The fastest way to remove collections and charge-offs. "Oh, yeah. You heard that right.
There is a fast way to remove collections and charge-offs and end up with a great
personal credit score. Noelle had a very bad credit score and now I don't.
I'm going to show you exactly how I did it and how you can do it too. Let's go.
I'm going to share with you why you should never pay collections or charge offs and what you
should do instead. I'm going to share with you my insider secrets that took me from a credit score
of mid 500s to over 800 today. And I'm going to share with you the big secret to getting
a great credit score absolutely free. There are so many benefits to having a great credit score.
I remember when I had bad credit with multiple foreclosures and bankruptcies, I could not buy or
finance anything. It was terrible. Especially the public records. When you have things like charge
offs and bankruptcies or foreclosures, it really kills your credit score because that stuff stays
on your credit report in some cases for 10 years instead of 7. So, it can really plague your credit
score and it's really hard to have a good credit score with those things on your credit report.
I realized even as I was getting new credit cards and new debts and I was paying them on time,
I still had a very poor credit score because I had those collections and charge offs and
that bankruptcy and all of those things on my credit report that were dragging down my score.
But now that I have great credit, I'm able to do so much more. People will lend me millions
of dollars. I have credit cards with limits I've never even thought were possible. It is amazing
what you can do with great credit and how much money you can make when you have good credit.
Having good credit not only allows you to borrow more in your personal name.
It will help you build business credit even faster and take your business to a whole new level. Let
me tell you about that. So, let me first explain credit reports because this is super important for
you to understand. When it comes to credit reports for personal credit, we have 3 bureaus --equifax,
transunion, and experian. aAd all of those three credit bureaus will give you a score based on
how well you pay your debts, the types of trade lines that you have. Again, the different type of
creditors that are reporting and how much debt you have in relationship to the income that they are
estimating for you. It's a weird algorithm that creates the score that none of us knows. No one
knows how exactly to affect your credit score. But I'm going to give you some tips to tell you
how I took my credit score from a very low one to a very high credit score today. So, when it comes
to credit reports, collections and charge-offs can absolutely kill your credit as you already know.
Like I said when I was in my parents' basement with a bankruptcy and multiple foreclosures, I
had terrible credit. I definitely had collections and charge-offs on my credit that I had included
in my bankruptcy. So, my credit was an absolute disaster. So, if you have not filed bankruptcy
and you just have collections and charge-offs on your credit report, this is something that
we can fix. Let me quickly tell you the difference between collections and charge-offs. Collections
are accounts that have gone past due. Meaning, you've paid it 30 days late, 60 days late, 90 days
late. And in many cases, they are probably still calling you, their company. So, say for example,
you owe Chase credit card and you just stop paying them. At first, they're going to start reporting
you late on your credit report. They're going to say, "Hey, this person didn't make a payment this
past 30 days". And they're going to mark that on your credit report. And your credit score
is going to drop immediately as soon as you even pay something more than 30 days late. Imagine if
you paid that 60 days late or 90 days late. Your credit score is just going to go lower and lower
as you pay people late. And as you stop paying creditors, your credit score will go down really
really low. Collections can absolutely kill your credit score. But charge-offs can be even worse.
Charge-offs are when they're done calling you and they have decided that you are not going to
pay them and they charge the debt off. So, in many cases, it may take 6 months, it may take a year,
and they will charge that debt off. And then they send it to a collection agency. So,
it goes from collections being in collections with the company that it was with to being charged off.
Meaning they roll off the debt to then going to a collection agency who will then collect on their
behalf. There are collection agencies that pay for debts from other companies that they already
wrote off. So, again, if you stop paying chase for example and they write that debt off, they will
take a loss on that. They said, "Okay, this person is not paying. They are done." But there are third
party collection agencies that will buy that debt from Chase for pennies on the dollar. So,
let me give you a quick example. So, say you owe Chase $1,000 and they wrote that off. This third
party collection agency might pay $100 to Chase to buy that debt from you.Now, that collection agency
will start calling you and asking you for $1,000. And anything that they collect over the $100,
they get to keep. That's how the game works. So, I just told you something amazing there and I hope
you understood that. You may need to listen to that twice. Many people do not understand
that whole process that it goes from collections with the creditor to a charge off to a collection
agency. And that collection agency just bought the debt. You do not have to pay them. It's
already been charged off. And this is why you will never pay them. I'm going to tell you what to do
instead. So, if you got that and you are understanding how this credit game works and you
love this information, please make sure you like this video, make sure you subscribe to my channel
and make sure you click that little notification bell so you do not miss any of this great content
that I am bringing to you every single day absolutely free. And don't forget to share this
video with someone that can use this information because we can change some lives. Okay. So,
the next step, if you really want to get those collections and charge offs removed and get a
great credit score, this is what I did. Instead of doing credit repair, you should get signed up with
a credit restoration company. This will help get all of those bad debts removed and eliminated from
your credit report in many cases. I worked with a company called creative credit solutions.
I have a link below for you. I'm not being paid anything to promote this but they are a company
that I worked with and so many of my students have worked with. Again, it's not credit repair.
It's credit restoration. II know the owner of that company and he knows some amazing things
to get your credit score way over what it used to be. I increased my credit score by nearly 200
points by working with this company and getting all of those bad marks off of my credit report.
This is so important. If you want a great credit score, you have to get those bad things off of the
credit report, altogether. Not just start getting new debts and paying them. You have to get that
bad stuff off. And creative credit solutions can help you out. Check them out with the link below.
So, as a bonus, let me tell you how to handle the collections people that call you. Like I said,
I've had bad credit. I know what it's like. Creditors calling, the phone is ringing, different
collection agencies. All those stupid 800 numbers. But here's what you do if you have collections or
charge offs. Do not answer the phone. Don't answer the phone. Do not acknowledge the debt,
start getting those things off your credit report. Don't try to make deals with them,
do not do that. Get a professional to help you and let them do it for you.
So many of us want to do everything ourselves and not spend a dime trying to get our credit
fix. But like I said in the beginning of this video, if you can get a great credit score,
you can get millions of dollars at least hundreds of thousands. You can start an airbnb business or
real estate business or photography business or videography or whatever it is that you want to do.
You can do a lot easier if you have good personal credit. So, stop thinking that you
can do everything yourself and spend a little bit of money having someone else do it for you. But in
the process, do not acknowledge the debt, do not answer their phone calls, do not make a payment
arrangement with them. Let a professional make the payment arrangement for you so that they can
negotiate getting it off of your credit report. If you have a professional help you and you want
to make a payment arrangement or pay off those debts, great! I get it. You probably should. I'm
not saying you should but fine. If you want to pay off those debts, great. But do not do it without
getting something for you. You don't want that stuff on your credit report. You didn't pay them,
fine, it's over. You don't want to carry that around for 7 or 10 years like some scarlet letter.
Who cares? Get a professional to help you if you want to pay them. And if you don't want to
pay them, that professional can still help you but let's get it off of your credit report so
that you can move on. So, I have written an entire book that I'm giving away to you absolutely free.
My new book Real Estate Millionaire Secrets is a book that I have poured my heart into and shares
all of the secrets and tips and resources that I have learned along the way. I teach you in this
book how to build a successful business and a real estate empire. It's absolutely free at
noellesfreebook.com. That's Noelle (n-o-e-l-l-e with an s), noellesfreebook.com. I want you to
check this out because I want to make sure that you have all of the resources, all of the tools,
and all of the knowledge that you need to be successful. This is Noelle. To your success.