Odom & Law Financial

💰Cash is King but Credit is Power!🔋

This is the truest statement made in today’s history.

I had a client that was relocating to Texas. Credit score wasn’t so great. She explained her situation and said that she wasn’t a “credit” type of person. She uses cash to make her purchases and she doesn’t believe in credit cards.

I told her that I understand, however in todays world and market for buying or leasing a home; credit IS power! She goes on to explain that she is on the fence because lately it has been much harder to make major purchases and things like that.

Fast forward a week or so later, we applied for a few properties and of course she was denied.

She offered to pay double— even triple deposit and landlords denied that too. I say all of that to say, get your credit in order and invest in yourself, you deserve it!💳✨

She’s finally enrolled in our credit program and she will become a homeowner next year.🗝🏡✨

🤍💳 | Investing in yourself should be the motto this year.

Whether you hire a professional or DIY— it’s imperative that you check your credit profile & credit scores on a consistent basis; at least every 30 days.

🤍💡 • 30-45 days are typically timeframes when the credit bureaus add, update, and/or remove accounts on the consumers credit report.

🤍➡️ • If you’re planning to purchase a home and/or vehicle soon then it’s a MUST that you keep tabs on your credit report.

🤍📝Things to check for:

✅ Personal info (old addresses - previous employment)

✅ Inconsistencies with dates, balances, & misspelled companies, etc

✅ Charge-offs, debts included in bankruptcies, medical bills, etc.

Don’t quite understand the credit report? We’re always here to help ya!!☺️⬇️

https://www.odomlawfinancial.com/book-a-consultation

💡 Should you remove closed accounts?✨

➕Yes, if the account(s) had multiple late / missed payments!

➖ No, if the account(s) are in good standing and payments were made on time!

✨ Closed accounts can also have a big impact on your credit utilization ratio. This is because closing a credit account will lower your overall borrowing limit. This means that if you have balances on other credit accounts, your utilization ratio will go up.

Do you have closed accounts? Comment “closed accounts” below and/or your question(s).

To check your debt-to-income (DTI) ratio, follow these steps:

1. Calculate your total monthly debt payments: Add up all your monthly debt obligations, including mortgage or rent payments, car loans, student loans, credit card minimum payments, personal loans, and any other monthly debt obligations.

2. Calculate your gross monthly income: Add up all your sources of income before taxes and deductions. This can include salary, wages, bonuses, commissions, alimony, child support, rental income, and any other regular sources of income.

3. Divide your total monthly debt payments by your gross monthly income: Once you have both figures, divide your total monthly debt payments by your gross monthly income, then multiply by 100 to get your DTI ratio as a percentage.

For example:
DTI Ratio = (Total Monthly Debt Payments / Gross Monthly Income) * 100

A lower DTI ratio indicates that you have a lower level of debt compared to your income, which is generally seen as favorable by lenders. It’s essential to keep your DTI ratio within acceptable limits to qualify for loans and manage your financial obligations effectively.

An authorized user is someone who is allowed to use a credit card account by the primary cardholder. The primary cardholder adds the authorized user to their account, and the authorized user receives a card with their name on it. Authorized users can make purchases with the card, but they are not legally responsible for repaying any debt incurred.

Being added as an authorized user on someone else’s credit card account can benefit you in several ways:

💳 Building credit: If the primary cardholder has a good credit history and makes timely payments, being an authorized user can help you build or improve your credit score.

💳 Access to credit: As an authorized user, you can use the credit card to make purchases, which can be convenient if you don’t have your own credit card.

💳 Learning financial responsibility: Being an authorized user allows you to learn how to manage credit responsibly without the full responsibility of being the primary account holder.

However, it’s essential to be cautious when becoming an authorized user. Make sure you trust the primary cardholder to manage the account responsibly, as any negative activity on the account could potentially harm your credit score. Additionally, being an authorized user does not give you control over the account, so you should communicate with the primary cardholder about your expectations and responsibilities.

