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AuthorMy name is Rose Jones business women and entrepreneur with a back ground in mortgages. Archives
June 2020
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Resilience what is it?6/30/2020  Yep here is a new one for you, and it came about because of the economy, its called the Resilience score. About 24 hours ago this was reported and it has a scale of 1-99. This is what it means the lower the score the better, indicating greater financial resilience in an economic downturn, such as we have now. The higher the score the higher the risk meaning you will most likely default on your payment or payments.
If your purchasing a home or auto you may want to ask if they are pulling this score, https://www.experian.com/consumer-information/fico-resilience-index
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Dun & Bradstreet5/28/2020  What is it and how does it benefit you You may have heard of this and if you have not let's get started. This is a nine-digit number used to identify your business, its issued by Dun & Bradstreet usually identified like this (D&B). The number is is like a Social Security number but for your business. If a business and or financial institution wants information on your business this is what identifies you and the business. Should your company have one? if your company is registered out side of the US it's good to have. To register with D&B, you are not required to obtain a federal Tax Identification Number (Employer Identification Number. What does the number show: This number issued are often used by lender and investors to determine a company's eligibility for credit. A D&B report contains many useful financial metrics, such as payment history and public filing information. Can you use your Duns number on credit card applications?: Applying for business credit using your DUNs Number and Employer Identification Number is how you separate your business credit from your personal credit, a lot of business credit applications ask for your EIN and DUNs number. How to build Business Credit on a Dun & Bradstreet number 1. Establish your business as a separate Entity, Ideally, business owers think about credit before.. 2. Register for a Dun & Bradstreet D-U-N-S Number. 3.Get an Employer Identification Number From the IRS. An Employer Identification Number (EIN) 4. Open a Bank Acount for your Business, your going to need that.. https://www.dnb.com/resources/how-to-build-business-credit.html
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Covid-193/28/2020  I have been receiving phone calls from a lot of viewers to my page as well as clients during this time in which we have no control of, asking for information on auto payments, car notes as well as rentals. So here is what I'm finding out.. On credit cards, its going to be entirely up to the provider of the card, I would hope they do the right thing and assist. I made three calls this morning to ask how they could or would help with them directing me to their page. Please understand they are looking at your account by the way in the past you have paid, they are not going to give you a certain arrangement if you have been late in the past or maybe maxed out before this emergency started and always paid the minimum. I called for one client that gave me permission who has a high balance always paid on time and all they would do was 2 choices, 1. pay the amount owed over a year with a 0% interest or 2. pay over 5 yrs 0% and closing the cards, now for them to go with the 2nd program the payment was reduced to lower monthly payments and for them to enroll they had to be late to enroll. provided a list of some of the cards here for you to contact, you can go to your cards web page and look for the Covid-19 arrangement and it will direct you to a page for you to either sign up or call and speak to someone, I could not access some cards because it has to be you. Please call the phone # on the back of your credit card and ask for the department that would handle payment arrangements for the Covid-19. *** Do not go out and max out your card and think they are going to forgive or help in that situation, I see a lot ot cards closed in the near future due to this virus. Goldman SachsGoldman Sachs, the issuer of the Apple Card, recently sent out an email to its cardholders announcing that those affected by COVID-19 can enroll in the Customer Assistance Program, which will enable them to skip their March credit card payment without incurring interest. You must enroll in the program online in order to take advantage of this offer. DiscoverDiscover has said that qualified customers may receive assistance related to payment timing, fees, and late payments. As with the rest of the issuers here, you should contact Discover to go over your options. U.S. BankU.S. Bank is waiving credit card fees and working to enhance its payment deferral programs for those who cannot keep up with their credit card payments. It is also offering credit limit increases to those who are interested. You should reach out to U.S. Bank directly to see what options are available to you. These were just a few. Apartments: I saw that there is an apartment here in Nevada that 1st is letting their clients know that rent is still due "shame on you" we know rent is still due, we are in a crisis and its not that people do not want to pay it just may be a little later. I have found that certain apartments here owned by the same company is not offering client in different area's the same relief "shame on you too" Now I like this one, this was offered to their clients. Rent is normally due on the 1st, you have until the 2nd, well they are giving you until the 5th with no late fee's. With a letter from your company saying you have been furloughed you have until the 15th with no late fee's and listen to this, they are giving you a $100.00 credit it paid on time or by the 5th, they value their clients..Thank you. Auto: Ally is one company who has out done themselves " Thank you for helping" This company stepped up at the very beginning, not sure of the rest but you need to ask for your auto company to assist you in payments and again its going to depend on your payments and if you have asked for assistant in the past. After this is over you most likely will need help in assisting you for removing items, feel free to contact me and leave any messages you might have on any of the items listed.
