Jump to content

Credit Education Seminar. Trying to make a difference!


onlybrad
 Share

Recommended Posts

I have been chosen to do a Credit Seminars for a group of people in less than a month.

I have listed out the outline I have so far. Please let me know if there is anything I should add...

1. We are going to pull reports on the spot for people and go over what everything means.

2. Show them how to correct errors on their reports.

3. We are going to explain how the Credit Score is calculated.

4. Provide a step by step plan to raise your credit scores to 700+

5. The difference between: Credit Restoration, Debt Settlement, Debt Consolidation, Debt Management & Bankruptcy.

6. How to settle debts.

7. Your rights as a consumer.

8. How to locate the best loan based on your credit score when you purchase a car and/or house

9. How to protect against ID Theft.

10. Provide Spending Plan forms(budget)

I think #10 is foundational! Let's face it... I think that is why most people get into trouble because they don't plan out their financies. According to SBA, 67% of business go out of business because they didn't have a business plan. How is your family any difference than a business? We must plan. A spending plan tells your money where it is going. Plus it includes other important factors like building up a $1000 emergency fund and so forth. I will provide a comparable spending plan to www.crown.org and/or daveramsey.com

College and high school kids are really on my heart as well. We parish for a lack of knowledge! I think we can turn this country around with proper education!

Any help is welcome!!!

Thanks,

Brad

Link to comment
Share on other sites

I really love Dave Ramsey. I have attended to live seminars and went through FPU. Now, I know I am still having problems with spending and budget and emergency fund and, on and on and on but I do know that he has about the best plan out there. Crown is good too. I think if you stick to what you have and Dave's plan, you'll be ok.

Are you one of his certified couselors?

Link to comment
Share on other sites

I really love Dave Ramsey. I have attended to live seminars and went through FPU. Now, I know I am still having problems with spending and budget and emergency fund and, on and on and on but I do know that he has about the best plan out there. Crown is good too. I think if you stick to what you have and Dave's plan, you'll be ok.

Are you one of his certified couselors?

No...

I like Dave Ramsey but I know there is a balance...

He has helped a lot of people and has been a blessing to many. Although you preaches total against credit and I feel there is a balance between the two...

He states, that a credit score is a debt score. Which is far from the truth. The more debt you have the lower your credit score is...

I'm teaching people some of the same princlipes Dave and Crown.org are teaching which are not new... The are biblical and have been in the bible for years!

Most women hate the word budget! While I will teach people to use a spending plan which is the same thing... Do you think you wife would rather hear, "Hay, honey let's work on our spending plan this weekend" or Hay, honey let's work on that budget this weekend? Everybody likes to spend but most people don't like to budget but their the same thing... So I'm just taking a difference approach.

God has opened some big doors for me recently. I have been chosen to speak about credit at one of the biggest churches in Texas. I got the call 2 days after we recieved the INC paperwork from the state of Oklahoma which was pretty cool.

I think that people get ripped off everyday by car lots because they are not aware of how their credit scores determine their interest rates. So I'm going to explain that as well and how to get the best interest rate based on your credit score.

Any comments are welcome,

Brad

Link to comment
Share on other sites

Topics look great! Just a few Q's....

Are you splitting the classes up? How long is each? You're throwing a lot of information at them at once that you're going to have to explain before you can move on.

If you give them too much, you'll lose them, then you've defeated everything you set out to do...

Link to comment
Share on other sites

You're not including a pitch for some random MLM group into your "credit seminar" are you? ;)

Years ago a church near me did what they thought was something similar, and it turned out it was someone pitching the MLM that starts with A and sells soap.

Budget has rather nasty connotations, thanks to the marketing industry. Budgets are nothing more than spending plans, but advertising has associated "budget" with "cheap" and "crap you buy at W*M". I like your use of the term "spending plan".

I would put in the dangers of #5 and STRESS those dangers. You might PM kristy for permission to use the flowchart.

