5 Ways to Invest Your Tax Refund
by Michelle Black

It’s that time of year when you may be receiving an extra check from Uncle Sam – your tax refund!  Before you let that refund check burn a hole in your pocket, first think about how you can invest those extra funds to improve your quality of life and strengthen your financial health.  Here are a few suggestions we have put together for you to consider:

1.  Pamper Yourself and Have a Little Fun!
Being responsible does not mean that you have to deny yourself completely.  Now, we are certainly not suggesting that you go on an all out spending spree, which you will almost certainly regret later, and blow your entire check.  However, spending a predetermined amount of cash (10% of your refund or less) on a weekend getaway, spa treatment, shopping trip, or that new fishing pole you have been eyeballing is a nice way to reward yourself for the discipline you will be using with the other 90% of your refund.

2.  Give to Your Local Church/Favorite Charity.
At HOPE we are strong believers in the principle that you will reap what you sow.  It is important to remember your local church or another worthy organization if you are not currently committed to a local church.  If you do not have a local church or other charity in mind, HOPE recommends www.ambassadorstothenations.com for a wonderful organization which funnels 100% of all charitable contributions to those in need.

3.  Pay Down Those Credit Cards!
Want to improve your credit scores or shave some money off your monthly financial obligation budget?  If you do then paying down your credit cards is, by far, the best way to achieve both of these goals.  You will save money in interest and, since high credit card balances lower credit scores, you will also most likely see a positive increase in your credit scores.  (Note: Current HOPE members, please contact us to request a free HOPE Snowball Effect debt payoff plan to help you see the biggest “bang for your buck” possible!)

4.  Save Money for Debt Negotiations.
Collection accounts can have a big impact upon your credit scores.  So, if you have past debts that are still hanging over your head (i.e. medical bills, student loans, credit cards, etc.) then now is the time to do something about it while you have the extra cash.  However, be careful before you start actually paying off these old debts on your own.  It is highly recommended that you check with a HOPE Negotiations Specialist first to see how you can potentially save up to 50% off your old debt and stretch your dollars as far as possible.  Don’t have any negative debt to pay off? Great! Instead of starting a debt negotiations saving account start (or add to) an emergency fund for your family.  The next time your car breaks down or you have an unexpected doctor’s visit you will be glad you set those funds aside for a rainy day!

5.  Become a Member of the HOPE Program.
You may have figured that we would put this suggestion into our article.  However, we can say with 100% certainty that, if you desire to learn how to achieve healthier credit, then a HOPE Program membership is just what you need to get started!  With professional credit analysis appointments available for just $30 and affordable membership options beginning as low as just $99 per month it has never been easier to achieve the clean credit report you desire to have.  Interested in learning more about our membership services?  Give us a call at 704-499-9696.  Our caring staff will be happy to answer any questions you may have.

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At HOPE we love to brag on our members and staff by sharing some of their awesome success stories.  This week we have another new member, Lisa, who has received some great news.  Lisa joined HOPE around 3 months ago with an Experian credit score of 584.  As of April 2011 her Experian score has jumped all the way up to 654! That’s a 70 point increase in just 3 months! Wow!

Not only has Lisa’s score increased, but her credit report is getting cleaner by the day as well.  Lisa has already had 8 negative collection accounts removed from her credit report and HOPE is now helping her to negotiate the remaining negative accounts on her credit report. We know that she will achieve healthy, “loan ready” credit very soon and are so happy to see the hard work of our caring staff pay off!

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I came across a www.hope4usa.com article from a couple of years ago this afternoon that I thought was worth sharing again.  Many people do not truly understand the dangers and extreme risk associated with co-signing for a friend or family member’s loan.  I hope that this article will help to shed a little bit of light onto the subject.

The Dangers of Co-Signing
By Michelle Black

We’ve all been there.  A friend or family member asks you to co-sign for a car loan, a home loan, or some other type of finanancing and you feel obligated to help them out.  You might think that being a co-signer is not really that big of a deal since you are not the primary borrower on the account.  However, the truth is that co-signing for someone else really is a big deal and not only is it a big deal, it can be detrimental to your credit as well.

When you co-sign for someone else’s loan you are legally responsible for the account just like you would be if you received the loan for yourself.  Plus, although you are not in control of making the monthly payments, the credit history for the account will affect your credit score.  If the person you have co-signed for makes even 1 late payment on the account, your credit score could potentially drop up to 100 points!

The HOPE Program strongly recommends that our members never co-sign for a friend or family member, not even for a child.  Spouses are the only people you should ever consider co-signing for and then only if 1 of you cannot qualify for the loan without the other’s credit.  We know that can be very hard to say “no” to a loved one, but if you make up your mind ahead of time that you will never co-sign it can help to make the situation a little easier.  In fact, often times HOPE members simply tell their loved one, when they have been asked to be a co-signer, that their credit advisor has asked that they do not co-sign.  Period.  This helps the member not have to be the “bad guy” when faced with the request of being a co-signer for someone else’s loan.

Remember, you can refer your friend or family member to the HOPE Program if they are facing credit issues.  Our caring staff will be happy to help the people you care about establish the healthy credit they need so that they will be able to achieve healthy, “loan ready” credit of their own.  Please call 704-499-9696 for more information on the amazing services offered by the HOPE Program.

Today we received an email from a lender letting us know some exciting news about a HOPE member:

“I have the credit pulled.  You now have a 683 Mid Score.  That is great!!  Awesome job HOPE.  This is a success story.  Ya’ll are ready to buy.”
~K.M.

The HOPE member’s credit score has risen from 620 to 683! That’s an increase of 58 points since joining the HOPE program a mere 52 days ago! We are so proud of our staff and HOPE members for all of their hard work.  This is just another example of how healthy credit is achievable for anyone who is willing to try.  In fact, over 80 HOPE graduates in the past 4 months have achieved credit scores healthy enough to purchase a home! So what are you waiting for?  Call us at 704-499-9696 today to schedule your NO-OBLIGATION credit analysis and find out how healthier credit could be just around the corner!

We received some exciting news from a lender this week about a member of the HOPE Program:

“A client who started with a 550 mid score now has a 650 mid score!!! Thanks Hope USA…I appreciate all that you do.”
~S.W.

At HOPE our goal is to help our members realize their goal of homeownership and healthy credit as quickly as possible.  Since HOPE is a credit education program, not a credit repair company, we have the ability and freedom to focus on helping our clients complete our program fast.  HOPE will never try to stretch out your membership longer than necessary in order to collect additional fees.  Our goal for 10+ years has always been to help our clients graduate with healthier credit as quickly as possible so that they will be very satisfied and will be able to refer others to us in the future.  This helps HOPE to see even more graduates complete our program with credit scores ready to purchase a home! In fact, HOPE has had over 80 graduates in the past 4 months!! That’s the HOPE difference!

For more information on the services provided by HOPE please call 704-499-9696.

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