Secrets to Good Credit and Debt Reduction: A Consumer Self-Help Guide

Book Description
This simple,easy to read book shares mortgage banker D.J. Williams formulas for securing or restoring good credit, getting out of debt and gives all the reasons why good credit and low debt is a must in today's society. With this remarkable consumer self-help guide, you'll learn: The basics of understanding the system including how to read your credit report, scoring, and knowing your rights. How to establish a good credit rating and restore a poor one. Your rights when dealing with collection agencies and credit repair organizations. Methods of getting out of debt and strategies for debt reduction. How to survive the home loan process-stress free. How to control your financial destiny in 15 easy-to-read chapters. Good credit is a necessity rather than an option. Here you'll discover proven ways to achieve financial security and freedom. You can attain, maintain, and retain good credit. Buy an extra copy for someone you know who is just starting out, considering bankruptcy, or in bondage from too much debt.

From the Publisher
We published this book because we feel access to credit is a good thing. Millions of Americans are denied apartments, homes,insurance and employment due to a low credit score or a poor credit rating. The Secrets to Good Credit and Debt Reduction will show the reader how to turn this around. The wise use of credit and low debt will take you a long way in this society. This book is simple, easy to read and will provide quick results.

From the Inside Flap
This consumer self-help guide is a result of many years of experience, education, and blessings. As you read it, consider it a journey of discovery toward your financial well being. Creating new habits is the key to accomplishing this goal. For thirteen years my career which was also my research, has been in real estate finance. I worked for regional banking institutions and national mortgage companies. I have a Bachelor of Science degree in education and a Master's of Business Administration. My mother and my grandparents were entrepreneurs, and I have always had a natural curiosity about how people relate to money. For as long as I can remember I have always wanted to be a teacher. Writing this book is a realization for me that teachers are not just in traditional classrooms. Teachers are everywhere. Several months after I started my career in real estate finance, it occured to me there was a tremendous need for financial and credit education, and if I was going to be successful, I had to be a good salesperson and a great teacher. I also realized the information I taught made a difference in the lives of people long after our business relationship had ended. Writing this book was a complete labor of love that gives me the opportunity to share vital knowledge to help you achieve your financial goals with ease. I know it is a cliche' but knowledge is power! I have been blessed with the opportunity to participate in the lives of many peoples in the quest to realize their dreams of homeownership. I have learned some valuable lessons. The most important one is that success and failure are relative. I have seen people emotionally devasted because they were denied the opportunity to purchase what they considered the only home for them. Later they discovered what they thought was a set back was an opportunity for growth and the acquisition of benefits that could last a lifetime. This is success!I've encountered a wide variety of people and circumstances. I have hundreds of success stories. One story in particular that stays with me is of a woman in her forties who applied for a loan to purchase her first home. We established a friendship right away. She had some financial and credit problems that she did not realize would stop her from being able to borrow the money she needed to purchase the house. Before her loan package was submitted for a decision, we met and I pointed out the strengths and weakness of the loan package. I discussed with her what needed to be done and how to strengthen her weaknesses. We prayed for a miracle.Her loan was denied. I called her at home with the bad news. She was not surprised. She said to me, "I know exactly what I need to do. You have shared information with me that I never knew. Don't worry. I'll be back." She did exactly what she said she was going to do. She reestablished a good credit rating, organized her finances, came back as an "A" customer, and borrowed the money she needed to purchase a home. Seven years later she called to make an appointment. Her property had appreciated significantly with the improvements she had made. She was selling it and buying another. With her excellent credit history, little debt, and money to make a nice down payment, she easily qualified. I was pleased to see her achieve her financial goals with ease. She said to me, "You taught me well, I feel free. I just wish I had learned the value of the wise use of credit earlier in my life."Current lending practices and the kind of story you just read inspired me and ultimately led me to write this book. As you travel through this book, spend time at each section and understand the importance of your journey. Make stops that best suit your situation. If you have good credit, and too much debt, go directly to Part III Getting Out of Debt. If you have a bad credit history, stop off at chapter 8, Credit Problems Are Not Okay. Then go directly to Part II, Establishing a Good Ceredit Rating. If you have never had credit, pay particular attention to Chapter 9,How to Establish Credit. If you are thinking about purchasing a home go to Part IV, Credit and Purchasing a Home. Good luck! And remember good credit is not an option-it's a must!

About the Author
D. J. Williams spent more that a dozen years in the mortgage finance business, as a sales manager, assistant vice president, and senior loan officer at several national financial corporations. Concerned with the decline of creditworthy applicants and current lending trends. D. J. Williams wanted to put out an information brochure and started writing and could not stop. "There was so much information consumers need to know such as how credit scoring is effecting lending, insurance and employment decisions." She now keeps busy writing, publishing and marketing credit education books and related materials.

Excerpted from The Secrets to Good Credit and Debt Reduction : A Consumer Self Help Guide by D. J. Williams. Copyright © 2001. Reprinted by permission. All rights reserved.
How to Use This Book Congratulations! You have made the first step toward financial freedom. A good credit rating is your most valuable asset. Without good credit, legally you can be charged higher interest rates for your home and automobile purchases. Without good credit, you may pay more or are denied major purchases, employment opportunities, apartments, and insurance for yourself and your family. A home, employment, insurance, automobiles, furniture, appliances, and so forth are essential to living a balanced life. With a bad credit rating, you can be denied these essentials. A bad credit rating negatively affects the financial lives of families and individuals. It is very important that you understand how credit affects your life and why it is so important that you do not have bad credit. This book is designed to give you a broad and basic knowledge of credit and debt. You can expect to learn how credit and debt affect your choices and overall attitudes, and how to establish and maintain a good credit rating. The chapters are brief for easy reading. There is plenty of space for note taking. Discuss the book with your family, friends, and coworkers. Give is as a gift to others who are just starting out, experiencing credit problems, have filed bankruptcy, or are in bondage with too much debt. You will encounter many detours on the raod to discovering good credit. This book will help you make informed decisions. To prepare for this journey you must do two things:First, read the Terms You Need to Know section in the back of the book. Second, order your credit report from each of the three major credit-reporting agencies (see page 55). It is important that you have your credit reports in front of you while you make this journey. To be able to actually look at your credit report while you go through this book will help you tremendously. Part I of this book was designed to increase your knowledge of the credit system and the role credit plays in your life. After reading Part I you should be able to do the following:Understand the credit systemRead a credit reportUnderstand credit scoring and how it's usedKnow your rights as a consumerUnderstand why credit problems are not okayParts II and III are designed as workbooks to guide you through the following processes:Establishing creditRepairing and updating your credit reportDealing effectively with collection agenciesand credit repair companiesGetting out of debt Part IV will help take the mystery out of applying for a loan to purchase a home. Knowing what to expect and being prepared is 90 percent of what you need to take the stress out of the loan process. If you are willing to make a commitment to yourself and to getting your credit in order, you will soon experience financial freedom that will last a lifetime.


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