Moving forward, so, if there's anything, you want me to make a video on feel free to drop it in the comments down below i'd, be stoked to do so. Yo yo yo get this unmuted. What's up everyone what's up here, did i unmute myself? Yeah, don't forget to immediate yourself here: oh there we go yep a muted, yo, yo yo, all right. Everyone welcome to uh.

First, live stream on this channel um, first off pierre thanks for uh, thanks for taking some time out of your sunday to uh to swing on by and go over uh credit. You know both love talking about credit yup. This is exciting stuff. You know i'm really excited to be here.

Thank you for uh, thank you for having me yeah. So for anyone who doesn't know um, who pierre's pierre kind of runs, his own credit repair company, um newton, consulting, i left a little logo right there um and he has some really great work. Pier and i have worked together in the past and and there's a lot of great content on my channel for uh fixing credit and a bunch of good credit strategies to kind of get your credit improved and anything. That's kind of a little more intense knowledge than um.

Our guys just say anything. That's kind of over my pay grade typically comes from pierre. I usually kind of get with him and and figure out what he's doing with his clients to get. You know.

Higher credit scores um and what kind of tricks and tips he's using and then i kind of bring them on youtube. So a lot of the good stuff that i do make content on is actually all thanks to pierre. So um figured let's get. Let's get live.

Let's get talking credit and i know credit's always changing so um. You know you're in the thick of it every day, like i'm doing mortgages and i'm i'm working on on some people's credit, making sure that they can qualify for a home. But i'm not i'm not really like in it, i'm kind of on that that 10 000 foot - you know couple little things here and there, let's get someone's credit up to where it needs to be, but um, but but you're the real pro you're, the real pro Um i appreciate that john i mean, i think our our worlds are very blended um. I think you know the real estate um investments, the loan offices.

I think it's it's blended with the credit you know, um. I see profiles from the low 400s. 500S um. You know, clients that need help with you know clearing up some some negative things on their reports and just helping people overall build their credit score um, i think uh, you know, like you, said, um a lot of times.

People don't know. What's on their credit um and that's where we come in and help them out, yeah, yeah and so um, just so everyone kind of knows. I mean the big reason why i've kind of gotten into credit a little bit is because, obviously to get a mortgage, you need to have decent credit. And typically, you know if you've got under a 500 credit score.

You you can't get a mortgage at all um, but most people will say above a 580. and so typically when someone's close i'll see. If i can kind of um, do a couple little things here and there. But we bring in pierre a lot of times when um, when we need a big kind of credit overall, so um, if you guys have any questions, i see a couple.

People in chat appreciate you guys swinging by um. If you have any questions about credit, just throw it at us we're. I want to go over a couple things that i constantly get asked about. Credit um.

That is, you know either i haven't made a video on it yet or um, or it's just a little bit over my pay grade but but keep asking or keep asking questions, because every credit scenario is completely different. So if you have something specific to, you, then definitely throw that on, but the biggest questions or set of questions that i constantly get, which peter i'm sure you do. A lot of work on this is collections. Um collections is probably like the biggest thing um.

You know that i get questions on for for raising credit scores. So can you walk us through um the different types of collect? Maybe, like you know, a collection versus a char drop versus a paid collection, um kind of just give us some background on collections. So people can get a little more info on that yeah for sure um. Just to start um i mean, like i said i look at profiles ranging from different scores, um, but a lot of times.

Those collections can really affect a credit score. Um and like sean said, there's different types of collections, there's char drops usually usually charge. Offs are credit cards. You know old bank loans, that you know people don't pay on or pay on time and end up just getting behind on those um and those end up charging up um, but a lot of time.

These collection agencies, um, which are pretty much when say you, have a chase credit card um and you end up. You know falling behind on those payments um and you end up not paying it off or not catching up on those payments. They end up selling your account to a third party. That third party is a collection agency and that's when you usually get those collection accounts, um and those collection accounts can really hit your score um and a lot of times.

Um those collection agencies, don't follow the rules as far as reporting correctly um. You know they might have a certain balance. That's off a closed date might be off a lot of times. Those, like you said they count they're really interested, but for us what we look for is any inaccuracy or any inconsistency.

As far as reporting on that account um, we try to attack those with. You know different dispute letters um and just really make sure that those collection agencies are um. You know looking at your accounts, the right way right, um a lot of times, you'll, look at a collection account. The balance will be off by thousand dollars right when it's off by a thousand dollars.

