Carolyn Feldman of Nationwide Credit Clearing rejoins us this week to continue the conversation about her services.

Nobody intends to get into debt, but it happens. The problem with so-called “credit counseling” or “debt consolidation” is that you often have to stop making payments on your debts before they can get involved. This will tank your credit score. Carolyn and Paula talk about other ways to handle debt. But if your credit score needs improvement, that’s where Nationwide Credit Clearing comes in.

Not only are they the only legal credit repair company in the country, but they also have industry-exclusive access to your FICO score. They can check your credit score without dinging you to see exactly what’s happening. From there, they are able to dispute any bad marks with the 3 major credit bureaus and potentially have them removed from your report.

Carolyn also talks about establishing credit for someone. When done right, a parent or spouse can co-sign a lease or other document to help build credit. But the pitfall is that if payments are not made, it can sink the credit scores of both individuals.

Do you know about the 30% rule? Using more than 30% of your available credit can damage your credit score. And while it’s supposed to be 30% of your total credit, that’s not what Carolyn has seen in the real world.

We spend some time in this episode talking about all the scams out there. What are the red flags to watch out for? A good resource is RipOffReport.com.

Also in today’s episode, Jon reveals something about his financial history that he’s never talked about on the show before…

To reach Carolyn at Nationwide Credit Clearing, you can call her at 248-254-3315 or send her an email at carolyn@mynationwidecredit.com

To reach Paula Christine regarding any financial questions, visit her website at PaulaChristine.com or email her at Paula@PaulaChristine.com