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Are you struggling to get a loan due to poor credit history?
Or maybe you have a negative item on your credit report, and you don’t even know where it came from?!?
Credit scores and reports can affect every aspect of life and most have very little knowledge when it comes to building or improving credit.
Devin Norcross is an expert on credit scores, credit repair, and debt restructuring. Formally the Regional Director for National Credit Care, he has traveled coast to coast working closely with various lending institutions, businesses, and charities. He now owns and runs Norcross Credit Consulting, spending his time educating others on the little known intricacies of the FICO scoring models and processes used by the major credit-reporting bureaus and how to use this information to improve their credit scores.
In this episode, Devin and I discuss the importance of having and maintaining a high credit score and how having a B- score can cost you thousands of extra dollars every year in interest. Devin shares the fatal mistakes many people make when it comes to trying to improve their credit and the dangers of inquiring for new loans. Do you think that going to your bank will get you the best rates? Think again, Devin gives tips for getting the best rates on your next loan and easy steps to take to increase your credit score and restructure your debt.
If you’re interested in the secrets to quickly improve your credit or what to do when you’re battling debt and collections you’ll definitely want to listen to this episode.
Want to hear more from Devin and chat with him in person? He’ll be speaking at Wealthy Wellthy Live this month click here for more info.
You can also click on the timestamps below to jump to those specific points in the conversation.
What We Covered
- [3:00] – Devin tells a little about himself
- [4:48] – Important to know about credit most don’t.
- [7:11] – What’s an average credit score? What is a credit score?
- [10:22] – When A+ credit scores really matter
- [13:38] – Other items outside of loans that require good credit
- [16:31] – Where are the biggest dings to credit scores
- [20:31] – The most common negative effects on credit scores
- [26:00] – What actually happens after 7 years on your credit report, sometimes it’s best to wait a little longer
- [29:38] – Devin shares tips for restructuring debt to benefit the credit score
- [35:17] – If you really knew Devin you’d know that…
- [35:37] – What are you most proud of?
- [36:02] – Devin’s myth-busting
[Tweet “The credit bureaus do not know your credit score, the credit bureaus do not track you credit scores”]
[Tweet “It’s not uncommon for someone to pay more than the balance of their vehicle in interest”]
[Tweet “The kiss if death is late payments”]
[Tweet “Some of my wealthiest clients have the worst credit”]
[Tweet “A lot of times with medical collections they’re not even aware of where it came from”]
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