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“Consumer Credit File Rights Under State and Federal Law
“You have a right to dispute inaccurate information in your credit report by contacting the credit bureau directly. However, neither you nor any ‘credit repair’ company or credit repair organization has the right to have accurate, current, and verifiable information removed from your credit report. The credit bureau must remove accurate, negative information from your report only if it is over 7 years old. Bankruptcy information can be reported for 10 years.
“You have a right to obtain a copy of your credit report from a credit bureau. You may be charged a reasonable fee. There is no fee, however, if you have been turned down for credit, employment, insurance, or a rental dwelling because of information in your credit report within the preceding 60 days. The credit bureau must provide someone to help you interpret the information in your credit file. You are entitled to receive a free copy of your credit report if you are unemployed and intend to apply for employment in the next 60 days, if you are a recipient of public welfare assistance, or if you have reason to believe that there is inaccurate information in your credit report due to fraud.
“You have a right to sue a credit repair organization that violates the Credit Repair Organization Act. This law prohibits deceptive practices by credit repair organizations.
“You have the right to cancel your contract with any credit repair organization for any reason within 3 business days from the date you signed it.
“Credit bureaus are required to follow reasonable procedures to ensure that the information they report is accurate. However, mistakes may occur.
“You may, on your own, notify a credit bureau in writing that you dispute the accuracy of information in your credit file. The credit bureau must then reinvestigate and modify or remove inaccurate or incomplete information. The credit bureau may not charge any fee for this service. Any pertinent information and copies of all documents you have concerning an error should be given to the credit bureau.
“If the credit bureau’s reinvestigation does not resolve the dispute to your satisfaction, you may send a brief statement to the credit bureau, to be kept in your file, explaining why you think the record is inaccurate. The credit bureau must include a summary of your statement about disputed information with any report it issues about you.
“The Federal Trade Commission regulates credit bureaus and credit repair organizations. For more information contact:
The Public Reference Branch
Federal Trade Commission
Washington, D.C. 20580
§1679e. Right to cancel contract
(a) In general
Any consumer may cancel any contract with any credit repair organization without penalty or obligation by notifying the credit repair organization of the consumer’s intention to do so at any time before midnight of the 3rd business day which begins after the date on which the contract or agreement between the consumer and the credit repair organization is executed or would, but for this subsection, become enforceable against the parties.
(b) Cancellation form and other information
Each contract shall be accompanied by a form, in duplicate, which has the heading “Notice of Cancellation” and contains in bold face type the following statement:
“You may cancel this contract, without any penalty or obligation, at any time before midnight of the 3rd day which begins after the date the contract is signed by you.
“To cancel this contract, mail or deliver a signed, dated copy of this cancellation notice, or any other written notice to [ name of credit repair organization ] at [ address of credit repair organization ] before midnight on [ date ]
“I hereby cancel this transaction,
[ date ]
[ purchaser’s signature ].”.
(c) Consumer copy of contract required
Any consumer who enters into any contract with any credit repair organization shall be given, by the organization—
(1) a copy of the completed contract and the disclosure statement required under section 1679c of this title; and
(2) a copy of any other document the credit repair organization requires the consumer to sign,
at the time the contract or the other document is signed.
Terms of Service
The specific services, guarantees, payment terms, time-frame, and total cost are set forth in the client disclosure statement incorporated herein for all purposes. NOW, in consideration of the mutual promises contained herein, the parties agree as follows:
Conflict of Interest
Client warrants to Company that it does not currently represent or promote any lines or products that compete with the Company’s Products, they are not currently a client of any other Credit Repair company, nor have they been a client of another credit repair company in the last six (6) months.
Indemnification by Client
Client shall indemnify and hold Company free and harmless from any and all claims, damages or lawsuits (including reasonable attorneys’ fees) arising out of negligence or malfeasance of Client.
Indemnification by Company
Company shall indemnify and hold Client free and harmless from any and all claims, damages or lawsuits (including reasonable attorneys’ fees) arising out of failure of Company to provide reasonable credit score increase within the allotted term.
