Monday, February 17, 2020

Take 5 simple ways to get out of credit card debt in 2020

avalanche debt, consolidate credit card debts, credit card balance transfer, credit counseling agencies, credit score, debt management program, debt snowball, home equity loans, repay your debt,

Hi there! The New Year has just begun. Everyone has taken new oaths and made resolutions. If you ask for my suggestion, I will tell you to first get out of credit card debt/debts in the New Year. Make it your resolution for the New Year so that you do not have to pay out a huge interest rate on credit card anymore.
Here are 5 simple ways to get out of credit card debt quickly.

1. You can opt for debt management programs to get out of credit card debt in 2020
The non-profit credit counseling agency may help you with debt management programs when you are suffering from debt problems and a bad credit score. 

What are debt management programs?




The the non-profit agencies may figure out a debt management plan for you to get rid of your credit card debt. 


First, you have to sign a deal with the credit counseling agencies.


Second, make a single monthly payment to them each month.


Third, the credit counseling firm will disburse the amount among your multiple creditors. 


NFCC and the National Foundation for Credit Counseling are good places to start the program.

How the debt management program will help you

  • The credit counseling firm will guide you on how to make a budget. The training will be ideal for you to avoid such credit card debts in the future. 



Under the program, the non-profit agency will negotiate with the creditors to lessen your interest rate. 
  • The creditors may offer you a longer payment duration after the negotiation. 

2. You can consolidate your credit card debts in 2 methods 




You can choose credit card debt consolidation to get out of credit card debt. The debt consolidation will help you by merging the multiple debts into a single debt. 
Check out the balance transfer method to pay off the credit balance with 0% interest rate
Choose a balance transfer card if you have a huge outstanding balance on a high-interest credit card. The balance transfer card may offer you a 0% interest rate or a low-interest rate on the outstanding balance, in the introductory period. 


The introductory period stretches from 6 months to 18 months. In this span, the interest rate on your transferred outstanding the balance will be minimal or zero.


You can opt for the balance transfer method. It is okay. But you can only avail of this option when you have a good credit score. 



Usually, 700 points or above is considered a good credit score in the The US.
                
What to do when your credit score is not good enough to impress a lender?  



Try out home equity loans.

      B. Home equity loans:




Home equity loans can help you consolidate your credit card debt apart from your balance transfer method.

What do home equity loans mean?




You are applying for a loan by keeping the equity of your house in the collateral mode. Use this loan to repay your multiple credit card debts.

How do you get help with home equity loans?




You will get a low-interest rate option to pay off your credit card debt if you have opted for home equity loans. 


But my suggestion is to choose the home equity loan option only when your credit score is not good. If you fail to pay off the debt, then there is a huge chance your house will be seized.   

3. Borrow money from peer-to-peer lenders to repay credit card balance




Have you heard about Funding Circle, Upstart, and Prosper Marketplace? Well, these 3 names are considered reputed P2P (peer-to-peer) lenders. The interest rate depends on the loan term and the credit rating of that particular borrower.



You may get a new loan at a 5.6% interest rate in peer-to-peer lending if you have a brilliant credit score. In comparison, the interest rates on credit cards are 14.08% for the 'Excellent Credit’ category and 20.68% for the Good Credit’ category respectively.  



Calculate how much money you are saving each month by borrowing from a P2P lender to pay off your outstanding credit card debt. You can borrow up to $25,000 from a P2P lending platform to pay off your credit debt.  

4.  Try out the debt snowball & debt avalanche method to pay off your debt 

First, we should discuss the debt snowball method. Start by paying off the smallest credit card debt. When the first and smallest debt payment is over, concentrate on the second smallest debt payment. Continue this debt payoff formula until all the debt repayment is over. 



The debt avalanche is just the opposite of the debt snowball method. Here, you can start by paying off the highest credit card balance instead of the smallest one. After the highest debt repayment is over, next concentrate on the second-highest outstanding balance. Gradually, pay off the debt from the top level to the bottom level smallest debt.    

