The Best Way to Go from No Credit to Good Credit

The Best Way to Go from No Credit to Good Credit (H1)

Building good credit is a catch-22 situation; how can you build credit when no one is willing to lend without a credit history? The truth is, there are some strategies that you can take to gradually build and establish a decent credit history and, subsequently, make you a viable applicant and potential candidate for lenders.

In addition to getting a free credit report to understand how you look to lenders, below are a few things that you can do to establish and build good credit so that you can get the loans you need.

Pay your bills on time (H3)

The first thing to do to build credit is to maintain and pay your bills on time. Paying bills late can be reflected on your credit report, which could impact your ability to secure credit later on. This includes bills such as your car payment, cell phone, and even your household utilities. While it is a simple and somewhat obvious step, it is often overlooked and reveals to lenders your ability to manage your current finances.

Apply for a secured credit card (H3)

If you want to start building credit, plan on applying for a secured credit card. This is usually a line of credit that is extended up to the amount of the security paid by the applicant, and that uses the applicant’s own funds as collateral on the loan. Many consumers find that these are a good option to maintain unanticipated expenses or emergencies.

Like the above tip, you’ll want to pay your card off every month. The idea is not to carry a balance and to never spend more money than you can afford. Remember, you’re trying to build credit here, not buy things that you may not necessarily need.

Use the 20 percent rule with credit card balances (H3)

Another way to begin building a positive credit history is to pay off any lines of credit or cards each month. If you are starting out with a secured card, keep your use to around 20 percent of your available credit. Pay it off every month, down to $0, to build a good credit history.

For example, if you have a credit limit of $1,000, you don’t want to use more than $200 in credit each month. This shows creditors that you are in control of your finances and prevents you from falling into a cycle of debt that you can’t get out of.

Avoid quick fixes (H3)

When a financial crisis happens, it may be tempting to borrow money wherever you can find it. Avoid alluring offers for applicants with bad credit or no credit, including payday loans, buy-here-pay-here auto dealers, or other high-interest options. The terms of these agreements are often unreasonable, and could jeopardize your credit rating if you struggle to pay your installments.

Join forces with family members with good credit (H3)

If you have a family member with good credit, adding your name to the account as an authorized
user may raise your credit rating. This must be done with the primary account holder’s permission, of course; even if you never use the account, the member’s activity may help you build good credit, as long as the account is in good standing.

You can go from no credit to good credit (H3)

Sometimes it may seem as though having no credit is as difficult as having bad credit. Take steps to preserve and gradually build a solid credit history, and avoid situations that could compromise your future credit rating. Over time, you should be able to establish a credit history that makes you a promising applicant for financing, loans, and lines of credit from any institution.

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Phoenix Litigation Attorney LaShawn Jenkins Files Civil Rights/Wrongful Death

Lawsuit in Rumain Brisbon Shooting Case

Based on “a hunger and a thirst for liberty, justice, and equality for all Americans,” litigation attorney LaShawn Jenkins has filed a civil rights/wrongful death lawsuit in a case involving the shooting of an unarmed man by a Phoenix police officer and getting national attention for his efforts.

It is the latest case for Jenkins, who founded his firm in 2009. Although his firm handles a gamut of cases — everything from bankruptcy to landlord-tenant rights — this type of case has special significance for Mr. Jenkins due to his passion for social justice and his desire to help people using his knowledge of legal issues. It was the reason he went into law in the first place.

Mr. Jenkins is representing the family of Rumain Brisbon in the federal lawsuit. Brisbon was  an unarmed man who was shot in the back at point-blank range by a Phoenix police officer, Officer Mark Rine.

Officer Rine said he was at Brisbon’s apartment complex investigating a suspected drug deal when Brisbon pulled into the lot. Rine told Brisbon to step out of his car with his hands up.

Officer Rine has stated that he believed Brisbon was armed and was reaching into his waistband for a gun. A chase followed, and when Rine caught Brisbon he believed he felt a gun in his pocket, and that is when he fired two shots in self-defense.

Mr. Jenkins, however, said that the evidence and witnesses say otherwise.

