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Credit Repair
5 Simple Steps Business Owners Need To Secure Their Credit
Identity compromises are becoming more common. Almost every month we hear new reports about hackers, breaches, identity theft and new scams, like IRS scams, Blue Cross Blue Shield scams and disaster relief scams.
For a business owner it is highly important to secure his/her personal credit and business credit. Here are some tips to protect your personal credit and secure your business.
Credit Freeze
Did you know Hispanic business owners are huge targets for identity theft? That’s correct. This radical movement for illegals hurts our country than helps it in many ways. Illegals are buying successful Hispanic and other ethnic groups idenitities through the black markets. Is it fair for a Hispanic small business owner or any business owner to get their idenity stolen? Of course not. For example: A past client of mine has a Greek descent last name and of course his identity was compromised with a cell phone bill and two credit cards. His Greek descent last name was used by an illegal who didn’t have a social security number. I have seen more stolen identities with the Hispanic community and other ethnic groups who are also small business owners than a common last name like “Smith”.
Since credit freezes are free, there should be no reason for small business owners to secure their credit with a credit freeze. With a credit freeze, you are the only person who can access your credit by locking and unlocking your personal credit report with your password that was provided by the credit bureaus. Even if you apply for credit with a lending institution, you first have to unlock your credit before your loan officer has access to pull your personal credit for a business loan, home loan or auto loan or even a credit card.
Credit Monitoring
When you are a small business owner, you must keep track of your credit. Enrolling in credit monitoring with Equifax or Experian and Equifax Business and Experian Business are good options to receive credit alerts on your personal or business credit report. What if you did not authorize a purchase on one of your credit cards or an unauthorised credit inquiry. Pretty much, credit monitoring allows you to stay up to date with your personal credit activity.
Change Passwords
It is very important to constantly change passwords especially when an employee exits or pre-exists with their two week notice.
Hire a Reputable IT Company
Hiring a good computer security company will save you a lot of heartache. You never know if you received malware that a keylogger attached to an unfamiliar email. Once you open the unfamiliar email and has the keylogging software attached to it, the keylogger then has full access to your computer strokes. A reputable IT company can stop majority of malware and keyloggers entering into your computer, cloud or server.
Limit Business Credit Card Usage
Allow a few employees with your business credit cards. I am speaking of small businesses and not large businesses. When an employee exits or plans to exit, you may cancel that card number at anytime.
For more information on how we can help you with your personal credit or business credit in Kendall FL, Miami FL, and Coral Gables, FL please fill out the online contact form about your concerns or give us a call at 855.477-9007. Read what our valued clients have to say about First Pro Capital and Credit Consulting Professionals on our Testimonials page
Four Alerts to Protect Your Personal Credit Information
More and more credit scams, hacking, website compromises, and impostor scams are heading our way. What should a consumer do to protect their personal credit with all these scams that are all over the planet?
Never Give Your Personal Information to an Incoming Call from a Credit Card Company
An impostor maybe contacting you stating you can raise your credit limit but they need all your personal information to approve you. Do not converse with this type of call at all. First of all, a credit card company will never call you to increase your credit line and ask you for your personal information because they already have your personal information. Secondly, the creditor may increase your credit line without your knowledge because of your good payment history and decent utilization of your card. Also, if you were not automatically offered an increase for your credit card, you personally would have to call your creditor and request for one.
Never Inquire for a Business Loan Online
All too often there have been bait websites for business owners to apply for a business loan, it is a bogus application and their personal information and bank account information get stolen. When the perpetrator baits your personal information, he creates a false identification with your name on it and cashes out your bank account, because he has copies of your bank statements. This type of fraud actually happened to a client of mine that was out a total amount of $72,000. Always get referred to a commercial loan officer from a local bank for a conforming business loan or a commercial broker for alternative business financing
Never Give Your Personal Information to Robo Calls or Call Back 800 Number Text Messages
Beware of health insurance, life insurance and auto insurance robocalls, most likely they are a bait to get your personal information and steal your identity. The most common fictitious robocalls state they are from Blue Cross Blue Shield In addition, if you receive text messages from an unfamiliar phone number regarding your credit card, do not contact that number. Instead, call the customer service number located on your credit card or statement and inquire if there are any issues with your account.
IRS Scams
IRS does not initiate any emails, social media or text messages, thousands of people lost millions of dollars due to an IRS tax scam. Avoid providing your personal information to any so called IRS agent that is contacting you and asking you to pay off a collection. The latest IRS tax scam is a letter from the IRS stating that you owe them money. My suggestion is contact your CPA and have him or her initiate the calls with the IRS to check if you do or do not owe that amount of money. The types of IRS scams are located on the IRS website
For more information on how we can help you with your personal credit or business credit locally in Boca Raton FL and Palm Beach, FL please fill out the online contact form about your concerns or give us a call at 855.477-9007. Read what our valued clients have to say about First Pro Capital and Credit Consulting Professionals on our Testimonials page.
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How a Wrong Loan Officer for You Can Hurt Your Personal Credit
This is just a follow up about how excessive mortgage inquiries impact your credit scores
Since the lending industry strengthened, yet again we see unprofessional mortgage and commercial banking representatives who freely pull credit without the borrower’s authorization, believing their credit scores may increase just a little to get them qualified for a loan. A smart and seasoned mortgage or commercial loan officer never pulls credit more than once during a 30 day period, unless it was a Rapid Rescore request. Lately, unauthorized credit inquiries are becoming more common, We have seen some unprofessional mortgage representatives and commercial loan officers who pull excessive credit inquiries within less than 30 days.