5.  Negotiate with the credit card company to repay your debt 

Never hesitate and make direct contact with the credit card company if you are going through a troubled financial condition. Credit card firms may offer you relief for a short while on interest rates. You must be clear about the duration of the interest-rate-relief-period in the first meeting with them. It is very important. Try to clear the credit card's outstanding balance within the relief period of the reduced interest rate.

However, a financial coach may help you while you are in troubled financial condition due to your credit card debt. A financial coach works with the clients at close quarters and helps them to get out of a finance-related distressful and stressful situations in a soothing way. It will be better for you to consult a financial coach for a debt-relief plan to get out of credit card debt quickly in 2020.

Thursday, January 23, 2020

When HO-HO Turns into Oh No No!: Dealing with post-Christmas credit card debt




What to do when you open up the credit card statement to only find that you spend way too much for Christmas gifts? It is almost like little gremlins came out and used your credit card when you were sleeping. According to financial expert Derek P. Bliedung of the Columbus Financial & Success Coach. What you do when you find yourself in that situation is to keep claim. Take 3 large breaths, and think what is my next move.

The next move can you afford to make the minimum credit card payment? If you find the minim credit card payment will exceed your budget. Here are something you can do correct the problem:
  1. You can try to reduce expenses, going on a budget and see if there are ways to reduce household expenses such as smartphones, cable tv, insurance, food ect. If you are on maximum saving already, go to the next step.
  1. You can try to use your talents and get join the gig economy, where individuals can outsource your own specialized talents. 
     
  2. Short term employment or the old school part-time job to pay off the debt. There is a web site like Shortstints or Flexjobs where you can search for short term employment opportunities. 
     
  3. You can try a lower interest with debt condensation loan to bring the payments into a manageable level for your budget.
  1. Credit counseling is where you renegotiate the terms of your loan and placed it into a repayment plan. You will not have the use of your line of credit or no longer can use your credit card(s).
  1. You can consult with a professional financial coach to evaluate your situation and make personal recommendations based on your situation.

Sunday, November 24, 2019

Questions and Answers

What is a financial coach?

A: financial coach helps their clients with the basics of money

management: inducing budgeting, reducing household expenses.

The best way to reduce debt or get out of debt. They work with clients who

may have a bad relationship with money or who have other obstacles keeping

them from managing their finances well. Their goal is to help their

clients develop healthy money habits that will last.

What is your main website?
 A:  Website click here


What is a Financial Planner?

A: Financial planners work with individuals, families, to help these

clients understand their financial circumstances and

how to reach their short-term, mid-term and long-term financial

objectives. What we do is look at your current situation.

See any areas in which we can be improved and make recommendations. We

would look at things like income both incoming and

outgoing. To see what we can do to reduce expenses and place more of the

income into paying off debts. in some cases adding

insurance products such as short and long term disability, life insurance,

etc. We make recommendations on investing for the

short, mid and long term, including retirement. Sometimes we make

recommendations that the client feels is too passive or aggressive

and by working with the client with adjusting our plan to make it a better

fit.


What is credit repair?

A: Credit repair is removing incorrect or inaccurate information from your

credit report. In practice, we will improve your

credit score. It is illegal to make a false statement in the disputation

process. Often clients think it magic build to

improve their credit overnight. Often there is little incorrect

information that can be legally disputed. This leaves

the client to going through financial coaching, debt management, money

management, credit counseling & financial Planning to

improve their credit score or fico score.


Can credit repair help?

A: At Columbus Financial Coach & Success Coach a credit repair company

removes negative items from your credit report &

helps improve your credit score or Fico score on your credit report.

Making it easier to obtain a mortgage, car loans,

credit cards or insurance. No credit repair company can guarantee that a

a bad score will be improved.


What is money management?

A: Money management like money coaching or financial coaching helps you

better manage your money or your financial situation. What

we do is look at your current situation. See any areas in which we can be

improved and make recommendations. We would look at

things like income both incoming and outgoing. We will set up a budget to

see what we can to reduce expensively and place more

of the income into building savings, paying off debts and improving your

overall financial life or your life with money.


Why is debt management important?

Assessing debt management performance – Why It Is Important. The analysis

and management: In an ideal world we all want zero

debt. But let's be realistic, how many we have the money to buy a car or

a house without a loan from a bank or credit union?

