-- What are the advantages of using HTDI Financial Consumer Division? --

HTDI Financial is not new at this process. We have been helping consumers since 2004 and we take pride in our work.  We average one of the highest fix/deletion ratios and track it in real time on this site.  We have the highest integrity out of any company today and will never resort to hard pressure sales or false claims and deceptive advertising.

In a lot of cases we actually turn away prospective clients that are not good candidates for this service.  It would be a difficult feat to find a company that would do that.
 

-- How much does bad credit cost? --

Here is a mock example of what you may experience with different scenarios of credit status:

Credit Cards Most if not all prime credit cards are entirely out of reach to consumers with bad credit. And the few credit cards that are available to them (known as “sub-prime” cards) typically require exorbitant setup fees or recurring monthly fees, offer very low credit lines, often require cash deposits, and in most cases do not even report your positive credit activity to the credit bureaus.

Automobile Financing If you are making payments on a car, you are probably paying between $5,000 and $9,000 more just for having bad credit. This added interest shows up every month in a higher payment. Take a look.

$20,000 Vehicle Financed for 5 Years

Credit Status	Rate	Payment	Cost of Bad Credit
High Credit Score	10%	$424.94	$0.00
Slightly Damaged	14%	$465.37	$4,722.54
Damaged	20%	$529.88	$8,593.30

Home Mortgage Bad credit in auto financing can really hurt, but it is nothing compared to the cost of bad credit when a home is involved. A typical home can cost between $50,000 and $130,000 more in interest if you are buying the home with bad credit.

$100,000 home paid over 30 years:

Credit Status	Rate	Payment	Cost of Bad Credit
High Credit Score	7%	$655.30	$0.00
Slightly Damaged	9%	$804.62	$50,155.24
Damaged	12%	$1,028.61	$130,791.63

As you can see, a low score can cost you hundreds of dollars per month. Which is why it is so important to obtain and maintain as high a score as possible.
 

-- How do you restore bad credit? --

There is no magic wand that will erase bad credit, despite what some companies may make their service out to be.  The Fair Credit Reporting Act clearly states that derogatory items must be accurate and verifiable to be on your credit report.  If these negative items do not meet the criteria outlined in the FCRA then it must be deleted or corrected.

There are no secrets to credit repair.

 

-- How long does it take? --

It is understandable that everyone wants to see results immediately. Although everyone's credit history is different, everyone will see responses from the bureaus within the first 45 days. Every month after that your credit picture improves.  Credit repair is not an overnight fix, however changes can be seen as early as just a couple of months of service and the longer you continue to contract with HTDI Financial Consumer Division, the chances of removing more inaccurate and  unverifiable items increase. 
 
 

-- Can you guarantee to remove my negative items? --

No company can guarantee results in any fashion.  The law does not allow for companies to guarantee removal of negative information and falls under false claims and deceptive advertising, a clear violation of the Credit Repair Organizations Act.  No one can remove accurate, verifiable and complete information from your credit file. 

We have been successful in helping clients remove inaccurate, unverifiable and incomplete information from their credit file, thus improving their credit pictures.
 
 

-- What if removed items reappear? --

This happens occasionally either by accident or a creditor has eventually verified a particular item. This is what is known as a 'soft delete' and the credit bureau must send you a notification letter within 5 days of reinsertion. The FCRA (Fair Credit Reporting Agency) has made it much more difficult for a creditor to replace an item once it has been removed.

If added by mistake, HTDI Financial Consumer Division will re-challenge the item with the full force of the prior removal in our favor.
 

-- Is this legal? --

Yes, you are given the right under the Fair Credit Reporting Act (FCRA), including the right to challenge inaccurate, misleading and obsolete items appearing on your credit report. HTDI Financial Consumer Division uses every venue available to you under the law to help you assert these rights.

Disputing items on your credit report is your legal right under the the Fair Credit Reporting Act. When you contract with HTDI Financial Consumer Division, we are abiding by and using all federal and regional laws regulating third party credit repair assistance.
 
 

-- What is a credit score? --

A credit score is a numerical ranking system that lenders use to determine how much of a credit risk you are. A credit score is a numeric indication of how likely you are to repay debts such as loans or lines of credit. Lenders use this number to determine how much of a credit risk you are.

