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George Cole – National Credit Educational Services
His innovation for Credit Rehabilitation can Reverse Generations of Economic Disadvantage

George Cole
George Cole

“Unless you are extremely wealthy, our nation's credit system will be a major factor in your life. The knowledge of how to manage it is so important that it will determine whether we and our children live the American Dream, or whether we become second class citizens in our own country.â€

Sometimes individuals can be in a painful situation for so long that they come to believe that it is normal.

When they are compelled to receive medical treatment for an illness they are surprised how it good it feels again to be without pain. That is the same scenario many people are dealing with in their personal finances.

Many people have never known true financial wellness throughout their entire lives; to the point that this condition has been in their family for generations. And since the Economic Recession in 2007, there are people who are experiencing financial disadvantage for the first time in their family's history.

We, the developers of this website, have launched an initiative called Financial Literacy and Wellness to find and promote SOLUTIONS that helps people eliminate this problem. Our mandate is to find and promote innovation that will economically impact the middle-class, the poor, the elderly, veterans and municipalities. One of the most compelling and immediate examples of a SOLUTION that we could find that will help all of these groups has been started by Mr. George Cole, CEO and Founder of National Credit Educational Services. NCES is a 501c3 nonprofit credit repair, education and counseling company. For close to 20 years, Mr. Cole has been involved in this industry at major levels. In 1997 he started as a representative for ICR Services, Inc., a national credit repair company out of Lavonia, Michigan. He became their most successful rep in the nation because he is an articulate speaker, to the point of eloquence; and most importantly, he immersed himself into the study of the credit industry and the laws that deal with it, so he could advise his clients how to use credit to their advantage. He is now considered an authority on credit and credit counseling.

This did not happen immediately. Mr. Cole is blessed with a continuously probing and analytical mind and that led to a major change in how viewed the credit repair industry. He said, “It was like the Lord was speaking to me one day and in my mind he asked, 'If you completely eliminate most of the information from a person's credit report, are you really helping them?'. And I saw that the answer was No. Having almost no information on your credit report can be about as bad as having negative information, and that is what credit repair companies are doing by focusing on only removing the negative. As I was thinking how can this problem be solved I heard that same voice speak in my mind; 'Reverse the negative to positive, and it is your task to discover how to do it.' My focus changed on how to find that SOLUTION, and I did in only 2 days. I discovered an exclusive, proprietary method for LEGALLY changing negative data to positive on a credit report and it can be done swiftly in a matter of weeks, where the old methods of only negative removal can take months. This method can rehabilitate and accelerate a credit profile that can become life changing for its owner, and it does not matter what their age is or their station in life.â€

Mr. Cole determined that the best way to use this knowledge without interference was to start his own company. In 2009 he started National Credit Educational Services in Marietta, GA. He says that there is a distinct difference between Credit Literacy and Financial Literacy, and that the public needs to understand the process of credit and how that information is collected and reported about them. He says, “Credit reporting agencies are not our friends. They gave corporations the idea that using their services will help them to better determine a person's credit worthiness and character; but now it covers more than just applying for credit. There was a time that applying for a job meant giving references from people and former employers, but in 1994 that changed. Now your credit score determines if you are a fit candidate for a job; if you are late with bill payments that can be judged as “you will be late for work; if you have credit charge offs – where the company writes off the debt as noncollectable – you are judged as “not trustworthy, might stealâ€; if you filed for bankruptcy you can be judged as “not responsibleâ€.

The problem is that many times people have inaccurate information on their credit reports. The three credit reporting agencies Equifax, TransUnion, and Experian can each have entirely different information about the same bill that is reported on for a consumer. One error can cause a 50 to 80 point drop in your credit score. FICO creates your credit score from information collected by the reporting agencies; if their information is in error then your score, because of them, can be an unfair representation of you.