If you visit an online site for competitive rates, believe it that your credit report will be pulled by more than one lender, which will cause excessive and unnecessary hard credit inquiries on your credit report. Excessive credit inquiries reduce your credit scores. A referral to a mortgage banker or mortgage broker is the key, it will allow you to save time, money and not hurt your credit scores.
We have displayed a recent dispute for a client’s unauthorized credit inquiries. The mortgage loan officer pulled two credit inquiries within two days and another mortgage inquiry after one week, a total of three. My customer was just curious about what the interest rate was; he was unfamiliar with the mortgage professional and did not realize he was taking a mortgage application. (Please note, the client’s personal information and the mortgage company’s information were blotted out due to privacy rules)
After we requested an investigation with the credit agency that provides credit reports for lending institutions, for their defense, the lender provided a blank and undated credit application, besides not furnishing a credit authorization form that my client never signed. Fast forward, the third party credit agency stated our dispute is accurate and valid, and processed the removal of three unauthorized credit inquiries.
In addition to our correspondences, we processed the mortgage inquiries dispute for the client’s behalf with all three credit bureaus, Transunion, Equifax and Experian. The first process was completed in 15 days and the final process was completed 15 days after initiating the unauthorized credit inquiries, a total of 30 business days to remove three unauthorized credit inquires.
Now, the choice is yours for a free thorough credit consultation
For more information on how we can help you with your personal credit or business credit locally in North Palm Beach and Jupiter FL please fill out the online contact form about your concerns or give us a call at 561.244.9914. Read what our valued clients have to say about First Pro Capital and Credit Consulting Experts on our Testimonials page.
Four Original Well Established Credit Concepts at this Company
After establishing myself in the finance industry for over 25 years, I have helped thousands of clients especially small and mid-size business owners and real estate investors with their financial landscapes.
Hands On
The credit restoration process at this company has always been and always will be “hands on”. The hands on approach in restoring or improving personal credit or business credit was the basis of this company, our restoration process can never be duplicated since it is customized for each individuals or business circumstances.
Manuel Credit Audits
Ask our past clients, not only were we successful with the credit audit discoveries, we were also able to settle the distressed debt and in many cases remove it completely off the credit report. In some instances, attorneys use our credit audit discoveries for the client’s legal case. In some cases, were also called as an expert witness.
Debt Negotiations
Many times a client has medical or other types of collections, charge offs or deficiencies that negatively impact their credit scores. We incorporate settling distressed debt with the personal credit and business credit restoration process
Quick Quality Service
Within 10 to 30 business days, you will see positive results with your personal credit or business credit. There is a money back guarantee for all our clients who enroll for personal credit restoration or business credit restoration. Past clients who worked us were well pleased with their results
Be careful of other credit restoration companies that claim they are “hands on” because what they do is take your credit report and scan it through a computer generated software system that spits out generic credit repair disputes and call it “hands on”. Our personal credit repair and business credit repair process is strictly hands on, all manual and customized
Now it is your turn to receive our free thorough credit consultation!
For more information on how we can help you with your personal credit or business credit locally in Estero FL please fill out the online contact form about your concerns or give us a call at 239.260.4602. Read what our valued clients have to say about First Pro Capital and Credit Consulting Experts on our Testimonials page.
~ Allow our team of professionals to assist you!
Preparing Your Personal Credit for Business Financing
There are simple steps to get your personal credit ready for business financing. A large number of small business owners do not realize their personal credit is not quite up to par in order to finance their business. Some small business owners need credit tweaking and some need a full personal credit restoration. Before you obtain more credit inquiries, which will report on your credit report and are unnecessary, please follow these quick steps to prep up your personal credit for small business financing:
Check Your Personal Credit
Check your personal credit at Experian or MyFico, simply order a three merge credit report and review your credit without getting penalized for a credit inquiry. If you see erroneous reportings or if you believe your personal credit needs tweaking or a full credit restoration, call an expert to fix your credit report.
Reduce Balances
If you have a good amount of credit cards, please reduce the balance at least by 30% of what is available on your credit line. For example: You have a $10,000 credit card availability with MasterCard, your current balance is $7,500, reducing your balance to $3,000 will improve your credit scores. If you already made a payment for your credit card and used your card again, you may want to make an additional payment before your commercial loan officer pulls your credit report. You may ask your creditor when their cutoff date is for reporting to the credit bureaus.
Reduce Credit Inquiries
I have seen great damage on credit reports with unauthorized credit inquiries. Each time a credit inquiry is pulled from a financial institution, your credit score drops
Get Referred
It is always best to meet your commercial loan officer in person or get referred to one by your business associate(s), your friend(s) or family member(s). A referral to a commercial loan officer also reduces the risk of identity theft.
For more information on how we can help you with your personal credit or business credit locally in Naples FL, Bonita Springs, Estero FL and Fort Myers, FL please fill out the online contact form about your concerns or give us a call at 239.260.4602. Read what our valued clients have to say about First Pro Capital and Credit Consulting Experts on our Testimonials page. Our consultations are free!
~ Allow our team of professionals to assist you!