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Fix My Credit Now!. Hosted by: . Contact Info:. Your Host Today Name Title More Information. Today. The challenge we face in these times The cost of poor credit The causes of poor credit Fixing your credit Your options. The Challenge.
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Fix My Credit Now! Hosted by:
Contact Info: Your Host Today Name Title More Information
Today • The challenge we face in these times • The cost of poor credit • The causes of poor credit • Fixing your credit • Your options
The Challenge • Today we face an unprecedented harsh economic environment. • Lenders have tightened guidelines. Especially for those who have poor credit or a significant amount of debts. • If they do lend—they are charging higher rates for those with poor credit. • Of course, in an economic downturn, more Americans have poor credit or are burdened by debts
The Challenge How the definition of good credit has changed • Three years ago “good” credit was over a 660 credit score. • Now “good” credit is over a 740 score. • Below a 660 score you will pay a huge premium, if you can even obtain a loan. • The average credit score in America as of March of 2009 is 678 and that score requires a premium from most creditors • There now are premiums charged for certain transactions even over a 700 score • The good news is your score can go up dramatically!
The Cost of Poor Credit First, the numbers • If you are a homeowner, you will pay more for your mortgage loan. Example: 2.0% increase over 10 years on a $200,000 loan would be $40,000! • Credit cards and consumer loans. Higher costs for credit are not limited to mortgages. All credit costs more. Example. 4.0% increase on $60,000 of average consumer debt over 10 years would be $36,000! • That is not all. Insurance and other expenses may cost more for you as well. Let’s conservatively add $20,000 for these expenses. The total bill-- • $96,000 over 10 years • $9,600 per year • $800 per month Can you afford this extra expense?
The Cost of Poor Credit Beyond the Numbers • Poor credit can keep you from reaching your goals. Example: You might have to spend your life as a renter instead of a homeowner. That means never accessing the benefits of the tax deduction or the leverage and security of owning. • Poor credit can be embarrassing. Example. What is the feeling to have your credit card application be rejected or the charge denied in a restaurant? • Poor credit costs happen to those who can least afford the expenses. The poor get poorer and the rich get richer. These expenses keep those who are struggling to succeed down. • Poor credit can keep you from getting a job! Getting your finances in order is the first step forward
The Ultimate Goal More than just purchasing a home • The financial crisis was exacerbated by putting people into homes they could not afford • A major reason is that we had programs for those with poor credit—but the homeowners had to pay high rates. • This caused foreclosures and people lost their homes. • This is a great time to purchase because the foreclosure crisis has caused prices to come down and rates are low—which means affordability is at an all-time high. • Here is the ultimate goal Purchase a home and get an affordable interest rate so you can afford the home of your dreams. • What is required? A higher credit score!
The Causes of a Low Credit Score Late Payments • Everyone understands that paying late negatively affects credit. • This is also a vicious cycle. Paying late increases the cost of credit and bills go up. Then you are late even more. • This vicious cycle can lead to collections, foreclosure and/or bankruptcy. How do you break the cycle? Stay Tuned…
The Causes of a Low Credit Score Too much credit/ not enough credit • When you borrow too much, it hurts you in several ways— • It increases late payments because you can’t keep up. • It decreases available credit which means that you are close to the high credit limits and lowers your score. • Too much outstanding credit in itself, especially revolving, can hurt your score • So don’t borrow at all? Not enough credit lines means that you don’t have a score and that can be worse!
Fixing Your Credit Things That Will Help Besides Paying On Time • Work on your credit report: • Correct mistakes • Make sure lenders are in compliance in what they report • Close unnecessary accounts (but not too many). • Lower your debt load • Paying off debt is a science • Some debt is better than others: deductible (mortgage) vs. non-deductible • Higher interest rate debt costs more • Stop wasteful spending • Example: Starbucks, soft drinks, alcohol and cigarettes (there are others) • $5 per day is $150 per month. You could pay off your debts a decade earlier with that money What if you negotiate with your lenders? Renegotiation can lower your score significantly, preventing you from getting any additional credit
How Do You Do All That? Here are your options… • Do nothing • You will never meet your goals. Let me ask you… Are you happy staying where you are forever? • Try to do this yourself • How have you done thus far without help? • This is the best clue as to whether you will be successful • Do you have financial expertise? • Use experts to help you • Obviously, they must be affordable and effective • They have to help you with all three solutions Let me clarify one thing— As much as I would like to, I can’t do all of this for you. I am not the credit expert. I am the expert that will help you purchase and/or refinance your home when you are ready. However, experts align themselves with other experts.
