Maximize Your “2015� Like Never Before! During this Seminar You will be equipped with Important Financial Success Tools Plus Other Information You Do Not Want to Miss about Credit & Finances
Coretta Meredith-Farrar Credit & Financial Consultant Farrar Credit & Financial Services, LLC
704-258-2970 Business Cell 704-258-2745 Personal Cell 704-537-6500 Office Phone farrarcreditservices@gmail.com E-mail
TABLE OF CONTENTS
FINANCIAL LITERACY TOUR 2015
Live within Your Means .............................................. 17
Farrar Welocme ............................................................. 4 Strategic Planning ......................................................... 5
Budget Guidelines ....................................................... 19 10 Steps for Staying on Budget ................................................................... 20
Consistency .................................................................... 6 Credit Profile ................................................................ 24 Personal Touch .............................................................. 7 7 Helpful Tips to Improve Credit Scores .............................................. 27 4 Immediate Steps to Financial Sucess ..................................................... 8 Contact Information ................................................... 29 Establish Goals ............................................................... 9 Take Stock .................................................................... 10 Create a Spending & Savings Plan ........................................................... 11 Reoccuring Expenses .................................................. 12 -Weekly Expenses ................................................... 13 -Monthly Expenses ................................................ 15
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Look Inside About The Company:
F
arrar Credit Services is helping others repair their credit history and have a fresh new start on life and their future. While it’s true that consumers can do this very same work themselves, most do not want to deal with the aggravation of talking to credit bureaus to correct mistakes, handle disputes or negotiate with creditors. This is where Farrar Credit Services comes in to provide mediation and counseling services. Our services go deeper that just credit restoration, but we take a holistic approach to help with budget planning, saving and provide stable financial security.
ABOUT CORETTA FARRAR Uliu condit. Simium temei ium, quam in rem vium publiqua coraedion tam ponum, nihiSa inam publius con nonfex nimusceri ciamquam non sesimus, ut vita, ut deoruro pulatum noruncl essente, consum musque mer publii sent. Xim pratortur, sende dum iam imis? Opio poraest rarbis diu stum is, quemenamed manum niae puliem, ato te nonernihici foribula videres re nihinum id comnem, egervigna, que ca; nitanum corum, num previdem pos, coenius oportia eciissit vitem fuit; Catudes Catuus ves cia sperfectam tuscibuni speceri dentic re verfecierit L. Faudeate ina, eterraessum, cotiliis et aucient eredeo, nostrae videortu iu ertum et L. Si for locrum morbitrur, consis facto vilicus At videm senihinum idelus coenatus culis derem diis intem quonsup erissimovera imus, quitudessit am. Bensum, querum adelatiqua noccii post probuntili conste, quem temus fatifes silis, Catum ina, consici enterem pari poendacii cae ni patiquam tanteatam quis factum atimunte, ussultua perum tum ela dit? P. Si cus remne metum oriculicaper peri se avenia pubis; et? Ebem, es? Itabemor imiu cont, quidem abulatis ex mus con di tea numulto confirm issentem. Grartem rehebem Romnos ceribus hor unum intideffres es fora virmaioruro consulictum, popteribunum descissum hui cre ad fatius, quam dit; intis, estorum, consum te essentuastis et int que nunterdit
WELCOME
FINANCIAL LITERACY TOUR
FINANCIAL LITERACY TOUR 2015
Welcome to the Coffee & Credit with Coretta Financial Literacy Tour! I am so excited that you have decided to come out and learn how to financially improve your life. Credit can be a touchy subject for many, however on this tour our goal is to help you understand your credit and finances better than you did before. This is the right time to change your life. A Message from Coretta.
