Credit Coaching by Kristi

In the not too distant past, smaller medical debts that become collections were no longer allowed to be added/reported to your credit report. Unpaid medical debt remains the leading cause of consumer credit damage.Well, a Texas judge recently overturned that and well... the CFPB (Consumer Financial Protection Bureau) doesn't seem to be putting the gloves on to fight this fight. So what can you do if this is your struggle? The Fair Debt Collection Practices Act [https://www.ftc.gov/legal-library/browse/rules/fair-debt-collection-practices-act-text] (FDCPA) prohibits harassment and requires validation of debts. The Fair Credit Reporting Act [https://www.ftc.gov/business-guidance/privacy-security/credit-reporting] (FCRA) lets consumers dispute inaccurate or duplicate debts.If you’re struggling with medical debt, check whether your state, county or city offers assistance programs.UndueMedicalDebt.org [UndueMedicalDebt.org] Explore nonprofit aid organizations. Groups like the Healthwell Foundation or PAN Foundation may help with treatment costs or prescriptions. Questions@creditkristi.com

I read an article that gave some startling stats on Gen Z's: a BIG percentage are quite nervous, or more like anxious, about their credit profile. Many have not even checked their credit before! Yikes! If you are or know a Gen Z, please share this episode with them so they can learn the 5 pillars that is the foundation of their credit scores. Having a solid credit profile is essential to have a great financial plan. And my newest book is now available! Pick up your copy at https://a.co/d/hPA81Aw Questions@creditkristi.com

Do you utilize Buy Now, Pay Later loans? A few of them had shown up on credit (Affirm is known for reporting) but many only appear on your credit report if you are late or it becomes a collection. But starting Fall 2025, BNPL loans will be added to your credit profile, which can help lots of people with thin or no credit to establish a credit profile. If you are struggling with debt and need help or a way out from under it all, consider https://www.nfcc.org/ to negotiate with your creditors for better terms and rates. These are non profit credit counseling agencies. Please DO NOT go to National Debt Relief or a company similar. They will destroy your credit and stick your creditors. Check out my Peopling book: https://a.co/d/6xC7A6F [https://a.co/d/6xC7A6F] Questions@creditkristi.com

What is credit, really? It's usually... debt. This is why Dave Ramsey teaches and preaches the way he does- saying don't use credit cards. It's because most of us need guard rails against going into debt and getting into trouble. Our society is being taught to borrow for everything- your furniture, your cell phone, and now, even your groceries with Buy Now Pay Later Loans. I am going to throw a lot of info at you on this one, but take in the debt numbers and realize that as a country, we are in trouble- and I am not even talking about the $37 Trillion in National Debt. I am talking about that sizable household debt- even aside from mortgage loans- that are suffocating and burying us with debt payments. It's causing anxiety, frustration, friction and even health problems. Questions@creditkristi.com

Student loans were in forbearance for several years but now, for most people with student loans, the expectation and requirement is to repay those loans with scheduled monthly payments. But approximately 24% of those with outstanding balances are not making payments! Yikes! This is wrecking havoc on credit scores and profiles, not to mention potentially keeping people from getting approved for auto or home loans. If you are one of the MILLIONS of people with student loans now back in repayment, listen in to the details. Questions@CreditKristi.com