I Would Love For Someone To Do This For Me …but it sounds expensive • You are right, hiring a financial planner, credit repair specialist and purchasing debt reduction program would be expensive. Literally thousands of dollars up-front. That is the bad news. • Here is the good news. Through extensive research, I have found a company that will help you… • Lift your credit score by an average of 50-150 points • Pay your debts off in 1/3 to 1/2 the time • Provide unlimited meetings with financial planning experts to set up budgets, retirement planning & more. • Give you four great other services as well which we will not go over here—because we are focused on your financial situation. • And it is full service—they do all the work! How much do you think that would cost?
How about:$15 to join & $69 per month? • Less than one cup of coffee per day • No long-term obligation • 30-day money back guarantee • Remember, you will not change your results in a few weeks—it did not take you weeks to get into your situation and it will not take a few weeks to right the ship. • Again, it is full service—they do the work. • How is that possible? Because we service tens of thousands—this is a strong national company that shows that there is power in numbers. • And with the new service—FDI Voice—you can save more than that off your telephone and cell bill every month.
How Do I Pay The Cost? After all—I am in that vicious cycle.. • When your situation is tough-even a small amount of money is difficult. • First: Remember that you get to meet with financial experts? They can show you how the monthly fee could be deductible, lowering the costs or even getting it all back. • Second: The cost savings of FDI voice can help pay for the membership fee by itself. How much are you paying for phone bills now? • Third: Remember the benefits. You are paying up to $800 more per month now. Can you eliminate one cup of coffee or one alcoholic drink per day or one soda per day? • For those of you interested, I can also show you how to make your membership free. Just stay afterwards.
Does It Work? Don’t take my word for it—listen to the words of those who have used the services: • FDI has truly been a blessing to me, through the services and the income opportunity. CreditTrax has increased my credit score 100 points over the last year, now my score is a 700. The student loan refinancing reduced my already consolidated student loans from $221.00 a month to $ 131.00 a month. Thanks FDI. Khary Pittman • We signed up for CreditTrax and in just six weeks Bob's score has already gone up 70 points! We continue to receive paperwork from the three credit reporting agencies and forward it to CreditTRAX. They take care of everything. Mary and Bob Shappell • I first got a First Class Membership with FDI to use the services. My credit wasn't that great at the time, but CreditTrax raised my score by 100 points in just 7 months. They took 50% off the time I was going to be in debt saving me tons of interest without changing my monthly budget. Besides all that, the cash flow and tax savings information has been priceless! Jeremy Koch
Who is the Company? Financial Destination, Inc: FDI • 18 years credit repair experience • Has helped tens of thousands just like you • Headquarters north of Boston • Services: • Credit Trax: Full service credit repair • EquityTrax: Debt Reduction • MoneyTrax: Personal financial advice • LifeLock: Identify Theft Protection with a $1 million dollar guarantee • TelaDoc: 24/7 Access to a doctor at no chargewhether you have insurance or not • FDI Voice includes • Personal Concierge: 24/7 personal assistant you can call • Unlimited local calling and long distance • A virtual personal assistant • Every one of these are included in the $69/mo Preferred Membership.
That is not all: • One number for your business cards • 24/7 Personal Concierge Kylee Live • Unlimited local and long distance calling • Addition of international plans • Lower your cell phone bills also • FDI Voice Cell coming in January—no credit check
EquityTrax – Live a Debt Free Lifestyle CreditTrax – Maximize your Credit Score* MoneyTrax – Financial Advice on Demand Personal Financial Assistant – Everything Financial All This For Only: $14.95 To Join $69.95 Monthly Preferred VIP Membership Includes… * Free benefit to Preferred and First Class Members
Discount Pharmacy – Save 50% or more TelaDoc™ – 24/7 Access to a Physician LifeLock – Guarantee your Good Name All This For Only: $14.95 To Join $69.95 Monthly Preferred VIP Membership Also Includes…
Are you ready to fix your credit now? • Come to me right after the program and say I am ready. • It takes five minutes to sign up and another five minutes to get enrolled in credit repair, the first priority. • Allow another hour to enroll in the other services. Your personal financial assistant will help you. • If you don’t get me afterwards, My website is: _____________________ • Click on Join Now • Enroll as a Customer • Enroll as a Preferred Member.
One Other Thing To Add • There is one other side of your credit equation. • If you increased your income you could pay off debts and get your credit straightened out even faster. • Yes, you can get paid for doing what I do. • The best person to do that is someone who is already getting your credit fixed—because you can talk about personal success. • Therefore, I will talk to you about it after you take the first step.