Credit scores also are designed to indicate your creditworthiness in comparison with other consumers.

Credit scores are based on the data in your credit report and are generated by computers using artificial intelligence. Usually a credit score is between the numbers 300 to 900. The higher your score, the more "creditworthy" you are to lenders.
 
 

-- What is my credit score based on? --

Credit scoring is based on many factors that may include:

Amount of available credit
Payment history
Recent requests for credit
Amount of credit currently being used
Length of credit history

Under the Equal Credit Opportunity Act, credit scoring may not use gender, martial status, national origin, race, or religion as factors.
 
 

-- When I pay off a past-due account, such as a charge off or a collection account, will it show "paid" and will no longer be negative? --

It is quite difficult to restore your credit without somehow satisfying your outstanding debts. However, the act of paying off a debt can actually hurt your credit. Negative credit is allowed to stay on the credit report for a maximum of seven years, except for bankruptcy, which may remain on the credit report for ten years.

By paying an outstanding, delinquent debt you will change the account status to "paid collection," "paid was late," or "paid was charged off" - which will still stand out as a very negative listing. Furthermore, you will renew the "Date of Last Activity" which can result in a lower score due to the credit scoring algoryhtms.

 

-- I've  heard there are some negative listings, such as bankruptcies and foreclosures that are said to be impossible to remove from the credit report --

There is no type of negative listing that hasn't been removed from a credit report if it is unverifiable, inaccurate or incomplete.  Public record information fall under the same guidelines as other negative listings.  If it cannot be verified or if it is inaccurate, it must be corrected or deleted from the report.

 

-- I've been told that there is no reason to hire a company like you and that I should do this on my own--

Yes, there is nothing that a credit repair company can do that you cannot do for yourself.  If you feel that you do not have the experience and/or time to take on this task by yourself, companies like ours are willing to help. 

Some companies will try to discourage you from doing it on your own or may not disclose this to you.  Federal law states that credit repair companies MUST advise you of your consumer rights, and that you can do this yourself.  It is even in our welcome packet to each consumer. 

 

-- What about adding a "100-word statement"? --

The 100 word statement, although had good intentions when created, typically are not used, in our opinion, for your benefit or even looked at by a lender. 

 

-- I've  heard that if I declare bankruptcy, I can begin my credit report all over with a clean slate --

Many bankruptcy attorneys do not adequately explain the effects of bankruptcy to their clients. Stated simply, bankruptcy is to the credit rating what the nuclear bomb is to war. When you file for bankruptcy, every credit account that you decide to include in bankruptcy will become an "included in bankruptcy" account. Additionally, a bankruptcy filing and bankruptcy discharge listing will appear in the court records section of your credit report.

 

-- I've heard that by changing numbers in my social security number or by using an EIN tax number, I can fool the credit bureaus into creating a completely clean, new credit file under my name --

That is highly ILLEGAL and run away from any company that brings this up as an idea.

 

-- I've heard that if I build enough good credit, it will offset my bad credit and make me credit worthy.  After all, I was only late a couple of times --

Any amount of bad credit is devastating to your chances of being approved by a credit grantor. Most credit grantors never actually look at your credit report. A computer pulls your credit report, rates your credit standing, income, indebtedness, and stability, and then spits out an acceptance or denial. Even one or two slow pays will usually trigger a credit card or personal loan denial. The slightest amount of negative credit will cause the interest on an auto loan to skyrocket. You will probably find that even a little bad credit, regardless of how much good credit you have, is an unacceptable barrier to credit approval.

 

-- I've heard that the law requires that these items remain on the credit report for at least seven years.  --

When you speak with credit grantors, collection agencies, or credit bureaus, their typically under-educated staff may tell you all manner of such pseudo-legal nonsense. The law demands that negative listings appear on your credit report for "no longer than" or "up to" seven years. The credit grantor or the credit bureau can choose to delete the negative credit listing whenever they see fit or if the items are unverifiable, inaccurate or incomplete.

 

-- Why Do I need to Pay My Bills? --

When we delete a negative credit report listing, the actual debt remains. You still owe the same amount of money that you owed to begin with. If you don't pay the debt, the creditor or collection agency could always report the item again. So removing the listing without addressing the debt is only a temporary solution.  Additionally, our service is designed for individuals that can pay their bills now, but have had problems in the past.