Credit Repair...Understanding the game

Credit repair is like a game of cat and mouse. Our job as credit repair experts is to know how, where, and when to set up, and spring the traps.

Credit Reporting Agencies, Collection Agencies, Banks and Credit Card companies get sued 1000's of time per year.

The majority of the lawsuits filed are born out of incompetenace, laziness, and neglect. The collection agencies, banks, credit reporting agencies and credit card companies consistently report inaccurate, unverifiable and outdated data. Reporting of inaccurate, outdated and unverifiable data is a violation of several laws and acts however, as they assume the public is to ignorant to know the law and their rights, and that there's no real agency "watch dogging" their actions, they simply do what they want and / or don't bother.

The FCRA (Fair Credit Reporting Act), FACTA (Fair and Accurate Credit Transactions Act), FCBA (Fair Credit Billing Act), HIPPA (Health Insurance Portability & Accountability Act) all have consumer protections and special provisions that deal specifically with collection agencies, credit reporting agencies, original creditors and / or medical providers.

Understanding which of these numerous, complex laws apply to which situation is EXTREMELY important BUT also very confusing.

For example: If you were to send a letter to a collection agency stating that they have violated the "XYZ" consumer protection act and the must comply within "X" amount days or a formal complaint will be filed using an incorrect statute your dispute will be useless, and a waste of time, energy, and resources. This is a common error made by many so called "credit repair" professionals .. It's a sad reality but many of these credit repair, loan modification, debt consolidation companies hire inexperienced, unqualified sales people (who work for much less than a credentialed professional) to "sell" and work their files ..Like the credit agencies they pursue, they too are often lazy, incompetent, and motivated by profits ..

GCS, Inc., is staffed by only credentialed professionals, and makes it a point to understand the consumer protection sections of each of the aforementioned laws, and apply them effectively to maximize the benefits our clients seek, and need .

Don't misunderstand, mentioning laws and quoting statutes is very effective however, it can also be equally detrimental if not done / presented correctly. Obviously misquoting the law makes you look like an incompetent idiot, and sending form style letters is impersonal / unprofessional. Another major mistake constantly made by self professed credit "experts"..Mistakes that waste their clients time, and money. Both of which are unacceptable.

Another little know fact is that it cost’s the credit reporting bureaus money to have employee’s spend countless hours reviewing / addressing dispute letters ..The “Big 3” DOES NOT like the added expense's dispute letters bring, and do whatever they can to cut corners / minimize the time spent addressing them! The beauty of this is that their weakness now becomes our strentgh!

As professional credit advisors / credit repair experts, we understand the complexities of the credit dispute process and how use the credit reporting agencies incompetence to benefit our clients.

I hope you found information in this article useful. I will be posting more in the future that contain equally helpful information on a variety of topics related to credit repair, loan modification, debt consolidation, debt management.

Thank you

Edward J.Benko, Owner / CEO

Genesis Credit Solutions, Inc.

License # MB100019240

800-364-1939 Toll Free Voice / Fax

www.GenesisCreditSolutions.net

The President Without A Country. By Pat Boone

I recieved this in an email today.... I thought it was worth sharing - Of course you're free to make your own decisions / judgments - In a FREE America, this is your God Given right .. In a muslim country, you would not have such liberties

The President Without A CountryBy Pat Boone

"We're no longer a Christian nation." - President barack obama, June 2009" America has been arrogant." - President barack obama"After 9/11, America didn't always live up to her ideals."- President barack obama"You might say that America is a Muslim nation."- President barack obama, Egypt 2009

Thinking about these and other statements made by the man who wears the title of president. I keep wondering what country he believes he's president of.

In one of my very favorite stories, Edward Everett Hale's "The Man without a Country," a young Army lieutenant named Philip Nolan stands condemned for treason during the Revolutionary War, having come under the influence of Aaron Burr. When the judge asks him if he wishes to say anything before sentence is passed, young Nolan defiantly exclaims, "Damn the United States ! I wish I might never hear of the United States again!"

The stunned silence in the courtroom is palpable, pulsing. After a long pause, the judge soberly says to the angry lieutenant: "You have just pronounced your own sentence. You will never hear of the United States again.. I sentence you to spend the rest of your life at sea, on one or another of this country's naval vessels - under strict orders that no one will ever speak to you again about the country you have just cursed."

