Has Credit Profiling Gone Too Far?

Driving While Black, Flying While MidEastern/Muslim...most will admit that the science of profiling when over-zealously applied or even abused is unfair. But there is a type of profiling most people readily submit to that touches all. That is credit profiling. FICO, Emperica, and Beacon scores are numerical representations of systematic statistical profiling of everyone's credit history. And while none of these formulas factor in race, age, gender, or any other protected classification; we still need to be concerned on exactly how the bureaus an the bans are using this information.

I stumble across this news story and was astounded. As an credit industry professional this was the first time that I ha heard confirmed that banks were analyzing anything other than monetary financial data in determining credit worthiness. The notion that where I shop either a store, vendor, neighborhood, etc predicts my ability to pay is going too far. It smacks of secret big brother tactics. I want to know if an how companies are interpreting an applying such subjective, personal info. Watch the video an give me your feedback. I will certainly be following this issue more closely.

I culdnt figure out how to embed this vieo but its worth going over to ABC News to see.

http://abcnews.go.com/video/playerIndex?id=6748132

Can I Really Work from Home?

In my work as a financial counselor, one of the toughest obstacles to overcome is loss of a job or long term unemployment. For single parents navigating the job market after losing a job can be particularly challenging because of issues with childcare, scheduling flexibility, or difficulty continuing education. However, the increased popularity of telecommuting may be an option that can help minimize certain difficulties to create a win-win for the employee and the employer.

More and more companies are embracing the the strategy of using home-based employees as a cost-cutting measure an enticement to attract and keep valuable trained employees. Everyone recognizes that employment advertising, training, office space are three of the biggest and necessary costs that a business lays out. Advances in technology and the public's general familiarity with its use, have given many companies the ability to allow certain employees to work virtually with the same if not better efficiency than in an office.

Technology and IT professionals were some of the first workers to benefit from this trend.programmers, help desk associates, network administrators are a few of the positions that regular post for telecommuters. If you have a background in this industry or are considering re-training, this field consistently advertises legitimate, high-paying work from home opportunities.
The customer service call center is an industry that is also embracing the use of remote agents. Customer Service is a field that touches every field of business in one way or another, so people from a variety of educational disciplines or business industries might be qualified to assume position with companies providing this service. Everyone from airlines to retail establishments to financial services companies might hire entry level to mi-management personnel to work from home.

But as great as all of this sounds, trying to find these openings can be like looking for a needle in a haystack. One reason is that companies want to ensure the same customer confidence in their staff at home as in their staff in the office. That's why many companies wont always readily advertise that a position is virtual. Another hindrance in finding this type of position is the proliferation of work from home ad scams. You've heard the stories or even responded to the ads that ask for big money to get trained, hired, or get access to listings. Or one of those sketchy business opportunities which is really just pyramid scams masquerading as a job opening. Definitely BEWARE! Do your research.

I am going to help you out to get started. I've done some initial research and identified a few companies offering legitimate work from home opportunities. As I find others, i will sen out short blasts on this blog and please you o the same. Also feel free to post feedback on companies we should beware of. Make sure to include labels work from home op, or scam as one of the post labels.

Alpine Access - outsources virtual call center customer service solutions to many Fortune 500 companies. Hires throughout the country. Please check the background requirements before applying There is a $45 fee at last check for a background an credit check if you are offered a position. All disclosed an explained very well on website. Background in multiple disciplines welcome, call center, customer service, or virtual experience a definite plus.

AscendOne - as of this post AscenOne had no openings for virtual or remote agents but regularly hires for this position throughout the country. Background in mortgages, sales, financial services, or credit desired. Will consider experience in lieu of degree for most positions. Bi-lingual a definite plus with or without experience.

AccountNow generally lists openings thru large employment sites like Monster.com, but you can forward your resume directly to Jobs@accountnow.net . Positions are regional with most recent openings in SC. Agents provide customer service to prepaid debit card customers.

