CREDIT RESTORATION SERVICE AGREEMENT
This is an Agreement between Quantum Financial Group LLC, (hereinafter also referred to as “COMPANY”, “we”, “us”, “our”), and in which is a credit restoration company specializing in credit report auditing, credit consulting, and dispute resolution / restoration services; AND the Client printed and signed herein (also referred to as “You”, “your”, “his/hers”, “him/her”, “he/she”), an individual who has voluntarily sought out COMPANY and who desires to utilize COMPANY’s services, and who is willing to provide payment to COMPANY, as set forth herein, in exchange for services rendered as outlined in this Agreement. COMPANY will attempt to assist Client with correcting erroneous errors and other questionable or misleading data found in Client’s credit reports by challenging the credit items in which Client has identified as inaccurate, unverifiable, incomplete, obsolete, questionable, and/or misleading. We will NOT attempt to negotiate your debt, consolidate your debt, or collect monies to make payments on your debt. Our services are strictly limited to those outlined in this Agreement.
SECTION 1. COMPANY RESPONSIBILITIES AND ACKNOWLEDGMENTS
- Services: COMPANY is responsible for … (1) requesting (from Client) and reviewing his credit reports and scores, providing a complete audit of Client’s credit reports as well as consulting with Client regarding his individual concerns, needs, and circumstances during Client’s initial enrollment process ONLY; (2) making recommendations on repairing and rebuilding derogatory credit items and how to improve his credit scores; (3) preparing a customized “Plan Of Action (POA)” report based on individual circumstances; (4) drafting/preparing and sending disputes to the three major credit bureaus on Client’s behalf and in Client’s name; (5) contacting original creditor(s) and collection agencies to challenge and/or obtain verification/validation of alleged debt (if necessary); (6) regularly and consistently evaluating and following up on all disputes in which Client receives from the credit bureaus; (7) providing unlimited customer support as needed which consists of, but is not limited to, answering telephone support calls, answering email support tickets, maintaining accurate Client records, updating Client records, sending case update notifications as received, customizing and sending disputes, as well as other administrative tasks such as billing maintenance and collections; (8) electronically copying and filing all documentation necessary for use in challenging Client’s credit reports; (9) taking all preventative measures possible to ensure the safety and security of all sensitive data stored by COMPANY; (10) periodically (every six months) reassessing Client’s case/progress to determine the best next Plan of Action. Each of these said services, whether collectively OR individually, comprise of and define the term “Services Rendered” and thus, CLIENT will be billed as such.
- Acknowledgments: COMPANY acknowledges that it will not make or advise Client to make any statements with respect to Client’s credit worthiness, credit standing, or credit capacity that is false or misleading or that should be known, by the exercise of reasonable care, to be false or misleading to a Credit Reporting Agency or to a person who has extended credit to Client or to whom Client is applying for an extension of credit with and; (2) that COMPANY will not share any of Client’s personal information with anyone except the parties listed in this Agreement of whose signature is provided, unless expressed written permission to do so has been provided by Client.
- Timing: Because COMPANY is acting under Client’s direction, COMPANY cannot accurately predict how long the credit restoration process will take. With any and all legally recognized delays notwithstanding, COMPANY will process its initial assessments and challenges within seven (7) business days of the date of initial enrollment completion, and – on average – is generally able to complete the restoration or improvement process within 6-9 months of its inception. However, the actual amount of time required to complete the process will depend greatly on how prompt the credit reporting agencies and other data furnishers are with responding to disputes, as well as how promptly Client forwards correspondence from the credit reporting agencies, collection agencies, and original creditors to COMPANY as well as the number of items found in the reports and/or in which can be properly and lawfully disputed. Therefore, COMPANY estimates that realistically, it can take as little as ninety (90) days and up to one (1) year or more to complete the restoration process, but Client may cancel this Agreement at any time. Time is of the essence under this Agreement.
