Clean Up Credit Before Finding New Apartment

Clean Up Credit Before Finding New Apartment

Wayne the Credit Guy discusses the impact an eviction can have on your credit report in this article on


Credit reports do not show records of evictions. According to Wayne Sanford, president of the credit consulting company New Start Financial, “If you are evicted, then it will show up as a collection as any apartment debt a consumer owes, such as cleaning fees or lease breaking.”

My Credit Repair company did nothing… Or DID they?

Credit Repair is a Two-Way Process Between You and Your Credit Repair Specialist

Many people I speak with said they have hired a credit (repair, restoration, management) company before and they did nothing as they claim. “I paid them and nothing happened”.

But then I start asking a few questions and then what comes up is they really didn’t pay attention to instructions and even didn’t pay a few bills on time which depending on the bill dramatically drops their credit score or even had a few new collections pop up on their credit.

Then a few more questions later I find out the company was a “no contract company” with “unlimited disputes” and a monthly fee. There was no follow up, no procedures in place to help the client along.

Most people expect to pay a credit company and everything gets fixed. HOWEVER, what most fail to understand is that your credit report is a mathematical equation. It does not care how old you are, what your race or religion is or how much or little money you make.

Just because you pay a company to fix something doesn’t mean it’s going to get fixed. A credit report must be reviewed an analyzed to determine if the score is able to be increased in the time frame a client is trying to achieve to reach a certain goal.

The main problem is 99% of credit repair sales people (aka- National Sales manager, National Sales Director, Area Manager, Senior Credit Consultant) are commission based. Which brings the problem that they are being told what they want to hear in order to sign them up so they can get paid. While this is totally understandable the issue is their goals are not aligned with the customers goals and time lines.

It is human nature to blame everyone but yourself. People need to understand that correcting credit issues is a two way street. Both parties have responsibilities in the transaction. The customer needs to understand they are paying for a service and needs to know that the company they are hiring have a system in place to help them if they forget part of their responsibilities due to life situations.

While you can’t blame the credit company for you not paying your current bills or new negative information popping up on your credit report. But you can blame them if they do not have a system in place to help you along this credit repair/restoration process, after all is this also not what you’re paying them for?

Understand credit is a fluid concept.. information is typically always being added to it and depending on the type of information being added a score may dramatically jump up (ex: paying down a maxed out credit card) or dramatically drop (current late payment or new collection).

Before hiring a company, take some time to do a little research to make sure they have your best interest at heart. If after every question you are getting pushed to sign up that may indicate they just want your money or they need you money. Either one does not sound like your interests are being placed first.

About Wayne Sanford:

The majority of consumers have no working knowledge of the credit system and the game it plays with their lives. A consumers’ basic credit education has come from late night infomercials, the internet and other sensational media outlets. They have no real idea of how the credit game is played and how they can stack the deck in their favor. Wayne The Credit Guy is the “go-to” advisor willing to put his name and reputation on the line – giving no-nonsense and answers as consumers ante up to the credit game. Roll the dice and learn how the Real World of Credit works and how you can play too. 

Debt Collector B.S.

Great, funny story that I just got from a client a few minutes ago that not only needs to be shared but also to educate consumers to debt collector scare tactics. She called to tell me she got a call from a process serving company asking for her ex-husband’s name (not hers) and said she wanted to know if she would be home to receive the paper serving. She stated do I sound like a man? The answer was no of course so she asked so why would you ask if I would be home to get served papers for someone else that I have no affiliation with for the last 5 years. The lady replied that’s not my job I just make these calls and ask.

She gets a call later in the day from a man who says he is recording the call and has a bit of an attitude with her on a debt that she said the last time she paid on it was in mid-2009. He states the date of last payment was sometime early 2010. Of course the original fee (turns out the card was hers) was approx. $500 but they were trying to collect approx. $1,300.

During her conversation with him he put her on hold 6 times… this is a delay tactic that crappy debt collectors do to make it seem that they are more important than you and make you wait thus making it seem “more official”.

I trained/educated her like I do all my clients to ask what was the charge off date. He kept repeating that he is recording the call for legal purposes to bring to court all of her false responses and then when she mentioned she had an advisor (me) he quickly got very snippy and said well I hope he is an attorney and you can just tell it to the judge this week and then hung up on her.

I told her that is the telltale sign of a BS debt collector. I advised her to contact the original creditor and talk to their collection department (for true peace of mind) and ask them what was the date of charge off and if they sold the account when did they sell it?

