When you look for what could go wrong with a deal, you will always find something.  When we say to ourselves, “I need more education before I make my first offer” we forget that TRUE education comes from applying what we learn, not the raw knowledge itself.  Of course, it is important to know the basics.  It would not be prudent to go out and expect to make money in real estate after simply reading one book in an afternoon.  Expecting to become a millionaire in a weekend is ridiculous. 

However, the bigger danger lies in substituting an excess amount technical knowledge for practical knowledge.  Go to any real estate investment club and you will meet people who have attended 2 or more boot camps, have read a dozen or so books, and have been deluded themselves into thinking they are investors.  They may have been “thinking” about investing for 2 or more years and have yet to get out and make an offer.  If this is you, don’t despair, however.  ALL investors, no matter what their experience, had an “incubation” period where they absorbed knowledge before going out into the marketplace.  This period can be anywhere from a month to a year or more.  This does NOT mean that you are doomed to become a seminar junkie.  But after a while, it becomes painfully clear that more technical knowledge is not the answer.  The REAL problem is our fear. 

Conquering your fear

If you think you are alone in this dilemma, think again.  With over 1 million investors in the United States, there is not a single one who didn’t show concern, worry, and doubt over his/her first deal.  Everyone has doubts.  Your mission is to conquer those doubts by reducing or eliminating as many risk factors as you can.  This is easily accomplished with the following basics:

1. Due your due diligence.  Nothing compares to crunching your numbers 2 or 3 times, and then running them past a more experienced investor.
2. Have a plan “B.”  When markets or financing changes, you need a back up plan.  Without a backup plan, you are opening yourself up to risk.  If you can’t sell your rehab, you better be ready to rent it.  If you don’t have the financial cushion to be a landlord, you better get one BEFORE you start the rehab.
3. Take action.  The paralysis of analysis is the single biggest killer of wealth in this country.  Due diligence is important, but without action, it is a wasted exercise.
4. Be accountable.  Even Michael Jordan had a coach.  Putting your plan into action all by yourself is foolish.  Plan your business thoughtfully.  Think big.  Take small steps and get moving!  Counseling with successful people will save you millions.

Successful people got where they are because they think and act differently than unsuccessful people.  Their attitudes, actions, beliefs, and even their friends are different.  There are people (even relatives!) who always look at what could go wrong, instead of who look at what could go right.  When you have a mentor who believes in you and encourages you to grow, change, get out of your “comfort zone” and go for it, you will definitely experience new opportunities.  The risk will always be there.  How we manage that risk is a critical component. It is important to perform due diligence and “crunch the numbers” on your opportunities.  But all too often, we look back on all the opportunities we missed, instead of reaching out and working towards those that lie ahead.

Below are some resources you might find helpful as you build a better financial future for you and your family.

http://www.dougcrowe.com News, articles, and a weekly radio show.  Free membership into the “insiders” club. Radio interviews with Robert Kiyosaki, Kim Kiyosaki, Robert Shemin, Sharon Lechter, Jane Garvey, Donna Bauer, and more.

http://www.hud.gov/buying/index.cfm         

http://www.habitat.org                                  

http://www.buyers-assistance.com 

http://springboardcorp.com 

http://realestateinvestingcourses.com   

Until now…

The dark clouds on the horizon are nothing new if you are over the age of 40. You’ve already seen a recession or two, a couple of wars, and lines at gas pumps. What makes 2008 different? Won’t we recover in a few years like always? Isn’t the current decline of the housing market, stock market and increased job loss part of the cycle our economic professors told us about?

Micro and Macro economics aside, there are looming megatrends which are making predictions of a typical recovery harder to predict. History repeats itself. When you study the Roman, British, and Chinese empires, one has to admit that the USA is clearly losing its status as the dominant economic superpower. The meteoric rise of China and India, will overwhelm our spending and investing for the next hundred years. The United States has set itself on a course of self destruction largely due to our short sighted behavior, lack of savings, dependence on credit, and isolationist attitude.

I love Americans. I love my country. When you travel the world, however, you see that the rest of the world is growing, thriving, and expanding, while the USA staggers around and assumes that we’ll grow out of our slump like have during all previous recessions.

This time is different.

With the exponential increase in energy costs, the price of nearly everything is increasing. Coupling inflation (Wow, we haven’t been afraid of that for a while!) with our credit markets and the expansion of China and India delineates our power, prestige, control, and ability to recover. China will dominate the world economy in our lifetime.

