HOW TO "ERASE BAD CREDIT"
COPYRIGHT 1989 DR. WILLIAM J. SAVRAN, D.D.S. All rights
reserved. The purchaser of this report may reprint and sell it
as information providing that the copyright seal is "NOT
REMOVED" from this report or SALES LETTER on the last page of
this report.
You may NOT change a single word in the report or on the
brochure. You may change the form of this information when you
sell it. This report is sold as information ONLY. The author is
not engaged in rendering any LEGAL or ACCOUNTING advice. If such
advice is needed please consult the appropriate professional.
PUBLISHED BY: WILLLAM SAVRAN & ASSOCIATES, INC.,
87-25 CHIVE CHASE STREET, JAMAICA ESTATES, NEW YORK 11432
INTRODUCTION
It is the purpose of this report to teach you how to obtain a
copy of your Consumer credit report and to remove such things as
judgments, late payments, liens, or anything that is untrue or
unfair from such reports, thereby improving your consumer credit
rating. You also have the express permission of the author to
REPRINT and sell this information to others, thereby helping
others to improve their credit ratings as well! By marketing
this report you will be helping others achieve their goals of
improving their credit rating at terrific savings over companies
that charge up to $400 or more for this simple service that
anyone armed with the proper information can easily accomplish
themselves!
WHAT IS CREDIT?
The average American has a better understanding of General
Motors than he or she does about their credit rating. Credit is
used every day by millions of Americans, yet most do not have
the faintest idea how our credit system really works. Most people
only know that they can pull out a plastic credit card and buy
something that they don't have the cash to pay for.
The dictionary defines credit as financial trustworthiness. Time
given for payment for goods SOLD ON TRUST!
Actually, the credit system we now use is as old as the business
world itself. The trend of today that we see advertised
everywhere is: "BUY NOW AND PAY LATER." It is this philosophy
that has caused millions of Americans to live from payday to
payday, or from payment to payment!
Credit has been extended whenever goods are sold, or where
services have been rendered and immediate payment of cash has
NOT been made. The principle of credit is the same, whether the
corner grocery store owner lets a patron "put it on the tab"
until payday, or an executive takes a $5,000 cash advance from
his American Express(TM) GOLD CARD!
What do you think would happen to the grocery store customer if
when payday came around he DID NOT pay his bill as promised?
Well, the grocer might give him more time, but chances are the
grocer would no longer extend credit to such a customer. He
would no longer be allowed to purchase his groceries "ON CREDIT!"
The same situation is true for the executive if he fails to pay
his obligation for the $5,000 cash advance. His credit rating
would be damaged, and that would make it very difficult for him
to obtain a new credit card from American Express(TM) if he did
not first clear up the debt that he owed.
With these examples in mind, if the grocer was stuck with a
large unpaid bill, he would go around the neighborhood and tell
all the other merchants that Mr. X "burned" him, and is NOT good
credit risk. From that point on, none of the other merchants in
town will give Mr. X any credit!
American Express(TM) would be faced with the very same problem.
How would they inform other corporations that Mr. Executive is a
poor credit risk? And how would American Express(TM) be able to
obtain information on other clients who are applying for them
for the credit for the first time?
The following pages will explain in more detail how credit is
established and how you can investigate and improve your
PERSONAL CREDIT REPORT. Be sure to read each sentence CAREFULLY
as your credit is your FUTURE BUYlNG POWER. More important, your
credit is your name!
Before you go on reading this report ask yourself one good
question. How much is it worth to you to have GOOD CREDIT? The
answer is simple. Good credit in our society is virtually
''PRICELESS !" If your credit is not good, you will be severely
handicapped in almost any financial endeavor you wish to
accomplish. Because of these facts, the very small price which
you paid for this financial report and credit guide is going to
prove to be one of the best investments you've ever made!
Throughout this material we will show you a simple and legal way
to develop a AAA credit reputation no matter what your past
credit shows this very moment. Regardless of your present credit
rating, whether it reflects no credit, slow credit, or simply
bad credit, or EVEN if you filed bankruptcy... YOU CAN START
AGAIN! You can be one of the more fortunate individuals in the
United States who holds GOOD CREDIT! You need it! You deserve
it! And NOW you can have it!
