David Anderson of Armed Forces Credit Solutions has been in the military for 19 years, and has achieved many awards for his service. He studied Global Business & Public Policy, and has expertise in the financial industry.
He served as senior mortgage officer for a well-known bank, understands the credit market, and has dealt with the credit bureaus on a regular basis. He can help you understand the issues involved with your report and create documents to clear up mistakes and remove some unwanted items to make your credit improve.
He has special knowledge dealing with veterans and their credit reports.
What is a credit score?
A credit score is a number generated by a mathematical formula that is meant to predict credit worthiness. FICO credit scores range from 300-850, and there are several other bureaus with their unique score range. The higher your score is, the more likely you are to be approved for a loan, and get a good rate. The lower your score is, the less likely you are to get a traditional loan, and may be charged a higher interest rate on any type of loan.
Why it matters:
Having a high credit score means mortgage lenders will fight for your business. You will get great deals on auto financing, best credit card offers, smoothly be approved for any apartment, and can save many thousands of dollars on refinancing over the life of your mortgage, auto loan, or personal loans.
What affects your Credit Score?
35% – Payment History
30% – Debt Ratio
15% – Length of Credit History
10% – Types of Credit
10% – Number of Credit Inquiries
Delinquencies (30- 180 days): A delinquency may remain on file for seven years; from the date of the initial missed payment.
Collection Accounts: May remain seven years from the date of the initial missed payment that led to the collection (the original delinquency date). When a collection account is paid in full, it will be marked as a “paid collection” on the credit report.
Charge-off Accounts: When a delinquent account is sent to a collections company. This will remain for seven years from the date of the initial missed payment that led to the charge-off (the original delinquency date), even if payments are later made on the charge-off account.
Closed Accounts: Closed accounts are no longer available for further use and may or may not have a zero balance. Closed accounts with delinquencies remain for seven years from the date they are reported closed, whether closed by the creditor or by the consumer. However, the delinquency notation will be removed seven years after the delinquency occurred when pertaining to late payments. Positive closed accounts continue to be reported for ten years from the closing date.
Lost Credit Card: If there are no delinquencies, credit cards reported as lost will continue to be listed for two years from the date the creditor is contacted. Delinquent payments that occurred before the card was lost are reported for seven years.
Bankruptcy: Chapters 7, 11, and 12 will remain on one’s credit report for ten years from the filing date. A Chapter 13 bankruptcy is reported for seven years from the filing date. Accounts included in a bankruptcy will remain for seven years from the date reported as included in the bankruptcy.
Judgments: Remain seven years from the date filed.
City, County, State, and Federal Tax Liens: Unpaid tax liens remain for fifteen years from the filing date. A paid tax lien will remain on one’s score for 10 years from the date of payment.
Inquiries: Most inquiries listed on one’s credit report will remain for two years. All inquiries must remain for a minimum of one year from the date the inquiry was made. Some inquiries, such as employment or pre-approved offers of credit, will show only on a personal credit report pulled by you.
OUR MISSION IS TO HELP PEOPLE GET AHEAD AND SEPARATE THE PAST FROM THE PRESENT.
With our assistance and document processing, our clients have had great success with bankruptcies, foreclosures, collections, charge-offs, repossessions, medical bills, credit card debt, inquiries, late payments, old addresses, judgments, tax liens and student loans.
We conduct a detailed line by line audit of your credit report applying the federal laws in the reporting process. Then we detect line items that are questionable, obsolete, and unlawful and require verification and compliance. We create powerful letters that place the burden of proof on the credit bureaus and creditors. We can utilize Servicemembers Civil Relief Act (SCRA) for military families when applicable.
Having great credit is more important than ever. But why work with us?
We are a company with integrity.
This is a veteran owned business
Specialized knowledge unique to military families.
We are very experienced with consumer, business and mortgage credit.
We will be intimately involved with your credit improvement experience.
Our fees are reasonable and there are NO long binding contracts.
We help you to work with your files until it is done.
Just an increase of 20 points in your credit score can mean a difference of tens of thousands of dollars in interest saved on an average priced home and hundreds of dollars of interest saved on car payments, credit cards, and other consumer products.
Initial processing fee $200 charge after credit report received *Military discount available
Then $39.99 monthly fee
We do not charge an hourly fee
Online invoice portal to keep track of payments
We help and guide you from start to finish and we prepare all of the documentation for the various credit agencies. Our fees are reasonable and there are NO long binding contracts. We help you to work with your files until it is done.
Improving your credit is one of the wisest investments you can make!
Our Cancellation Policy:
Once the agreement is signed, you have a three day grace period to cancel by law, which is spelled out in the agreement. After this grace period, the agreement is in force as stated.
After the initial service, you may cancel services at any time. Please notify us in writing 7 days before the next billing period.