• The value of our own dollar has crashed over 40% in the past 5 years.
• As of 2005, over 21% of our GDP was in the financial service segment.
• Housing values have dropped 5-30% across our nation.
• Foreclosures are higher than they were during the great depression.
  Blah, blah, blah….

Other areas of the world are seeing tremendous growth. Nearly 50% of all equities are NOT US-based. In fact, since they don’t register with the SEC, you will never even know about them. You see, there are strict laws about marketing monetary instruments to U.S. citizens…if it doesn’t pass approval, you can’t know about it. Ever hear of a 14% CD? I’m not talking about 1980, but right now? They are available, just not to US citizens. You have to be a “world” citizen to know about them.

Do you know of countries where the real estate has appreciated 36% in the past couple of years? “World” citizens know of areas where the economies are MORE stable than those in the USA and have STRICTER banking regulations that actually make their investments safer. Remember the Savings and Loan bail out of the 80’s? People with $100K or less in their accounts were insured. But, if you had more than that, you lost-big time.

There are hundreds of opportunities in as many counties that are flourishing and whose economic base has not been hijacked by misguided governments and financial corporations. Unfortunately, seeking these out takes more than a casual look on the internet. Worse, your financial advisor is not ALLOWED to even know about these opportunities.

In the coming months, as I travel the world, I will be sharing these with you in the only format I can…a travel log. By sharing with you my currency trading platform (That gives me 5-12% ROI PER MONTH!), international CD’s in the double digits, and other offshore investments, you will discover that the world is getting smaller, and it’s high time we all wake up and become wise to what is happening beyond our borders.

There is nothing scary about investing internationally. The main hurdles will be getting over the fears that our own government and entrenched financial institutions have placed upon us. It is up to you to seek out the truth…not from advertisers, but from the very individuals who are living the dream. I will be introducing you to my friends; friends who have Swiss bank accounts, trade currencies safely, and invest in countries where the currency is strong, and the real estate values are growing. Stay tuned and keep your eyes open.

Doug Crowe
www.dougcrowe.com

Real estate is still a regional game. The prices, fluctuations, and sales data vary widely by demographics, employment, and infrastructure. There are several large economic factors which sway markets. They are worth watching and are in no particular order.

1. Absorption. There is an excess of inventory in many markets. With thousands of unsold homes by builders and many homeowners wanting to sell, there is more supply than demand. The result is that prices will not appreciate so long as supply exceeds demand. Watch the days on market for homes for sale and builder inventory.

2. Financing. In the last 5-7 years we saw lending institutions lose their professionalism. With the country awash in money, 110% mortgages created irrational exhuberance that has now helped to create the largest foreclosure market since the great depression. The correction in the financial markets is a very complicated issue and has amplified the housing crisis. Interest rates are one indicator. But, the resale of loans into the secondary market is equally important.

3. Employment. If people are out of work, they can’t qualify for a loan. This key statistic drives commercial real estate AND residential and is easy to monitor.

4. Infrastructure. If the community and government provide basic services and maintain roads, airports, and utiliities, then business tends to stick around. When the local and regional governments feel the pinch, businesses look elsewhere to run their shops.

5. Permits. Many builders know all of this information and then some. If permits for new construction increase, that may be a sign that the turnaround is coming. A decline in permits means that we are still on the backside of the boom-bust curve.

All in all, many pundits are saying that the housing market won’t stabilize for 2-3 years. There are permanent changes in our economy that make that prediction even fuzzier. We have survived wars, inflation, and recessions before. We have never had an accelerated energy cost spike like this before. Gas prices affect everything and many economists don’t see those prices retreating very much any time soon, if ever.

How a Bank “Suddenly” Goes Under
in the 21st Century

It was a very organized attack. On May 9th, the accountants snuck in the back door that Friday night after 5:00pm once the bank’s doors had closed. Little did anyone know the doors were closing for good…And under the cover of darkness, over a hundred FDIC accountants began to systematically dismantle ANB financial headquarters - the venerable US$2.1 Billion institution that had been in business just hours before. In short, FDIC officials were there to pick up the pieces because ANB was about to become the third bank to FAIL here in the

The unlucky customers of ANB received nothing more than a letter that stated nothing of the bank failure, but rather introduced the “new” bank - Pulaski Bank. Yet, I am sure most customers figured out their bank had gone south long before the formal letter arrived. As of 5:01 PM on May 9th, every single account at ANB was frozen. Money market accounts to trust assets to basic checking accounts…