Guess what it's not reported correctly? It's not abiding by their certain cost, which means they have to remove that account boom and knowing things like that is super important, because i know i work with a lot of people who - and actually we just had this convo. I think pierre me and you had this like last week. Someone has, you know a lot of collections and they just want to be like. Oh, let me just pay them all off and get them get rid of them all um.

But you know if, if those balances are off, it can actually save you tons of money by just being able to get it completely deleted. Also um i've talked about this, a bunch of my videos, there's a massive difference between paying off a collection and having a show as paid versus actually getting it deleted major difference in what it will do to your score. So it's that's all important stuff and since we're kind of on the the topic of this, i saw a question from from champion of justice how to get rid of a charge off from bank of america they're. So stubborn, it's affecting my credit score.

So when something's in a charge off state, what options do you have for getting it um removed from your report, i would say the basis of it is um just to review that account. I'm not sure what credit monitoring um you know, system or app you're using but make sure um you guys kind of stay away from the credit karma. I think credit karma's great to get an overall look to report um, but i would say looking at identity, iq or maybe you're, my fico, you can really look at the account and see the details of that account right. You want to look at the balance.

You want to look at um the statement base. You want to look at um anything on that account that gives you detail on. What's going on with it, you want to look very closely at that because, if there's anything anything that's wrong or inaccurate, with the way it's reporting it can be, it can be deleted um. So i think that's the main thing you want to look at um and, to be honest, um, like i said, if you're getting calls from any collection agencies or anything like that, um, please, please don't respond to any of their calls a lot of times.

They don't abide by certain rules and they're calling you multiple times it's actually an offense on their part um. So if you do have any collection, accounts or charge offs make sure you look at the account in detail, go over it um and see anything. That's inaccurate! Send a letter to the credit bureau and also send a letter to the creditor as well right - and i think that's important what you just said. So a lot of people will send dispute letters to the actual um.

You know collection, agency or whoever's holding that debt, but it's important to actually send that letter also to the credit bureau, because you know sometimes um and i see it all. I see it all the time in terms of like old collections is someone will have a old collection on their credit report, but it's only reporting to equifax and the other two bureaus actually aren't reporting it, and it's actually not an error on the collection company. It's an air on the credit bureau, which is kind of what a lot of people don't think is possible, but it is possible and can be solved. You know a lot quicker if you're kind of tackling them both.

Now, that's not always the case. You know some collection agencies will only report to one or two bureaus because it's cheaper for them um. They know you know you're gon na get hit by it, either way whether they're reporting it on one bureau or all three um, but that's just kind of something else. I always like to always like to talk about and then um.

I see this other question from webb's love, so you i actually haven't, had a whole lot of experience with this um. So i've got kind of a question with this as well, but um you were handed a notice to appear for a pre-trial conference mediation regarding a credit card um that went to collections. I've never had any experience with that, pier i'm, not sure. If you have yeah.

I have i mean the main thing is um. If it, if the account has gone to collections um, you want to make sure that you pay attention to. Your report, see how it's recording um collection agencies. They have to abide by the fair debt collection practice act.

Um and that's pretty much like their law. Okay and before you panic before you do anything, you want to make sure that you validate or get a debt verification letter. You want to send that debt verification letter to this collection agency first, to make sure that that is yours and first you want to make sure that they're able to verify this date or this debt. Sorry verify this debt with some sort of signature from you before you guys kind of move forward.

Um. I know a lot of times. You know you get these calls. You get these letters and you start panic um.

The main thing you want to do first is just kind of verify that that debt is yours. You want to verify that everything on that debt is um accurate before you move forward um, and this is very important - keep documentation from any contact that you have with these collection agencies. I think that's very important. You want to keep as much information as much evidence as you possibly can um just to kind of help you with the dispute process and help with um.

Removing these. You know, collection accounts from your credit report, yeah and uh i'll, say so kind of follow up. If, if you've tried dispute letters and haven't gotten anywhere with them, uh pierre, what what's kind of the ruling on i know, there's some certain time frames for when you do mail, something or or send a dispute letter um. Are there certain time frames or certain things that they have to abide by, or you know, provide a response by like you know they have up to 30 days or up to 60 days and then, if they don't abide by those, what what happens yeah so i Mean it's funny because they changed the time frame so much um, but i like to say anywhere from about 30 to about 45-50 days.

They have to respond um, especially if you send. This is very important. You need to make sure you send these letters certified mail. If you don't send the letter certified mail um, they won't take it as serious, and i like the certified mail, because you can track it.