Catch these News stories on the topic

News 4 Greenville, SC 12/05/08

WBZ TV (Boston) 2008/9/24

Excerpt from my Upcoming Book

Hi all,
This is the preface from my upcoming book, Online Credit Coach: A Step by Step Playbook to Scorng Financial Victory. It s schedued for publicatin an release n April 2009. Be on the lookout. This is not just a motivational book, its not a complicated theoretical diatribe. Its a hands-on, practical guide to organizing your finances, improving, your credit, an building your net worth. Its a workbook format that you can complete at your own pace. By following the guide and completing the exercises you are learning but also applying the concepts to your personal finances. I guarantee that for someone who doesn't know where too start this will be the easiest an most powerful self-help book you will ever find. In the meantime, if you need guidance right now, call or IM me. Post your question to this blog or check out some of the current resource books listed in our bookstore. .

Merriam-Webster defines a coach as one who instructs on the fundamentals of competitive play and directs strategy to defeat an opponent. Today’s consumer marketplace is as competitive as any athletic field. For many families, the obstacles between them and financial well-being seem as impenetrable as the Baltimore Raven’s defensive line. These obstacles might include under-employment, layoffs, illness and medical expense, rising fuel costs, inadequate/expensive childcare, and more. Contrary to popular belief, lack of money is not usually the root of the problem. Lack of planning is usually the core issue.As a Certified Personal Finance Counselor, I usually meet my clients for the first time due to a current or ensuing dilemma. Maybe they’ve been turned down for financing for a car or home. Perhaps they have fallen behind or are about to fall behind on bills. Collectors are calling nonstop and attorneys are threatening to sue them in many cases. Even when they are making their payments on time each month, most of them are one missed paycheck away from disaster. Does any of this sound familiar to you?As your OnlineCreditCoach, my job is to whip you into financial shape. First thing you need to know is that we are a team. On the playing field the only thing the fans see is the completion of plays that result in either scoring or turnovers. In terms of your personal finances, the only thing your friends and family will see is you attaining your goals or living in frustration and dissatisfaction. Bottom line is: I can’t be successful if you are not successful. So we each bring something to the table. You bring the resources, goals, and drive and I’ll bring the training, expertise, and motivation. Together we have the framework for success.Second, this is a process. The football coach needs to be able to recognize talent, to direct conditioning and practice, research opponents, and to plan the strategies for a win long before the team sees the victory. In the same sense, The Financial Fitness Playbook will help you recognize and optimize the resources with which you have to work. This book will increase your knowledge of the concepts and terminology needed to make smart money choices. And finally, I will share the techniques and tools I have used personally and with my clients to execute the OnlineCreditCoach game-plan.That’s right! I have used many of these techniques myself. I’m a single parent. In 1999, I suffered an injury which resulted in the loss of one of my eyes and left me with a permanent visual impairment. I was unable to work for two years after. The financial, professional, and emotional devastation seemed insurmountable. I’m not telling you this to evoke pity or sympathy, but instead to inspire you. Hopefully you will never suffer this type of setback. And even if the circumstances that caused you to pick up this book are comparatively as serious; there is hope! You just need to claim it.That’s not to say that this book is the “Hail Mary” pass that leads to the game-winning point for the Cinderella team in the Final Four. That would be too good to be true. Also, don’t expect your drive to the goal to be unopposed. You know what they say about the best laid plans. Emergencies come, priorities change, and techniques that work for me, may not work for you. For some of you, changing your attitudes and behaviors is going to be a biggest battle along the way. But you can do it! And I want to help.Finally, I’m a sports nut. (AS if that wasn’t apparent) A lot of what I was taught about discipline, perseverance, strategy, motivation, and character was developed and tested first during childhood sports. While attending the University of North Carolina Chapel Hill, I made a friend who has since retired from professional sports and has become a sports agent. (I’m working on being able to drop his name in a future edition of this book, but until then he shall remain nameless, lol.) He invited me to speak to some of his young clients regarding resolving college debt and long term financial goals. In his introduction, he paralleled my advice to that of a “credit” coach or trainer. The name stuck as did the analogy. I promise to ‘chill’ with the sports jargon from here on out so you won’t tire of me and throw in the towel. LOL.