Credit is the life's blood of our economy and our system of commerce makes money on bad credit. Mr. Cole noted, “Your credit score now determines if you will receive insurance, auto loans, mortgage loans, bank accounts and utilities; and how much it will cost you to pay for them. The lower your credit score the more you will pay and that extra represents a substantial increase in revenue to corporations, without them having to do anything extra. A late payment of $1.00 can drop your score by 80 points and can mean the difference between paying 2.9% for an auto loan or 18%. A bad score can mean paying as much as three times more for insurance and utilities, and it can be the equivalent of cutting your paycheck in half. †Mr. Cole estimates that if the majority of the country had good credit the reporting agencies could lose as much as 75% to 80% of their revenue. This raises the question of how much incentive is there to really help people at the corporate level?

He also views his work in educating the public on credit and finance to be as important as repairing their profiles. His FREE workshops deal with how to accelerate paying off auto loans and how to pay off mortgages in 11 years. But he is examining a major undertaking in developing a curriculum for teaching elementary through high school students, how to understand and use our credit system because he feels it's just as important for them as learning their times tables and verb conjugation. He states, “Every graduating high school student should receive a diploma and have a 720 credit score, and the knowledge of how to maintain and improve it. This will give them the foundation they need build their educational and financial future.†He says that parents should know how to establish credit for children to make them financially sound while they are young, so even if they had limited education and average jobs; they will know how to use credit as an asset that creates their wealth, instead of it being a liability that financially cripples them. He believes that if we do not include this process in the pursuit of adequately educating them, we are fooling ourselves.

Mr. Cole has major other objectives lined up for this year. He is investigating the process of COLLABORATING with municipalities to use his services to help them in Economic Development. A local business owner and a small business and community advocate, was appointed to the head the Committee for Economic Development for a Metro Atlanta county. They stated, “I was talking about the fact that in order for us to be successful, we must find a way to help the county's business owners and residents deal with the issue of credit; because that is the major obstacle to them obtaining funding for businesses and homes.†So it is timely that Mr. Cole said, “My credit repair system can elevate the credit scores of business owners and residents; which then makes them able to generate an economic domino effect in the county that increases business activity, jobs, housing sales, and more property taxes being paid because homes that were empty now have people who can qualify to buy them. I also estimate that households could save an average of $750 to $1200 per month on their bills and expenses because their improved credit scores will enable them to pay lower interest rates and fees on homes, cars, goods and services. This can improve their quality of life and collectively enable more disposable income to circulate into the economy, making it stronger. A community whose residents have good credit can be a force for economic development by themselves.â€

He traveled to Washington, D.C. in mid-March to participate in the “DC Fly Inâ€, an event sponsored by The Atlanta Business League where Georgia business owners were part of a three day trip to the nation's capital, to meet Georgia's congressional delegation and department heads of various agencies. This year they presented SOLUTIONS for Business and Economic Development to the delegation; Mr. Cole spoke about his program for credit rehabilitation being used as a public policy tool for municipalities. He is also presented a proposal for a new law that stops creditors and collection agencies from placing accounts that have been settled as “Paidâ€, back onto a credit report as “Disputedâ€. Mr. Cole stated, “This is harassment by creditors and collection agencies of consumers, because when their report is cleaned, a “Disputed†label on it can hurt their credit. They will not be able to buy a house with a “Disputed†classification, and it is deliberately untrue; because an account that is settled as “Paid†cannot be under Dispute. There are laws that make it illegal for a collection agency to put a debt back on your credit report if it has passed the statue of limitations. But they don't go far enough. This practice needs to be stopped.â€

According to Mr. Cole, the reason this practice continues is because the Credit Reporting Agencies allows collection agencies to post inaccurate information on a consumer’s credit report. They pay a price for it and especially minority consumers, because this information appears more often on their reports and remains there longer, perpetuating disparities in wealth for them. People are damaged financially because this adds excessive interest and fees to unfairly inflate debt, which makes old ones look new again and unaffordable to pay off. This results in unjust legal judgments and wage garnishments which increases unemployment and bankruptcies; this adds more years of damage ones credit. Unscrupulous companies and individuals are even placing fictitious garnishments on people’s paychecks, by just buying a municipal stamp from office supply stores. Qualified credit rehabilitation and monitoring can help bring relief from these unfair practices.