If Not Now…When? It’s a new day! The seasons have transitioned from one to the next. Time waits for no one. It just does what it is meant to do, move on. It does not have emotions or feelings. It is not concerned with age, gender or religion. It does not think or process information. It just exist. However the things listed above are what we deal with on daily basis. We have to adhere to time and use it effectively. That is why I pose the question, “IF NOT NOW…WHEN? Every year there are a multitude of people who make the declaration I am going to fix my finances and at the end of the year nothing has changed, sometimes it may have even become worse. There appears to be a disconnection between what is thought and spoken and what actually transpires in our lives. The more the thoughts alludes our grasp we feel stuck in our situation. Even more agonizing is we witness others who were once where we are achieve the level of excellence that we long for. So how do we close the gap that separates our desires from our reality? There are two keys to reaching this goal that I believe will assist you in this endeavor, strategic planning and consistency.
S
trategic planning is vital to success. As the saying goes if you fail to plan then you plan to fail. One cannot expect to complete a journey without a map to guide you. A major part of the journey is setting goals. There should be three levels of goals established when you are planning. The first is having immediate goals. These are areas that need to happen right now! The next is Short term goals. The time table can consist of 3 months to a year. Last are long term goals. They are for the future, college for children and retirement. Each person may be at different stage in their lives but these goals will work if you work them. Also when wanting to change our financial situation, we have to be honest with our current position. The best way to finding that answer is by creating a budget/spending plan. This will provide the necessary information needed to gauge how much money we make and how much we spend. Now that you have a concrete idea of where your money is being spent, it is time to separate your needs from your wants. This becomes difficult because we want instant gratification and believe we are entitled to enjoy certain luxuries. However anything worth having is worth waiting for. There are some basic necessities that everyone needs like shelter, food, and transportation. We do not need to eat out every day or buy the latest designer clothing. Reevaluation and prioritizing should be your focus. Don’t be eaten up by the monster called consumerism. This beast tells you to buy, buy, buy and spend, spend, spend. Listen to the sweet angelic voice of responsibility that sings manage, manage, manage your finances. Get control of your emotions and change your spending habits.
STRATEGIC PLANNING
THE KEY TO SUCCESS
FINANCIAL LITERACY TOUR 2015
Consistency
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ext we need implement what you have learned. This is where consistency comes into action. Consistent means always actin or behave in the same way. This means that you do not change your goals or spending plan. You must remain diligent to the end. In other words finish the race. Being inconsistent has destroyed many individuals’ hopes and dreams. Adversity will come whenever you are pursuing better. Financial emergencies will present themselves. Your vehicle will
breakdown, you will become ill and may have to go into the hospital or your child will have some unforeseen expense. But I encourage you, do not deviate from your plan. Staying focused and disciplined is the key. This is the bridge that connects to your financial freedom. Your goals have to outweigh your impulse to spend unnecessary money on items that do not have any real value.
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We took control of our financial situation. When we starting working again, we looked at all our debt, came up with a budget, and one by one we started paying our bills off. ~ Coretta Farrar
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Personal Touch
I
would like to share a personal story with you about how these principles have helped change my life. Years ago my husband and I moved to Charlotte, NC. It was a huge adjustment moving from a small town to a metropolitan area. The difference in the cost of living was a shock to us and things got worse when my husband was laid off from his job. Without notice the bills started piling up and our credit took a turn for the worse. We lost nearly everything. Just like anyone who has ever experienced a financial crumble, we felt hopeless! We did not know where to go for help but we decided to help ourselves. We took control of our financial situation. When we starting working again we looked at all our debt, came up with a budget, and one by one we started paying our bills off. We kept our goal in front of us and nothing was going to keep us from reaching it. We faced several challenges along the way but we stayed the course. Needless to say we are doing very well now, so well that we have our own company helping others reach their financial independence.
4 IMMEDIATE STEPS TO FINANCIAL SUCCESS
F
inancial success means being in control of you money. Your income doesn’t determine how financially successful you are, your choices and priorities do. By understanding what you want to achieve financially, establishing a realistic spending and savings plan and considering your future, you can establish personal financial control.
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Theses ten steps will help you make educated choices based on clear priorities.
life long financial habits will take some work, but by following these steps, “ Changing you can make the adjustments you need to make your money work for you.