- Guarantees: By law, COMPANY cannot guarantee any specific outcome for the use of its services. Because each case has so many factors, making such a guarantee would be improper and misleading. No Credit Services Organization or person can honestly guarantee that they can control what the credit bureaus’, original creditors’, or other data furnishers’ responses to a client’s disputes will be. However, that being said, COMPANY is more likely to assist with removing at least one (1) derogatory, inaccurate item from Client’s credit file. And COMPANY will use its best efforts and resources to improve Client’s credit file in order to receive the best possible outcome and as quickly as possible. If after six (6) months from the date of execution of this Agreement, the use of COMPANY’s services does not result in the removal of ANY inaccurate, unverifiable, misleading, or obsolete information from CLIENT’s credit reports, then COMPANY will provide either 1) a full refund of all monthly service fees or 2) an additional six (6) months of services to CLIENT free of charge but not both.
SECTION 2. CLIENT RESPONSIBILITIES AND ACKNOWLEDGMENTS
(a) CLIENT agrees to execute the Limited Power of Attorney attached hereto, to allow COMPANY and/or its designated staff and/or agent(s) to communicate and negotiate with the credit reporting agencies, creditors, and/or other data furnishers on behalf of Client;
(b) The credit bureaus, creditors, and other furnishers, in which COMPANY will be disputing with, will usually require proof of CLIENT’s identity. Therefore, and for this purpose only, CLIENT agrees to provide COMPANY with proof of his identity, including but not limited to, a legible copy of his valid State Identification Card or Driver’s License, a legible copy of his social security card, and a legible copy of a utility bill in his name (for proof of address), or any acceptable & approved alternative of these requested identity documents, in order that COMPANY may provide this proof to the appropriate parties during the dispute process;
(c) CLIENT agrees to forward all credit reports and any other relevant correspondence received from the credit bureaus, collection agencies, creditors, and/or other data furnishers within five (5) business days of receipt by CLIENT to COMPANY for review and processing and to avoid any costly delays in the restoration process;
(d) CLIENT agrees to immediately notify COMPANY if he does not receive any such correspondences within forty-five (45) days of sending such dispute challenges;
(e) The credit reports will be some of the most important correspondences received from the credit bureaus. Subsequent to COMPANY’s dispute challenges, the bureaus SHOULD respond with new credit reports within about 45 days. These reports will be sent to Client’s mailing address and should list which items were challenged as well as the results of the disputed items submitted on his behalf. Therefore CLIENT will be the first to see any deletions or improvements to his reports (with the exception of Equifax, in some cases) after COMPANY’s challenges. That being said, CLIENT agrees to review any and all new and old derogatory credit information in the reports, as received from the credit bureaus, and to immediately notify COMPANY, within no more than five (5) business days of receipt, of any new or old items he identifies as inaccurate, misleading, or unverifiable. Client also understands that we recommend monitoring his/her credit online so that if he/she does not receive any updated credit reports via postal mail, then he/she can update his/her credit report online and in this instance, agrees to send us an updated credit report at least once every 30-45 days;
(f) CLIENT agrees to communicate with the credit bureaus and other agencies/creditors through COMPANY’s correspondences ONLY, and to allow COMPANY to perform any and all necessary disputes, as outlined in this Agreement, in order to maintain a consistent message. CLIENT understands that while COMPANY cannot stop him/her from contacting these agencies/creditors him/herself, doing so may cause his/her account to be terminated immediately;
(g) CLIENT also agrees to pay his monthly service fee on time, exactly as described and outlined in this Agreement, each subsequent month for services rendered to CLIENT’s account (see SECTION 1.1 for the definition of “services” rendered) the previous month;
(h) Furthermore, CLIENT agrees that he WILL NOT apply for any type of credit (i.e., credit cards, home financing, automobile financing, personal loans, etc.) at any time during the credit restoration and improvement process unless specifically directed to do so by COMPANY.
(i) And finally, CLIENT agrees to serve as a reference for COMPANY to other potential clients upon the completion of services outlined in this Agreement, and only within respect to reasonable limitations of Client’s privacy and rights.