For those who may be skeptical, NCES has a track record for doing what Mr. Cole says it can do. They have provided their services to help people from every walk of life, including celebrities that would sound like a Who's Who in the entertainment, media, and professional sports arenas. One in particular is Mr. Frank Ski, a restaurateur and former co-host of the Frank and Wanda Morning Show on V-103 radio. He is in the attached video that tells his testimony of discovering that his credit was damaged without his knowledge, when he attempted to lease a new car. He said, “The general manager of the car dealership said, 'Frank you don't qualify.' I said what do you mean I'm getting half of the car I got the first time. They said, 'You don't qualify for anything.' I discovered that there were things on my credit report that shouldn't have been there, I didn't even know what they were, and things that should have never been reported in the first place. George fixed it. This process could have taken months, he fixed it in two weeks and I got my car.â€

Mr. Cole is quick to state that he does not use the practices of other businesses who call themselves credit repairers. He does not use trade lines, which is using someone else's credit for a particular purchase, in place of his client's. He does not have his clients get another Social Security number and he sees to it that whatever comes off a report, stays off. Items returning to a client's report happens regularly with credit repair operations. He states, “The Internal Revenue Service has examined me thoroughly and declared that my operation is legal and legitimate. I am doing something that no one else in this industry is doing, by reversing negative data to positive.†He states, “It's not enough that we clean up their credit, the people must PARTICIPATE AND LEARN how to keep themselves clean, and not get back in financial trouble again.†The logic is the same as one who gets their teeth cleaned at the dentist and then decides to stop brushing them – continuous maintenance is a necessity for virtually everything.

Mr. Cole describes what he does as a ministry. He says that not everyone is irresponsible that has bad credit. He talks in human terms of individuals being hit by unforeseen circumstances beyond their control, and now it affects their credit profiles; much like millions of Americans now after the Economic Recession. He says everyone deserves a second chance to rise again from their financial ashes and that is what drives him. This state of mind was developed in him by his Mother, the late Mrs. Mahulda A.Cole. He says she provided the example for serving that he saw growing up, where she would go out of her way to help people in their neighborhood, and her example is what fostered his capacity for empathy. In his adulthood he saw the same mind set of his Mother manifested in a close friend, the late Phil Oliver. He also had a concern and caring for people that compelled him to help others.

It is poetic justice that this knowledge base goes to someone like George Cole who will use it to help people. He urges college students to not “throw away your education by becoming a financial slave facing poverty, because of bad credit in college.†He tells them it is like they are giving back their degree after all the work it took for them to get it. He sees the well-being of the country as being tied to everyone of her citizens. He uses this expression, “If repairing your credit helps to put you back in the game, then that helps America to get back in the game. Unless you are extremely wealthy, our nation's credit system will be a major factor in your life. The knowledge of how to manage it is so important that it will determine whether we and our children live the American Dream, or whether we become second class citizens in our own country.â€

We the developers of this website have known about George Cole and his expertise in credit restoration and counseling for a number of years; but we did not know that he has elevated the process for it to the level that he has until recently. Business and Finance can be about as cold-blooded and cold-hearted as people can get. So it is refreshing to see George Cole with his level of expertise, determined to use it to help all people who desperately need SOLUTIONS with their personal finances.

We are going to support this process aggressively because America needed it before the 2007 Recession, and it is even more crucial that we have it now. We cannot allow a program that can help people, to be hindered by self-serving critics who have no SOLUTIONS to put on the table, and who could possibly be driven by concern for preservation of business models and profits. People are getting tired of this scenario on multiple levels. George Cole has got something here; and we urge those that are in the political, business, and media universe to examine it for themselves, and if they use the same criteria that we use to confirm innovation; that it works, it's safe, and it's affordable, then help us put his SOLUTION to work so as many of the American people as possible can finally experience the blessings of living in America with good credit.
For more information about credit repair/educational process click here.
To see the testimonial video of V-103 radio personality Frank Ski click here.
To see more videos of George Cole discussing solutions for credit repair and rehabilitation click any of the links below.
Rashan Ali and George on Channel 11
Christine Pallara and George on Atlanta and Co. Channel 11
Fox TV in Memphis
Fox TV in Memphis