Divine Direction Inc Consulting

01/13/2025

Tips

Feelings of financial security are on the rise in the U.S., with 33% of Americans saying they don’t feel financially comfortable in 2024.

That’s a 6% jump from the previous year. But it’s possible to reverse those feelings to be in a better position and feel confident about your finances.

Here are several ways to move forward and begin your personal journey to financial empowerment.

Choose your own path to empowerment
As you make financial decisions to feel more empowered, find a balance between learning from professionals and making your own priorities in life.

Creating and executing a sound financial plan will boost your confidence and help you feel more secure as you move forward in your journey.

08/25/2024

08/19/2024

🌞 Good morning,

Today, let's immerse ourselves in the warmth of Romans 8:28, a verse that reassures us of God's unwavering support and the beautiful purpose He has for each of us.

08/19/2024

If you have land on South Ga I can help you

06/27/2024

Renters needing help

Hello I’m sharing resources because I received multiple calls about resources and eviction filings.

Please note to. Contact Cobb legal aid about any letters that you have received. 770-528-2565

Contact Cobb County magistrate court to see if you have eviction case 770-528-8900

Always respond to any letters that you have received.
Please note that if you have any maintenance issues please do not hold rent contact Cobb legal aid on how to proceed 7705282565

If you have not paid rent because you lost or job or was sick although the judge will empathize with you it will not delay your case. Communicate with your property manager about any concerns you may have. Cobb county does not have any apartments or housing that is based on your income. There are properties who state they are a tax credit property however they still charge. Rent for example a 2 bedroom may be $1400 a month instead of $1600 a month. Older apartments may have been flexible on rental applications guidelines and rental prices however they have the most maintenance issues and most aggressive eviction cases. These apartments are mostly in low performing school attendance zones.

Georgia House Bill 1017 will be in effect July 1st which will allow for property management companies to hire any law enforcement agencies to administer force set outs. ( evictions) writ of orders

All eviction cases must be heard before a writ of order can be administered.

Please have a plan of action in place to remain housed, if you do not share your residence with another adult or have a long term government subsidy it will be very difficult for you to remain housed if you make less than $40,000 a year and if you have children you will need at least $75,000 to remain housed . Do not rely on short term rental assistance.

Cobb county rental assistance and mortgage assistance programs

Cobb County rental assistance mortgage assistance and other resources

All of these agencies are open and taking applications Sweetwater mission is taking applications for rental assistance up to $3000 but you must prove Covid hardship
Contact call 7708190662 extension 16, 17 27 and leave message or go pick up application Physical Address: 6130 Hotel Street, Austell, GA 30106

Gmen
Www.gmen.org helps with up to $5000
Gmen for rental assistance mortgage and utility
https://form.jotform.com/232794387388172

Cobb county eviction diversion program helps with up to $6000 but the applicants must apply and participate in a program 7704282601 you have to have an eviction case number and must have school age children in the home

Anchor of Hope https://www.anchoroh.org
Helps with up to $1000

StoneBridge church 7708784807
Must have matching funds helps either like the last $300 or $200

Zion Baptist
https://forms.office.com/Pages/ResponsePage.aspx?id=8hRC8lNilkqwERVa_YIsnV1cE1OPLVpNj3NDC1_y18xUQ0ZIWTlCQkVKRVEyUFVVOU9NVklGVzJVRiQlQCN0PWcu

Cobb Senior services

Cobb county senior services for residents over the age of 55
7705285355 with rental and utility assistance

The Georgia Micro Enterprise Network (GMEN) is a Statewide hub and network of entrepreneurial training programs and microlenders supporting GA businesses.

04/10/2024

A higher target FICO® Score

Reduce your total revolving/open account balances of $26,256 by $4,814 each month for 3 months.
How much of your available credit you are utilizing is a key factor considered in calculating a FICO® Score, so reducing your $8,041 balance can help.
Pay all your bills on time for 3 months.
Consistently paying bills on time is a very important factor considered in a FICO® Score.
Stay current on your payments so that your most recent delinquency ages to 9 months.
Allow the age of your most recently opened account to increase to 1 year, 3 months.
Opening several new credit accounts in a short period of time indicates greater credit risk.
Allow for your average length of established history to age to 7 years, 11 months.
Opening a new account will negatively impact your length of credit history, so only open new credit sparingly.
Continue to make your monthly installment loan payments on time to reduce the total installment loan balances of $19,407 you owe.
Your balance on an installment account decreases every time you make a payment, which can help your utilization rate and FICO® Score.
Wait to apply for new credit.
A new credit application may result in a hard inquiry being posted on your credit report. Hard inquiries posted in the last 12 months may reduce a FICO® Score and impact your goal timeline.

