Credit Traps & Reviewing Credit Strategies

Summer season typically increases credit & debit transactions. Therefore Visa, Mastercard and other payment platforms and gateways continue to have good growth.

There are few “Emerging International Markets” left where Credit and Credit Reporting is not used even at a Micro Level. We have our own plastic addiction where Cash as a percentage of Plastic is now at record lows. As our digital payments and new payment methods continue to grow into the future, we need to create and maintain systems to make certain those transactions are applied properly.

Credit Traps can include co-signing for adult children or family member accounts. Their lates become your lates on your report. Paying a collection can potentially drop your scores and maintained as credit damage for another 7 years. Online auto payments if left unmonitored, if a disruption were to occur can drop your credit rating.

Business partners when applying for a business loan become Personal Guarantors in case of a loan default, your personal credit is held hostage.

As America struggles with our “debt ceiling”, we need to seize the opportunity to reexamine how we deal with our own debt and credit strategies. The new mantra is, “less is more.”

Any questions on Debt Elimination Strategies, Credit Review Prior to Loan Application, let us know.

Bill Ipsan
619.794.0278 office
ipsanwest@aol.com

“Thank you so much for your contribution to the process for our client. He is closing today.” P.B. Banker, Short Hills, NJ

“Your Advice is invaluable.” K.A. Client. Lansing, MI
“I now have perfect credit and plan to keep it that way. I have your contact info and I will pass it along to anyone that can use your services.” B.D. Client. Aliso Viejo, CA