What Is Considered Identity Theft?

Plainly put, Identity Theft is when anyone uses your name, social security number, credit card information or any personally identifying information as their own to commit a crime; including fraud. Identity theft takes many forms in the day and age of technology. It can range anywhere from someone simply verbally pretending to be you all the way to a complete theft of an identity including your social security number and credit history.

Continue reading
  1090 Hits

What is the Credit Repair Organizations Act?

The Credit Repair Organizations Act is a relatively new piece of legislature that is intended to protect consumers from predatory practices of companies masquerading as advocates for those struggling with debt.I wouldn’t go as far to officially call these guys con artists, but they absolutely have put an ugly black eye on the credit consulting industry.The prevalence of these detestable organizations called for the Federal Trade Commission to thankfully put into effect the Credit Repair Organizations Act.



What are the rules of the Credit Repair Organizations Act?


Continue reading
  935 Hits

What repossession means for your credit

Car repossession is a real nightmare. No really, it might be worse than you think. It can lead to paranoia, loss of job and sleepless nights. Sounds like one of those bad prescription drug commercials doesn’t it? If you’ve been through repossession you’re probably shaking your head in agreement as you read this right now.

Continue reading
  929 Hits

What you need to know about the Fair Credit Reporting Act

In a perfect world we would all have enough cash on hand to pay for everything we need up front. Obviously this is not reality and in one-way or another we all need credit. Whether it comes to financing a new car, buying a home or even simply having the basic necessities like water and power in your home, businesses will want to pull your credit to evaluated and be sure that you would make for a reliable customer. In the past, a consumer had very little control over how businesses would perceive them based upon their credit scores. Thanks to the Fair Credit Reporting Act we now have the power to understand, monitor, correct and control our credit information.

What is the Fair Credit Reporting Act?
The Fair Credit Reporting Act was passed to even the playing field between creditors and consumers. When consumers accept credit from a business, that consumer is essentially giving the business the power to make or break their credit history and affect all financial avenues of their life. We all make mistakes, and the Fair Credit Reporting Act allows us to manage and contain these mistakes. There are several different aspects of the Act but most importantly it gives consumers the power to control their financial past and future.

How do I know what information is being reported about me?
As of 2005 you have the ability to pull your credit information once a year at no cost and at no penalty to your credit score. To do this simply visit annualcreditscore.com and answer a few questions to have all of your current credit information displayed. Additionally any time that you apply for new credit or have any company, landlord or anyone else pull your credit report, you have the right to receive a copy of that report at no charge. As of currently a credit history is required to be shared, not a credit score; this you will typically have to pay for.

Is there anything I can do to fix wrong information?
If you receive your credit report and discover inaccurate or fraudulent information, the Fair Credit Reporting Act gives you the right to dispute these items. The quickest and most effective way to go about this is to submit a dispute letter to the company reporting the item as well as a letter to each of the three credit bureaus. These days, Experian, Equifax and TransUnion are converting this process to an online system to speed up this process. According to these new laws, your concerns must be acknowledged and researched in a timely manner. Once the company in question acknowledges a mistake be sure to have an official letter on company letterhead sent to you for your records, and be sure to send copies to the three credit bureaus as well.

I made some credit mistakes in the past, will these stick with me forever?
Thankfully no! Every derogatory item has a maximum time it is allowed to appear on your credit report. The lifespan of a 30-day late payment is different from, say, a bankruptcy but they each do have a specific timeline they are able to affect your score. Be sure to check the laws in your state as the timelines differ depending upon where you live. As soon as these derogatory items expire, be sure to have them removed. It’s your right!

Can just anyone look up my information?
Absolutely not. Your information is yours and only you have the right to share it with others. Your credit report will tell you each and every inquiry made on your credit report as each inquiry has the capacity to hurt your score a few points at a time. If you see any suspicious items on there, be sure to inquire as well. The Fair Credit Reporting Act also has given you the right to “opt out” of those obnoxious “pre-approved” credit offers that clog your mailbox.


 Be sure to visit www.ftc.gov/credit for more information on how to protect your credit score and for more information about the timeline for derogatory items on your credit report. Call Praxis Credit Consulting for your free consult go over how this will effect you.

  1814 Hits

DIY Credit Repair? Don't do it!


Some things should be left to the professionals; Credit Repair.


