The credit crisis and your current credit situation

What does all of this mean? What is going on?

Well as I have been telling people, you should be more than a little concerned that our government will be bailing everyone out and basically becoming a bank. Not to knock the government, but they can’t balance a checkbook, let alone a loan program for billions of dollars. So what does this mean for you?

Right now, plenty. Stocks are not so hot right now. Unless you have thousands in oil stock, you are kind of sitting on eggshells. Will the market crash? What will happen to my bank? What will happen to my money?

According to persons like Dave Ramsey, you should be hoarding your cash and putting it into a bank right now. Only to draw out that 1.5% interest rate of course. But remember, the FDIC ONLY insures up to $100,000. Many people are withdrawing and are converting their cash to gold. It is currently selling for somewhere around $850 per ounce.

Your credit reports and credit scores have never been more important than now. Several of our customers are hoping to buy homes within the next year. There is no way that they will be able to do this until their credit reports are nearly perfect. Lenders will be requiring a nearly flawless credit application, as well as employment records and a large down payment. How many people right now have this? With gas still hovering around $4.00 per gallon, and homes being foreclosed on in the thousands daily, what can be done?

Without good credit, a chance at a loan, a job, or even college can limit you right now and nearly stop you dead in your tracks. How many people want to let that car repo from 5 years ago prevent them from getting a job in this economy?

Let us take a look at your credit report. If we can help you, we will tell you exactly how and what we can do for you. If we can’t help you, we will flat at tell you, but will give you a chance to explain what can be done to improve in the meantime.

Imperfect credit doesn’t have to be forever. the US will get out of this current slump at some point, and we will bounce back.

Support the Move- Google Tell ROR the honeymoon is over!

Missing Child- Please Help!

Angel Smith is Missing- Please Help Us Find Her!

KCS giving away $300 in gas!

Can you use $300 in gas?!
YES! We are giving away a $300 Gas Gift Certificate! Starting from now until October 31st, we will enter any of the following in for a chance to win our gift certificate:
*Sign up for our Triple Bureau Repair Program
*Refer One person to Kenyon Credit Services (Each and every referral will get you an entry into the contest!)
*Sign up for Chex Systems Removal
*Link to our website from your own!

Drawing will be held on October 31st! We can’t wait to announce the winner November 1st! Good luck!!

Get Removed From Chex Systems

What YOU need to know to get removed from Chex Systems!

What is Chex Systems? To those who don’t already iknow, Chex Systems isa reporting agency much like Transunion or Experian. However, unlike the credit bureaus, they actually report to banks and can prevent you from getting a checking or savings account or a debit card.

How do you get listed on Chex Systems? That remains a little bit of a mystery, but let’s use this example. Let’s say you closed an account with Bob Jones Bank 3 years ago. You go today to open a new account with Sally Jones Bank and they tell you that they are unable to open an account because you are listed on Chex Systems. So you pull a Chex Report to check your own and lo and behold Bob Jones Bank has an “Account activity- fraud” statement posted on your Chex Report. You have no knowledge of what this could be for, and Bob Jones Bank never let you know that there was a problem!

So what can you do? Well Chex Systems is considered a credit reporting agency which means that information with them can be disputed. (It also means that they fall into that 70% rate of having errors in their reports as well!)

This is where Kenyon Credit Services can help. So far, 100% of our clients have had their good names removed from Chex Systems. 100%! This is by using our services and our proven methods of dispute.

How long does it take? This is probably our #1 most asked question. It can take 7-10 business days on average but they legally can take up to 30 days.

Often times they false verify the information and will send you a form letter stating such. Kenyon Credit Services does not tolerate this! We make Chex Systems verify the information and that it is accurate and where they got their information. In most cases, they will delete the information rather than verifying it’s accuracy and giving you another runaround.

We also work directly with the banks reporting the false information to Chex Systems. Often times a polite request will get theitem quickly removed.

Our prices are very reasonable and start at $100.

Visit our website to learn more at http://www.kenyoncreditservices.com to get signed up today! We look forward to working with you.

(And if you are interested in Triple Bureau Credit Repair we offer that as well!)

