FAQ's
Coming Back Strong
In the Catholic version the bible verses come from the Saint Joseph version of the bible and the quotes are replaced with the most popular Saints and prayers. Q - What version of the bible did you use? A - The New King James Version for the Christian and the Saint Joseph version in the Catholic. Q - Did you say that both programs are exactly the same except for the bible verses? A - Yes Q - How can the versions be the same if the quotes are different? A - The stories, verses, prayers and quotes are not intermingled with the text. They are on separate pages Q - Are the prices the same for either of the version? A - Yes Q - Are the books the same number of pages? A - Yes
Frequently Asked Questions and Answers
A - Having too much credit available to you will hurt your credit score and alarm mortgage lenders. Keep in mind that you want to use no more than one-third of the credit available to you on any one card. The real question is how much credit do you need each month and can you manage your payments on that debt? Having too much credit available to you can be a dangerous temptation and could get you into trouble all over again. Q - Is using credit counseling services a good idea? A - No. My personal opinion is to stay away from credit counselors. If you are working to get a mortgage loan and have "CCC" (Consumer Credit Counseling) listed on your credit report, it is the kiss of death for five years. Virtually no mortgage lender will work with you for a minimum of five years. You can go through a bankruptcy and foreclosure and almost any mortgage lender will give you a prime loan in two years. Have you ever wondered why consumer credit counseling services are non-profit? These services will take over your finances and work out a payment schedule and all of this will cost you nothing. Most people mistakenly assume that these consumer credit counseling services are government funded, but they are not. These services are funded by tax-deductible contributions from the credit card companies. Why would they do that? The answer is simple. If you claim a bankruptcy that wipes out all your credit card debt; that is a loss to the credit card companies. However, if you choose a five-year plan with the consumer credit counseling services, the credit card companies are then assured of receiving that debt. Consumer credit counseling services have actually become a profit center for the credit card companies. Q - My home is almost paid for. Should I take out a second mortgage to pay off all my debt -- credit card, car loan, school loan? A - ABSOLUTELY NOT! As I said in the Introduction, bankruptcy can happen to anyone at anytime. Being smart, or a good money manager, doesn't give you immunity from financial devastation. Credit cards and school loans are unsecured debt. If you take a loan (second mortgage loan) against your home to pay off that unsecured debt you are exchanging it for secured debt. If you have a financial reversal and get behind on your credit card or school loan, the worst thing that can happen to you is they sue you and get a judgment. If you pay off that unsecured debt by taking a loan against your home and get behind on your new second mortgage payments, you will be facing a foreclosure and could lose your home. There is no tax advantage or interest rate savings that can justify putting your home at risk. If you purchase a car, let it stand on its own. It is better to have a car repossessed than have your home foreclosed on. Q - Is it a hard and fast rule that all lenders use the credit score of 680 points as the dividing line between prime and sub-prime loan? A - No. There are a very small number of lenders that set the line for a prime loan as low as 620 points. Others set the line as high 720 points to qualify for a prime loan. Generally, the vast majority of lenders have the criteria of 680 points or above to qualify for a prime loan. Before you make any loans, find out the requirements of the lender you are working with. Q - When I am ready to start applying for credit cards, how many at a time should I apply for and which ones are the best to get? A - Between the discharge of your bankruptcy and by the time you have gotten your credit score in better condition you will have started receiving credit card applications in the mail. Never apply for a card that requires a monthly or annual fee and avoid cards that have a high rate of interest. When you have selected the cards you want to apply for, do it one card at a time. When you receive a card, use it sparingly for a month or two and make a couple of payments before you apply for another one. It will help keep the inquiries down on your credit report and show that you have a card in use that is being paid as agreed. Q - Do all insurance companies check my credit report before they will insure my house or car? A - Not all insurance companies check your credit report, but the vast majority does (even though it is against the law in some states). If you start having problems with insurance after your bankruptcy, then you need to start shopping around for a better deal. It may take some time, but you can find a better deal. If you are over the age of 50, a good place to look for insurance is AARP. Q - When I go car shopping which credit report should I take with me? A - The best thing you can do is take a fresh tri-merge report with you because it will have your information and credit score from each of the three bureaus. Since you pulled the tri-merge yourself it will not reflect as an inquiry on your credit report. Q - How does a bankruptcy affect my insurance? A - There are literally thousands of horror stories about people who have suffered at the hands of their insurance companies after filing a bankruptcy. It's not at all uncommon for insurance rates to increase by 300 percent to 500 percent for some people who file a Chapter 7. Q - How does my credit score affect my insurance? A - Starting in 1970 the Fair Credit Reporting Act allowed insurance companies to use your credit report (and score) in determining your risk factor. In fact, automobile insurance companies rely more on your credit than they do your driving record. The use of credit reports for insurance decisions is a major factor in the homeowners market, too. Oddly enough, it is not legal in most states, but it's done anyway. There have been a number of legal arguments against this practice, but the insurance companies insist there is a direct correlation between poor credit and loss ratios. Q - How can I save money on my insurance? A - Some ways to save money are: Never buy car or homeowners insurance without shopping around. Once you have established insurance with one company, it can sometimes be a financial advantage to switch companies, like Wayne did. Avoid speeding tickets; they can make your rates go through the roof. Be a safe and defensive driver. Sometimes it is better to drop your comprehensive policy on older cars. Check the value of your older car. In some cases, the savings for a year or two could replace the car.
Avoid making small or useless claims on both your car and homeowners policies.