Ways to Save Money Part 3

Ways to Save Money Part 3

This entire week is devoted to helping you find more ways to stretch your hard earned cash.  Please email your friends and family with a link to our blog so that they too can benefit from these great money saving techniques.  Read below for some more advice.

Tip #3:  Ask for Your Interest Rates to Be Lowered!

If you have good credit and a good standing with your credit card company then you may be able to qualify for a lower interest rate.  All you have to do is call up your credit card company and ask if you are eligible to receive a lower interest rate.  I have personally used this technique in the past.  My credit card company lowered my interest rate from a 14.99% fixed APR to a 9.99% fixed APR just because I called and made the request!

 Now, if you have made late payments to your credit card company in the past couple of years you probably will not able to receive a lower rate.  If you have late payments or other issues on your credit report our staff can help you.  Give us a call at 704-503-3669 for more information about how HOPE can help you to overcome your credit problems.   We are waiting for your call.

Ways to Save Money Part 2

Ways to Save Money Part 2

Today we are continuing to discuss the theme of saving money.  Even during great economic and financial times it is important to spend our money wisely.  During times like we are presently facing, it is even more imperative that we spend our hard earned money carefully.  Here is another great tip that can help you.

Tip # 2:  Ask for Your Current Bills to Be Lowered!

You probably don’t realize it, but you may be able to negotiate a lower price on some of your current bills.  A friend of mine recently told me how his cable company lowered his monthly bill when his wife called to tell them she was switching to Direct TV.  The cable company wound up lowering their monthly bill nearly $50 per month PLUS they received some additional features and services for free!

 When my friend told me his story, I decided to try contacting my personal cable company to see if my monthly bill could be lowered.  I spoke with a customer service agent and explained that I had received cheaper offers in the mail from Direct TV lately (which I have) and asked what they could do to lower my monthly bill.  After holding for a few minutes the customer service agent came back and offered me a savings of $20 per month. 

Other companies may be willing to lower your monthly bills as well.  Try calling some of your current creditors (i.e. cable company, phone company, cell phone company, child care service, newspaper/magazine subscriptions, etc.) to request a lower payment.  All it takes is one phone call to find out if you can save some of your hard earned money.

Please remember, if you are facing credit problems the friendly staff here at HOPE can help you.  Just give us a call at 704-503-3669 to learn more about the wonderful services we offer.  There’s no such thing as a hopeless situation

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.