So, we get the loan and pay it off over time, Great. We get comfortable

with the idea of having debt and we take advantage

of the credit cards giving us cash back or travel miles. With the idea, we

can pay it over in time. We end up over

spending and even might even run up the credit card so much we can't pay

even the minimum payment any longer (Your credit

card once was great, now spotty due to high debt and now can't get a zero

percent credit card to lower their payment. This

when we receive a call from the client telling me they can't pay there

bills help, help, help! So I hope this example tells

you why it is so important to manage your debt. Debt is an easy way to

financial hardship. This is when I do financial coaching

see above. I will try to have the client placed into a hardship program to

reduce the credit card debt interest and place

them on a payment plan (Credit Counseling see below).


What is credit counseling?
A: a credit counselor helps a client with debt management and paying off

credit card debt that will aid with credit repair.

Our duties include reviewing revenue for a customer and creating a plan to

help them manage or pay off a credit card and other

consumer debt.


Do credit counselors hurt your credit?

A: Participating in credit counseling does not affect credit scores

directly. But a comment may be added to the accounts in

your credit report that is being repaid through a credit counseling

program or debt management plan. So, lenders may see

that fact. However, that comment won't affect credit scores.

Is credit counseling a good idea?

A: Credit counseling can be a good resource for those who would like

assistance with their credit and financial plans.


What is a money coach?

A: Money coach like a financial coach helps you better manage your money

or your financial situation. What we do is look at

your current situation. See any areas in which we can be improved and make

recommendations. We would look at things like income

both incoming and outgoing. To see what we can to reduce expensively and

place more of the income into paying off debts and saving the plan. 

Do I need a financial advisor, financial coach or financial planner?

A: Put simply, a financial advisor refers to anyone who helps clients

manage their money. A financial coach helps one one

with money issues, but also help one deal with the stress of the hardship

of a financial crisis. A financial planner may

also have certain areas of expertise, such as investment planning,

retirement planning or education funding planning.


What is Transnational Financial Life Coach or Success Coach?

A: Once we have all the Financial issues under control. (financial

coaching, money management money coaching, debt management,

credit counseling, & credit repair). This where we start looking at you a

whole person: Body, mind, and soul. This is a total

transformation what we at the "3 pillars of success" at Columbus Financial

Coach & Success Coach. By working on each pillar

physical, mental/emotional, and spiritual. This affects improving your

overall performance. Even if you work at a

dead-end job. You will improve your performance and attitude which interns

give you're better raises in pay and opens you up to

move up in the company. Now on the spiritual side: Zig Zeaglar stated

people that attended church regularly was able

to make $5000 over than the average person in salary. Now, what if we help

you connect to the spiritual side (enlightenment, higher vibrational

frequencies, higher state conscience). Your spiritual advisors (Angels,

Creditor, Supreme Spirit or God) guide you in life. How much can you make

if they guided you to success? Unlimited! This, not a new-age sales pitch.

Humans can and are having communications to the spiritual

universe, myself and many others are doing it, why not you?


How much should I pay for coaching?

A: our prices start at $27 a half-hour & $47 for an hour. We have packages

of $135 for 3 hours and $185 for 5 hours of

coaching. We can have payment plans or other agreements for clients in

hardship.


Can I do financial services myself, do I need to have a financial coach?


A: No, you can do it yourself. But the advantage of hiring someone is that

you will not have to spend hours researching how to do this financial

progress. And may avoid many of the pitfalls that an expert can help you

avoid.

In what situation does the client come to you for financial coaching &

financial services?


A: In most cases, clients come to me when there is financial pain or over

their head in debt, going through a devoice or other financial hardship.



What are your hours of operations?

A: 9:00 am to 6:00 pm Friday to Tuesday. But, work from appointments for

any of our services.

Is there any situation where financial coaching can't help the client?

A: There are times where clients need overnight or short term rescuing.

Often our services need time to work and blossom. We can't offer instant

results. In these cases, I recommend looking at our law of attraction

service or manifesting services. I personally can't perform miracles but

God, Spirt & Universe can.


What is a financial coach?

A: financial coach helps their clients with the basics of money

management: inducing budgeting, reducing household expenses.

