Elevate Credit Solutions LLC

07/02/2022

July 1, 2022 - A historic day in credit reporting.

Zero dollar medical collections (paid or settled, doesn't matter) on credit reports have been removed as of today.

If a consumer defaults on medical debt & it's sent to a debt collector, they have to wait at least 12 months before they can furnish it.

Lastly some time next year (2023) medical collections with a balance

01/14/2022

Know your rights!

The Consumer Financial Protection Bureau (CFPB) today released a bulletin reminding debt collectors and credit bureaus of their legal obligations in light of the No Surprises Act, which protects consumers from certain unexpected medical bills.

01/14/2022

THIS IS HUGE!!!!!! The Navient student loan settlement is $260 per person & cancellation of the remaining student loan debt if your student loan was from a private lender!
You’re welcome💎

https://www-nytimes-com.cdn.ampproject.org/v/s/www.nytimes.com/2022/01/13/business/navient-student-loans.amp.html?amp_js_v=a6&_gsa=1&usqp=mq331AQKKAFQArABIIACAw%3D%3D&fbclid=IwAR1etc_nhy3IFlJ27J4ZaeF6GWTUYUudwM5aPKdm8nKm1oWFZkIm22u2OVc =16421243160419&referrer=https%3A%2F%2Fwww.google.com&_tf=From%20%251%24s&share=https%3A%2F%2Fwww.nytimes.com%2F2022%2F01%2F13%2Fbusiness%2Fnavient-student-loans.html

The student loan servicer agreed to cancel $1.7 billion in private student loan debts for nearly 66,000 borrowers and to pay $95 million in restitution.

12/30/2021

Credit Karma is NOT Free!

Credit Karma makes money off of the personal information you volunteered!

Credit Karma is NOT a credit monitoring site! - They collect your information from the credit agencies to create targeted campaigns based on your personal information which makes Credit Karma an affiliate marketing site!

Credit Karma DOES NOT give you FICO scores! Which is what mortgage lenders use.

Credit Karma provides you with Vantage scores (Not heavily used by lenders)

Credit Karma buys your information for pennies on the dollar, this is how they are able to provide you with updates daily or every 7 days.

Why?... To get you to look at your scores and their AFFILIATE offers! You know, the offers for those credit cards that say you have a fair, good or very good chance of being approved for....

Have you noticed they never say "You have a bad or poor chance”?

Apply, get denied and now you have an inquiry on your credit profile.

For those of you that are seeing you have a "chance" of getting approved for an American Express 💳 think again... You would be surprised to know, American Express mainly pulls from Experian for credit cards?

Credit Karma DOES NOT give you Experian credit report or scores

You’re Welcome 💎

11/27/2021

10 Banks that offer loans without a credit check 💎

1-SIGNATURE FED CREDIT UNION
http://www.signaturefcu.org/

2-MONEYONE FED CREDIT UNION
http://www.moneyonefcu.org/loans/fresh-start-loan/

3-CONNECT CU
http://www.connectcu.org/index.php/your-money/loans/no-credit-check-loan-program

4-ECU
https://www.ecucreditunion.com/signature-unsecured-loans.html

5-COMMONWEALTH FCU
https://www.cofcu.org/borrow/personal-loans/credit-builder-loan

6-BSE
https://www.cuconline.net/olb/www.bsecu.org/No%20Credit%20Check%20Loan%20Application

7-SECURITYPLUS FCU
https://www.securityplusfcu.org/personal/borrow/personal-secured-lending.aspx
8-MICHIGAN STATE FCU
https://www.msufcu.org/product_flex_loan/

9-SKYPOINT FCU
https://www.skypointfcu.com/home/borrow/flex-loan

10-DCU
https://www.dcu.org/borrow/personal-loans/quick-loans.html

Each bank is different but keep in mind you must open a savings account with them and be a member for 30-90 days before applying for the loan. Get in position 💎

Life can be unpredictable, DCU’s Quick Loan is designed to help members cover emergency and other unexpected expenses fast.

11/02/2021

Once you get approved for an auto loan. Here are three things to remember and the reasons why

1. NEVER add extended warranty to your loan amount. (This increases the value of the loan, but the car value decreases as soon as you drive off the lot. Unless you make additional payments on your loan if you ever decide to trade the car in you would have negative equity in the car)

2. NEVER add GAP insurance to your loan (same reasons as above)

3. If you want these things pay for them separately but NEVER add them to your loan. (Adding them also increases your monthly payment amount and more money spent towards interest).

Save more money by not financing these things in your loan and keeping your car’s value as close as possible to what you owe.

08/07/2021

The Biden administration on Friday announced that federal student loan payments will remain suspended through January 2022, extending a pause that began at the start of the pandemic and was scheduled to expire next month. The Education Department said this will be the final extension.

Borrowers will not have to make payments on federal student loans during the moratorium, interest rates will be set at 0% and debt collection efforts will remain on pause. The suspension will expire on Jan. 31, 2022.

08/06/2021

Here is an exhaustive list of credit unions and which bureaus they generally pull from. Knowing which bureau the bank will pull from allows you to know in advance what score/profile you need to work on to get approved.

Credit Unions that Pull Transunion
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1) Navy Federal
2) Alliant
3) Lake Michigan
4) Apple Federal Credit Union
5) Tower Federal Credit Union
6) Trumark Financial Credit Union
7) Corporate America Family Credit Union

Non Credit Unions
💎Jasper MC
9) BMO Harris
10) Apple Card

Credit Unions that Pull Experian
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1) First Tech FCU
2) PSECU
3) Andrews FCU
4) State Department FCU
5) Affinity FCU
6) Redstone FCU
7) NASA FCU
💎Unify Financial FCU
9) American Heritage FCU
10) United Nations FCU

Credit Unions that Pull Equifax
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1) DCU - Digital Credit Union
2) NRLFCU - National Research Lab Federal Credit Union
3) SECU OF MD
4) NIHFCU
5) SIGNAL FCU
6) SkyPoint FCU
7) AgFed Credit Union
💎Interior Federal Credit Union
9) PenFed Credit Union
10) Justice Federal Credit Union
11) Chevron Federal Credit Union
12) Langley Federal Credit Union
13) AOD Federal Credit Union

**Bonus - WoodForest National Bank (Non credit union)

07/23/2021

🚨STUDENT LOAN UPDATE🚨

DECEMBER 2021 FED LOAN will not RENEW their contract with the DEPT OF EDU for Federal Student loans

What to do to protect yourself:

💎Update your contact information with Fedloan Servicing at myfedloan.org

💎Download your Fedloan Servicing account history

💎Create an account on the Federal Student Aid website at studentaid.gov

Over 8.5 million borrowers will be moved to a new servicer & this process will last until Spring 2022

07/13/2021

🚨Bankruptcy can stay on your credit report for up to 10 years!

📞 Call us to discuss your options before you consider bankruptcy.

07/07/2021

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