Turns out the account was sold in February 2010 to a collection company and while technically she does owe the debt the threats of a lawsuit were illegal and unable to occur as in Texas as in many other states (but different times for different states) is four years. So the debt collector who was the new owner of the account failed to take advantage of the legal remedy they had thus resorted to this type of tactic.

While the statement is obvious that you should always pay your bills, very rarely does anyone ever get credit of some sort with the intention of not paying them. However life happens and if creditors take advantage of every law out there for them, should consumers not do the same?

What Home Buyers Just Don’t Understand About Their Credit

What Home Buyers Just Don’t Understand About Their Credit

Many times towards the end of my credit program I ask a client who was the person that referred them to me if I don’t have access to the information right then. Too many times I am told. “I don’t remember so just tell me where I need to go”.

This is a typical response mostly due to the fact customers do not understand the home buying industry. I always tell them most loan officers or realtors if you are not qualified typically toss you aside and don’t bother sending you somewhere for help as you’re not a qualified buyer. I also tell them while I cannot force you to go back to your Real Estate Agent or Loan Officer what you need to understand is unless they work for a major bank the loan officers are commission only as well as the realtors. Which of course means they do not get paid until they sell a home or a loan.

It’s important to know this as each of them go through a lot on the hopes that you can qualify to purchase as a serious buyer.

They cared enough to send you to someone who can and did help you. The right thing to do is what karma says to do. You show that loyalty back to that professional who cared enough to point you in the direction of someone that can help put you in the position of being a home owner. So now you can go back to them as a qualified buyer and you now have someone to refer friends to as you can say with confidence they cared enough to help you when others did not.

About Wayne The Credit Guy:

Wayne Sanford, also known as “Wayne the Credit Guy“, is the owner of New Start Financial Corporation. With nearly a decade of experience working in the credit industry, Sanford has personally reviewed more than 13,000 consumer credit files for mortgage professionals, investment groups and consumers.

Labeled as the “Company with Credentials“, New Start Financial Corporation works with financial professionals and consumers across the country. Sanford and his staff offer “real world” advice and help layout the best course of action consumers need to follow in order for them to achieve their financial goals.

I’ve tried Credit Repair before and company didn’t help

I’ve tried Credit Repair before and company didn’t help…

I hear this all the time from people and I call it “credit repair scar tissue”. But when I ask them what research they did on the company prior to hiring them I always get “the real estate agent” or “loan officer” told me about them. And that’s great but when I ask did they do any checking of the company out on their own the answer is always no. So when I say to them so you didn’t do any research to see if they operate legally or have any credentials that tells you that they are the company that can help you the answer is none and your surprised you didn’t get any results or the results you were hoping for.

One thing I always tell future clients is go check out my website and credentials and do a little reading up on them and then call me and we can discuss your credit file and what your goals are.

In life you need to be proactive and understand that there are many people out there looking to take advantage of others so you need to do a little research. I recently had a husband ask me if they both needed to hire me to help them. I told him “so you’re asking me if you should pay me for two people instead of one?”. After pointing out to him never ask someone you plan on writing a check to as most people will say yes.

What I asked him back was “do you need both of your incomes in order to purchase the house you want?” If the answer is yes then both of you need to hire me, if the answer is no then only the one with the income getting the loan needs to hire me”. Now the funny part of the story is when he told his wife he was going to ask me she said “of course he’s going to say yes, he wants us both to pay him!”.

I made sure to tell him to relay this story to his wife of what my answer was before he told me what his wife said, lol.

Also, many people who are mad at credit repair companies and complain typically find them on the internet and their “sales person” said it’s not a contract and is month to month so you can cancel whenever you want. Another way to phrase it is “we want to keep charging you as long as we can so we will drag this process out since that’s how we make more money”.

And if they are charging you monthly with “no contract” then they will typically tell you to send in all reports received from the credit bureaus and if you do not get all of them in 45 days then you need to call them and tell them that.

How many people do you think actually remember that part? Then they forget, time gets away from them and then before they realize it several months have gone by and when you call to complain they tell you that you were supposed to have contacted them so it’s basically your fault. However they have billed you for several months even though they have not done any work.

How is that monthly fee that was so much cheaper for you working out now?

Most of these companies know nothing about the home or car buying process and typically cause more problems than they can help you. Unfortunately you don’t find out about this until hundreds or thousands of dollars later.

Bottom line, it’s your money so put a little effort in and check out the company before you hire them.