*Ebony Cochran, founder of Blackwood Credit Services—one of Detroit’s leading credit consulting firms—has launched a free, online political-style campaign to educate people about credit literacy in an effort to increase their credit scores.
Cochran for Credit, a three-month campaign that runs until Sept. 1, is a series of online Periscope sessions, Snapchat question-and-answer videos and Facebook live chats, where she provides tips and counseling about building credit.
“Credit is a twisted game, and those who sign up for it don’t always know the rules,” Cochran said. “The rules are especially confusing for people who don’t read and understand all the tiny, deliberately obscure fine print, which is where the details are. The goal of the campaign is to teach more people about the rules buried in the fine print that they don’t know to look for or simply don’t understand.”
During the free social sessions, Cochran elaborates on her top tips, which include:
1. Request your credit reports, and review them for accuracy.
2. Don’t be quick to pay off bills sent to Collections; doing so can hurt your credit score.
3. Pay off open debts from smallest to largest.
4. Understand the credit scoring formula.
5. Don’t get “credit happy” and apply for several lines of new credit.
Cochran, an entrepreneur with other ventures in the tax preparation industry as well as in the beauty industry, said she realized the importance of knowing credit rules during the time she was in the market to purchase a home. She dedicated a lot of time to learning how to increase her own credit score to more than 800. Now, she’s turned her wealth of knowledge into a new business.
“With a low credit score, it’s becoming increasingly hard to get a good interest rate on cars, auto insurance, mortgage and even jobs,” Cochran said. “With the right guidance—my guidance—people can increase their credit score, and keep it high.”
Keep up with the Cochran for Credit campaign on cochranforcredit.com, and tune in to Periscope at 7 p.m. every Thursday on Periscope @blackwoodcreditservices.
source:
Teia Harris
[email protected]
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