The best way to reduce debt or get out of debt. They work with clients who

may have a bad relationship with money or who have other obstacles keeping

them from managing their finances well. Their goal is to help their

clients develop healthy money habits that will last.


What is a Financial Planner?

A: Financial planners work with individuals, families, to help these

clients understand their financial circumstances and

how to reach their short-term, mid-term and long-term financial

objectives. What we do is look at your current situation.

See any areas in which we can be improved and make recommendations. We

would look at things like income both incoming and

outgoing. To see what we can do to reduce expenses and place more of the

income into paying off debts. in some cases adding

insurance products such as short and long term disability, life insurance,

etc. We make recommendations on investing for the

short, mid and long term, including retirement. Sometimes we make

recommendations that the client feels is too passive or aggressive

and by working with the client with adjusting our plan to make it a better

fit.


What is credit repair?

A: Credit repair is removing incorrect or inaccurate information from your

credit report. In practice, we will improve your

credit score. It is illegal to make a false statement in the disputation

process. Often clients think it magic build to

improve their credit overnight. Often there is little incorrect

information that can be legally disputed. This leaves

the client to going through financial coaching, debt management, money

management, credit counseling & financial Planning to

improve their credit score or fico score.


Can credit repair help?

A: At Columbus Financial Coach & Success Coach a credit repair company

removes negative items from your credit report &

helps improve your credit score or Fico score on your credit report.

Making it easier to obtain a mortgage, car loans,

credit cards or insurance. No credit repair company can guarantee that a

a bad score will be improved.


What is money management?

A: Money management like money coaching or financial coaching helps you

better manage your money or your financial situation. What

we do is look at your current situation. See any areas in which we can be

improved and make recommendations. We would look at

things like income both incoming and outgoing. We will set up a budget to

see what we can to reduce expensively and place more

of the income into building savings, paying off debts and improving your

overall financial life or your life with money.



Why is debt management important?

Assessing debt management performance – Why It Is Important. The analysis

and management: In an ideal world we all want zero

debt. But let's be realistic, how many we have the money to buy a car or

a house without a loan from a bank or credit union?

So, we get the loan and pay it off over time, Great. We get comfortable

with the idea of having debt and we take advantage

of the credit cards giving us cash back or travel miles. With the idea, we

can pay it over in time. We end up overspending
 and even might even run up the credit card so much we can't pay even the minimum payment any longer (Your credit

card once was great, now spotty due to high debt and now can't get a zero

percent credit card to lower their payment. This

when we receive a call from the client telling me they can't pay there

bills help, help, help! So I hope this example tells

you why it is so important to manage your debt. Debt is an easy way to

financial hardship. This is when I do financial coaching

see above. I will try to have the client placed into a hardship program to

reduce the credit card debt interest and place

them on a payment plan (Credit Counseling see below).


What is credit counseling?

A: a credit counselor helps a client with debt management and paying off

credit card debt that will aid with credit repair. Our duties include

reviewing revenue for a customer and creating a plan to help them manage

or pay off a credit card and other

consumer debt.

Does credit counselors hurt your credit?

A: Participating in credit counseling does not affect credit scores

directly. But a comment may be added to the accounts in your credit report

that is being repaid through a credit counseling program or debt

management plan. So, lenders may see

that fact. However, that comment won't affect credit scores.

Is credit counseling a good idea?

A: Credit counseling can be a good resource for those who would like

assistance with their credit and financial plans.


What is a money coach?

A: Money coach like a financial coach helps you better manage your money

or your financial situation. What we do is look at

your current situation. See any areas in which we can be improved and make

recommendations. We would look at things like income

both incoming and outgoing. To see what we can to reduce expensively and

place more of the income into paying off debts and saving the plan. 

Do I need a financial advisor, financial coach or financial planner?

A: Put simply, a financial advisor refers to anyone who helps clients

manage their money. A financial coach helps one one

with money issues, but also help one deal with the stress of the hardship

of a financial crisis. A financial planner may also have certain areas of

expertise, such as investment planning, retirement planning or education

funding planning.


What is Transnational Financial Life Coach or Success Coach?


