You can read the sample issue below:
Sample Issue:
Did You Know?
Your Credit
Family Finances
What's the Answer?
How To Contact Us
Publisher's Letter
Credit Bureaus
Trans Union Corporation Consumer Disclosure Center
P.O. Box 390
Springfield, PA 19064-0390
1-800 916-8800
Experian
P.O. Box 949
Allen, TX 75013-0949
1-888 397-3742
Equifax Credit Bureau
P.O. Box 740241
Atlanta, GA 30374-0241
1-800 685-1111
Did You Know?
The Secrets to Good Credit and Debt Reduction. A Consumer Self-Help Guide is here! The author, D. J. Williams, spent more than a dozen years in the mortgage finance business, as a senior loan officer, assistant vice president, and sales manager of several regional and national financial corporations.
Williams left the mortgage lending business after teaching thousands how to attain, maintain and retain good credit and why having bad credit is detrimental to your life. Why did she leave? "...for a number of reasons, one was the issue of predatory lending. I saw the appalling trend of predatory lenders making easy money from people who were not knowledgeable about credit and financial issues growing very rapidly," Williams stated.
The March/April issue of the Credit Counselor discussed the rapid growth of predatory lending. Williams continues, "I had no intentions of writing a book. I wanted to write an information brochure but I starting writing and couldn't stop. There was so much information I felt the public needed to know." The Secrets to Good Credit and Debt Reduction, A Consumer Self-Help Guide is concise with fifteen easy to read, short chapters with points to remember after each chapter. It is perfect for classrooms, one on one counseling and self-study. The book has four parts.
1.
Understanding Credit A complete understanding of our credit system, how credit affects you, credit scoring, consumer rights and how detrimental bad credit is to your life.
2.
Establishing a Good Credit Rating A workbook with instructions for establishing a good credit rating, repairing a bad credit rating, dealing effectively with credit repair organizations, collection agencies and protecting your credit.
3.
Getting Out of Debt Explores strategies for reducing and eliminating personal consumer debt.
4.
Credit and Purchasing a Home Takes the stress out of the home loan process.
The book is available through our Web site at http://www.GoodCreditNews.com or from Premier Educational Services. P.O. Box 771736, St. Louis, MO 63177, (314) 436-4002. Community organization, churches, schools and businesses should ask about quantity discounts. The book is also available through physical bookstores and online at Amazon.com.
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First Steps To Financial Freedom
Good credit and low debt are the first steps to achieving financial freedom. Financial freedom has a different meaning for different people. One person will say financial freedom means being able to acquire what you want, when you want it, and at the best price. Another will say not owing anyone is financial freedom. Entrepreneurs will say financial freedom is working for your self, and investors will say financial freedom is having an income without going to work every day. Whatever meaning of financial freedom you choose, good credit and low debt are the first steps.
Your Credit
Credit Clubs?
Why not establish Credit Clubs to help one another to solve credit problems? Help each other to understand the credit report, write letters and follow up. I know your credit is very personal business that you may not want to share with strangers. So establish them within families. Older children could do the letter writing for parents or vice versa. Establish monthly meetings to discuss credit issues. Just a few ideas!
What's the Answer?
Q What do you think of buying a duplex instead of a single family for a first home?
A: Buying a duplex instead of a single family for your first home purchase is a great idea for a number of reasons. The cost of home ownership is reduced by the rent you receive from the second unit. You get the tax benefits of a primary residence and investment property. The challenge is that you become a homeowner and landlord at the same time.
Q : How do I repair my credit if I am not good at writing letters?
A: Get someone you trust to write the letters for you. Some housing counseling agencies will help with credit repair. Start a Credit Club.
Q: Can my employer get my credit report without my knowledge?
A No.
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A Little Wisdom
"No one is useless in this world who lightens the burdens of another"
Charles Dickens
"The only place you find success before work is in the dictionary"
May V. Smith
More On Credit Scoring
Did you know insurance companies look at credit scores before issuing insurance? Your credit score will determine what type of insurance you will get and how much you will pay for it.. This includes all types of insurance according to an insurance agent we spoke to recently. Up until recently, consumers were not privy to their own credit scores. These scores were only for the people who were granting credit. This has changed. You can now get your credit score along with an explanation of how the score was calculated. Of course there is a charge of $12.95 and you need access to the Internet. You can get credit scores at two web sites, www.equifax.com and www.myfico.com. The cost is the same at both sites.
Family Finances: Buying a Home
What is the first thing to do before making the decision to purchase a home?
The first question to ask is can I pay cash for a home, or do I need to borrow the money to pay for the house? The money borrowed to pay for a house is called a mortgage. The best mortgages are not easy to get unless you are prepared. First and foremost is your credit rating and what is your credit score? Second, how much can you borrow? How much do you earn? What is the source of those earnings? How much debt do you have? Third, how much money do you have? Do you have the money for a down payment and closing cost or do you qualify for some assistance? The answers to these questions will prepare you for the most important purchase of your life.
Gross Income versus Net Income
Gross income is your salary before any deductions. Your W-2 shows gross income. Net income is your salary after deductions, i.e., your take home pay.
Lenders use gross income to qualify you for a mortgage.
For example, your annual salary is $40,000; this salary divided by 12 will give you a gross monthly income of $3333.33. The lender will determine your house payment and the amount of debt you can owe using this figure. This figure is much higher than your net income or your take home pay.
Look at your take home pay and determine the house payment you can realistically pay along with your other bills. I am aware that affordable housing is a major issue in this country. The traditional percentage allowed for a house payment is 29% of gross monthly income. Many are spending as much as 35% of their gross income on a house payment.
For more information on this topic read the excerpt from the chapter on A Stress-Free Loan Process in The Secrets to Good Credit and Debt Reduction; A Consumer Self-Help Guide.
