CALIFORNIA INFORMATION STATEMENT

CALIFORNIA INFORMATION STATEMENT

  1. CONSUMER CREDIT FILE RIGHTS UNDER STATE AND FEDERAL LAW
  1.  You have a right to dispute inaccurate information by contacting the consumer credit reporting agency directly. However, neither you nor any credit repair company or credit services organization has the right to have accurate, current, and verifiable information removed from your credit report. Under the Federal Fair Credit Reporting Act, the consumer credit reporting agency must remove accurate, negative information from your report only if it is over seven (7) years old. Bankruptcy information can be reported for ten (10) years.
  1.  You have a right to obtain a copy of your credit file from a consumer credit reporting agency. You may be charged a reasonable fee, not exceeding eight dollars ($8). However, there is no fee if you have been turned down for credit, employment, insurance, or a rental dwelling because of information in your credit report within the preceding sixty (60) days. The consumer credit reporting agency must provide someone to help you interpret the information in your credit file.
  1.  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.
  1.  You have the right to cancel your Contract with any credit repair organization for any reason within five (5) business from the date you signed it.
  2.  Credit reporting agencies are required to follow reasonable procedures to ensure that the information they report is accurate. However, mistakes may occur.
  1.  If you have notified a credit reporting agency in writing that you dispute the accuracy of the information in your credit file, the consumer credit reporting agency must then reinvestigate and modify or remove inaccurate information. The consumer credit reporting agency may not charge a fee for this service. Any pertinent information and copies of all documents you have concerning an error should be given to the consumer credit reporting agency.
  1.  If a reinvestigation does not resolve the dispute to your satisfaction, you may send a brief statement to the consumer credit reporting agency to keep in your file, explaining why you think the record is inaccurate. The consumer credit reporting agency must include your statement about disputed information in any report it issues about you.
  1.  The credit reporting agency must include a summary of your statement about disputed information with any report it issues about you.
  1.  The Federal Trade Commission regulates credit reporting agencies and credit repair organizations. For more information, contact:

The Public Reference Branch

Federal Trade Commission

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  1. THE SERVICES

(per California Civil Code Section 1789.15(a)). 

  1.   Under the service agreement, the Company agrees to perform the following:
  1. Identification of any inaccurate, erroneous, unverifiable, false, outdated, or obsolete information within the Client’s credit report at applicable credit reporting agencies (ex. TransUnion, Experian, Equifax) any data furnishers reporting data to relevant credit reporting agencies.
  1. Advise Client on any necessary actions required to assist Company in the disputing of any inaccurate, erroneous, unverifiable, false, outdated, or obsolete information identified on Client’s credit report at applicable credit reporting agencies.
  1. Prepare and send all necessary documentation, letters, mailings, faxes, or other correspondence to dispute any inaccurate, erroneous, unverifiable, false, outdated, or obsolete information identified on Client’s credit report applicable credit reporting agencies.
  1. Provide a monthly review of Client’s credit report at applicable credit reporting agencies and prepare any follow-up documentation, letters, mailings, faxes, or other correspondence required to dispute any inaccurate, erroneous, unverifiable, false, outdated, or obsolete information identified on Client’s credit report at applicable credit reporting agencies. 
  1. Provide individualized coaching and consulting as necessary by meeting in person, internet video conferencing, phone, email, or other correspondence.
  1.  The Client agrees to make the following payments in exchange for the services described above: 

$1,295.00 upon completion of initial document processing as described in Sections 1.1a, 1.1b, 1.1c of the Repair Services Agreement.

$75.00 at the end of each month of service for the next 6 months. 

  1. REGISTRATION AND SURETY BOND

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The surety bond in the amount of $100,000 is issued by:  

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  1. RIGHT TO PROCEED AGAINST THE SURETY BOND 

(per California Civil Code Section 1789.15(b) and 18). 

  1.  The bond shall be in favor of the State of California for you if you are damaged by any violation of your rights under California Civil Code Title 1.6E.
  2.  You may maintain an action at law against the Company and against the surety.  The surety shall be liable only for actual damages and not the punitive damages permitted under California Civil Code Section 1789.21.  The aggregate liability of the surety to you shall in no event exceed the amount of the bond.
  3.  The bond shall be maintained for two years following the date on which the Company ceases to conduct business in this state.
  • RIGHT TO CANCEL CONTRACT

(per California Civil Code Section 1789.15D).

You have a right to cancel the contract for any reason within five working days from the date you signed it.  If for any reason you do cancel the contract during this time, you do not owe any money. You have a right to sue us if we mislead you.

  • AVAILABILITY OF NONPROFIT CREDIT COUNSELING SERVICES

(per California Civil Code Section 1789.15(d)).

Nonprofit credit counseling services may be available in your area.

_______________________________                __________________________

              Client’s Signature     Date

 _________________________________                __________________________

            Company’s Signature                 Date

 

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