These days everyone from the mother of the kid you babysit, to the human resources guy at your interview, to your mortgage lender has you under his or her credit analysis microscope. Now more than ever it is important to have your credit in check to be sure that it represents you in the best possible light and to show you how you’d actually like to be seen. If you’re taking the time to worry about your credit you’re likely a responsible person with maybe a few mistakes in your past. Life is about learning from our mistakes and moving on, but unfortunately our credit isn’t quite as forgiving.


Continue reading
  2259 Hits

For an FHA or VA loan, do credit scores matter or not?


Both FHA (Federal Housing Agency) and VA (Veterans Administration) are types of loans secured by the United States, that’s for sure. But in order to get one of these loans you have to be approved by a bank or mortgage company first. This essentially is what makes the home financing process so difficult! Let me see if I can break it down.


Continue reading
  2414 Hits

How can I get out of my parents’ house?


Mom and Dad are great, but not necessarily the best roommates. Even if you have the best relationship imaginable with your family there are certainly disadvantages to still crashing in your childhood bedroom. It’s a little hard to bring over a special new friend on Friday nights and you can kiss any prospect of privacy goodbye.


Continue reading
  2190 Hits

Considering a Store Card for the Holidays?


Though the Christmas and holiday decorations have been slowly creeping up on store shelves for the past couple of months, the tinsel and evergreen is now front and center in just about every store. The holiday season is upon us! Everyone’s budgets are a bit tight this year but we still have all those gifts to buy no matter what the economy has to say about it. You’ll probably be tempted the next time you come face to face with a cashier, “would you like to save 15% by applying for a –insert store name here – card today?” Normally you’d just brush off this sales pitch but today that 15% and a deferred payment is sounding pretty tempting. Don’t do anything rash, wait a minute!


Continue reading
  2432 Hits

What are the long-term effects of a short sale?


Whether you’re considering a short sale or you’ve just gone through one, it’s time to take a deep breath and take stock of where you stand today. You’re clearly not the only one in the short sale boat. But do you ever get that feeling when everyone around you is going through something like a short sale, a yearly physical, sitting at the DMV, or filing taxes, that you have no idea how everyone is getting through this painful and frustrating experience? You know, that, “am I doing something wrong because this really sucks?” feeling? Then yea, you’re likely experiencing exactly what everyone else is going through.


Continue reading
  2097 Hits

Think speeding tickets only hurt your car insurance?


Desperate times call for desperate measures and cities around the nation are getting pretty desperate. Thanks to those speed monitoring camera vans and red light cameras, cities have been able to cite drivers in record numbers. If you’re like thousands of drivers you’ve probably thrown those tickets right in the trash – I mean – never received them. In the past you’ve likely gotten away with the “well they can’t prove I ever received it” excuse, but as strains on the economy pressure the state and city budgets you can bet that they will be trying a bit harder to collect. You still may not ever have a court server knocking at your door to hand you your ticket directly because hiring those guys cost some serious cash, so now you may just have your ticket sent to collections. Ouch.


Continue reading
  2156 Hits

Don’t think you need a credit counselor?


So you think you know how to fix your credit on your own? Thinking you’ll close your credit cards to boost your score? Not always. Well surely if you pay off that four-year-old collection account your credit will sky rocket right away! Probably not. Sounds crazy right? Well the way credit is scored IS pretty crazy and that’s why we are here to help.


Continue reading
  2093 Hits

Credit Restoration Companies Get A Bad Rap!


Why is it that all credit repair companies have a bad rap these days? The last time I checked Ruth’s Chris Steakhouse wasn’t getting yelled for a poorly cooked steak, or McDonalds making a bad burger!(well okay maybe that’s true – but you get the idea) Credit repair companies are not all created the same. Sure there are better companies than others but all credit counseling companies aren’t bad. Unquestioningly there have been some rotten burgers in the credit repair business, some so bad you’d have food poisoning for days, but the whole of the industry itself is out to help consumers - not hurt.


Continue reading
  2252 Hits

What Praxis Credit Consulting Can Do For You


Praxis Credit Consultants are expert counselors who can help you:

Fast Start to Repairing and rebuilding your credit

Straight out of the gun! With proven methods already in place to help you reach your goals as soon as possible. We dispute all the items that are misleading, obsolete, inaccurate or duplications on your reports. This provides the assurance to deliver the best value in the industry.


The advantage of having a credit coach

Many people are unclear on even how to read a credit report much less know where to start on the reporting problems. Since the credit problems are usually hard to spot we offer a free credit consult to help provide you with the information on which items need to be disputed. We help you identify even the most subtle dispute items to create a solid plan of attack so that you can reach your goals of higher credit in no time.


