Frequently Asked Questions & Answers

                                                                                                                            

Are you on the internet?

 

Yes, we’re located at www.selecte-loan.com You can order our credit repair services, apply for a loan & search for your dream house from the privacy of your own home.

 

How long will it take for me to see results, and is there anything else I need to do while I wait?

 

It only takes 35-45 days to receive responses from the credit reporting agencies! It’s very important that you continue paying your bills in a timely manner, that you do not contact the credit reporting agencies, and that you don’t apply for any type of credit during the dispute process.

 

How will I get my credit reports, and is there any cost for the credit reports?

 

We order your credit reports for you, at no cost to you. Within 7-10 days, you’ll begin receiving credit reports from CSC/Equifax, TransUnion, and Experian. It is critical that you deliver all of your credit reports (and additional correspondence) to us… immediately upon receipt.

 

Will faxed credit reports be accepted? Can I bring or send credit reports from the internet or other vendors?

 

No, we cannot accept faxed credit reports. We need original documents from the credit reporting agencies, because most of the credit reports from the internet are inaccurate or incomplete. We prefer to obtain your credit reports directly from the credit reporting agencies or our approved vendor(s).

 

How do I know your service is working?

 

Investigation results will arrive in the mail at your home (from each credit reporting agency) within 30-45 days. The investigation results will show each of your disputed accounts as one of the following: “deleted”, “updated”, “remains”, “new information below”, or “not found”.

 

How can you do this legally and according to the law?

 

The Fair Credit Reporting Act (FCRA) is a federal law designed to protect you from being “slandered” by creditors, collectors, and credit reporting agencies. According to the law, a disputed credit account must be accurate, complete, and verifiable for it to remain on your credit report.  This allows you to legally challenge information on the basis of “completeness and accuracy”. Many creditors simply don’t respond within the first 30 days (allowed by law), causing the deletion of your disputed account.

 

Can a negative credit account be deleted?

 

Yes. All inaccurate, incomplete or unverifiable accounts must be removed or updated. We have removed repossessions, tax liens, bankruptcies, judgments, foreclosures, late payments, charge offs, collection accounts, and many other negative credit items. However, we cannot & do not guarantee the deletion of any negative account(s) in whole or in part.

 

Are you a law firm?

 

No. However, our knowledge of the Fair Credit Reporting Act, credit reports, and the overall dispute process… allow us to service your credit repair request much more quickly than a general practice law firm. And, most law firms charge $100, $125 or more per hour… which is outrageous!

 

Where can I obtain a copy of the Fair Credit Reporting Act?

 

The Fair Credit Reporting Act is available at the Federal Trade Commission’s website located at http://www.ftc.gov/os/statutes/fcrajump.htm, or we can provide you with a copy upon your request.

 

Doesn’t paying off negative accounts repair my credit?

 

Of course, paying off the negative balances owed to creditors is always a step closer toward better credit.  Unfortunately, in the short term, the credit reporting system utilized by each of the major credit reporting agencies do not recognize your efforts. When you pay an old debt, the negative credit listing (judgment, tax lien, charge off, collection account, etc.) doesn’t disappear.  In fact, it may reactivate the 7-year reporting “clock” of that negative listing, thereby keeping it on your credit report for an additional seven (7) years, which may temporarily lower your credit scores.

 

Does it matter which state I live in?

 

No, it doesn’t matter which state you live in. The Fair Credit Reporting Act is a federal law, regulates the credit reporting agencies, and applies to the residents of all fifty (50) states and/or anyone with a Social Security number.

 

What does Section 611 of the Fair Credit Reporting Act state?

 

Section 611 procedure in case of disputed accuracy(5) Treatment of inaccurate or unverifiable information.(A) In general, after any reinvestigation under paragraph(1) of any information disputed by a customer, if an item of the information is found to be inaccurate or incomplete or cannot be verified, the consumer reporting agency shall promptly delete that item of information from the consumers file or modify that item of information, as appropriate, based on the results of the reinvestigation.(taken from the October 1, 1997 edition of the Fair Credit Reporting Act)

 

How much does it cost?

 

It’s free to each of our home loan applicants. Call us at (808) 343 1113 for more details. You also have a right to cancel within three (3) business days for any reason from the date of our signed Agreement.  

 

 

Nadia Hilkert

Loan Consultant

  

 Visit us on the web at www.selecte-loan.com & get started today!