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Credit and finances are concerns that constantly play in our minds. “Can I qualify for a mortgage to buy a house?” “My expenses are higher than my income. What can I do?” “The bill collectors are after me. How can I stop them?” “My credit report is ruined from a divorce. Help me!” Most people, at some time in their lives, experience some type of financial hardship. Addressing the problems quickly and correctly can make all the difference in the world between solving problems and having them remain ongoing. Unfortunately, most people tend to bury their heads in the sand and hope the problems will disappear. One of the first questions interviewers ask us is why people get into the financial problems that they do? The answer is that most adults and young people lack education on how the credit system works. Very few schools teach this topic and most parents never teach their children the importance of handling credit and money. Unfortunately, we often learn about credit and finances the hard way: negative entries can remain on our credit reports for up to ten years. Daily we are inundated with questions from callers and clients who are facing difficult situations and need answers today. We have been on several hundred radio and television talk shows where the telephone lines are jammed with individuals seeking answers to their problems. This web site is a compilation of questions that we have been asked either on the radio, TV or at our office. The stories that we share with you in are true (the names have been changed). We have discovered that everyone has a story. Some problem details may be different from yours, but frequently the solution is the same. It is amazing how often we find ourselves feeling as though we are the only ones in the world with financial problems or facing financial challenges. You’re not alone, and not being alone with a problem somehow makes us feel better. This web site is the result of many of clients’ requests. The questions being asked are followed by direct answers. We will attempt to provide information on all areas of credit. We have divided our discussion into three sections. Part One -- Keys to Obtaining Credit -- covers all areas of obtaining credit. This part will answer your questions if you want new credit or a mortgage, never had credit, women and credit, overcoming credit denials, unsolicited and preapproved credit cards, and understanding the credit reporting agencies as well as your personal credit reports. Part Two discusses credit problems. This part will answer your questions about credit and charge card problems, marital problems, handling financial problems after a divorce or death, collection agencies, communicating and negotiating with creditors, cosigning, and bankruptcy. Part Three helps you guild your financial future. This part answers questions on getting out of debt, repairing your credit report, and reestablishing your credit after financial problems or a bankruptcy. There also is a section on common miscellaneous questions. In our more than twenty years in the credit consulting business, we have heard stories that have been heart-rending. Credit and financial problems can happen to anyone at any time. Everyone facing financial challenges needs hope—and a plan. It is our sincere desire that anyone who reads through our advice will gain knowledge. With knowledge and a plan, you will be empowered to come to a quick decision and solve whatever problem you are facing. |