Credit Repair Companies – Can You Afford to Trust Them?

FORT LAUDERDALE, FLORIDA — In the worst-case scenario, a “credit repair company” could be a “fly by night operator,” who will meet the intended victim at any place but their office, take their money and never be seen again. Still there are other companies who “help” by deleting a few adverse credit entries in a credit report using generally known techniques of dispute but leaving most of the negative entries just as bad off as before they started. Often times this can be worse, leaving the client financially poorer and not at all accomplishing the goal of achieving a good credit rating or at the very least resolving their credit card debt.
Even with the best of intentions, in most cases there is not much that the credit repair firm can do, due to their limited knowledge and resources for handling difficult bad credit issues. Most of these companies only know how to, as one credit repair practitioner put it, “We bombard the credit bureaus with letters.” They don’t have a clue as to proper procedure to really address an issue to resolve it, so instead, they antagonize the credit bureaus, which is why so many of these companies give anyone dealing with credit issues a bad name; regardless of how much knowledge or integrity they demonstrate.
The good news is that there is a professional and meticulous company that can handle all types of credit debt problems, with the knowledge and experience of knowing how to handle those issues in a manner consistent with the needs of the client. This firm is Frederick David & Associates.
The firm’s president, Frederick David, is a credit expert, an Arbitrator as well as a Certified Civil Court Mediator. He doesn’t just read a credit report, he does a thorough credit check by analyzing each entry, discusses with the client what is being reported, and determines the best course of action to take, to look into and resolve any issue affecting their good credit that is lowering their credit scores. This firm does have the experience and knowledge of how to handle all types of negative credit history concerns.
Frederick David’s first question to a new client is, “What brings you to me at this time?” What is it that leads you to want to restore your credit now? The credit restoration process now has a focus, to help that person restore their credit profile so they can achieve their goals. Mr. David also provides them with additional credit help through credit counseling, to help them maintain their good credit rating after the adverse credit issues have been resolved.
Being a well-organized professional, Frederick David keeps an impressive file of clients’ letters thanking him for the work he has done in their behalf, and speaking of the home they have now qualified for, or the car they have just purchased.

Frederick David & Associates also handles issues for clients facing the possibility of Foreclosure, including Short Sale, Loan Modification, and other alternatives to Foreclosure.

For more information on credit reporting issues call Mr. David at (954) 565-9300, e-mail him or visit the company website at or ask for an appointment to see him in Broward County at 3471 N. Federal Highway, Suite 510, Fort Lauderdale, Florida 33306.

Six Tips to Help Manage Debt – and Maintain Financial Health

CLEVELAND, March 23, 2015 /PRNewswire/ – Financial health doesn’t require living debt free. According to the Consumer Financial Protection Bureau, there is nothing wrong with having debt as long as you manage your debt responsibly and are not overwhelmed by the amount of debt you’ve accrued.

The tipping point varies when it comes to managing debt and having debt manage you. Generally speaking, however, it’s best to have a low debt to income ratio, or DTI. DTI refers to the percentage of debt – your total monthly loan payment – to your monthly income before taxes.  You should aim to keep your DTI at 40 percent or less, particularly if you want to qualify for a loan with low interest rates. 

Feel as if you’ve past your personal debt tipping point? KeyBank has some suggestions to help you regain your balance:

  1. Scrutinize your spending habits, focusing on what you buy because you want it, and not because you need it. Consider how often you use credit to buy those extras, and whether you should reserve credit cards for major, significant purchases you can pay off promptly.
  2. Create a budget, and stick to it. Consider tapping online and mobile banking  tools that make it easy to check account balances and transactions.  
  3. Regain control of credit card debt with a debt elimination plan so you make steady progress toward reducing card debt. Tackle your high interest cards or your low balance cards and pay as much as you can on those cards while making minimum payments on other, lower interest or higher balance cards.
  4. Consider debt consolidation and talk to your banker about your specific situation; consolidation might increase the amount of time and money spent to eliminate debt. Once you’re comfortable with your credit card account balances, pick one card to cover unexpected necessary expenses and pay cash or use your debit card for the rest.
  5. Build an emergency fund so you can choose between tapping credit or your emergency fund for unexpected major expenses. Allocate extra income – a bonus or pay increase – toward eliminating debt or boosting your emergency fund.
  6. Be patient.  Regaining control over debt takes time. But the wait is worth it.

This material is presented for informational purposes only and should not be construed as individual tax or financial advice. Please consult with legal, tax and/or financial advisors. KeyBank does not provide legal advice.

About KeyCorp

Key traces its history back more than 160 years and is headquartered in Cleveland, Ohio. One of the nation’s largest bank-based financial services companies, Key has assets of approximately $93 billion. Key (NYSE: KEY) provides deposit, lending, cash management and investment services to individuals, small and medium-sized business under the name KeyBank National Association. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name.

For more information about Key, visit, or follow Key on Twitter at @KeyBank_News and @KeyBank_Thrive.

Banking products and services are offered by KeyBank National Association. is a federally registered service mark of KeyCorp. ©2015 KeyCorp. KeyBank is Member FDIC

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