Why Supply-side Theory Hasn't Worked for the Last 8 Years

Although the US is not technically in a recession since the GDP (gross domestic product) has increased minutely in each of the last two quarters; the American economy is still suffering under the growing federal deficit. The current leadership seems to subscribe to the supply side economic theory that supports decreasing the tax burden of consumer and corporate citizens “to stimulate enough economic activity to keep revenues from falling.” (McEachern) Admittedly, supply-side economics develops from the fundamentally accepted invisible hand principle; however, several other factors of consumer and government behavior add variables that cause the practical application of this theory to be flawed. So while most people applaud the idea of lower tax rates, this is a short-sighted victory if not combined with a severe cut to national spending.
Spending that exceeds revenue is not a new issue in American economics. There have been three major reasons that justified this excess spending over the years. Capital spending that increase the country’s capacity for production is one. Investment in better roads and new plants, in improving the quality of public education, or even health technology research increase production. Graphically this economic growth would be represented by an outward shift of the production possibilities frontier in the next period.
Another justification for deficit spending is to provide services that serve to redistribute wealth. Transfer payments such as unemployment go up when the economy is slumping increasing spending at a time when revenues are also lower. As people live longer, continued funding of the Social Security program represents a potentially ongoing increase in spending on individuals whose contribution to the revenue pool is decreasing. The Social Security system represents a prime example of good politics prevailing over good economics. The average American cringes at the suggestion that Social Security will not be there when they retire even though depending on Social Security as one’s primary retirement strategy has been proven an ill-advised decision. (Tanner) Good economics suggest privatization or self-directed national retirement savings would be more efficient and monetarily effective for the consumer. Politicians, however, are accountable to the local masses who for the most part call for saving the present Social Security system at all costs.
Finally, spending for national defense has always been considered a acceptable especially in times of crisis. The costs of homeland security and wars in Iraq and Afghanistan have required hundreds of billions of dollars in additional spending. Economists note that increased spending on defense in the 80’s is what derailed the benefits of the Reagan era tax cuts. (
To balance our budget and start reducing the deficit, spending will need to decrease and/or revenue has to increase. President Clinton was able to create a budget surplus in the late 90s by increasing tax rates to increase revenue. Clinton did not face the escalated challenges of financing several wars and anti-terrorism efforts. However, increasing taxes enough to balance current levels of spending might cause more harm than good. The Laffer curve demonstrates that at some point, increase revenue from tax hikes will slow and reverse as the tax burden discourages consumers to work.
The government, like everyone is subject to scarce resources which means there is not enough money for politicians to fund all the programs that the people want. Economic stability will certainly require curtailed government spending especially reviewing our defense spending allocations. The monetary costs of the war in relation to other defense spending or even non-military spending can be represented on a PPF. However there are nonmaterial costs to weigh also. Our perception as a team-leader in international politics represents one such opportunity cost. Attention to other international issues such as global warming and human rights is another.
In a socialist society the issue of deficit wouldn’t exist because the government would only produce what was needed to sustain its society. Revenue would equal costs of these services since everyone willing to bare their equal share of those costs as they would receive equal benefit. There’s be no incentive to overproduce or over spend as economic growth as a government priority is secondary to providing for the social welfare of all citizens. In a purely capitalist society, the government would only supply services up to the amount that the people would be willing to pay more. The invisible hand at work in the market place dictating what products and services will be produced as each individual pursued his own self interest (McEachern) The expectation of the government to take care of the sick or elderly who don’t have human capital valuable enough to trade in the free market would not exist.
America is a mixed economy though strongly rooted in capitalist tradition. There is a presumed expectation that the government will guarantee our safety at all costs, will ensure the well-being of those that cannot do so for themselves, and will act to promote economic prosperity for generations to come. As accepted parts of our society, we must understand that these benefits come with a price. The country’s continued economic health depends on its citizens reasonable contributing to the revenue pool and to our government diligently restraining its spending.

Sources Cited

McEachern, William A. Economics
Yanner, Michael. “Saving" Social Security Is Not Enough. http://www.socialsecurity.org/pubs/ssps/ssp-20es.html

