TIMOne on One with Timothy Williams, Founder of Second Chance Investments, LLC. Interview by Dylan Williams.

GTM: Where are you from and how long have you been in business?

W: I’m from Brooklyn, New York and I have been in business for two years

GTM: Tell me a little about the basics of credit improvement.

W: The main focus of credit improvement is to eliminate negative accounts on a credit report, and learning how to understand the scoring system along with learning how to build positive credit.


GTM: Would you give us some advice on credit scams and how to protect your credit?

W: Credit scams are mainly found within companies that don’t comply with the credit repair organization act. This is a law that governs credit repair companies and organizations.

GTM: How would you better serve a client compared to other credit repair companies?

W: First off, I’ll be in compliance with the credit repair organization act, I don’t accept full payment upfront, I educate my clients on how to obtain and maintain positive credit. Most companies leave the client to pay collections without informing them that this is documented on their credit reports.


GTM: What is bankruptcy, and is it a solution to bad credit?

W: It varies, it depends on how much debt you’re in and how long the debt has been existing. Personally I’ve helped quite a few people avoid bankruptcy because 9 times out of 10 the people just don’t understand how the credit system works.

GTM: Why does applying for different credit negatively effect your credit score?

W: Every time you pull your credit you lose 5 points. Everytime you open up a new account you lose 10 points. Everytime you dispute something on your credit you lose 20 points. Everytime you make a late payment you lose 20 points, and everytime your account goes to collections you lose 30 points. When you try to pay an old collection you lose 20 points.

GTM: When using your services, how long does it usually take for a person’s credit to increase to perhaps a 500 or a more acceptable score?

W: The average time it takes with about 95% of my clients is 3 to 4 months. For those clients with more activity on their credit, it may require a little more time.


GTM: Where does a person’s credit score have to be in order to be approved for things such as personal loans, a house or a car?

W: Mid 600’s, however we prefer to get the client to the mid 700’s so the will not have any problems. A 740+ will allow a person to be able to walk in a bank for any type of loan with no money down and be approved. On the other hand, most banks and mortgages look for a 640.

GTM: Credit repair companies require their clients to sign a contract. This locks the client into a monthly rate. Do you think this is a good idea for a person with already less than acceptable credit?

W: It’s the law. The companies that don’t have their clients sign a contract and explain thoroughly how long the process can take is breaking the law.


GTM: What is the average debt of your overall clientele?

W: The average is between $2000 to $5000 which is definitely not a reason to file bankruptcy.

GTM: Would you say that $10,000 to $15,000 of debt would be a reason to file bankruptcy?

W: It depends on the person’s income


For more questions you can contact Timothy Williams  at 334-239-9889 or 334-239-7519. You can also visit