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Working homeless2/27/2020  We think of homelessness as people sleeping on the street, dirty holding signs for a hand out, this notion is so far from the truth. You might be working right beside someone that is homeless and never know it, some live out of their car's some in motels and other's in weekly stays.
America has failed us, there are many ways people become homeless, loss of a job illness, and rents souring out of control. We have a big problem because once you get to this level its hard as hell to get back, most people have been evicted and if so no one wants to rent to you and if they do its in an area that's un-desirable and the landlord is usually a slum lord. Most landlords will not or do not want to rent to a section 8 recipient because they feel their property will be destroyed and it brings down the neighborhood and property value. When your homeless you have most likely exhausted your funds, no bank account and living check to check and its not enough. To get to the bottom of this they are going to need a hand up not a hand out meaning, to be paid a living wage and a way to get back on track. If they are living out of a car they have no address, if with family they still have no rental history and bad credit history . In dealing with credit I find that its a slow climb but can be done, there are things you can do to move forward. Contact me for special pricing if your homeless. I will take only 10 people for the month of March 1-30th, the cost monthly will be $50.00. You must stay in the program for 4 month reply in the comments below to sign up or e-mail me for additional information.
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CPN'S Don't do it..2/8/2020   It’s called a CPN which stands for Credit Privacy Number. A CPN claims to be a nine-digit identifying number that you can use instead of your Social Security number to protect your privacy on credit documents. But using a CPN, instead of your real social security number to apply for loan or credit card can spell big trouble. In fact, CPN numbers have turned into one of the fastest growing con’s and frauds here in the US. And people are going to jail because of it. If your thinking about using a CPN, or even just curious. Consider the following before you do. #1 – CPN’s Are Not Legitimate First off, CPN’s are not legitimate. I repeat, CPN’s are not legitimate. Some people claim that attorneys can issue CPN’s to consumers as part of credit repair or as a way to keep their identity private. This is not true. CPN’s are not issued by any government agency. They are not sponsored by the US Government. The Social Security Administration does not issue CPN’s. The plain fact is CPN’s are nothing more than actual Social Security Numbers that belong to other people. It is identity theft – plain and simple. If a website tells you they can issue you a CPN legally – they are lying. If an attorney informs that they can set you up with a legitimate CPN for your use – you should tread very carefully. CPN’s are nothing more than a hoax against millions of well intentioned US consumers. The use of CPN’s has gotten so bad, even the FTC is warning consumers not to fall victim to shady fraudsters encouraging you to use one – FTC Warning. These companies often sell Social Security numbers illegally. If you use a number other than your own to apply for credit, not only won’t you get credit, but you also could face fines or prison. Federal Trade Commission Warning #2 – CPN’s Are Used By Credit Repair Companies To Create Synthetic Identities When someone offers to help you to get a CPN number, they are taking you down a very slippery and dangerous slope. CPN’s are used to create synthetic identities. When a credit repair company promises to improve your credit in a very short period of time they are most likely using a well defined method of forcing you into creating a synthetic identity without you even knowing it. If you are engaging in a process that looks like this OVER ON THE LEFT ITS A CPN please realize that you are creating a synthetic identity, ask yourself is it worth jail time and a record. Check out this website that is actively recruiting customers. This sure looks like a process for creating a synthetic identity to me!
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Fico or Credit know the difference2/6/2020 
How VantageScore calculates your credit scoreVantageScore isn't nearly as specific as FICO when it comes to how it determines your credit score using its scoring model. It provides a rough outline of factors it considers important and those it considers less important.
