Client Appreciation Event: Star Wars: The Last Jedi Film Premier

Scottsdale, Arizona – December 15th 2017

Credit Absolute, a credit counseling company based in Scottsdale, Arizona, specializing in credit repair and education, has helped hundreds of families and business owners achieve their financial goals by working with them to improve their credit scores and get approved for mortgages, auto loans, business loans and more.

On December 15th 2017, as part of their 5 year anniversary, Credit Absolute hosted an event for the premier of Star Wars: The Last Jedi. The event, organized by Derick Vogel, Founder and CEO of Credit Absolute, was an effort to show the company’s appreciation for their clients and referral partners who have become a part of their growing family.

“Through building trust and friendships, we have been able to grow and expand our business over the past 5 years…[and] have been blessed with 3 consecutive “Best Credit Counseling in Scottsdale” awards.” – Derick Vogel

Credit Absolute also boasts an A+ rating on BBB and has been chosen over the last two years by Yelp as having the best Yelp reviews award.

At the Star Wars event, Credit Absolute had a meet and greet with Star Wars fans and actors. For the event they were also kind enough to bring a real life R2D2 robot for the guests. Derick Vogel was happy that Credit Absolute was able to give back to their family and members with this small gesture.

He went on to say, “I look forward to being a part of our [local] community more and helping those in need. There is a lot of misinformation out there and we will continue to build our awareness and coaching with fundamentals to help teach more on how to protect their credit and financial futures.”

Derick Vogel also created a Thank You video, featuring R2D2, during the event which can be seen below:

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The company will continue serving families and business owners in Arizona and the rest of the country while giving back to their community. While they primarily work with individuals who have low credit scores, many of their clients also have good, if not great, credit scores but still want to increase their score higher in an effort to achieve a lower interest rate on their mortgages or loans.

For more information about credit repair, how it works or how it can help you, please contact Credit Absolute for more information.


Tips on How to Get Out of Debt Following a Divorce

A 2013 study conducted by Kansas State University revealed that financial problems early in marriage are the most significant predictor of divorce. So, it comes at no surprise that when two people decide to make a split, newly-singles encounter financial difficulty. Whether you were already in debt previously or trying to avoid the monsoon of financial struggles you see coming, here are some practical tips to keep in mind as you work to rebuild your life.

  1. Tally it Up

No matter how much debt you are in or you and your spouse share, make sure you add take the time to add it all up. This includes auto loans, mortgages, student loans, and credit cards. You should be very aware of every debt amount and what name everything is in. Don’t leave any stone unturned, even if there are debts your former spouse may not know about. Take your debt and split it into two lists. 1) Debt brought into the marriage, 2) debt was incurred from the marriage.

  1. Work Out which Debts You Should Pay FirstWeighed Down by DebtWeighed Down by Debt

If you don’t have enough money to keep up the payments on all of your bills, loans, credit cards, or mortgage, it’s important to prioritize what you can pay and what loans are most important to your well-being. Your most important debts are usually your mortgage/rent and electricity bill. To ensure that you have a roof over your head and lights on in your house, make sure that you pay these bills before anything else. If you can’t make these payments, consider a temporary roommate to share the costs, re-entering the workforce, or picking up a second job until you get on your feet again.

  1. Sort Out Secondary Debt

Once you have made arrangements for your priority debts, you should work out just how much you can pay towards money you owe on bank loans and credit cards. If you can’t make the full minimum payments, contact your lender and tell them what you can afford. You may be able to restructure your loans based on your current financial situation. If you prefer to work out your credits with a debt professional, find out if you can freeze interest while you work out a repayment plan.

  1. Joint Debts – What to do?

If you have any joint debts with your former spouse, such as a mortgage, bank loan, or credit card, you are liable to pay the amount in full. That means that if your ex doesn’t pay their share, you are still responsible for the payments. Contact your lenders, inform them of the separation and request:

  • A restriction on the account so debts cannot be further escalated.
  • A lower payment agreement if you cannot repay the amount in full.

Once you have put measures in place to prevent further damages, try to make an arrangement with your ex-spouse. In order to protect both of your credit scores, try to divide the debt into what is fair, refinance wherever possible, payoff, and consolidate. You may require a mediation service in order to get agreements in writing.

  1. Don’t Think You’re Off the Hook

When it comes to marital debt, you’re always going to be responsible if it remains in your name – even if your previous partner has made an agreement to pay it after the divorce. If your ex stops making payments even years down the line, your creditors will hold you equally responsible for the debt that is owed. Working together after a divorce is tough, but essential to both party’s financial well-being.


