Hi guys, it's Angela Simmons with Premier Homes by Angela. Today, I am here with Chavie, with United Credit Education Services. I wanted her to speak on credit repair. I'm going to let her tell you a little bit more about the company, what she does and also myths when it comes to credit because we want to get you into a home.
I'm here to assist Angela by way of sharing with you on who we are and what we do. We have been in our corporation for 15 years, not for profit organization, and what we look to do is assist you with where you are and elevating your goals with where you want to be. There was some decisions that are made in your credit, in your past that that doesn't have to affect your future. Now, we take your credit in the circumstances it's in, we look to the credit business bureaus and we go to all three. We're looking for negative marks, we're going to delete those negative marks as much as we can. During that process, it's a month-to-month process to assist you with rebuilding your credit. Ultimately, when you get higher credit, you also want to protect your credit, and you want to learn about saving. We also teach about your net worth and your debt payoff. Ultimately, we have many services to provide you with the goal that you have specifically in mind when you're looking to make a purchase of a home. We're there with you to give you empowerment through educating you and learning more about your credit score. Awesome.
Tell us what the main myths you see when it comes to a person's credit.
We look at credits from different perspectives, but the main one is called FICO. What myth is FICO? Who does the calculation of your credit score, is that because it's a computer, it's right. We're under the impression that whatever is on your credit is correct. That's a myth because 25% of the time at least, it is incorrect. It is very imperative for every year for you to take a look at your credit to know what's on there. Just because the computer says that it's so, does not mean that it's right. That's one of the services that we provide to make sure that your credit is right. You shouldn't have anything on there that isn't correct. Therefore, if it's deleted due to inaccuracies or erroneous marks, then it's going to eventually increase your credit score. That's one of the myths.
My other favorite myth is that in order for you to have good credit, is to have no credit, meaning that you are paying off your bill.
If you have a bill that is approximately $600, you spoke to somebody and they said that "Well, you could pay $400 a year," you're just so happy, you want to immediately pay off the $400, and you think your credit score is going to go up, right? Because it's zero dollars? Absolutely not. It's a myth. That's wrong, Your credit score is actually going to go down. The reason why is because the credit companies need to know how you manage your debt. Debt is a business. In order for them to understand how you are managing it, it has to be in a complete rotation. Instead of paying the $400, which is great that it was decreased, get it down to where you're at least paying 15 to $20 per month on that same debt and you have to continue to show that you're building your credit that way. If you pay it off, it means that there's no debt, and debt doesn't make any money. Debt makes the money. That's the myth. Don't pay it off, pay it down, keep paying it and then when it comes to zero, there should be something else that you have that you can start working on to pay down that way. There should always be some type of debt that is in rotation, that's going to build your credit. Awesome.
Thank you so much Chavie for sharing that information with us. It's really important because a lot of times we can be scared. We don't want to see our credit. We don't want to pull our credit, or have anyone else looking at it either. The goal is to get you into a home and that is what we're going to do. Trust us enough to be able to look at your credit, do the evaluation, and allow Chavie and her team to be able to do what they need to do to get your credit score up so that Premier Homes by Angela can get you into the home of your dreams.
If you have any questions, you want to get in contact with her to utilize her services, please contact me at 678-412-0373. The KEY to your real estate experience.
Premier Homes By Angela, The KEY To Your Real Estate Experience, (678) 412-0373 / (844) 385-SOLD