Free Trade: Friend or Foe

Free trade expands the market for US goods and services and increases the quantity, quality, and variety of goods and services available to the American consumers. Certainly some sectors might benefit more from expansion of international trade than others will. However, in an open market environment, comparative advantage should ultimately lead to specialization that will allow multiple players to prosper. When countries with different specialties trade with a minimum of restriction, each one benefits. This essay will discuss how expansion of open market trade will reduce the need for artificial fiscal and monetary policy actions to reap the gains of trade and how globalization promotes increased investments and economic growth
Several gains are achieved from international trade. Trade promotes the efficient allocation of resources to production activities. Climate, availability of natural resources, and education of workers are factors that influence what products or services a country is most aptly able to produce. McEachern notes, for an example, that the US has lower opportunity costs for the production of many technological and industrial capital goods, as well as, several agricultural products. Thus it makes sense to produce more of these goods and to export the excess while importing goods like coffee or crude oil which Venezuela can produce with lower opportunity costs. (McEachern 409). Specialization and trade allow both countries to enjoy lower average costs of the goods it produces while still enjoying a wide variety of available choices.
In the US, the industrial and agricultural industries benefit greatly from international trade because the US production of industrial goods and grain crops exceeds its consumption. Likewise, most any industry globally in which production outweighs the nation’s consumption would benefit from trading. Large US corporations historically benefit from international trade because factors of production such as labor are often less expensive abroad. Opponents of expanded trade often complain that the loss of jobs, especially lower paying, unskilled positions, creates a financial hardship on average American citizens. Granted, some jobs will be lost due to this phenomena; however, this would also allow Americans to focus resources on sectors where we can be most productive. The US has the educational resources and a variety of other capital inputs that ensure expanded trade would result in the creation of better jobs. Also, American’s already high standard of living would be boosted as imports create a variety of less expensive choices that allow citizens to spend less and save more to enjoy the products they want to consume.
Despite these likely benefits, countries often enact legislation or fiscal and monetary policy that stifle the self-correcting forces of competition in a flawed attempt to promote its productivity and market share. Protectionism is an economic policy of restricting the import of certain foreign goods or promoting the export of domestic goods. Some examples of protectionist policies are tariffs, quotas, and export subsidies. Other methods also exist. Tariffs are taxes imposed on foreign goods Tariffs increase the price of both the foreign good and its domestic counterpart. While the higher price will drive increased domestic production, it also cause decreased domestic quantity demanded. (McEachern 411). Import quotas set limits on the quantity of a certain product that can be imported into a country. Export subsidies are incentives paid to exporters to offset the additional cost that foreign protectionism adds to the export of their goods. Generally protectionism results in loss to the consumer. It results in higher prices and less available choice. Also the opportunity costs of continued production of protected products means the economy is not functioning at its highest potential. When the removal of these type of barriers is reciprocal, however, market factors should eventually stabilize the types of losses that tariffs artificially protect against.
A major factor in the minds of Americans who are concerned about the effects of trade expansion is the ongoing trade deficit in the US. Trade balance deficits occur when a country imports more than it exports. Exporting more than one imports result in a trade balance surplus. Large trade deficits imply to them, an unnatural dependence on foreign goods. However, this could also be interpreted as foreign countries increased dependence on American consumption. The scale of American imports speaks to the prosperity of the American people.
“In reality, trade deficits tend to be pro-cyclical, growing when the economy expands and contracting when the economy slows or slips into recession. The trade deficit "improved" during each of the three recessions the nation has suffered in the past quarter century -- in 1981, 1982, 1991, and 2001. With the help of payments from Gulf War allies, the current account actually moved briefly into surplus in 1991”. (Free Trade Bulletin 1).
Most industrial nations import more than they export. Over time, the capital goods we export will help other nations improve their standards of living and create new markets for more American products.
So is the case supporting the Dominican Republic-Central American Free Trade Agreement (CAFTA). It proposes to reduce tariffs and quotas on certain raw materials such as sugar and finished products such as clothing in its most simplistic interpretation. In return, Central American countries will remove tariffs on agricultural products such as beans and grains. CAFTA would reverse certain protectionist interventions that each country had imposed. CAFTA includes a small basket of products that total less than 1% of the US Gross Domestic Product according to the Progressive Policy Institute (Gresser 3). In the long run, CAFTA represents the movement toward the free flow of goods, money, and ideas that can help reduce America’s trade deficit. Included in the agreement are certain labor rights protections that will eventually move the Central American countries closer to US wage parity and worker safety regulation. This could potentially create a new middle class sector of consumers for American goods. In addition, increased overall welfare in the region promotes the stability needed for these governments to address political problems such as drug trafficking and corruption that have plagued the region. The spillover of these problems is felt in the US, so we have a vested interest in all measures that expedite the control or resolution of these issues.
Research suggests that free trade agreements like CAFTA help to offset exchange rate volatility between proximate countries as financial and monetary systems begin to integrate (Lewis 3). The exchange rates between two currencies specifies how much one currency is worth in terms of the other. Historically, prolonged trade deficits have been associated with depreciation of a country’s currency. Excessive importing by the US results in an increased availability of US currency abroad; however, to date, America has never suffered the kind of catastrophic depreciation in foreign exchange rate that some countries have endured. This is mainly because its major trade partners often use the US currency gained from export to re-invest in US financial securities without converting the dollar to their own currency (Lewis 20). Thus recent concern over the dollars depreciation should not prompt protectionist interventions.
“Instead of manipulating the currency, policymakers should keep their eyes on the sound fundamentals that ultimately determine its value. The most important are low inflation, an open and flexible economy, fiscal restraint, and an attractive investment climate, including reasonable regulations and low tax rates.” (Another View 2)
In essence, globalization refers to the worldwide trend toward the freer flow of trade and investment internationally and ultimately the integration of the global economy. Monetary and fiscal policy attempts to influence markets under this emerging environment are often counterproductive. Government efforts to actively but or sell currency could decrease substantially if market forces were allowed to set the price of currency. As McEachern demonstrates, often revenues from tariffs often do not offset the increase in price and opportunity costs to the consumer. So as a fiscal policy, protectionism is flawed.
Because it expands economic freedom and spurs competition, expanded trade raises the productivity and living standards of people in countries that open themselves to the global marketplace. And per Adam Smith’s invisible hand theory, smaller government, increased international welfare, and economic prosperity will be enhanced as artificial trade barriers are removed.
Works Cited
Gresser, Edward. “The Progressive Case for CAFTA.” Progressive Policy Institute Policy Briefs. July 2006. 02 July 2008, .
Griswold, Daniel. “Another View: Dollar's Slide Boosts Exports. Let markets, not politicians, set currency exchange rates.” Online Posting . 15 Nov 2007. USA Today Business Editorials. 03 July 2008

