Credit Counseling

Greg offers credit counseling for qualifying clients to avoid bankruptcy in 18 payments.  Greg negotiates your unsecured debts such as credit card charges and unsecured loans at a substantial discount designed to eliminate your unsecured debts in 18 payments or less.

When you come in for a free consultation, Greg will explore all your debt elimination options including bankruptcy.  If in his independent legal judgment and experience dealing with creditors and your financial circumstances, Greg determines you are a good candidate for the credit counseling program, he will work out a debt elimination plan with your unsecured creditors usually at a substantial discount.

Example:  You have $20,000.00 in credit card debts.  Greg can usually work out settlements with most of your creditors from 45% to 80%.  At 70%, Greg can reasonably settle $20,000.00 in credit card debts for about $14,000.00 inclusive of principal and interest.  This would result in a savings of about $6,000.00!  You would make one payment of $778.00 per month into your client’s trust account for 18 months.  As your client trust account is accumulating, we are making lump sum settlements to each debt until all your debts are settled and paid in about 18 months.

Fees: All fees are included in your monthly payment.

So, if you want to explore all your options, call Greg Dunn now at (808) 524-4529.

Frequently Asked Questions

1. What is the minimum amount of debt to Qualify?

Normally, a client with at least $10,000 of unsecured debt (e.g. credit card debt, medical debt, deficiency balances) is a good candidate for our services.  However, your free consultation will determine what is best for you.

2. What types of debts can I include in credit counseling?

Any unsecured consumer debts greater than 1,000.00 (e.g. credit cards, personal loans, medical bills, and repossessed auto balances, etc.).

3. Can I only include bills that are causing me problems?

Yes. However, it may result in a creditor not accepting as good a settlement as we would like due to your open accounts.  We feel that it is in your best interest to have a majority of your unsecured bills handled through us.

4. Do I have to be behind in my debts to qualify for this program?

No.  Anyone can qualify for this program who wants to become debt free.

5. How much debt can you reduce, what are my minimum payments, and over what period of time can you settle my debts?

Call us for a free consultation.  Everyone's financial situation is different.  If you qualify, we are confident we can reduce your total debt by 20%-55%, inclusive of all fees.  Your monthly payment plan will help you become debt free in 18 months or less.

6. How is this program different from Consumer Credit Counseling and Debt Consolidation Programs?

There is an enormous difference between our credit counseling program and these other programs.  Our program actually reduces your principal and helps you become debt-free in less than 18 payments.  Consumer Credit Counseling programs are supported by the credit industry and merely shave points off your interest rates and remove late fees.  However, you are still saddled with the principal and interest which could take several years to payoff.  Debt Consolidation programs just help you lower your interest rates, but do nothing for reducing your total debt.  Greg Dunn works for you --- not the credit card industry. Our goal is to get you completely out of debt as quickly as possible.

How it Works

Where is my money being held until a settlement can be reached?

All funds are held in a client trust account for you.

When will the negotiation process start?

The negotiation process starts immediately after you retain us to represent you.  However, to begin negotiations with creditors and in order to satisfy your settlements, you must have sufficient funds available in your Trust Account.

Do you wait until the end of the program to negotiate and settle all my debts?

No.  Each case is handled differently.  The negotiation and settlement process takes place throughout the duration of the program, dependent on your trust account balance and the policies of particular creditors.  Furthermore, certain creditors require priority settlement in certain circumstances such as a pending lawsuit.  

What happens if I miss a payment into my Trust Account?

We know that unexpected expenses arise that will prevent you from making your monthly payment.  Don't worry, we understand.  Simply call us to discuss other arrangements.  You will not be dropped from the program.

Can I put more money into my Trust Account?

The negotiation process is based on how much money accumulates in your Trust Account. The more money you deposit, the faster we can make offers to each creditor, and the sooner you will become DEBT FREE.

How will I know what Greg Dunn is doing for me?

