TAMPA, Fla.--(BUSINESS WIRE)--When the real estate market started tumbling in 2006, millions of Americans were struck with feelings of dread as their homes lost value or their dreams of ownership evaporated. Herschel Bentley, a 27-year mortgage veteran who segued into real estate investing in the early 2000s, faced his own personal financial crisis but instead of giving into despair, ultimately found a way to help thousands of people as the Founder and Executive Director of the Tampa based company National Credit Federation.
Bentley had numerous lease option properties at the time, but with the mortgage market crumbling — and the days of subprime lending over - he found that all his potential buyers had severe credit issues. When he realized the only way to get those who wanted to buy properties “to the table” was to help them repair their credit, he started doing that on the side. Within a few years, he had a thriving new business.
A nationwide membership based organization, National Credit Federation (commonly called NCF) assists those who are going through a financial difficulty or need a dramatic improvement in their credit score. The company’s “Credit University” helps clients navigate through several credit myths, understand consumer laws that were written to protect them, and help people make informed decisions regarding their credit file — all of which is geared towards improving their credit worthiness.
This is accomplished in part by providing members with access to resources normally unavailable to “non-credit worthy consumers”: financing, banking, credit lines, professional legal assistance, personal financial coaching and personal financial education. The average NCF member increases their credit score 127 points in six months.
Bentley hired staff attorneys to help clients understand a law called the Fair Credit Reporting Act. The law essentially allows a derogatory mark to be put on a person’s credit report for 7-10 years maximum. Yet the reality is that those negative items have to be verified and validated, as well as up to date. If items on the report cannot be, by law they must be removed. 15 employees work at NCF headquarters but there are hundreds of consultants (contract employees) working in the field.
Read more: http://nationalcreditfederation.com/news/herschel-bentley-helps-thousands-rebound-from-credit-storms