Ways To Save Money - Part 1

We can all benefit from saving money, right? Of course we can. When our finances are in order and there is enough money to pay the bills saving money can mean that there is extra to put away for emergencies. When money is tight it is even more important to find creative, if not always obvious, ways to stretch our dollars further.

In the spirit of saving money we have decided to post this multi-part blog with tips that can boost your personal budget. Please share this article with your friends and family members as well. We hope that you will find some very useful ideas in the days to come.

Tip #1: Cut the Fat From Your Budget!

A simple rule of thumb when it comes to planning your personal financial budget is that you cannot spend more than you earn. First you need to add up all of your monthly bills and expenses. Next, add up your monthly income. If your bills and expenses total more than your income then one of two things has to occur: spend less or make more.

Here are a few common expenses that you may be able to consider lowering or cutting from your budget entirely:

• Cable (Cut or considering downgrading to basic cable only.)
• Cell Phone (See if you can change to a cheaper plan with fewer minutes.)
• Eating Out (Limit yourself to fewer meals out per month.)
• Pest Control (Buy spray from your local hardware store instead of hiring professionals.)
• Nail Salon (Either go longer between visits or buy tools to do your mani/pedi yourself.)
• Gym Memberships (Your health is important, but you could develop an at-home fitness regimen until your budget can support the added cost of a monthly gym membership.)

We know that cutting spending is never a fun process. Truthfully, it can be downright painful at times. However, when you have cut your excess spending enough to create a balanced budget for yourself you can breathe a sigh of relief.

Just think of all of the stress you will be eliminating from your life when you don’t have to worry whether or not you will have enough money to pay your bills each month. Visit us again tomorrow for another great tip on saving money!

If you would like professional assistance from our caring credit specialists at HOPE4USA please give us a call. You can reach us at 704-499-9696.We would love to hear from you.

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How Long Will A Bankruptcy Stay on my Credit Report?

I have often been asked, "How long will a bankruptcy stay on my credit report?" A Chapter 13 Bankruptcy public record may stay on your report for up to 10 years from the date filed or up to 7 years from the date of discharge, whichever occurs first. A Chapter 7 Bankruptcy public record may stay on your credit report for up to 10 years from the date it was filed. 

HOPE4USA helps educate our clients through the maze of re-establishing healthy credit, even after filing for a bankruptcy. You can have a good credit report again even post bankruptcy. HOPE4USA would love to teach you how and help you to try clean up any mistakes on your credit reports (which commonly occur during a bankruptcy) at the same time. If you are interested in finding out more please call us at 704-499-9696. We are waiting on your call!

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Ron Lambright is an expert with over a decade and a half of experience in credit repair, credit improvement, credit reporting, and credit scoring. Ron is called upon weekly to speak at various seminars educating attorneys, loan officers, Realtors, other professionals, and consumers regarding the complex subjects of credit reporting and credit scoring. He is regularly featured on talk shows and podcasts and has been published in countless articles, educational handbooks, and blogs. He is an expert at teaching consumers and business owners how to achieve their credit related goals. Connect with Ron on Facebook here. 

Should I Close My Credit Cards?

I was asked this week, "Should I close my credit cards?" The answer is most likely going to be no.

It is almost never a good idea to close your credit cards. I have had many clients pay off and close credit cards before coming to see me, thinking they were doing the right thing. Many times the first thing I had to do was help them re-open new credit card accounts.

Closing a credit card does not actually cause you to lose credit for the history of the account, although this is a common myth you will come across online. However, when you close a credit card account you could increase your aggregate (that is your combined) revolving utilization ratio. If your revolving utilization ratio increases then your credit scores will probably fall.

To learn more about revolving utilization and how it impacts your credit scores, click here. 

Need to establish new credit card accounts? Click here are some options to consider.

HOPE4USA helps our to work toward resolving their credit problems every day. If you would like to know more about what it takes to have healthy credit please call us at 704-499-9696. Our staff is waiting on your call!

CLICK HERE to schedule a no-obligation credit analysis with a HOPE4USA credit expert.