As your account builds in equity and settlement offers are accepted by your creditors, you will receive copies of the settlement acceptance letters for your records.

Will you stop interest and late fees from being charged on my accounts?

We do not prevent interest and late fees from accruing.  However, we incorporate those fees into your settlement account.  Your monthly payment remains the same.  The interest would have accumulated even if you had been making minimum payments on time.  Since we settle your account at a substantial discount, the amount you save will far outweigh any additional interest and fees that may accrue.

Do I continue to pay my creditors when I am in the program?

No.  You should stop making payments on any accounts we are negotiating on your behalf. Instead, you will be making monthly payments into your trust account.

How do you work with my creditors?

We work out settlements with your creditors and accept their calls on your behalf. When we have enough funds available, we will make a legitimate offer to settle your account.

If my salary is strictly commission can you help me?

Yes.  We are sensitive to fluctuations in income.  We will evaluate your financial situation and develop a solution for your unique needs.

Cost

How much does the Credit Counseling Program cost?

The consultation is absolutely FREE.  After determining that you qualify for the program, there is a representation fee and a percentage fee based on the amount we save you.

Credit Report Status

Is this program going to ruin my credit?  Will I ever have good credit again?

During the program, your credit may be affected negatively.  However, with each settlement we will negotiate a more favorable credit rating on each settled account.

Handling Creditors

Should I tell my creditors that I am making monthly payments in my client trust account?

NO.  You must NEVER, under any circumstances, discuss your financial arrangements with creditors since it will impact our leverage to settle your accounts.  The only information you should ever relay to your creditors is that bankruptcy attorney, Greg Dunn is handling your account.  This is for your protection.

Can the creditors call me at home?

Creditors cannot call you at home after we have notified them that you are our client.

Can the creditors call me at work?

Creditors cannot call you at work nor at home once we have notified them that we represent you.  If they do continue to call, notify us immediately and we will take appropriate action.

Will I continue to get statements and other correspondence from my creditors?

Yes, you may receive such statements. Please forward these to our office for appropriate action.

Sometimes creditors demand that I call them back by a certain date and time or else... what should I do?

DO NOT call them back.  We want all communication between you and the creditor to be in writing. This is for your protection.

What if a creditor threatens me?

Immediately contact us.

Do we return creditor phone calls?

Yes.  Creditors are instructed to call us.

Credit Repair

Are You: Paying higher-than-normal interest rates? Denied credit for a mortgage or car loan? Hassled by creditors?

1. Credit restoration may take up to 12 months due to the credit-reporting agencies continuing mistakes and delay tactics.  The credit reporting agencies receive thousands of disputes each day.  They receive 30 to 40 million bits of new data daily and with the processing of such vast amounts of information there are countless errors.  In fact, 70% of all credit reports have mistakes of some kind.

2. Credit Repair is extremely comprehensive.  It involves all three credit-reporting agencies (Transunion, Experian, and Equifax) and the creditors who originally furnished the information.  We help consumers have inaccurate, erroneous and obsolete items identified and corrected on their credit reports.  In short, if the negative item is not 100% accurate, or is incomplete, obsolete or no longer verifiable, then we can force the credit reporting agencies to delete it.  The Federal Fair Credit Reporting Act (FCRA) governs these actions. 

“Inaccurate" items on a consumer's credit report are items that are either:  1) erroneous, that is don't belong to the consumer;  2) inaccurate information of any kind about the item; and  3) obsolete items that have exceeded the reporting timeline for that item which should be deleted.

3. The good news is that Credit Repair can correct all three credit reports of erroneous, inaccurate, and obsolete information.  We challenge and dispute every negative entry on a credit report regardless of its correctness or validity.  Basically, if the credit reporting agencies (or the creditor on the other end of the investigation) won't do everything necessary to legally verify the challenged listing, then the item must be deleted.  In practice, about one out of every three negative entries has been taken off a credit report each time the report is disputed.