And so it was. Philip Nolan was taken away and spent the next 40 years at sea, never hearing anything but an occasional slip of the tongue about America. The last few pages of the story, recounting Nolan's dying hours in his small stateroom - now turned into a shrine to the country he fore swore - never fail to bring me to tears. And I find my own love for this dream, this miracle called America , refreshed and renewed. I know how blessed and unique we are.

Reading and hearing the audacious, shocking statements of the man who was recently elected our president - a young black man living the impossible dream of millions of young Americans, past and present, black and white - I want to ask him, "Just what country do you think you're president of?"

You surely can't be referring to the United States of America, can you? America is emphatically a Christian nation, and has been from its inception! Seventy percent of her citizens identify themselves as Christian. The Declaration of Independence and our Constitution were framed, written and ratified by Christians. It's because this was, and is, a nation built on and guided by Judeo-Christian biblical principles that you, sir, have had the inestimable privilege of being elected her president.

You studied law at Harvard, didn't you, sir? You taught constitutional law in Chicago? Did you not ever read the statement of John Jay, the first Chief Justice of the Supreme Court and an author of the landmark "Federalist Papers": " Providence has given to our people the choice of their rulers - and it is the duty, as well as the privilege and interest of our Christian nation - to select and prefer Christians for their rulers"?

In your studies, you surely must have read the decision of the Supreme Court in 1892: "Our lives and our institutions must necessarily be based upon and embody the teachings of the Redeemer of mankind. It is impossible that it should be otherwise; and in this sense and to this extent our civilization and our institutions are emphatically Christian."

Did your professors have you skip over all the high-court decisions right up till the mid 1900's that echoed and reinforced these views and intentions? Did you pick up the history of American jurisprudence only in 1947, when for the first time a phrase coined by Thomas Jefferson about a "wall of separation between church and state" was used to deny some specific religious expression - contrary to Jefferson' s intent with that statement?

Or, wait a minute . were your ideas about America's Christianity formed during the 20 years you were a member of the Trinity United Church of Christ under your pastor, Jeremiah Wright? Is that where you got the idea that " America is no longer a Christian nation"?
Is this where you, even as you came to call yourself a Christian, formed the belief that "America has been arrogant"?

Even if that's the understandable explanation of your damning of your country and accusing the whole nation (not just a few military officials trying their best to keep more Americans from being murdered by jihadists) of "not always living up to her ideals," how did you come up with the ridiculous, alarming notion that we might be "considered a Muslim nation"?

Is it because there are some 2 million or more Muslims living here, trying to be good Americans? Out of a current population of over 300 million, 70 percent of whom are Christians? Does that make us, by any rational definition, a "Muslim nation"?

Why are we not, then, a "Chinese nation"? A "Korean nation"? Even a "Vietnamese nation"? There are even more of these distinct groups in America than Muslims. And if the distinction you're trying to make is a religious one, why is America not "a Jewish nation"? There's actually a case to be made for the latter, because our Constitution - and the success of our Revolution and founding - owe a deep debt to our Jewish brothers.

Have you stopped to think what an actual Muslim America would be like? Have you ever really spent much time in Iran? Even in Egypt? You, having been instructed in Islam as a kid at a Muslim school in Indonesia and saying you still love the call to evening prayers, can surely picture our nation founded on the Quran, not the Judeo-Christian Bible, and living under Shariah law. Can't you? You do recall Muhammad's directives [Surah 9:5,73] to "break the cross" and "kill the infidel"?

It seems increasingly and painfully obvious that you are more influenced by your upbringing and questionable education than most suspected.. If you consider yourself the president of a people who are "no longer Christian," who have "failed to live up to our ideals," who "have been arrogant," and might even be "considered Muslim" - you are president of a country most Americans don't recognize.

Could it be you are a president without a, and should not have a Country?


Makes ya wonder eh?

ObamaCare and New, Excessive Tax's

If you plan to sell your home do it before 2013..... and get ready for the new health care tax in 2011.
Here is something everyone will be able to say thankyou to “ObamaCare” and it’s “architects.”

Please read this unbelievable article, and remember it when you go to vote on Nov. 2, 2010Do you know that Under the new health care bill all real estate transactions will be subject to a 3.8% Sales Tax? The bulk of these new taxes don't kick in until 2013 (presumably after Obamas re-election).

Example: If you sell your $400,000 home, there will be a $15,200 tax!

