A Healthy and Successful Money Mindset | Wealth Mentality

Posted on October 19, 2011 by Liam Carolan

The Wealth Mentality

Repairing your credit is what we call “fixing” the outer game” – in other words, your credit can be fixed and improve regardless of your situation but how do you keep it that way?

Here’s a a fact. You have to do the work, (or have someone else do it) it’s easy to do, requires persistence and eventually a new dawn will appear for you. You will wake up one day with a higher score and all will be well again.

That’s the “Outer Game” for restoring your credit. It’s learned and then you implement a strategy.

Moving Toward Wealth Mentality

But what about the Inner Game? You can tell yourself, “I don’t ever want to be back there again… that sucked!” and you can do it over and over again… but what’s really going on in your own head?

Consider adopting a “Wealth Mentality” into your life. Many already know what this is but a refresh and re-boot of your money mindset won’t hurt. In fact, it’s the only way I know of that you can guarantee you won’t be back in credit-restoration-city.

Wealth Mentality Explained

There are three phases you must move through and understand before you get to the Wealth Mentality.

They’re pretty easy to grasp if you’re like most people… and here they are.

1. Think back to your first job, you gave your time to “Earn Money” right? = the earn mentality.
2. Next, in your late teens you used your time to to focus on “Make Money” the make mentality. “Make” mode can last for ten or fifteen years.

3. Then at some point you either will know or you may be realizing that money
has zero intrinsic value – think about it, there is no gold in Fort Knox.

Currency, at least as we understand it is not backed by gold or some
pie in the sky asset waiting to rescue its value.

No – it’s not there any more. It has been named Fiat Currency.

So what’s left? Assets!

People are your greatest asset followed by the tangible property you own.

Acquire more of these assets and you are building wealth. You have to change the way you think about money. You have to develop your Wealth Mentality.

Ask yourself, have you developed some bad habits when it comes to money and credit?

We did a survey across 100 user/subscribers and 39% of them said “Yes” when they thought about where they were and where they thought they used to be.

It was clear to them that they got “comfortable” and you know what? being comfortable is the kiss of death.

I’ll cover the Wealth Mentality more in the coming months. I’ll prove to you that today, right now – there is more opportunity to succeed then ever before. The life you want for yourself, your family is well within reach if you develop your mindset and focus!

Posted in Money Mindset | Leave a comment

Credit Repair: Full Service or ‘Do-It-Yourself’ Credit Repair

Posted on May 31, 2011 by nealmbrown

Credit Repair: Full Service or Do-It-Yourself?

In the past 5 years, hundreds of ‘internet-based’ credit repair services have sprung up, preying on consumers in need of real help.

For this week’s article I am going to compare an ‘internet based’ credit repair services to repairing your credit yourself using a Do-it-Yourself Credit Repair System.

Credit Repair: Cost Comparison

Full Service Credit Repair- Almost every credit repair company found on the Internet charges a set-up fee of at least $60 and an ongoing monthly fee of at least $49. In reality, your credit repair work ends up taking close to a year or more and now you’ve paid them between $600-$2,000 depending whether it’s just you or you and your spouse. However, it also depends of the services provided.

I’ve personally seen cases where someone’s debt needs to be addressed first, before the credit repair can begin. Therefore, this will obviously be more expense because more services are needed. However, the benefit is you can sit back and have the work done for you—you just write the checks.

Do-It Yourself Credit Repair – There are several ‘do-it-yourself’ credit repair systems found on the Internet.

Some of these products are good and some are bad–whichever one you choose, don’t use a ‘do-it-yourself’ system that uses ‘pre-made’ letters to launch disputes. Using these types of letters often raises major red flags at the credit bureau level and may result in your dispute request being denied.

These Do-it-Yourself Credit Repair services vary from $29.95 to 287.00.

Credit Repair: Do-it-yourself vs. Full Service

Credit Repair Service – To get your scores into the 800′s would take over 10 years of perfect credit, so don’t believe it. Also, any credit repair service that promotes pipe dreams of a new car and a new house is not to be trusted; unless of course they plan on loaning you the down payment.

However, I will promise that if you decide to use a reputable ‘do-it-yourself’ credit repair system, and are patient, your scores will increase significantly.

With improved credit scores, you can likely get any loan or credit card you desire, and at the best rates possible. If you still decide to work with an ‘internet based’ credit repair service, make sure you do your research, and don’t say I didn’t warn you.

If you would like some easy ways impact your credit score immediately, fill out the pop-up banner at the bottom of this page and we’ll give you instant access to our credit repair secrets.

Credit Repair – What You Should Know

Posted on May 5, 2011 by nealmbrown

If you are surfing the web looking for information about credit repair, you will find loads of free stuff that can help. For example, many companies offer free credit repair letters, some sell software programs that provide tools for credit repair and other perform full credit repair services.

