Saving Money 101 

by Michelle Black

Everyone loves to save money. Saving money is the quickest way for you to move closer to a balanced budget and a healthier credit report. In that spirit we will be featuring a multi-part blog series with some fantastic debt busting, money saving tips for you to start using immediately. If you can put even a few of these great suggestions to use you will see a big benefit in your finances. So, without further ado, let’s get started with today’s tip:

Tip #1: Ask for a lower rate.
Sometimes saving money is as simple as picking up the phone. You can start by calling your credit card companies and ask for a lower interest rate on your current credit cards. (This works best if you have a good payment history on your credit cards.) When you speak with the customer service agent regarding your account the first thing you want to ask is “Do you have the authority to change my interest rate?” If the answer is no then politely request to speak with someone who does that that authority, perhaps a supervisor. Once you have the right person, explain that you have seen offers for other credit cards at lower interest rates – which we all have received in the mail, via internet advertisement, or on TV – and that you would rather stick with your current card company if they are willing to offer you a lower rate. Be kind but persistent and explain why it is not affordable for you to continue paying the higher interest rate. I personally have seen my interest rate reduced from 14.99% to 9.99% by using the exact method above.

Remember, a lower interest rate can save you a ton of money depending upon the amount of your credit card balances. Of course, your best bet is always to pay off all of your credit card debt and keep money wasted on interest for yourself and your family. Please feel free to contact us if you would like to request a free copy of HOPE’s Debt Snowball Payoff Plan which can help you to plan a strategy which can get out of credit card debt for good.  If you would like more personalized advice we are here to help as well! Just give our friendly staff a call at 704-499-9696 and we will be more than happy to assist you. Don’t forget to check back later this week for more great money saving tips!

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The HOPE staff would like to congratulate Mr. Melendez of Charlotte, NC today for his recent success and credit report improvement!  Since joining HOPE, Mr. Melendez has seen his credit scores go from zero on all 3 credit bureaus up to the 600s with all 3 credit bureaus! To top off this great success he has also had $3,527 in negative, unverifiable debt erased from his credit report!

Every week the HOPE Program is proud and thrilled to help our members achieve their dreams of healthier credit and home ownership.  It’s true that the economy has damaged the credit reports of many, many good people in our country.  However, the great news is that, even if your credit scores are low, you have the legal right to work to improve them! We at HOPE firmly believe that having bad credit does NOT make someone a bad person. It gives us great pleasure to help our members recover their good names!

For more information about the services offered by the HOPE Program we please email us or give us a call at 704-499-9696.  Our friendly staff is standing by to receive your call. We would love to show you how the HOPE Program can help you to achieve your clean credit goals!

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Kicking the Habit of Overspending!
By Michelle Black

Does the arrival of your monthly credit card bill strike fear into your heart?  Have you ever discovered that your checking account is empty without knowing where your paycheck could have possible gone so quickly?  Do you have more new pairs of shoes in your closet than you can count?  If you answered yes to any of these questions then you may have a problem with overspending.

Overspending is one of the most significant causes of poor credit scores and unbalanced budgets.  I know that typically you do not set out to overspend; however, without a solid plan for spending you will find yourself in the uncomfortable situation of having more bills than money over and over again.  When you find yourself short on cash that is when bills get paid late (or not at all) and credit scores begin to slip.

Keep in mind, over-spenders are not bad people!  At HOPE we have helped thousands of members to overcome credit problems, many of whom arrived at those credit problems due to overspending.  The good news is that if these members were able to fix their overspending problems and turn their credit reports back around then so can you.  Here are a few tips to get you started on kicking the habit of overspending:

1.)  Write down every dollar you spend for the next 2 weeks.
This is the first step to help you find out if you have an overspending problem and, if so, how severe the problem has become.  Wives and girlfriends, if you are asking your spouse or boyfriend to track their spending you may want to note that men are typically a little more resistant to doing so. My suggestion? Make it easy for them!  Give your man a 3X5 card to keep in his wallet.  Just ask him to jot down the amount spent and where he spent it if he doesn’t want to save receipts.  You will still get the basic information you need this way and he may be more likely to follow through with your request.