A: Once we have all the Financial issues under control. (financial

coaching, money management money coaching, debt management,

credit counseling, & credit repair). This where we start looking at you a

whole person: Body, mind, and soul. This is a total transformation what we

at the "3 pillars of success" at Columbus Financial Coach & Success Coach.

By working on each pillar physical, mental/emotional, and spiritual. This

affects improving your overall performance. Even if you work at a
dead-end job. You will improve your performance and attitude which interns

give you're better raises in pay and opens you up to move up in the

company. Now on the spiritual side: Zig Zeaglar stated people that

attended church regularly was able to make $5000 over than the average

person in salary. Now, what if we help you connect to the spiritual side

(enlightenment, higher vibrational frequencies, higher state conscience).

Your spiritual advisors (Angels, Creditor, Supreme Spirit or God) guide

you in life. How much can you make if they guided you to success?

Unlimited! This, not a new-age sales pitch. Humans can and are having

communications to the spiritual

universe, myself and many others are doing it, why not you?


How much should I pay for coaching?


A: our prices start at $27 a half-hour & $47 for an hour. We have packages

of $135 for 3 hours and $185 for 5 hours of

coaching. We can have payment plans or other agreements for clients in

hardship.


Can I do financial services myself, do I need to have a financial coach?

A: No, you can do it yourself. But the advantage of hiring someone is that

you will not have to spend hours researching how to do this financial

progress. And may avoid many of the pitfalls that an expert can help you

avoid.


In what situation does the client come to you for financial coaching &

financial services?


A: In most cases, clients come to me when there is financial pain or over

their head in debt, going through a devoice or other financial hardship.


What are your hours of operations?

A: 9:00 am to 6:00 pm Friday to Tuesday. But, work from appointments for

any of our services.


Is there any situation where financial coaching can't help the client?

A: There are times where clients need overnight or short term rescuing.

Often our services need time to work and blossom. We can't offer instant

results. In these cases, I recommend looking at our law of attraction

service or manifesting services. I personally can't perform miracles but

God, Spirt & Universe can.

Wednesday, September 25, 2019

5 Easy guidelines to avoid money management mistakes

money management skills, budget, debt, Poor credit rating, harassed by debtors, finance, money investment schemes

A proper money management plan will help you to achieve both long term and short term financial goals. If you learn how to organize your money from a young age, it will be very helpful for you in the long run.

4 Factors considered as poor money management skills

Do you practice any of these money management skills? If yes, then you can face money problems in the near future.

1. Failing to plan a proper budget:

The first and foremost thing about money management is the budget. If you cannot strike a proper balance between your spending and saving, then I am sorry to say you are going to suffer badly very soon.


2. Irrational money borrowing:

It doesn't matter what your income level is. Always try to spend according to your limit. Repaying the money is tougher than borrowing it. You can easily borrow money from your close friends and family members as they trust you. But if you are not able to repay the loan on time, the cordial relationship will not take a second to get bitter.


3. Getting into unnecessary debt:

There is nothing worse than getting into unnecessary debt like charging credit cards or taking out needless loans. If you don't pay off on time, scores of trouble will befall on you.
Check the harsher consequences of getting into unnecessary debts in the next point.

4. Paying bills after the due date is over:

Paying the bills late or not paying the amount at all is a poor money management skill. You cannot escape from your due payment. Later with penalties, the payment will grow into a huge amount. Ultimately, it is your loss that a simple payment process gets complicated because of your fault.

3 Consequences that follow the unprofessional money management skills

Probably you have already understood how much pressure you can be put into if you don't have proper money management skills. Now take a quick look at the consequences of it.

1. No future savings:

If you have created your budget in an unprofessional way, saving something for the future is next to impossible. Without saving anything for the future, you cannot maintain your lifestyle after retirement. Even at present, savings can keep you safe from any kind of financial or health emergencies uprightly.

2. Being harassed by debtors:

Taking out debt is easier than paying it off on time. Skipping one payment means next time you are going to pay it with a higher interest rate. The more you will keep the balance due, the situation will be worse. From regular bill statements to third party debt collectors, you will be bothered to the utmost point.