(a) CLIENT acknowledges that he intentionally and voluntarily sought out COMPANY, which is headquartered in the State of Texas, to perform the credit services identified and outlined here in this Agreement; CLIENT further acknowledges that he will be subject and bound to the CROA laws and statutes of the state in which COMPANY is headquartered;
(b) CLIENT acknowledges that he is of legal age, at least 18 years old, and is fully competent of making responsible decisions that may affect his current and/or future credit and financial status;
(c) CLIENT acknowledges that he has received, read, and understood a copy of the … (1) ‘Consumer Credit File Rights’; (2) ‘Notice of Cancellation Form’; (3) ‘Limited Power of Attorney’ and; (4) ‘Payment Authorization’;
(d) CLIENT acknowledges that COMPANY has informed him that he may not make any statements, nor will COMPANY make any statements which are untrue or misleading with respect to CLIENT’s credit worthiness, credit standing, or credit capacity to any entity, including the credit reporting agencies, or any person;
(e) CLIENT hereby testifies that all information provided to COMPANY shall be truthful, and CLIENT hereby agrees to indemnify and hold harmless, COMPANY, from any and all liability whatsoever that may arise based on the false, misleading, or inaccurate information provided by CLIENT to COMPANY;
(f) CLIENT acknowledges that he fully understands his commitment to COMPANY and its service program;
(g) CLIENT acknowledges that he also fully understands both the time and financial cost(s) involved in the services he will receive;
(h) CLIENT acknowledges that any missed payments during the credit restoration and improvement process is grounds for automatic termination of this Agreement, at the sole discretion of COMPANY, and in this instance COMPANY will be released from any further obligations outlined in this Agreement and CLIENT will not receive any refunds that may have otherwise, been available;
(i) CLIENT hereby give permission to COMPANY to obtain credit reports on his behalf to begin and/or to maintain the credit restoration and improvement process and if requested, CLIENT will do his best to assist in obtaining such reports;
(j) CLIENT waives his rights to privacy of the information provided by the credit bureaus, creditors, and other furnishers of such relevant information, and empowers COMPANY to correspond directly with these agencies and/or their agent(s) or any sub-agencies operating in smaller rural areas, in CLIENT’s name in order to obtain the credit file information and make disputes therein;
(k) CLIENT understands that COMPANY will perform a complete credit report review and audit and provide CLIENT with a consultation regarding COMPANY’s findings, at which point CLIENT’s account will then be charged as “services rendered” for enrollment only;
(l) CLIENT understands that any and all results obtained by COMPANY in its effort to restore and improve the credit report of CLIENT, shall be contingent upon a number of factors, including but not limited to, (1) the alleged balance in which creditors claim CLIENT owes and; (2) the credit bureaus’, creditors’, or other data furnishers’ willingness to respond in a timely manner and/or ability to verify and/or validate information provided during the restoration and improvement process. Each credit reporting agency has 30-45 days to investigate;
(m) CLIENT acknowledges that COMPANY will not be collecting any monies from him, to pay out to any agencies or persons, for any outstanding debts;
(n) CLIENT acknowledges that there is no set duration for this Service Agreement. COMPANY will keep disputing until there is nothing left to dispute; thus, this Agreement will not expire automatically but CLIENT may cancel at any time;
(o) CLIENT further acknowledges that the credit restoration and improvement process WILL automatically stop if he ceases to provide, within a reasonable time frame, any correspondences (including updated credit reports) from the credit bureaus, creditors, and other furnishers to COMPANY, and/or if he fails to pay for services rendered on time each month, at which point COMPANY will have no further obligations under this Agreement and COMPANY may or may not, at its leisure, provide notice of such termination. No monthly service fees will be refunded.
SECTION 3. PAYMENTS & BILLING
- Chosen Service Plan, Enrollment Funds Due, and Monthly Service Fee:
Quantum Financial Group LLC only charges for services previously rendered. Therefore, CLIENT promises to pay Quantum Financial Group LLC for the service(s) rendered as defined in Section 1.1 of this Agreement; and for the amount of the service selected on CLIENT’s enrollment application; and also in accordance with the terms of Section 3 of this Agreement. By default, and unless otherwise noted, Quantum Financial Group LLC automatically drafts payments on an automated recurring basis each month for the monthly service fee, where applicable, in accordance with CLIENT’s Acceptance of Service acknowledgement. Therefore, and unless otherwise noted, by signing this Agreement, CLIENT authorizes COMPANY to automatically draft payment for services rendered. CLIENT further agrees to maintain current, valid payment information on record with Quantum Financial Group LLC at all times and to update his payment information as changes occur or is otherwise necessary.