Odom & Law Financial
- www.odomlawfinancial.com
- [email protected]

Credit Restoration | Odom & Law Financial Need Credit Repair? Get a Free Credit Consultation and we will take a look at your credit report with you. Get your Credit Fixed Fast with ODOM & Law Financial.

Repossession removed✨

BUILD & SAVE both at the same time🎉

Credit Strong is the fusion of a secured consumer installment loan and a savings account. During the life of your Credit Strong account build you build both credit history and savings.

✨ Instantly build revolving credit with no minimum monthly payment required with Credit Strong Revolv

✨ Build installment credit and savings with low fixed monthly payments

✨ Build supersized installment credit with supersized plans CS MAX

Reports to Experian, Equifax, & TransUnion

CreditStrong: Get a Credit Builder Loan that Builds Credit and Savings The credit builder loan you can trust–quick application, small payments, free monthly credit score. Unlock life goals with strong credit!

I absolutely love what I do! So grateful for the many opportunities to assist individuals and families achieving their goals with both credit and Real Estate.

I love receiving testimonials and reviews about our services.

2 major accounts deleted that was preventing her from getting pre-approved + credit score increases within 90 days! (3 rounds of letters)

Super excited about being apart of this process for Shayla and her family on their home shopping journey.

Stay tuned for the updates!🏡🥺💕✨

Odom & Law Financial
www.odomlawfinancial.com
‪(972) 454-0174‬

It’s a celebration here at Odom & Law Financial🥳

546pts total within ALL 3 credit credit bureaus.

Just a quick back story, our client signed up in November 2023 and she’s in process of wanting to buy and close on her home by May 2024.

Client had 6 accounts that consisted of late payments, inaccurate information, and 2 out of the 6 accounts were paid but still showing negative!

She had a high utilization usage of 56% which caused her score to be low and stagnant.

I advised her to pay down her credit cards to 10% (YES 10%) and pay her bills ON time consistently while I disputed the negative items.

Fast forward with 2 months of letters, consistent payments, and paying down her credit card balances, she has 3 deletions & a credit score increase of 546pts TOTAL!

She has 1 full month left and we’ll be ready to house shop!✨💳🏡🥳

Our clients love it here! Looking to buy a home, dream vehicle, and/or simply establish great credit.

We have a $99 special for TODAY only!

$99 link -> https://www.odomlawfinancial.com/enroll-now-2

Credit Consultation - https://www.odomlawfinancial.com/book-a-consultation

Call/Text - ‪(972) 454-0174‬

Bankruptcies, Student Loans, Repossessions, Late Payments? We can assist with removing all of those from your credit report.

Did you know that majority of your accounts have inaccurate information and dates? Those can be disputed!

Schedule a complimentary credit consultation to discuss your credit report.

www.odomlawfinancial.com
📞 ‪(972) 454-0174‬
📧 [email protected]

A repossession can stay on credit reports for up to seven years. The seven-year countdown starts on the date of the first missed payment that triggered the repossession. (Check with you state laws)✨

The classification of a repossession as voluntary or involuntary unfortunately makes no difference, as they are both lumped into the same category.

At Odom & Law Financial we were able to remove the repossession within 6 months + 7 additional negative accounts.

It wasn’t an easy process being that it takes a few steps to make it happen. Nevertheless, we were able to remove it and now our client is almost ready to apply for a mortgage loan.

We have 1 more round and she will be officially graduating from the credit program.🤗🎉

TEXT “Credit” to ‪(972) 454-0174‬ for questions or consultation

📧 [email protected]
www.odomlawfinancial.com

Client Reviews🎉

60pt. credit score increase + 3 accounts updated to positive👏🏾

We have a credit sale: $497 for 6 months

Book a complimentary appointment today!

https://www.odomlawfinancial.com/book-a-consultation

💻 www.odomlawfinancial.com
📧 [email protected]
📱(972) 454-0174