You can see if they actually received it and that's very important too. I mean if you don't get a response within, like i said that 30 to 50 day range um. You want to follow up with another letter, that's kind of um, escalating the dispute um and once you escalate and get a response, there's other avenues. You can go and contact in the cfpb, which is the consumer financial bureau, which overlooks credit, bureaus and they're just different ways on no disputing.

If you don't get that response, i like it, i like it and then um. I know we've kind of been been hitting on collections a good amount. I want to get your kind of take on um, so i know when, when you work with a client to repair their credit, i mean, i know, there's always the low-hanging fruit that that you know both of us go for i mean when, when we, when i Get a client who's like hey. I need to get my credit score up.

You know 15 20 points to be able to qualify. I look for the low-hanging fruit, which is the stuff that i talk about on this channel all the time. You know the low credit utilization, all that kind of stuff um yeah, but the one thing i've i've always struggled with um is the credit increase. Now i've made a video on this.

I don't want any everyone freaking out. I made a video on credit inquiries. They don't impact your report that much, but if you have a bunch of them, then they can add up and start actually impacting your score. I feel like recently within the last, maybe four to six months.

The process for getting them removed is a little bit different on each of the bureaus, and i know that's something that you like almost immediately when someone gets started. You're like all right. Let's get these inquiries removed because they're easy what's kind of the process for that, because i know that in the past you could just like call and be like hey. This was, you know, unauthorized get, get it removed um, but i feel like now it's a little bit stricter.

Have you have you ran into stuff like that yeah um bureaus they change their protocols and their rules, their rules. A lot um, i would say, credit increase - was um. Probably one of the things like you said that we started with because it was kind of the easiest avenue to kind of help boost scores, quick um, but yeah it's becoming a lot more difficult, um, there's different ways. You can call um.

I think the best way right now um is to make sure if you are disputing. You know multiple inquiries, try not to go past more than four or five um and the reason why is because you want to make sure that the credit bureaus aren't looking at your dispute process as um, you know overbearing or just trying to remove all these inquiries. You want to make sure you attack, maybe three or four, i'm gon na look for some of the older inquiries instead of looking at some of the current ones, um and i have different um, you know letters for the inquiry removals and things like that that i Would love to you know, share with people and maybe help people you know, remove one or two inquiries or or help them. You know um on track with some of those inquiries, but yeah, like you, said it's it's a lot different now i know experian um was one of the easier ones as far as calling in and getting them removed, um leaving there a little bit more strict.

So i think right now, just focus on you know removing two or three inquiries. Um and another thing another tip would be to clean up the personal information um. I know a lot of times when i do yes i'll. Let you i'll let you go ahead.

No! No, i was going to ask you pretty much because i know that's that's like the next thing right. You start with the inquiries, then you start with personal information and just give you a background when you get a full credit report. Um and - and i thought it was a good question from from king bob in there so we'll get that in a little bit. But when there's a when, when you get a credit report, i mean there's information, it could be, i mean years and years old.

It could have addresses on it that you previously lived at um. It can have different aliases like different names. You used to go by. It's very common with females, you know having like maiden names versus what their current name is, um and - and these are good things not only to get cleaned up on your report to maybe boost your score, but also when you're trying to apply for mortgages or maybe Other types of loans mortgage lenders us as mortgage lenders, we have to question everything on a credit report, so the thicker and fuller.

That report is the more documentation and, like you know, building of the file we have to get. I mean for every address. That's on your credit report. We have to get a letter of explanation from you stating whether or not you have ownership interest in that property still or if it was just a rental or whatever it was.

So it's not just a good idea to get it cleaned up to raise your score, but also it just makes your process and your file a lot easier with everything which is always great. So now, pierre i'll. Let you kind of talk on what you do to clean up kind of that personal information yeah, so personal information, um, i think, is - is overlooked. Um, like you said, especially when you're dealing with you know, accounts in you know low 500s or maybe the low 600s.

They have a few collections, they have a few increase that they don't really recognize um. Sometimes you see a long list of addresses phone numbers, employers names. You want to make sure that you have the name that you use when you apply for credit, whatever name. That is you want to make sure that that's the only name reporting on your report.

Okay, then you want to move on to your phone number. You want to make sure you clear up all those old phone numbers, all those old work, business whatever it is. You want to have one phone number on there same with the employer. You want to make sure the employer is up to date and a lot of times.