Credit Repair Secrets you should know

One of the credit repair secrets is that credit reporting companies are in disguise and trying to sell you on the idea of buying your credit score for between $19.95-39.95. When you see companies like FREE CREDIT REPAIR.COM or CREDIT REPORT.COM, know these are just one of the three major credit reporting agencies (Equifax, Experian and Transunion) in hiding. These sites are making a fortune selling you the credit information you’re legally entitled to for free–back to you at a huge profit!

Once you obtain your credit score, you’ll also find valuable software programs that provide “fill in the blank” type letters you can send to the credit agencies to remove bad marks, or in school terms—the bad grades. You probably knew them as C’s, D’s and F’s.

Within these software programs, the system asks you questions in preparation of credit repair actions. For example, it suggests that if you have any “proof” that the information contained on your credit report is inaccurate, (statements, cancelled checks, the “proof” depends on the individual item) list it here and enclose a copy of this material with your credit repair letter.

Online credit repair services, as the name suggests, help customers improve their credit ratings by removing inaccurate, false or misleading information from their credit reports. This is the “pay a fee, sit back and let the professionals handle it” method.

If any information on your credit report is inaccurate, out-dated, unverifiable or misleading, you can dispute this information in a do-it-yourself model or hire a “full service credit repair organization” to do it for you.

Credit Repair—reporting inaccurate information

The next thing to learn about how to repair credit scores is how to report inaccurate information.

It is perfectly legal to attempt to repair your credit rating on your own by having false, out-dated or inaccurate information from your credit report. Most credit report repair services offer to assist individuals in getting certain information removed from the files maintained at the various credit bureaus.

For more information about credit repair software, for general information about credit repair and for links to relevant sites, please subscribe to our site and we’ll forward what you need.

Before you engage a credit repair service, obtain copies of your credit reports from the three major credit bureaus. Links to these sites are included in this article.

Credit repair-Do it yourself, software of full service

When it comes to credit repair, what method is best suited for you? I think a logical answer is to consider your financial situation.

On the low-end, you can purchase a software to prepare letters and other instructional services for anywhere from $29.97-$97.00.

Full Credit repair can cost upwards of $500-$1,400 for a couple and usually takes 8-12 months to complete. However, expect this to be a more complete and thorough job that will not only improve your credit score but can also provide services to erase debt. But you’ll pay for the service.

Fortunate, the payments are spread out over time and become more accommodating to your financial situation. Whether you purchase a software system or full service let me assure you of this; you don’t know what you don’t know in the credit repair game and what you don’t know is costing you dearly!

Posted in Fast Credit Repair, Self Credit Repair | Tagged credit repair, credit score, good credit score | 2 Comments

Fast Credit Repair

Posted on April 18, 2011 by nealmbrown

It takes no time what-so-ever to trash your credit score but restoring it via Credit Repair wont be as quick. However, it may not take as long as your think. In my case, just knowing the right moves to make, coupled with some great advice, allowed me to restore my credit score to a 774 (FICO Score) in less than two years after taking a company bankrupt.

So let’s do a quick review of the things NOT to do and how to recover.

Trashing your credit score–Credit Repair

Here are six things to avoid if you want to keep a good credit score and intent on steering clear of Credit Repair. It’s easy to make mistakes when it comes to your credit. Some mistakes are so detrimental; you’d never want to appear on your credit report. Since future creditors and lenders use your credit report to make decisions about you, there are some things you’d never want to show up on your report.

1. Charge-offs- Missing your payments for 6 months or more could cause your creditors to deem your account as uncollectible. When this happens, the creditor writes off the account and updates your credit report as “charged-off” or “written off and un-collectible.” Charged-off accounts remain on your credit report for seven years. After a charge off, Credit Repair is a must.

2. Debt collections-Not only will creditors charge-off your account after a period of non-payment, they may also hire a third-party debt collector to attempt to collect payment from you. Your credit report may or may not be updated to reflect a collection status. Sometimes the debt collector places an entry on your credit report or the original creditor places a note on your report indicating the account is in collection status. Not only can this get ugly but credit repair will becomes the best option.

3. Bankruptcy-Filing bankruptcy allows you to legally remove liability for some or all of your debts, depending on the type of bankruptcy you file. Your credit report will reflect each of the accounts you included in your bankruptcy. Even though the bankruptcy information will remain on your credit report for seven to 10 years, you can sometimes begin rebuilding your credit soon after your debts have been discharged. However, dont give up hope with bankruptcy because credit repair will fix this.

4. Foreclosure-If you default on your mortgage loan, your lender will repossess your home and auction it off to recover the amount of the mortgage. This process is known as foreclosure. When your home is foreclosed it can severely damage your credit, limiting your ability to obtain new credit in the future. A foreclosure will remain on your credit report for seven years.

5. Tax liens-When you don’t pay property taxes on your home or another piece of property, the government can seize the property and auction it off for the unpaid taxes. Even if your home is foreclosed because of a tax lien, you are still responsible for the mortgage loan. Non-payment of the mortgage will also hurt your credit. Unpaid tax liens remain on your credit report for 15 years, while paid tax liens remain for 10.