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FINANCIAL LITERACY TOUR 2015
Most of us have goals and dreams that we’d like to achieve. A very important first step in reaching these goals is identifying them – and what steps need to be made in order to achieve them. Once you know what you want to achieve, it’s important to make sure it’s specific, measurable, and realistic. Determine the amount of money you need and the timeline for saving the money. These are three types of goals; short-range, mid-range, and long-range. Short-range goals are to be met in one year or less, mid-range goals in two to five years and long-range in five years or more. Make your progress toward your goals something you can track over time by setting aside a predetermined amount of money toward them each month or pay period. It is important to remember that while it takes work to reach financial goals, the goals must be within reason in order to achieve them. For example, setting a goal to retire age 35 when you are 33 and have yet to save anything is likely not as achievable as setting that retirement goal further down the road.
ITEM Ex: Down payment for a house
Target Date
36 months
Total Needed
$20,000
Current Savings
$5,000
Additional Savings Needed
$15,000
Short-Range Goals Mid-Range Goals
Long-Range Goals
TOTAL
Pay Periods Until Target Date
$208.50
Savings Needed Per Month
$417.00
ESTABLISH GOALS
Step 1:
Chart A The following chart is designed to help you determine the timeline for your goals and the amount of money you’ll need to set aside to reach them. It is not uncommon for couples to work together to achieve financial success. By communication with each other and determining what’s most important, it’s much easier to reach your goals. You may find the numbers daunting or even not realistic based on your current financial situation. To resolve this, you’ll need to increase your income, decrease your expenses or make some choices about your goals.
TAKE STOCK Step 2: In order to evaluate your progress as you work toward your goals, you must determine what you overall financial picture looks like today. Your net worth is simply the difference between what you own and what you owe. To make sure you are staying on track, it’s a good idea to calculate your assets and liabilities annually. If you conscientiously follow your plan you should see a gradual, steady increase in your net worth.
WHAT YOU OWE
WHAT YOU OWE
Checking/Saving Accounts
Mortgage
Investment Accounts
Credit Cards
Stocks & Bonds
Credit Cards
IRA/401(K)
Auto Loan(s)
Home/Real Estate
Other Loan(s)
Automobile(s)
Other Loan(s)
Other Assets
Other Debt(s)
TOTAL OWNED (A)
TOTAL OWED (B)
To figure your net worth, subtract the total owed from the total owned. Total owned
(A) ________ - Total owed
(B) ________ = _________ (Net Worth)
MONTHLY INCOME Source
Gross JOB
PART-TIME JOB RENTAL/ROOM & BOARD RECEIVED COMMISSIONS/ BONUSES TAX REFUNDS INVESTMENT INCOME GOVERNMENT BENEFITS UNEMPLOYMENT INSURANCE CHILD SUPPORT/ ALIMONY SUPPORT FROM FAMILY/FRIENDS OTHER TOTAL
N
Income
The first step in examining your spending plan is to look at your income. How does your gross and net income compare? Are your tax withholdings appropriate for you? If you get a large tax refund or owe taxes each year, you may want to make some withholding adjustments. Use the form below to write down how much you make. Be realistic when it comes to any non-guaranteed income such as overtime and bonuses. Also, if your income fluctuates, use a conservative figure to make sure you don’t overestimate.
Monthly Income
Enter your gross (pretax) and net (post tax) income from all sources. For income received infrequently (such as bonuses or tax returns) calculate the annual incomeand then divide by twelve to find the monthly amount.
ow that you know what you want to achieve financially and what your net worth is, it is time to take a closer look at the reality of your day-to-day financial situation. It is imperative to create a realistic strategy for where you are right now.
CREATE A SPENDING & SAVINGS PLAN
SPOUSE’S JOB
Net
Step 3:
Financial Literacy Tour 2015
REOCCURRING EXPENSES
I
t can be challenging to analyze your expenses. Just hearing the word “budget” is enough to turn most people off. However, if you think it is establishing a plan for spending and a tool for reaching your financial goals, it becomes a much more pleasant concept.
Be aware of “budget busters.” These vary from person to person, but often include impulse purchases, splurging on gifts or vacations, and the mysterious way the $40 you took out of the ATM yesterday is suddenly gone.
