Perkins Financial Consultant Credit Repair Facts & Tips

When it comes to managing your credit, here are some helpful tips to keep in mind:

1. Pay your bills on time: Timely payments are crucial for maintaining a good credit score.

2. Keep your credit utilization low: Try to use only a small portion of your available credit to help maintain a healthy credit score.

3. Monitor your credit report: Check your credit report regularly to ensure all information is accurate and to spot any potential issues early.

4. Limit new credit applications: Applying for multiple new lines of credit in a short period can lower your credit score.

5. Build a positive credit history: Make sure to establish a track record of responsible credit use over time.

6. Use credit wisely: Be mindful of the amount you borrow and your ability to repay it.

7. Be cautious of closing accounts: Closing accounts can affect your credit utilization ratio and average account age.

Remember, good credit management can have a positive impact on your financial well-being.

🗣️Credit Tips Of The Day🗣️

Here are some credit tips to help improve your credit score:

1. Pay Your Bills on Time: Timely payment of bills is crucial for maintaining a good credit score. Set up reminders or automatic payments to ensure you never miss a due date.

2. Keep Credit Card Balances Low: Aim to keep your credit card balances well below the maximum credit limit. This can positively impact your credit utilization ratio and help raise your credit score.

3. Monitor Your Credit Report: Regularly review your credit report for any errors or discrepancies that could be negatively impacting your score. Dispute any inaccuracies to ensure your credit report reflects correct information.

4. Limit New Credit Applications: Avoid applying for multiple new credit accounts within a short timeframe, as this can temporarily lower your credit score.

5. Build a Positive Payment History: Consistently making on-time payments over a period of time can help build a positive credit history and improve your credit score.

6. Use Different Types of Credit: Having a healthy mix of credit accounts, such as credit cards and installment loans, can contribute positively to your credit score.

Implementing these credit tips, along with seeking professional credit repair assistance if needed, can lead to significant improvements in your credit score over time.

Credit Tip: Don't Use Cards 💳 to live Beyond your means...🙅🏾

🚨Credit Tip🚨

Why do you need credit you ask…..here’s why!!! 👇🏾👇🏾👇🏾

Morning Credit Gem 💫👇🏽

Don’t Close Unused Credit Card Accounts. It will drop your credit Scores.
The age of your credit history matters and a longer history is better.

Did you know? 🤔

Millions of Americans have fair, poor, or very poor credit scores of less than a 580‼️ 😫

People with poor credit:

👉🏽Pay high deposits ✅
👉🏽Pay high interest ✅
👉🏽Pay high down payments ✅
👉🏽Pay high insurance ✅
👉🏽They pay off collections worth thousands of dollars that remain on their credit report ✅
👉🏽They get denied ✅

These same people will pay for anything but they won’t pay for credit repair with expert ❌🤦🏽‍♀️

Excited for everyone who has gotten started so far this month!! 👏🏽👏🏽👏🏽

After credit is improved:

👉🏽Pay low or No deposits ✅
👉🏽Pay low interest ✅
👉🏽No down payments ✅
👉🏽Pay very low insurance costs ✅
👉🏽Collections removed & money saved ✅
👉🏽They get approvals left & right ✅
👉🏽Learned Credit & Financial Literacy for life ✅
👉🏽Excellent Credit = Buying power ✅
💃🏾💃🏾💃🏾💃🏾

You ready??

🚨CREDIT TIP🚨

A collection company cannot put a lien on your home or garnish your wages just because they purchased your collections account.

How Often Do Debt Collectors Take You to Court?

According to an article done by a NY debt attorney in 2021:

“Roughly 15% of Americans who have been contacted by a debt collector about a debt have been sued, according to a 2017 report by the Consumer Financial Protection Bureau.

The circumstances surrounding the decision to file a lawsuit can vary from situation to situation. But in general, lawsuits can be expensive, so collection agencies typically won’t sue... Instead, they’ll try other tactics…[ONLY 15% of the time] they attempt to sue once they’ve exhausted their alternatives.”

🛑 STOP LETTING THEM THREATEN YOU!! 🛑

BIG “IF” you are one of the 15% they decide to pursue, they have to file a judgement against you, you will be served papers, you have a right to be heard in the court of law, and they have to prove the debt is 100% yours and that it’s 100% accurate. ***If you’re in the 15% we have attorneys onboard that can help you resolve your account(s)

Reminder:
80% of credit files have ERRORS!! The collection agencies are NOT government entities, they are privately owned companies that make billions upon billions of dollars off our financial information. Know your rights as a consumer and don’t let them intimidate you!!

