what is credit repair & how does it work?
DESCRIPTION
http://www.Cram4You.com Credit repair is a process of attempting to clean up the credit history. This is a short presentation to help you understand what Credit Repair is, and how it works.TRANSCRIPT
![Page 1: What is Credit Repair & How Does it Work?](https://reader037.vdocuments.site/reader037/viewer/2022110307/556c4b0dd8b42a23608b4f28/html5/thumbnails/1.jpg)
Understanding Credit ReportingUnderstanding Credit Reporting
Basic Concepts
What is a Credit Report?
What information does it contain?
Who assembles the information?
Where do they get information?
How do you repair/improve it?
![Page 2: What is Credit Repair & How Does it Work?](https://reader037.vdocuments.site/reader037/viewer/2022110307/556c4b0dd8b42a23608b4f28/html5/thumbnails/2.jpg)
What is a Credit Report?What is a Credit Report?
A credit report is a collection of information about you, mostly financial information, and works as financial transaction history that is used by potential lenders, employers and others to determine your credit worthiness.
![Page 3: What is Credit Repair & How Does it Work?](https://reader037.vdocuments.site/reader037/viewer/2022110307/556c4b0dd8b42a23608b4f28/html5/thumbnails/3.jpg)
What is a Credit Report?What is a Credit Report?
Types of Information
Your Full Legal Name, and known aliases: Robert, Bob, Bobby
Current and previous addresses
Current and previous employers
Inquiries – History of who has looked at your report
Financial/Credit History
Public records
![Page 4: What is Credit Repair & How Does it Work?](https://reader037.vdocuments.site/reader037/viewer/2022110307/556c4b0dd8b42a23608b4f28/html5/thumbnails/4.jpg)
What is a Credit Report?What is a Credit Report?
Sources of Credit Information
Credit Reporting Agencies
![Page 5: What is Credit Repair & How Does it Work?](https://reader037.vdocuments.site/reader037/viewer/2022110307/556c4b0dd8b42a23608b4f28/html5/thumbnails/5.jpg)
How is Information Gathered?How is Information Gathered?
Information Chain
Credit Report
![Page 6: What is Credit Repair & How Does it Work?](https://reader037.vdocuments.site/reader037/viewer/2022110307/556c4b0dd8b42a23608b4f28/html5/thumbnails/6.jpg)
How is Information Gathered?How is Information Gathered?
Flow of Information: Information Chain
You Lender Credit Bureaus Credit Report
![Page 7: What is Credit Repair & How Does it Work?](https://reader037.vdocuments.site/reader037/viewer/2022110307/556c4b0dd8b42a23608b4f28/html5/thumbnails/7.jpg)
What is Credit Repair?What is Credit Repair?
An Over Simplified Analogy
![Page 8: What is Credit Repair & How Does it Work?](https://reader037.vdocuments.site/reader037/viewer/2022110307/556c4b0dd8b42a23608b4f28/html5/thumbnails/8.jpg)
What is a Credit Report?What is a Credit Report?
Laws Control Fair Use of Information
You Lender Credit Bureaus Credit Report
MaximumTime: 7 to 10 Years
![Page 9: What is Credit Repair & How Does it Work?](https://reader037.vdocuments.site/reader037/viewer/2022110307/556c4b0dd8b42a23608b4f28/html5/thumbnails/9.jpg)
It’s all a fantasy, so lets pretendIt’s all a fantasy, so lets pretend
Robert Smith Jones, Jr.
aka“Bobby Jones, Jr.“
Example: You and your father have the same name
You Your Father
Robert Smith Jones, Sr.
aka“Bobby Jones, Sr.“
![Page 10: What is Credit Repair & How Does it Work?](https://reader037.vdocuments.site/reader037/viewer/2022110307/556c4b0dd8b42a23608b4f28/html5/thumbnails/10.jpg)
How a Credit File is CreatedHow a Credit File is Created
Parents House
You“Bobby, Jr.“
Rental Apartment
Example: You Leave Home & Begin Renting
![Page 11: What is Credit Repair & How Does it Work?](https://reader037.vdocuments.site/reader037/viewer/2022110307/556c4b0dd8b42a23608b4f28/html5/thumbnails/11.jpg)
Credit Reports Help Determine RiskCredit Reports Help Determine Risk
Landlord Credit Report
Evaluation
YouBobby, Jr.
![Page 12: What is Credit Repair & How Does it Work?](https://reader037.vdocuments.site/reader037/viewer/2022110307/556c4b0dd8b42a23608b4f28/html5/thumbnails/12.jpg)
How Mistakes HappenHow Mistakes Happen
Landlord
Your Application
Bobby Jones, Jr.1234 Parents StreetAnytown, NV 89000
Employment:Burger King
![Page 13: What is Credit Repair & How Does it Work?](https://reader037.vdocuments.site/reader037/viewer/2022110307/556c4b0dd8b42a23608b4f28/html5/thumbnails/13.jpg)
Bobby Jr.Bobby Sr.
How Mistakes HappenHow Mistakes Happen
Landlord
“Bobby Jones, Jr.“
Your Application
Landlord
![Page 14: What is Credit Repair & How Does it Work?](https://reader037.vdocuments.site/reader037/viewer/2022110307/556c4b0dd8b42a23608b4f28/html5/thumbnails/14.jpg)
How a Credit File is CreatedHow a Credit File is Created
Result: You‘re Approved & Begin Renting
Happy Happy Joy Joy!
Bobby Jr.Bobby Sr.
![Page 15: What is Credit Repair & How Does it Work?](https://reader037.vdocuments.site/reader037/viewer/2022110307/556c4b0dd8b42a23608b4f28/html5/thumbnails/15.jpg)
How Mistakes HappenHow Mistakes Happen
Writes Letter
Not True!Please Verify!
Robert Smith Jones, Sr.
aka“Bobby Jones, Sr.“
Bobby Jr.Bobby Sr.
Corrections
![Page 16: What is Credit Repair & How Does it Work?](https://reader037.vdocuments.site/reader037/viewer/2022110307/556c4b0dd8b42a23608b4f28/html5/thumbnails/16.jpg)
How is Information Gathered?How is Information Gathered?
Information Chain
Credit Report
![Page 17: What is Credit Repair & How Does it Work?](https://reader037.vdocuments.site/reader037/viewer/2022110307/556c4b0dd8b42a23608b4f28/html5/thumbnails/17.jpg)
Top 3 Credit Reporting AgenciesTop 3 Credit Reporting Agencies
![Page 18: What is Credit Repair & How Does it Work?](https://reader037.vdocuments.site/reader037/viewer/2022110307/556c4b0dd8b42a23608b4f28/html5/thumbnails/18.jpg)
You Can Repair Your Credit!You Can Repair Your Credit!
Thank you for watching!