Credit Scores- What’s in a Score?

We get asked this question ALL the time. How is a credit score determined? Unfortunately the answer to that can’t 100% be answered. While Congress did make the credit bureaus release your credit reports free every year at http://www.annualcreditreport.com they forgot to include making Fair Isaac release exactly HOW they determine a credit score. However, there are some lovely leaks on the Internet, and this list will give you a fair idea of how a credit score is determined:

About 1/3 of the score is your current payment history. Usually this goes over a 2 year period. Both late and on time payments are figured into this number.

The next 1/3 is determined by amount of debt, and the ratio of debt, to credit available. The higher the debt level the lower the score. Even if you have a perfect payment history this can really drag you down.

The next 1/3 is determined by the types of credit you have (multiple types are better) the overall length of credit history, and how many recent credit apps you have.

This is just a basic list but gives you a good idea of what to be looking for when it comes to your credit score!

Is your credit limiting hurting your credit score?

Because of the credit crunch that America is currently facing, many people are facing lower credit scores, even if they aren’t having trouble making their payments. Why you ask? Because of the credit limit on their credit cards.

Let’s say Bob Jones has a credit card with a $10000 limit. He is currently carrying a $4000 balance, which makes it look as if he is at 40% utilization on his credit cards; a good balance to be at. The credit score FICO likes you to stay around 30% to be at “perfect” utilization. Now let’s say that the credit card company considers Bob to be at a high risk because he has a balance. They lower his credit limit to $4500. This now looks as if he is maxed out on his credit cards, which makes his credit score take a huge hit!

This is happening! The best thing to do is to call the company and ask them WHY they have done this. Plead your case to get your credit limit back. If that doesn’t work, pay off the card, close it, and take your business elsewhere to a company that appreciates it.

Have balances, or late payments, and want to get them removed from your credit report? Kenyon Credit Services can help! Visit us online at www.kenyoncreditservices.com to see what we can do to help you today.

And the Winner Is…..

S. Speicher! If this is you, please contact us immediately to get started on your prize! CONGRATULATIONS!!

Our winner for 3 months free of Triple Bureau Credit Repair!!!

Just say NO to debt consolidation!

Many people are finding themselves in a bind right now when it comes to their credit. They are over-extended on loans, and are having a hard time catching up. Debt consolidation companies are seeing huge profits right now.

We, however, do not and would not ever recommend a debt consolidation company. The companies do nothing but take your money and ruin your credit.

Let’s say that Debt Consolidation Inc. (fictious name) has agreed to settle your debt, and you will have a $300 payment for 48 months, and they will pay off your debt. What they don’t tell you is that your first payment goes right into their pocket. What they do is simply call the credit companies and try to get them to negotiate your debt down to about half of what you owe. About 50% of the time they are successful, but YOU CAN DO THIS YOURSELF! You do not need a company to consolidate your debts for you!

From here Debt Consolidation Inc. is now a month behind in payments; remember that first payment went to them?! So you have an established credit report that shows consistent 30 day lates and then some! Rarely do any debt consolidation companies make payments on time. Several go out of business right in the middle of someone’s pay off. Many have been found to have never even made a payment to the creditors!

You can settle your debt yourself. Write your creditors! (But stay off the phone!!!) Let them know that you are struggling, and that you are willing to settle your debt for x amount of money. Many times this will work. They would rather receive a payment than to have you file bankruptcy and then they lose it all.

Then call us! We will make sure your credit reports are reporting correctly, that everything shows up the way that it should, and that you are not being further harmed by paying as agreed!

Visit our website to learn more at http://www.kenyoncreditservices.com

WIN 3 months of FREE CREDIT REPAIR!

That’s right! Kenyon Credit Services is giving away 3 months free of unlimited credit repair. Our $325 package can be yours completely and totally free.
This package includes all three credit bureaus, Chex Systems removal, cease and desist of creditor harassment and 3 months of unlimited disputes.

To sign up for a chance to win, please visit our website at www.kenyoncreditservices.com and fill out our contact us box. Be sure to list “enter me in the contest” in your comments section to be listed, and you must list a valid phone number and email address.

Sign up to win today!!