Sponsored by:Sponsored by:

UCAN2 Opportunity, Inc.

Credit Repair – FICO Seminar

PARADIGM

A set of assumptions, concepts, values, and practices that constitutes a way of viewing reality for the community that shares them. A belief System.

“Knowledge is Power”

CREDIT CONTROLS OUR LIVES

• Limits or expands our f inancial Limits or expands our f inancial stabil i tystabil i ty

• Increases or decreases our quality of Increases or decreases our quality of l i fel ife

• Opens or closes doors to employment Opens or closes doors to employment opportunit ies and promotionsopportunit ies and promotions

• Affects our income by way of interest Affects our income by way of interest ratesrates

• Limits or expands our purchasing Limits or expands our purchasing powerpower

CREDIT FACTS• Credit Cards-Debt is a 2-Trillion Dollar Industry• Americans are the biggest spenders • Approx 83% of Divorces are due to Financial

Problems• Bankruptcy Relief is now more difficult to file due

to the new “Means Test” (as of October 2005)• January 2006 - Min. Monthly Payments for credit

cards increased from 2% to 4% causing already strapped consumers financial hardship

• All of your Creditors can increase your interest rates if you are ever late on any of your other accounts

FICOFair Isaac Company

Provides risk assessment software to the 3 Credit Reporting Agencies (CRAs) Experian (formerly TRW), Trans Union & Equifax

Vantage Score

New Scoring Model developed by the Big 3To compete against FICO - Range from 501 -900

FICO Score Basics• Scores are damaged by the most recently reported Scores are damaged by the most recently reported derogatory informationderogatory information

• Derogatory information reported prior to 2 years Derogatory information reported prior to 2 years does not highly impact scoredoes not highly impact score

• FICO has 88 Negative Rating Factors and only 6 FICO has 88 Negative Rating Factors and only 6 Positive Rating FactorsPositive Rating Factors

• FICO measures whether a person is moving FICO measures whether a person is moving towards or away from Bankruptcytowards or away from Bankruptcy

• There are only 5 basic scoring factors that you can There are only 5 basic scoring factors that you can control control (we’ll return to this page in a moment)(we’ll return to this page in a moment)

Consumer’s Right To Accuracy

The Fair Credit Reporting Act:In 1971, Congress passed the Fair Credit Reporting Act (FCRA). The FCRA was passed with the intention to regulate the credit-reporting agencies (CRA). The Act spelled out all the rules and regulations that the credit-reporting agencies have to follow before they put anything on someone’s credit report. For the past three decades, those agencies have ignored most of the law. Information about “you” has to be accurate and verif ied before it is entered on your credit reports. If “reasonable procedures” have not been correctly fol lowed, then any verif ied inaccuracies must be removed from your credit reports as defined in the FCRA. The three credit reporting agencies are Experian (formerly TRW), Equifax and Trans Union. There are other reporting agencies also that purchase their information from the Big-3, so if you can repair your credit with the Big-3, you basically repair i t with everyone.

What is the definition of “inaccurate, What is the definition of “inaccurate, erroneous, or obsolete information?”erroneous, or obsolete information?”

• Inaccurate informationInaccurate information is any information that cannot be verified by the CRA and/or the creditor.

• Erroneous informationErroneous information is any information that has been entered onto a consumer’s credit reports due to human error (data entry error), Social Security Number mismatch error, mixed file error, similar names error, “reasonable procedures” were not followed when the information was entered on the credit report, or any such related error. This happens more often than you think!

• Obsolete informationObsolete information is any information that is beyond the industry standard of seven years; or ten years for bankruptcy.

FICO Score Basics• Scores are damaged by the most recently reported Scores are damaged by the most recently reported derogatory informationderogatory information

• Derogatory information reported prior to 2 years Derogatory information reported prior to 2 years does not highly impact scoredoes not highly impact score

• FICO has 88 Negative Rating Factors and only 6 FICO has 88 Negative Rating Factors and only 6 Positive Rating FactorsPositive Rating Factors

• FICO measures whether a person is moving FICO measures whether a person is moving towards or away from Bankruptcytowards or away from Bankruptcy

• There are only 5 basic scoring factors that you can There are only 5 basic scoring factors that you can controlcontrol

FICOscoring factors you can controlscoring factors you can control

• 35% Payment History

• 35% Payment History

• 30% Amounts Owed

FICOscoring factors you can controlscoring factors you can control

• 35% Payment History

• 30% Amounts Owed

• 15% Length of Credit History

FICOscoring factors you can controlscoring factors you can control

• 35% Payment History

• 30% Amounts Owed

• 15% Length of Credit History

• 10% New Credit

FICOscoring factors you can controlscoring factors you can control

• 35% Payment History

• 30% Amounts Owed

• 15% Length of Credit History

• 10% New Credit

• 10% Types and Numbers of Credit Cards to Use!