What FDIC Insurance Really Means
If Your Bank Goes Under

When you hear your account is “FDIC insured,” do you really know what it means? In short, it means the Federal Deposit Insurance Corp. will reimburse you for up to US$100,000 for any one account you hold in your name. If you have a joint account, then both account holders are insured up to US$100,000. You also can secure US$100,000 for each beneficiary in certain accounts (payable on death). (For full FDIC rules see FDIC’s Guide to Deposit Insurance Coverage.) Does this insurance help? Absolutely. But when you have an account worth more than US$100,000…well, that’s how you can lose money if your bank goes under.Also, these days most respectable businesses make well over US$100,000 a year, so that limit is fairly easy to reach. And when accountants poured over ANB’s books, they discovered 647 accounts that exceeded that limit. That equaled US$39.2 million in uninsured funds.FDIC representatives, who I believe must hate their jobs on a regular basis, had to call these unfortunate account holders and tell them what they lost. One ANB client lost US$1.4 million. Overnight. With no warning. And as for the rest…well historically, uninsured deposits recoup 65 cents on the dollar. Plus, it can take years to get your money back. A shocked ANB client said to me: “It’s like [your money] doesn’t belong to you anymore…it’s theirs.”

Make Sure this Doesn’t Happen to You

As we’ve often said over the last 10 years in this business, you can protect yourself from such massive faults in the

Another valuable option is to diversify by moving a portion of your wealth offshore. By banking offshore, you gain an extra layer of protection because historically, offshore private banks have a higher liquidity than domestic banks. And in places like Switzerland and

Jack Pugsley, a hard money advocate and our Chairman, has a few suggestions about how to protect yourself from the next banking calamity including:1. Check out your bank’s credit rating. Check out the collateral backing up the loan. In the case of banks, you can do this by getting regular credit reports on any U.S. bank from Veribanc.2. Understand the rules, so you know what you’re getting into. You can check out FDIC rules to find out what types of accounts are covered and how much. Click here for the rules.3. If you decide to bank offshore, treat your offshore banker like a domestic banker. Check their credit rating and collateral. Sound foreign banks also protect against the possibility of the U.S. government declaring a bank holiday, or freezing bank deposits, as

How would you like to be a billionaire? It’s easy. Just move to Zimbabwe. This country’s entire population of over 12,000,000 are billionaires. In fact, many are trillionaires, or even quadrillionaires.

However, be careful what you wish for. As citizens of Zimbabwe have discovered, these riches are a curse rather than a blessing.

Let me explain. The minimum wage in Zimbabwe last month was Z$3.9 billion, and the average workers monthly salary was a magnificent Z$15 billion. Unfortunately for the worker and his family, his whole monthly Z$15 billion dollar paycheck wasn’t quite enough to buy a bar of soap. In fact, it takes Z$10 billion to make a single U.S. dollar as of this week.

That was last week. Prices are even higher today.

You Have to Be a Quadrillionaire to Afford a House

If you think eggs and cookies are dear, real estate transactions are carried out in quadrillions (in case you’re unfamiliar with “quadrillions,” a quadrillion is a million billion, or a 1 followed by 15 zeroes).

Houses in the less desirable, high-density neighborhoods are going for Z$1-3 quadrillion, while houses in better neighborhoods will set you back up to Z$20 quadrillion. But get you bid in now — prices are going up. These numbers are real, and the people have no power to change it.

Zimbabwe’s stock market has historically been a refuge for investors during periods of inflation. But recently stock prices also have soared. The Zimbabwe Stock Exchange industrial index leapt to a new high above 900 billion points last week, from just over 1.2 billion points in January.

That’s what happens during hyperinflation. The Zimbabwean experience is not a new phenomenon. Ever since the invention of paper money, the excesses of politicians and bankers have led to hyperinflation in dozens of countries.

Personal Currency Collection Shows the Horror of Hyperinflation

An associate of mine has a small collection of paper currencies from other countries that achieved this distinction. One piece is a large, beautifully-engraved German 100-mark note from 1910. When issued it was the equivalent of US$25, or roughly 1.25 ounces of gold.

As World War One progressed, the German government began expanding the money supply to pay for the war. By 1920, 100 marks would buy only US$1, or 1/20th of an ounce of gold.