- Payment Due Dates:
Enrollment fees are due immediately upon completion of CLIENT’s initial enrollment consultation call. CLIENT’s account will also be charged a service fee each month, subsequent to (the month following) services rendered, and on the specific day chosen by CLIENT at the time of enrollment (either the 1st or the 15th of the month, unless otherwise approved). Unless prior payment arrangements have been made, all service fees are due and automatically drafted as scheduled on CLIENT’s selected due date. Payment arrangements must be made by 3PM (PST) at least two business (2) days before CLIENT’s due date. Accounts are automatically SUSPENDED for declined transactions, at which point COMPANY will have no further obligations to CLIENT under this Agreement. All outstanding service fees MUST be made no later than five (5) calendar days after scheduled due date before CLIENT is subject to a $30 late fee. All late fees, and/or other related fees are due immediately upon assessment.
If, after six (6) months of service, COMPANY fails to help CLIENT remove/correct ANY inaccurate, unverifiable, misleading, or obsolete data from CLIENT’s credit file, then CLIENT may request a full refund of all monthly service fees paid, granted such results are in no way due to the non-cooperation or breach of contract on CLIENT’s behalf which may have either delayed or completely crippled CLIENT’s progress; AND also granted that it has been proven that such results are, either in whole or in part, due to the negligence of Quantum Financial Group LLC. CLIENT must complete a full six (6) months of service in order to qualify for this service guarantee refund and must also allow a minimum of two (2) weeks for COMPANY to complete a thorough investigation into CLIENT’s claim. CLIENT is also entitled to a full month’s credit of his monthly service fee in the event COMPANY fails to perform ANY of said services as outlined under Section 1.1 of this Agreement. If CLIENT has not yet paid his service fee for that month, he will receive a credit to his account for the monthly service fee. If he has already paid his monthly service fee, he will receive a credit to his account on the following monthly invoice. However, COMPANY will not provide refunds of any service fees charged to CLIENT’s account subsequent to services being rendered.
- CLIENT agrees that if there is a billing discrepancy, CLIENT will contact Quantum Financial Group LLC to resolve any issue and that CLIENT will not contact his credit card company or bank to dispute the charge(s) without first notifying and contacting Quantum Financial Group LLC and attempting to resolve the issue with COMPANY.
- All fees earned prior to completion, cancellation, or termination of this Agreement will be billed and payable to Quantum Financial Group LLC in accordance with the terms in this Agreement. All payments are due on CLIENT’s selected due date. If payment is not received, and payment arrangements have not been made, by 3PM (CST) within five (5) calendar days after payment is due, then a $30.00 late fee will automatically be applied to CLIENT’s account. If still not received within one (1) week after that, CLIENT’s account will be CANCELLED. If this payment, in addition to any applicable late fees, still haven’t been received within one (1) month after that, CLIENT’s account will be permanently TERMINATED and sold to a third party collection agency. Furthermore, if CLIENT’s account is terminated, then CLIENT grants COMPANY the right to retract any disputes submitted on CLIENT’s behalf so that any improvements made to CLIENT’s credit reports may be reversed.
- If any form of payment that CLIENT supplies is non-collectible for any reason whatsoever, Quantum Financial Group LLC reserves the right to assess CLIENT with an additional $35.00 dishonored payment fee
SECTION 4. MISCELLANEOUS
COMPANY has the right to change the terms and conditions of this Agreement, including and without limitation, its prices and fees, at any time and from time to time, with proper notice. Prior notice shall be deemed to have been mailed and received by CLIENT through postal mail or electronic submission, whichever format the Agreement was originally delivered to and accepted by CLIENT. In the event of such a change, CLIENT may cancel this Agreement for that reason, or for any reason whatsoever, within three (3) days of this notice without penalty or further obligation.
