Credit Consulting @ Office Plus “Does Your Credit Reflect You? Image Matters! " G.Y.Wyatt- CopyRight 2003 - 732 683 9200 1 “Credit Consulting - Clean Sweep

Credit Consulting @ Office Plus “Does Your Credit Reflect You? Image Matters! " G.Y.Wyatt-CopyRight 2003 - 732 683 9200

1

“Credit Consulting - Clean Sweep Series”Dose Your Credit Reflect You? – Image Matters!

Seminar 1

Credit Repair & Re-establishing Your Good Credit Profile

Seminar 2

What is Debt?Credit & DebtEvaluating Your Spending HabitsIs My Personal Debt Out of Control?Goal SettingPrioritizing and Organizing

Seminar 3

Keeping Track of Your MoneyCreating Your Personal Spending PlanPersonalized Debt Elimination PlanDo I Need a Debt Consolidation Loan?Negotiating with CreditorsBankruptcy: When is it Right?

Seminar 4

Smart BankingHome FinancingInvesting: Making Your Money Work for YouEssential Tools and Resources

““Does Your Credit Reflect You?Does Your Credit Reflect You?

Image Matters“Image Matters“©©(Help yourself to rebuild a better credit record)(Help yourself to rebuild a better credit record)

G.Y.Wyatt3 Industrial Ct, Suite 6 Freehold NJ 07728

732 683-9200WyattGroup.org


3

““Does Your Credit Reflect You?Does Your Credit Reflect You? Image Matters”Image Matters”©©

(Help yourself to rebuild a better credit record)(Help yourself to rebuild a better credit record)

• What is a credit score?• What are credit ratings?• Your credit scores?• Credit score provider• What factors influence my credit score?• How does my credit score affect me?• What is a "good" credit score?• How do I improve my credit score?

Credit Consulting - Credit Repair & Re-establishing Your Good Credit Profile Credit Counseling vs. Debt Repayment

Get and review your credit report.Get and review your credit report.Analyze your report.Analyze your report.Credit: When is it Right?

Credit Consulting Series Seminar 1 : Check My Credit :


4

Your credit scores -a scarlet letter or golden halo - that follows you around from the day

These scores affect an overwhelming number of today's lending decisions..

•What is a credit score?

•What are credit ratings?

•Your credit scores?


5

Equifax Equifax Credit Information Services, Inc

P.O. Box 740241, Atlanta, GA 30374

To order report: 1-800-685-1111

To report fraud: 1-800-525-6285

Web site: www.equifax.com

Experian (formerly TRW)

National Consumer Assistance Center

PO Box 2002 , Allen, TX 75013

To order report: 1-888-397-3742

To report fraud: 1-888-397-3742

Web site: www.experian.com

Trans Union Trans Union

P.O. Box 2000, Chester, PA 19022

To order report: 1-800-916 8800

•What is a credit score?•What are credit ratings?•Your credit scores?

•Credit Score Provider


6

Amounts Owed

•Amount owing on accounts

•Amount owing on specific types of accounts

•Lack of a specific type of balance, in some cases

•Number of accounts with balances

•Proportion of credit lines used (proportion of balances to total credit limits on certain types of revolving accounts)

•Proportion of installment loan amounts still owing (proportion of balance to original loan amount on certain types of installment loans)

•What is a credit score?•What are credit ratings?•Your credit scores?•Credit score provider

•What factors influence my credit score?


7

•Credit Scoring: Experian: The FICO scoring scale is about 400 to 900

Experian: The “ Experian / Fair, Isaac score ranges from the high 300s to mid-800s

Equifax” Scoring range from 350 to 950

•Credit Rating: 750+ Excellent A++

680 – 750 Very Good A+

620 – 680 Good A

580 – 680 Above Satisfactory B

550 – 580 Satisfactory B-

480 – 550 Below Satisfactory

What is a credit score?•What are credit ratings?•Your credit scores?•Credit score provider•What factors influence my credit score?•How does my credit score affect me?

•What is a "good" credit score?


8

Bottom line - “Does Your Credit Reflect You?“Does Your Credit Reflect You? -Image -Image

MattersMatters““©© -With patience and discipline, you can rebuild your credit sooner than you may think

There are no quick-fix solutions when it comes to your credit history. You can't sweep late payments away or toss out charge-offs.

•Be Punctual -- If you have missed payments, get current and stay current.

•-Pay all of your bills on time. Lateness, collections, and bankruptcies have the greatest negative impact on your credit score. Delinquent payments and collections can have a major negative impact on your score. ·

•Watch your debt. -Keep your account balances below 55% of your available credit. For instance, if you have a credit card with a $1,000 limit, you should try to keep the balance owed

below $550.

•Check your credit report regularly and take the necessary steps to dispute inaccuracies.- Don't let your credit health suffer due to inaccurate information.

Avoid "quick" credit fixes.

A good credit score is created over time and reflects a number of interrelated factors.


9

Does Your Credit Reflect You?Does Your Credit Reflect You? (Help yourself to rebuild a better credit record)(Help yourself to rebuild a better credit record)

Credit Repair & Re-establishing Your Good Credit Profile There are no quick-fix solutions when it comes to your credit history. You can't sweep late payments away or toss out charge-offs.

But with patience and discipline, you can rebuild your credit sooner than you may think. The first step is to get a copy of your credit report. One easy and inexpensive way to do this is by ordering a copy of your credit report online

• Get and review your credit report. Get and review your credit report. Clearly identify each item in your report that you dispute, explain why you dispute the informationClearly identify each item in your report that you dispute, explain why you dispute the information

• Analyze your report. Analyze your report. 1.1. Make a list of all items you disputeMake a list of all items you dispute

2.2. Write a dispute lettersWrite a dispute letters to bureaus and letter to creditors formally file a complaint that you are reporting

inaccurate credit information.

3. Credit Inquiries - Find out which inquires are getting in your way. (Prepare letters to each inquiring

creditor asking them to remove their inquiry – if - You must challenge whether the inquiring creditor

had proper authorization to pull your credit file.

4.4. Send the letter to the credit bureaus. Make sure you send it registered or certified mail.Send the letter to the credit bureaus. Make sure you send it registered or certified mail.

(Document your efforts. Record when you sent your letters, and the results. (Document your efforts. Record when you sent your letters, and the results. Wait for the bureaus to investigate

your claims. )

Documents

Credit Consulting @ Office Plus “Does Your Credit Reflect You? Image Matters! " G.Y.Wyatt- CopyRight 2003 - 732 683 9200 1 “Credit Consulting - Clean Sweep