This Credit Restoration Educational Service Contract between National Credit Educational Services, Inc. (ï¿½NCESï¿½) and the undersigned ï¿½Clientï¿½ (refers to each Individual and in the case of a couple, each Individual is a Client) is for the purpose of purchasing credit restoration educational documents (the "Educational Program") and certain defined services. The Educational Program will assist you in understanding bankruptcy, guidelines and examples of draft letters for transmittal to creditors hardship letters pertaining to inability of making timely payment on the terms and conditions established by the credit, draft templates for responding to claims asserted by a collection agency or law firm retained by creditor for debt collection services, educational materials explaining the Fair Isaac Corporation (ï¿½FICOï¿½), a behavioral model used by Lenders, Creditors, Employers, Insurance Companies, etc. in determining creditworthiness, educational materials for applying for residential mortgage for primary residence, educational documents for how to successfully re-establish credit after bankruptcy, a template budget worksheet with commentary to be used from the onset of this program to give you a benchmark for what is realistic and in determining your priorities as you create a foundation for future of handling of your income to fulfill your financial goals. Additionally, NCES will provide ï¿½Servicesï¿½ of obtaining your credit history, researching the data, preparing correspondence related to any discrepancies and sending to credit reporting agency to request removal of erroneous, incomplete, outdated, misrepresented, or unverifiable information that appears on the credit history report. This is not a debt consolidation or bill payment program. Further, the educational materials and Services rendered pursuant to this Service Contract are not intended to be nor should they be construed to be a legal opinion or a substitute for a legal opinion with respect to any area of law, including but not limited to, bankruptcy. Federal law requires that any unverifiable, outdated, incomplete or erroneous information must be removed from consumer credit reports by the credit reporting agencies. NCES agrees to use its best efforts to provide these Services, and will perform them in accordance with federal and state laws.
The Client understands that there will be a fee for the Credit Report Analysis/Educational Materials of $349.00 per Individual (i.e., $698.00 for a couple) of which $100.00 per Individual is non-refundable and is due and owing at the time this Contract is signed. NCES will not commence any work prior to receiving a fully executed contract by each Individual, at least one half of the payment for each Individual Client (i.e., $175.00) per Individual, a copy of valid social security card and proof of actual address of residence in the form of utility bill or the equivalent thereof. Notwithstanding the foregoing, NCES offers a split-payment arrangement under which the first $175.00 is due upon signing of this Contract and the remainder is due within 30 days of the date of execution of the Contract. Any Client who takes advantage of the split-payment arrangement will also be charged an additional processing fee of $11.00 per Individual, which will be due and payable thirty (30) days after the execution of the Contract. If NCES does not receive timely payment of the second and final installment of $185.00, the Client understands and agrees that NCES shall not be liable for any of the Services it committed to undertaking. In the event a check is declined, an additional $30.00 declined check fee will be added to the Clientï¿½s balance due. In the event the client chooses not to pay the second payment and proceed with services, the Client will be entitled to keep all educational materials given to Client at the time of execution of the Contract or via the educational information on the website, and further Client expressly waives any right to commence any type of legal or administrative action arising from Clientï¿½s failure to timely pay the second and final installment and there will be no refund.
In accordance with paragraph A. Client understands that NCES will analyze/audit the Clientï¿½s credit reports and develop a plan to investigate, validate, and delete, correct or change those negative items which can be deleted, corrected or changed under current federal and state law during the term of this Contract. NCES is committed to taking action by correspondence on at least three (3) cycles (i.e., a ï¿½cycleï¿½ shall consist of three (3) challenges and responses thereto to and from the credit agencies to remove a discrepancy or discrepancies). In the event an Individual Client is not satisfied with NCESï¿½s services after it has completed three (3) cycles, then Client may request in writing that NCES no longer perform any Services on Clientï¿½s behalf and NCES will be entitled to retain $100.00 for all Services rendered to date.
The Client understands and agrees that at least three (3) cycles (i.e., credit agency exchanges of correspondence and the continuing analysis/audit and investigation/dispute with credit agency, all correspondence associated with the credit report audit, investigation, and improvement process, the review for changes with each applicable credit agency, creditor or public record holder, and the continuing planning and creation of documents for the purpose of credit report improvement) is a process that takes time and cannot be stated with any degree of certainty when it will be completed. For this reason, the Client expressly understands and waives any right for any refund of any monies paid in the event the Client elects to cancel this Contract with NCES prior to its completion of three (3) cycles.