It looks like Bank of America is at it again.

I wrote a post about Universal Default a little while ago, stating how sleazy of a tactic it was by lenders.

Well, BofA found a way to stoop even a little lower. Where universal default typically had to have something trigger it like a late pay, now they just raise rates on whomever they “feel may be a risk”

You can read the full article here

I wrote a post about piggy backing a few months back. It turns out I was right when I said Fair Isaac would find a way to stop it; and they did. When fair Isaac announced their new scoring model did not factor in authorized users, I assumed that would be the end of the industry. I should have known, while the honest sellers of authorized accounts closed down, a few people are still out there pushing it for hundreds and thousands of dollars like here and here.

They have reasons why they think still a viable tool. For example: it will take a while to implement, loan officers have their own scoring models, it’s only fair Isaac etc etc.

I promise you this…
[ Read the rest of this entry ]

For most people and probably all of our clients, beating the credit game sure feels like your swimming up stream sometimes doesn’t it?For those of you who haven’t heard of something called Universal default, I suggest you learn it real fast. In my opinion it’s one of the sleaziest tactics credit card companies have in their arsenal and unfortunately, it’s also one of the most expensive traps you can fall into.

[ Read the rest of this entry ]

Credit card debt is at an all time high. We know this because our client base has grown 600% from this time last year.

That’s great for us, but that also means it's bad for the economy. We shouldn’t be growing this fast, it’s scary and it means you need help. Before you can help yourselves get out of debt, you have to stop the bleeding.

Below is the 5 fastest, easiest things you can do to begin your road to recovery.

[ Read the rest of this entry ]

Since we’ve launched our Debt Settlement Program which we’re proud to say has been a huge success, we’ve seen an entire shift in the demographic of our client base.

Credit Repair is a far different animal then debt settlement. Credit Repair clients tend to be people who are younger and find themselves trying to fix the mistakes they’ve made in their college days.

Where as Debt Settlement Clients on average, are established families who for some unforeseen reason have run into temporary, financial hardships. Whether it be from a mortgage rate increase, temporary job loss or the economy in general.

No matter what the reason, we find ourselves with a lot of clients who need a realistic approach to managing their debt and overall financial health.

[ Read the rest of this entry ]

In short yes, Amex does hurt credit score. Although typically considered A card of  “prestige” and the no limit can definitely come in handy, it is in fact hurting your credit score.

Here’s why

[ Read the rest of this entry ]