Does Checking Your Credit Lower Score Lower It?

Your credit score is an important financial metric that can have a significant impact on your life. Good credit makes it easier to qualify for loans and makes borrowing money cheaper by reducing the interest you pay. If you have poor credit, you’ll have to pay higher interest rates when you get a loan or might have trouble borrowing money at all.

Checking your credit report regularly can help you have an idea of the loans and credit cards you can qualify for, as well as what you need to do to boost your score. It’s also a good way to monitor for identity theft or to notice incorrect information on your credit report.

When a lender checks your credit, it usually reduces your credit score by a few points. However, checking your score on your own is typically safe. Let’s explore why.

What Is a Credit Inquiry?

Your credit report contains a history of your interaction with credit and debt. That includes information about your history of making on-time versus late payments, the amount of debt you have, how many loans and credit cards you have open, and recent applications for credit.

When you apply for a credit card or a loan, the lender usually reaches out to one of the three major credit bureaus — Experian, Equifax, and Transunion — to ask for a copy of your credit report. The lender uses the information in that report to make its lending decision and to set the interest rate if it decides to offer a loan.

The credit bureau that supplied your credit report makes a note of that application on your credit report. Other lenders who request a copy of your credit report from that credit bureau can see your recent application for a loan through that note.

Hard Inquiries vs. Soft Inquiries

When a lender asks a credit bureau for a copy of your credit report to make a lending decision, that’s called a hard inquiry. Hard inquiries show up on your credit report, and other lenders that check your credit can see hard inquiries in your credit history.

Lenders don’t check your credit only when you apply for a new loan. Lenders can check their customers’ credit at any time and often do so when the borrower asks for an increased credit limit or as part of regular risk assessments of their borrowers.

Individuals can also check their own credit reports using the many free credit tracking apps and websites on the market. These apps need to reach out to the credit bureaus to request copies of customers’ credit reports, but aren’t using those reports to make lending decisions.

In general, when you ask a credit bureau for a copy of your own credit report, it’s counted as a soft inquiry. Occasions when a lender checks someone’s credit to pre-approve them for an offer or as part of regular risk assessments — rather than as part of an application for a new loan or credit card — also count as soft inquiries.

Soft inquiries do not appear on credit reports, which means they don’t affect credit scores. This means that you can safely check their own credit reports without having to worry about damaging your credit.

How Credit Inquiries Affect Your Credit

Each hard inquiry on your credit report drops your score by a few points, usually between five and 10 points. One hard inquiry won’t have a large impact on your score, but they can quickly add up, so having lots of inquiries on your report can really damage your score.

This is because frequent applications for loans are a red flag for lenders. Someone who needs to borrow money repeatedly is likely to be having financial difficulties, meaning they’ll struggle to repay their loans.

The impact of each credit inquiry decreases over time. After a few months, an inquiry’s impact is relatively small and is usually offset by other positive factors on the credit report.

Credit inquiries stay on a credit report for two years, after which they fall off the report. That means that each inquiry only affects a person’s credit score for a maximum of two years.

Reducing the Impact of Credit Inquiries

People who are applying for large loans, like mortgages or auto loans, often want to shop around and get offers from multiple lenders so they can find the best deal. Even a small difference in the interest rate on a large loan can save thousands of dollars over the life of a mortgage, so shopping around is more than worth the effort.

Credit bureaus and FICO, the company behind the most popular credit scoring models, understand the importance of rate shopping, so most scoring models account for it when generating your credit score.

Depending on the model used, all credit inquiries for loans like mortgages, auto loans, or student loans that happen within a 14- to 45-day period are combined when calculating credit scores. If someone applies for four mortgages in a week, it will only count as a single hard inquiry.

That means you don’t have to worry about tanking your credit by shopping for the best interest rates when applying for a large loan.

Does Checking Your Credit Lower Your Credit Score?

The majority of credit monitoring apps, websites, and services use soft inquiries to check your credit report and provide that information to you. That means it’s safe to check your credit using one of these services.

Credit bureaus only take note of hard inquiries into your credit by lenders making lending decisions. Soft inquiries do not impact your credit score or appear on your credit report.

Final Word

Healthy credit is an essential part of healthy finances. Your credit impacts your ability to borrow money and how much interest you have to pay.

If you want to keep track of your credit score, there are many services you can use to help, all without impacting your credit. One way to keep your score high is to only apply for loans and credit cards that you need, which reduces the number of inquiries that show up on your credit report.