New West Credit
Consultants-Process
This program’s goal is to improve your
current credit score(s) to the level needed for your specific loan program,
whether purchasing or refinancing. It’s that simple! Example: Your current mid-score is 540 and you
need a 600 to obtain a 100% purchase loan at a conforming rate. Our goal must be realistic and attainable.
Developed for the Mortgage Industry
New West Credit Consultants processes, methods, timeline and pricing were all developed specifically
for the Mortgage Industry. We are very
proud of the fact that we only work with
clients that have been referred to us, as we do no consumer direct advertising. If our processes were not effective and
results and goals not achieved, we quite simply, would no longer be in
business.
Our methods are Legal
New West follows the laws set forth by the
Federal Trade Commission, which regulates this industry. These laws, such as the Fair Credit Reporting Act, Fair
Debt Collections Practices Act and most recently the Fair & Accurate Credit Transactions Act (12/2003) allow consumers
rights regarding how information is reported about your credit history. If the
Creditors and Credit Bureaus, (also called Credit Reporting Agencies) cannot
meet our Legal Challenges, the negative
information must be removed!
Unfortunately there are companies in this
business which use “illegal” methods. This
places them and possibly yourself in danger of fines and or jail time.
Our Process
We use a very unique, “Three
Prong” process!
Traditional so called “Credit Repair”
companies only remove negative
information. Unfortunately, this doesn’t
always solve the problem. It’s like an overweight and out of shape person who
loses 50 pounds. Losing the weight did benefit them in part, but if that person
can’t run up a flight of stairs, they are not in good physical health! We all know that this person must exercise
and eat healthy foods along with the weight loss to achieve optimum health.
This same basic philosophy holds true with improving your credit.
1.) Analysis
of your Current Credit: This approach
focuses upon the Algorithm or Mathematical Model used to calculate your credit
score. Upon receiving your reports we perform a comprehensive analysis of all
the key factors that are currently affecting your credit score. This includes
your debt to credit ratio, high credit limit, number and types of accounts, aging of accounts and inquiry issues, along with other
factors. We then decide what can be accomplished “proactively” while our
removal processes are going on at the same time. Just as each person is unique,
so is their credit!
2.) Removal
of Negative Information: Most companies require 6 to 12 months
to improve your credit. New West has developed and refined techniques, methods and
unique processes over the past nine years
that have shortened this timeline to 30- 90 days! Let me give you an example of just one of our
unique processes: We use a “multiple challenge per cycle method”
that is totally unique in this industry.
Normally companies challenge/dispute information once and then wait for
the Credit Bureau or Creditor to reply in their allotted 30 day timeframe. New
West has developed a method to legally challenge that information multiple
times within 1 30 day cycle!
3.) Education:
If you stay involved in our process, i.e.: read our literature, monitor
your progress online and feel free to call and ask questions, you will come out
of our process better informed. Most companies simply email you short notes and
will not take the time to explain important elements of your situation.
What makes New West different or
unique from other companies?
1.) Timeline:
Other companies: 6-12 months
New West: 30-90 days! Many times
achieving better results!
2.)
Pricing:
Other companies: $700-$1400 (We’ve heard as high as $2300)
New West: $450 for an Individual
3.)
Voucher System:
Other companies: Do not offer this program.
New West: Your Mortgage Company will portion of what you pay New West from
their fees, when your loan closes!
4.)
Technology:
Most companies: Do not offer online access to
your file.
New West: Simply
go online for instant access to your current results and progress 24/7! (upon beginning the process, you will
be issued a User ID and Password)
5.)
Goal oriented:
Others: Not offered. How many times in life, do you begin a
project without a stated goal? Doing so simply sets one up for failure!
New West: We are one of very few companies in the Nation that sets a specific
goal for your credit improvement. We will not take on a client if we believe,
we can not attain our “goal”, or the expectations are unrealistic!
Why can’t New West use the credit
reports I have?
We must order credit reports directly from the three major Credit
Bureaus (Experian, Equifax & TransUnion). There are over 900 Credit Reporting Agencies in this
Country…all of them are affiliated with the three Major Credit Bureaus. The reports from the “Three Major Bureaus”
are different from the ones your Mortgage company uses, which come from “third
party” affiliates of the Major Bureaus. (Experian,
Equifax and TranUnion reports have specific file, confirmation and report numbers that allow us to
challenge information.
Your Responsibility:
- Sign and fax the Limited
Power of Attorney to the following number: 605-361-9859
- Call us with your checkbook to arrange payment. Check by Phone is the method we utilize. (Payment
options are located on the Limited Power of Attorney)
- At this time, we will take some basic information
over the phone, and order the credit reports. They will arrive to
you in 7 to 10 days. Simply mail the original reports to us! (Most companies charge $30.00 for
ordering reports NWCC, attempts to order all three free.) If we are not
able to order them free of charge they are $9.00 each in most states. ($3.00
in
- When you receive all three initial
reports, please mail the originals
to New West Credit Consultants. If
you do not receive all three reports within 14 days you MUST Call US and we
will advise you of how to proceed.
- Thirty days after New West
receives the “initial” reports you will automatically receive “updates”
from all three Bureaus. Mail the
“Updates” to us as you did the original reports. This is
Imperative to our success and we cannot and will not Warranty our services
without your cooperation.
Client Expectations
New West
Credit Consultants takes a “realistic approach” to Credit Improvement. Below is a very basic table that will allow
you to gauge your expected results.
Basic Credit Scoring
- 720 + A+
- 700-720 A
- 680-700 A-
- 660-680 B+
- 650-660 B
- 640-650 B-
- 620-640 C+
- 600-620 C
- 590-600 C-
- 580-590 D+
- 570-580 D
- 560-570 D-
- 540-560 F+
- 520-540 F
- 500-520 F-
- 500 & below Help!
You can expect to increase One to Two Full Credit Grades! Many clients increase more,
yet this cannot be promised as each credit report improvement varies.