4. Even accurate but negative credit entries on a consumers credit report can be removed because most of the time the credit reporting agencies are unable to verify these entries with 100% accuracy.  If they cannot, the item must be removed in compliance with the Fair Credit Reporting Act (FCRA). 

In many cases, the credit reporting agencies are too inefficient to verify information on the consumer's credit report in time or the companies involved tell the credit reporting agencies that the information cannot be verified because they don’t have the time and resources to verify information every time someone disputes an account.  If the information is not verified within 30 to 45 days, then it must be deleted from the credit report.

5. The credit reporting agencies must fully comply with the Fair Credit Reporting Act (FCRA).  Information contained on credit reports must not only be 100% accurate, but also be 100% verifiable.  Disputing items almost always result in unverifiable items being removed because the dispute not only involves the accuracy of the information but also the little details that make up the entire listing.

6. The entire cost of Credit Repair is $1200.00 which may be paid in six (6) equal monthly payments of $200.00.  The service repairs all three credit reports: Transunion, Equifax and Experian.  The credit restoration period usually takes up to 12 months.

Frequently Asked Questions

I have been refused credit.  Can I do something about it?

Absolutely! A significant number of Americans have some "blemish" on their credit reports.  Due to the nature of the credit reporting industry, those blemishes can be mistakenly included on your record.  Frequently, credit reports contain inaccurate, erroneous or obsolete entries.  Under the law, the credit reporting agencies must remove inaccurate, erroneous or obsolete information.  You should check your credit report and see why you were, or may be, denied credit.  Then, as a Credit Repair client, you can do something to correct the mistakes and have your report corrected.

Are "Credit reporting agencies" a part of the government?

No.  Credit reporting companies are just that --- companies.  They are in business to make money, just like the mega-billion-dollar banks that run the credit card businesses.  The credit reporting business is a multi-billion dollar industry.  They generate their income by selling credit reports to creditors.

Is it illegal or immoral to have your credit profile improved?

No.  It is not illegal or immoral to eliminate mistakes on your credit reports.  In fact, the Federal Government, under the Fair Credit Reporting Act, Section 1681e, protects your right to do so.

How does the credit reporting system work?

Today, the credit reporting system is literally millions of computer files about individual consumers which are maintained by the three credit reporting agencies.  The files contain personal information about you - how much you owe, how you have paid your debts, your employer, your social security number, public records, etc.

How does information about me get into my credit report?

When you agree to accept credit from a bank, most retail stores, etc., or fill out an employment application - if a credit report is used as a background check - you give the creditor the right to provide information to any credit reporting agency.  Additional information about you comes from public records, such as court records, debt collection companies, and even the utility companies.

How do the credit reporting agencies work?

The banks, retail stores, utility companies, etc. report your payment record to the credit reporting companies each month.  The credit reporting agencies then give that information to a second tier of regional reporting companies who sell it to retailers and banks or anyone who legitimately requests information about you. 

Why should I care what is in my credit file?

You'd better care.  It is your credit report that creditors use to determine if they will extend credit to you.  If you have inaccurate information on your report, you may be turned down for the loan you need or pay unnecessarily high interest rates.

Why do the credit reporting agencies have separate reports for husband and wife?

The credit reporting agencies collect information based on individual social security numbers.  Only by checking both the wife's and husband's credit reports can we ensure accuracy.

Who can request information about my credit file?

Under the Fair Credit Reporting Act, a credit reporting company may disclose your credit report if someone is:

a.  Granting credit, reviewing your account, or collecting on your account.

b.  Reviewing you for employment purposes.

c.  Reviewing your application for insurance.

d.  Reviewing your eligibility for a license or government-related benefits.

e.  Providing information for a business transaction, such as renting an apartment.

f.  A court order.

g.  An IRS subpoena.

h.  Someone to whom you have given written permission.

How often are mistakes entered into my credit file?

