- Our Vision
- Credit Scores
- How are Credit Scores Calculated?
- Credit Scores Make a Difference
- Score Reason Codes
RMCN is a Credit Services Organization that specializes in Credit Restoration and Education. I started developing this credit restoration process in late 1997, after I too had credit problems. After settling all of my bad debts, I realized that these settled accounts were still on my credit report and affecting it in a negative way. After reviewing Federal and State Laws and Statutes, including the Fair Credit Reporting Act and the Fair Debt Collection Practices Act, I realized that many of the accounts on my credit report contained inaccuracies. I then started investigating the creditors and the credit reporting agencies. I demanded that they either verify the information that they had reported as 100% accurate or DELETE it! Over the next few months I was astonished with the inaccuracies that had surfaced and were subsequently DELETED. Over the next several years I helped many friends and family members get several items DELETED including: BANKRUPTCIES, TAX LIENS, JUDGMENTS, SLOW PAYMENTS, CHARGE-OFFS, FORECLOSURES and COLLECTION ACCOUNTS. After seeing the results that I achieved for them, I realized that I could help anyone with credit issues.
After living with less than perfect credit for a period of time, I know what it is like not being able to use credit as a financial tool. I want to assist as many people as possible to regain this vital tool for life, GOOD CREDIT. You do not have to live with inaccurate bad credit. We will help you improve your credit rating by improving the accuracy of your credit report and educate you on how to maintain your restored credit.
Founder and CEO
RMCN Credit Services
The way you have handled credit in the past may indicate how you will manage credit in the future. Credit scores cannot predict with certainty how you will manage credit, but they do provide an objective estimate of how likely you are to repay on time and according to terms.
Your credit report is the basis of your FICO® score. The report details your credit history as it has been reported to the credit reporting agency by lenders who have extended credit to you, by court records and by you. The FICO score analyzes information from the trade line, inquiry, public record and collection sections of your credit report.
A FICO score evaluates five main categories of information in your credit report, and compares this information to the patterns in hundreds of thousands of past credit reports.
These five categories are:
Payment history — what is your track record? 35 % of the score
Amounts owed — how much is too much? 30% of the score
Length of credit history — 15% of the score
New credit — are you taking on more debt? 10% of the score
Types of credit in use — is it a healthy mix? 10% of the score
About Credit scores
One credit bureau score is often called a “FICO score” because its credit scores are produced from software developed by Fair, Isaac and Company. Credit scores are provided to lenders by the three major credit reporting agencies: Equifax, Experian and TransUnion.
These scores provide the best guide to future risk based solely on credit report data. The higher the score, the lower the risk. But no score says whether a specific individual will be a “good” or “bad” customer. And while many lenders use scores to help them make lending decisions, each lender has its own strategy, including the level of risk it finds acceptable for a given credit product. There is no single “cutoff score” used by all lenders and there are many additional factors that lenders use to determine your actual interest rates. However you can now see what interest rates lenders typically offer consumers based on score ranges.
- Here are the top 10 most frequently given score reason codes. Note that the specific wording given by your lender may be different:
- Serious delinquency
- Serious delinquency, and public record or collection field
- Time since delinquency is too recent or unknown
- Level of delinquency on accounts is too high
- Number of accounts with delinquency is too high
- Amount owed too high on accounts
- Ratio of balances to credit limits on revolving accounts is too high
- Length of time accounts has been established is too short
- Too many accounts with balances.
Please provide the information below to receive your free credit report evaluation and free credit repair information: