Terms – Disclaimer

Please DO read this page PRIOR to subscribing to CreditFactors – this is not unimportant and hard to understand legalese, but an explanation of what you get and what you do NOT get as CreditFactors member.

This page sure got longer than planned, but look at this way:

If it’s too difficult or it takes too long to read this page, you might as well save your hard earned money. Credit work requires a lot of time, you have to read the reports as well as my postings and reference materials – there is nothing instant or magical about CreditFactors.

At CreditFactors I explain how to analyze your FICO scores factors and credit reports, what to look for, what and how to dispute and how to deal with collections and lawsuits, but I don’t have the ability to magically transfer my knowledge to you instantly. You’ll have to take the time to read at the knowledge base and to post your questions.

  • CreditFactors is NOT credit repair.

CreditFactors is a “members only” resource site with a subscriber forum to get help with the many very complex issues.

Don’t sign up with credit repair outfits like The Lexington Law Firm. You take a huge risk when you sign up with any credit repair outfit.  They hire unqualified clerks to do the actual “credit repair” work, sending frivolous moronic disputes to the credit bureaus, creditors and collectors.  Your FICO scores may be PERMANENTLY lowered through the deletion of derogatory accounts that actually increase your FICO scores:

TU FICO score with charge-off — 664, AFTER deletion of chargeoff: score went DOWN 18 points!

You may even have positive tradelines deleted and sometimes they will NOT stop sending frivolous disputes to the credit bureaus after you cancel.

Unfortunately, I also don’t know of any competent credit consultants to refer you to. Due to the tremendous amount of time involved in reviewing and analyzing the FICO scores (5 to 15 hours just for the initial account setup, credit analysis and disputes, depending on the number of accounts), it is not surprising that those services are not available.

According to Fair Isaac, its FICO scores are utilized in over 90% of credit decisions, most auto and home owner insurance policies and even utility accounts and rental applications are rated according to your credit scores. The damages due to low FICO scores can easily add up to thousands of dollars every year.

2/26/07: Open Letter to Fair Isaac Regarding its Addition of FICTITIOUS Late Payments on Equifax Credit Reports

To date, I have not received a response, nor did myFICO (formerly Fair Isaac) fix the scoring software.

YOU need to decide whether it’s worth the effort to learn about credit and FICO scoring.

Many millions of judgment-proof people would be better off if they just stopped paying their unsecured debts.

  • Credit reporting practices, bureau dispute procedures, report formats and collection practices change continually.

I continually update CreditFactors to keep the information current and to add new FICO scoring bugs and issues.

  • I answer subscriber questions at the CreditFactors member forum as time permits.

If you post a screenshot of a problem account from your myFICO or credit bureau report or you copy/paste the complete reporting of the account along with a brief summary of your issues, I can review it for potential incorrect reporting and make recommendations for disputes.

However, this is NOT personal consultation and I will answer as time permits – don’t always expect 24 hr turnaround.  A complicated question can easily require an hour or longer to answer. Please try to be concise.

  • NOTHING about credit and FICO scoring is simple and easy.

The FTC is intentionally misleading consumers, claiming that everybody can easily achieve credit report corrections.

Nothing could be further from the truth.

Just about all my clients have several reasons to sue credit bureaus, creditors and collectors because the reporting is not corrected after the disputes.

After years of one-on-one credit consulting, I know that MOST people can NOT identify the FICO score lowering incorrect data.

Sometimes OLD charge-offs and collections are RE-AGED to be rated as CURRENT delinquencies, devastating the FICO scores. Sometimes the correction of just one date results in a 50 or 80 point FICO score increase.

I try to explain in detail many different specific problems, I post screenshots of the reported accounts and I explain the calculations for the major score factors such as the extremely important Balance/Limit Ratio.

The content at CreditFactors will be overwhelming for many subscribers new to credit reporting and FICO scoring. It’s complicated. While I also offer personal services, I do encourage everybody to at least have a look at CreditFactors prior to ordering personal services.

  • People with recent large valid debts and insufficient funds to settle those accounts may get sued and end up with judgments against them as a result of credit repair efforts.

When creditors and collectors get your disputes, they might decide that it’s finally worth their while to increase their collection efforts or even sue you. If you owe big bucks and the statute of limitations has not expired, you need to carefully consider your actions.

  • Everybody’s situation is different and many factors OTHER than credit determine which approach YOU should take.

Your goals and time frame are most important considerations and your resources such as cash or friends/family willing to help determine what YOU should do.

  • Refund Policy

The CreditFactors site may not always be available due to “acts of God”, server problems, etc. If the site is unavailable for more than a day, your membership will be extended for the downtime. Should the site not be available for more than two weeks, prorated refunds will be issued within 10 days from your e-mailed request.

  • NOTHING posted at CreditFactors is legal advice.

While legal issues are discussed and I have sued credit bureaus, creditors and collectors since 2001 — I am NOT an attorney!

I provide many litigation resources at the CreditFactors litigation knowledgebase, including white papers on credit and collection issues, case law, attorney filings, etc.  I can help you find YOUR court’s rules, relevant cases and of course I can give you CREDIT advice regarding incorrectly reported accounts and the damages to FICO scores.

Wells Fargo: SETTLED for $1,000 + deletion of UNAUTHORIZED inquiry

Hundreds of readers received their checks since I posted this settlement.  However, as the creditors received more demand letters, most decided to STOP writing checks unless they were sued.  We are in a dynamic world, every action causes a reaction.

If you need legal advice, please consult with a competent attorney specializing in consumer law and licensed in your state.

  • Redistribution of CreditFactors content – including subscriber postings – is prohibited without written authorization by the author.
  • While credit bureaus, creditors, collectors and their employees or attorneys may subscribe to CreditFactors, utilization of any postings in litigation is prohibited.
  • If you redistribute any part of CreditFactors content without written authorization, you will be liable to the author AND to CreditFactors for liquidated damages of $100.00 per word or actual damages, whichever is greater.

These restrictions are extremely important, as subscribers obviously would not want to post about their litigation at the CreditFactors forum if it could be used against them in court.  I also post thoughts about my litigation that I do not post on my public sites while the litigation is still pending.

  • You agree that any legal action or proceeding between CreditFactors.com or Christine Baker and you for any purpose concerning this site or the parties’ obligations hereunder must be brought exclusively in the U.S. District Court for the Prescott District of Arizona or state court of competent jurisdiction sitting in the County of Mohave, State of Arizona.

Fortunately, there has not been any litigation related to CreditFactors or my services.

Please check the CreditFactors FAQ for more info and don’t miss my free resources such as the CreditFactors blog and Liars and Cheats EXPOSED!


Christine Baker

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