3. Poor credit rating:

Being harassed by debtors is not the only consequence of taking out unnecessary loans. Your credit rating will also affect negatively if you do not pay the entire amount on time. Your credit account status will also show your payment is due. As creditors generally make loan-related decisions after checking your credit rating, so, in the future, they may deny you to give out a loan.

Follow the 5 easy steps of money management

Money management is no rocket science at all. You just need to make a proper planning. Have a look at how you can manage your money in an uncomplicated way.

1. Plan your finance:

The best way of living a hassle-free life is making your financial plan. Here ‘financial plan’ signifies to prepare a realistic budget and follow it. Make the financial plan in such a way that every month you can save a considerable amount.

2. Buy only what is necessary:

Do not plunge into unnecessary buying. If you focus more on wants than needs, it means you are spending your hard-earned money carelessly. You can rather concentrate more on buying only what is required.

3. Keep a check on debts:

You can easily solve your debt problems if you keep a check on unnecessary debts. We do not always take out loans out of necessity; sometimes we take them out after getting lured by their offers. So, if you have multiple credit card loans, opting for credit card consolidation can solve your credit card debt problem. It is the simple way of handling your multiple credit card debts.

4. Emphasize more on savings:

If you emphasize more on savings, you will be free from getting entrapped into loans. Even a financial expert will advise you that buying things with your money is a hundred times better than buying something on loan.

5. Learn about money investment schemes:

If you truly emphasize on savings, then you can easily put some amount into investment schemes.You can get an option of saving your money from tax by keeping it in a tax-saving investment scheme.
Our life revolves around uncertainty; so, providing financial security to your family should be your topmost priority. If you think you can’t manage your financial situation on your own, you can take the help of professional credit counseling. However, you can save money by doing credit counseling yourself.

According to a Forbes report, the majority of US employees are still struggling with basic money management mistakes. The article desires to guide you in planning a proper money management program so that you can lead a happy post-retirement life. 

Thank you, Aiden White, for this wonderful guest post. 
Credit Card Consolidation | Facebook | Twitter

Thursday, June 13, 2019

7 Essential Personality Traits You Need to Get Started in the Gig Economy

Gig Economy, self employment, business start up,

Have you been thinking about giving the gig economy a shot? Maybe you want to start a side-gig or jump into full-time freelance? Getting a start in the gig economy is simple, but being successful takes a certain kind of personality. Do you have what it takes? Keep on reading to find out.

A Sense of Adventure

If you live for adventure, then running your own gig business may be for you. Becoming a business owner means you’ll be delving into areas of work that you may not have a lot of experience in. You’ll be responsible for setting up your business from scratch and any marketing you need to attract customers. But you’ll also be opening yourself to paid opportunities you’ve never even thought of before. For example, if have a knack with numbers, you can freelance helping other businesses manage their books. Sites like Fiverr can help you get started and will open up a huge customer base to you. Plus, you can use Fiverr in your own business marketing by hiring a graphic designer, copywriters, or other freelancers like yourself.

People Skills

If you plan to run your own business, interacting with people and building relationships is a must. Good interpersonal skills, also known as soft skills, will help you communicate, manage your emotions, negotiate, solve problems, and resolve conflict. But that’s not all--they’ll also help you get clients. Most prospective customers will want to interview you before they decide to hire you, so it wouldn’t hurt to brush up on successful interview techniques that will help your skills, both interpersonal and practical, shine.

An Ability to Stay Organized

The organization is key to successfully running your own business, whether it’s a side-gig or a permanent freelance startup. You have to keep your schedule balanced and organized to make the most of your time and meet deadlines. Think about downloading a calendar or task-management app for your phone or laptop. These helpful tools will allow you to productively keep track of your work throughout the day and can even send you reminders to help you stay on top of things.

Some Serious Flexibility

Work can come in at a moment’s notice, so you need to be flexible in your schedule as well. One of the perks of the gig economy is that you have some control over when you work and for how long. You may be able to write some freelance articles on the weekend or pick up some passengers for your rideshare gig on holidays. Making the most of your gig means being flexible as to when you work. You don’t have to stick to a 9-5, and you may not have to work eight hours a day. Flexibility is part of any freelance or side-gig work.