HOW CREDIT REPORTING AGENCIES WORK
As credit increased throughout the country, there arose a great
need to issue reports concerning those who are NOT a good credit
risk as well as those who are CREDIT WORTHY! Because of this
great need, credit reporting agencies were formed several years
ago. These agencies, known as credit bureaus, receive
information about consumers from banks, loan companies, credit
card companies, department stores, as well as from other credit
and lending sources. Credit bureaus earn their profits by giving
a computer printout showing a financial and credit profile of
any individual (such as you or I). These reports are requested
by a lender or an credit issuing firm from which you have
requested credit.
Lenders will base their acceptance or rejection of your
application for credit based on the information about you in
your personal credit report. If your credit report shows that
you have been reliable in the past, then in most cases credit
will be granted. What if your report shows that you have NOT
been reliable in the past? Perhaps you have been like others in
this country who have encountered circumstances beyond your
control which made it IMPOSSIBLE for you to meet your credit
obligations. What if your credit report shows that you defaulted
on a particular account or were constantly LATE making payments?
This of course can be most embarrassing, and usually leads to
CREDIT DENIAL!
There are over 2,500 credit reporting agencies in the United
States. These agencies sell information about you to BANKS,
DEPARTMENT STORES, CREDIT CARD COMPANIES, LOAN COMPANIES, etc.
These credit bureaus keep on file information concerning you and
your credit, but they do not make any final judgements as to
your credit worthiness. The decision is up to the lender which
you have dealt with to decide and report to the credit bureau.
When you receive a copy of your credit profile, you may find
some of the following information in your report. Your
occupation, place of employment, income status, residence
record, marital history, court and arrest records, and most
important, details on payments of your past and present bills
and loans.
You have the ABSOLUTE RIGHT to know what is in your consumer
credit report! Because it is YOUR personal credit file, you
should want to know what information the credit bureau is giving
out concerning your good name and your credit!
Most people have thought, and still think, that if they have an
unfavorable credit report or history that there is NO WAY to
change it, and if they want to obtain NEW CREDIT that it's
impossible! DON'T BELIEVE IT! You can change your credit report
for the better. You can change and correct any and all OUTDATED,
or INCORRECT INFORMATION that YOU choose! Remember, it's up to
you! No one will do it for you! The first step in correcting
information on your report is to obtain a copy of your personal
credit profile.
HOW TO OBTAIN A COPY OF YOUR PERSONAL CREDIT REPORT
You have already learned how this credit information has been
gathered, rated and placed on file for credit reporting. You can
obtain a copy of this report just like a regular consumer would
- after all, it's your report.
There are many different credit reporting agencies in business
today, and there is one in every community. First, this
discussion will be limited for simplification, to one of the
largest NATIONAL companies, TRW, INC. Second, the discussion
will include limited information concerning contacting the LOCAL
credit reporting agency in YOUR area.
To evaluate your personal credit profile, you must obtain a copy
of it. You may obtain a copy of your personal credit report by
writing to: TRW, INC., Post Office Box 271, Parsippany, New
Jersey 07054. Include the following inforrnation with your
request:
1. Full Name
2. If married, include spouse's name
3. Your Social Security Number
4. Your present address/previous addresses within the past
5 years
5. Your date of birth
6. A check for $10 plus your SIGNATURE on the letter
You may wish to call your LOCAL credit bureau as well. Look in
your local yellow pages under Credit Reporting Agencies. Call up
to find out mailing addresses and fees to obtain your report.
By the way, if you have been refused credit within the past 30
days and one of the reasons for the rejection was an
"unfavorable" credit report, you have certain rights under the
law.
You first have the right to know which credit reporting agency
was used to obtain the report. You also have the right to
CONTACT the agency and find out exactly what criteria on your
report has caused the rejection You also have the right to
obtain this information FREE OF CHARGE if you have been denied
credit WITHlN THE PAST 30 DAYS!
Because with almost every important financial move that you
make a credit report is involved, it is very important that you
be concerned with what your credit report says regarding YOU AND
YOUR CREDIT!
HOW TO CORRECT ERRORS IN YOUR PERSONAL REPORT
After you have received your personal reports, determine the
status of your credit file. You should attempt to remove ALL
unfavorable information using the methods outlined herein.