This bill is essentially “screws” the retiring generation who often downsize their homes after retirement with the proceeds going to benefit those in America who’ve chosen NOT to work and / or subsidize the ever increasing illegal alien population …

These are FACTS my friends not “urban legends” and / or political mud slinging…How this for “Hope & Change?” Isn’t it nice to know that after you’ve worked hard all your life to achieve what was once known as the “American Dream” you’ll be excessively taxed, and that your hard earned tax dollars will simply be handed out to those who don’t care to contribute or enter our Country lawfully?

If that’s not enough to make your blood boil, here’s more good news…. You can verify this by going to verify this, go to http://www.thomas.gov/ and entering "HR 3590" in the search box,

2011 W-2 Tax Forms and Obamacare

Title IX Revenue Provisions-Subtitle A: Revenue Offset "(Sec.9002). Requires employers to include in the W-2 form of each employee the aggregate cost of applicable employer-sponsored group health coverage that is excludable from the employee's gross income (excluding the value of contributions to flexible spending arrangements)."Starting in 2011-next year-the W-2 tax form sent by your employer will be increased to show the value of whatever health insurance you are provided. It doesn't matter if you're retired. Your gross income WILL go up by the amount of insurance your employer paid for. So you'll be required to pay taxes on a larger sum of money than you actually received.

Take the tax form you just finished for 2009 and see what $15,000.00 or $20,000.00 additional gross income does to your tax debt. That's what you'll pay next year. For many it puts you into a much higher bracket. This is how the government is going to buy insurance for fifteen (15) percent that don't have insurance and it's only part of the tax increases, but it's not really a "tax increase" as such, it is a redefinition of your taxable income.Also, go to Kiplinger's and read about the thirteen (13) tax changes for 2010 that could affect you.

Why am I writing / posting this? Because hard working, tax paying Americans have an absolute right to know the truth, and also because an election is coming in November.

I’m not trying to sway political opinion and / or endorse / support any political party but I am hoping to bring awareness to very real issues that will dramatically effect all tax paying Americans and bring potentially devastating financial consequences!

Please vote intelligently, do your homework, dig deeper than the political ad’s on TV and / or the constant automated campaign phone calls you’ll be receiving. So much for the “do not call list” eh?

Be careful! Adjust your tax withholding, or increase your savings, so that you aren't surprised and put in a jam when your federal income taxes are due on April 15, 2012.


Edward J.Benko, Owner / CEO
Genesis Credit Solutions, Inc.
License # MB100019240
440-510-8288Office
720-334-2994 Cell
800-364-1939 Toll Free Voice / Fax
www.GenesisCreditSolutions.net
http://www.noscamshere.com


"The democracy will cease to exist when you take away from those who are willing to work and give to those who would not." - Thomas Jefferson -

Credit Repair / Loan Modification Simpliified

America you DO NOT need to spend thousands of dollars and / or hire unknown, unseen, out of State attorneys / "law centers" to help you fix your bad credit or save your home from foreclosure!

Of course these are very valuable professional services but honestly, how can anyone sleep at night knowing they've over charged someone already in financial hardship? Predators ..Nothing more.

I've published a great deal of useful information on my websites

www.GenesisCreditSolutions.net
and
www.NoScamsHere.com

Before hiring/paying anyone, visit my websites!!

Ed

Heart Broken

I've travelled back east this month and visited my old home town ..

I drove past my old house that I'd sold about 10 years ago .. a big, beautiful turn of the century home in an exclusive neighborhood on the coast of Lake Erie - I loved that old house, and loved living in it ...

To my astonishment, I found the house standing vacant, and in a state of bad disrepair ..The lawn was over grown, and looked like it's stood empty for quite some time ... Seeing this broke my heart, and almost brought tears to my eyes...

I put years of my life, and a lot of love into restoring that beautiful old home .. It was a grand place with beautiful wood work, wall sized fire places, antique fixtures, etc.. I can't comprehend how anyone could not / would not care about it..

The old place sits about 90 feet off the road on 2.5 acres. It's surrounded by large old trees, and a once beautifully landscaped lawn which my old dog "Wolf" loved to play on ..

Wolf was a "rescue" and had a rough life before coming to me.. She was an amazing animal. Highly intelligent, fearless, fiercely loyal, and an exceptional guard dog. The old house was her home, and I know she was happy there. When she died, I spread her ash's over the grounds so she'd always be, and have her home ...

