Better Qualified Teams Up With Identity Theft 911

Better Qualified has partnered with Identity Theft 911 to provide identity theft protection, management and resolution services as coverage enhancements to customers. This new program provides Identity Theft 911’s LifeStages™ Identity Management services to customers and their families at no charge, including 24/7 dedicated access to a fraud specialist for personalized support with proactive assistance and identity theft recovery services.

SCOTTSDALE, Ariz. June 14, 2011 — Identity Theft 911, the nation’s premier identity management and data risk management services provider, today announced that Better Qualified, a leader in credit restoration and identity theft services, has chosen the company to offer identity protection and identity theft resolution services to customers.  Better Qualified customers and their family members now benefit from Identity Theft 911’s LifeStages™ Identity Management services during the times in life when they are most susceptible to identity theft.

According to the 2011 Identity Fraud Survey Report by Javelin Strategy & Research, the average consumer out-of-pocket cost due to identity fraud increased 63 percent from $387 in 2009 to $631 per incident in 2010. Along with the higher cost of resolution fees, the average time spent resolving identity fraud issues increased from 21 to 33 hours, emphasizing the need for better consumer education and resolution services.  Recognizing this trend, Better Qualified customers have the convenience and benefit of a trusted advisor they can turn to for help resolving crises in credit and identity theft.

“Knowing that your credit report is being monitored for any changes, while also having access to a fraud specialist  with a simple phone call is priceless.” said Paul Oster, CEO, Better Qualified.  “We are in the business of protecting and restoring clients’ credit, so our partnership with IDT911 brings additional value to our customers with a resource to help fight the fastest growing crime in America.”

Identity Theft 911 fraud specialists provide high-touch service to victims from the initial call through case resolution. Their expertise covers a range of issues, from proactive measures that provide protection to resolution in the case of true identity theft and account takeovers. The fraud specialists work one-on-one with victims and are available 24 hours a day, seven days a week until resolution is complete.

“Identity theft continues to rise and has become more complex, leaving victims alone in trying to restore their reputation and identity,” said Matt Cullina, CEO of Identity Theft 911. “With an already strong service offering, Better Qualified delivers even greater value to its customers with identity management education and resolution services.”

About Identity Theft 911
Identity Theft 911 is the nation’s premier identity theft and data breach management, resolution and education service. The company serves 13 million households across the country and provides fraud solutions for a range of organizations—including Fortune 500 companies, the country’s largest insurance companies, corporate benefit providers, banks and credit unions and membership organizations. Since 2005, the company has helped more than 150,000 businesses deal with data breaches. For more information, visit www.idt911.com.

About Better Qualified
Better Qualified, LLC (BQ) is a national Credit Repair Organization, with headquarters in Eatontown NJ.  BQ is an accredited business with an “A” rating according to the NJ Better Business Bureau.  Founded in 2006, BQ has helped thousands of individuals establish and improve their credit ratings.  BQ provides a free credit consultation and analysis to determine if a person is qualified for its programs.

5 Simple Facts about Credit Card Debt

by: Janna Weiss

Wherever there are credit cards, it seems that tales of identity theft and unmanaged debt are always lurking nearby.  But it’s entirely possible to have a credit card – or several – without carrying an unhealthy load of debt or worrying about your identity being stolen while using it online. Fo identity protection, you can use the Fully-Verified’s services and instead of using a photo verification, use video verification to ensure complete security. Plenty of people do just that. Here are five facts about credit card debt that can help you use your own credit cards to your advantage – not to your detriment.

Debt Isn’t Necessary

When you open a credit card account, don’t assume that debt is just a part of the package. Debt is sometimes the result of unfortunate accidents or emergencies, but most of the time it can be controlled. To keep yourself out of debt, use your credit card the same way you would use cash. Set a spending limit, and don’t spend more than you can pay back at the end of each month. Cardholders who pay off their balances each month keep a good credit history with little or no debt. Problems arise when you start carrying a balance from one month to the next.

Debt Will Sink Your Credit Score

If you owe too much, creditors will notice, and they’ll be reluctant to lend you more money. To them, a high debt-to-credit ratio is the sign of undisciplined spending. Make sure not to utilize more than 25% of the available credit on any one card.