What happens is with these old addresses old names, they're tied to these different accounts right these different negative accounts. There's different vote accounts that you don't recognize, maybe a credit inquiry that you're like wait. I never apply after chase bank um and when you remove these old addresses now those accounts are connected to it have to be removed as well, if they're not removed. Now, when you send those dispute letters right, you're, like hey i'll, recognize this account, they run their investigation.

They're like hey. This address doesn't match with you know the address that we have on file, so this account needs to be removed. Um - and i think you know that's kind of the first step as far as taking control of your credit, it's going on there looking at you know the personal information um and a lot of times that stuff is live um in comparison to like a collection account Or credit inquiry um, you can go online, you can call experience, you can call equifax, you can call transunion um and get those removed quickly, um. I know they have really long poll time.

So, if you don't want to be on hold for a couple hours, make sure that you can send in a dispute letter and just saying hey these addresses are wrong. These phone numbers are wrong. These employers are wrong. Kids, get these handled and they're, usually pretty fast.

At getting those removed but, like you said, i think, that's probably one of the biggest pieces that i've learned through this whole process is that personal information holds weight. It does hold weight um and if you can take control of that you're already halfway through the process. Yeah and i think that's um big in understanding the big picture on things because um you know and and i don't i don't ever - have any bias like i i see a credit score. That's the minimum 350 and i see a credit score.

That's 850 at the highest end. I don't have any bias for those people or for what's going on, because i've learned to just accept that people go through things in life that ends up impacting their credit. I mean for once. I had a client whose husband basically passed away um.

Luckily he was actually revived like he was. I think he was pronounced dead for like over an hour, but then he was revived, but there were so many medical bills and medical collections that ended up happening because of this one life event um, and so i never questioned anything like that. But that's i'm kind of saying that, because um, the biggest thing is when you owe money and you have a collection or maybe a judgment which i want to get into a little bit later. But let's just say you, you owe money um.

At the end of the day, you owe that money um now you're you're you're lucky. If they make a mistake in reporting and you don't and you get it deleted, you don't pay for it. That's great! You know you lucked out, but at the end of the day you do owe that money. So it's always going to be harder to get that removed, something that you owe someone money who wants their money back.

It's going to be way harder to get that removed versus personal information that doesn't have any monetary value behind it. So that's why i like how pierre is always like focusing on those low-hanging fruits, all right. Let's tackle these these little things that we can get removed and get a score up 100 points and then we'll work into some of those deeper ones but piggybacking off of that topic. Before we move on, i saw yusuf kind of talked about how maybe the process is a little different between um between different bureaus, so uh do you have kind of anything to to add to that making it? You know that, like experience a little more challenging yeah, i mean transunion and equifax have always been very responsive through the letter process um.

So you know sending transunion equifax letters have been very successful. Experian is kind of a mix between letters uh, maybe throwing in a couple phone calls here and there um, and i think experian has done a really good job with the customer service as far as not having the really long hold times in comparison to trans union. Equifax um, but just having different avenues of disputing is very important phone calls um. You know sending it sending in certified mails um, making sure that um, if you're, not getting the responses that you need or if they're not responding at all, contacting the cfpb um.

If you're dealing with dealing with collection agencies, um going through the better business bureau and there's different ways on you know disputing um and in the results that you want, so i guess the main thing is just knowing the different steps to take um. Obviously, you want to start with the letters um and if those don't work you can go to cfpb or the better business bureau, but there's definitely different um ways of going about it and they're totally right. Different barrels go about it different ways: um, but yeah. If you're dealing with experian, you might call the land if you're dealing with trans union or equifax, you might um use the certified mail and the cipd yeah.

I like that, and i'm actually got a video i've planned that i want to be releasing in the next couple weeks on uh differences between the three bureaus, because a lot of people like to think that they're government-held entities that are like all the exact same. But they are three completely separate companies. Think of it like burger king mcdonald's, jack in the box like they are like they all kind of are restaurants, but they all are completely separate entities. They do not talk to each other they're, completely different um.

So i'm kind of excited to release that video, because i'll i'll break that down a little bit further um. But i want to jump into um king king bob's question about uh. Can a collection agency put the remark affected by natural disaster on a collection? Even if you haven't been affected by a natural disaster, i've never heard of that before i've never even seen anything on natural disaster. Yeah.

