Never Pay Collections Or Charge-Offs - YouTube

Never pay collections or charge-offs.  

Did you hear me? Let me say that again. Do you  have bad credit and you're trying to fix it?  

Well, we are not going to be paying any  collections or any charge-offs but we are  

still going to fix your credit in a major  way. I'm going to show you how. Let's go.

So, let's talk about credit because this  is so important I know so many people  

want great personal credit. I literally started  off with very, very bad credit. I'm talking 520 or  

something score like that. I literally started off  like in this credit game and learning about this  

in my parents' basement, okay? I was a dejected,  bankrupt, broke person investing in real estate  

doing some wholesaling from my parents' basement  and I now have a credit score over 800. So,  

this is very easy to do and I'm going to tell  you exactly how to do it and share with you  

some of the mistakes that I made along the way  so that you don't make those same mistakes. So,  

when it comes to personal credit, you know that  you have 3 credit bureaus. There's Equifax,  

there's Experian and there's Transunion. And when  it comes to personal credit, you have those 3  

bureaus and they will report all of the different  debts that you have. So, if you have auto loans or  

if you have credit cards, if you have student  loans, if you have mortgages; those will all  

report on your personal credit report as trade  lines. And depending on how well you pay them,  

if you pay things on time, how long you've had  the accounts, you will have a credit score. In  

most cases, we call it a FICO score. If you want  to find out what your fico score is or access that  

for a very cheap price, I'll make sure to put a  link below to MyFico. But the important thing when  

it comes to personal credit that you need to know  is that you can affect your credit score really  

easily and you do not have to be a victim of the  score that they have given you. That was probably  

the biggest thing. I thought that I had a very low  credit score and I literally didn't do anything to  

fix it until many many months and years later when  I could have just started fixing it immediately.  

I felt like, "Well, I have bad credit. I got  foreclosures. I got a bankruptcy. I got bad  

credit. I just have to have bad credit." And I'm  sure you probably have those same things. But it  

is not true at all. You literally can clean  up your credit report in a matter of weeks  

and I'm going to tell you some secrets on why  and how you can get it done without spending any  

money in the process. So, let's talk about what  affects your credit score like I said, we all  

have trade lines and all of the different trades  and things that people have given you will report  

on your credit report. But there are different  things that affect your credit score. And this is  

very important for you to know. So, of course, you  have different trade lines. If you have auto loan,  

that is considered an installment type of loan.  But if you have a credit card for example, that is  

considered a revolving type of account because the  amount is variable and it is a revolving account.  

And then you have mortgages. That is a different  type of account. A mortgage is a mortgage it is  

different from a revolving or an installment  account. So, you want to have a different mix  

of the different types of accounts that you have.  You want to have a car loan. I know some people  

are afraid of debt and they don't want any debts  and they don't want a car loan. But if you want  

to have a good personal credit score, you probably  should take out a car loan at some point in time.  

You probably should borrow money and buy a house  if you want to have a good credit score. So,  

the bottom line to it is you want to make sure  that you know what affects your credit score.  

And the different types of accounts are one of the  things that affects your credit score. The next  

thing that affects it is how well you pay those  trade lines, how well you pay those accounts.  

Do you pay them late? Do you pay them on time?  Do you pay them 30 days later? You pay them 60  

days later? 90 days late? That's going to be  a big factor in your credit score. How much  

of the credit you use? So again, what type of  accounts? How well you pay them? And then what  

the balance is to the amount that they gave you  --the limit. That's going to affect your credit  

score. That's called your debt utilization rate.  And then you have debt ratio. So, credit bureaus,  

they're very smart now. All this AI, artificial  intelligence. They can predict about how much  

money you make just based on some factors. And so,  they actually kind of do a simulated debt ratio of  

how much money they think you make based on how  much debt you have on your credit report. And so,  

that will affect your credit score too. So,  let me give you all the secrets to how you  

actually maneuver this with this information  because I have some good info for you guys. So,  

if you're watching this video, I'm assuming you  probably have some bad credit issues. Kind of like  

how I have where you have some collections or you  have some charge-offs. So, let me quickly tell you  

the difference though between a collection and a  charge-off. So, say for example you have a credit  

card, let's just use Capital One for example  because I literally this was my situation. I'm  

just going to use me. I'm not gonna use anybody  else. I had a Capital One credit card, you know,  

in like 2002 or whatever they gave it to me when  I was like you know 21 years old or whatever.  

And I like did use... I used it and then when  I didn't pay it, they would call me all the  

time and you know, I didn't have the money so  I didn't answer the phone. And then eventually,  

they sent it to collections, okay? And that is  after they what we call "charged it off". So,  

the company itself, okay? The Capital One company,  they will keep calling me, keep calling me and  

trying to get that money. Eventually, if I don't  pay them after you know 4 months or 5 months or 6  

months... Every lender has their own guidelines on  how long they'll try to contact you and get money  

before they charge it off. Meaning before  they're like, "Okay, this is not collectible.  

Noelle is a deadbeat, she's not going to  pay us. Let's just go ahead and let's just  

charge it off." And so what they do is they say,  "You know what? She's not giving us that $300.  

We're writing it off. It's a loss. Okay?"  And then they send it to collections, okay?  

