Motiva Financial Solutions

Motiva Financial Solutions Motiva Financial Solutions is a Financial Planning Firm. Our primary objective is to help our clients regain control of their financial future.

We Specialize in Credit Repair, Tax Preparation, Business Loans & More!

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 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 only pulls from Experian for credit cards?

Credit Karma DOES NOT give you Experian credit report or scores

You’re Welcome 💎

What 5 factors create a Credit Score? 1️⃣ Payment history:Your payment history comprises 35 percent of the total credit ...
10/09/2021

What 5 factors create a Credit Score?

1️⃣ Payment history:
Your payment history comprises 35 percent of the total credit score and the most important factor in calculating credit scores. According to FICO, past long-term behavior is used to forecast future long-term behavior.

2️⃣ Credit utilization:
Credit utilization – the percentage of available credit that has been borrowed – makes up 30 percent of your total credit score.

3️⃣ Length of credit history:
Length of credit history – the length of time each account has been open and the length of time since the account’s most recent action – is 15 percent of your total credit score.

4️⃣ New credit:
While new credit accounts for 10 percent of your total FICO credit score. But this doesn’t mean that opening multiple credit lines at the same time will improve your score. In fact, such behavior could suggest you are in financial trouble by needing significant access to lots of credit.

5️⃣ Credit mix:
Credit mix makes up the last 10 percent of your score. While this is somewhat of a vague category, but experts say that repaying a variety of debt products indicates the borrower can handle all sorts of credit. According to FICO, historical data indicates that borrowers with a good mix of revolving credit and installment loans generally represent less risk for lenders.

1. Clean up your credit report. https://www.myscoreiq.com/get-fico-preferred.aspx?offercode=432125QC you can get your tr...
10/08/2021

1. Clean up your credit report.

https://www.myscoreiq.com/get-fico-preferred.aspx?offercode=432125QC you can get your tri-merge copy of your credit report for $1, or visit www.annualcreditreport.com for free.

Once you have the report, examine everything. In particular, look for any accounts that show late payments or unpaid bills. If that information is inaccurate, the report will show you where to send a dispute.

Keeping a clean credit report isn’t only important for your credit score. It can also affect your job prospects. Some employers pull credit reports before making hiring decisions.

2. Pay down your balance.

However, it’s not simply how much you owe that’s important. It’s how much you owe compared with how much credit you have, a ratio known as your credit utilization rate.

For example, if you have a $10,000 credit limit and a $5,000 balance, your credit utilization is 50%. If you’ve maxed out that $10,000 limit, your utilization is 100%. Pay your balances down between 3%-7%.

3. Pay twice a month.

You might think you’re doing great because you pay off your card every month, even if it’s maxed out. The problem is that your creditors are only reporting balances to the credit reporting companies once a month. If you run up a big balance each month, it could look like you’re overusing your credit.

4. Increase your credit limit.

Maybe you’re not in a position to pay down your balances. You could take a different approach to improving your credit utilization rate: Call your creditor and ask for a credit limit increase.

5. Open a new account.

If your current credit card issuer balks at the idea of increasing your credit limit, apply for a card from a different issuer. It will still help your credit utilization rate, since your utilization rate is based on all your open lines of credit and balances.

6. Negotiate outstanding balances

Maybe your credit score took a dive because you have bills in debt collections. You can’t wipe out past mistakes from your credit report, but you can do some damage control by settling them.

7. Become an authorized user

Finally, be added as an authorized user on someone else’s credit card. This will give you a major jump in your scores if the account holder has good payments.

09/30/2021

🗣️🗣️🗣️Avoid cosigning!!

It is dangerous to your credit score. If the person for whom you cosign defaults, you may not know about it for months. As a cosigner, you’re 100 percent responsible for the debt, including any penalties, and your credit score suffers as well.

08/02/2021

Credit Tip🗣

If you're still overdue on any accounts, do your best to get caught up. Then, try to start paying on time. Once you're back on track, your previous late payments will have less of an impact on your credit score.

Late payments usually trigger late fees. If you think you're going to be late on a payment in the future, make sure to review the account terms first to understand any potential costs that might make it harder for you to get current.

06/19/2021

Credit Rebuilding Tips 💎💎💎

1. Have 4 open and active accounts with NO previous negative history. 😳 variety is key 🔑

2. Keep your revolving balances below 20% of your limit ‼️. Better yet PAYOFF the balance. 💰

3. Remove/Update your inaccurate accounts from your credit report. ( I'm doing this part) 😁😁

4. Pay your reporting bills early and not just on-time. 🙏🏼

5. Avoid any unnecessary inquiries. 🤦🏻‍♀️

6. Do not apply for credit for someone who's not responsible with their own credit. 👎🏻

7. Be patient! You didn't ruin your credit overnight. 😴

8. Sign up for credit monitoring 🔭

9. Stay focused! 🔎

06/16/2021

15 USC § 1692a
(4) The term “creditor” means any person who offers or extends credit CREATING A DEBT or to whom a debt is owed, but such term does not include any person to the extent that he receives an assignment or transfer of a debt in default solely for the purpose of facilitating collection of such debt for another.

Who creates the debt when you sign for the “LOAN? You do! Who extends their credit to the “LOAN” people? You do! YOU ARE THE CREDITOR!

This does not include the loan people who collects the debt.

Your score today, doesn't have to be your score in 72hours. Let us show you how. Book your free consultation today
03/03/2021

Your score today, doesn't have to be your score in 72hours. Let us show you how. Book your free consultation today

What are you doing to close your debt gap?
02/16/2021

What are you doing to close your debt gap?

If you come up with a plan and work that plan, all else will fall in place.What do you want your credit to look like?
02/10/2021

If you come up with a plan and work that plan, all else will fall in place.

What do you want your credit to look like?

02/02/2021

What are your thoughts about credit? What are some of the things you have been taught and told?

Bad credit isn't a death sentence. Trust the process. It begins with action on your part. Message us how
01/29/2021

Bad credit isn't a death sentence. Trust the process. It begins with action on your part. Message us how

Address

1201 N Market Street , Suite 111
Wilmington, DE
19801

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm
Saturday 10am - 2pm

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