Not all of your credit history is contained in either of the two
firm's files. Some information may be duplicated, or not
included in the other file. Your name and Social Security number
are used for identification. Current and previous addresses,
spouse's name, and date of birth are used for further
identification. The credit information includes the merchants
names, the subscriber number, credit account number, date
opened, date closed, highest credit limit, highest amount of
credit used, and repayment history. The last item is encoded
into numbers, with a series of ones indicating perfect repayment.
After you have received your personal reports, determine the
status of your credit file. You should attempt to remove ALL
unfavorable information using the methods outlined herein.
The following descriptions are used to indicate payment history:
- Current Account - account open or closed in GOOD STANDING
- Inquiry - your credit information was requested by this firm
or store
- Closed Account - credit account closed
- Paid Account - closed account or zero balance
- Credit Account Reinstated - previously closed account NOW
AVAILABLE FOR USE
- Judgment - lawsuit against you... and NOT PAID
- Charge-Off - credit amount can not be collected
- Repossession - charged item returned to merchant
- Foreclosure - collateral sold to collect defaulted mortgage
- Collection Account - credit account assigned to collection
agency
When you receive your report examine it VERY CAREFULLY. Make
certain that all information is current and accurate. If you
find any error (for example, a loan that you have PAID OFF is
still listed as outstanding), you can take immediate action to
correct the error. You must write out EXACTLY what the mistake
is, and explain the way that the information SHOULD be listed.
For example, "Loan XYZ is NOT outstanding. It was paid in full
on 10/31/8l." Send photocopies along with all pertinent
information to substantiate your claim.
If you receive a computer printout of your credit file, there
should be a space (Usually on the right-hand side of the report)
in which you may PROTEST any item in your report that you feel
is INCORRECT. After you have done this, make a photocopy,
sending one copy back to the bureau by "CERTIFIED MAIL." When
the credit bureau receives your report and the information in
question, they are required to investigate and ADVISE YOU of the
results of their investigation. There is NO CHARGE for this
investigation! YOU HAVE CREDIT RIGHTS! Due to the Fair Credit
Reporting Act passed in 1971!
Anytime that you are denied credit, you now have the right to
know why you were turned down! If, for instance, you are turned
down for a charge account at a store, you will receive a
statement from the store stating that you were denied credit and
their reason for the denial. If their reason has anything to do
with the fact that the store used a credit reporting agency,
they must provide you with the name and address of the agency
that supplied them with the report. If this should happen to
you, you should make an appointment within 30 days to visit the
credit agency, so that you can review your report and find out
what information in it is causing you to be DENIED CREDIT. I
suggest that you always VISIT the credit bureau. Men should
always wear a tie and jacket, and women should dress
conservatively as well. It is very important to look
professional and businesslike. It is also good to bring a friend
along so that they can be witness whatever is said. Do not let
the representative of the credit bureau confuse, or upset you in
any way. If there is ANYTHING that you do not understand, ask to
have it explained again.
If there is any information in that report that is not true, or
if you want to dispute any information on it, don't be afraid to
do so. If the agency is wrong on any item on your credit report
or file, DEMAND a correction. By law, the company MUST
investigate... many bureaus will even try to make the correction
"on the spot?!"
If for some reason you cannot PROVE that the item is in error or
if you are having a disagreement with a certain creditor, you
have the RIGHT to tell your side of the story in 100 words or
less! This will be ADDED to your report. Often, creditors who
see that you have taken the time and effort to dispute an item
in your credit file will NOT include it in credit worthiness.
This can be VERY HELPFUL to you.
Many bureau representatives will even help you word your
statement. Be sure to use this rule to your ADVANTAGE!
After making any corrections on your report, you have the RIGHT
to DEMAND that the credit bureau send corrected copies of your
report to ALL CREDITORS who have received the incorrect reports
for the LAST 6 MONTHS !
PLEASE NOTE: The credit bureaus WILL NOT do this automatically!
- ONLY WHEN ASKED! - So make sure it gets done PRONTO!
If, when looking over your report, you notice that it is missing
a few POSITIVE items that you recall, you may want to invest
some money to upgrade your report. Some credit bureaus will call
creditors you name as FAVORABLE to you. If the information that
you give turns out to be TRUE, the item will be ADDED to your
report. There are small fees of $2 to $5 per item, but this
small fee could be well worth it to you.