03/06/2024

Info is like having money in the bank!!!

03/03/2024

Make it count !

Buy a house and get a 15 year fixed mortgage rather than a 30 year mortgage. Saves a lot of money in interest over the life of the loan. If you must get the 30 year mortgage, verify that there is no prepayment penalty. This gives you the flexibility of paying it off early if you are able. But it also gives you the option of making lower payments when times are tough...

When you start your job, get an HSA account and not FSA and get the high deductible health insurance. It will lower your tax bracket and the money is yours to use. You also earn 40% in most cases after 10k!!!

Never buy a car brand new! I’ve watched Escalades go from 100k (new) to 35k four years later. 🚙

Get you an LLC (incorporate your name!!) and run it as an S Corp. Add yourself and your kids as employees and avoid pay the 15.3% self-employment tax. Remember Jay-Z quote “I’m not a Businessman I’m a Business Maaaaaaaan....” Let that sink in.
Build business credit! The loans are bigger and the interest rate is lower.

Once your LLC has been established you can then hire your children and pay them an annual salary up to $12,400 which serves a tax break for you and lowers your yearly liability, at that point your children can use their earnings to pay for things like their tuition, school trips and any other activity or upkeep that you were originally going to be financially responsibility for so their needs are met, you're assisting them in establishing a good work ethic but more importantly you're decreasing your taxes and keeping more of your earning in house

Get a business bank account (in most cases this costs around $500 to start). Some people got two stimulus checks and the SBA. Also no fees. Recently some got the PPP or EIDL

Go to Community College first and transfer into a four year college (unless you have scholarships to help mitigate the costs) as a Junior. School is a power move you must be able to secure the bag. Majors in STEM will always be needed, are in high demand and the skills can directly help the community. 🎓

Get life insurance for you (whole life) and your children (term) as soon as they are born (one thing is for sure is we will die..might as well leave your kids or family something extra). The sooner you get it, the cheaper it is. And you can borrow against it to fund certain projects. Also, the ones that pay out dividends are the best! They normally are associated with the market (money market accounts). IUL’s are great! 💰

Get the people in your immediate family to save collectively! If 10 people save $500/month, that’s 60k every year. You could buy 3 starter homes (depending on your market) every year and in 4 years all ten of you are home owners. Buy on the same block or neighborhood if you can...this way you control the value of the homes (remember Monopoly!). 🏠

We need to promote financial literacy. Building capital and creating equity to create generational wealth. Having financial freedom is everything! This is not being taught in the school curriculums or our education systems! We must do it ourselves!

***I need 10 people to copy and repost this on their pages and groups and spread financial literacy!

02/23/2024

DEBT

Balance transfer credit cards let you move your existing balances from one (or several) credit cards to a new one. These cards often come with 0% APR for the introductory period. If you are able to pay off the balance before this period ends, a balance transfer credit card can save you a lot of money. This timeframe is often short, and your balance starts to collect interest once it’s over. If your new card has a high fee, you could be right back where you started.

Before you opt for a balance transfer credit card, learn the terms of the introductory APR period. Late or missed payments during this time can render the low APR offer invalid. You should also find out if there is a fee to transfer your balances.

Personal Loan
You need good credit to make taking out a personal loan worthwhile. The better credit you have, the more favorable loan terms you can expect. Borrowers with poor credit may face sky-high interest rates that make it difficult to make any headway paying down debt if you aren’t outright denied a loan.

If you qualify for a low-interest rate and flexible terms, a personal loan is worth considering. However, if you’ve made financial mistakes in the past, it’s often hard to find a lender willing to take a risk on you. Read the loan terms carefully. If the interest and fees are comparable to the rates you are already paying on your debt, it’s best to look for another option.

01/30/2024

The contents of your credit report can determine the likelihood that you will be approved for loans, mortgages, and other types of financing from creditors. If you have a lot of accounts and are regularly missing payments, you’ll likely get declined for that new auto loan.

It is important to review your credit report regularly in order to make sure all of the information is accurate and up to date.

Now that we know the information credit bureaus look at and why, let’s get into how to help you manage that credit card debt! Here are 5 ways to get a handle on debt management today.

Step One – Know What You Owe
This is the first and most important step in negotiating your credit card debt. Get a clear picture of how much money you owe, to whom, and at what interest rate.

Knowing what you owe is absolutely paramount when starting to negotiate your credit card debt. It is important that you understand the interest rates related to each account and get a clear picture of your financial situation so you can best make an informed decision based on your circumstances. Gather all necessary documents and be sure that all accounts are up-to-date—this will give you the most accurate assessment of your debts and interest rates. Your debt and interest rates are key pieces of information that will help you decide how to move forward with negotiating your credit card debt.

