Texas-born entrepreneur Arnita Johnson-Hall is an individual who has helped hundreds of thousands of people in the United States fix their credit. This has brought her critical acclaim as massive publications such as Forbes and Yahoo have sought to interview her.
Arnita is also a Board Certified Credit Consultant with the Certified Credit Consultants Association and is also a Certified FICO ® Professional whose primary goal is to educate people on the benefits of having good credit and how to fix bad credit. In this article, we will learn how Arnita ventured into the credit industry and how she is helping change lives through her mission.
When asked why she ventured into the credit industry, Arnita pointed towards the fact that the credit industry lacked resources at the time - in terms of professionals. Back then, a lot of other niches in the finance sector had experts left, right, and center who would provide reliable information to clients and prospects who needed help, but no one did in the credit industry.
This led Arnita on a journey that would eventually change the lives of thousands of women across the U.S.A. When Arnita saw the deficiency in the credit sector, she sought to educate herself on proper ways to properly correct errors on consumer credit reports. In a sense, she chose to become the lacked resource.
Building An Empire
After educating herself well enough about the credit industry's inner workings, Arnita founded AMB Credit Consultants in 2007 - a credit education service focusing on helping customers understand credit reports and how to communicate with the credit bureaus properly.
In 2013, Arnita created Luxurious Credit, a financial literacy blog that helps women become more of the financial being and investment conscious; this, in turn, helps them live luxurious lifestyles. From her path, you will notice that Arnita's primary goal is education.
If more people are aware of how their credit scores affect the quality of their lives, there will be fewer people having deplorable credit scores today. Most people don’t realize this until it's too late, and this is what Arnita is fighting against!
How Bad Credit Reports Are Affecting You:
Today, most people have the notion that their credits report are accurate and free from blunders - when the fact no other statement can be further from the truth! According to recent studies, a whopping 79% of all credit reports contain errors, and 25% of those errors may cause an individual to be denied credit.
"With over 68 million people in this country who have bad credit or unfavorable scores, one can't help but wonder how many of them are being denied credit and access to wealth-building due to errors being displayed by the credit bureaus on their credit reports." Arnita shares.
This is why it's essential to have at least good knowledge of how to read credit reports in order to fix the inaccuracies that are on them.
Arnita's Top Tips For Fixing Bad Credit Reports
First and foremost, Arnita urges anyone seeking good credit to form the habit of auditing their expenses at the end of every week. This will help a lot in the long run as they will observe reckless spending habits and cut down on unwanted bills. When you save, you set out money aside that you would otherwise be spending on not worthwhile. The habit of continuous spending over a lengthy period can build lousy credit.
Asides from this, another life-saving habit she recommends is creating a budget and knowing your debt-to-income ratio. It’s important to keep track of what’s coming in and what’s going and what you can afford to pay when looking to apply for credit.
Another recommended way to improve your credit report is understanding that just because information is being reported onto your credit reports doesn’t mean that is accurate. It best to monitor your credit at least once a month and if an inaccuracies, dispute with the credit bureaus immediately. Also don’t be afraid to go the source to have information corrected. For example, if your credit card company is reporting the wrong balance, reach out to them so that they can properly update it and report it to the credit bureaus.
Although we've spoken about how habits affect credit in an earlier paragraph, there is still one more detrimental habit that people can't seem to overcome; paying bills late. Over the years, Arnita has met countless women who share that the problem isn't the amount they are meant to pay but the fact that they forget to pay their bills. To help overcome this, Arnita suggests that you either pay your bills promptly or sign up for automatic draft. Electronic bills are a more preferred option these days as they help tremendously in the process of logging your spending.
In addition, she recommends paying your bills on time especially the ones that are being reported onto your credit report. It’s vital that you don’t go past 30 days late when paying your bills because it will have a negative impact on your credit report and credit reputation.
The word "Bad Credit" shouldn't always have to bring you down to your knees. Having sound knowledge of how the credit industry operates should help clear the doubts and issues you have with your credit reports, and this is what Certified Credit Consultant Arnita Hall Johnson aims to do - Enhance your knowledge about the credit industry.