---. “Are Trade Deficits a Drag on U.S. Economic Growth?” Free Trade Bulletin 27 (2007):
1-4.
Lewis, Mervyn K. “International Financial Deregulation, Trade, and Exchange Rates”. Cato Journal 13.2 (2003): 1-33.
McEachern, William A. Economics: A Contemporary Introduction, 7e. Mason: Thompson Southwestern. 2006.

Pro Athlete Gives Back during Foreclosure Crisis

Earlier this summer, as our legislators wrangled with the magnitude of how the foreclosure crisis was affecting major financial institutions; I read that NBA star Shaquille O Neal was working on a “bailout” plan for the people. Apparently, O Neal and representatives from his real estate investment company met with Orlando city officials about partnering to help local residents save their homes from foreclosure and to develop affordable housing for those that had already lost their homes.
I have not heard anymore about the details, but I commend O’ Neal for trying to give back to the community. And while I would hope any effort the star would lend his name to would be beyond reproach, I still caution everyone out there to BEWARE of the many foreclosure scams that linger to catch the unsuspecting homeowner.
When we are drowning in debt and the weight of past due mortgage payments is weighing us down like a lead anchor, we tend to grasp at anything thrown out as a life preserver. However, it is vital that you do your research on any organization offering foreclosure relief. A couple of quick suggestions:
Check them out with the Better Business Bureau and your state’s Attorney General’s office (Consumer Affairs division).
Ask for a written copy of the Agreement or Terms of Service before you sign Power of Attorney, Mortgage Documents, Contracts, or Promissory Notes.
Avoid companies that ask for large up-front fees to assist you.
Do not give your banking info to these companies.
Consider contacting a reputable nonprofit housing counseling agency instead.