1.USA Gov.com 2. CreditKarma.com 3. Credit.com 4. gofreecreditreport.com 5. annualcreditreport.com 6. myfico.com 7. creditreport.com 8. wallethub.com 9. creditchecttotal.com 10. buildmyscore.com 11. myiqreport.com 12. credit sesame.com 13. mybankrate.com and many many more.. Looking to get a real report just sign up for either TransUnion or Experian
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Tradelines or authorized user?12/29/2019  People use credit cards in different ways, people will sell their great credit to you for a fee usually for any where from 2-4 months just enough time for you to build your credit. Keep in mind you never get the credit card its just their good credit is reporting on your credit report that all. Authorized user: Your on someone's account history, I tell people its the best way to go because you do not need to pay someone to do this. If you have a family member that is willing to allow you to help you go for it. The card they put you on should be in good standings never late, as you know if its late its going to be late showing on your card as well. You do not need to have the card and me if I had to do it I would not give my card to you. To do this the account holder needs your Social Security number and address. Trust is going to be what is needed, make sure they are good with their credit, you can be on that card as long as you want. Tradelines: These afford you to make your credit look great and in while using it you should apply for what ever you want while it's still reporting on your credit. Some people want to purchase a car but do not have car credit or very little credit so this will help you. When using or apply for a trade line you need to 1st look at your credit it's important, many people have been burned by sellers of tradelines and or did not understand how to use them or even if they should have purchased one to began with. Your credit needs to be clean and don't let people tell you it doesn't. What you do not want to do is apply for a $10,000 credit card and owe on your bureau report $3,000.00 in debt. My question is..If you have $10,000.00 why wouldn't you pay that $3,000.00? lenders look at that. You need to have a clean credit report to purchase these things and make them work for you, I never tell people to use a CPN with these because the failure rate is high. Once you purchase one move forward and apply for a credit card in your name but you only get one shot at this so be careful. You can build from there but you need to be smart moving forward, as well you can purchase more then one at a time. Contact me for additional information we can get it done and at an affordable price.
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Gambling with your credit12/22/2019  Still wondering when your credit issues will change? still thinking that if you remove items every thing will be ok? not true. Let's go over some things so you understand the steps that need to be taken.
Removing negative items: Let's start from day one, think about this if you had 8 items on your report and 6 of them are bad with the remaining 2 pretty good, credit showing for only 5 yrs. . Let's take into the consideration the whole report is only showing 5 yrs old, now think about this for a minute. You have no car payments and no mortgage but you have medical and school loans as well as credit card debt . Remember the credit cards depending on the amount and if it is being reported by the creditor or the collection company can be settled and paid in full with a settlement and deleted. Deletions: Usually the collection companies are harder to deal with when asking for a deletion but they want to get paid so we negotiate a settlement with them for less they bought the debt for pennies on the dollar. We ask for paid with deletion, sometimes they do not want to give up that letter and by law as they say they can't, you try to then call the original creditor it's always better to get in touch with the credit card company if you can they just want their money, some can be harder to deal with then others. This may go two different ways, they tell you they no longer have the file, so we go back to the collection company and start dealing strong. We ask for a lower pay off and do not stop with a rep you want to speak to a supervisor get the name number and be prepared to take notes. Believe me they want to get the books off their hands. If you settle with an amount you want it written and sent to you before you make a payment in full by ** check, cashiers check, or money order** never a credit card and you want the letter 1st. Once paid you will receive the pay off letter tell them you want that stated in you letter. Now let's start building: You have limited credit and depending on what your trying to do your going to need some good credit to make the rest look better while your still working on it, you have choices. (1) Go ahead and get a secured credit card while your working on the other 4 items, Capital One use to have a secured card that did not say secured on the report only you knew. I would put up at least $400-$500 on it because it looks better. What's left on your credit could be anything from leasing an apartment or pay day loans, they all need to be dealt with. Look at the dates, depending on the state the debt was made in they can very well be out of the statue of limitation and must be removed. Its going to depend if you spoke to them as well, if so it starts the ball rolling again, if you made arrangement to pay its yours. Never ever be so fast to settle just because they contact you, you need to think first. If you have not spoke to them and admitting to the debt you can fight them for proof of the debt its going to take some time depending on how hard they fight. let's say you get two off..GREAT! now you have 2 left. depending on what they are and how much is owed your in better shape now. You can now do this because you have your secured card right? ask a family member if you can piggyback on one of their credit cards, meaning they are just adding you to the card. Make sure that person has never been late on that card and their not maxed on it meaning owing over 30% on it. Understand they don't need to give you a card and you need to trust them that they are going to pay on time because it's going to report on your credit, if they are late your late. If you have no one you can use a trade line meaning your buying some ones perfect credit history and payments for a short period of time, you will not receive a card it will just report on you credit. This is the thing, you need to move fast once you see this has reported to the credit bureau's because it will be removed in about 60 days unless you purchase again. In that time you go and purchase an auto and or apply for another credit card which you should get and it will be higher and you have a new start. Remember lenders look for Length of credit history, Payment history, debt, credit used and New credit. Questions call me, always willing to help in any way I can.
