San Diego, CA - "Thousands of
consumers nationwide are being jilted by bogus credit
score improvement offers in addition to the credit repair
scams, which are still problematic for consumers,
according to The Federal Trade Commission (FTC). Most of
the consumers who experienced negative outcomes were sold
on the concept that the process is fast and easy. Truth
is, rebuilding a credit rating and improving credit scores
requires both time and patience," said Paul S. Richard, a
Registered Financial Consultant (RFC), who is also the
executive director of the award winning, nonprofit
Institute of Consumer Financial Education (ICFE), based in
San Diego, CA. The ICFE helps consumers improve spending
habits, increase savings accumulation and use credit more
wisely, in addition to advocating the do-it-yourself
approach to fixing credit file mistakes and increasing
More Americans families and individuals have accumulated
high interest debt than ever before, according to recent
studies. Subsequently, some have done significant damage
to their creditworthiness and credit scores. In an
effort to turn things around quickly, unscrupulous firms
using questionable advertising, are preying on people's
false hope, that, for a fee, they can purchase a good
credit rating and an improved score. Wrong. A bad credit
rating cannot be quickly fixed and anyone who promises
they can, is trying to scam your money.
Four things primarily adversely affect your credit rating
and score. They are: first and most important, defaulted
debts - either debts unpaid or sent to a collection
agency, including credit cards, auto loans, student loans,
mortgages and medical bills. Second, is a slow payment
history. Third, if all indebtedness is on credit cards.
And fourth, being maxed out or almost maxed out on the
credit lines available.
A good way to correct a bad credit rating is to first
reverse the behavior that resulted in a bad credit rating
and then be patient. Paying all bills on time and keeping
debt levels low, a credit record and score will gradually
improve. It's unlikely all the debt came about overnight
and do not expect a credit rating or score will be
Begin the change by making the monthly payments so that
they reach the creditor a few days ahead of the due date.
Every time a payment is just a day or two late, it may
reported to the credit bureaus and becomes a part of your
credit record. Lastly, don't take on any new debt because,
if overextended, this will be another strike on the credit
report and will also lower a credit score.
For consumers who need assistance, the ICFE's
"Do-It-Yourself File Correction Guide," contains the
latest amendments to the rules by the FTC, which oversees
the Fair and Accurate Credit Transactions Act of 2003 (FACTA).
Included in the ICFE's Guide is a list of consumer credit
rights, credit file request forms, sample letters to
smooth communications with credit reporting agencies and a
special bonus section called "Help with the credit
puzzle." There is complete listings of major credit
reporting agencies and governmental agencies that help
The cost is still only $10 plus $2 postage anywhere in the
USA. To order, send $12 to: ICFE Credit File Correction
Guide, PO Box 34070 San Diego, CA 92163 Or please call
1-619-239-1401 OR visit the ICFE on-line at:
About the ICFE:
The Institute of Consumer Financial Education (ICFE) was founded in 1982 by the late Loren Dunton (creator of the Certified Financial Planner (CFP) designation). The ICFE is dedicated to helping consumers of all ages to improve their spending, increase savings and use credit more wisely.
The ICFE is an award winning, nonprofit, consumer education organization that has helped millions of people through its education programs and Resources. It publishes the Do-It-Yourself Credit File correction Guide, which is updated annually. The ICFE has distributed over one million Credit/Debit Card Warning Labels and Credit/Debit Card Sleeves world wide.
The ICFE became an official partner with the Department of Defense/Financial Readiness Campaign in June of 2004.The ICFE was an active partner in the California Student Debt Resource Awareness Project (CASDRAP) which resulted in a new web site: (studentdebthelp.org). CASDRAP disbanded in 2010, shortly after the web site project was completed. In 2011 the ICFE assumed the single sponsorship of the (studentdebthelp.org) web site and is now responsible for its content and operation.
The ICFE is also an on-line help for consumers who spend too much. ICFE's spending help was featured in PARADE Magazine in the Intelligence Report section. The money helps and tips are from the ICFE's Money Instruction Book, our course in personal finance.
Visit the ICFE's other web sites at: www.financial-education-icfe.org and studentdebthelp.org. Both sites helps consumers and students with mending spending, learning about the proper use of credit, budget and expense guidelines, how to set up and implement a spending-plan and also how to access financial education courses and how to teach children about money. Other ICFE services include: Ask Mr. G, a free eNews, and an online resource center for students, parents and educators, plus financial education learning tools and a book store.
About the ICFE:
The Institute of Consumer Financial Education (ICFE), founded in 1982 by the
late Loren Dunton (creator of the 'certified financial planner' (CFP)
designation) and it is dedicated to helping consumers of all ages to improve
their spending, increase savings and use credit more wisely. The ICFE trains and
certifies Personal Finance Instructors for its own curriculum. It also trains
and certifies Credit Report Reviewers and Identity Theft Prevention Specialists.
The ICFE is an award winning, nonprofit, consumer education organization that
has helped millions of people through its education programs and Resources. It
publishes the Do-It-Yourself Credit File correction Guide, now in its 16th
printing and has distributed over one million 'Credit/Debit Card Warning Labels'
and 'Credit/Debit Card Sleeves' world wide.
The ICFE became an official partner with the Department of Defense/Financial
Readiness Campaign in June of 2004.
The ICFE is also a partner in the national Jump$tart Coalition for Financial
Literacy and the California Jump$tart chapter. The ICFE staff is also active
with San Diego Saves, an offshoot of America Saves, and the California Student
Debt Resource Awareness Project (CASDRAP) (studentdebthelp.org).
The ICFE's on-line help for consumers who spend too much was featured in PARADE
Magazine in the Intelligence Report section. The money helps and tips are from
'The Money Instruction Book,' a course in personal finance, positioned to become
among the premier programs in the new bankruptcy and debtor education
The ICFE Web site at:
www.financial-education-icfe.org helps consumers with mending spending, learning about
the proper use of credit, budget and expense guidelines, how to set up and
implement a spending-plan and also how to access financial education courses and
videos and how to teach children about money. Other ICFE services include a free
eNews, and an online resource center of financial education learning
tools, including videos, books, software and personal finance courses.