If you are in a situation where you have debt collectors threatening you let’s connect so we can help you resolve these matters!!

https://trib.al/5zoNnIp?fbclid=IwAR2u3wENbWqekAFG99oXbuz3VI28P-iTJZeDduDS4FNaVdpZ1OoclE_662c

Florida to require high school financial literacy class to graduate It will soon be reading, writing, and return on investments for Sunshine State students. A bill signed by Gov. Ron DeSantis on Tuesday requires all Florida kids to take and pass a basic financial l…

💡Credit Tip💡

Seven Credit Tips Prior To Purchasing A Home

1. START NOW
Credit issues can take over 6 months to reconcile.
2. Monitor Your Credit
Stay on top of your credit by visiting annual credit report.com for your free annual credit report.
3. Cut Back On Expenses
Evaluate your finances closely. Cutting back on your monthly or daily expenses can help you pay back your debts.
4. Decrease Your Debts
Mortgage lenders will review your debt to income ratio when evaluating your ability to repay your loan.
5. Stay On Top Of Bills
Late bill payments will negatively impact your creditworthiness and wil also cause you to get hit with late fees.
6. Avoid Hard Inquiries
A hard inquiry(hard pull) indicates you are actively trying to get credit. Examples are applying for a credit card, personal, or business loan or auto loan. Hard inquiries can lower your credit score.
7. Avoid Any Big Purchases
Limit your expenses once you have lowered your debts and avoid any large purchases on your credit card prior to applying for a home mortgage loan.

Report.com

💡Credit Tip💡

1. Pay Credit Card Balances Strategically
2. Ask For Higher Credit Limits
3. Become an authorized user
4. Pay Bills On Time
5. Dispute Credit Report Errors(Not Online)
6. Deal With Collections Accounts
7. Use A Secured Credit Card
8. Get Credit For Rent And Utility
Payments
9. Add To Your Credit Mix

The biggest credit-reporting firms (Experian, Equifax, and TransUnion) will strip tens of billions of dollars in medical debt from consumers’ credit reports, erasing a black mark that makes it harder for millions of Americans to borrow.

💎 You want to establish a healthy mix of both revolving and installment lines of credit .

🔑 Installment any item your paying on for a certain duration of time . (Example car loan , Morgage , personal loan )

🔑 Revolving is any item that the balances go up and down for insisted ( credit cards , store cards )

⭐️ KEEP accounts open as long as possible remember payment history accounts for 35% of your score. Length of credit history is 15% of your score.

Let’s be great 👍🏾

💡Credit Tip💡

I get told so many times I disputed my collections online but it didn't work 🤔

Credit Tip💡:Never dispute things on your credit online🙅🏽‍♀️This system was created by the bureaus for their benefit only, NOT YOURS! You have certain rights under the FCRA but when you dispute online you are agreeing to certain arbitration clauses where you basically give up the right to ever enforce those rights😧🤷🏽‍♀️😩 You will never be able to sue for noncompliance & you'll also prevent the creation of a paper trail which is also very important when repairing your credit. I can't stress the importance of this enough! Beware, Beware, BEWARE!
Contact me! Or Text- CREDIT to (516)560-0863

💎 You want to establish a healthy mix of both revolving and installment lines of credit .

🔑 Installment any item your paying on for a certain duration of time . (Example car loan , Morgage , personal loan )

🔑 Revolving is any item that the balances go up and down for insisted ( credit cards , store cards )

⭐️ KEEP accounts open as long as possible remember payment history accounts for 35% of your score .

Let’s be great 👍🏾

🔥🔥DID YOU KNOW 🔥🔥

You can Start setting your kids up with prefect credit before they hit 18 years ‼️

Just a few rules during the dispute process

1. Never dispute inquiries tied to an open account you have.

2. Never dispute online/over phone as it pertains to accounts (disputing personal information/inquiries over the phone is fine). This waives some of your rights in regards to the Fair Credit Reporting Act.

3. Never think the bureaus sending you a verified/Updated letter means they actually did the proper research.

4. If it doesn’t bare your signature, keep fighting the verification.

5. Never ever skip a court date if you’re summoned to court, EVER!

💡CREDIT TIP💡

TWO credit cards you should STAY AWAY FROM:

1. CREDIT ONE 🥵
2. First Premier 👎🏽

What’s wrong with:

1) Credit One?
👉🏽 No Grace Period on Interest (interest charged almost IMMEDIATELY)
👉🏽 Annual Fee of $99 ($75 for year 1)
👉🏽 Costs for having an Authorized User
👉🏽 Average issuing credit limit of $300

🤢

What’s wrong with:

2) First Premier?
I call this one the “Fee-Filled Baby”
👉🏽 $95 Application Processing Fee that counts against initial limit
👉🏽 Annual Fee of $75-$125
👉🏽 36% average interest rate
👉🏽 Monthly services fees
👉🏽 FEE for limit increase

Credit Tip:

Please DON’T get sucked up into purchasing tradelines if you are in collections. Your score will NOT increase and if it does it will be a few points. Please keep in mind when you are paying to be added to peoples credit cards as an authorized user it’s TEMPORARY and it really doesn’t hold any weight. Instead of wasting your money get your credit repaired first then add the Tradeline’s?

Lenders just don’t look at a 700 credit score and say hey you are approved!! They do a full detailed analysis and if you are in collections they could still deny with a 700 score. Today I will be doing FREE consultations! If you are interested call / text me 516-560-0863

Credit Facts!!!!