So, there's collection companies and collection  agencies. Probably you guys know what I'm talking  

about and they will call you on old credit card  bills and old cell phone bills and all this other  

stuff and try to get money from you. And the thing  about it is you really need to understand this  

game because it is so important. They literally  bought that debt for pennies on the dollar,  

okay? Collection agencies buy charged-off debt.  And then any of the money that they collect, they  

get to keep okay so once it's charged off they  bought the debt and if they bought it for $15 like  

on a credit card like say you charged off $300,  they probably bought that debt for like 10 bucks,  

just being honest with you. So, if even if they  got 20 from you, they got more than they would  

have gotten. But let me tell you the secret to  the game because I need you to understand those 2  

things. And now, I'm going to give you the secret  sauce on how you maneuver through all of it.  

So, before I get into that secret sauce. This is  an awesome time. If you are loving this content,  

please make sure you smash that like button, and  please share this video with anyone that you think  

this content could be useful for. I want to make  sure I'm helping as many people as possible so get  

to sharing. So now that you know the difference  between collections and charge-offs and then kind  

of what happens you know they charge the debt off  and then they send it to a collections agency and  

then that agency is essentially a new debtor,  okay? Because they have purchased that debt. So,  

here's the secret on how you maneuver this. Okay,  guys? And this is from real-world experience. Not  

only for my own bad personal credit but for me  being a vice president at some of the largest  

banks, okay? And working in mortgage and finance.  I know this stuff. I'm not just telling you...  

Additionally, I have a master's  degree in economics from Penn State  

and I have an MBA from baylor. Alright? So, I'm  not just telling y'all stuff. Noelle knows this  

stuff in and out. The lender that has charged  you off or has you know put you in collections,  

they have the burden of proof, guys. Okay?  So, now that they have reported this to your  

credit report, alright? And this is on your credit  report. You can dispute those things and they have  

to prove that it's you. And the key to this is  you don't have to actually ever say that it's you.  

So, when they call you on the phone, the  collection agency is calling like, "Hey,  

I have this Capital One bill and you didn't pay  then this that any other car. Speak to Noelle."  

I'm sorry, you have the wrong number. *Click* And  I hang up. I don't even talk to them, okay? I do  

not ever admit that it's me. I don't have to admit  that that's my credit card. I don't have to admit  

anything. The burden of proof is on them. So,  the key that you want to make sure that you are  

doing and you do not fall into this trap, do  not confirm it's you. Do not confirm the debt.  

Do not start making payments. Or if they  say... You know, because they're calling you,  

they want to harass you because they want you to  pay them... Remember, they bought that debt. So,  

this collection agency, that's their entire job  is to collect money from you. So, they'll call you  

every single day. They don't care and that's their  business. And it's up to you to know this rule.  

So, I'm telling you something that most people in  the world do not know. Don't answer their calls,  

do not admit to the debt, do not do any of  those things, okay? Because what you are doing,  

unfortunately, if you do admit and you get on  that recorded line because they always call you  

from a recorded line, right? Am I right? I know  click that little... Let me get some comments  

below. How many have gotten that call you're on a  recorded line? "Yeah, okay. Bye." I'm hanging up.  

Do not talk to them on that recorded line because  now they have you. So, if you're trying to fix  

your credit and you have these situations the last  thing that you want to do is say, "Yeah, I did it  

it's me and I didn't pay." Because at that point,  now we don't have the wiggle room. And of course,  

Noelle is not a lawyer. I told you all those  degrees I have. I never told you I was a lawyer.  

So, you know you can talk to your attorney. But I  know the laws. And the law is they have the burden  

of proof and I also know the law is you would  have to admit and confirm that that debt is yours.  

And I am telling you unequivocally, you don't have  to do that. Okay. Because I am cooking now. I am  

loving this content. And I am like... Because this  is amazing. I wish people had told me this. That's  

what I'm telling you, guys. Okay? So, I'm telling  you, alight? So, instead of actually paying those  

collections and debts, here's my promise, here's  what I'm telling you you should do instead.  

You can get those things removed. You can actually  take the time and you can put in letters and you  

can get those things removed from your credit  report. Alright? And I'm actually going to put  

a link below to kind of help you with some of  that. And then I'm actually even have a whole  

video that I've made. I'll make sure I'll put a  link to that on how to get these things removed  

with some letters, with some templates so that  you can use. So, I'm giving you everything that  

you need, okay? But if you don't have the time to  do this and you instead of paying that company for  

that old debt, you would be better off to pay a  credit restoration company instead of paying that,  

okay? I literally have paid for credit  restoration. And I'm not talking about credit  

repair. That's something different. And again,  I have a great credit restoration company called  

creative credit solutions. Again, I'm not being  paid any money for this. This is just a company  

I've used. He's a good friend of mine that owns  the company, Justin. And he's amazing and he's  

helped lots of people, lots of my clients, and  he has helped me, okay? So, you want to make  

sure if you have issues or if you're wanting to  pay a little bit of money to settle these debts  

instead of selling, giving them that money, you  can give it to a company and they can get all of  

this cleaned up and get you a really good credit  score fast. So, there you have it. You will never  

pay collections or charge offs ever again. You now  have the information you know what to do. If you  

have any questions with this size, you can always  call my office. Our phone number is 888-479-4542.  

Again, I do not do credit repair neither does my  company. However, if you have questions or you  

need access to resources, my company, we are here  to help you and we will refer you to a company  

that we have used and that we have trust if you  need help with this. Additionally, you should  

not spend a lot of money on this. So, I'm going to  tell you about companies that are very affordable  

with that I know that they were effective  and affordable. So, if you need that help,

888-479-4542. Again, I just want to make sure  you have all of the knowledge, all of the tools,  

and all the resources that you need to be  successful. This is Noelle. To your success.