Today.com – How to Build Credit When You’re In Debt

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Do you want to know how to build your credit score when you’re in debt? Well, this week that’s exactly what I discussed on Today.com, so watch the segment above to find out what you can do!

Email Question From Mary:

I went on a Debt Management Plan about 2 and a half years ago. I want to start rebuilding my credit. I’ve looked at pre-paid credit cards, but I am not sure this is the best way to go. Do you have any suggestions on how to start rebuilding my credit now? Or do I have to wait until the Debt Management Plan is complete?

My advice:

-          Go apply for a credit card, NOT a debit card.

-          Go to CreditCards.com and look for a credit cards that right for you.

-          Only get one that has a small limit on it, $1,000 – $3,000.

-          Use the card WISELY, and pay it off every month!

Live Rich,

David Bach

 

 

Go Green, Live Rich (From oprah.com)

Jean Chatzky

Do you want to save money and become more environmentally conscious at the same time? I talked to Jean about my book Go Green, Live Rich: 50 Simple Ways to Save the Earth and Get Rich Trying and about how my family is saving money and living better through a green lifestyle. Plus, Jean talks with journalist Bill Kurtis about his goal to raise beef that is better for the environment through his large-scale, grass-fed cattle business, Tallgrass Beef.

Click HERE to listen to the interview on oprah.com!

America’s Money Advocate

David Bach (B.A., social sciences and communication, '90) is founder of Finishrich Media in New York City. Photo by Phil Channing.

David Bach lets the HARPO Studio’s greenroom door close behind him and waits backstage for his final cue. The top button of his blue oxford shirt open and classic black suit perfectly tailored, he’s ready. This is his moment.

Click HERE to finish reading the article from my alma mater USC!!!

Deal with Your Credit Card Debt (From oprah.com)

Credit card debt

If You Can’t Afford to Make the Minimum Payments, Here’s What You Should Do

First, take advantage of Help With My Credit, a resource for struggling consumers created by a group of major card issuers, including Bank of America, Capital One, Citi, and Discover Card, plus the MasterCard and Visa networks. The service—which is available through both a toll-free number, (866) 941-1030, and a website—offers tips on managing your credit cards, communicating with the card companies, and finding an accredited credit counselor.

To read rest of my article on dealing with your credit card debt on oprah.com, click HERE!

The 10-Step Plan to Improve Your Credit Score (From oprah.com)

Credit score

So let’s get started. The simple truth is that raising your score isn’t that hard if you know what to do. It just takes time. As I noted above, it’s mainly a matter of understanding the factors that FICO weighs and then figuring out which of them you can change for the better. Over the years, I’ve coached literally thousands of people on fixing their credit scores, and based on that experience I’ve developed a 10-step action plan to get your score up quickly and keep it there. I promise you—regardless of where you are starting from, if you follow this plan, in six months your score will be higher than you thought possible.

Click HERE to read rest of my article on oprah.com!

Which Records Should You Keep and Which Can You Ditch? (From oprah.com)

Financial records you don't need
The reason I made the FinishRich File Folder System so specific is that many of us keep too much information for way too long. (I’m guilty of this myself.) The fact is, except in cases involving fraud, the statute of limitations on income-tax returns is only three years, so the Internal Revenue Service does not expect you to hang on to tax records and receipts for any longer than that. The main exceptions to this are if you’ve underreported your income (in which case you should keep your records for six years) or have claimed a loss from worthless securities (seven years).

Click HERE to read rest of my article on oprah.com!