That's funny! Well, um! You know what a lot of times like i said these collection agencies, they don't follow, um their rules. They don't follow um the guidelines that, like i said these collection agencies, they're supposed to follow um a lot of times, they'll, throw different things on accounts and you're, just kind of like wait. What that never happened to me? Well guess what they're reporting something incorrectly um and you can use that right to get it removed. You can use that um to contact the business bureau and be like hey they're reporting this on my account.

This never happened to me right this. This does never happen. You can use um, you know, like. I said it's very important to keep evidence and documentation on if you do have any um communication with that collection.

See, if you don't that's fine um, but make sure that you show um the detail of that account um and, for instance, let me just give you um just a quick example. I actually dealt with something similar to this um. That has something on our collection account that basically wasn't theirs right. The balance was, i believe it was reporting at 12, 000 um and i believe the balance was supposed to be like 4, 500 or so um, and they had evidence of this.

Obviously, through you know, prior documentation through the loans they had beforehand, but when it got sold to the collection agency um, the details got mixed in and the collection agency end up reporting something totally off um and it's so easy to get these things removed. You print out your credit report. You circle it. You show them evidence of what the amount should be.

In your case, hey, i was never in a natural disaster. This ever happened boom, so i think just for you is just to pay attention to the evidence. Um and if you have to uh contact the better business bureau and get it removed nice yeah, so i've um, i i've, ran into a couple of different scenarios with um like natural disasters, on other things related like unrelated to credit um, and i know that there's Always different ways that that they're kind of treated versus like normal things um - i just didn't know that wasn't credit. So that's definitely uh something new for me that i learned you learn something new every day um.

This is another good question from um from sync. If i clear address and account um ms, does that shorten my credit history, thus affecting new credit approval and score, and i've got a similar question. Um on this, pier is uh. You know a lot of times i'll, get or i'll see a lot of accounts on a credit report like like old um, credit cards and they're, just showing paid and closed and whatever, and i know that, obviously the more um credit lines and and the longer history You have obviously the better your your score um, but when you when you, because they they still stay on a credit report for a while, you know just showing like pay that they're not active but they're still on there.

When you do clean up those those names and addresses um, what what does that do to that? To that does it? Does it come off and then immediately because you're kind of doing two things you're cleaning up personal information, so it should improve your score, but then also maybe you're. Removing an older like paid closed account. My thought process is that paid closed account is already like affecting, is already affecting your score, so getting it removed, isn't going to change anything because that doesn't have any weight, but i don't know i could be wrong. What do you think? No, actually, that's a really good question um, just to pick back off of it um.

The main thing is: if you do have those positive paid closed accounts, i mean you're worried about getting those removed because they might be tied to an old address. All you have to do is get in contact with that creditor. Make sure that your name is reporting how you want make sure that your address is reporting how you want update an employer on that account. So now the way you want your personal information to be reported right now that account is tied to that and it's not tied to that old information that you're getting removed.

So that's very important make sure that all your positive accounts have all your current information and it's literally just calling in so you have a discovery card that you had. I don't know in 2018, it's paid close, perfect payment history, but the address is old. All in make sure it's updated boom taken care of, that's actually pretty cool. I didn't even uh.

I didn't even think about that, but i guess that's a good way to do that before you get everything that's tied to that address removed and then you keep that exactly exactly super cool. That was a really good question. That's a really good question. Yeah i've! Never even kind of had that come up and then also on top of that.

So a lot of people always ask me too sean. I opened up a credit card like when i was younger. It's a crappy card. You know 300 limit, maybe a secured card, maybe not um, but there's no real benefits.

I just want to like close it and get a new one, and typically what i'll tell people is like. You know most the time that credit card is being held by a by a big credit card company who has tons of other cards, that they can upgrade that card, and do so. I usually tell them to go upgrade that card um, but is there? Is there another option or something else that people could do for that or no, i think, like you said, the best thing to do is upgrade that card, maybe increase the credit limit um. I don't really like closing accounts um, i mean it's weird with close accounts.

Sometimes it can affect your score um in the short term, but in the long term um. In retrospect, it won't really hurt your score because you're still building, maybe through different avenues as far as paying your mortgage or your car payments or getting different credit cards um. But if you're looking to apply for credit in the short term, i don't like closing out, accounts um. Obviously, if you have to do the financial reasons, i totally understand um but yeah.