At war’s end, the Germans had to pay war debts, so the money presses began rolling day and night. The government devalued the currency so much that it reached 9,000 marks to the dollar in January 1923. Then just six months later, it was 100,000 marks to the dollar. Then by August of that same year the exchange rate was an astounding 4.62 million marks to the dollar.

My collection contains a piece of German currency printed in September 1923. The September version of the mark was no longer the large, engraved, and very beautiful paper. By then, the German currency was half the size of the current U.S. dollar. It was printed on cheap paper on one side only, and carries the legend, Twanzig Millionen Mark, or 20 million marks.

That 20-million mark note wouldn’t buy a single bite of bread. By the end of the hyperinflation a loaf of bread cost 580 billion marks. And so it goes in Zimbabwe today. A loaf of bread, which cost about Z$15 million two months ago, last week cost about Z$600 million.

Celebrating Hyperinflation’s 132nd Anniversary Here in the U.S.

This year marked the 132nd anniversary of the beginning of hyperinflation right here in the United States.

Faced with the problem of funding the struggling Continental army in 1776, the “United Colonies” decided to issue currency to pay the troops. The notes were called “Continentals.” In my paper currency collection, I also have one of those notes. At the time, Americans started saying “not worth a Continental” instead “worthless.”

Price inflation has existed for thousands of years. It’s been present in every society advanced enough to use a general medium of exchange. And it’s universally feared.

To observe inflation throughout history, you would think it is a blight of nature, like earthquakes, hurricanes and the common cold. Each time inflation strikes a nation, it’s denounced, reviled, and cursed by citizens, economists, and politicians alike. Yet despite the fact that policymakers have fought it for centuries, price inflation survives untouched.

Once again, inflation is rising again around the world, and once again the United States is in the thick of it.

On Wednesday the Federal Reserve Board met to address the nation’s current economic malaise. Once again, Chairman Bernanke announced that he wouldn’t be lowering rates (that is, printing more money) this time.

“Although the downside risks to growth remain,” his statement said. “They appear to have diminished somewhat, and the upside risks to inflation and inflation expectations have increased.”

Good rhetoric, but I’m afraid it’s too late. The world is already awash in fiat dollars, and more are on the way for the same reason that Zimbabwe’s central bank keeps printing Zimbabwean dollars.

Where Does Hyperinflation Come From?

Johns Hopkins University economics professor Steve H. Hanke, in a research paper published last week about the Zimbabwean hyperinflation explained it:

“The source of Zimbabwe’s hyperinflation is the Reserve Bank of Zimbabwe’s money machine. The government spends, and the RBZ finances the spending by printing money. The RBZ has no ability in practice to resist the government’s demands for cash.”

It is no different in the U.S. The government borrows, and the Fed finances the borrowing by printing money. Like the Reserve Bank of Zimbabwe, the Federal Reserve has no real ability to resist the government’s demand for loans.

The late Nobel Laureate economist Friedrich von Hayek stated it bluntly more than 30 years ago in his essay, Denationalization of Money:

“Since the function of government in issuing money is no longer one of merely certifying the weight and fineness of a certain piece of metal, but involves a deliberate determination of the quantity of money to be issued, governments …, it can be said without qualifications, have incessantly and everywhere abused their trust to defraud the people.” [Emphasis added.]

So, be cautious as you dream of becoming a billionaire. With the help of central bankers, you may just get your wish. Don’t rely on their intelligence or knowledge of economic history to protect you, either.

Central banks are not the solution. Central banks are the instruments that defraud everyday consumers like you. Nor does it matter which candidate gets elected in November. Government spending will continue to increase, as will the central bank’s need to inflate the currency. To understand more about international currencies and the risks of paper-money inflation I encourage you to join The Sovereign Society.

Note: The piece above was written by John Pugsley, Chairman of the Sovereign Society and best selling author.

Looking for a safety valve for your money?

Would you like to know how the super rich defend themselves against the fraud of paper-money inflation?

Land rarely de-values and there are rock-solid methods for insuring that YOUR property never goes down. For methods on insuring that it goes UP, we encourage you to contact us. Yes, the U.S. real estate market has seen a correction. That slide of values probably isn’t over yet. However, smart money and REAL billionaires continue to invest, they just don’t put all their investments in one market. It is a world economy and the smart money is going to the Caribbean. For details on how you can ride on the coat tails of the super-rich, send an email to doug@springboardcorp.com.