Affiliate Service Provider
While it is not the current policy of CreditNerds.com to use an affiliate service provider, Company has the option of fulfilling the credit services through a credit services processor or affiliate to best serve you.
Terms and Termination
a. This Agreement shall continue as outlined in “Exhibit A” unless terminated by Company or Client as provided herein.
b. Termination for Cause. If either party shall default in the performance of any material obligation in this Agreement, then the non-defaulting party may give written or electronic notice to the defaulting party and if the default is not cured within thirty (30) days following such notice, the Agreement will be terminated.
Confidentiality
Client acknowledges that by reason of its relationship to Company, they will have access to certain information and material concerning Company’s business that are of substantial value to Company. The value would be impaired if such information were disclosed to third parties. Client agrees that it shall not use in any way for its own account or the account of any third party, nor disclose to any third party, any such confidential information revealed to it by Company.
Governing Law and Jurisdiction
This Agreement shall be governed by and construed according to the laws of the State of Arkansas.
Entire Agreement
This Agreement sets forth the entire agreement and understanding of the parties relating to the subject matter herein and supersedes any prior discussions or agreements between them. No modification of or amendment to the Agreement, nor any waiver of any rights under this Agreement, shall be effective unless in writing signed by the party to be charged.
Notices
Any notices required or permitted by the Agreement shall be deemed given if sent by Certified mail, postage prepaid, e-mail, fax, return receipt requested or by recognized overnight delivery service: If to Company; at its principal place of business or if to Client, at the provided address.
Severability
If any provision of this Agreement is held to be invalid by a court of competent jurisdiction, then the remaining provisions shall nevertheless remain in full force and effort.
Legal Expenses
The prevailing party in any legal action brought by one party against the other and arising out of this Agreement shall be entitled, in addition to any other rights and remedies it may have, to reimbursement for its expenses, including court costs and reasonable attorneys’ fees.
CLIENT OBLIGATIONS
- Client will need a Proof of Identity and a recent utility bill showing the correct address (phone bill, gas bill, electric bill, etc…)
- Client agrees to maintain a “credit monitoring system” and provide CreditNerds.com access to that account. If client fails to keep an active monitoring account and fails to provide credit results, client’s file shall be cancelled.
- Client agrees to forward all mail received regarding their credit file to CreditNerds.com.
CREDITNERDS.COM GUARANTEE POLICY
CreditNerds.com offers no guarantee as to a specific result from the use of our services. CreditNerds.com is engaged for the attempted repair or removal of each item on which the client chooses for us to work. CreditNerds.com requires the client to keep an active credit monitoring system. After each round of disputes, CreditNerds.com will update that monitoring account by requesting a new 3-bureau credit report, and the client will be notified of any items that have been repaired or removed in the previous round of disputes. These deletions or repairs may or may not lead to an improvement in the client’s credit scores and/or credit report.
DISCLOSURE STATEMENTS
All clients of CreditNerds.com must read and understand the following statements.
- Client understands this is a binding agreement.
- Either party may cancel this agreement at any time.
- CreditNerds.com shall, within the course of 5 to 7 business days of signup, set up clients with their online private client site which will allow them to check progress throughout their service.
- A username and password will be provided to the client to access their online client portal.
- CreditNerds.com will prepare client audit within 5 – 7 days and deliver via the online client portal before the audit fee is charged.
- CreditNerds.com shall prepare challenges for items appearing on the customer’s credit reports in accordance with the FCRA.
- After each consecutive round of service, CreditNerds.com shall prepare all follow-up challenges, as allowed by the Fair Credit Reporting Act, Fair Debt Collection Practices Act, Fair and Accurate Transactions Act and Fair Credit Billing Act or other laws applicable.
- All items repaired or removed will be posted to the client’s online portal, which is accessed online by username and password provided to client upon initiation.
- CreditNerds.com shall assist client in determining the action to take with each account in regards to that client’s file.
- CreditNerds.com is available to review the client’s personal credit file by calling the customer service numbers provided upon enrollment.
