Hi Score, Inc. is so confident that you will find this product useful in correcting your credit information and successfully improving your credit score that we back our product with a 30-Day, money back guarantee.
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Common Questions
Why should I repair my credit?
Nowadays, with identity theft rampant and possibility of data entry errors it is a high probability that your credit report contains entries that do not belong to you. Incorrect items on your credit report will negatively impact your overall credit score which in turn will cost you thousands of dollars of interest when you get loans for your car or house. The better your credit score, the more favorable interest rates you will receive from the banks and lenders, which means direct savings to you.
Why is my credit score so important?
Banks, lenders and credit card issuers use the credit score as a universal means of assessing your credit risk and credit worthiness. The credit score is calculated by the three major credit reporting bureaus (TransUnion, Experian and Equifax), and is a reflection of several factors, including your past payment history, on time payment record, amount of loans you have, etc. When your credit score is high, lenders are willing to issue loans to you at lower interest rates. And the lower the interest rate, less money you will pay in interest on your loan. On a big purchase like a car or a house, relatively small reductions in interest rate could mean thousands of dollars in savings to you. In addition, some people with excellent credit scores can even qualify for a no money down mortgages.
How can I repair my credit report?
There are three common ways to repair your credit report:
- hire a lawyer
- hire a credit counseling company
- do-it-yourself.
Hiring a lawyer can be extraordinarily expensive at rates of over $300 per hour of work. Hiring a credit counseling company typically costs upwards of $1,500, and can be risky as there are many credit counseling companies with shaky reputation which make big promises, but in reality just take advantage of customers without any real results. That is why the Federal Trade Commission has issued a consumer warning on this topic and has strongly suggested to consumers to adopt a do-it-yourself approach. The issue until now has been that there were no comprehensive resources as to what exactly you need to do as a consumer to correct your credit report. With the Hi Score Program being released to the market, the guesswork is over, and everyone has affordable and easily understandable and practical tools to repair their credit.
Why do-it myself?
Hiring a reputable credit counseling company to assist you in correcting your credit report could cost you upwards of $1,500. However, there are many firms that make big claims but do nothing to help you. Hundreds of thousands of dollars in fees are lost each year by consumers choosing the wrong credit counseling company. For a substantial fee, these credit counseling companies claim the ability to repair your credit with a snap of a finger. Unfortunately, many of these companies are a fraud or shaky reputation at best - they do nothing to improve your credit report and disappear with your money. The Federal Trade Commission (FTC) puts out a brochure titled, "Consumer Tips: Self Help May Be Best". In that article FTC strongly recommends that consumers not take the risk of hiring someone and save their money. They further suggest that consumers educate themselves with the repair process and take the responsibility of repairing their credit into their own hands.
Is credit repair legal?
Repairing incorrect items on your credit report is perfectly legal. In fact, the credit reporting bureaus encourage it because it usually helps them detect fraud. One thing you cannot do however is remove negative comments from your record if they are accurate. Here's the official word directly from the FTC:
"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." — Federal Trade Commission
What is your refund policy?
We are so confident in the value of our product that we offer a 30 Day, money back guarantee. We believe that you will use our product for years to come, continue protecting your valuable credit score, and therefore save money on interest However, if you are not completely satisfied with the Hi Score Program, you can return it within 30 days of the postmark date on your shipment, and we will promptly issue a full refund to you (less shipping and handling).
How much does bad credit cost?
Most people are not aware of just how much a bad credit score can impact the interest that they pay on loans and credit cards. Unfortunately, bad credit does cost you real money. You can use the examples below to get a better understanding of what your credit score may be costing you.
Buying a home
The cost of bad credit is most evident and most expensive when a large ticket item is being purchased. For most people, that is the purchase of their dream home. Here, a bad credit can really hurt you. If you have poor or bad credit score, you will end up paying between $66,000 and $99,000 more in interest than if you had an excellent credit score (that is approximately $2,000 to $3,000 of interest per year that can be saved by simply correcting your credit score). Here's an example on a $200,000 mortgage paid over 30 years to illustrate this.
Example: $200,000 house mortgage paid over 30 years:
| Credit status |
Interest rate |
Monthly payment |
Extra interest paid
over the 5 years |
| Excellent |
7% |
$1,331 |
$0 |
| Poor |
9% |
$1,609 |
$66,140 |
| Bad |
12% |
$2,057 |
$99,019 |
Buying a car
If you have bad credit and have obtained a loan to purchase your car, your interest rate will be much higher and you'll end up paying $3,000 to $6,000 more in interest than you would have if your credit score was good. This added interest shows up every month in form of a higher monthly payment. The example below illustrates this on a typical $25,000 car loan paid over 5 years.
Example: $25,000 car loan paid over 5 years:
| Credit status |
Interest rate |
Monthly payment |
Extra interest paid
over the 5 years |
| Excellent |
8% |
$507 |
$0 |
| Poor |
12% |
$556 |
$2,952 |
| Bad |
16% |
$608 |
$6,062 |
Credit Cards
Consumers with bad credit in most instances cannot obtain the prime credit cards. These are the cards with reasonably attractive interest rates, payment terms and credit limits. So, consumers with bad credit are typically relegated to so-called "sub-prime" credit cards. These cards typically require exorbitant setup fees (or recurring monthly fees), offer very low credit lines, often require cash deposits, and in most cases do not report your positive credit activity to the credit bureaus.
Is it possible to remove bankruptcy?
Any negative listing can be removed from a credit report if it is erroneous, questionable and disputable. However, negative items such as bankruptcy and unpaid debts are more difficult to remove from the credit report. This is primarily due to the operational systems of the credit bureaus rather than with the severity of the bad credit item such as bankruptcy or unpaid debt. For example, judgments and tax liens are also severely negative listings yet have been considerably easier to remove.
Does paying off past-due accounts neutralize their negative status?
Unfortunately the answer is no. Once-delinquent, past-due accounts still show up as severe negatives even if they have subsequently been paid off. It's important to note that credit reports don't just show your current credit situation, but they also show what your credit situation has been in the past. Therefore, past delinquency, collection activity or a charged off listing does a great deal of damage to the credit score even if it was paid off.
Does bankruptcy wipe the slate clean for a second chance?
The bankruptcy does appear on your credit record in the court records section. When you file for bankruptcy, every credit account that you decide to include in bankruptcy becomes an "included in bankruptcy" account. Because so many negative items are attached to the bankruptcy, it becomes very difficult to remove all trace of that bad credit.
Do negative items remain listed for at least 7 years?
The law states that negative listings can appear on your credit report for no longer than seven years. In addition, the credit grantor or the credit bureau itself can choose to delete the negative credit listing as they see fit.
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