Frequently!  Some experts say a significant number of credit reports contain errors!  These are inaccurate, erroneous, or obsolete information that can cost you the credit you deserve.

Who will remove items from my credit report?

Only the credit reporting agencies have the power to remove items from your credit report.  But, as required by law, the credit reporting agencies must correct or remove inaccurate, erroneous, or obsolete information.

How can I add positive data to my credit report?

Since the Fair Credit Reporting Act does not require creditors to report information about you, many do not.  That means positive information may not be reported.  As long as the positive information is verified, it can be added to your credit report.

How long does the restoration process take?

It may take up to 12 months due to the credit reporting agencies' continuing mistakes and delaying tactics.

Can Credit Repair I that information be removed from a credit report which I have gotten from a merchant?

We can request that a credit reporting agency remove inaccurate, erroneous, or obsolete information from your credit report which can only be obtained by you from the three main credit reporting agencies.  Second hand information, such as that obtained from a merchant, is not considered a report directly obtained from one of the three main credit reporting agencies.

Should I apply for credit while in the restoration process?

Do not apply for credit during the restoration period.  Each time you apply for credit, an inquiry is recorded on your record and too many inquiries can be a cause for denial of credit.

Are credit reports all the same?

No.  Each of the three credit reporting agencies' reports looks different and may not contain the same information.  The companies maintain their own databases and do not often share information.

Do the credit reporting agencies own the information on your credit report?

No.  But, you do not own the information either.  It is owned by the individual merchant or creditor who put it there.

Does paying a past due debt remove the debt from your credit report?

Paying an old debt does not erase the fact that at one time you were not paying it as you agreed, but it is possible to update your payment history.

What happens if new, negative information - information that was not on my original report - is added to my report after Credit Repair has begun work on my behalf?

We will work on the information in your credit report as long as you remain a client.

How will I know the results following the credit reporting agencies review of my file?

You will be the first to know because the credit reporting agencies will write directly to you.

Once a credit reporting agency has removed an item from a customer's credit report, can it be reinserted?

Credit reporting agencies are often reinserting items that they have previously removed from a consumer's credit report.  According to the Fair Credit Reporting Act (FCRA), one of the requirements for reinsertion of items is that a consumer must be notified within five days when an item is reinserted.  Most consumers are not made aware when these items are reinserted at all, let alone in five days.  That's one of the benefits to our customers when signing up for our service for a year.  They find out when items are reinserted, and then we can have the credit reporting agencies verify that the item is in fact accurate, and that they followed the FCRA requirements for reinsertion.

How is our service better than dealing directly with the credit reporting agencies?

The best analogy that we can offer is that if you had a serious heart condition, would you see a heart specialist or would you attempt to do it yourself?  Another analogy is that if you had a serious debt problem and your creditors were trying to garnish your paycheck, would you hire a divorce attorney or would you hire an experienced bankruptcy attorney?

Most consumers do not have the time or resources to fully understand the Fair Credit Reporting Act (FCRA) nor do they want to.  Credit Repair makes sure you receive the proper legal protection pursuant to the Fair Credit Reporting Act.  The credit reporting agencies are advocates for their clients --- the financial and lending institutions.  Credit Repair advocates for you and your consumer rights.

Credit reporting agencies are experts at delay tactics, mistakes, noncompliance and outright resistance to consumer rights.  They have a track record with the Federal Trade Commission (FTC) a mile long.  Although the FTC cannot act as your lawyer in private disputes, you can report violations to them.  The FTC collects complaints and writes advisory opinions that are admissible in a court of law. In fact, one in five complaints to the FTC involve credit reporting agencies.

The credit reporting agencies know that most consumers will not sue them because of the high costs involved in a lawsuit.  Therefore, there is no economic incentive for them to comply with you. That is why the majority of consumers have inordinate troubles trying to correct their credit reports.  

We advocate for you and your consumer rights. So call Greg Dunn at (808) 524-4529.