If you're looking um to kind of keep growing your report, i would definitely say to maybe increase your credit limit or just upgrade the car um a lot of times those secured cars, maybe you've shown to the bank like hey i'll, be paying on time for three Years i increase my credit limit, maybe make it unsecured and they can make it happen for you that can definitely help you score as well. Um so yeah just look into maybe different avenues as far as maybe increasing the credit limit or uh just applying for a different card through that same bank or just upgrading yeah, and that's something um important that i learned when i was kind of upgrading. Some of my cards is um. These banks are these credit card companies.

Would you know they want to keep your business? So if you call them and you're like hey this card kind of sucks, i've had it for like four years. I barely use it because i get like half a percent cash back. It's got a 300 limit like it's. Just i'm not using it.

They're gon na want to keep your business. You know. There's a i've talked to a lot of credit card companies um, who back, which is something kind of crazy and i've always thought about doing. But um like i want to make a video on.

It is when you guys see cards like an amazon card or you see like a best buy card, or you see one of those other cards. It's basically the exact same card with the exact same bank or credit card company and all it is, is different. Branding and different, like specific rewards for that company and i've, talked to a lot of credit card companies about this um, mainly with with other things that i do like with directionesque. But the thing i want to mention about that is: they are so um they're.

So protective over their their consumers or over there, the people who use their credit cards um, for example, a lot of airline companies during the pandemic. They actually survived because of their credit cards. Their credit cards were the things that kept them on the balance sheets like in in the in the the black and not in the red. So it's a very big important importance to them.

So when you are like calling saying your card, isn't like good enough or whatever they're doing everything they can to keep your business and there's a really good chance that they're going to give you a higher credit limit. They're going to give you a better card um because at the end of the day, they're still going to win like they're still going to win um if you're gon na you know not pay your cards on time and all these other things. So they want to keep your business and i know i know it's it's nice to be able to go. Oh this new flashy x1 card just came out.

I want to go open this. I can't upgrade into that. So i just want to go get it, but when you actually look at the cards and i've made videos on this they're all pretty similar - and you typically want to just upgrade so you're - not closing closing those accounts - um which is kind of cool there, too. 100.

100 yeah. No, no problem for sharing a lot of the credit card. Um information i mean as pierre and i know, um, it's not common knowledge and uh pierre's story is actually pretty cool um with kind of learning credit you know just getting into the books and learning all about it and um. I think it's a cool.

A lot of people hate credit. I think it's a cool industry, because it's constantly changing it's not a static. Here's how you get to 850, it's all based on your peers and so the more information you know. That's up to date, the better off you're gon na be and if, if you're, not watching, videos or you're, not learning about this every day, you're gon na have no idea um, you know, so i think it's.

I think i think credit's always fascinating for me and um again, i i kind of stick on the 10 000 foot level, piers like in the trenches every day with it and then one thing i want to talk about real, quick kind of before we we probably Get wrapped up is uh judgments and some of the more intense things on someone's credit report, so judgments um. The way i like to think of them is an escalated collection. It is a something that it's not a, it's not just say hey. This is just a collection you owe this company or this or this debt collector money.

No, it's like a full-blown. Maybe you had a lawsuit that you didn't show up to court on um and whatever the the thing for, like the government or the city or or whichever governing body of that debt turned it into a judgment and like these things are hardcore um. So have you had any success, getting judgments from movement? Usually, when people ask me questions about judgments, i'm kind of like attorney like you need to talk to an attorney. I don't i don't know.

Yeah. No judgments are tough. You know um. Let me start with this.

If the thing about credit repair is we're cleaning up, inaccuracies, cleaning up errors, we're cleaning up um, you know basically the way it's reporting our report, that's what we're attacking we're attacking the credit bureaus we're attacking these collection agencies. But if you do owe something you will have to pay it at the end of the day, right, um and you know, setting up a payment plan or setting up a settlement with a different with a certain company um. You know those are all things you can look at um, but if you owe something you'll probably end up having to pay but kind of just jumping off that as well is with these collection agencies, like i said um, they don't follow their guidelines well and if You can show any errors or inaccuracies in the way they're recording something on this collection account um or one of the things i like to ask. My clients is hey: have you been in contact with a collection agency? Have they have they been calling you have? They been reaching out to you what's going on, because collection agencies actually have a certain amount of time that they're able to call you are allowed to call you within a day and if it goes over that they have to so.

If it goes over that they basically are um giving up their rights to report, your account um and it's crazy because um they have it's called a fair debt collection practice act and there's rules and laws they have to follow. I would say if you have a judgment, please look at the fair debt collection practice act, um. It will kind of help. You understand what guidelines.

