Here is the Creditwrench Conference call for March 17th 2006.
This is the first half hour of the call.
Here is the 2nd half hour of the call
Here is the 3rd half hour of the call
Archive for March, 2006
Creditwrech Conference call for 03/17/2006
March 21, 2006
Students tell about their creditwrench experiences
March 21, 2006
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 03-14-2006, 05:43 PM |
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 Your experience wih Creditwrench? Hi, I am seriously considering joining, but I was looking for some personal references before taking the plunge…
About me, I am being sued by Citibank for CC debt and I am hoping Creditwrench has some good strategies for fighting this! Please email me at dave112mail@yahoo.com if you would like to discuss your experience. Feel free to post here too, of course, but I would be very interested in speaking with you in person on the phone if possible, so email me too. Regards,
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03-18-2006, 10:19 PM |
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Re: Your experience wih Creditwrench? most of the initial credit wrench stuff is about dealing with colection agences. whial it is very usfull information you are already being sued. Bill may be able to help you but i think it will depend on the situation. his phone number is around here some were. you will find he is very acsesable when you need him. you can trust him
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03-19-2006, 03:04 PM |
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Re: Your experience wih Creditwrench? Here’s what happened after I signed up with Creditwrench.
-when collection agencies came after me, they all ran away or transferred the debt to other collection agencies when I used what Creditwrench gave me. In that time I was able to gain a significant upper hand on the collection agencies that were coming after me. It also gave me several years to accumulate enough money that if the debt was legit I was able to settle it and settle it favorably for myself. -I was sued by Discover before I joined Creditwrench and I became such a pain in the ass to them and their scumbag collection attorney’s because of what Bill taught me that the suit has now been dropped and settled in my favor. If I was smart and talked to Bill every step of the way, I would have gotten rid of this suit right at the start. Bill helped me write an answer to the summons and complaint, he helped me with my counterclaims and gave me the confidence to walk into a courtroom representing myself against a debt collection attorney who was shocked to see me there each and every time. Thye expect us not to show up and get default judgements. At one point there was a pre-trial conference with myself, Discover’s attorney and the judge where I wiped the floor with Discover’s attorney by asking them for specific pieces of evidence and how they didn’t have it (and I was right) and the judge admonished Discover’s attorney and told him they better get their act together before they walked back into his courtroom. Discover’s attorney that day actually apologized to me in the elevator for not being prepared. Creditwrench is a lot of work — I will not sit here and say I was the best and most agressive student — You have to be prepared to do a lot of research and work for yourself, but Bill and the rest of the guys here will not steer you wrong. They will give you the tools and a defense against an industry filled with unethical business practices that normally are not fought by average consumers. So what can you expect? You can expect the harrassing calls to pretty much stop after you use your creditwrench techniques. You can expect to understand the law which is there to protect you and how to try to use it to help you against the collection industry. You can expect Bill to be there to help you and speak to you every step of the way. What you can’t expect is paying the fee to join Creditwrench and that being a magic pill that will make all your worries disappear instantly. There’s no trick. There’s no magic pill. It will require work and effort and learning on your part, but Creditwrench will give you all the tools you need to fight.
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Building credit
March 9, 2006
If one is attempting to build good credit scores there is really only a few guidelines to go by. These are the ones I think important.
1. You might have to start off with crappy low limit credit cards like Cap1, Providian, Aspire, Orchard and others but in the end their helpfulness will be very limited indeed unless you have a very high income to go along with it.
On the other hand if you are strictly using bank issued credit cards your scores will also be higher.
2. Your zip code is also quite important. If you live in a zip where the average inhabitant is a renter who has a median income of say $20 to $30 thousand you won’t get nearly as high a score as you would if you live in a zip code where the median income is maybe $150,000 and up and everyone owns their homes.
3. How you borrow money is also important. If you borrow small amounts of money from some payday loan company or even a finance company that will also hurt your score more than it will help. Borrow your money from a bank instead and your score will be much better. I used to borrow from such outfits but not any more. Payday loans are the worst. Next are the small loan companies.
4. Seems to me that financing your cars don’t help much either. Last time I financed a car I made every payment on time, never late and it really didn’t improve my score at all. I think that once again, where you borrow the money to finance your car makes a tremendous difference. Let the dealer finance it with one of his scummy finance companies and you won’t get any good scores out of it no matter how faithfully you make your payments but get your financing from a bank and you will get some recognition for your timely payments.
5. Don’t have loads of store credit cards either. You might want a Target but keep a low balance on it. Same with the other store cards. Keep a very low balance on them at all times. I have Target, Circuit City and others but I keep a very small balance on them, usually well under $100 each. I do run some “large” purchases on them from time to time but always pay them off as soon as the bill comes in. I never wait for the due date. I never make the minimum payment even if I have to go buy something just before the bill comes out. Take Target for instance. Lets say I have a balance of maybe $20 so I know that the minimum payment would entirely wipe out the remaining balance. I’ll go buy a new pair of pants or something just to run the bill up to maybe double that so the card never gets totally paid off.
I had some low income times a few years back and defaulted on lots of cards and debt. I gave them all the old creditwrench treatment but at the same time I was negotiating with them trying to get them to reinstate the cards. Some would and some would’nt. Those who did got paid every dime I owed them and they reinstated the cards as per the agreements. The rest of them are still sucking hind tit, getting nothing. One of them even gave me a new card recently. (LOL) and the rest I wouldn’t accept a card with even if they offered me one and they have.
The one who just gave me a new card even sued me for the old one a couple of years or so ago and naturally they lost that case badly.