Dear readers,

As you know, I have been investing for over 21 years, teaching for over 7 years, writing for 5 and on the radio for 4. In all that time, I have seen, been involved with and researched over 122 different developments across the US and the world. Many of these projects were good. A few were worth my time and my cash. There has never been one that has caused me to literally change me life, re-allocate my resources, sell off all my U.S. real estate and go “all in” on ANY deal. The very thought of it sounds nearly insane…

Until now.

You see, for the past few years, I have been watching and adjusting my portofolio as the U.S. real estate crash fell in around us. Like many developers, 2007 and early 2008 have not been banner years. I was not looking for a home run. I know that real estate is a quiet game of patience. Time+Patience+Money=Wealth. In my 21 years as a professional investor, I have never been bold enough to say that I have found the “Best Deal Ever.” A statement like that would mean that I would have to compare it to deals that I haven’t seen, as well. As a public speaker and radio show host, making a statement like that is dangerous to one’s reputation.

I am making that statement now.

You see, I HAVE found the best deal in the world. To prove it, I have sold off all my assets (Some even at a loss) in order to become MORE involved with this private island project which will definitely and dramatically maximize my wealth, my time, and my lifestyle.  I have taken a sabbatical from my Real Estate academy and decided to focus ALL of my resources towards a 300 acre, private island project in the Caribbean.

Am I the only crazy one? Hardly. Everytime I bring down a dozen or so investors, nearly each one of them comes back nearly as crazy as I do. Nearly all of them lose sleep at the massive potential of investing in this paradise and realizing millions of dollars in safe, secure, private and tax-deferred (or tax free) real estate.

I will tell you that there is NO WAY to explain this island, the opportunity, or the potential to you via words, email, or a phone conversation. Last year, I was as skeptical as you (Probably more). Last year, the owner of these islands made me a simple offer. He said, “Come on down. The worst that can happen to you is that you will have a terrific weekend in paradise and enjoy a few margarita’s on me. ” He went on, “However, if I am even half right, I will blow your mind and be instrumental in taking your 20 year retirement plan and accomplishing it in 3 years.”

Needless to say, that was worth a trip! For around a thousand bucks, I took a few days off and visited this project. I was well armed with my 21 years of experience and the knowledge that I have found things NOT to like about most projects presented to me. Dozens of developers with much more experience and marketing have been trying to impress me, so that I would share the deals with you. I thought this was just another one of those deals.

Boy was I wrong.

To find out more about the HUGE upside of this project, the international players involved (Including heads of state!) and how average people like yourself can TRULY become financially indepedent in a lot less time than normal, send me an email or give me a call. I will not try and “sell” you on the numbers. I won’t even be able to give them all to you. However, I will encourage you to take a weekend out of your life and see for yourself how incredible this project is. You truly won’t know until you put your feet in the sand and see the scope of what will become the crown jewel of the Caribbean in the next few years.

Please download the travel form or drop me a line. I have a few spots left for the upcoming trip and promise you a terrific time!

Click on Travel Form and view or download

Doug Crowe
dacrowe@earthlink.net
1-888-RE-COACH
1-888-732-6224

• “Credit problems? No problem!”
• “We can erase your bad credit — 100% guaranteed.”
• “Create a new credit identity — legally.”
• “We can remove bankruptcies, judgments, liens, and bad loans from your credit file forever!”

Don’t believe 99% of these statements. Only time, a conscious effort, and a personal debt repayment plan will improve your credit report. There are legitimate and LEGAL methods, agencies and programs to assist you. Filtering out the bad from the good takes skepticism and common sense.

Springboard is hosting a FREE credit repair workshop at its offices on November 12th or 13th at 7 PM CST. Be sure to register by calling 1-888-RE-COACH. The program will be approximately 30 minutes in length and available online. You can also register by going to www.springboardonline.com .

The Scam

Everyday, companies nationwide appeal to consumers with poor credit histories. They promise, for a fee, to clean up your credit report so you can get a car loan, a home mortgage, insurance, or even a job. The truth is, most can’t deliver. After you pay them thousands of dollars in fees, these companies do nothing to improve your credit report; most simply vanish with your money.