FICOscoring factors you can controlscoring factors you can control

FICO Advantages

• Consumers obtain loans faster• Credit decisions are fairer• Older credit problems count for less - Great for Bankruptcies• More available credit• Credit rates are lower over all• With an understanding of the system, a

person can improve his or her credit rating from D to A credit

How do “Inquiries” count?

• HARD INQUIRIESOnly “permissible use” credit inquiries count against you, including credit card offers you’ve applied for.

• SOFT INQUIRIES Credit reports you pull yourself or from a consumer

site do not count. Marketing inquiries also fall in this category.

• For Mortgage or auto loans, FICO counts multiple inquiries during a 30-day period as just one inquiry.

In the old Scoring Model, multiple inquiries were counted as one inquiry within a 14-day period.

Privacy Marketing & Junk Mail

• For possible 2 to 10 points increase on your FICO, go to:

www.optoutprescreen.com

• Stop telemarketer phone calls:

www.donotcall.gov

888-382-1222

Length of time the following items stay on Credit Reports?

• Bankruptcies 7, 11 and 13 10 Years• Collections 7 Years• Public Record 10 Years

• Inquiries 2 Years

• Chex Systems (for banks) 5 Years• Telecheck (for merchants) 5 Years

• SCAN (for merchants) 5 Years

• Regulated by FTC through Fair Credit Reporting Act

Collections, Judgments & Liens

• Do not be too quick to pay an old collection account; depending if you’re getting a loan or just repairing credit.

• Judgments will reflect as “Satisfied” when paid.

• Collections will reflect as “Paid” when paid.

• Liens will reflect as “Released” when paid.

WEB SITES to Check out

• www.myfico.com• www.annualcreditreports.com• www.transunion.com• www.equifax.com• www.experian.com

•www.UCan2credit.com

How can you make a difference in

your community and set yourself apart?

Help your Credit–Challenged Clients.

• Offer a one-year $575 Flat Fee Credit Repair program from UCan2 (Payments Available)

• See results in the first 90 days• Unlimited Derogs, Disputes & Deletions• Monitor Account Status 24/7 via the web

• Turn your B & C papers to A paper and double-dip

• Enhance your professional services • Build a pipeline of pending deals • Make a difference in people’s lives

Additional resources available to you from UCan2

• Credit Score Analysis & C.C.E. Program• Debt Management• Debt Negotiation & Debt Settlement • Tax Relief Program • Student Loans & Consolidation Programs• Financial Literacy Courses• Become a Retail Center for Financial Solution

Programs & Build a Team of Credit Professionals• Unlimited Income Potential

BE PART OF THE SOLUTION - Join our Team of professionals and offer financial solution services Nationwide!

UCan2 Opportunity Inc. IBO Offer Financial Solutions Services

$299.00 Plus S&H

• Independently Owned Turn-Key Business• Training Provided by UCan2 corporate• Full Marketing Support• Self-replicating Web Site to Market your business

Attract more leads - Create a NICHE market!

Cost of Becoming an IBO (Rep.) Plus Qualifying

IBO Only$299.00 + $10.00 + $5.95 = $314.95

IBO/REP Fee + UCan2 VISA Card + S&H of the Bus-Kit

IBO, Plus Qualifying$314.95 + $57.00 + $57.00 = $428.95

Full IBO Charge + 2 Financial Literacy Courses (Including S&H)

IBO & Credit Repair (Qualif ies)

$575.00 + $10.00 + $5.95 = $590.95 Credit Repair + UCan2 VISA Card + S&H of the Bus-Kit

THANK YOU !

To Book a Credit Repair & FICO Enhancement Seminar for your Group or Organization, please

contact:

Jennifer @ 800-399-9775 ext: 5rsvp@ucan2events.com

FOR UPCOMING EVENTS CHECK OUT:WWW.UCAN2EVENTS.COM