by Millicent Harwell
Totally Free, Inc.
In my counseling experience, that now consists of thousands of people over the past eight years, I have been amazed at the number of individuals who, in the past 12 months, have not looked at their credit report. Some don’t know what a credit bureau is. Some have an idea, however cannot name the three credit bureaus. Then, there are a scattered few who have become familiar with the credit bureaus and their own credit reports.
Mortgage Lender Bruce Garrett speaks to over 30 prospective buyers on how to work with a lender during a Totally Free, Inc. Homebuyer Education Workshop on Saturday, November 14th. The workshops are held every second Saturday of the month from 9am – 5pm at Whispering Oaks Apartments on Tillman Street in Brunswick. (photos by Eliot VanOtteren)Our nation’s creditors tend to report consumer behavior to three main bureaus, Equifax, Transunion and Experian. Credit reports can be accessed from a number of venues including www.annualcreditreport.com or by calling 877-322-8228. Both provide a way to recieve all three bureau reports once a year for free. Why not order yours today?
“By a show of hands, who’s ready to own a home?” asks Totally Free, Inc. President Millicent Harwell at Saturday’s workshop. Harwell encourages workshop attendees to plan accurately and take control of their finances. (photos by Eliot VanOtteren)One urgent reason to become familiar with your credit reports is because identity theft is one of the fastest growing crimes in our nation. I have found that at least one person in each of my workshops has been a victim of identity theft or has known someone who was victimized. There are many stories, too numerous to mention. Beside identity theft; mistaken identities, incorrect account balances, incorrect personal information, accounts not owned by you and other errors commonly surface on credit reports. These must be disputed utilizing forms enclosed with the credit reports, on the internet or by a letter detailing the dispute (with supporting information). The invest-igation must be completed by the bureau(s) with findings submitted in return in 30 days.
I often wonder what people would say if they saw one another with their credit reports posted on their foreheads. A credit report is a reflection of an individual’s financial character. For those who do not see their character reflected in their credit report, goals should be set to raise their score to one they would proudly wear.
If your credit is not at its best, now is a great time to start putting things back together. Make a plan for financial fitness, and pursue a clean financial slate. It may not happen overnight, but every step will bring you closer to your goal.
Here is what you will see when you order your own credit report: personal information, bankruptcies/liens/collections/judgments, payment history and inquiries affecting, and not affecting, your score. Make sure your personal information is correct. Don’t be too hard on yourself if you have a collection account. Medical debt is said to be the number one cause of bankruptcy in our nation. That is largely attributed to the high cost of medical care with limited insurance coverage. For households that are living from check-to-check, collection accounts become unavoidable.
Payment history shows how consistent one is with repayment of varying forms of credit. If there are open lines of credit, they should be paid in a timely manner. If balances are being carried from month to month, the goal should be to eliminate excess debt. Inquiries not affecting your score can be limited by opting out of pre-screened, unsolicited offers of credit and insurance (call 888-5-OPTOUT). Inquiries you approve by allowing a lender to pull your credit will decrease your credit score, depending on the type and frequency of the inquiry. Ordering a credit report on your own will not affect your credit score.
Be a person whose character is reflected in credit. Cherish your good name, or get on the path to repair it, setting goals for a clean credit report today.
Millicent Harwell is the President and Founder of Totally Free, Inc., a non-profit organization geared to bring financial freedom to those ensnared by the bondage of debt. Offering foreclosure prevention services, and homebuyer programs to encourage real estate investment. The State of Georgia Department of Community Affairs awarded Millicent Harwell the 2005 Outstanding Homeownership Achievement Award for Excellence in Housing Counseling.
For additional information, please stop by our office at 2517 Norwich St. in Brunswick or call 912-265-1515.
www.totallyfreeinc.com
I often wonder what people would say if they saw one another with their credit reports posted on their foreheads. A credit report is a reflection of an individual’s financial character. For those who do not see their character reflected in their credit report, goals should be set to raise their score to one they would proudly wear.
If your credit is not at its best, now is a great time to start putting things back together. Make a plan for financial fitness, and pursue a clean financial slate. It may not happen overnight, but every step will bring you closer to your goal.
Here is what you will see when you order your own credit report: personal information, bankruptcies/liens/collections/judgments, payment history and inquiries affecting, and not affecting, your score. Make sure your personal information is correct. Don’t be too hard on yourself if you have a collection account. Medical debt is said to be the number one cause of bankruptcy in our nation. That is largely attributed to the high cost of medical care with limited insurance coverage. For households that are living from check-to-check, collection accounts become unavoidable.
Payment history shows how consistent one is with repayment of varying forms of credit. If there are open lines of credit, they should be paid in a timely manner. If balances are being carried from month to month, the goal should be to eliminate excess debt. Inquiries not affecting your score can be limited by opting out of pre-screened, unsolicited offers of credit and insurance (call 888-5-OPTOUT). Inquiries you approve by allowing a lender to pull your credit will decrease your credit score, depending on the type and frequency of the inquiry. Ordering a credit report on your own will not affect your credit score.
Be a person whose character is reflected in credit. Cherish your good name, or get on the path to repair it, setting goals for a clean credit report today.
Millicent Harwell is the President and Founder of Totally Free, Inc., a non-profit organization geared to bring financial freedom to those ensnared by the bondage of debt. Offering foreclosure prevention services, and homebuyer programs to encourage real estate investment. The State of Georgia Department of Community Affairs awarded Millicent Harwell the 2005 Outstanding Homeownership Achievement Award for Excellence in Housing Counseling.
For additional information, please stop by our office at 2517 Norwich St. in Brunswick or call 912-265-1515.
www.totallyfreeinc.com
No comments:
Post a Comment