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Your Guide To A Bright Start

tips and

FAQS

PAY YOUR BILLS ON TIME

Consistently paying bills on time is a very important factor considered with your FICO® Score. On-time payments can have a positive impact on your FICO Score over time, while a history of late payments can have a negative impact. The more recent the late payments occurred, the greater the impact they will likely have on your FICO Score. As late payments age, their effect on your FICO Score will gradually lessen.

 

Bottom Line:

Paying ALL bills on time can positively affect your FICO Score over time.

 

FORGET TO PAY A BILL

Missing a payment can substantially affect your FICO® Score. The more recent, frequent, and severe the late or missed payment, the greater the impact is on your FICO Score. A newly posted late or missed payment will have a greater impact on your FICO Score if there is a long-standing history of on-time payments, and less of an impact if negative items are already on the credit report.

 

Bottom Line:

Missing a bill payment can negatively affect your FICO Score.

 

DON'T PAY ANY OF YOUR BILLS

A history of late or missed payments can substantially affect your FICO® Score. The more recent, frequent and severe the late or missed payments, the greater the impact on your FICO Score. Multiple late or missed payments will have a greater impact on your FICO Score if there is a long-standing history of on-time payments, and less of an impact if negative items are already on the credit report.

 

Bottom Line:

Not paying bills that are due can negatively affect your FICO Score.

 

DECLARE BANKRUPTCY

A bankruptcy can severely damage your FICO® Score. Generally, the more recently the bankruptcy was filed, the greater the impact it will have on your FICO Score. A bankruptcy will also have a greater impact if there are few or no negative items on the credit report and less of an impact if negative items are already being reported.

 

Bottom Line:

Declaring bankruptcy can have a severe negative impact on your FICO Score.

 

AGE YOUR CREDIT

Generally, the longer your credit history has been established, the more positive an impact it'll have on your FICO Score. As a credit report ages, factors such as reported inquiries and negative items can either fall off the report (most negative items stop being reported after 7 years) or become less recent, which may gradually lessen the impact on your FICO Score (assuming NO new negative factors are reported and balances either decrease or remain unchanged over the same time period.

**NOTE:  Remaining inactive on one's credit may result in becoming unscoreable (FICO Scores require there to be activity reported on at least one account in the last six months as part of the minimum scoring criteria).

**FICO Score Ingredients Impact: Length of Credit History (15% of a FICO Score); Amount of Debt (30% of a FICO Score); Payment History (35% of a FICO Score); Amount of New Credit (10% of a FICO Score).

 

Bottom Line:

The longer a credit history has been established, the more it can positively affect your FICO Score. 

 

MISSED A PAYMENT BY 90 DAYS

Having an account go 90 days past due can substantially affect your FICO® Score. The more recent, frequent, and severe the late or missed payment, the greater the impact on your FICO Score. A newly posted 90 day past due will have a greater impact on your FICO Score if there is a long-standing history of on-time payments, and less of an impact if negative items are already on the credit report.

 

HAVE AN ACCOUNT GO INTO COLLECTION

Having an account go into collection can severely affect your FICO® Score. Generally, the more recent the collection, the greater the impact it'll have on your FICO Score. How a collection affects your FICO Score depends on the amount of the collection as well as other information on the credit profile. A collection will likely have a greater impact on your FICO Score if there is a long-standing history of on-time payments and less of an impact if negative items are already on the credit report. NOTE:  FICO Score 8 doesn't consider collections with an original amount that is less than $100.

 

APPLY FOR NEW CREDIT

When you apply for new credit, your lender may check your FICO® Scores and credit reports, which posts a credit inquiry to your credit report. Credit inquiries remain on your credit report for 2 years, but FICO Scores only consider credit inquiries from the past 12 months. Generally, applying for and obtaining new credit indicates greater credit risk and can affect a FICO Score. How much of an impact applying for new credit has on your FICO Score depends on a variety of factors, including one's credit history, how many new accounts have recently been opened, and the type and number of inquiries posted.

tips

faqs

How much does Bright Beginnings Services Cost?

Bright Beginnings offers a Monthly Membership

  

Single Membership –   $2500.00 to Enroll $160.00/month 

   Joint Membership – $399.00 to Enroll $250.00/month

Expedited Program- $997.00 - $3000.00/month

Can take 2-3 months depending on how much debt you are in.

This contains all of the necessary credit counseling services including unlimited counseling,

inquiry validation, debt validation, free credit reports, and more.

 

Does Bright Beginnings allow me to enroll more than one person or my whole family?

 

Yes, Bright Beginnings does allow you to enroll more than one person.

However, each person will need to create their own account. If they are signed up within the first three days following your order, you will receive $20 off your first monthly payment.

This discount is only applicable to the first payment.

 

How does Bright Beginnings Financials help my credit?

 

Bright Beginnings will contact the three main credit bureaus in order to make sure that all the information on your credit report is accurate. Bright Beginnings team member that is assigned to your case will review your credit report and report all inaccuracies and counsel and educate you .

 

Does Bright Beginnings provide Credit Monitoring?

 

Bright Beginnings offers basic credit monitoring to their customers. We make sure to pull your credit report, help you keep track of your credit scores, and receive regularly scheduled credit reports.

 

How long will it take before I start to see results with Bright Beginnings?

 

Bright beginnings state that customers will begin seeing initial results within the first 45 – 60 days. The average length of time to have full credit repair results is approximately six to twelvemonths. However, the time varies with each customer due to the varying total number of negative items that need to be counseled for removal per customer.

 

What results can I expect from Bright Beginnings?

 

Bright Beginnings has only published a few statistical results on its website. They state that customers are able to begin seeing results within the first 45 – 60 days. They do not state the customers average results. They only state that they have helped customers credit score go up as little as 40 points to qualify for a home loan and 200+ points for customers who had severely bad credit.

**NOTE:  Individual results will vary. No company can legally guarantee any result to a client’s credit score. Customers should understand that they may not receive the same results as others.

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