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You are not alone. Eighty-two million Americans have a poor credit rating. A poor credit rating will cost you thousands of dollars in additional interest on your mortgage, automobile loans and credit cards. Our goal is to improve your credit scores through credit restoration and education so you can manage your credit rating in the future.


Typically, an account goes into collections after it has gone unpaid for 90 days or more. Usually the creditor enlists the help of a collection agency after in-house attempts to collect an account have failed. Sometimes a creditor sells the account to a collection agency for a fraction of the amount owed. The collection agency is then entitled to 100% of the money they collect. The collection agency reports a separate collection account on your credit report representing their effort. The same account may be reported twice on your report - once by the creditor, and once by the collection agency. After being sold by the creditor, the same account may be resold numerous times to other collection agencies, which registers a new collection account on your credit report. You have substantial legal protection to shield you from the harassment of collection agencies.

Late Payments

The definition of a late payment varies between creditors and the bureaus. Typically for creditors when a payment is made past the defined due date it is considered late. For bureaus, a payment is considered late when it is made 30 days or more after the creditor due date. Bureaus report the history of late payments that are made more than 30, 60, 90 days past the due date.


When a creditor sells a delinquent account to an independent collection agency, the account is considered 'charged-off' by the creditor. Your credit report identifies the account as a 'Charge-Off'. The collection agency also reports the account as a collection account. The creditor ceases all attempts to collect the account because they no longer own the debt. A creditor will seek to claim the remaining unpaid debt as a business tax loss. A charge-off is harmful to your credit score and usually occurs with unsecured loans such as credit card debt.


A judgement is an official court decision of a suit. This public record may be listed on your credit report in matters of money and debts owed. When a creditor charges-off debt and sells it to a collection agency, the collection agency may seek a judgment against you in court. If a collection agency receives a judgment against you, they will attempt to seize your assets as payment for the debt.


A lien is a legal claim of one person on the property of another as security for a debt. A creditor or collection agency may make a claim against property for money owed them. Loans that are secured involve property, called collateral. Unsecured loan do not involve liens on collateralized property.


A bankruptcy is an official legal declaration that one is unable to pay their debts, and under law seeks legal protection from creditors. There are different types of bankruptcy protection agreements. The most common are called Chapter 7 and Chapter 13. Many people unnecessarily rush into bankruptcy without having all of the facts. A bankruptcy is the single most damaging negative on a credit report. Build Perfect Credit has successfully disputed bankruptcies, both chapter 7 and 13.


A foreclosure is a legal action that terminates all ownership rights in a home when the home owner fails to make the mortgage payments or is otherwise in default under the terms of the mortgage. In a foreclosure, the creditor uses the legal system to force the sale of property in order to liquidate the equity in the property to satisfy the debt.


Repossession is a forced or voluntary surrender of merchandise resulting from the failure to pay as promised. The creditor will seize the item to pay off the loan or a fraction of the amount owed. If the loan is not satisfied by the sale, the creditor may seek a judgment or hire a collection agency to collect the remaining balance.


Inquiries are requests made to obtain information about your credit report. Hard inquiries are made by creditors or a potential creditor and will damage your score for up to a year. Soft inquiries are request made by you or non-creditor entities such as employers, landlords or credit bureaus. A soft inquiry does not affect your score.

Identity Theft

Identity theft is a form of fraud where someone assumes another person's identity, in order to access resources or obtain credit. Identity theft occurs when someone uses your personally information to commit fraud or other crimes.

Identity theft is serious. While some identity theft victims can resolve their problems, others spend thousands of dollars and many days repairing damage to their good name and credit report. Some consumers victimized by identity theft lose job opportunities, and are denied loans.

Incorrect Personal Information

Personal information on a credit report includes:

  • Names and Aliases
  • Addresses
  • Social Security Number
  • Date of Birth
  • State ID Number
  • Spouse Information
  • Employers

When an erroneous item appears on a credit report, it may be the cause of incorrect personal identifying information. Reporting correct personal information reduces the chances of having erroneous items appear on credit report.