We will be glad to help you with any of the following questions, at no cost to you. Any questions or consultations are completely free. Question: What if I don’t have any credit knowledge? Answer: When you call us for your free consultation, we will educate you as much as possible about all topics of your credit. Question: Do you require a client to pay for the entire process in advance? Answer: No. We require a processing deposit, and then allow the client to pay off the balance according to their ability to pay. Question: Do we only focus on getting rid of negative accounts? Answer: No. Part of the process of improving a score, is to show the client how to build or increase positive tradelines. Question: Do you use form letters to dispute my accounts? Answer: We do not. We customize every dispute to fit your needs. Question: Should I ever close a credit card or charge card? Answer: No, NEVER. If you do, your score will immediately go down, and within 2-3 years, there will be little or no contribution from that card. Question: What if the credit card has a very high interest rate? Answer: If you don’t have any balance, there will be no interest to pay. You can always call your credit card company to ask for lower interest rates, and higher limits on the card. You can also ask for a lower annual fee. Only a supervisor can make these changes. Question: Should I ever pay a collection or charge-off? Answer: Only if you can get them to delete the negative account from all three bureaus in exchange for the payment. There is a very specific way to do this. Call us. There is no charge for the information. Question: When I apply for a mortgage with more than one company, do I get multiple hits on my credit score? Answer: No. When you apply for any big-ticket item (mortgage, boat, RV, land, or car, you have 45 days to make multiple inquiries. On the 46th day, it is a second inquiry. Each of the categories gets 45 days, but if you apply for a mortgage, and then apply for a car loan, that is 2 separate inquiries. Question: If I apply for two credit cards, do I have 45 days? Answer: No. Each credit card is a separate inquiry. You do not get multiple inquiries, and each credit card inquiry will cost you points off your score. Question: What is the difference between a soft inquiry and a hard inquiry? Answer: A hard inquiry is when you apply for new credit. A soft inquiry is when you are just monitoring your credit, and not applying for new credit. It also occurs when an existing creditor is monitoring your report, and does not cost you any points. Question: If I have a bankruptcy on my report, will it also show on each account included in the BK. Answer: Yes. It will state, “Included in Bankruptcy” on each account. Question: How long do negative accounts stay on my report? Answer: Most stay on for seven years from the “Date of Last Activity” or “DLA” Question: What is a “Date of Last Activity”? Answer: The “Date of Last Activity” is the last time you made a payment, the last date that you promised to make a payment, or the last time that you verbally acknowledged that you owe the debt. It can also be the date that you purchased an item such as furniture, but never made a payment. Please call us for a detailed explanation of the “DLA”. There is no charge for the consultation. Question: Are there any negative items that can’t be removed from a credit reports? Answer: It is possible to remove all types of negative items from a report, but that does not mean that it will always happen. It depends on the types of disputes that are sent to the credit bureaus. We dispute every negative issue on your report, unless you ask us not to. Included in our fees are any negotiations that need to be done with a creditor or collection agency. Question: Can deleted items reappear on my report? Answer: Yes, they can. If they do reappear, we will dispute them again, at no extra cost to you. It rarely happens, but we will always process them again. Question: How many points will I lose if I get a new 30 day late? Answer: You can lose between 30-75 points, depending on various factors in your report. A new mortgage late can cost you 60-100 points. Question: How long does it take for the repair process? Answer: We work on your credit for 6 months, but most of the work is complete within 3-4 months. Question: How do I find out my progress? Answer: We do a monthly update of your credit report. For more info on this process, please call us at 213-923-9999 or 866-720-FICO.