The Credit Woman, LLC

Did you know these three things regarding medical debt?
(Changes occurred July 2022.)

*All paid medical debt will be erased from credit reports.
*New medical debt won't be included in credit reports until one year after the debt is given over to a collection agency.
*Beginning in 2023, credit reports will not include medical debt of less than $500.

Budgeting is so important to effective credit counseling.

Do it yourself. (see below)

But if that doesn't work, contact me. 😊

Text 215-350-2483

https://www.nerdwallet.com/article/finance/how-to-budget

Good morning!

I am about to write a 609 letter per a client's request. I don't normally do them and below is the reason why.

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A letter sent to the bureaus requesting this information is actually not a dispute, but is simply a way of requesting that the credit bureaus provide you with certain documentation that substantiates the authenticity of the bureaus’ reporting. If the credit bureaus are unable to provide the requested documentation, it could indicate that the item may be inaccurate.

Section 609 of the Fair Credit Reporting Act (FCRA) outlines a consumer’s right to order copies of their credit report and the information that appears on it. Section 609 doesn’t explicitly discuss your right to dispute inaccurate information, but it does assert your right to a copy of all the information in your credit file.

Contrary to what some might think, section 609 DOES NOT
require credit bureaus to provide proof of your accounts.

The FCRA gives you the right to dispute information you believe to be incorrect or unverifiable. Credit reporting agencies are responsible for removing any disputed information that can’t be verified or confirmed.
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However, in this time of digital documentation they usually can. I focus on what you need to do to improve your credit.

Now...off to write the 609 letter. Just because my client asked.

4 Big Changes to Credit Reports and Credit Scores

https://www.aarp.org/money/credit-loans-debt/info-2022/credit-report-scores-changes.html?cmp=EMC-DSO-NLC-WBLTR-SAPLA--MCTRL-043022-HT3-6330031&ET_CID=6330031&ET_RID=145275068&encparam=FlJbCnIAzxpI%2fY4sHDAPgxFP5sIfJiZcG8mb8lELEbc%3d

Credit Reporting Changes Could Affect Your Bottom Line How medical debt, ‘trended data’ and more shape scores

https://www.cnbc.com/select/medical-debt-credit-report/

From the article:
"This means that if you’ve paid your medical bill in full and the debt is still sitting on your credit report as a negative mark, this negative mark will now be removed."

Hmmm...I have a question. If you settled the account, does that count? Inquiring minds want to know. 😉

Your medical debt may no longer hurt your credit score — here's why The three largest credit bureaus announced they're beginning to eliminate medical debt collections from consumers credit reports. Here's why this matters.

Text/Call 215-350-2483 for more information!🙂

The Credit Woman, LLC Turning Self Worth into Net-Worth! Let's talk wealth building; it starts with your budget/credit.

https://qz.com/2113288/how-to-tell-if-you-qualify-for-navient-student-loan-forgiveness/

Navient’s student loan settlement primarily applies to delinquent borrowers The student loan servicer reached a settlement with attorneys general in 39 states and pledged to cancel $1.7 billion in debt.

I haven't updated in a while, but this is what I have been doing for the last year. 🥰

Please share!

Employment Opportunities. The first step in effective credit counseling is Income.

Educators On Call

https://www.facebook.com/jobs/job-opening/523657348964087/?source=share

www.facebook.com

New day; same message! 😁

As I speak to clients and friends, many are not aware of the importance of July 15th. Did you know you are eligible for the funds whether you have filed taxes or not? Wow, right! The purpose of the funds is to reduce childhood poverty.

Please share this information with anyone with children under 18 years of age.


To learn more: https://lnkd.in/eX3dPfh

Sometimes there isn't any rhyme or reason to why your score goes up or down, but stay the course.

Note: A $21 decrease in a credit card balance raised my score in under a month by 64 points. 🙃

Student Loan Update: COVID-19

To provide relief during the COVID-19 emergency, your federal student loan payments were suspended. Additionally, interest was temporarily set at 0% on federal student loans.

These benefits are not permanent and are scheduled to expire Dec. 31, 2020.

If this applies to you and you are still 'recovering' from the pandemic, contact your government officials today to campaign for further forbearance.

Obviously, your credit will be marred if you default on these loans.

Federal Student Aid

Paying down your credit card balances will increase your credit scores. At least that is the general rule of thumb. So, when I received a notification that my score changed, I casually looked. Why did my TransUnion go up 5 points and my Equifax went down 2 points?

Refer to the image; I have no explanation. 🤓

Today at 11am!

Zoom Meeting

https://us02web.zoom.us/j/86109231784?pwd=MWpzY0Y1c0gyOFYyc2RhK1EzeTdUdz09

Meeting ID: 861 0923 1784
Passcode: 724414

Dial by your location
+1 646 558 8656 US (New York)
+1 301 715 8592 US (Germantown)
+1 312 626 6799 US (Chicago)
+1 669 900 9128 US (San Jose)
+1 253 215 8782 US (Tacoma)
+1 346 248 7799 US (Houston)

“In three words, I can sum up everything I’ve learned about life. It goes on. In all the confusions of today, with all our troubles…with politicians and people slinging the word fear around, all of us become discouraged…tempted to say this is the end, the finish. But life – it goes on. It always has. It always will. Don’t forget that.”

--Robert Frost, Poet, on his 80th birthday in 1954



Join us this Saturday.

Next Saturday!

Who is saving money during the pandemic?

If need help creating a plan, contact me today.🙂

The Pandemic Has Created a Class of Super-Savers “We’re just rife with cash and it has led to a decent amount of guilt.”

What else would you add to this list?

Some days I literally need to do this. 🙃

If you are fortunate enough to have income, stay on target with your budget. If you don't have one, contact me today. 😉

It is the first Monday in the month and a great time to think about new beginnings.

Today America celebrates its independence. When will you?

NOTE:
During these times of COVID-19, accessing your credit is important. That's why Equifax, Experian, and TransUnion are now offering free weekly online reports through April 2021.

This is great since normally you would only be able to access them annually. If you need assistance with understanding or correcting your credit, please contact me.

Annual Credit Report.com - Home Page During these times of COVID-19, accessing your credit is important. That's why Equifax, Experian, and TransUnion are now offering free weekly online reports through April 2021.

The candy is fun, but if you are receiving 3 pays in July (this Friday!) and haven't budgeted for this 'windfall', contact me today.