HOW TO ERASE "BAD CREDIT" FROM YOUR CREDIT REPORT
Past credit experience which shows delinquent payments,
lawsuits, collection and bankruptcy is most definitely
UNFAVORABLE on your credit report. Even with several other open
accounts in good standing, the unfavorable information can be a
cause of credit DENIAL when applying for new credit.
Incorrect and unverifiable information can be removed legally
with the assistance of the credit reporting agency on whose
files the unfavorable information appears. To do this you must
contact the respective agency and tell them that you wish to
dispute the particular information that you feel is injurious to
your credit history. Legally, they must write for confirmation
of the information to the source that is reporting it. If NO
CONFIRMATION is received by the agency within 14 days... the
information in question MUST BE DELETED from your file! - and an
updated credit report will be mailed to you for verification!
Utilizing this method will eliminate most of the unfavorable
information on your credit file, particularly that which is
more than one year old, or if the disputed amount is under $500.
Any remaining information after the first attempt can usually be
removed by subsequent attempts, at one month intervals.
Remember, keep on trying over and over again - PERSISTENCE DOES
PAY OFF!
If there is any unfavorable information remaining on your credit
file, you should add a statement to your file that DISPUTES this
information. Remember, the credit agencies MUST add such a
statement, PROVIDING YOU REQUEST IT! If possible, you may
resolve the problem with the creditor in question. If so, have
the creditor contact the credit agency FOR YOU.
==============================================================
HOW TO MARKET THIS REPORT
This material has been provided to you in a form that makes
copying it very easy and inexpensive For under $1 you can go to
your local COPY-SHOP and print copies AS ORDERS COME IN! You
need not invest in inventory UNTIL you make CASH SALES!
Very simply, here is what to do. Place an ad in your local paper
under the category of MONEY & CREDIT or under any other
appropriate category. The ad should state:
REPAIR YOUR CREDIT RATING!... Plus fill your bank account with
CASH! For FREE DETAILS, write or call...
Either place your address or phone number as you desire! Check
out the supermarket tabloids as well as the popular Opportunity
Publications. REMEMBER, always offer FREE DETAILS! DO NOT ask
for a self-addressed stamped envelope, or ANYTHING also because
this will DRASTICALLY lower your response rate.
You may also wish to place display ads. Use the same wording as
in your classifieds. Most publications will typeset your display
ad FREE of charge!
When you receive inquires, simply send them the enclosed
BROCHURE/SALES LETTER with your name and address on top! Just
bring the enclosed camera-ready brochure to your local printer
and have him add your name at the top. You may wish to include a
short sales letter thanking your prospect for his/her inquiry
and perhaps include a return envelope, or a separate order
coupon for an even greater response!
I charge $29 for the report and reprint rights! Imagine the
profit potential! Why not get started RIGHT NOW! People are
literally dying to get their hands on this information. You will
be providing a very NECESSARY and much sought after service by
marketing this IN-DEMAND report!
======================= Sales Circular ======================
Place your Name & Address Here!
HOW ANYONE CAN ERASE BAD CREDIT AND IMPROVE THEIR CREDIT RATING!
GUARANTEED!
What do those companies do when they claim that for a fee of
$400 to over $1,000 that they can improve your credit rating by
PERMANENTLY REMOVING such things as BANKRUPTCIES, TAX LIENS,
LATE PAYMENTS, or even JUDGMENTS from your Consumer Credit
Report? (i.e. TRW)
Basically, all they are doing is applying some NEW, "LITTLE
KNOWN' Federal Consumer Protection Laws! ANYONE knowing these
few simple "secrets" can easily accomplish the EXACT SAME THING
thernselves! ABSOLUTELY FREE!
NOW MY REPORT IS ALL YOU NEED!
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Purchase my report. Follow the simple, step-by-step
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PROVEN ADS!
Along with a certificate of reprint rights, included with your
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To receive a copy of my report along with reprint rights,
marketing instructions, sample ads, and PROVEN PROMOTIONAL
MATERIALS, simply PRINT your name and address on a sheet of
paper, along with the words ERASE BAD CREDIT. Mail that to me at
the address above, along with ONLY $29 in cash, check, or
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MAIL! Don't delay! Do it RIGHT NOW!
Copyright 1988 by William J. Savran