Credit Restoration Service Agreement
This agreement is between VelosifyCredit LLC, of 1046 Princeton Dr Waterford MI 48327
(“VelosifyCredit,” “we,” “us”) and the
client identified in the enrollment form (“you”).
1. Services we will perform. We will:
- obtain and review your credit files from the three nationwide consumer
reporting agencies;
- identify items that appear inaccurate, incomplete, outdated,
duplicated or unverifiable;
- prepare and send dispute correspondence to those reporting agencies
and, where appropriate, directly to the furnishers of the disputed
information;
- review each response received, and escalate or re-dispute items that
are returned as verified without adequate substantiation;
- keep a record of every item disputed and every response received,
visible to you in your client portal.
2. What we will not do. We will not dispute information
that is accurate, current and verifiable. We will not create a new credit
identity, advise you to misrepresent your credit history, or make any
statement to a consumer reporting agency that is untrue or misleading.
3. Timeline. Consumer reporting agencies generally have 30
days to investigate a dispute. A typical case runs approximately three to
six months from the date your documents are complete. We cannot control
how quickly a reporting agency or furnisher responds.
4. No guarantee of results. We do not guarantee that any
particular item will be removed, or that your credit score will change by
any particular amount. Any statement to the contrary, by anyone, is not
part of this agreement.
5. Your obligations. You agree to provide accurate
information, to upload the intake documents we request, and to forward us
correspondence you receive from the reporting agencies or furnishers
during the engagement. Delays in providing these will delay the work.
6. Fee. The total fee for the program described above is
$997. This is a one-time charge. There are no monthly
fees, no per-deletion charges and no renewal.
7. Cancellation. You may cancel this contract without
penalty or obligation at any time before midnight of the
3rd business day after the date you signed it.
To cancel, send written notice to
[email protected], or by mail to 1046 Princeton Dr Waterford MI 48327.
A cancellation notice is also available in your client portal. If you
cancel within this period, you will receive a full refund.
8. Privacy. Documents you upload are stored securely and
are used only to perform the services described here. We do not sell your
personal information. See our privacy policy for the full detail.
9. Governing law. This agreement is governed by the laws
of the state in which VelosifyCredit LLC is organized, without
regard to its conflict-of-laws rules.
Consumer Credit File Rights Under State and Federal Law
You have a right to dispute inaccurate information in your credit report by
contacting the credit bureau directly. However, neither you nor any
“credit repair” company or credit repair organization has the
right to have accurate, current, and verifiable information removed from
your credit report. The credit bureau must remove accurate, negative
information from your report only if it is over 7 years old. Bankruptcy
information can be reported for 10 years.
You have a right to obtain a copy of your credit report from a credit
bureau. You may be charged a reasonable fee. There is no fee, however, if
you have been turned down for credit, employment, insurance, or a rental
dwelling because of information in your credit report within the preceding
60 days. The credit bureau must provide someone to help you interpret the
information in your credit file. You are entitled to receive a free copy of
your credit report if you are unemployed and intend to apply for employment
in the next 60 days, if you are a recipient of public welfare assistance, or
if you have reason to believe that there is inaccurate information in your
credit report due to fraud.
You have a right to sue a credit repair organization that violates the
Credit Repair Organization Act. This law prohibits deceptive practices by
credit repair organizations.
You have the right to cancel your contract with any credit repair
organization for any reason within 3 business days from the date you signed
it.
Credit bureaus are required to follow reasonable procedures to ensure that
the information they report is accurate. However, mistakes may occur.
You may, on your own, notify a credit bureau in writing that you dispute the
accuracy of information in your credit file. The credit bureau must then
reinvestigate and modify or remove inaccurate or incomplete information. The
credit bureau may not charge any fee for this service. Any pertinent
information and copies of all documents you have concerning an error should
be given to the credit bureau.
If the credit bureau’s reinvestigation does not resolve the dispute to
your satisfaction, you may send a brief statement to the credit bureau, to be
kept in your file, explaining why you think the record is inaccurate. The
credit bureau must include a summary of your statement about disputed
information with any report it issues about you.
The Federal Trade Commission regulates credit bureaus and credit repair
organizations. For more information contact:
The Public Reference Branch
Federal Trade Commission
Washington, D.C. 20580
You may also cancel by emailing
[email protected].
Any written notice sent before the deadline is effective, whether or not it
reaches us by then. A printable copy of this form is always available at
/legal/notice-of-cancellation
and in your client portal.
You may wish to consult the Consumer Financial Protection Bureau or your
state’s Attorney General regarding your rights under state law. See our
state disclosures.