Understand Credit Fundamentals With Richard Moxley

Описание: In my interview with Richard Moxley, Canadian credit expert, we speak about understanding the fundamentals of Canadian credit, how to best navigate tough financial times and how to quickly improve your credit score when "life happens".

You can find Richard Moxley at his website: www.creditgame.net.

Visit www.chadmoore.co if you have any home equity you would like to use to consolidate your consumer debt.

Thank you for watching and sharing this video. Please comment with questions. I'll ask Richard to respond accordingly.

2:30 - Credit fundamentals.
8:07 - Bill repayment and overall credit score.
8:55 - Recency effect of missed payments.
10:12 - Understanding different credit score algorithms.
12:26 - Second most important credit fundamental.
13:41 - Why credit balance-to-limit ratio is critical to your score.
15:20 - Credit limit discussion.
16:01 - A huge shift in credit inquiries and how they impact credit.
20:05 - Expert opinion on looming credit changes!
21:12 - I press Richard for a prediction on any credit algorithm changes :-).
22:24 - Discussion of navigating difficult credit situations.
24:48 - Richard uses the "F" word ...and then the "B"word.
26:11 - Debt consolidation. What is it? Why?
26:41 - Chad scratches his neck ;-).
26:51 - Debt consolidation with your bank vs third party.
28:21 - Debt settlement. What is it? Pros vs. Cons.
29:54 - I lob Richard a beach ball for him to plug his services :-).
31:19 - What is consumer proposal? Who is it for and why choose this path?
33:21 - Is a house or vehicle required to be in a consumer proposal?
34:20 - How can an insolvency trustee help me?
35:58 - Richard pays me a compliment and I blush like a schoolgirl.
38:08 - Let's talk credit recovery!
41:04 - Where to I get a new credit card? What does that look like?
42:50 - How to transition to a major credit card?
43:45 - What banks might I consider approaching for a major credit card?
44:40 - Should I close my old credit cards?
45:40 - Richard and I wrap up!

[] Chad Moore