Budget Overview: Income______________ Expenses_______________ Balance (+/-) _______________
Take Notes
Use the following forms to write down what you estimate your weekly and monthly expenses to be. Then, track your actual expenses to see how accurate those numbers are. Use a notebook to write down what you spend day-to-day. Or save receipts to get accurate figures. You may need to do this for several weeks or months to get a realistic picture of your spending. If the numbers do not reconcile, you will need to consider altering your budget plan or changing your spending.
MON
TUE
WED
THUR FRI
WEEKLY EXPENSES
Groceries Restaurant/Take-out Laundry/dry cleaning Medical/dental Auto/gas/parking Other transportation Babysitting Personal Care Clothing Bank fees/postage Entertainment Books/music/video Cigarettes/alcohol Gifts/cards Home/garden Contributions Other Other Other
WEEKLY TOTALS
SAT
SUN
Weekly Expenses
Weekly Budget
Over/Under
Savings One component to the monthly spending plan that is frequently neglected is savings. Even with the best savings intentions, there always seems to be a reason to put off getting started until next month. Saving, however, is the most important part of your spending plan. The only way to reach your financial goals is to start setting aside the money now. Before allocating money for your goals, make sure you set up an emergency savings account. Financial emergencies are a fact of life and can drain your dream fund if you’re not prepared. If you do experience hard times,having two to six months basic living expenses set aside in a liquid account will assist you to bounce back. Set a target date for having this safety net in place and factor the monthly amount needed to get there into your spending plan. Once you have the emergency savings in place, you can factor in the amount you want to save toward the goals you determine in Step One.
Debt Debt repayment is frequently the biggest challenge we have when it comes to reaching our financial goals. After all, how do you save money for your dream vacation or new house when you have credit card bills, possibly with very high interest, to pay? Use the form below to list your creditors and add you balance. By knowing what you owe, you’ll be better prepared to commit the funds necessary to tackle that obstacle.
Unsecured Debt List all debts (except auto loans and mortgages) along with the name of the creditor, interest rate, total balance owing and the required minimum payment. This includes credit and charge cards, installment loans, personal loans and outstanding medical bills.
MONTHLY EXPENSES
MON
TUE
WED
THUR FRI
Groceries Restaurant/Take-out Laundry/dry cleaning Medical/dental Auto/gas/parking Other transportation Babysitting Personal Care Clothing Bank fees/postage Entertainment Books/music/video Cigarettes/alcohol Gifts/cards Home/garden Contributions Other Other Other
MONTHLY TOTALS
SAT
SUN
Weekly Expenses
Weekly Budget
Over/Under
Add Your Expenses
Add your expenses, the amount you need to save to reach you goals, and the repayments to your creditors. Subtract the total from your income. If the numbers balance, congratulations – you’re in the right track. If not, you will need to take action, which could mean increasing income, decreasing expenses, adjusting your goals, or a combination of these activities.
Bottom Line
Creditor Name
Interest Rate
Monthly Payment
Balance
1. 2. 3. 4. 5.
Once you have determined the total of your take-home pay and expenses, you are ready to figure out your bottom line. Subtract the total of all expenses including debt payments from your net income. If the result is a positive number, you can add the extra money to your savings to reach your goals sooner. If your expenses exceed your income you’ll need to make some adjustments to bring you finances back into balance. Monthly Net Income
6. 7. 8. 9. 10. Total Essential Expenses Total
Discretionary Expenses Total Debt Payment
Balance
LIVE WITHIN YOUR MEANS Step 4:
The concept of living within your means may seem like simple common sense.
All you need to do is not spend more than you make right? For many of us, though, the reality is much more challenging than this basic concept.
If your expenses exceed you income, you spend more each month than you pay off... Or you’re not saving toward your goals. In fact you are living beyond your means – and cheating yourself out of making the most of your money. Don’t let this get you down, though. There are ways to take action and gain control of your finances.
You may have a few options for increasing your income. NOTES
Working overtime, getting a part-time job, a better paying job, or applying for a promotion are great ways to bring in more money. Selling assets can bring in lump sum of moneyis another avenue for eliminating debt. If you decide to liquidate assets, be sure to find out if you will have any tax consequences or penalties for doing so.