Step Two – Call Your Creditors
Infographic of a woman trying to negotiate credit card debt
Once you know who you need to pay and how much you owe them, it’s time to give them a call. Be polite and honest with them, explain your situation, and ask if they will work with you on a payment plan or lower interest rate.

When it comes to credit card debt, communication is key. Let them know if you are struggling with any late fees or cannot make a full monthly payment. By working together, credit card companies are often willing to discuss payment plan options or modify interest rates in order to help you resolve the debt faster. Make sure to always stay up-to-date with payments and do whatever you can on your end to establish a successful repayment process that works for both parties.

Step Three – Consider Consolidation
If you have multiple debts from different creditors, it may be helpful to consolidate them into one loan with one monthly payment. This can make things simpler and more manageable for you financially.

Debt consolidation is a great option for managing debt payments more efficiently, providing debt holders with the opportunity to combine multiple outstanding debt proceedings into a single loan from one lender.

This relieves debt holders from juggling multiple accounts and payments and instead only requires them to make one payment each month. Debt consolidation also offers the advantages of a lower interest rate in some cases, along with balance transfers where eligible. Consolidation can provide debtors with a sense of relief, confidence and control over their finances. Ultimately, it can be a beneficial tool in efficiently addressing debt management.

Step Four – Don’t Be Afraid To Negotiate
When it comes to debt negotiation, don’t be afraid to ask for what you want.

Creditors are often willing to work with borrowers who are proactive about trying to repay their debts in order to reduce the amount they stand to lose if a customer is unable to pay their debt. In other words, it can be beneficial for both parties—the customer is able to lower their debt payments and avoid possible legal action, while the credit card company can avoid having to write off the debt completely.

Negotiation Points:
Lump Sum Settlements: Negotiating debt can feel daunting, but it doesn’t have to be. One debt negotiation option that may suit borrowers who have the funds available is a lump sum settlement with their creditors. This can save you money, as often debt collectors are willing to agree to a payment lower than what’s owed on debts if they know the borrower is taking responsibility for repaying them.
Lower Interest Rates: Alternatively, debt management plans can help borrowers reduce the amount of debt they owe by reducing interest payments while they get back on track with their debt repayments.
Ask for A Hardship Plan: A hardship plan is an arrangement between a creditor and a borrower that allows the borrower to make reduced payments for a limited period of time. This type of plan is usually offered by lenders as an alternative to defaulting on payments. The borrower’s credit score may still suffer if the lender reports late payments, but it can help protect against any further damage or legal action from creditors. A hardship plan is typically used when the borrower cannot afford to make full payments due to financial difficulties, such as job loss or medical bills.
Whatever you need, don’t be afraid to speak with your creditors and ask for what you what—chances are, they’ll be open to working out an arrangement that suits both parties.

Step Five – Pay Off Your Debt As Soon As Possible
The sooner you can pay off your debt, the better off you’ll be financially. Make a budget and set aside extra money each month to put towards paying down your debt until it’s gone for good!

Paying off your debt as soon as possible is highly recommended for financial freedom. Whether it’s credit cards, student loans or other payment plans, creating a payment schedule and sticking to a budget can help you gain control of your debt.

If you are actively working towards paying off your debt, you’ll need to plan on paying more than the minimum monthly payment each month. Even setting aside just a little extra money each month will make a difference when it comes time to eliminate your outstanding debts. This strategy not only saves you money due to minimal interest being accrued but also grants peace of mind knowing that obligations are taken care of quickly.

Ways To Seek Help
If you are looking for more professional services to help you with debt relief, there are a few different options to consider.

Debt Settlement Companies
Debt settlement companies are organizations that specialize in helping individuals and businesses to negotiate with creditors in order to resolve unpaid debts. These companies typically have legal staff and negotiators who work directly with creditors on behalf of their clients.

They can help by identifying the most effective strategy for reaching a debt settlement, including reducing or waiving fees, providing forbearance or deferment on payments, and negotiating lower total balances due. Additionally, these companies can provide advice and guidance on budgeting and other credit-related issues to help ensure future financial stability.

Credit Card Counseling Companies
Credit counseling companies are organizations that provide assistance and advice to individuals in regard to their financial situation. Credit counselors typically have specialized knowledge of debt management and budgeting and can provide resources to help consumers pay down their debts, negotiate better terms with creditors, and develop a plan for managing their financial situation. Many credit counseling organizations also offer educational programs to help people learn how to better manage their finances.

By taking a holistic approach, credit counseling agencies can help clients create plans that will improve their overall financial health in the long term. They may also offer services such as debt negotiation, bill consolidation, and consumer education.

