Never pay collections or charge-offs.
Did you hear me? Let me say that again. Do you have bad credit and you're trying to fix it?
Well, we are not going to be paying any collections or any charge-offs but we are
still going to fix your credit in a major way. I'm going to show you how. Let's go.
So, let's talk about credit because this is so important I know so many people
want great personal credit. I literally started off with very, very bad credit. I'm talking 520 or
something score like that. I literally started off like in this credit game and learning about this
in my parents' basement, okay? I was a dejected, bankrupt, broke person investing in real estate
doing some wholesaling from my parents' basement and I now have a credit score over 800. So,
this is very easy to do and I'm going to tell you exactly how to do it and share with you
some of the mistakes that I made along the way so that you don't make those same mistakes. So,
when it comes to personal credit, you know that you have 3 credit bureaus. There's Equifax,
there's Experian and there's Transunion. And when it comes to personal credit, you have those 3
bureaus and they will report all of the different debts that you have. So, if you have auto loans or
if you have credit cards, if you have student loans, if you have mortgages; those will all
report on your personal credit report as trade lines. And depending on how well you pay them,
if you pay things on time, how long you've had the accounts, you will have a credit score. In
most cases, we call it a FICO score. If you want to find out what your fico score is or access that
for a very cheap price, I'll make sure to put a link below to MyFico. But the important thing when
it comes to personal credit that you need to know is that you can affect your credit score really
easily and you do not have to be a victim of the score that they have given you. That was probably
the biggest thing. I thought that I had a very low credit score and I literally didn't do anything to
fix it until many many months and years later when I could have just started fixing it immediately.
I felt like, "Well, I have bad credit. I got foreclosures. I got a bankruptcy. I got bad
credit. I just have to have bad credit." And I'm sure you probably have those same things. But it
is not true at all. You literally can clean up your credit report in a matter of weeks
and I'm going to tell you some secrets on why and how you can get it done without spending any
money in the process. So, let's talk about what affects your credit score like I said, we all
have trade lines and all of the different trades and things that people have given you will report
on your credit report. But there are different things that affect your credit score. And this is
very important for you to know. So, of course, you have different trade lines. If you have auto loan,
that is considered an installment type of loan. But if you have a credit card for example, that is
considered a revolving type of account because the amount is variable and it is a revolving account.
And then you have mortgages. That is a different type of account. A mortgage is a mortgage it is
different from a revolving or an installment account. So, you want to have a different mix
of the different types of accounts that you have. You want to have a car loan. I know some people
are afraid of debt and they don't want any debts and they don't want a car loan. But if you want
to have a good personal credit score, you probably should take out a car loan at some point in time.
You probably should borrow money and buy a house if you want to have a good credit score. So,
the bottom line to it is you want to make sure that you know what affects your credit score.
And the different types of accounts are one of the things that affects your credit score. The next
thing that affects it is how well you pay those trade lines, how well you pay those accounts.
Do you pay them late? Do you pay them on time? Do you pay them 30 days later? You pay them 60
days later? 90 days late? That's going to be a big factor in your credit score. How much
of the credit you use? So again, what type of accounts? How well you pay them? And then what
the balance is to the amount that they gave you --the limit. That's going to affect your credit
score. That's called your debt utilization rate. And then you have debt ratio. So, credit bureaus,
they're very smart now. All this AI, artificial intelligence. They can predict about how much
money you make just based on some factors. And so, they actually kind of do a simulated debt ratio of
how much money they think you make based on how much debt you have on your credit report. And so,
that will affect your credit score too. So, let me give you all the secrets to how you
actually maneuver this with this information because I have some good info for you guys. So,
if you're watching this video, I'm assuming you probably have some bad credit issues. Kind of like
how I have where you have some collections or you have some charge-offs. So, let me quickly tell you
the difference though between a collection and a charge-off. So, say for example you have a credit
card, let's just use Capital One for example because I literally this was my situation. I'm
just going to use me. I'm not gonna use anybody else. I had a Capital One credit card, you know,
in like 2002 or whatever they gave it to me when I was like you know 21 years old or whatever.
And I like did use... I used it and then when I didn't pay it, they would call me all the
time and you know, I didn't have the money so I didn't answer the phone. And then eventually,
they sent it to collections, okay? And that is after they what we call "charged it off". So,
the company itself, okay? The Capital One company, they will keep calling me, keep calling me and
trying to get that money. Eventually, if I don't pay them after you know 4 months or 5 months or 6
months... Every lender has their own guidelines on how long they'll try to contact you and get money
before they charge it off. Meaning before they're like, "Okay, this is not collectible.
Noelle is a deadbeat, she's not going to pay us. Let's just go ahead and let's just
charge it off." And so what they do is they say, "You know what? She's not giving us that $300.
We're writing it off. It's a loss. Okay?" And then they send it to collections, okay?