Don't Get Scammed!

Don’t Get Scammed!

Let’s face it. There is always going to be some dishonest person out there who wants to scam you out of your hard earned money. With the current state of our economy it is more important than ever to guard ourselves against these would be thieves. Here are a few examples of some common scams that you should avoid at all costs:

 1. Get Paid Big Bucks to Work from Home.

Not all “work from home” opportunities are scams. However, if you are asked to pay money upfront to the company wishing to “hire” you, it is probably a bad idea. Many of these dishonest companies will ask you to pay for training or for a sample kit of the product you will be selling. Bottom line, if you have to give the company money to begin working for them you should BEWARE!

2. You Have Won Money.

If you receive a letter or email telling you that you have won money you should automatically be cautious. The truth is that if it sounds too good to be true, it usually is. There are several scams that start out by sending you a check for your winnings. In the end, you could end up giving crooks access to your bank account by depositing the checks. If you can’t remember entering the contest from which you have supposedly won this money it is probably a hoax.

 3. Phishing for Your Personal Information.

If you have a PayPal account, a credit card, a bank account, or even simply an email address you are a potential target for phishing scams. The way most phishing scams begin is with an email. You’ll receive an email from PayPal or maybe your credit card company asking you to fill in your account number, user name, and/or password. Sometimes your social security number or other personal information is even requested.

The problem is that these emails are often fakes and once you have filled them out you have given your personal information to a crook looking to steal your identity and/or your money. The only way you should EVER enter your user name and password for an online account is by typing the web address of your bank directly into your web browser (i.e. ABCBank.com). You should never follow a link which was provided to you in an email.

If you have already been a victim of scam or identity fraud the experts at HOPE4USA can assist you. You have the right to try to correct identity fraud on your own of course, but you can also hire a professional if you are too busy or too overwhelmed to tackle the recover process alone.

Thankfully, you do not have to be stuck with a bad credit rating that comes as a result of identity fraud. The Fair Credit Reporting Act gives you a lot of rights and protections where identity fraud is concerned.

Contact us today at 704-499-9696 for more information about how HOPE4USA and our credit experts can help.We are waiting for your call.

More Advice: What Can I Do If I Am A Victim Of Identity Theft?

Today, we will continue discussing the theme of yesterday's post, "What can I do if I am a victim of identity fraud?" Millions of people every year are victims of identity theft and fraud. Even more are victims of credit/debt card fraud. You have to protect yourself because we are all vulnerable to the tactics of thieves and scam artists.

Here are a few more things you can do to protect yourself:

Handling problems with existing credit or debit accounts.      

1. Immediately dispute fraudulent charges with your bank or card issuer.    

2. Request replacement cards with new account numbers.    

3. Carefully monitor your bills for evidence of new fraudulent activity.      

Handling debt collectors trying to collect fraudulent accounts.

1. Ask for the company information and the person contacting you.      

2. Tell the collector that you are a victim of fraud and not responsible.      

3. Ask for the name and contact information of the original creditor   

4. Ask the amount of the debt, account number, and dates of the charges.

5. If the account is on your credit reports, dispute it with all 3 credit bureaus. 

It is your right to work on credit issues yourself, but you may want some assistance to correct the effects of identity fraud if you feel too busy or too overwhelmed to try address the issues alone. HOPE4USA educates and assists our clients in remedying the effects of identity fraud. If you would like to know more please call us at 704-499-9696. We are waiting for your call.

Fix Your Credit, Fix Your Life

Your first step towards the credit you deserve!

---

Credit Repair Tool Kit

Get your copy for FREE today!

---

Ron Lambright is an expert with over a decade and a half of experience in credit repair, credit improvement, credit reporting, and credit scoring. Ron is called upon weekly to speak at various seminars educating attorneys, loan officers, Realtors, other professionals, and consumers regarding the complex subjects of credit reporting and credit scoring. He is regularly featured on talk shows and podcasts and has been published in countless articles, educational handbooks, and blogs. He is an expert at teaching consumers and business owners how to achieve their credit related goals. Connect with Ron on Facebook here. 

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