The Difference between Credit Counseling and Credit Repair

                  If you ask anyone about both credit counseling and credit repair, everyone thinks that both services are the same. There is a difference between both services; credit repair is used to fix and help improve your credit score and help remove any fraudulent errors off your credit report, while credit counseling helps with your overall improvement of your credit score, budget planning, debt management plans and financial literacy.  Depending on your current financial or credit situation you could try both services or you could utilize one of the services.

             Credit counseling has been around for several decades.  With our services we put together specific plans geared toward your specific situation.  For example, let’s say you have a problem putting together short and long term financial goals. As a credit counseling service we help you create your short/long term financial goals and we work with you to get you to that destination.  Another feature that a credit counseling service provides is financial literacy being able to understand how a budget works. Budgeting is the most important when it comes to personal or business finance.  We work with both businesses and consumers in regards to these matters, most credit counseling services develop specialized plans to increase your cashflow and start saving.  If a consumer has a lot of credit card debt and high interest rates on their credit cards; credit counseling helps re-age( the accounts and lowers the interest rates on your credit cards so your payments can  be manageable.

                According to a CNN report and also 60 minutes, there are millions of Americans that have errors on their credit reports; this could be due to identity theft, old collection accounts that have passed the statue of limitations and etc.  The goal for a credit repair company is to remove these errors on your credit report.  Errors on credit score can lead to higher interest rates on your credit cards, mortgage, and could eventually lead to not landing that job you wanted.  Credit repair companies also have lawyers that fight on your behalf if there has been a violation to the FCRA (Fair Credit Reporting Act).

                  If you have any questions please give us a call at 732-201-3060 ext 101. Our Cashflow Team is available 7-days a week for your convenience. Cashflow can provide credit counseling services in our East Brunswick office, over the phone or at your house if your in the Monmouth, Middlesex and Ocean counties. 

Cashflow Credit Counseling and Collections

Our team is available 7-days a week for your convenience 

200 Rt. 18 

East Brunswick, NJ 08816

Phone : 732-201-3060 option #2

www.cashflowcci.com

www.facebook.com/Cashflow07734 or email us at info@cashflowcci.com

CASHFLOW WILL BE ON TOUR IN NJ, BE ON THE LOOKOUT :) 

The First Stop on the M.A.P to Success

The first stop on the M.A.P to Success is creating a budget and sticking to it. Unfortunately most people never get around to it for one reason or the other. It doesn't make a difference if you are living paycheck to paycheck or earning six figures, if you are living beyond your means you will never achieve financial peace of mind. Simply put, you need to know how much you bring home and how much goes out and on what on a monthly basis. 

A great website to use is Mint.com. It walks you through creating your budget step by step. Once you have your budget in place, sticking to it is the tough part.Think of it as a diet or a New Years resolution. We always start these with the best of intentions but usually become board or give in to temptation. The key to a sticking to your budget is setting periodic and long term goals  you want to achieve and rewarding your success along the way. One tip that has always helped me is to use cash for spending money as opposed to plastic. Most people seem to safeguard cash and spend it slower then using a card. If you must use a card maintain your receipts and use them to keep you checkbook balanced.

                                                         

Cashflow Credit Counseling specializes in helping individuals not only repair their credit but also can help you create a fool proof budget that you will enjoy sticking too. Often times it takes an outsider to look at things from a different perspective. People who come to us thinking they are stretched thin leave our session with capital freed up that they didnt even know they had. Our initial session is on the house. Give us a call at 732-201-3060 ext 101. You will be glad you did. If you have any questions or comments please add to the comment box below. 

Cashflow Credit Counseling and Collections

Our team is available 7-days a week for your convenience 

200 Rt. 18 

East Brunswick, NJ 08816

Phone : 732-201-3060 option #2

www.cashflowcci.com

www.facebook.com/Cashflow07734 or email us at info@cashflowcci.com

CASHFLOW WILL BE ON TOUR IN NJ, BE ON THE LOOKOUT :) 

Ways to improve your credit score

                             

We all know the importance of a good credit score.With that being said, we all know life happens and scores suffer the consequences. Here are some tips to get yours back on track. 