The Warning Signs

If you decide to respond to a credit repair offer, look for these tell-tale signs of a scam:

• companies that want you to pay a large amount of money for credit repair services before they provide any services.
• companies that do not tell you your legal rights and what you can do for yourself for free.
• companies that recommend that you not contact a credit reporting company directly.
• companies that suggest that you try to invent a “new” credit identity — and then, a new credit report — by applying for an Employer Identification Number to use instead of your Social Security number.
• companies that advise you to take any action that seems illegal. If you follow illegal advice and commit fraud, you may be subject to prosecution.

You could be charged and prosecuted for mail or wire fraud if you use the mail or telephone to apply for credit and provide false information. It’s a federal crime to lie on a loan or credit application, to misrepresent your Social Security number, and to obtain an Employer Identification Number from the Internal Revenue Service under false pretenses. Under the Credit Repair Organizations Act, credit repair companies cannot require you to pay until they have completed the services they have promised.

The Truth

No one can legally remove accurate and timely negative information from a credit report. The law allows you to ask for an investigation of information in your file that you dispute as inaccurate or incomplete. There is no charge for this. Everything a credit repair clinic can do for you legally, you can do for yourself at little or no cost. Doing it properly, consistenly, and with efficacy is what you need to look for. Most of us don’t have the experience or skills to accomplish this. Of the hundreds of companies that offer help, only a handful deliver. To manage, improve or repair your credit, register for our FREE credit workshop. Click here or go to http://www.springboardonline.com and get started. The workshop is on 12th or 13th at 7 PM CST. This workshop is available at NO COST and will walk you through the specific steps necessary to improve your credit. There will be credit coaching assistance available at a later date…THIS workshop is FREE! Remember, according to the Fair Credit Reporting Act (FCRA):

• You’re entitled to a free report if a company takes adverse action against you, like denying your application for credit, insurance, or employment, and you ask for your report within 60 days of receiving notice of the action. The notice will give you the name, address, and phone number of the consumer reporting company. You’re also entitled to one free report a year if you’re unemployed and plan to look for a job within 60 days; if you’re on welfare; or if your report is inaccurate because of fraud, including identity theft.
• Each of the nationwide consumer reporting companies — Equifax, Experian, and TransUnion — is required to provide you with a free copy of your credit report, at your request, once every 12 months.
  The three companies have set up a central website, a toll-free telephone number, and a mailing address through which you can order your free annual report. To order, click on annualcreditreport.com, call 1-877-322-8228, or complete the Annual Credit Report Request Form and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. You can print the form from ftc.gov/bcp/conline/edcams/credit/ . Do not contact the three nationwide consumer reporting companies individually. They are providing free annual credit reports only through annualcreditreport.com, 1-877-322-8228, and Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. You may order your reports from each of the three nationwide consumer reporting companies at the same time, or you can order your report from each of the companies one at a time. For more information, see Your Access to Free Credit Reports at ftc.gov/bcp/conline/edcams/credit/ .
  Otherwise, a consumer reporting company may charge you up to $9.50 for another copy of your report within a 12-month period.
• You can dispute mistakes or outdated items for free. Under the FCRA, both the consumer reporting company and the information provider (that is, the person, company, or organization that provides information about you to a consumer reporting company) are responsible for correcting inaccurate or incomplete information in your report. To take advantage of all your rights under this law, contact the consumer reporting company and the information provider.

STEP ONE

Tell the consumer reporting company, in writing, what information you think is inaccurate. Include copies (NOT originals) of documents that support your position. In addition to providing your complete name and address, your letter should clearly identify each item in your report you dispute, state the facts and explain why you dispute the information, and request that it be removed or corrected. You may want to enclose a copy of your report with the items in question circled. Send your letter by certified mail, “return receipt requested,” so you can document what the consumer reporting company received. Keep copies of your dispute letter and enclosures.

Consumer reporting companies must investigate the items in question — usually within 30 days — unless they consider your dispute frivolous. They also must forward all the relevant data you provide about the inaccuracy to the organization that provided the information. After the information provider receives notice of a dispute from the consumer reporting company, it must investigate, review the relevant information, and report the results back to the consumer reporting company. If the information provider finds the disputed information is inaccurate, it must notify all three nationwide consumer reporting companies so they can correct the information in your file.

When the investigation is complete, the consumer reporting company must give you the results in writing and a free copy of your report if the dispute results in a change. If an item is changed or deleted, the consumer reporting company cannot put the disputed information back in your file unless the information provider verifies that it is accurate and complete. The consumer reportincompany also must send you written notice that includes the name, address, and phone number of the information provider. If you request, the consumer reporting company must send notices of any correction to anyone who received your report in the past six months. You can have a corrected copy of your report sent to anyone who received a copy during the past two years for employment purposes.