- Client acknowledges receipt of two (2) copies of a Notice of Right to Cancel.
- Client acknowledges receipt of Consumer Credit File Rights under State and Federal Law.
- CreditNerds.com shall also provide a client services staff for assistance in answering questions regarding a client’s account.
- CreditNerds.com will ONLY challenge items as allowed by law.
- A “removal” is defined as an item, tradeline, personal information, or inquiry that is removed from any of the client’s three credit files for ANY reason during our service.
- A “repair” is defined as any “formerly negative” tradeline or any of the client’s credit files that, during our service, becomes a “positive” tradeline. This could include but is not limited to removal of “late notations” or “status change”.
OUR PRICING
Our core services of Credit Repair are charged on a “Per Deletion / Repair” basis at $25 ($20 for couples) per successful deletion of repair.
Our “Premium” mailing service is charged at $47 per round and is in exchange for printing, stuffing, and mailing the disputes. This service is for convenience and is 100% optional. The Premium Plan does not improve the liklihood of increased credit score or additional removals in any way.
Automatic Payment Program
if a customer receives an invoice that is more that $100 ($150 for couples), they can choose to pay in full for a 20% discount OR they will be auto-enrolled into a zero interest payment plan of $100 per month ($150 for couples). The customer can choose at any time to pay off the balance of any invoice with the 20% discount.
Cancellation Fee
All clients will be required upon cancelling to allow CreditNerds to complete a final review of the file. This will be done using the monitoring account provided to us by the client. Client will be charged for all deletions/repairs obtained during their time with us. If client does NOT allow CreditNerds to complete a final fail review, we will assess a $100 Cancellation fee ($150 for Couples) and charge that amount to the card on file. This fee is refundable by allowing CreditNerds to perform a final file review.
THE FOLLOWING ARE PART OF BUT NOT CONSIDERED TO BE A COMPLETE LIST OF OUR SERVICES.
- Create a unique, secure interactive client web portal for online access.
- A username and password will be provided to the client to access their online client portal.
- Create a secure online environment as part of the client web portal for secure document sharing and transfer.
- Assist client in obtaining copy of credit report if needed.
- Analysis and review of client credit report.
- Enter Data from clients credit report into internal database.
- Enter Data from clients credit report into secure interactive online client portal.
- Enter clients information into online client portal for tracking purposes.
- Analysis and review of client file status updates.
- CreditNerds.com shall also provide a client services staff for assistance in answering questions regarding a client’s account.
- Receiving and processing of Manual Updates.
- Respond to, receive, and or initiate correspondence via telephone, mail, email, or fax.
- Review clients credit report updates to determine next step.
- Create strategic plan to assist clients in meeting their goals.
- Create dispute letters.
- Assist with credit questions.
- Provide ongoing credit education.
We would like to take this time to thank you for trusting CreditNerds.com to help you through this difficult time. We are glad you have given us the chance to help, and we look forward to a successful relationship together.
PRIVACY POLICY
Your privacy is critically important to us. At CreditNerds.com we have a few fundamental principles:
- We don’t ask you for personal information unless we truly need it.
- We don’t share your personal information with anyone except to comply with the law, develop our service, or protect our rights.
Below is our privacy policy which incorporates these goals:
(Note, we’ve decided to make this privacy policy available under a Creative Commons Sharealike license, which means you’re more than welcome to steal it and re-purpose it for your own use, just make sure to replace references to us with ones to you, and if you want we’d appreciate a link to www.CreditNerds.com somewhere on your site. We spent a lot of money and time on the below, and other people shouldn’t need to do the same.)
If you have questions about deleting or correcting your personal data please contact our support team.
WEBSITE VISITORS
Like most website operators, CreditNerds.com collects non-personally-identifying information of the sort that web browsers and servers typically make available, such as the browser type, language preference, referring site, and the date and time of each visitor request. Our purpose in collecting non-personally identifying information is to better understand how our visitors use the website. From time to time, we may release non-personally-identifying information in the aggregate, e.g., by publishing a report on trends in the usage of its website.