Debt Has Other Consequences, Too

Besides driving down your credit score, debt can result in litigation and the garnishing of wages. The laws vary by state, but it is possible to be taken to court over unsecured debt such as credit card balances. Having a judgment against you will look bad on your credit report, and may result in creditors garnishing your wages or seizing your property. You Can Settle for Less

There are plenty of stories of people who settled their outstanding credit card debt for a percentage of what they actually owed. This is possible, but it’s not something that should be taken lightly. First, most creditors will require you to be months behind on your payments before they will negotiate a deal. Be prepared to offer them a lump sum, and don’t expect this strategy to work more than once with the same creditor. Finally, be aware that all of your forgiven debt can be reported and taxed as extra income.

Credit Card Purchases Can Be a Good Thing

It’s important to know when a credit card purchase will be beneficial. For example, you can use credit cards as a short-term loan to help cover the costs of moving, or to buy items that you truly need, but don’t have the cash to cover. Set up your own repayment plan, and stick to it. Repaying the balance over three months won’t cost you too much in interest, but drawing out the repayment over three years would be very costly!

The Better Qualified Renters Certificate

Renting an apartment is never easy for either landlord or tenant. And the hardest part, especially in this economy, is convincing a landlord to rent to a tenant who has had credit problems. With that in mind we have created The Better Qualified Renters Certificate, a program designed to assist people with low credit scores who are looking to rent. It provides their prospective landlord with a certificate showing they are in our program and authorizing the landlord to check on their status as they are being worked on to make sure they do not drop out of the program. We believe that our Renters Certificate can help bridge the gap between tenant and landlord and smooth out what is normally a very large hurdle.

Will Paying Off Old Debt Boost Your Credit Score?

Angie Mohr, provided by

Investopedia June 1, 2011


If you have a low credit score and are working towards raising it, it seems to make sense to pay off all of your old delinquent debts. However, this strategy can sometimes backfire and drop your score further. Any credit score repair strategy should involve analyzing each debt and predicting how changes to it will affect your overall score.

 

Although the exact formula used by FICO is proprietary and not publicly-disclosed, it is estimated that approximately 35% of the score relates to your payment history and 30% to the amount you currently owe. Paying off old debt will not erase the impact that previous delinquent payments have already had on your credit score. Depending on the status of the debt, making payments on or paying off a charged-off debt can hurt in the currently-owed category.

Paying off a Delinquent Account
If a credit account is simply overdue and shows as outstanding debt, paying it off will improve your credit score, as will making any payments against it. You will not be able to eradicate the late payments that are showing, but returning the debt to current status and reducing the overall amount owed will both boost up the number.

Paying off a Charge-off
This is where payments can actually reduce your credit score rather than improve it. If you have an old debt on your credit report that has been charged off by the lender – meaning that they do not expect further payments – setting up a new payment plan can re-activate the debt and make it appear to be more current than it actually is. This is often the case with debt that has been turned over to a collection agency. The agency may register the debt with credit bureaus as new rather than reporting it against the written-off debt. As newer debt weighs more heavily on your credit report than older debt, your score can drop when you make an effort to pay this type of debt. This can also occur with paying out the debt entirely. While the payment will make the debt show as settled in full, it may show on your report as new debt. Regardless of how it shows on your report, ensure that the lender removes the charge-off status on your old debt and shows it as paid in full.

Settlements
If you choose to settle with a lender for less than the total owed, the arrangement will show on your credit report and may drop your score depending on how it is reported. Some lenders will simply mark it as paid, which has a positive affect on your score; however, if they show it as settled, your score may suffer. Although you can ask a lender how they will report the settlement while you are in negotiations with them, you ultimately have no control over how they will report it.

Payment Strategies
If you must juggle repayments of old debt, start with those debts that are still showing as delinquent. That will give you the biggest boost in the short-term. Carefully review older debt that shows as charged off. Before contacting the creditor or collection agency, check your state laws to see if the debt is statute-barred, meaning that it is too old for creditors to attempt further collection. If it is not statute-barred, even contacting the creditor can re-instate the debt as currently collectible, which can drop your score.

If the debt is due to drop off of your report in the next several months because it is almost seven years old, consider waiting until then to pay it, as it will have no affect on your score once it drops off. If the debt shows as written off but will still show on your credit report for longer than a few months, collect all of the funds together to completely pay it off before making contact with the lender. That way, you will potentially re-activate the debt but will also show payment in full which will minimize the damage to your score.

The Bottom Line
The best strategy in managing your credit score is to pay your obligations on time, every time. If you do get behind, though, how you manage your old outstanding debt can have a significant impact, either negatively or positively, on your score.