selling "Do-It-yourself Credit File Correction Guide", (available in English and Spanish) or to download credit file requests forms, please visit the ICFE's Web page at: ICFE

 
Need A Positive Boost On Your Credit Report?

"Credit When Credit Is Due" is a credit new education course. It is designed for those individuals who have had some negatives, such as a delinquent loan, a late payment or bankruptcy.
It is a twelve lesson course, home study or classroom version that guides you through the credit puzzle.  Upon completion, those who complete the final exam receive a certificate of completion and your name goes into a national data base.  You will also be entitled to discounts on loan applications, waiver of fees or a lowering of the points and with certain utilities, a waiver of deposits and much, much more.  Click here for more information about "Credit When Credit Is Due"

First-time credit
user/seeker?

Need help 
obtaining credit?

"Credit When Credit Is Due"
 is a credit new education course that really works.  Over a third of the 
graduates report an in- crease in their credit score and credit rating within a year of completing this unique 12 week course. 

"Credit When Credit Is Due" 
is designed for those individuals who have had some negatives, such as a delinquent loan, a late payment or bankruptcy.

The twelve lessons may be done as a  home study or you may join classroom version that guides you through the credit puzzle. 

Upon completion, those 
who complete the final 
exam receive a certificate 
of completion and your name goes along with about 19,000 other graduates,
 into a national data base.  

You will also be entitled to discounts on loan applications, waiver of fees or a lowering of the points and with certain utilities, a waiver of deposits and much, much more.  

Click here for more information about 
"Credit When Credit Is Due."