Can I speak to someone at Second Chance before I sign up?

Yes. The first step is to call or email one of our credit counselors for a free consultation. One of our experienced representatives will go over what credit problems you have experienced in the past and the goals that you have in the future. You can call (800) 222-0233 to ask any questions that you may have so that we can determine the best strategies to raise your credit scores.

How long has Second Chance Financial been in business ?

We have been in the credit repair and debt negotiation business since 1988. In fact, most of our staff has been with the company for over eleven years. Our experience and dedication to our clients is what has set us apart from other companies.

How are you different than other credit repair companies ?

Our personal attention is where we start. We will give you a free consultation to determine what kind of credit problems you have had in the past. We will review your credit reports to see exactly what you need help with. If you decide to get started with our program, we have an experience processing staff that works hand and hand with you in raising your credit scores. We don’t stop there! One of the major differences with Second Chance is working with your positive credit. Your credit scores are not just determined on your negative credit, but also on your positive credit. We will take a look at your positive credit to determine how to maximize your credit scores. If you don’t have any positive credit, we will guide you through the process on how to build your credit step by step. It will not do you any good to clear up your credit if you don’t have any positive credit.

I am looking to buy a house and a car in the future. Do you have anyone you can recommend me to ?

Yes. This is where our longevity in the business helps our clients. We have developed relationships with some of the top lenders and automobile dealerships around. We would be happy to refer you to one of them in your area.

What if I have family members or friends that are interested in your service?

You can have them contact the representative that got you started. Once they do that, we would be happy to give them a free consultation. If they do get started with our program, you will receive a referral fee. Some of our clients have paid for their service with the referrals that they have sent us.

What factors affect credit scores ?

Your credit scores are determined from credit information on your credit report. This information can be broken up into five categories. These categories are Payment History, Amounts Owed, Length of Credit History, New Credit, and Types of Credit Used. Each plays an important part in determining your credit scores. They all work hand in hand. Here is an estimate of each factors importance and what is included in each category.

  • Payment History (35%). The history consists of account payment information on certain types of accounts such as credit cards, retail accounts, installment loans, installment loans such as automobile loans or furniture, finance company accounts, or mortgages, etc. It also includes the presence of adverse public records such as bankruptcy, judgments and tax liens. Your report also shows collection items, charged off accounts, and late payments. Your payment history for these items consist of how many items there are, the severity of delinquency (how long past due), and the amount past due on delinquent or collection items. The number of accounts that are paid as agreed is also a factor in payment history.

  • Outstanding Debt (30%). The amounts owed will show the number of accounts with balance and the amounts owing on these accounts. It will also show the percentage of credit lines used and the percentage of installment loans still owing. High balances can affect your score, so try to keep your balance below 30% of the available credit. The number of accounts with balances can also affect your score.

  • Length of Credit History (15%). This includes the time since accounts opened, the time since accounts opened by specific type of account, and the time since account activity.

  • Types of credit being used (10%). This is the number of various types of accounts. This can include mortgages, credit cards, retail accounts, installment loans, etc.

  • New Credit (10%). This is the number of recently opened accounts the proportion of accounts that were recently opened by type of account, and the number of recent credit inquiries. Also included is the time since recent account openings and the time since credit inquiries were made. Re-establishment of positive credit history following payment problems you had in the past will also be included in this category.