I want to preface this article by saying that any of bad advice I’ve seen given by mortgage brokers was purely unintentional.  Brokers know what they need to see in order to get you a loan approval, but that doesn't mean they know the best way of getting it done.

The most common scenario are consumers with marginal credit, typically with credit scores floating around a 640. The culprits are usually older, unpaid collection(s) and it’s likely the broker may advise paying them off in order to obtain the loan.

On the surface it sounds like sound advice, but paying off old debts may have an opposite, negative effect to your credit scores. Here’s why…

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I came across a Blog today by a Michigan Collection Attorney Gary Nitzkin. An article that caught my eye was one about a jury awarding $100K to a consumer against Arrow financial (whom I hate)

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I wrote a post here a couple of months ago about the ethical issues surrounding the new emerging industry of renting a credit score, or “piggy backing”.

At the time of writing that post it was legal and still is today however, the ethical side of the debate is still in question. Because I can make an arguement on both sides, I've decided not to throw my opinion into the arena.

However, my point of this post is to clarify the mislabeling of this practice. It’s being referred to as a credit repair service. Just to set the record straight, it is not credit repair.

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If I’m being honest, I’m getting fed up with the double standard, catch 22 strangle hold the FTC has put the Credit Repair Industry in.

Yes I agree, in many cases credit repair should be easy and most consumers should be able to do it themselves.

Unfortunately what is and what should be are two different things. Let me give you a prime example.

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Question: How many of you think your ability to explain photosynthesis had a direct impact on the interest rate you pay for your mortgage?

How about your visual arts class in high school? How much did your ability to dance or play the clarinet lower your credit card payments?

Here is my point…

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It’s been a long couple weeks here at the MCG Camp so I spent the better part of the Memorial Day Weekend watching T.V., ordering in and seeing if it’s actually possible to double your body weight in one weekend (It is possible).

Monday I was doing some channel surfing and came across a show called “Runs House” which is a reality show based on the current life of Run DMC front man Joseph Simmons AKA: Rev Run

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We have helped thousands and thousands of clients with their credit and debt problems. Although every person has problems unique to their own circumstances, there is a common thread.

A large majority of clients we see with credit problems stem from simple little mistakes like forgetting to mail a credit card payment on time.

Most of us have done it at one time or another and most of us have seen how a simple little over site can turn to a negative mark on your credit, then late fees, bounced checks yada yada yada.

I’m going to give you the two easiest, most effective things you can do to help you avoid the simple mistakes that can snowball into bigger problems.

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First of all, I don’t just pick random authors or “financial experts” for the fun of it. My job is to help people with their financial and credit problems. When I see bad advice by so called financial experts that I know will hurt you, it is my duty to warn you.

I just read an article over at the American Chronicle that is absolutely wrong. If you listen to any of this, you’re going to find your credit scores hitting new all time lows.

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