Retirement Jobs: Good News for Older Workers!

dded by Paul Megan; 17/02/2007 - 21:00


According to AARP, the mature work force is one of our greatest national assets.
Two important trends are making a big difference in today's work force.
1. More and more people are expressing a desire to continue working later in life well past the normal retirement age.
2. Boomers are starting to turn 60 this year. Many of them are taking advantage of early retirement or looking to make other shifts in their careers. As a result, some industry sectors are experiencing labor shortages. Retiring workers often take with them irreplaceable institutional knowledge and experience.
Increasingly, companies are viewing older employees as a solution to their workforce needs. Many are developing effective strategies for appealing to older workers.
This coincides with the major reasons for working in retirement (according to research by AARP):
--need the money (61%)
--desire to stay mentally active (54%)
--need the health benefits (52%)
--desire to stay physically active (49%)
--desire to remain productive or useful (47%)
Older workers offer a potentially attractive solution to both short- and long-term staffing challenges. Making use of this growing pool of talent, of the collective experience and knowledge of veteran workers, is sound business--a plus for employers and employees alike.
So, what should you do if you're at the point where you're entertaining retirement employment? Here are three important preliminary steps:
1. Take the time to explore all your options. This is the time in your life to think outside the box.
2. Identify a variety of desirable employment opportunities. Don't think only in terms of your resume.
3. Get introduced to decision-makers in those opportunities to discover firsthand what's going on. Those non-interview, informal discussions can lead to job offers.
The final good news is that there is a proven system that can walk you through the job search process step-by-step and have you entertaining your next job in a matter of days. Turn your job search into the career adventure of a lifetime!

About the Author:
Paul Megan writes for EEI, the world-class pioneer in alternative job search techniques and non-traditional career advancement strategies . . . since 1985. Grab our stunning FREE REPORT: "How To Lock Up A High-Paying Job In 14 Days (Or Less)!" Click on RSS. http://www.fastest-job-search.comArticle Source:http://www.freearticles.co.za/career/retirement-jobs-good-news-for-older-workers.html

Will entering nonprofit credit counseling or a debt management consolidation hurt my credit score?

Periodically I will post my responses to the most Frequently Asked Questions that I receive. I plan to include links to other sources that support my response, and you are welcome to comment and post others that you feel either support or refute me. I'll be the first to admit that there are so many variables that might affect an answer that don't presume to have the ONLY RIGHT answer. I am perpetually learning in this business because the only thing that remains constant is change (as someone else once said).

Will enetering nonprofit credit counseing or a debt management consolidation hurt my credit score?

Since whether or not you participate in a debt management plan is not a factor in the FICO scoring model, then entering such a plan IN ITSELF won't affect your credit score. However, because it may take your creditors some time to approve the terms of your dmp, if you pay the reduced program payment or pay after your normal due date before your plan is approved, you will most likely be reported t credit bureaus as late, incur fees., and accumulate a past due balances. any lates or past due will negatively impact your score of course even when paid through the dmp company.

It i easy to see the advantages of the dmp when you have fallen behind or when falling behind is inevitable due to reduction or loss of income. The lower payments, waived fees, an reduced interest that you often get on these plans may be the only way to avoid financial disaster no matter what happens to your credit score. Obviously if you are current on your payments and have the ability to continue paying as agreed, you should contemplate heavily whether the benefits of the dmp plan outweigh the negatives.

Some of the considerations that might suggest that a dmp is still a good option for a cu rent client would be:

• If you have high balances, are near or over your credit limit, or can only afford the minimums. At best, paying only the minimums on credit cards or revolving lines of credit will take you around 10 years to pay off and depending on your interest rates could take double or triple that time.
• If your creditors have suddenly started raising your rates, lowering your credit limits, or closing your lines of credit. This indicates something about your usage and/or payment history on this or any other account triggered a red flag that you may be overextended or headed for distress.
• If you have high interest rate. For example, at 18% APR if your creditor is billing you 2% of your balance (average in industry) , then 75% of that minimum is going straight to interest. Then if you add late fee or over limit fee, in many cases your balance might be going up even if you make a payment that month.

The bottom line is that, if you fall into any of these categories, your score is probably already dropping whether you realize t or not. In these case, improving your overall financial health and NOT obsessing on your credit score should be your priority.

Now if you are current and do not fall into any of these categories you mat want to consider any of the following as alternatives to the dmp:

• Call your creditors to request in-house programs that may be available
• Borrow from family to pay off bills then pay family back
• Self-Help. Check out one of the recommended books available in our online store or your library. Take a money management course online or in person. Check the Online Credit Coach calendar or call me at 866.416.5952 to schedule a FREE seminar for your organization or group.
• Unsecured consolidation loans if you can find one with terms more favorable than those on current accounts.
• Secured consolidation loans where you use car or home or other valuables for collateral

I will discuss these options in future posts.

