Category

Consumer Rights

What’s In Your Wallet?

By | Collection Defense, Consumer Rights | No Comments

It’s time for the yearly check up. So, what’s in your wallet? Or more aptly, in your credit reports?

Improve Your Credit Score! As of 2015, according to FICO, the national average credit score in the U.S. is 630. Credit scores can go up to 900 and a score of 750+ is ideal. If your credit score can stand to be improved, talk to a professional that can analyze your credit reports and guide you in what actions to take to start improving your score. The credit score affects all aspects of life such as interest rates, credit limit, renting, insurance quotes, employment etc. Most credit reports have errors in them that can be fixed to boost the score.

I recently met with a top executive at Regions Bank who explained some of their financial programs to me. Their secured credit line program got my attention. Very few banks offer this program and the few that do, require a hefty initial deposit to open the account. At Regions, one can be opened for under $300! This is an excellent way to rehab credit rating because Regions reports monthly to the credit bureaus which quickly improves the score.

For more information on how to take advantage of this program, contact Bill Ownbey at 512.250.2242 William.Ownbey@regions.com

BONUS SUGGESTION: Draft or Update Your Will! The idea of a will may seem far-fetched and even a little morbid, especially when we are feeling healthy. You may say; “I am too young”; or “I don’t own any assets that can be put in a will.” You owe it to your loved ones and things get very messy and expensive when there is no will. A basic will provides for expenses, lists an executor or personal administrator, and provides for specific distribution of real and personal property. It will also appoint a guardian for minor children. You may also want to appoint a power of attorney for medical or other reasons. It always makes it easier for loved ones left behind to sort things out. Make sure to consult an attorney for more information on getting a Will drafted in 2016.

Let’s make it a good year!