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What is the worst type of credit account I could have?

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  • What is credit?

    In this video, Vikki Frank, Kandance Beamon, and Linda Stroman, financial education providers describe several key areas to address regarding debt reduction and elimination.

  • What is a credit score?

    In this video, Vikki Frank, Kandance Beamon, and Linda Stroman, financial education providers describe several key areas to address regarding debt reduction and elimination.

  • How to Repair your Credit

    In this video, financial planning professional and member of the Financial Planning Association®, Cal Brown, MST, CFP®, describes the four important steps to improving your credit.

  • Checking your Credit Report

    In this video, financial planning professional and member of the Financial Planning Association®, Cal Brown, MST, CFP®, describes the four important steps to improving your credit.

  • Improving your Credit Score

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  • How to Read & Correct Credit Report Errors

    In this video, financial planning professional and member of the Financial Planning Association®, Cal Brown, MST, CFP®, describes the four important steps to improving your credit.

  • What should I do if there is inaccurate information on my credit report?

  • What is debt?

    In this video, Vikki Frank, Kandance Beamon, and Linda Stroman, financial education providers describe several key areas to address regarding debt reduction and elimination.

  • What is a debt management plan?

    In this video, Vikki Frank, Kandance Beamon, and Linda Stroman, financial education providers describe several key areas to address regarding debt reduction and elimination.

  • Why is savings so important for debt management?

    In this video, Vikki Frank, Kandance Beamon, and Linda Stroman, financial education providers describe several key areas to address regarding debt reduction and elimination.

Markita Aldridge
Mortgage Consultant, WestStar Mortgage
www.thelendingadvisors.com  
703-497-3936

Markita has been called :The Queen of Mortgage Financing especially after a BK". Since 2002, Markita has been a top-producing loan officer with WestStar Mortgage located in Lake Ridge, VA. She offers her clients expert service in mortgage financing regardless of credit history. Markita's former career as a professional basketball player with the "Washington Mystics of the WNBA" has been her foundation for creating a TEAM atmosphere when dealing with her mortgage clients. She truly believes Together Everyone Accomplishes More! You can visit her website at <a>www.TheLendingAdvisors.com</a> for more information and several FREE mortgage reports that reveal lending secrets other mortgage bankers don't want you to know!

What is the worst type of credit account I could have?

 

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Host: What is the worst type of credit account I can have?

Markita Aldridge-Woods: The worst type of credit account is with finance companies and what I mean by finance companies, I don t want to name any. However these are companies that solicit you typically by mail, offering you some type of unsecured loan that typically carries an APR anywhere from 22%-27%. Typically, these companies offer you to consolidate debt with them and not that they are not reputable companies out there, but the APR is a red flag that these are really high risk loans; they are unsecured loans, meaning not secured by any property, is absolutely the worst type of account that you could have on your credit.

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