Brief overview about collections, and how medical and non-medical collections differ. What impact does a collection have on your credit profile?

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Dave Ramsey teaches a lot of great information. He has helped millions of people get out strangling debt and has done a lot of good! But, is Dave right on everything? There are a few items he and I don't see eye to eye on. Not saying he is wrong (nor would I ever accuse him of being stupid like the does some other people) but just sharing a different perspective to consider on debt, credit and saving for a home.

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Have you ever stopped to think about what you believe to be true about money? Likely not, most have not. So we live into what we think we know, but it is actually keeping us stuck, likely broke, and confused about why we can't make our money work more powerfully for us. Listen in as your credit coach breaks down how to question what you believe about money and how to create a new, positive relationship money.

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Transunion puts out a report each quarter showing stats and trends.... I know... yawn. But it can be very telling to see what kinds of trends are out there with new credit card accounts, balances, and new personal loans.

Friends, it looks a little scary to me. Balances are up almost 15%, new cards are up over 20%, and new personal loans are skyrocketing. We know why- the cost of living is out of control, inflation is for real, incomes are not increasing in sync with what it costs to survive. It's a problem and the data is showing what people are doing. We are relying more and more on debt to help make ends meet. But it's going to cost in the form of interest and fees. Slippery slope.

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How can you win a game that you don't know the rules of? Learn how to play the credit reporting bureau's games by knowing some basics.

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Let's talk about the money beliefs which creates our habits which creates our predicaments! Where we find ourselves with our credit and money situation is often a result of what we believe to be true. But what if, just what if what we believe isn't actually fully true? What if those beliefs were someone else's beliefs and you aren't meant to keep them. Let's talk about it.

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If you have looked into credit repair, you have likely come across (or even worked with) Lexington Law and CreditRepair.com. I believe Lexington Law is the largest credit repair company in the nation.

The Consumer Financial Protection Bureau has a lawsuit against them and some major changes are unfolding (not to mention large sums of money on the table due to false statements made by Lexington to it's clients.

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Have you applied for a loan or a credit card and were declined? Wonder what to do now? What happens with that information? Who knows about this besides you and the creditor? Is it reported someplace that will come back to haunt you?

I remember all of those fears and thoughts when I have been declined before and I know exactly how (crappy) it feels. Listen in to learn what you need to know if you have been declined: some potential reasons why, what to aim for to improve upon your situation, and what to do next. 

Hi friends! It's our anniversary! 3 Years today launched this podcast! And this is the 99th episode- so THANK YOU! for being part of this journey. I hope this information has helped you have a better understanding of credit. Would you please provide a great review if I have helped teach you something new, maybe share what you like (so I do more of it each episode!). Appreciate ya!

Debt management plans and debt settlement companies are two VERY different things. Their business model is different, their impact on your credit is different and most people don't know they are two very different entities. 

Debt management plans are non-profits with certified credit counselors (which require 60 hours of training and passing an intense exam through FINRA and they help negotiate terms to HELP you get your debts paid back by negotiating lower APRs and beneficial terms to make on time and total repayment.

Debt settlement companies are out to make money, serving themselves first, and then, after having your credit destroyed with late payments, your accounts being closed by the creditor, late fees added and possibly new collections or charge-offs now being created, they wait until your creditor and you have been hurt by lack of repayment methods and TRY to negotiate terms to settle for less  than owed. VERY different ways to approaching debt that might be strangling you. Consider a debt management plan over a debt settlement plan. 

I had mentioned credit.org in the episode, and I have NO affiliation with them, they are just one of the bigger good guys there to help if you need help paying off debt and want to consider options.

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In this episode, Credit Kristi interviews Danielle Hill of Upwardli to talk about a solution for immigrants trying to establish a credit profile in the U.S.

She is the co-founder of Upwardli, who's purpose is to help credit invisible people establish a credit to build a profile and history that creates credit-worthiness opportunities for only $6 a month! 

Note: Kristi has not used this product and is not affiliated with Upwardli, but simply providing some information that could be useful to listeners that are looking for a way to build credit that is inexpensive ($6 a month) and not a secured credit card. There are no kickbacks and no affiliations, simply sharing a possible option for those seeking info.

www.upwardli.com

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