GoDefyLife.com’s very own Rodney McDaniel talks credit with popular credit expert Jeanne Kelly.
Having strong money management skills is very important to us all. A part of that money management process for most American households includes managing their credit. Credit can be a great tool for those households if used properly. If not used wisely it can be a nightmare. According to the credit bureau Experian, 30% of American’s have poor or bad credit. For those that have bad credit, the harassing phone call from a debt collector is no fun. When you want to get that new car or house and you can’t because of your credit, it can be disappointing. For those with bad credit all is not lost. There is light at the end of the tunnel!
I recently had a discussion with Jeanne Kelly the “Credit Coach” She is an author, speaker, and credit expert. Jeanne has helped many people across America turn their lives around with her successful programs. She was recently featured on New York’s Power 105.1’s hit radio show “The Breakfast Club”. In addition, she has been seen on NBC’s “The Today Show” and featured in “The New York Times”.
So Why Did You Get Into Credit Coaching?
I had bad credit after my divorce many years ago. It took me a very long time to fix my credit and when I was trying to fix it, I was still making mistakes. There are so many things you do not realize with your credit. Once I figured out the best ways to work on my credit, I wanted to share the information. It is so much easier when you know what to do with your credit and you are not just guessing.
Why Is It Important To Have Good Credit? How Does Bad Credit Effect You?
When you have good credit and need an auto loan, home loan, or credit cards, you not only want to be approved but at a good interest rate. Also, your credit is a factor in some car insurance rates. Some employers check your credit. I feel it is very important to have the best credit you can. When you do hit some financial bad times and have bad credit, it can be difficult. You seem to have a hard time getting out of the financial trouble because, with the bad credit you are getting bad interest rates. So you’re paying more for things when you need the help the most.
Is All Bad Credit Repairable? Is There Any Credit That Is Too Bad, Or Unrepairable?
I think you can always get back on track with your credit. If you know you still can’t make payments on time and new late payments are going to keep being reported month after month, then during that time your credit score will be low. But if you decide today to start focusing on making those payments on time, that is a step in the right direction.
Is It Important To Know Your Credit Score? How Do You Get Your Credit Score And Credit Report Information?
I think it is more important to know what is on your credit report than worry too much about your score. If you want a free copy of your credit report go to annualcreditreport.com. When you are thinking about a purchase of a new home, I would suggest knowing your credit score before making that decision. So, in advance I would go to myfico.com and purchase my report with the FICO credit score. 90% of lenders use the FICO scoring model, so that would be the score you want to look at.
How Long Does It Usually Take To Turn Around Bad Credit With Your Programs?
It can be as quick as 30 days or it could be months. It really depends on what is on your report, when you can pay things down and how long to rebuild new healthy accounts.
How Does Someone Who Needs Help With Their Credit Contact You?
My website is http://www.jeannekelly.net. I can be reached by phone at 866-283-8818. I am also on Twitter, Facebook and Instagram.