The collection agency must follow, um, especially to receive that debt um, and i can send this to sean. So we can maybe share with everybody, but they have a pdf online. You can pretty much google, it and just kind of um. You know open it up and just just check out the different laws and guidelines that these collection agencies have to follow because every day they're breaking something and if they break one thing, that's the easiest way to get it removed um.

So i think, if you have a judgment again, if you go for debt, you'll have to pay but pay attention to the fair debt collection practice act. That's so important! That's probably the biggest gym that i can give you tonight just kind of pay attention to the laws and the rules that the collection agencies have to follow and also the credit bureaus as well. Um there's certain things that they have to follow. Um, and sometimes they don't you know.

Sometimes they won't respond to a letter. Um and those things are all cases in which you can get an account removed or something fixed on your credit um, that's reporting, incorrectly yeah and um, and that's i was going to kind of follow that up with a story too. So i had a previous client um. We actually ended up closing on their house.

So so, typically, if there's a judgment on your report, it's it's got to be settled before you buy a house or refinance a house, because essentially that judgment's going to take precedence over pretty much any other type of debt, because you got to think of debt. The way debt happens is uh. I'm talking big debt here, not like collections or credit cards, but the way that debt works is it's all in lean positions and so whatever's in first lean position or whatever is the oldest um like like debt. You owe that one is always going to be paid first, so if you own well, besides the irs like, if you have money, the irs, like they they're they're, the government they're gon na win um.

But you got you. You've got like levels. So if you've got a first lien, let's say your mortgage and then a judgment gets put on that judgment was put on after your mortgage. So if anything happens, that mortgage is getting paid essentially first, but when you go to purchase or refinance that new mortgage is now going after the judgment, which means the judgment is going to start taking precedence over that mortgage and no mortgage company is going to lend You know quarter million dollars, 400 thousand dollars if a judgment's gon na get paid before they're before the mortgage, so um those things kind of always have to be settled and a story i had was.

There was a small judgment and you know judgments can range. Any type of debt can range a lot, but this is a small judgment which i can anything small is is ten thousand dollars or less um, which i know is still a lot of money, but i've seen judgments that are like 90 grand 100 grand um. So this one was like two thousand dollars: uh client did not want to pay. It was basically going to talk to an attorney and the general uh gist that i learned from the whole scenario was.

The attorney was doing the exact same thing that pierre just mentioned. They were essentially like, let's find any sort of inaccuracy on this judgment, to get it removed because otherwise you're not getting this removed. And yes, you know they would have spent far more than two thousand dollars to try to get that judgment removed um than just paying it out right. So they were like all right.

Let's just pay this out. Let's close this, let's close this home purchase and move on with it so um you got to pick your battles uh, you know intelligently, because now, if that judgment was like fifty thousand dollars yeah, it might be worth spending five to ten grand on an attorney to Get it removed because you're going to end up saving money um but yeah you just kind of want to think about those things before you start getting into that argument of just not wanting to swallow your pride and and just pay some yeah and - and i think You said something very important: it's like don't put a price on um, you know credit repair or credit consulting like you're we're dealing with debt from you know forty thousand dollars worth of better fifty thousand dollars worth of debt, and you know people are like uh. That's kind of expensive um, you know for credit, consulting or credit repair. It's like hey we're dealing with serious numbers.

Here i mean if, if you go about it um, you know, through these different creditors, you're gon na end up paying, you know, say, owe forty thousand dollars. You end up paying. Maybe thirty thousand dollars just to settle some of this debt and it's still going to be on your credit report um. So it's don't put a price on it.

Um i mean we're dealing with. You know serious accounts, serious debts, different liens judgments, um. I think it's very important, like you said it's like, if you have a chance to get it removed, let's just get it removed. If you have a chance to find someone, maybe it's not myself, but if you have somebody that you have in mind that can help you with your credit report, find them go through your credit report in detail figure out if there's anything, reporting, inaccurately um and start Sending out dispute letters, if you can do it yourself, um i mean, but if you can't and you're looking for someone um, please book a consultation with me, i would love to talk to you.

You know talk credit um and help you get on the right path. For sure, yeah and i've got a pierre's website linked down below um and then right before we wrap up. I want to kind of break down the process of of how it typically works um, for, i would say, most people who, who kind of start this kind of fixing their credit um is most people try to apply for some sort of debt, whether it's a mortgage Car whatever and realize oh crap, my credit score is not where it needs to be or oh crap. I can't qualify for something i need to fix it um and that's when i kind of look at it.

