Tobin & Clark
Consumer Credit Advocates
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What is credit repair?
Credit repair is a simple concept (fix bad credit) this is great in theory but in practice it is much more difficult. First thing is that the credit bureaus ignore the very laws that regulate them. Next is that the entire system is built to prevent you from improving your credit score, the vary companies that report bad credit are the ones that directly benefit from it as in higher interest rates. Next there are so many con men and scammers out there advertising that they can raise your score by X amount or perform other seemly impossible tasks. The truth of the matter is that this is a process and part of this process is paying people back even if it is a great deal less than what they want you are going to have to give them something.
What we do
Tobin & Clark Inc. does not look at credit repair as what we do is where we start but to be clear we are just cleaning up wrong information on your report. Next we move into negotiation of the debts during this process we are trying to negotiate a lesser amount and removal of all negative postings on that trade line. If this can not be achieved we may recommend nonpayment of the bill. In addition to negotiation at this time we are hitting the creditors, the collection agencies and the credit bureaus with request to validate the debts
In short you are going to pay 20 to 50% more for auto insurance 20 to 40% more for home owners insurance. If you are renting you will have to put down 1st and last months rent plus up to equivalent of 2 months rent as a deposit. An automobile will cost anywhere from 20 to 100% more and the interest rate that you are charged can be 10 to 15% more than someone with stellar credit. Cell phone companies will require you to put a deposit down on a contract of up to 500 dollars for just a minor mark on your bureau. Utility companies will require deposits when you open accounts each company charging from 50 to 500 dollars for something that a person who has a high score would not be required to do. This list is endless, from car rental availability to being able to purchase items online to staying at a hotel that requires a credit card not a debit card.
Debt negotiation
1) What we do
Tobin & Clark specialize in debt negotiation with results reaching the 10 cent on the dollar level frequently on very large debts with an average goal of 30 cents on the dollar. Even on small debts we maintain a 50% settlement level but additionally we require that the negative listings on your credit report be removed with payment. Our opinion is that unless the negative information is removed there is no reason to pay a creditor. We also negotiate Judgments and collections at the same levels of savings.
2) What are we trying to achieve
Our goal is to take a reported bad line of credit and turn it into a good line of credit, by achieving this goal we can make a serious improvement on your credit score.
3) Judgments
Judgments can be intimidating to deal with for a consumer especially if the Judgment is being pursued by an attorney. What we do is get in between you and the attorney and protects you from an unscrupulous pursuit of funds putting a lien on property or bank accounts.
4) Plan of attack (example)
At the onset of our relationship with you we build a plan of attack on your debts, this is important for both yourself and us to follow so that we know what your goals are and your timetables.
Tobin & Clark will enter into negotiations with your creditors with the express purpose of discounting your debts and getting a settlement reported to the credit agencies this is the most important aspect of paying your creditors and raising your credit score to a level that is high enough to obtain credit.