So, there's collection companies and collection agencies. Probably you guys know what I'm talking
about and they will call you on old credit card bills and old cell phone bills and all this other
stuff and try to get money from you. And the thing about it is you really need to understand this
game because it is so important. They literally bought that debt for pennies on the dollar,
okay? Collection agencies buy charged-off debt. And then any of the money that they collect, they
get to keep okay so once it's charged off they bought the debt and if they bought it for $15 like
on a credit card like say you charged off $300, they probably bought that debt for like 10 bucks,
just being honest with you. So, if even if they got 20 from you, they got more than they would
have gotten. But let me tell you the secret to the game because I need you to understand those 2
things. And now, I'm going to give you the secret sauce on how you maneuver through all of it.
So, before I get into that secret sauce. This is an awesome time. If you are loving this content,
please make sure you smash that like button, and please share this video with anyone that you think
this content could be useful for. I want to make sure I'm helping as many people as possible so get
to sharing. So now that you know the difference between collections and charge-offs and then kind
of what happens you know they charge the debt off and then they send it to a collections agency and
then that agency is essentially a new debtor, okay? Because they have purchased that debt. So,
here's the secret on how you maneuver this. Okay, guys? And this is from real-world experience. Not
only for my own bad personal credit but for me being a vice president at some of the largest
banks, okay? And working in mortgage and finance. I know this stuff. I'm not just telling you...
Additionally, I have a master's degree in economics from Penn State
and I have an MBA from baylor. Alright? So, I'm not just telling y'all stuff. Noelle knows this
stuff in and out. The lender that has charged you off or has you know put you in collections,
they have the burden of proof, guys. Okay? So, now that they have reported this to your
credit report, alright? And this is on your credit report. You can dispute those things and they have
to prove that it's you. And the key to this is you don't have to actually ever say that it's you.
So, when they call you on the phone, the collection agency is calling like, "Hey,
I have this Capital One bill and you didn't pay then this that any other car. Speak to Noelle."
I'm sorry, you have the wrong number. *Click* And I hang up. I don't even talk to them, okay? I do
not ever admit that it's me. I don't have to admit that that's my credit card. I don't have to admit
anything. The burden of proof is on them. So, the key that you want to make sure that you are
doing and you do not fall into this trap, do not confirm it's you. Do not confirm the debt.
Do not start making payments. Or if they say... You know, because they're calling you,
they want to harass you because they want you to pay them... Remember, they bought that debt. So,
this collection agency, that's their entire job is to collect money from you. So, they'll call you
every single day. They don't care and that's their business. And it's up to you to know this rule.
So, I'm telling you something that most people in the world do not know. Don't answer their calls,
do not admit to the debt, do not do any of those things, okay? Because what you are doing,
unfortunately, if you do admit and you get on that recorded line because they always call you
from a recorded line, right? Am I right? I know click that little... Let me get some comments
below. How many have gotten that call you're on a recorded line? "Yeah, okay. Bye." I'm hanging up.
Do not talk to them on that recorded line because now they have you. So, if you're trying to fix
your credit and you have these situations the last thing that you want to do is say, "Yeah, I did it
it's me and I didn't pay." Because at that point, now we don't have the wiggle room. And of course,
Noelle is not a lawyer. I told you all those degrees I have. I never told you I was a lawyer.
So, you know you can talk to your attorney. But I know the laws. And the law is they have the burden
of proof and I also know the law is you would have to admit and confirm that that debt is yours.
And I am telling you unequivocally, you don't have to do that. Okay. Because I am cooking now. I am
loving this content. And I am like... Because this is amazing. I wish people had told me this. That's
what I'm telling you, guys. Okay? So, I'm telling you, alight? So, instead of actually paying those
collections and debts, here's my promise, here's what I'm telling you you should do instead.
You can get those things removed. You can actually take the time and you can put in letters and you
can get those things removed from your credit report. Alright? And I'm actually going to put
a link below to kind of help you with some of that. And then I'm actually even have a whole
video that I've made. I'll make sure I'll put a link to that on how to get these things removed
with some letters, with some templates so that you can use. So, I'm giving you everything that
you need, okay? But if you don't have the time to do this and you instead of paying that company for
that old debt, you would be better off to pay a credit restoration company instead of paying that,
okay? I literally have paid for credit restoration. And I'm not talking about credit
repair. That's something different. And again, I have a great credit restoration company called
creative credit solutions. Again, I'm not being paid any money for this. This is just a company
I've used. He's a good friend of mine that owns the company, Justin. And he's amazing and he's
helped lots of people, lots of my clients, and he has helped me, okay? So, you want to make
sure if you have issues or if you're wanting to pay a little bit of money to settle these debts
instead of selling, giving them that money, you can give it to a company and they can get all of
this cleaned up and get you a really good credit score fast. So, there you have it. You will never
pay collections or charge offs ever again. You now have the information you know what to do. If you
have any questions with this size, you can always call my office. Our phone number is 888-479-4542.
Again, I do not do credit repair neither does my company. However, if you have questions or you
need access to resources, my company, we are here to help you and we will refer you to a company
that we have used and that we have trust if you need help with this. Additionally, you should
not spend a lot of money on this. So, I'm going to tell you about companies that are very affordable
with that I know that they were effective and affordable. So, if you need that help,
888-479-4542. Again, I just want to make sure you have all of the knowledge, all of the tools,
and all the resources that you need to be successful. This is Noelle. To your success.