You know if they're applying for a mortgage. Let's say i kind of go all right: here's! What i think is the path of least resistance to get you to qualify, and even that is going to be the bare minimum um. So that's going to get you into a home like i've done so many mortgages where it's a two-step plan. The first step is get you into that home.

You know so now you're in the home, but your mortgage payment's really high with a high interest rate after you get into a home, get with pierre or get get working on your credit in general. Take a couple months to really get it straight and then refinance later, but um. First of all, people will kind of try to. You know try to get new debt and realize they can't so then they go to fix credit and the biggest mistake that people will make and peer can definitely stand by.

This is people start going online and trying to find the cheapest credit repair out there, and most of these companies are going to be charging you a small monthly payment of let's say, 50 to 75 a month and they're gon na do absolutely nothing. They're gon na send you an email and be like all right pay down your credit card and you're gon na be like wow. I spent fifty dollars for this person to tell me to pay down my credit card. Don't always look at the price of credit repair and think i'm saving money by going with this company, because guys i've worked with probably like 15 to 20 different credit repair companies and there's a lot of credit companies who just try to keep you on that monthly Retainer and don't really do a whole lot to actually fix your credit, so um, you know like you're, saying you're dealing with a lot of debt and you're dealing with your livelihood um.

You know you want to make sure that you're actually fixing your credit, um and things are actually progressing more than just yeah pay down your credit card or oh yeah, like you know, we sent a letter and they're not budging like no. You need someone in your corner fixing your stuff, because, if not you're wasting your money - and you can do that on your own - i put out so much content on information on fixing credit that you could potentially do it yourself. But a lot of people, don't a lot of people don't have time, they don't do it correctly. They end up wasting your time.

That's why you want to talk to a pro like pierre on to get it done quickly and effectively and obviously save you a bunch of money, so that's kind of the process that a lot of people go through and don't don't think about. My credit score is not 800 in 30 days. This is useless, like it's gon na take time. Okay, it's it's! It sucks that credit will drop in an instant, but to build that back up.

It's um, it's really hard. I always use this uh. I always use this example and some people laugh. Some people think it's inappropriate, but let's say you're dating someone all right and you're you're married, let's say you're married and you have this really tight connection.

Things are going great. This is your 800 credit score right things going great. Well now you just cheated on your wife. Think about her trust with you.

It's immediately going to drop that's going to go down to a 400 credit score. You just cheated on your wife and sure. If you go to your wife the next day and say like look, i'm a changed man all right, i'm not going to i'm not going to do that again, i'm going to do everything right moving forward. Do you think she's instantly going to be like? Oh yeah, we're back to where we started before you're there's your 800 credit score.

No, it's going to take time to build that trust back up with your spouse and get back to the level that you're at before, and it's the exact same thing in the finance world um you know: creditors and and people lending money or people whatever giving lines Of credit um, you know you make one mistake, it sucks, but you make one mistake and like you're instantly in the dog house and then to get back into the house, it's you got, ta, prove it and you got ta. You got ta put in the work to get up there, so um don't get discouraged because it it does suck but um, but it just takes time and as long as you're doing the right thing it it's gon na happen. It's not like you know, you're not going to make progress, um, so yeah any again pierre's info is linked down below. I think that's where we're going to call it.

I don't want to go too late on this on this live stream. I appreciate everyone coming in and stopping by obviously pierre thanks for thanks for swinging by hopefully uh. Hopefully this information is helpful. It's going to turn into a video on youtube.

So um, you know if you want to go back and look at a couple things. We talked about then, then feel free to and yeah anything else. Pierre, no, thank you for having me um. Let's, let's keep doing this, i want to make sure that we're getting everybody on.

You know important to help people um get credit in order. Um and, like shawn, said, if you have any questions or um, if you are looking to maybe repair your credit, please reach out um, please reach out. I'm looking for um a few new clients um, i'm gon na probably cap out this month at like five clients, so um, just because it's it's been crazy, a lot of new clients, a lot of new um. You know uh business opportunities, um and i wan na make sure i'm giving you guys really good work.

So i want to tap out at five new clients, so five new consultations, that's what i'm looking for right on well sounds good again. Everyone thank you for coming and uh. I don't really know how to end this thing. Besides, like you know, cool way to end it, so i'm just gon na at the end stream again appreciate everyone coming and.