Credit 401

Welcome to Credit 401! Stop and smell the roses for a second. Our mission is to raise the bar for what passes as credit education, and since you made it this far it’s safe to say we are well on our way. In this course we will cover:

  • Is there any one letter that will absolve me of debt I owe?
  • What are my rights when going through the debt settlement process?

Creditors and collectors fall on a spectrum, ranging from heavenly to deal with to absolute nightmares. This course will teach you how to deal with anyone on said spectrum and begin the debt settlement process. First off, there is no one letter that will absolve you of debt that you actually owe. Credit repair companies will sell you snake oil and call it the only solution to your problems. If they had a letter they could send on your behalf, rest assured they would charge way more than a few hundred dollars a month for it.

Our Credit Score Specialist has helped his clients settle millions of dollars of debt for quarters on the dollar or less, but the catch is you have to know how to do it and do it well.

These creditors and collectors want to get paid as much as you want your scores to increase. They need your cooperation to get your money. You have rights throughout the debt settlement process. Not knowing them gives the opposing party an unfair advantage. Dealing with less than nice collectors can be exhausting. Some slimy tactics they may employ are threatening to levy your bank account, garnishing your wages, or any other motion that involves your bank handing them your money.

Stop and breathe… you have rights. In order for an institution to forcefully take your money, they need to go through the court system. If the debt settlement process were to escalate to such measures, there is always Chapter 7 or Chapter 13.

Keep calm, ask for a supervisor, remind them that you want to pay your debt, and as a last resort let them know that you still have Chapter 7 or Chapter 13 as an option. Creditors and collectors would much rather get paid all or some upfront than $60 dollars a month for 10 years (or whatever scenario implies not a lot of money monthly over a long course of time). You deserve to be spoken to with respect, never forget that.

If this whole process seems daunting and you would like some assistance, or in some cases complete assistance, in settling your debt… our Credit Score Specialist is more than happy to help. You are not far off from being effective, start asking questions and we can start filling in the gaps.

Making lenders comfortable with you is so important. This mostly concerning small business lending / real estate investment. Guys, you don’t become adept at business banking and business lending overnight. It is a process that needs to be started as early as possible in your credit life. We will go over how to acquire loans and lines of credit, both secured and unsecured.

Understanding the mind of the lender is key. Most people don’t stop and do that. Why? Because they are looking for the answer they are looking for, they aren’t looking for the truth. Getting turned down by one bank or lender doesn’t me no forever it means no here, and no now. Not no forever or everywhere. As with many things in life, we learn a ton from our failures. 

Brian Chamberlain

Credit Score Specialist

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