1. The first thing you want to do is review your credit report and have any errors removed. 

2. Keep your balances down well below your limit.

3. If you don't have a credit card get one. Don't fall for the myth that you have to carry a balance to have a good score. You don't and you shouldn't. However having and using a card or two can really build your score. If you can't qualify for a regular card consider a cured card that reports to all 3 bureaus.

4. The next thing we'd advise is to add an installment loan to the mix. You'll get the fastest improvement in your scores if you show you're responsible with both major kinds of credit: revolving (credit cards) and installment (personal loans, auto, mortgages and student loans. Make sure the loan is reported to the credit bureaus.

We can help you get your score to where it needs to be. There are no lost causes. We Specialize in credit counseling and debt management. Invest in your future and give us a call today.

Please comment and share the blog with others. 

Contact :

Cashflow Credit Counseling and Collections

200 Rt. 18 

East Brunswick, NJ 08816

Phone : 732-201-3060 option #2

www.cashflowcci.com

www.facebook.com/Cashflow07734 or email us at info@cashflowcci.com

Saddled with Student Loan Debt, Cashflow can help

                                 

With another group of graduates preparing to enter the workforce into a less than stellar jobs market, many parents are concerned about the hole these students have dug themselves into. Unfortunately, the bad news about student loan debt burdens keeps coming. The Education Sector recently highlighted a number of troubling trends, including:

From 1997 to 2012:

• The percent of graduates taking out loans increased from 42% to 62%,
• Median monthly loan payments as a percentage of monthly salary increased by 1.2% during this period. For the lowest income group of graduates, this figure increased from 13% to 34%,
• The percent of students paying more than 17% of their salary in student loan payments almost doubled to 19%.

In February, the Federal Reserve Bank of New York released new data showing the growth in student debt over the past decade. The Fed's data shows that nearly one in three student loan borrowers are more than 90 days behind on payments. This is a large increase from 2004.

There are many agencies that  can provide you with the expertise and experience to help qualify you for a student loan consolidation program or a student loan forgiveness program. Our specialists will work with you to find the program that best suits your current financial situation.

Don't wait another day to meet your student loan crisis head on. At CashFlow we work for the greater good. We know that people entering the economy with unmanageable debt repayment plans are unlikely to succeed. We would love the chance to sit down with you and point your future in the right direction: Full Steam Ahead!! Give us a call today!

Contact us through email, telephone or Facebook : 

CashFlow Credit Counseling and Collections LLC

200 Rt 18

East Brunswick NJ 08816

Email : info@cashflowcci.com

Facebook : www.facebook.com/Cashflow07734 

Telephone : 732-201-3060 option #2

Twitter : Cashflow07734 

Benefits of an Awesome Credit Score

                                          

Having a great credit score is a financial safety net that anyone, no matter their income can provide for themselves. It can help you save money and make your life much easier. Sure one  can certainly survive with bad credit, but it’s not always easy and definitely not cheap. If you need some inspiration to better your credit score or reasons that you should maintain your good credit rating, here are some great benefits to having a good credit score.

Low interest rates on credit cards and loans.                                                                  .


The interest rate is one of the costs you pay for borrowing money and, often, the interest rate you get is directly tied to your credit score. If you have a good credit score, you’ll almost always qualify for the best interest rates and you’ll pay lower finance charges on credit card balances and loans. The less money you pay on interest, the more you have for everything else including repaying your balance.




                                       

  

Better chance for credit card and loan approval.

With a shaky credit history, you’ll probably avoid making new credit card or loan applications because you fear you’ll be turned down. Having an excellent credit score doesn’t guarantee approval – because lenders still consider other factors, like your income and debt – but it does give you a very good probability of being approved. When you decide to apply for a credit card or loan, you can do it with confidence.