Most of us have some expenses we can reduce or eliminate.
Fixed living expenses are generally more difficult to adjust than discretionary expenses. However, if you are truly committed to your goals, a little creativity can go a long way. When it comes to you discretionary expenses, consider them carefully. Is there anything you currently spend money on that you can reduce, subtract, postpone, or forego?
TAKE NOTES
Savings Save at least 10% of income throughout your working life. Make sure you have 3-6 months’ income in an emergency fund before you start saving for other goals.
Transportation Spend no more that 15% of net income on transportation. That includes; car payment, auto insurance, tag or license, maintenance, gasoline, and parking.
Debt Spend no more that 15% of net income on all other consumer debt: student loans, retail installment contracts, credit cards, personal loans, tax debts, and medical bills.
Other Spend no more than 25% of net income on all other expenses: food, clothing, entertainment, childcare, medical expenses, tithing/charity, and vacations.
FINANCIAL LITERACY
Spend no more than 35% of net income on housing. Depending on whether you rent or own, that can include, mortgage/rent, utilities, insurance, taxes, and home maintenance.
BUDGET GUIDELINES
Housing
10 STEPS FOR STAYING ON BUDGET
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FINANCIAL LITERACY TOUR 2015
Yeah yeah, we all know setting up a budget is important, but something often overlooked is how important it is to motivate yourself to stay on track and actually follow through with the budget.
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I
have created myself many budgets over the years, often only to be let down by splurging on one of the expenses I promised not to (e.g. taking my lunch but still going out with work people and eating, effectively spending twice as much on lunch!). Today we are looking at some of the useful tips you can remember to help you stay on budget. In fact, we have 10 of them and this article is part of a month long campaign on budgeting to celebrate the release of our budget spreadsheet – so we hope you enjoy!
1. Treat your savings account as a bill. Once your budget is created, ensure that one of your expenses listed is paying your savings account. As we have said before, treat it like a bill that must be paid and don’t even think about it. Act like you will get a fine if you don’t deposit! After doing this for many months, I am excited about checking in and seeing how much I have saved. The interest will be there and I am hoping for a nice little surprise!
2. Try and use cash over cards. If you live off cash during your budget period, it is much harder to hand over pure cash for a splurge purchase as you won’t have any more money for the time! For example, you see a handbag or belt you like, sure it is only $40 and you tell yourself you deserve it. BUT it will severely limit your cash on hand. Wouldn’t you rather a train ticket to work for the week? Plus, cards can be expensive if you don’t use your own banks ATM.
3. Get rid of the bad habits, quickly! You don’t need a glass of wine EVERY night, you don’t need to smoke (easier said than done I know!) and you should really consider what dropping these bad habits could do for your budget. Maybe it would let you buy that belt above? I strongly suggest considering dropping these habits, both for your health and your finances.
4. Get the family involved, it will help motivation. Having a support network is vitally important to keeping your budget alive. Share your thoughts, concerns and ideas on budgeting with your family and you will be much more likely to succeed in staying on budget.
5. Pay your debt down when you can. If you have multiple cards, firstly try and consolidate into one low interest credit card. If this isn’t possible, focus on the cards with the highest interest and pay more than the minimum amount each month to that card. If you can’t do this for all cards, pay the lions share of your money to the high interest card and the minimum allowed on all others.
6. Remember to keep your receipts handy When you first created your budget spreadsheet, you would ideally have kept records of your spending prior to arrive at your expected expenses tab. A good tip is to not stop doing this after the budget is made, your spending is ever changing and in turn your money budget should also be ever changing.
7. Check your accounts regularly You should login to your internet banking daily and monitor what is going in and out. You would be surprised how much fraud and accidental purchases go on under the radar. It is up to you to notify your bank or speak up when you find an issue.
8. Check your spending at the end of each week Do you think you will make it to the end of the month? Taking a second to double check everything you have spent on is the best way to not be caught short a week or so before the end of the month. Check for trends with your spending, look for items you can cut the following week to help keep that money active (active in the sense it can be use for more important things than your ham/cheese/tomato on Turkish you order for breakfast!).