Link to comment
Share on other sites

Another thing is teaching people to research things before they do them. This is something I wish I'd learned earlier, because not knowing certain things harmed my credit repair efforts.

Things like not applying willy-nilly for cards without checking into things like: What CRA do they pull? What are their acceptance parameters? Am I likely to be accepted? What should I check and attempt to fix in my reports BEFORE I apply? Uneducated consumers pile up unnecessary inquiries that could have been avoided if they'd done their research.

Also, they need to know that "a zillion inquiries within 30 days counts as only one" DOES NOT APPLY TO CREDIT CARDS!!

Link to comment
Share on other sites

Topics look great! Just a few Q's....

Are you splitting the classes up? How long is each? You're throwing a lot of information at them at once that you're going to have to explain before you can move on.

If you give them too much, you'll lose them, then you've defeated everything you set out to do...

I will touch on everything briefly and major things I will go into detail. I will also have a manual include which will go into greater detail.

Thanks for your input. Anything else is welcome...

Brad

Link to comment
Share on other sites

You're not including a pitch for some random MLM group into your "credit seminar" are you? ;)

Years ago a church near me did what they thought was something similar, and it turned out it was someone pitching the MLM that starts with A and sells soap.

Budget has rather nasty connotations, thanks to the marketing industry. Budgets are nothing more than spending plans, but advertising has associated "budget" with "cheap" and "crap you buy at W*M". I like your use of the term "spending plan".

I would put in the dangers of #5 and STRESS those dangers. You might PM kristy for permission to use the flowchart.

No MLM included this is all credit education. Could we sell some soap? :D

Yes, I'm going to go into #5 in depth and stress the dangers of how each ones of those outfits make money and how it affects your credit and how you can do it yourself. Is that what you mean?

What flow chart are you talking about?

Your input in greatly welcome...

Brad

Link to comment
Share on other sites

Another thing is teaching people to research things before they do them. This is something I wish I'd learned earlier, because not knowing certain things harmed my credit repair efforts.

Things like not applying willy-nilly for cards without checking into things like: What CRA do they pull? What are their acceptance parameters? Am I likely to be accepted? What should I check and attempt to fix in my reports BEFORE I apply? Uneducated consumers pile up unnecessary inquiries that could have been avoided if they'd done their research.

Also, they need to know that "a zillion inquiries within 30 days counts as only one" DOES NOT APPLY TO CREDIT CARDS!!

Great input!!! Yes, I'm going to provide requirements to be accepted and how important it is to apply with a credit card that reports to all 3 bureaus.

Getting copy of credit reports and correcting errors and doing all the improve your credit score factors is #1 before they start appling for credit cards. Is that what you mean?

A zillion inquires within a 30 days period only applies to cars and home mortgages NOT credit cards. I think it is 14-15days instead of 30 right? That's an awesome point and I will include in presentation...

Everybodies input is very important and will be included in our credit education.

Brad

Link to comment
Share on other sites

You're not including a pitch for some random MLM group into your "credit seminar" are you? ;)

Years ago a church near me did what they thought was something similar, and it turned out it was someone pitching the MLM that starts with A and sells soap.

Budget has rather nasty connotations, thanks to the marketing industry. Budgets are nothing more than spending plans, but advertising has associated "budget" with "cheap" and "crap you buy at W*M". I like your use of the term "spending plan".

I would put in the dangers of #5 and STRESS those dangers. You might PM kristy for permission to use the flowchart.

No MLM included this is all credit education. Could we sell some soap? :D

Yes, I'm going to go into #5 in depth and stress the dangers of how each ones of those outfits make money and how it affects your credit and how you can do it yourself. Is that what you mean?

What flow chart are you talking about?

Your input in greatly welcome...

