The House of Representatives has a bill that is scheduled to be voted on next week. If you’re a mortgage broker, loan officer or even consumer – I strongly suggest you let your voice be heard. Now, I’m none of the above, but we work with literally thousands of Loan Officers that may have to find new careers soon if this passes. Here’s my take on this matter. [ Read the rest of this entry ]

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 ]

How many of you have been taught the best way to protect your credit is to always pay your bills on time?

We all have. It’s common sense.

I still remember the little chat my Dad had with me about credit when I was about 18 and got my first Montgomery Wards card. He said,

“Marc, credit can be a great thing; but make sure you always pay your bills on time or you're going to regret it."

What if I told you just “paying your bills on-time” was hurting your credit score? It’s true. Let me explain.

[ Read the rest of this entry ]

A quick note to our clients in the San Diego Area.

First of all, we hope you and your families are all safe and well.

If you are a client of My Credit Group in San Diego and are being displaced by the fires, please contact us. We will help in any way we can. If you need a hotel or anything else, let us know and we will do our best to help you out.

Finally, if you are forced to evacuate please remember to grab all your personal identification. License, SS Card, Birth Certificates and also any documents that may contain personal information. Losing these items can cause a tremendous amount of headache in the future and yes, some people do use these opportunities to loot houses looking for things such as these items.

Be safe!

We’ve received several emails regarding these two posts and I think it’s something important to elaborate on.

http://www.mycreditgroup.com/blog/credit-repair-scams-part2/

http://www.mycreditgroup.com/blog/credit-repair-scams-2/

The question we are getting asked is this.

[ Read the rest of this entry ]

I promise, some day I’m going to write something positive about the Credit repair industry. It just isn’t going to be today!

I was going to add this in the last post, but I wanted to save some ammunition for a second post.  Being in the industry, I know exactly where this pathetic little plan comes from. It’s a greedy attempt to milk clients for as long as possible.

Luckily for you, it’s very easy to spot. Here is how it works.

[ Read the rest of this entry ]

For the last 5 or 6 years I’ve been telling our members how ugly of an industry credit repair and debt settlement is. I’ve also said that sooner or later the FTC would shake out the bad apples making it a safe place for consumers again.

It looks like my prediction was wrong. It’s gotten worse…much worse!

[ Read the rest of this entry ]

It’s has been a long time in the making but we’re finally ready to launch our series of credit repair / Home Loan seminars.

My Credit Group Inc. and some of the nations leading loan officers will be launching a series of free credit repair and home loan seminars across California, Arizona and several Midwest States.

[ Read the rest of this entry ]