Debt Consolidation Loans
A debt consolidation loan is a type of loan that allows you to consolidate multiple debts into one lower-interest loan. This can help make payments more manageable and potentially reduce the overall costs associated with paying off the debt. Debt consolidation loans can be used to pay off credit card debt, medical bills, student loan debt, auto loans and other types of loans. Some lenders may also offer flexible repayment terms and lower interest rates as an incentive to take out a consolidation loan.

The primary benefit of a debt consolidation loan is that it can make payments on multiple loans more manageable by reducing costs associated with paying off the debt. By consolidating all of your debts into one loan, you’ll only have to make one payment a month instead of multiple payments for each of your individual loans. Additionally, a consolidation loan may come with lower interest rates and flexible repayment terms that can help lower the monthly payments and save money in the long run.

Frequently Asked Questions
Still have questions about negotiating credit card debt? Check out these FAQs below.

How does credit card debt settlement affect your credit score?
Credit card debt settlement can affect your credit score in a few ways. First, settling debt will create a negative mark on your credit report that may remain for up to seven years. This could potentially cause your credit score to dip temporarily. However, depending on how much of the original balance is forgiven by the creditor, the effect on your credit score may not be as severe over time, and if you continue to make payments on any other outstanding debts, your overall score may not be significantly impacted. Additionally, the act of resolving delinquent debts through debt settlement can be beneficial in terms of restoring good credit and improving overall financial health.

Does a credit card balance transfer count as negotiating credit card debt?
A balance transfer can be used to negotiate credit card debt in some situations, but it isn’t a guarantee. Balance transfers can be beneficial as they consolidate multiple loans into one payment with a lower interest rate. However, the credit card company must agree to accept the transfer, and not all creditors will. Additionally, depending on the amount being transferred, you may find that you are still responsible for paying off significant amounts of your original debt.

Therefore, while this method can potentially help reduce credit card payments and make them more manageable, it may not always be an effective way to negotiate your credit card debt.

What is a lump-sum settlement?
A lump-sum settlement for credit card debt is when a creditor agrees to accept a one-time lump sum payment lower than the amount owed on the account in exchange for settling the debt. This type of arrangement is sometimes offered by credit card issuers as an alternative to bankruptcy or other debt-relief options. Lump-sum settlements typically require negotiation and can take weeks or even months to settle, depending on the creditor’s willingness to negotiate.

Are there tax consequences for negotiating credit card debt?
When you negotiate credit card debt, there may be tax consequences, depending on the type of agreement you make with your creditor. If the amount of debt forgiven by your creditor is more than $600, the creditor must issue a Form 1099-C to both you and the IRS. This form will detail the amount of forgiven debt, which is considered taxable income for that year.

Additionally, if you are able to settle your credit card debt for less than the original balance due and do not receive any additional goods or services from the creditor in exchange, this amount is also considered taxable. It is important to consult a tax professional before entering into any negotiations so that you are aware of all potential consequences.

What is a good credit utilization ratio?
Generally, it is recommended to keep your utilization rate below 30%, as having a higher rate may negatively impact your credit score. Using too much of your available credit can be seen as a sign that you are overspending and using credit recklessly. Keeping your credit utilization low is important for maintaining a good credit score.

Does making minimum payments or late payments affect your credit score?
Making minimum payments or late payments can have a negative impact on your credit score. Generally, lenders report to the credit bureaus after a payment is late by more than 30 days, and this will immediately reduce your credit score. Additionally, if you are consistently making only minimum payments, it can also lower your score due to the length of time it will take to pay off all outstanding balances. To avoid any damage to your credit score, it is essential to make full payments on time each month.

What are the downsides to a missed payment on a credit card bill?
Missing a payment on a credit card bill can have serious consequences. Late payments are reported to the credit bureaus, and this will immediately reduce your credit score. Your lender may also charge you a late fee or increase your interest rate, making it more difficult to pay off the balance in full. Additionally, some lenders reserve the right to take legal action if payments are missed for an extended period of time. It is important to make sure that all bills are paid on time in order to avoid any repercussions.

Freedom From Credit Card Debt
If you’re struggling with credit card debt, know that you’re not alone. Millions of Americans carry some form of credit card debt, and it can be a difficult burden to bear. But there are steps you can take to get out from under your debt and start fresh financially. The first step is to understand what you owe and to whom. Once you have a clear picture of your debts, you can begin contacting your creditors and negotiating payment plans or lower interest rates.

If you have multiple debts from different creditors, talking to a debt relief company or a personal finance advisor might be a wise idea for help with simplifying your monthly payments.

Finally, don’t be afraid to ask for what you want when negotiating with creditors—they may be more willing to work with you on a repayment plan than you think! Take these steps towards getting out of debt and building a bright financial future today

11/07/2023

Hard work and continual
Perseverance
Pays off