Brad

http://www.creditinfocenter.com/rebuild/debt_validation_workflow.shtml

Remember that's copyrighted to Kristy so ask her before using in your business

Link to comment
Share on other sites

And while we're on the subject, ALL CONSUMERS need to be made aware of the dangers of Capital One's reporting methods... not reporting credit limits. Many of us found our scores in the toilet before we realized why. Utilization counts, and Capital One totally skews it. Mine was 5% in reality, but not realizing my limit wasn't being factored in was showing me at 76%. Takes a while to claw back from the long-term damage done by that.

Do a search on this site for good examples and full reasoning for avoiding Capital One.

Link to comment
Share on other sites

And while we're on the subject, ALL CONSUMERS need to be made aware of the dangers of Capital One's reporting methods... not reporting credit limits. Many of us found our scores in the toilet before we realized why. Utilization counts, and Capital One totally skews it. Mine was 5% in reality, but not realizing my limit wasn't being factored in was showing me at 76%. Takes a while to claw back from the long-term damage done by that.

Do a search on this site for good examples and full reasoning for avoiding Capital One.

And avoid Citibank too because their stock is held by anti-Christian terrorists.

Link to comment
Share on other sites

I think what you are doing is a WONDERFUL idea... the more awareness, the better :)

I think everything looks great and with the exception of a couple small comments made int his thread... everyone's suggests seem very sound :)

Please let us know how it goes and what the response is.

Link to comment
Share on other sites

And while we're on the subject, ALL CONSUMERS need to be made aware of the dangers of Capital One's reporting methods... not reporting credit limits. Many of us found our scores in the toilet before we realized why. Utilization counts, and Capital One totally skews it. Mine was 5% in reality, but not realizing my limit wasn't being factored in was showing me at 76%. Takes a while to claw back from the long-term damage done by that.

Do a search on this site for good examples and full reasoning for avoiding Capital One.

Who else don't report credit limits?

Brad

Link to comment
Share on other sites

For some odd reason, the Target Guest Card does not report limits to Equifax (but do to the other bureaus).

Capital One is the worst offender because so many people with borderline credit get Capital One cards. They target these people, then sink them deeper into trouble by lowering their scores and keeping them subprime. It's disgusting.

Link to comment
Share on other sites

For some odd reason, the Target Guest Card does not report limits to Equifax (but do to the other bureaus).

Capital One is the worst offender because so many people with borderline credit get Capital One cards. They target these people, then sink them deeper into trouble by lowering their scores and keeping them subprime. It's disgusting.

Because they don't report the limit right?

That's what your referring to right?

Brad

Link to comment
Share on other sites

And while we're on the subject, ALL CONSUMERS need to be made aware of the dangers of Capital One's reporting methods... not reporting credit limits. Many of us found our scores in the toilet before we realized why. Utilization counts, and Capital One totally skews it. Mine was 5% in reality, but not realizing my limit wasn't being factored in was showing me at 76%. Takes a while to claw back from the long-term damage done by that.

Do a search on this site for good examples and full reasoning for avoiding Capital One.

So it's shows like you are maxed out with that card?

Brad

Link to comment
Share on other sites

Say you have a $1000 limit. You've only ever charged $100 on the card. Capital One reports your "high balance," but not your limit. The scoring model uses that high balance--in this case $100--as a proxy for the limit. So your credit score factors in a $100 limit for utilization purposes.

You go hog-wild one day and spend $80. You think you're doing OK because your limit is $1000. But FICO sees you as almost maxed out, at 80% utilization on the card, because your limit, to them, is $100. Down the toilet goes your score.

The average consumer does not know this. And they should.

Link to comment
Share on other sites

Say you have a $1000 limit. You've only ever charged $100 on the card. Capital One reports your "high balance," but not your limit. The scoring model uses that high balance--in this case $100--as a proxy for the limit. So your credit score factors in a $100 limit for utilization purposes.

You go hog-wild one day and spend $80. You think you're doing OK because your limit is $1000. But FICO sees you as almost maxed out, at 80% utilization on the card, because your limit, to them, is $100. Down the toilet goes your score.

The average consumer does not know this. And they should.

Thanks for you input you are very knowledgeable...

God Bless,

Brad

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.