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REALITY!!12/4/2019  Over my time in the credit repair business I have found that most people think that it's a two month process, it's not. Credit repair can take anywhere from 3-6 months and sometimes more depending on the credit. I have also had client call me to complain about other company's taking to long or not removing things fast enough, there is most likely a reason why. This is what I have seen in the business, some will make you laugh but here it is.
1. The people who go on a buying spree then want everything removed: REALITY CHECK..If its new and you do not have a valid reason such as an illness, loss of job or maybe a cut in pay YOU OWE IT, and it most likely will be a settlement case. Creditors will work with you remember they aren't there for a free ride. 2.The people who are not up front with names and or SS#'s meaning trying to falsify information. REALITY CHECK.. The file needs correction and it's going to take some time to remove the additonal information with all kinds of proof submitted. 3.Big dreams overnight. They come with very low credit scores such as a 475 with the intent to purchase a Mercedes, who in the world does that you might ask.. I have had them. People need to pull their credit and come with real expectations 4. I get the Flip Floppers I call them, these are the ones that sound like they really want it done but disappear for a month with no communication and want a miracle when they return. 5. I want the house in two months but I have a debt to income of 95% and most are new credit card balances. Unless you have money to either pay off some of the debt with paid deletion letters and bringing the others up to date and make your payments current for at least 6 month you need to be slapped into REALITY, NOW SOME PEOPLE MIGHT HAVE ENOUGH MONEY TO PAY THEM ALL OFF AND IT SO YOU ON AND AS THEY SAY POPPING. 30 days for credit repair is a joke and if someone is telling you that beware they are doing something undercover and you do not want to be a part of it. You may not have good results if you have run your credit cards up or a car that has been repoed within 12 to 24 months. This is new debt, most of the time the creditor still has your file and can and will provide all documents so the chances of something being wrong is little to none. Now if it goes to a collection company that's all together different and a fight can win you the results you want but its going to take time. If you can repair your credit yourself it would save you money, people that I have spoken to will try, some are successful some are not, but the ones I talked to it took them at least a year, it was not overnight. Most that do it themselves will sometimes hit a block wall and need the help of a company at some point. Items to think about when challenging your report. 1. How old the derogatory is. 2. Where was the derogatory made 3. Does the creditor still have the debt 4. Was the debt sold 5. Statue of limitation in your state or the state where the debt was made 6. Have you spoke to the creditor or collection company 7. Can they prove the debt is yours 8. Can they provide all information payments etc regarding the debt 9. If a collection company can they legally collect in your state 10. Make sure the names, addresses and SS# are correct on your file 11. Should you pay off debt and or settle
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November 24th, 201911/24/2019  Once again making it to easy for people to purchase something they can't afford is once again setting you for for failure. What I am seeing is this because I'm on the ground fighting to help people with credit is the high price of autos.
Let us not forget the 2008 housing crash, easy money sent us down the tubes by banks offering easy lending and thousands took advantage of it. I still have client that are still dealing with the repercussions today between bankruptcy's because of it and auto repossessions. The cost of a new auto has increased so much that lenders are extending payments out to 8 and some to 10 years. This might very well be the new CRASH. Auto dealers are pushing sales anyway they can get them and people are falling for it to drive the car they always dreamed of but not thinking of the consequences. Most people only drive a car for 3-4 years and most of the time the car starts giving you problem by that time so, you trade it in and will upside down, oh but they don't tell you that. By the time you you pay interest on your car you have paid for it most likely 2 times over, just think about a interest paid for 6 years or more. STOP and think about what your doing before you sign on the dotted line, how bad do you want it. Read the information below, let's be smart and learn.
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