Attorney General Masto Encourages Use of Free Credit Restoration Programs


March 4, 2014

Home Again Home Owner Relief Program Provides free assistance to Nevada residents

    LAS VEGAS – Nevada Attorney General Catherine Cortez Masto urges Nevadans to learn about no-cost program options available to help them in rebuilding their credit following a major life event such as a foreclosure or short sale, trouble making mortgage payments for a prolonged period of time, or job loss.

      “A poor credit score can affect the likelihood of obtaining new loans, insurance rates, deposits for utility services, renting a home and even job opportunities,” said Masto. “While some Nevadans have slowly begun to recover from the economic crisis, many are still in need of assistance. Home Again can help you with the detrimental financial effects that can continue to impact credit ratings long after a foreclosure.”

        In order to re-establish credit, consumers must save money and work diligently to rebuild their credibility with lenders. Some ads promise to “erase bad credit” or “remove bankruptcies, judgments and bad loans from a consumers credit file forever.” However, these services are often scams and can result in further financial trouble for their victims.

          “The first thing consumers should know is that legitimate debts cannot legally be removed from a credit file,” emphasized Michele Johnson, President of Financial Guidance Center (FGC), the Nevada non-profit that administers the Home Again Nevada Homeowner Relief Program.

            She continued, “You can improve your credit report legitimately, but it takes time and a conscious effort. Financial Guidance Center can help consumers determine the best course of action to restore their credit.”

              FGC recommends the following steps to begin the process of re-establishing and restoring credit:

              • Obtain a free annual copy of your credit report by visiting www.annualcreditreport.com
              • Review your credit report to ensure all reported transactions belong to you and current information are being reported
              • Dispute any incorrect or obsolete transactions reported on the credit report
              • Establish a repayment plan with creditors for any outstanding debts, including collections
              • Make payments on time
              • Contact the nonprofit Financial Guidance Center at 1 (800) 451-4505 for information regarding Lending Circles, a program designed to provide a zero-interest loan while establishing or re-establishing credit

                Attorney General Masto emphasized, “Credit restoration assistance is just one service available to all Nevadans free of cost through the Home Again program.”

                  The Home Again Nevada Homeowner Relief Program facilitates consumer access to free financial and housing resources, including credit restoration programs.

                    The Home Again Program was created by Nevada Attorney General Catherine Cortez Masto to assist Nevadans experiencing housing and financial difficulties as a result of the economic crisis. Home Again is a one-stop shop for information, providing consumers with information and assistance free of cost. Assistance is available in both English and Spanish. More information about the Home Again Program is available by phone at 1 (866) 457-4638 or online at www.HomeAgainNevada.gov.

                      About Financial Guidance Center
                      Consumer Credit Counseling Service of Southern Nevada, Inc. D/B/A Financial Guidance Center (FGC) is an IRC 501(c)(3) nonprofit organization serving the residents of the State of Nevada since 1972. An accredited agency by both the United Way of Southern Nevada and the United Way of Northern Nevada and the Sierra, FGC prides itself as being the ultimate “one-stop shop” for all Nevadans – developing, through behavior-oriented financial education, counseling, coaching, and access to additional financial stability and asset-development programs and resources, the capability for consumers to build, obtain and maintain assets as they work toward financial stability and develop resources to withstand economic shocks.

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