More negotiating power.

With a good credit score, you can often negotiate a lower interest rate on your credit card or a new loan, just by referencing your good credit score. If you need more bargaining power, you can cite great offers you’ve received from other companies based on your credit score. However, if you have a low credit score, creditors typically won’t budge on loan terms and you may not have the ability to shop around.

Get approved for higher limits.

Your borrowing capacity is based on your income and your credit score. With a good credit score, banks are willing to let you borrow more money because you’ve demonstrated that you pay back what you borrow on time. If you do get approved with a bad credit score, you’ll probably only be approved for a small amount, which may not be enough to accomplish your goal.

Easier approval for rental houses and apartments.

More landlords are using credit scores to screen tenants. A bad credit score, especially if it’s caused by a previous eviction or outstanding rental balance, can severely damage your chances at getting into an apartment. A good credit score saves you the time and hassle of finding a landlord who’ll overlook damaged credit.

Better car insurance rates.

Add car insurance providers to the list of companies that use a bad credit score against you. Insurance companies say that people with bad credit tend to file more claims and these people are penalized with a higher insurance premium. With a good credit score, you’ll pay less for insurance than similar applicants with lower credit scores.

Get a cell phone on contract with no security deposit.

Another drawback of having a bad credit score is that cell phone service providers may not give you a contract. Instead, you’ll have to choose one of those pay-as-you-go plans that have the more expensive phones. People with good credit avoid paying a security deposit and can get hundred-dollar discounts on the latest phones by signing a contract.

www.cashflowcci.com

Avoid security deposits on utilities.

These deposits are sometimes $100 to $200 and a huge inconvenience when you’re relocating. You may not be planning to move soon, but a natural disaster or other unforeseen circumstance could change your plans. A good credit score means you won’t have to pay a security deposit when you establish utility service in your name or to transfer service to another location.

Employment

    Fair or not many employers use credit scores in their screening process. The feeling is that a person with a better credit score takes better care of their responsibilities and is overall more trustworthy in the long run. Of course this is not always true, but why let a job hinge on this when it can easily be avoided?

Why not give yourself or a loved one  the gift of financial peace of mind. If credit counseling could benefit you or someone you know please don't hesitate to contact us.

Cashflow Credit Counseling and Collections 
200 Rt. 18 
East Brunswick, NJ 08816
Tel: 732-201-3060

M.A.P to Cashflow (M.A.P to Success The Series) - Money and Marriage

Hi My name is Ronald Laborde, President/CEO of Cashflow Credit Counseling and Collections. I personally want to talk about your credit. Currently young people have been bogged down with high unemployment rates, low income, and also low credit scores. The average student leaves college with at least 25k in student loans. Younger individuals between the ages of 25-34 have an average credit score 650. If you are looking to get married young, there is a possibility that you will be marrying debt and most importantly a low credit score.

www.cashflowcci.com




Here the best ways to get yourself back on financial track:

1. Make sure you develop individual goals and team goals to assess your credit and also your spending patterns. (if you need help please give me a call at my office or come by to the East Brunswick, NJ office).. Transcribe all your debts using a budget planning sheet or Mint.com
2. Another factor that is critical in decreasing your debt load and increasing your credit is to make sure you stick to your plan (I’ve created a six month plan to help you stick to your budget.
3. Work together as a team and communicate your agenda
4. I also recommend using www.creditKarma.com or www.creditsesame.com
4. Have fun, it’s not the end of the world..



If you would like more information in regards to credit please check out and like my facebook page: www.facebook.com/Cashflow07734 or better yet let’s talk about ways we can get you back on financial track.

Stay tuned for the next blog: M.A.P To Success: The Credit Counseling Series: Benefits of An Awesome Credit Score…

Contact:

Cashflow Credit Counseling and Collections
200 Rt.18
East Brunswick,NJ 08861
Phone Number : 732-201-3060