2.) Make a spending plan (in writing) and stick to it.
You may be wondering, “What exactly is a spending plan?”  A spending plan is a written list of your monthly income (paycheck, alimony, child support, etc.) and your monthly expenses (rent, utilities, car payment, etc.).  In other words – it is a budget.  You can even contact us to request a free HOPE Budget Worksheet today! The key is to get started. (Note: if you are a current HOPE member you can give us a call today to schedule your free one on one budgeting session with a HOPE credit specialist. Talk about a great membership perk!)

3.) Trim the fat from your spending plan.
Once you have reviewed your 2 week spending list and completed your budget worksheet, look for areas where spending can be cut.  Now, I’m not talking about sucking all the fun out of your life so be sure to resist the urge to respond negatively to this suggestion.  However, I am talking about making a plan to get the things that you really want out of life (i.e. a new home, a new car, college education for children, family vacations, etc.) by figuring out what you can live without in the present.  You may be able to find hundreds of extra dollars per month by reducing cable TV plans, cell phone plans, entertainment expenses, eating out expenses, or shopping.  Don’t be afraid to take an honest look at your spending habits and see if a change can and should be made.

If you have any questions about today’s article, budgeting questions, or questions about other credit issues in general we would love to hear from you! Feel free to email us or give us a call at 704-499-9696.  Our caring HOPE Credit Specialists are standing by to help.

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At HOPE we love, love, love to brag about our members success stories.  Here’s another short testimonial about a brand new HOPE graduate we would love to share with you.  In just 5 short months this HOPE member went from a credit report with over $9,600 in outstanding collection accounts to a 100% clean credit report and $0 in outstanding collection accounts!  Awesome!  That’s not even the best news.  We are happy to report that this HOPE graduate now has credit scores in the 700s and was able to close on a home loan!!!!!

Congratulations to both our new HOPE graduate and our HOPE credit specialists for your hard work and dedication.  We are very proud of all of you for making this success story happen!

If you would like more information about how the HOPE Program can help you with your credit needs please give us a call today at 704-499-9696.  We would love to hear from you and answer any questions you may have.  No matter what shape your credit report is in right now just remember:

There’s no such thing as a HOPEless situation!

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The question that you are faced with when deciding to work towards a healthier credit report is, “should I try to fix my credit report on my own or should I get some professional help?”  First of all, please allow us to give you a big congratulations! The first step towards achieving clean credit is the decision to try.  You have already made the most important step!  Now, it’s time to figure out the logistics.

You should know that it is 100% legal for you to work on your credit report alone, with no professional assistance.  If you come across a “credit repair” company that does not inform you of this fact, be sure to run the other way as fast as you can!  ”Credit repair” has a very bad name, for a good reason.  There is a ton of scam within the “credit repair” industry.

However, just because you can work on your credit report alone does not necessarily mean that you should.   Remember, it is your legal right to represent yourself in a court of law but most people would rather have an attorney in their corner, especially if faced with a serious charge.  Another example that comes to mind, in light of the recent series of storms in the southeast, is that you legally have the right to replace your own roof if it was damaged by the elements.  Unfortunately, if you are not professionally trained and do not have experience in the roofing business then you will probably just make a bigger mess of things if you try to work on the project alone.  The same is true of credit restoration.  Do-it-yourself credit repair is often a disaster.  In the 10+ years since HOPE has been in business we have seen many people actually make their credit scores worse rather than better by trying to clean up their credit alone, without an experienced professional to guide them.

HOPE has designed a unique, one of a kind, credit education program to help our members achieve healthier credit and to learn how to maintain that healthy credit for a lifetime!  Active HOPE members receive the following benefits for no additional fees:  personalized budgeting assistance, negotiations with creditors, individual credit report analysis, and much, much more! Over 80 HOPE members have graduated our program with credit scores healthy enough to buy a home in the last 4 months alone!

We would love to invite you to schedule a personal credit analysis appointment with us (in person or over the phone) today to see what it will take for you to achieve the healthy credit you desire to have.  Analysis appointments are completely pressure-free and there is NO obligation to join the HOPE Program after speaking with a HOPE Credit Specialist.  Please give us a call today at 704-499-9696 to reserve a time for your one on one credit analysis.  We would love to hear from you!

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