Tenacity and Integrity in All You Do

When you run your own gig, you are your brand. You have to go out and be proactive in seeking out lucrative opportunities. You have to put yourself out there to get the work you need to make your business successful. Social media and the web are perfect avenues for promoting your business and getting the attention you need. Be honest with your customers and be committed to your work so that you can ask for reviews from happy clients. In this day and age, reviews can make or break a business. So keep your reviews at a five-star rating at all times.

A Knack for Adapting

Clients’ needs and expectations can change with time, so you have to be willing to evolve your business to meet shifting needs. This may mean targeting different demographics or updating the way you market yourself in the community. Be aware of current business trends to stay relevant to your gig.

You’ll also need to adapt some parts of your life. If you don’t have a home office or workspace with some basic equipment and furniture that will help you focus on your business, now is a good time to set one up. If you want to spend a little extra, you can hire a handyman or carpenter to custom build a desk, cabinets, and cord organizer. Depending on how much work you need to be done, it should cost you $146 - $576 to hire a handyman in Columbus.

The Desire for Financial Independence

If you want control over your life and finances, working for yourself is a good option. Freelance and gig work allows you to control your finances and puts you in charge of all of your profits. You can typically set your own rates for the work you do, and determine when it makes sense to give yourself a raise. Gig work also means that paychecks may not come on a regular schedule, so you need to have a tight budget worked out as well.

If you have what it takes, then gig or freelance work may be the perfect fit for you. Financial freedom, personal flexibility, and extra income are just some of the perks, so good luck getting your start with your own gig!

Photo Credit: Pixabay

Julie Morris
Life and Career Coach


Monday, May 27, 2019

How to Repair Your Own Credit & Fico Score

How to Repair Your Own Credit

An a credit score is important because it determines your ability to borrow funds. Unfortunately, for some, your credit score may have gone done due to unavoidable circumstances. Worry not because you can still, repair your own credits, improve your score consequently better your ability to get loans from creditors on affordable terms. Remember that improved credit score opens opportunities to qualify for lower costing interest rate loans and better borrowing terms. 
 
However, credit repair is more like enhancing your professional network. You may not think of it until you need it and that would really inconvenience you because it’s not something you can repair overnight. So, if you have a bad credit score, you need to start its repair now so that you can have an easier time when you really need it.
How to Repair Your Own Credit & Fico Score

Why You Need to Repair Your Credit
You need to pursue credit repair because it is vital when looking for loans, credit cards, and saving money on insurance. It's also critical when you are looking for a good job. A good credit score will avail you new employment opportunities, promotions at your workplace, and earn you raises in your salary with your current employer. Moreover, if you plan to start a business or want to be sure that you can get a loan when you need it then you have no option but repairing your credit.
It is not difficult to repair it and you simply need to follow the steps that I will explain in the following paragraphs:

Evaluate your credit score reports:
The first step is to evaluate your credit score reports. There are certified credit bureaus that can give you one free copy of your report annually. You only need to request them to send your latest credit report. The report will give you an overview of all the past mistakes that have led to your poor credit rating. Read it keenly and note all the negative things that have affected your credit score.

Review Report for any Errors:
 Secondly, review the credit reports for any errors. You can see all items that have been listed in the public record; detailed information on every account you hold; and inquiries made to your credit report. 
 
Next, decide on data that needs repair. These include incorrect information, for example, all accounts that you don’t own, payments that have been reported incorrectly late. Also, check past accounts that are charged-off, late or have been sent to a collection agency.
You can then use a different color of a highlighter to mark each type of information to do your work easy when planning for repair. This makes it easy even in the future when ready to call creditors, make a payment or send a letter.