Continue reading
  2901 Hits

Is Your Credit Crap?

Crappy credit is our specialty! You say the word and we can help you turn your financial outlook around!  At Praxis Credit Consulting we help our clients put those ugly credit mistakes in their past and move forward to a positive financial future. It is time to take control of your finances and never get another pestering collection call again!

Continue reading
  1424 Hits

Don’t Hide From Your Credit Mistakes!


It may be easier now to hide your head in the sand and try to forget those ugly blemishes on your credit report, but it won’t fix the problem. As a matter of fact it is probably making them exponentially worse. It is time to start digging yourself out of that credit nightmare before it becomes hopeless.


Continue reading
  1369 Hits

Does Your Credit Make You Want To Cry?

Dry your tears! Praxis Credit Consulting has the solution. Don’t go day to day worrying about the next time you have to explain away your ugly credit. We can help you clear up your credit history and set you on your path to rebuilding a positive credit rating that will have you smiling your way to low interest rates and simple qualifications.

Continue reading
  1554 Hits

Proposed Legislation to Reduce Impact of Medical Debt on Credit Reports

Medical debt in most cases is unavoidable. In a lot of cases so are huge knocks against otherwise spotless credit histories.  Dealing with the convoluted mess of juggling health insurance companies, doctors’ office billing departments, and hospitals it is easy to lose track of a bill or forget to make a payment. New legislation is now in the works to have collections, which originated as medical debt, to fall under its own category on credit reports to be scored differently than non-medical collections.


This new bill dubbed the Medical Debt Responsibility Act is currently under consideration in the House of Representatives and could potentially help trustworthy borrowers qualify for a home loan by lowering the impact of medical collections on their credit reports. Currently the bill is co-sponsored by Representative Donald Manzullo (R-Illinois.) Representative Heath Shuler (D-North Carolina), and Representative Ralph M. Hall (R-Texas).


The Medical Debt Responsibility Act calls for the three major credit bureaus (Experian, Equifax & TransUnion) to change the way medical debt affects a credit score. Currently the three bureaus report any and all medical collection information for the maximum allowed duration as with any other collection information; seven years, whether it remains unpaid or not. The Medical Debt Responsibility Act would require that all medical collection debt under $2,500 be omitted from credit records within 45 days of being paid or settled upon.

Continue reading
  934 Hits

Knowing Your Credit Score is Easier than Ever

The recent economic downturn has everyone finger pointing to establish blame in hopes of correcting the circumstances that created this spiraling situation. One of the most widely accepted culprits named have been the far too lenient standards for lending on real estate loans, which has led to millions of foreclosures and short sales across the country. The Dodd-Frank Wall Street Reform and Consumer Protection Act, dubbed the Dodd-Frank Act for abbreviations sake, was signed into law in 2010 to among many other things, begin the process of cleaning up the lending industry.



Since the enacting of the Dodd-Frank Act under a provision known as the “Risk-Based Pricing Rule”, consumers have been empowered with the ability to access their credit information without fee or penalty if declined or extended less than favorable terms. As of July 21st, 2011 consumers who were never declined for a loan or those who have received even the most favorable terms have the right to request their own credit reports as well. Essentially any consumer applying for credit under any terms has the right to see their credit reports and without a fee.


Continue reading
  934 Hits

Privacy Policy



Praxis Credit Consulting Services LLC (“Praxis Credit” or “we” or “our” or “us”) respects your privacy as a visitor to our Site. It is important for you to understand what information we collect about you during your visit and what we do with that information. Your visit to this Site is subject to this "Privacy Policy" and our Terms of Use.

Information Collection and Use

Praxis Credit Consulting will not use information provided through your use of this Site except as set forth in this Privacy Policy.



Continue reading
  1900 Hits

The Praxis Credit Consulting difference


The Praxis Credit Consulting difference…

Our People.

At Praxis Credit Consulting you will immediately notice a difference with our impeccable customer service. We treat our customers with the respect they deserve because we know what you have been experiencing.


Our employees go through extensive training not only in reading credit reports but the laws that govern them; they are motivated to help you with your credit challenges, and friendly to better serve your needs. At Praxis Credit Consulting we are like family so we will do everything we can to help you and your credit hurdles.


Continue reading
  2277 Hits
Web Analytics