Frequently Asked Questions
Need more information about our Credit Repair Services? Check out our frequently asked questions for everything you need to know about The Credit Repair Process.
What is A Consultation?
A consultation is an overview analysis of your 3-in-1 credit report from each of the three major credit bureaus (Equifax, Experian, and TransUnion). A credit specialist will ask you questions to determine which accounts on the report you are questioning and conduct a needs analysis to discover your credit goal(s). From there, we provide recommendations based on your credit profile and your needs to help you crush your credit goal(s). The consultation is designed to be a brief introduction to me and my services to determine whether or not you are a candidate for credit restoration. If you are ready to proceed with our services, we will next do a detailed audit of your credit reports and begin the process of disputing those inaccurate, unverified, and/or questionable accounts.
What is A Credit Audit?
Your audit is a comprehensive analysis of your credit profile, broken down into easy to understand, actionable segments. After reading your audit, you will understand all aspects of your credit profile, and you will also know how we are going to work together to increase your credit score. Your audit will include a complete description of each item on your credit report, both positive and negative, along with action steps that you should take to improve your credit profile and credit scores.
When Do You Charge Me For The Audit?
You are charged between 7 days after the audit is complete.
Should I stay enrolled in your monitoring service?
Yes, a 3 in 1 credit monitoring service is mandatory while you are enrolled in the program. We need access to your credit report at all times to track the progress. Without an active monitoring service, we cannot assist you.
How long does the process take and when can I expect to see results?
We cannot promise you a specific timeline, nor can I guarantee you results. If you work closely with us to follow credit best practices, it should ensure that you achieve your credit goals. On average, it takes a minimum of 3-6 months to reach your credit goals. Legitimate credit repair is not an overnight fix. It’s a PROCESS that takes time to do properly. Credit restoration requires TEAMwork (TEAM = Together Everyone Achieves More). Please follow the exclusive advice we give you to make this a smooth and successful process. Everyone’s situation is unique, and some graduate sooner than others. The important thing is making sure that your credit is repaired the right way so that you have a solid financial foundation for the future.
What is the cancellation policy?
Under the California Credit Services Section 1789.16, you have five days after initial enrollment to cancel. After the five days initial enrollment, you must give 30 days prior written notice before the next billing date.
What does the process entail?
We make attempts to challenge inaccurate, unverified, questionable accounts with the credit bureaus, collection agencies, and the original creditors. I would assist you in building a strong credit profile and educate you throughout the process. You have 24/7 access to the client portal to keep you updated with the process and communicate with me via the client portal.
Can you help me build credit?
Yes! Your audit includes personalized advice geared towards your credit situation. If we feel you need additional lines of credit or better lines of credit, I will include sources of credit lines that will benefit you in my recommendations, and I’ll be sure to explain your options thoroughly.
When will I see results?
Our clients usually see results within 45 days but the credit bureaus have 30 days to process disputes. The repair process can typically take 6 months depending on the number of items we need to dispute.
What Is Credit Monitoring?
Credit monitoring is the process of periodically reviewing your credit reports for accuracy. Credit monitoring helps protect you against identity theft and monitoring any changes and/or inquiries made to your credit file. You will need it throughout the program click here: https://idclub.com/redirect.asp?GUID=7IYVGJCM74S1&sid=00834
What Is My Credit Score Based On?
35%—both timely and untimely payments. 30%—The amounts and types of outstanding debt. 15%—The time since an account has been opened. 10%—Number of recently opened accounts and recent inquiries. 10%—Number and types of accounts such as credit cards, retail, etc.
Can Items Reappear On My Report?
Yes, they can. Negative accounts that have been deleted may later reappear if verified by a creditor. According to the Fair Credit Reporting Act, the credit bureau must inform you before they re-report a previously deleted listing. The Fair Credit Reporting Act does make it hard to re-report listings, because of this it is very rare for this to occur. If this situation does ever occur we will help you challenge the listing within legal means.
What happens to accounts when they are removed?
Removing anything from your credit reports does not remove your obligation to that debt. You still are legally liable for the debt and need to settle it if it is within the statute of limitations in your state. If you feel you are over your head with debt, bankruptcy might be something you should consider, that is the only legal way to remove yourself from debt liability.
Is Credit Repair legal?
The Fair Credit Reporting Act gives you the right to dispute any misrepresentation on your credit reports. Consumer reporting agencies are required to correct or delete inaccurate, incomplete, or unverifiable information within 30 days of dispute.
Is credit repair really worth it?
In a word, yes, it usually is. If you have inaccurate negative items on your credit reports, that may impact your ability to get a loan or new credit, a house, an apartment, or even a job! And it isn’t only accounts that matter. Lenders and employers may also look at your “aliases” and past addresses for an indication of your trustworthiness. It’s common for credit reports to list the wrong name, birthdate, and address. Worse, they often list misspellings and variations as aka’s or past addresses. A person who’s lived in the same place for 30 years may have a dozen different “addresses” listed! There’s a lot more to credit restoration and credit counseling than disputing obvious mistakes.
Interested In a FREE Credit Consultation?
Draco cannot predict and does not guarantee any specific results, as results differ for each individual. Each individual’s results depend on his or her unique circumstances and numerous other factors. Prior results do not guarantee a similar outcome.
To dispute all items, Draco uses legal strategies through the FCRA and FDCPA. Draco is in compliance with the CROA.
FICO and “The score lenders use” are trademarks or registered trademarks of Fair Isaac Corporation in the United States and other countries.
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