New West Credit Consultants-Process


 

 

 Credit Booster Program

     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:

 

  1. Sign and fax the Limited Power of Attorney to the following number:       605-361-9859
  2. 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)
  3. 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 Minnesota). 
  4. 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. 
  5. 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.