If an investigation doesn’t resolve your dispute with the consumer reporting company, you can ask that a statement of the dispute be included in your file and in future reports. You also can ask the consumer reporting company to provide your statement to anyone who received a copy of your report in the recent past. You can expect to pay a fee for this service.

STEP TWO

Tell the creditor or other information provider, in writing, that you dispute an item. Be sure to include copies (NOT originals) of documents that support your position. Many providers specify an address for disputes. If the provider reports the item to a consumer reporting company, it must include a notice of your dispute. And if you are correct – that is, if the information is found to be inaccurate – the information provider may not report it again.

For more information, see How to Dispute Credit Report Errors at ftc.gov/bcp/conline/edcams/credit/ .

Reporting Accurate Negative Information

When negative information in your report is accurate, only the passage of time can assure its removal. A consumer reporting company can report most accurate negative information for seven years and bankruptcy information for 10 years. Information about an unpaid judgment against you can be reported for seven years or until the statute of limitations runs out, whichever is longer. There is no time limit on reporting: information about criminal convictions; information reported in response to your application for a job that pays more than $75,000 a year; and information reported because you’ve applied for more than $150,000 worth of credit or life insurance. There is a standard method for calculating the seven-year reporting period. Generally, the period runs from the date that the event took place.

For more information, see Building a Better Credit Report at ftc.gov/bcp/conline/edcams/credit/ .

The Credit Repair Organizations Act

By law, credit repair organizations must give you a copy of the “Consumer Credit File Rights Under State and Federal Law” before you sign a contract. They also must give you a written contract that spells out your rights and obligations. Read these documents before you sign anything. The law contains specific protections for you. For example, a credit repair company cannot:

• make false claims about their services
• charge you until they have completed the promised services
• perform any services until they have your signature on a written contract and have completed a three-day waiting period. During this time, you can cancel the contract without paying any fees

Your contract must specify:

• the payment terms for services, including their total cost
• a detailed description of the services to be performed
• how long it will take to achieve the results
• any guarantees they offer
• the company’s name and business address

Have You Been Victimized?

Many states have laws regulating credit repair companies. State law enforcement officials may be helpful if you’ve lost money to credit repair scams.

If you’ve had a problem with a credit repair company, don’t be embarrassed to report it. While you may fear that contacting the government will only make your problems worse, remember that laws are in place to protect you. Contact your local consumer affairs office or your state Attorney General (AGs). Many AGs have toll-free consumer hotlines. Check the Blue Pages of your telephone directory for the phone number or check www.naag.org for a list of state Attorneys General.

The information to repair your credit is available at NO CHARGE!

Springboard is hosting a FREE credit repair workshop at its offices on November 12th or 13th, at 7 PM CST. Be sure to register by calling 1-888-RE-COACH. The program will be approximately 45 minutes in length and available online. You can also register by going to www.springboardonline.com . We will give you the tools you need to repair your credit for FREE.

Need Help? Don’t Despair

Just because you have a poor credit report doesn’t mean you won’t be able to get credit. Creditors set their own credit-granting standards and not all of them look at your credit history the same way. Some may look only at more recent years to evaluate you for credit, and they may grant credit if your bill-paying history has improved. It may be worthwhile to contact creditors informally to discuss their credit standards.

If you’re not disciplined enough to create a workable budget and stick to it, work out a repayment plan with your creditors, or keep track of mounting bills, consider contacting a credit counseling organization. Many credit counseling organizations are nonprofit and work with you to solve your financial problems. But not all are reputable. For example, just because an organization says it’s “nonprofit,” there’s no guarantee that its services are free, affordable, or even legitimate. In fact, some credit counseling organizations charge high fees, or hide their fees by pressuring consumers to make “voluntary” contributions that only cause more debt.

Most credit counselors offer services through local offices, the Internet, or on the telephone. If possible, find an organization that offers in-person counseling. Many universities, military bases, credit unions, housing authorities, and branches of the U.S. Cooperative Extension Service operate nonprofit credit counseling programs. Your financial institution, local consumer protection agency, and friends and family also may be good sources of information and referrals. No matter what your situation is, you will benefit by registering for our FREE credit repair workshop on November 12th or 13th at 7 PM CST. Be sure to register by calling 1-888-RE-COACH. The program will be approximately 30 minutes in length and available online. You can also register by going to www.springboardonline.com . We will give you the tools you need to repair your credit for FREE. Coaching assistance will be made available at a later date for a nominal fee.