You may want to check out thee inks fo more information:

MyFico.com FAQs about DMP and Credit Score

Federal Trade Commissions Knee Deep in Debt

Let Me take this Opportunity to Introduce Myself

Hi There,
I'm Meredith McAllister, your Online Credit Coach. I am a Certified Personal Finance Counselor and a Certified Housing Counselor. I attended the University of North Carolina at Chapel Hill where I pursued a BA in Business. I have over 20 years in the financial services industry including experience as a loan officer, credit counselor, mortgage default and foreclosure intervention specialist, community organizer, and trainer. My passion is education and training. I enjoy working with the youth and adults to re-build the sense of community and progress. I'll tell you more about me in future posts.

Merriam-Webster defines a coach as one who instructs on the fundamentals of competitive play and directs strategy to defeat an opponent. Today’s consumer marketplace is as competitive as any athletic field. For many families, the obstacles between them and financial well-being seem as impenetrable as the Baltimore Raven’s defensive line. These obstacles might include under-employment, layoffs, illness and medical expense, rising fuel costs, inadequate/expensive childcare, and more. Contrary to popular belief, lack of money is not usually the root of the problem. Lack of planning is usually the core issue.
As a Certified Personal Finance Counselor, I usually meet my clients for the first time due to a current or ensuing dilemma. Maybe they’ve been turned down for financing for a car or home. Perhaps they have fallen behind or are about to fall behind on bills. Collectors are calling nonstop and attorneys are threatening to sue them in many cases. Even when they are making their payments on time each month, most of them are one missed paycheck away from disaster. Does any of this sound familiar to you?
As your OnlineCreditCoach, my job is to whip you into financial shape. First thing you need to know is that we are a team. On the playing field the only thing the fans see is the completion of plays that result in either scoring or turnovers. In terms of your personal finances, the only thing your friends and family will see is you attaining your goals or living in frustration and dissatisfaction. Bottom line is: I can’t be successful if you are not successful. So we each bring something to the table. You bring the resources, goals, and drive and I’ll bring the training, expertise, and motivation. Together we have the framework for success.
Second, this is a process. The football coach needs to be able to recognize talent, to direct conditioning and practice, research opponents, and to plan the strategies for a win long before the team sees the victory. In the same sense, The Financial Fitness Playbook will help you recognize and optimize the resources with which you have to work. This book will increase your knowledge of the concepts and terminology needed to make smart money choices. And finally, I will share the techniques and tools I have used personally and with my clients to execute the OnlineCreditCoach game-plan.
That’s right! I have used many of these techniques myself. I’m a single parent. In 1999, I suffered an injury which resulted in the loss of one of my eyes and left me with a permanent visual impairment. I was unable to work for two years after. The financial, professional, and emotional devastation seemed insurmountable. I’m not telling you this to evoke pity or sympathy, but instead to inspire you. Hopefully you will never suffer this type of setback. And even if the circumstances that caused you to pick up this book are comparatively as serious; there is hope! You just need to claim it.
That’s not to say that this book is the “Hail Mary” pass that leads to the game-winning point for the Cinderella team in the Final Four. That would be too good to be true. Also, don’t expect your drive to the goal to be unopposed. You know what they say about the best laid plans. Emergencies come, priorities change, and techniques that work for me, may not work for you. For some of you, changing your attitudes and behaviors is going to be a biggest battle along the way. But you can do it! And I want to help.
Finally, I’m a sports nut. (AS if that wasn’t apparent) A lot of what I was taught about discipline, perseverance, strategy, motivation, and character was developed and tested first during childhood sports. While attending the University of North Carolina Chapel Hill, I made a friend who has since retired from professional sports and has become a sports agent. (I’m working on being able to drop his name in a future edition of this book, but until then he shall remain nameless, lol.) He invited me to speak to some of his young clients regarding resolving college debt and long term financial goals. In his introduction, he paralleled my advice to that of a “credit” coach or trainer. The name stuck as did the analogy. I promise to ‘chill’ with the sports jargon from here on out so you won’t tire of me and throw in the towel. LOL.