6. Lawsuits or judgments-Some creditors may take you to court and sue you for a debt, if other collections fail. If the lawsuit is accurate and a judgment is entered against you, it will remain on your credit report for 7 years from the date of filing, even after you satisfy the judgment.

Credit Repair-from Bankruptcy to a 774 Score in 18 months

I’m a huge believer in Credit Repair because of my own personal experience. I was forced to filed bankruptcy to put an automatic stay against a frivolous lawsuit issued again me and my company. While it’s a long story and I wont get into all the gory details, I took ourselves and our company bankrupt. However, with the right advisers and some attention to detail, we had our score back to 774 within 18-24 months.

Credit Repair Works

Credit repair really works but you need to know someone that knows how to play the game. Just like anything else, knowledge is the new money when it comes to life. The internet is fascinating because it opens the door to gaining the knowledge you need navigate these issues.

If you have the right advise, you weave through the barriers and have a good outcome. If you go it alone, you end up with a bad outcome. Knowledge is power in Credit repair.

Posted in Fast Credit Repair, Self Credit Repair | Tagged bankruptcy, credit repair, credit score, trashing your credit score | Leave a comment

Credit Repair Entourage predicts massive school loan defaults

Posted on April 13, 2011 by nealmbrown

Credit Repair Entourage is predicting the next massive debt crisis wont come from the housing industry. Nope. And it wont come from Congress not passing a spending bill. It’s actually going to be triggered by former students defaulting on their school loans.

Credit Repair wont help College Kids from Defaulting

It’s the next big government bubble, just like the housing bubble and no amount of credit repair is going to keep this from imploding.

Chances are you’ve seen it going on right in your own household. High-schools all across America are selling the dream of going to college, getting a good education so you can go out and get a good–high paying JOB. Well college grads, hows that working out for you?

As we look out across the landscape of America, things have changed dramatically since the beginning of the industrial age. Back in the 1950′s, going to school to get that magic sheep-skin was invaluable. However, as the industrial age has given way to the information age and schools are beginning to look like overpriced dinosaurs that teach the same old–same old. Like a broken record being played over and over again; go to school because its the only way to get a good, safe, high-paying job.

And just in time for the latest recession, prices of college have shown no sign of letting up anytime soon. Check this out; University of Florida at $23,744, Colorado State University at $22,240, University of Georgia at $25,740, Florida State University at $19,011 and University of Kentucky at $16,678. How does a family swallow the cost of a four year college education? Loans of coarse!

The Next Big Bubble in Credit Repair–College loan defaults

Now that the Federal Government has taken over the college loan programs in America, watch out. When the feds took over the housing industry, bureaucrats needed to loan money to expand the economy. The answer was to loan money to people that could afford a home. They call them NINJA loans (No Income, No Job and No Assets). Just give them the money because everyone should own a home, right? And we know best because we’re from the government and were here to help! You know the rest of that story.

Now the government is creating another bubble by loaning money to attend college–to anyone regardless of their financial status. It’s been rumered on several news programs of late that some 75-85 percent of those who attend Phoenix college are getting 100% of their funds from the federal college loan program. I hear the current administration talking about expanding the “community college” programs. What do you think that’s all about? Simply put, it’s a welfare program for anyone to attend college.

There seems to be only one small problem with pushing this “Attend College” agenda–you have to pay the money back to Uncle Sugar. Problem today is the students are racking up between $20,000-$80,000 in loans prior to graduation then can’t find a job coming out of school. The class of 2010 entered a labor market that has not only the highest rate of unemployment in a generation, but also an unusually high rate of joblessness for recent college graduates. Like a record high level.

Credit Repair Entourage reports an 8% rise in Debt levels to $24,300 in 2009

The Credit Repair Entourage found a New York Times report stating the average loan amounts rose to $24,300 per student. And that was 2009–imagine with the Federal Government pushing dollars out the door like mortgage guarantees from Fanny and Freddie Mac, expect this number to explode. But with Unemployment rates at historic highs for 18-24 years old and underemployment rates even worse, many will find it difficult to service the debt on these loans.

These massive defaults will be the trigger that causes the next big debt crisis in America and every bit as big as the housing melt-down of 2008. Simply look at the rate in which colleges are pumping out new students. According to the U.S. Department of Education, 1.5 million kids graduate with bachelors degrees and 700,000 with associates degrees . That’s 2.2 million workers per year crashing headlong into a estimated 18.9% underemployment rate in the U.S. More experienced workers who are under-employed versus inexperienced college grads. Who’s getting the job? I know who’d I hire and its the person with experience and the skills–not the college kid.

And remember, you call file bankruptcy in America but it wont erase your college loans. So be smart when borrowing money to attend college. It makes no sense to borrow $80,000 to become a social worker because the profession–while noble, does not pay. So remember that no amount of credit repair will wipe away the tarnish of defaulting on your school loans.

The Credit Repair Entourage

Posted in Money Mindset, Sample Credit Repair Letters | Tagged college student loans, credit repair, student loan defaults | 1 Comment

Credit Repair Entourage