women wealth guide
Tips on Managing Your Credit BY MALIK DAVIS
T
he long-term economic effect of the COVID-19 pandemic has wreaked havoc on many consumers as well as financial institutions who are in the business of lending money. Today, many consumers are facing unemployment, mounting debt and bankruptcies among other financial hardships. Banks and financial lending institutions are now also facing more challenges when it comes to assessing the credit quality of borrowers. In other words, they are tightening up on their lending criteria due to the quality of credit, inflation and reduced tolerance. In a recent Federal reserve survey, the borrower’s ability to pay back debt has deteriorated and the value of collateral is decreasing along with the credit quality of loan portfolios, causing financial institutions to tighten their credit standards. Navigating this uncertain financial world can be a huge stress, so we had a talk with The Credit Guru, Malik Davis. For over 29 years, Malik has been in the business of restoring credit and comes with a team of experts who help his clients expand their financial portfolios. This self-taught businessman quickly realized credit (not cash) was king in the business world and that it was the key to get him to where he needed to be. Malik took control of his financial destiny by starting with a few simple steps, opening a new world of financial opportunities and a better quality of life for him and his family. Now, he shares what he has learned to show others the road to financial freedom and how to navigate this uncertain climate and break the chains of financial stress.
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hopeforwomenmag.com
WINTER 2022