9. Is your savings getting pillaged frequently? Are you withdrawing money your promise to save? Get a Raboplus account, it is VERY hard to withdraw the savings without having to wait a few days and enter a million security codes! The moral is, get a different account and ensure you can’t just easily transfer money from it on a split second.
10. Remember, sometimes costs can pop up out of nowhere. In your budget, you should have a rainy day fund or emergency fund. Things simply pop Out of nowhere that involve spending money and it will help you prepare for these!
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It is up to you to initiate your success. The best time to get started is NOW! Do not go another day living in a state of complacency. You can do it. All you have to do is believe in yourself. Here are some helpful tips to help you improve your credit score right now.
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The Date my Life Changed __________
CREDIT SCORES
CREDIT PROFILE
Experian ________________
Equifax ______________
Do you have any current garnishments from your payroll?
TransUnion ______________
____ YES
____ NO
If yes, Name__________ Balance _______ How Long _______ How much a month ____________ Are you enrolled in any debt management programs?
____ YES
____ NO
If yes, Company __________________________________ How Long _____________________ ACCOUNTS
ORIGINAL BALANCE
REMAINING BALANCE
___________ ___________ ___________
___________________ ___________________ ___________________
_____________________ _____________________ _____________________
Do you have any settlement offeres on any collection, judgement and/or charge off accounts? ____YES ____ NO NAME DEBT OFFER ________________ ______________ ____________ ________________ ______________ ____________ ________________ ______________ ____________ ACTIVE TRADELINE(S) ACCOUNT TYPE __________________ __________________ __________________ __________________
__ Mortgage __ Revolving __ Installment __ Mortgage __ Revolving __ Installment __ Mortgage __ Revolving __ Installment __ Mortgage __ Revolving __ Installment
ACTIVE TRADELINE(S) WITH PAST DUE BALANCE ACCOUNT TYPE __________________ __________________ __________________
__ Mortgage __ Revolving __ Installment __ Mortgage __ Revolving __ Installment __ Mortgage __ Revolving __ Installment
REPORTING AGENCIES
__ Equifax __ TransUnion __ Experian __ Equifax __ TransUnion __ Experian __ Equifax __ TransUnion __ Experian __ Equifax __ TransUnion __ Experian
AMOUNT
____________________ ____________________ ____________________
Ratios on Revolving Account - Goal is to have balances 30% or less of Credit Limit Credit Limit ___________ ___________ ___________ ___________ ___________
Current Balance __________ __________ __________ __________ __________
Ratio % ______________ ______________ ______________ ______________ ______________
PUBLIC RECORDS | JUDGEMENTS | LIENS Account
__________________________________ __________________________________ __________________________________
Balance
______________ ______________ ______________
Reporting Agencies
___ Equifax ___ TransUnion ___ Experian ___ Equifax ___ TransUnion ___ Experian ___ Equifax ___ TransUnion ___ Experian
LATE PAYMENTS Creditor __________________________________ __________________________________ __________________________________ __________________________________ __________________________________
# of Late Payments n Last 12 Months ______________ ______________ ______________ ______________ ______________
Reporting Agencies ___ Equifax ___ TransUnion ___ Experian ___ Equifax ___ TransUnion ___ Experian ___ Equifax ___ TransUnion ___ Experian ___ Equifax ___ TransUnion ___ Experian ___ Equifax ___ TransUnion ___ Experian
OBSOLETE (OVER 7YRS. OLD) & ERRONEOUS TRADELINES Creditor
__________________________________ __________________________________ __________________________________ __________________________________ __________________________________ __________________________________
Date
______________ ______________ ______________ ______________ ______________ ______________
Reporting Agencies
___ Equifax ___ TransUnion ___ Experian ___ Equifax ___ TransUnion ___ Experian ___ Equifax ___ TransUnion ___ Experian ___ Equifax ___ TransUnion ___ Experian ___ Equifax ___ TransUnion ___ Experian ___ Equifax ___ TransUnion ___ Experian
CREDIT PROFILE