As I stood in the driveway looking at what time, and neglect had done to our beautiful old home, I suddenly sensed Wolf's presence..Maybe it was the light or my mind playing tricks but, I could swear I saw her running in the yard, and standing in the place where the driveway gates once stood ..That was Wolf's spot - She'd sit for hours by / guarding those old gates. Knowing she's still "on patrol" would not surprise me -

Maybe it was the many happy memories that created Wolf's presence or maybe her spirit is still on guard ..I don't know. Either way, it felt good to "see" her again.

I walked to where the old gates stood, and called her name .. I told her I loved her, and thanked her for the many years of love, companionship, and loyalty she'd given. I told her she'd done her job well but that it was time for her to go to Heaven, and guard God's Gates..

(I know this all sounds "crazy" but if you knew that old house, you'd know that other spirits occupied it also .. I too was a skeptic but after living there, I became a firm believer)

I drove away with a piece of my heart left behind...There's an old saying of "you can't go home again" and perhaps this is true in the physical World but in my heart, and minds eye, my old home is still beautiful, and a place filled with many happy, warm memories..This is the memory I prefer / choose to keep.

Farewell Wolfie girl...Rest in Peace -We will meet again on the Rainbow Bridge

Loan Modification HAMP -v- Conventional

Good morning

Today I'd like to clarify the differences between the Governments HAMP program, and what I consider "old fashioned" common sense banking AKA conventional modification

The other day, I had a client accuse me of "ripping him off" because his lender told him that all the work I'd done for him. they would have done for "free" ...

In the loose sense, yes..lenders will do this "free" of cost (although it's costing tax payers billions) however, it's not an "automatic" nor an "entitlement" ..The Federal programs still require a tremendous amount of work - Preparing the numbers (expense's versus debts) hardship letters, etc,etc.....it can quickly become very, very complicated and overwhelming for the average person ... Such was the case in the above mentioned client's case - Very complex.

This particular client went through a divorce, and to save the house from being taken / given to his ex wife, he convinced his elderly, retired Father to refinance the house into his name but leave (the Son) him on title only .. The Father did so thinking he was helping his son ..

Long story short, they found an out of State mortgage broker who threw them both under the bus in one of the worst loans I've ever seen ... NINA (no income / no asset verification) Interest payment only, adjustable rate with a payment (interest only mind you) totaling more than the Father makes per month in his retirement / social security ..To make matters worse (if that was even possible) this mortgage broker even tacked on a home equity line of credit!!

So now we have an 80 year old retired man living on a fixed income of less than $3k per month owning two homes with combined mortgage payments totalling over $5000 per month ..The Son is self employed which makes verifying his income a nightmare .. Are you starting to see the challenges?

The Son lives in the house but is not on the mortgage - Unbeknownst to me, the Father did not actually occupy the property, and lived in another house with his wife. Basically, the Son lied to me about this very important detail - Under HAMP, this scenario is an immediate dis qualifier as the homeowner MUST occupy the property - Period - No exceptions

The Father / Son hired me 6 months ago - The home was in serious default and was scheduled to be sold at auction within less than 3 weeks from the time we all first met ..The clock was ticking / and ticking fast - After meeting with my clients and gathering their paperwork, I returned to my office, immediately faxed their authorization form to their lender and began conversation with them -

Within less than 24 hours (and after sorting out financials / details, etc) I was able to get the lender to approve a 3 month trial program under HAMP.. Another minor miracle as using the Son's income to qualify was "iffy" but the lender allowed it - This immediately stopped the foreclosure sale, and "bought" (figure of speech) my client 3 more months to stay in their home.

During this time, I contacted our State's Attorney Generals office to pursue predatory lending charges against the broker who put this loan together, and threw my client's Father under the bus .. Rarely do I ring the predatory lending alarm but this loan was SO jacked up, it demanded an investigation ... The AG's office agreed, and opened a case - This postponed any foreclosure even longer -

While the AG's office was investigating, the lender was still working on the trial modification ..It was denied after the trial payment plan due to the lender learning the Father did not actually occupy the property - Another "surprise" for me -

The AG's office concluded their investigation and basically told my client's to hire private legal counsel blah blah blah ...Still uncertain why that investigation fell flat - I can only assume the lender has deep pockets, and very good lawyers ..