Rumain Brisbon, said Mr. Jenkins, was returning from getting dinner for his family when he was confronted by Officer Rine in the parking lot of Brisbon’s apartment complex. Rine, according to Mr. Jenkins, “had no probable cause to arrest him [or] detain him. Nonetheless, defendant Rine attempted to engage Rumain Brisbon in conversation.”

Instead of talking with Rine, Brisbon “exercised his constitutional right to keep walking without engaging in conversation” with the officer. Rine charged after him, grabbing his left arm and holding it behind his back. Brisbon was forced into his apartment by Rine, at which point, Rine drew his weapon and ordered Brisbon to the ground.

Brisbon was unarmed and had his hands up as if he were “scared or surrendering” the entire time. Officer Rine shot him in the back, and despite the fact that Brisbon was seriously wounded, he shot him again in the side. The autopsy report stated that Brisbon’s spine was severed and some of his internal organs ruptured.

Brisbon was shot while lying face down on the floor of his apartment, in front of his small daughter and his girlfriend.

Mr. Jenkins described the event as a “serious, violent, wanton and unreasonable use of force.” The lawsuit lists assault and battery, wrongful death, deprivation of civil rights, intentional infliction of emotional distress, excessive force/police brutality, negligent training and supervision amounting to deliberate indifference, and survival act (damages for funeral and medical expenses and conscious pain and suffering).

Mr. Jenkins announced the lawsuit surrounded by Brison’s oldest daughter and other family members. The lawsuit is seeking  $65 million in damages.

For more information on the Rumain Brisbon case, see this article from the Phoenix New Times.

Like Brison’s family Jenkins Law Firm wants to help clients deal with legal issues. If you have legal questions or think you have been wrongly harmed, please contact Jenkins Law Firm at 602-483-4394 today!

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How to Avoid IRS Penalties with Bankruptcy

When an individual becomes overwhelmed with debt and has an abundance of federal taxes that were not paid and are past due, a way to be relieved from these IRS obligations is to declare bankruptcy. Those who have past due taxes will be hassled by the IRS and receive fees based upon how late their tax filing is. They will become even more unable to pay their federal taxes than they were before this. Filing for bankruptcy is not the only way to free someone from federal tax debt, but it is one of the easiest ways.

What is bankruptcy?

When an individual declares bankruptcy, they are stating that they have become overrun with debt and can no longer pay their bills, and they are also unable to pay them off in the future based upon their current income and amount of savings that they have. There are two different forms of bankruptcy, chapter 7 or chapter 13, chapter 7 being more for individuals who are most likely not going to be able to pay even a portion of their debt off within a period of time.

What are the positives of declaring bankruptcy?

The most common sought out aspect of declaring bankruptcy is a freedom from debt as well as a freedom from debt collectors. When an individual declares bankruptcy, it makes it so that collectors can no longer seek them out and hassle them over their past dues. Declaring bankruptcy in most cases will allow individuals to keep their homes when they could otherwise lose them due to being overwhelmed with bills.

What are the negatives of declaring bankruptcy?

After an individual declares bankruptcy, his or her credit score will take a large hit. This can take quite a while to improve again, but it is likely that those needing to file bankruptcy already have a poor credit score and this allows them to rebuild instead of keeping it in a downward slope. You may lose some of your possessions or properties that are not protected, as well as lose all of existing credit cards to avoid any further debt. Declaring bankruptcy makes it very difficult for individuals to obtain mortgages.

How do you file for bankruptcy?

When an individual decides they have no other choice but to declare bankruptcy, they should get into contact with a lawyer. Jenkins Law Firm is able to confirm whether or not bankruptcy is the best option and will be able to assist individuals with the legal process and how to declare a status of bankruptcy.

Do you still need to file with the IRS after declaring bankruptcy?

Although filing for bankruptcy is a way to get out of the hassle of dealing with collectors, filing taxes with the IRS is still a necessary component to any working person’s life. The yearly tax return forms must still be turned into the IRS if applicable, and according to the IRS website individuals have a four year period after bankruptcy declaration to file all tax forms.

Contact Jenkins Law Firm today for more information on how to avoid IRS penalties.

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