Creditor ___________________ ___________________ ___________________ ___________________ ___________________
PUBLIC RECORDS | JUDGEMENTS | LIENS Account
Balance
______________
___ Equifax ___ TransUnion ___ Experian
__________________________________
______________
___ Equifax ___ TransUnion ___ Experian
__________________________________
______________
___ Equifax ___ TransUnion ___ Experian
__________________________________
______________
___ Equifax ___ TransUnion ___ Experian
__________________________________
______________
___ Equifax ___ TransUnion ___ Experian
__________________________________
______________
___ Equifax ___ TransUnion ___ Experian
__________________________________
______________
___ Equifax ___ TransUnion ___ Experian
__________________________________
______________
___ Equifax ___ TransUnion ___ Experian
__________________________________
______________
___ Equifax ___ TransUnion ___ Experian
CREDIT PROFILE
__________________________________
Reporting Agencies
COLLECTIONS & CHARGE OFFS Creditor
Amount
DLA
__________
___ Equifax ___ TransUnion ___ Experian
_________________________________
___________
__________
___ Equifax ___ TransUnion ___ Experian
_________________________________
___________
__________
___ Equifax ___ TransUnion ___ Experian
_________________________________
___________
__________
___ Equifax ___ TransUnion ___ Experian
_________________________________
___________
__________
___ Equifax ___ TransUnion ___ Experian
_________________________________
___________
__________
___ Equifax ___ TransUnion ___ Experian
_________________________________
___________
__________
___ Equifax ___ TransUnion ___ Experian
_________________________________
___________
__________
___ Equifax ___ TransUnion ___ Experian
_________________________________
___________
__________
___ Equifax ___ TransUnion ___ Experian
_________________________________
___________
Reporting Agencies
7 Helpful Tips to Improve Credit Score 1 2 3
Order fresh new copies of your credit reports from all 3 bureaus: Equifax, Experian and Transunion. Credit reports are constantly changing. Therefore it is important to have up-to-date copies. Correct all inaccuracies on your Credit Reports. Go through your credit reports very carefully. Especially look for; Late payments, charge-offs, collections or other negative items that aren’t yours If you have any negative marks on your credit report, negotiate with the creditor/lender to remove it. If you are a long time customer and it’s something simple like a one-time late payment, a creditor will often wipe it away to keep you as a loyal customer.
4
Pay all credit cards and any revolving credit down to below 30% of the available credit line. This step alone can make a huge impact on your score. The credit scoring system wants to make sure you aren’t overextended, but at the same time, they want to see that you do indeed use your credit.
5 6 7
Do not close your old credit card accounts. Old established accounts show your history, and tell about your stability and paying habits. Avoid applying for new credit. Do not apply for any new credit! Each time you apply for new credit, your credit report gets reviewed which lowers your score. Have at least three revolving credit lines and one active (or paid) installment loan listed on your Credit Report. The scoring system wants to see that you maintain a variety of credit accounts. It also wants to see that you have 3 revolving credit lines.
Learn to Tackle Your Financial Problems. Learn to Immediately Improve Your Credit Score. How to Set Financial Goals that You Can Achieve. How to Prepare a Effective Budget. Maximize Your “2015” Like Never Before! During this Seminar You will be equipped with Important Financial Success Tools Plus Other Information You Do Not Want to Miss about Credit & Finances
TOUR DATES JUNE 6, 2015 - CHARLOTTE, NC JULY 18, 2015 - ATLANTA & BIRMINGHAM AUGUST 8, 2015 - VIRGINIA SEPTEMBER 12, 2015 - KNOXVILLE, TENNESSEE OCTOBER 17, 2015 - CHARLSTON, SOUTH CAROLINA OCTOBER 24, 2015 - CHARLSTON, WEST VIRGINA
CONTACT INFORMATION
704-258-2970 Business Cell 704-258-2745 Personal Cell 704-537-6500 Office Phone farrarcreditservices@gmail.com E-mail
FARRARCREDITSERVICES.COM