Dispute any Errors:
The third step is to dispute credit report errors. It's your right to dispute any inaccurate information in your credit score and others that are not verifiable or incomplete. When you get your credit reports from the bureau, you will get information on how to send your disputes. You can equally do it online, make the disputes through the mail or phone call. The best method for sending disputes is regular mail because it offers enough benefits. First, you can attach a document to support your disputes, and you can keep a copy of your dispute letter for fire use. Additionally, sending a dispute via regular mail with a return receipt request, you will have proof of the time you mailed. This is essential because credit bureaus take 30 to 45 days to investigate then respond to your complaints.
When you send your disputes include a copy of your credit report with highlighted items that you are complaining about. Then ensure you attach a copy of any proof supporting the dispute. Failing to send enough information can make the credit bureaus dispute it terming it frivolous. Consequently, they will refuse to investigate your dispute or updating your credit score report. Alternatively, you can send the disputes directly to the bank or company that listed the data on the credit report. They are legally obliged to investigate any dispute then delete incomplete, inaccurate and unverifiable information from the report.
After a successful dispute, the bureau updates your credit report, alert other credit bureaus then send you a copy of your updated credit report. 
 
Handle past due Accounts
The next step is to tackle your past due accounts. Have in mind that your payment history greatly affects your credit score more than any other aspect. It's approximately 35% of your credit score. Therefore, if you hold numerous past accounts that are past due on your credit report then they will significantly hurt your credit score. Hence, it's vital to ensure that your past due accounts either read current or paid. 
 
You can get current your past accounts that are not charged-off. One of the worst account statuses is charge-off which occurs when your payments have passed 180 days after the due date. Some accounts are delinquent even though they are less than 180 days past due date; you can save them by paying the full amount. It is worth noting that the farther behind your move, the higher your catch-up payment will be. Therefore, call your creditors soon to start a payment plan and get back to current. 
 
You can negotiate terms so that they can waive some of your penalties or spread your past due balances over some time. You ought to inform them that you are worried about charge-off thus you need their help. The creditors might understand you and even re-age your accounts to read current payments rather than the delinquent.
Then pay the charge-off account balances. Don't let them get older because your outstanding credit balance will hinder you from obtaining new credits. Therefore, paying charge-offs must top your list of credit repair. After paying them in full, your credit report will be updated to read paid. However, the charge-off status will show in your report for seven years. However, you may convince the creditors to delete your charge-off status from your credit report at a fee. Nevertheless, it is not easy to do this. Your focus should be to get a favorable account status. 
 
Management of Collection Accounts:
The next step is to manage collection accounts. Normally debt accounts are sent to a collection agency after they have been charged-off or have been dormant for several months. You can either pay them in full or pay less than the balance.

Check Loan Status:
The following thing is to check your loan status if you have any. If you borrowed money and still close to the original loan amount, it will affect your credit score negatively. The more you pay the loan the better for your Fico score. However, before paying other loans focus on clearing credit card balances because they have a worse effect on your credit score. 
 
Prioritize Payments:
Then prioritize spending money in the process of credit repair. You should focus on accounts that are almost past due first then make all current. Afterward, bring down your credit card balances. 
 
Take A New Credit:
Once all your loans are current, take a new credit to help build your score. The secret is to resolve negative items on your credit report and add positive information on it. You can do this by making early payments since timely repayment will boost your scores. 
 
Also going forward, you should pay all the bills on time. This will add positive information to your report too. 
 
You can do your best to salvage your credit score. However, at times you may get rejections from lenders or get financially strained. Worry not, you can get credit counseling to help you move forward. 
 
Again, you don’t have to repair your credit alone while you can get a financial coach who can advise you on how to get out of debt, smart money management, increasing income and building wealth. He will give you strategies for success and make you understand how investing works, and how to incorporate it in financial planning.

At times bankruptcy may be inevitable when you have explored all options but not working. If so then file it early instead of trying strategies that won’t help in the long run. You can start again afterward and rebuild your life. You can seek Columbus Financial experts to guide you through financial planning and money management strategies. 
 
It is possible to live with bad credit in America today, nonetheless, it makes life very tough. The bad credit score makes several things impossible, more expensive or very difficult. For instance, some insurance companies charge higher interest rates for drivers with bad credit scores. Banks will check your credit scores before they can grant you any loan or credit card. When you are getting new utilities using your name, the corporation will confirm your credit scores first to decide whether you pay a security deposit. Therefore, do your best to improve your Fico score.


If you have any financial issues we can help! Call or visit our web page today.

Columbus Financial  & Success Coach
Transformation Financial Life Coach
614-282-3162
www.columbusfinancialcoach.com


 
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