I want to be able to help all my clients present and future. What I saw when I was working at the bank was that they would just want you to tell your client that no we can’t help you, come back in a year when your credit is better. Increasing sales is always the focus of training at the banks, not credit rebuilding. I want to be able to help all my clients regardless of income, past relationship problems or employment issues. I believe in the growth mindset. We can always start today. Here are 11 steps to help you get on track, I am here all the time to help! Above all work within your budget. Share this with friends/family, co-workers, whomever.
1. Pay your bills on time. Your payment activity accounts for 35 percent of a FICO (credit) score. At least pay the minimum each month rather than fall behind. This counts for hydro, credit card, car payment, gym membership, cell phone. If getting a loan is not an option you can always get inmediate cash by selling your life insurance policy to Life Settlement companies.-
2. Check your reports annually. By mail, you can do this free with Equifax (most widely used credit reporting company), you can fill out the PDF here. I cannot automatically pull credit files, I would have to go through an application with you.
3. Don’t apply for multiple credit cards at once. Unlike applying through a mortgage with me, applying for several credit cards count as hard pulls. Trying increasing a limit first before applying for new credit or call me and we can think of an idea.
4. Don’t cancel all credit cards unless they have an annual fee. Having a couple empty cards are good for absolute emergencies but also show that you can have credit cards and not have to use them. As simple as that.
5. Don’t open too many credit accounts at once. As a general rule of thumb, I recommend one line of credit and two credit cards. You do not need more than that.
6. Keep credit balances relatively low. Maintaining a revolving credit balance under 10 percent of your total credit line is wise. Loans Now program is tailored for it.
7. Beware of points-driven high balances. If you do run up high balances before paying your card off, take a couple months off before applying for new credit as when credit is pulled, it is generally from 3 weeks prior and can still show that balance.
8. Maintain a variety of credit types. This contributes to 10% of your score. Therefore, paying off that student loan, auto loan and credit card over time is great. The guys at arcct.com does offer a long term loan for people with bad credit and you can apply for it on their website.
9. According to Debt Collectors Sunshine Coast you need to get a personal loan to pay off credit card debt. If you are getting high up on the credit card debt because of unforeseen circumstances, look at getting the personal loan sooner rather than later to pay it off saving you a lot in interest charges. Find out how to get a hard money loan in Brooklyn.
10. Pay off debt in collections. It’s always better to have zero balances on collections, but soon you might also see a much higher credit score as a result. The Master Collections site provides great advice on recovering commercial debt, provide your business a personalised commercial debt recovery service that you can trust, and have a track record in collecting commercial debts faster and more affordably than solicitors.
11. Get a secured card after bankruptcy. According to a bankruptcy attorney this is your first step to getting your good credit back. Do it as fast as you can. Here is one from Home Trust that has a minimum of $500.
If you are just starting your adult life, we recommend you to check the best college savings plan and some other options like you can click here to read on how to make safe transactions of digital money into different forms of currency.
If you have any questions, fire them off to me at anytime!