So..now I have a HAMP denial, and the AG's office dropping the ball ... The lender immediately reinstated the foreclosure sale date and scheduled it for two weeks into the future! Again, I'm on the phone with the lender, and their attorney's trying to put the fires out, and I did - The lender / their attorneys agreed to re-open the case, and re review it for a "conventional" modification - This review is still pending by the way -

The Father had had enough, and simply wanted out - As he's the only one on the mortgage, he's the only one that will feel the full impact of the foreclosure .. He asked me to put him in touch with a good Realtor to short sale the home, and I did ... This Realtor specializes in short sales and is very knowledgeable and reputable ..The Son NEVER followed up with the Realtor and left his Dad hanging ...I contacted the Father, and gave him the Realtors direct number & strongly suggested he bypass his Son, and meet with the Realtor himself ..Apparently the Son talked him out of it as my colleague told me no meeting has ever been arranged ...

The point of all of this is to demonstrate how much work actually goes into securing a HAMP modification ..Of course not all scenario's are this dramatic / complicated but, this one was a real roller coaster ride!

I also want to mention that all this work was done WITHOUT my being paid in full - I mobilized a small army of professionals to assist this client, and did so on the honor system .. I still haven't been paid for my work & doubt I ever will be - This client promised to pay me over one month ago ..Never happened - Phone calls went unanswered - voicemail messages ignored / un-returned - Excuses being made by the Parents etc,etc..

Now this guy's accusing me of "ripping him off" ...How convenient eh? What better way to get out of paying for services rendered than to cry "foul" and "victim" ..I've seen it many times before - It's sad - Unfortunately, there's no agency / organization I can go to and complain about being burned - I just have to suck it up

The point I'm driving at here is this ....

Although lenders will do this for "free" it's not as simple as just picking up the phone and asking nicely ...There is still a great deal of ground / preparation work that must be done, and even more monitoring work "babysitting" the lenders to insure they've recieved all the paperwork, understand what they are reading, and that nothing gets "lost" or falls through the cracks .. It seems like "babysitting" the banks has become the most challenging part of our work these days!

HAMP is not "guaranteed" nor is it an "entitlement" .. It's a Federal program with very complex guidelines / restrictions ..it is not a "freebie" or a "one size fits all" program - Not everyone qualifies equally -

Another point is this ...If you choose to hire a professional to do the work for you - Pay them! Just because the lender's assist for "free" does not mean professionals work for free! If you want it "free" ..do all the work yourself - I'm sure you'll quickly discover how difficult it really is!

Yes...there are scam artists preying on America's misfortunes, and consumers must be very careful / cautious HOWEVER, this applies equally to "us" - We too have been burned many times, and need to be cautious -

I am an honest businessman, and a credentialed, qualified, experienced professional - I do not / will not mislead any client into thinking our work is "easy" - I do not make empty promises or offer false hopes. I do all I can to make sure my clients fully understand what we are going into, and that we go into it "eyes wide open" -

Like any other professional, I'm entitled to be paid for my time, experise, and services .. No one works for "free" do they? Do you? Of course not ...Why would anyone expect us to?

What I'm saying here is that if you choose to hire representation, you should fully expect to pay them for their services!

Credit Repair / Loan Modification Simplified

I've published some information on how to avoid spending hundreds / thousands of dollars on hiring professionals ..

You can find this information at www.NoScamsHere.com

Ed

Excuse me?

People amaze me ...

Guy hires me 6 months ago to save his home from foreclosure with less than 30 days left on the auction date clock ..

I immediately run all the numbers, prepare the paperwork, submit it / contact his lender, and get him qualified for the HAMP program which automatically stops the foreclosue sale for 3 + months.

I then contact the Attorney Generals office to file a predatory lending complaint against this clients mortgage company - AG's office opens an investigation stalling any potential foreclosure for another few months ...

Meanwhile, the lender denies the client for HAMP after the (very common) after the 3 month trial ..Foreclosure sale date is reactivated and scheduled for auction in two weeks..

Again, I get lenders attorneys on the phone and get the modification case re-opened / under review for a conventional program ...Sale date's postponed until November ..

This client owes me money for my work and has been ignoring me for over a month ..

Today I get a text msg from him stating I ripped him off because this was something he could have done blah blah blah ... Right - I do all this work and when it's time to pay me, I'm the crook - Uh huh

Why is it thee is no agency to protect honest businessmen from consumers that scam us??