If you are considering filing for bankruptcy, you should know about one major change to the bankruptcy laws: As of October 17, 2005, you must get credit counseling from a government-approved organization within six months before you file for bankruptcy relief. You can find a state-by-state list of government-approved organizations at www.usdoj.gov/ust. That is the website of the U.S. Trustee Program, the organization within the U.S. Department of Justice that supervises bankruptcy cases and trustees.

Reputable credit counseling organizations can advise you on managing your money and debts, help you develop a budget, and offer free educational materials and workshops. Their counselors are certified and trained in the areas of consumer credit, money and debt management, and budgeting. Counselors discuss your entire financial situation with you, and help you develop a personalized plan to solve your money problems. An initial counseling session typically lasts an hour, with an offer of follow-up sessions.
For more information, see Knee Deep in Debt and Fiscal Fitness: Choosing a Credit Counselor at ftc.gov/bcp/conline/edcams/credit/ .

Do-It-Yourself Check-Up

Even if you don’t have a poor credit history, some financial advisors and consumer advocates suggest you review your credit report periodically

• because the information it contains affects whether you can get a loan or insurance — and how much you will have to pay for it.
• to make sure the information is accurate, complete, and up-to-date before you apply for a loan for a major purchase like a house or car, buy insurance, or apply for a job.
• to help guard against identity theft. That’s when someone uses your personal information — like your name, your Social Security number, or your credit card number — to commit fraud. Identity thieves may use your information to open a new credit card account in your name. Then, when they don’t pay the bills, the delinquent account is reported on your credit report. Inaccurate information like that could affect your ability to get credit, insurance, or even a job.

Sample Dispute Letter

Date
Your Name
Your Address
Your City, State, Zip Code

Complaint Department
Name of Company
Address
City, State, Zip Code

Dear Sir or Madam:

I am writing to dispute the following information in my file. The items I dispute also are encircled on the attached copy of the report I received.

This item (identify item(s) disputed by name of source, such as creditors or tax court, and identify type of item, such as credit account, judgment, etc.) is (inaccurate or incomplete) because (describe what is inaccurate or incomplete and why). I am requesting that the item be deleted (or request another specific change) to correct the information.

Enclosed are copies of (use this sentence if applicable and describe any enclosed documentation, such as payment records, court documents) supporting my position. Please investigate this (these) matter(s) and (delete or correct) the disputed item(s) as soon as possible.

Sincerely,
Your name

Enclosures: (List what you are enclosing)

The FTC works for the consumer to prevent fraudulent, deceptive and unfair business practices in the marketplace and to provide information to help consumers spot, stop, and avoid them. To file a complaint or to get free information on consumer issues, visit www.ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. The FTC enters Internet, telemarketing, identity theft, and other fraud-related complaints into Consumer Sentinel, a secure online database available to hundreds of civil and criminal law enforcement agencies in the U.S. and abroad.

Register for our FREE credit repair workshop on Nov. 12th or 13th at 7 PM CST. Be sure to register by calling 1-888-RE-COACH. The program will be approximately 30 minutes in length and available online. You can also register by going to www.springboardonline.com . We will give you the tools you need to repair your credit for FREE. Coaching assistance will be made available (At a later date) for a nominal fee at this workshop.

Our law firm has a short window of opportunity that GUARANTEES the $40,000 MDA incentive.  This incentive comes with a promise from the investor that requires you to hold the property for 5 years or longer, and fill out a 19-page application.

For those who are new to government paperwork, this could be a stumbling block.  Our law firm has agreed to handle all of this for us, as long as we act quickly.  If you missed last week’s presentation, click here for a replay or cut and paste one of the links below.

High speed link

http://www.springboardcorp.com/mediadepartment/sbevents/thegozone_101107_100k.wmv

Low Speed Link

http://www.springboardcorp.com/mediadepartment/sbevents/thegozone_101107_34k.wmv 

Deadline for submitting the package to our law firm is October 16th. Contact us for details at doug@springboardcorp.com or call 1-630-889-9900 for details.

All shows will continue to be available at www.dougcrowe.com.