Pronouns, Singulars and Plurals: All pronouns, singulars, plurals and any variations thereof shall be deemed to refer to the masculine, feminine, neuter, singular or plural as the identity of the person and/or persons executing this Agreement.
Agreement Cancellation: You may cancel this contract without penalty or obligation at any time before midnight of the third (3rd) business day after the date your Enrollment Fee has been received.
Client Obligations & Agreement.
- Client will return, along with his completed and signed “Entire” agreement, a legible copy of his driver’s license, social security card, and a recent Utility bill showing the correct mailing address (phone bill, gas bill, electric bill, etc.).
- Client agrees to assist COMPANY in obtaining initial and/or subsequent credit reports, with scores, from all three credit bureaus (Equifax aka CSC, Experian and Trans Union) upon request.
- Client agrees to maintain on time monthly payments of their current credit obligations (i.e. – car loan, utility bills, mortgage payments, credit cards, etc.). Failure to maintain those payments will result in severe damage to the progress and improvements made by “Quantum Financial Group LLC” and will forfeit any guarantees under this Service Agreement. The addition of any new derogatory items to the credit file will also result in serious damage to our progress and in such instances, shall void any and all guarantees under this Service Agreement as well.
- Client agrees to contact our support department with any questions regarding their credit INCLUDING inquiries with regards to applying for new consumer credit.
- Client agrees to the payment terms and conditions as incorporated into this agreement.
- Client also agrees to forward all correspondences received regarding their credit file, including an updated credit report, to “Quantum Financial Group LLC” as soon as they receive items from any of the three credit bureaus, Equifax (CSC Credit services for TX residents), Experian, and Trans Union and/or at least every 30-45 days.
- Client agrees that if the he fails to complete the payment schedule, any and all guarantees will be forfeited.
- This Agreement term is month to month from the date of execution below. Either party may cancel at any time given written notice. However, CLIENT understands that since he is billed subsequent to services being rendered, then he may still have an outstanding balance after cancellation in which he agrees to pay right away.
- CLIENT hereby acknowledges his right to cancel this Agreement without penalty or obligation at any time before midnight of the 3rd business day after the date his Enrollment Fee has been received.
LIMITED POWER OF ATTORNEY
I hereby engage the services of Quantum Financial Group LLC and hereby give Power of Attorney to Quantum Financial Group LLC, its employees and agents or third party affiliate companies (hereinafter referred to as “COMPANY”), to perform or engage in an act on behalf of me for the purposes of requesting and investigating inaccurate, unverifiable, misleading, or outdated information in my personal credit file(s), including and without limitation, the right to obtain my credit reports and profiles from credit reporting agencies and credit bureaus. The specific acts necessary to accomplish the purpose of this Agreement shall be at the sole discretion of COMPANY’s professional judgment. The specific acts shall require periodic ordering of my consumer credit reports by COMPANY. The specific acts may include written and oral communication in my name regarding disputes and are not limited to, credit reporting agencies, credit bureaus, creditors, or collection agencies. I authorize COMPANY to order my consumer credit reports from time to time or as needed. I hereby direct and authorize COMPANY to verify, validate, and dispute all inaccurate and questionable negative credit items and those items determined by COMPANY to potentially have a negative impact on my credit. I specifically waive my right to privacy regarding those communications between COMPANY and the various agencies and entities disseminating credit data about me. I further give and grant COMPANY full power and authority to do and perform every act necessary and proper in the exercise of any of the powers granted hereunder as fully as I might or would do if personally present, including but not limited to, signing my name on written and other documentation/correspondences. With full power of substitution and revocation, I hereby ratify and confirm all that said attorney in fact, shall lawfully do or cause to be done by virtue hereof.
I certify that any third party who receives a copy of this document may act under it. Revocation of the power of attorney is not effective as to a third party until the third party has actual knowledge of the revocation. I agree to indemnify said third party for any claims that may arise against said third party as a result of relying on this Power of Attorney.
I understand that I may revoke this Power of Attorney at any time by sending written notice to: Quantum Financial Group LLC, 1830 Springs Rd # 274 Vallejo CA, 94591 or firstname.lastname@example.org
I have hereby executed this Power of Attorney on the day and year as listed on my Enrollment application.