At Federal Credit Repair Services, denisemanniello.com , we have been helping a lot of our customers navigate step by step thru the car buying process simply and easily. Call them for a FREE 15 minute phone consultation at 201-661-8330.

While you can negotiate the amount and term length of your loan, you cannot negotiate your FICO score at the dealership. Your FICO score is a representation of your risk to the auto lender. A good FICO score means you’re less risky of a borrower and can be offered a lower interest rate. A bad FICO score can mean you will not qualify for the auto loan. Or it can mean you will be offered a very high interest rate.

At Federal Credit Repair Services we recommend you call the auto lender and ask what APR Rates go with what FICO scores. From there you can asses where you want to be. (that’s the control part)

Feature story on Geezo.

So thanks to Geezeo you’ve mastered your money.  You’re the king (or queen) of cash flow.  You’d like to show Congress how to budget, and think saving should be in the Olympics. There’s just one problem.  Your credit still sucks.  Should be an easy fix for a pro like you, but somehow you just never get started.  Bad credit costs you money and the longer you wait to fix things the more money you lose. Don’t be afraid to consider hiring a credit repair service.  I sat down with credit repair expert, Denise Manniello of Federal Credit Repair Service.  I asked Denise about her services and what people should know about credit repair. 

Is there a difference between credit restoration and credit repair? 

Credit restoration is typically marketed to affluent clients, households with $200,000 or more in yearly income.  While credit repair is marketed to those earning less.  Other than semantics, there is no real difference between credit restoration and credit repair services.  

What are some misconceptions about credit restoration?

That it’s a scam and doesn’t work.   
Fraudulent companies have given the credit repair industry a bad reputation. The Fair Credit Reporting Act and the Credit Repair Organization Act has made fraud less common than it was 7 years ago.  A reputable company will be working to remove negative items from your credit report daily.  Our clients can log in to their files through our website anytime and check out their progress.        

Credit restoration/repair has to be done by an attorney.
It’s more important to find a qualified service provider with credit industry experience. If that person happens to be an attorney, then great.  Never assume that a being a lawyer automatically qualifies someone to fix your credit.  In fact, attorneys are often not subject to the same stringent state laws as credit restoration firms.  So consumers should be aware that they have more options available than just hiring a lawyer.     

Credit repair companies can guarantee results.
No credit repair company can guarantee a specific outcome because they are not the reporting company. In other words, I cannot rewrite your credit report. Credit grantors report information to the bureau directly.  Client results depend on the ability of each bureau to verify the items disputed.  I can only call attention to negative items and push to get them resolved and reported correctly. It is illegal to guarantee certain kinds of results and these guarantees are usually a sign that you’re dealing with someone less than reputable. 

Why or when should a person hire an expert instead of fixing their credit themselves?

The biggest factor working against people trying to repair credit on their own is lack of knowledge. Even if they are aware of the law and their rights, they don’t know how the system works as a whole. We understand why and how the credit bureaus and creditors do what they do, and we act as your representative to get you the results you want.  Having the tools to build your dream house doesn’t mean you’re the best person for the job. The same principle applies with credit repair.

Furthermore, money and credit issues are very emotional for most people. Our affluent clients value our services because we help without judgment or negativity; this isn’t usually the case when people deal with creditors directly.  

Tell me about your typical client. 

I typically work with affluent clients, who are at the $200,000 + household income level.  I work to educate youth through special programs in schools, and I’m seeing more clients who are interested in learning how to get and maintain exceptional credit. 

What’s the tipping point for your clients?  What makes them finally decide to call a professional?

People know they have to take action to solve the problem but want to avoid the pain of dealing with creditors directly.  They also want to save time.  Credit repair takes a tremendous amount of time and effort.  It’s easy for people to get off track because our lives are so full, but professionals are paid to keep working toward results.   Some other reasons people might call me are major life events that can affect their credit like marriage, divorce, or refinancing a home.  There are also clients who want to avoid credit mistakes again so they call me to learn how to budget and better manage their financial lives.  

Negative items on a credit report can cost you thousands. Don’t be afraid to hire a service to get you on the road to sparkling clean credit. Thanks for answering my questions Denise.