If you have poor credit lenders may tell a dealer to install a GPS tracking device & kill switch to keep you from starting the car. If you're past due they know where the car is-You can't start it-they can grab it! They MUST tell you these devices are installed but often don't!

If you pay cash and don't take out a mortgage to buy your home, it will trigger a review & probably an audit of your taxes by the IRS!

It's nuts! People go to sites for lenders like CapitalOne & 3rd parties like CreditKarma to get get free credit scores. They both provide Vantage Scores. Yet, CapitalOne uses FICO scores to make credit decisions. DO NOT rely on Vantage scores. ZERO, Nada, No lender uses Vantage!

Being one payment past due won't affect your credit score. Scores are based on your credit report. The first negative note on a report is '30'. 30 means you're 2 payments behind. Credit bureaus do NOT have a way for creditors to report a payment that's only 1-29 days past due.

So called experts say it's ok to use 30% of your available credit. IT'S NOT!!
I NEVER tell anyone to do anything I haven't. So I tested the 30% theory & used 28%. My score dropped 64 points! Circled below-WHAT's HURTING MY SCORE? Utilization is too High! RickMansfield.com

Thanks AA!

CREDIT FREEZES & ALERTS- What's the difference? Alerts require identity verification before opening new credit. Lenders may call you. Freezes stop credit report access if you apply for credit. Neither stops collection agencies or current creditors from viewing or reporting.

Many student loan borrowers with federal loans may receive full student cancellation or more credit towards cancellation You must act by April 30. Most federally held student loans will receive an automatic adjustment, but borrowers with these types of loans must consolidate

I'm the only author of a book on cleaning up your credit who:
Owned a collection agency
VP of the collection dept. at a bank
Intentionally destroyed my credit to prove what I knew in theory can actually be done!
I NEVER recommend you do anything I haven't.
RickMansfield.com

Do you have to sue collection agencies to get them off your credit report? No. there are other ways to do it. But it's nice to make a few bucks in the process. Plus it's better to sue them before they sue you. Contact me or get my How to Book at RickMansfield.com

HOW to Establish BUSINESS CREDIT
Initially your personal credit will be key-You'll be guaranteeing everything-To stop the guarantees you'll be required to incorporate (LLC, Inc, or similar) have a business plan, a business checking account at their bank & an EIN filed with the

Little known fact abt credit scores. If you have great credit (740+) the least damaging negative like 30 days past due will lower your score 60-80 points. If you have weak credit (below 600) horrible events like charge-offs/repo/foreclosure will only ding you by about 20 points.

Great job Mr. Montgomery. Those scores are rare!

INCREASE A GREAT CREDIT SCORE!
You pay your credit card in full every month-yet a balance appears on your credit report. Here's why. The report date for the card may be different from the due date. Call the card issuer-Find out the report date. Pay it off before the report date!

Thank you Ms. Campbell. I appreciate your kind words!

BE AWARE! If you took advantage of a promotion advertised as 'Interest FREE for 12 months' or similar here's the catch-They calculate interest til the loan is paid-then waive it. If you're a day late on one payment they immediately add all the interest & interest until it's paid!

Here's a workaround so you don't get killed by the cost of credit card cash advances. Use the card for things you'd normally pay from your income, like a mortgage-rent-food-car repairs-etc. Then use the cash you would have spent instead of a cash advance. RickMansfield.com

DONT MIX-UP what I do with Debt Settlement Companies-I don't settle debts-I get debts wiped out & removed from your credit report WITHOUT paying creditors a dime! Freedom Debt Relief says-Your credit will be worse-You may get sued & balances may be higher! RickMansfield.com