We also collect potentially personally-identifying information like Internet Protocol (IP) addresses for logged in users and those who fill out our web signup forms.
GATHERING OF PERSONALLY-IDENTIFYING INFORMATION
Certain visitors to our website choose to interact with us in ways that require us to gather personally-identifying information. The amount and type of information that we gathers depends on the nature of the interaction. For example, we ask visitors who sign up for credit repair services at CreditNerds.com to provide an extensive amount of personally identifiable information. However, this information is extremely important for the credit repair process. Those who engage in transactions with CreditNerds.com by purchasing service, for example are asked to provide additional information, including as necessary the personal and financial information required to process those transactions. In each case, we collect such information only insofar as is necessary or appropriate to fulfill the purpose of the visitor’s interaction with us. CreditNerds.com does not disclose personally-identifying information to any third party without the consent of our visitor. Visitors can always refuse to supply personally-identifying information, with the caveat that it may prevent them from engaging in certain website-related activities.
AGGREGATED STATISTICS
CreditNerds.com may collect statistics about the behavior of visitors to its websites. For instance, we may monitor the most popular pages on the site or use the services of Goolge Analytic to monitor web activity. We may display this information publicly or provide it to others. However, CreditNerds.com does not disclose personally-identifying information other than as described below.
PROTECTION OF CERTAIN PERSONALLY-IDENTIFYING INFORMATION
CreditNerds.com discloses potentially personally-identifying and personally-identifying information only to those of its employees, contractors and affiliated organizations that (i) need to know that information in order to process it on our behalf or to provide services available at our websites. By using our websites, you consent to the transfer of such information to them. We will not rent or sell potentially personally-identifying and personally-identifying information to anyone. Other than to its employees, contractors and affiliated organizations, as described above. CreditNerds.com discloses potentially personally-identifying and personally-identifying information only in response to a subpoena, court order or other governmental request, or when we believe in good faith that disclosure is reasonably necessary to protect the property or rights of CreditNerds.com, third parties or the public at large. If you are a registered user of our website or have supplied your email address, we may occasionally send you an email to tell you about new features, solicit your feedback, or just keep you up to date with what’s going on with us and our products. If you send us a request (for example via a support email or via one of our feedback mechanisms), we reserve the right to publish it in order to help us clarify or respond to your request or to help us support other users. CreditNerds.com takes all measures reasonably necessary to protect against the unauthorized access, use, alteration or destruction of potentially personally-identifying and personally-identifying information.
COOKIES
A cookie is a string of information that a website stores on a visitors computer, and that the visitors browser provides to the website each time the visitor returns. CreditNerds.com uses cookies to help us identify and track visitors, their usage of our website, and their website access preferences. Visitors who do not wish to have cookies placed on their computers should set their browsers to refuse cookies before using our website.
BUSINESS TRANSFERS
If CreditNerds.com, or substantially all of its assets were acquired, or in the unlikely event that CreditNerds.com goes out of business or enters bankruptcy, user information would be one of the assets that is transferred or acquired by a third party. You acknowledge that such transfers may occur, and that any acquirer of CreditNerds.com may continue to use your personal information as set forth in this policy.
ADS
Ads appearing on any of our websites may be delivered to users by advertising partners, who may set cookies. These cookies allow the ad server to recognize your computer each time they send you an online advertisement to compile information about you or others who use your computer. This information allows ad networks to, among other things, deliver targeted advertisements that they believe will be of most interest to you. This Privacy Policy covers the use of cookies by CreditNerds.com and does not cover the use of cookies by any advertisers.
PRIVACY POLICY CHANGES
Although most changes are likely to be minor, we may change our Privacy Policy from time to time, and in our sole discretion. CreditNerds.com encourages visitors to frequently check this page for any changes to its Privacy Policy. Your continued use of this site after any change in this Privacy Policy will constitute your acceptance of such change.
For any questions regarding this policy, please refer to the contact information below.
CREDITNERDS.COM
Po Box 1472
PARAGOULD, AR 72450
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