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Little-Known Credit Bureaus

MoneyWise / Rob West and Steve Moore
The Truth Network Radio
September 15, 2020 8:03 am

Little-Known Credit Bureaus

MoneyWise / Rob West and Steve Moore

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September 15, 2020 8:03 am

Most of us are aware of the three main credit bureaus that monitor our transactions. But did you know there are several others that are also keeping tabs on you?  On the next MoneyWise Live, hosts Rob West and Steve Moore reveal the various kinds of agencies involved in determining your credit-worthiness. We’ll tell you about the little-known credit bureaus on the next MoneyWise Live at 4pm Eastern/3pm Central on Moody Radio.

Rob West and Steve Moore
Finishing Well
Hans Scheil
Finishing Well
Hans Scheil
Rob West and Steve Moore
Rob West and Steve Moore
Rob West and Steve Moore

How many times have you were to use the three credit reporting on this program and elsewhere. You know, there are at least 10 of the Troy Chen all monitoring your transactions that I never heard of most of them know about you today. Think of advisors, Pres. from West reveals all kinds of credit bureaus You Finish Your Calls at 800-525-7000 805 Five 7000 Times More Known Heroes. That's Not Right Here on Monday.

My Rob off the Bat I Have To Ask Why in the World Do We Need 10 or More Credit Bureaus Have a Fair Question and I Think the Answer Is That Most of Them Try to Cater to Different Lender Needs the Big Three Is so Most People Call Them Experience Trans Union and Echo Facts Are General in Nature. They Monitor How You Handle Transactions for Credit Cards and Mortgages.

Perhaps an Auto Loan That Sort of Think the Others Are What We Might Call Boutique Bureaus with a Highly Specific Client Base. I May Look at Other Areas of Your Day-To-Day Transactions and of Course Many of Them Use Different Formulas and Scoring Ranges to Determine Your Credit Worthiness. Okay so I Guess Having Three Just Wasn't Complicated Enough Right so That We Have a Long List Here. I Guess We Better Get to It. What's First What That Would Be Sage Stream. It Recently Received Some Posts about Publicity When an Individual North Carolina with a Biker Score around 800 Was Turned down for Car Loan Fight Go Wise.

That's an Extremely High Score That Person's Sage Stream Score Was in the 600s and What Would What Would Be the Issue.

There for One Thing, Sage Stream Uses a Different Scoring Range from 0 to 999 As Opposed to FICA 300 850 but Also in Addition to Monitoring Credit Card and Auto Line Transactions SH Streams Looks at Tell Your Cell Phone and Internet Service Transactions.

Perhaps You Didn't Even Know the Score. Monitor Did Not Know I Did Not I Will. It's Good to Know What's Next Well Is Looking a Couple of Them Checks Systems and Serta G Check Services. As You Might Guess from Their Names When They Monitor Your Checking Account of the Big Three Don't Report Overdrafts Unless They Go to a Collection Agency so Banks Use ChexSystems and Sergio to See If You Are an Overdraft Risk and Whether They Should Let You Open a Checking Account Didn't Know That Either. What Else Well in Know This Is Sometimes Called the Fourth Credit Bureau Because It Collects Similar Information to the Big Three but Know This Also Reports on Things like Rent Payments, Utility Bills and Even Magazine Subscriptions. If Anybody Has Those in Our Clarity Services Is Another. It's Owned by Experian, but Focuses on Individuals and Businesses Looking for Alternative Financing, Otherwise Known As the Subprime Market. Things like Payday Loans, Which by the Way, As a Side Note, Are Horrible and You Should Never Apply for One and Other Check-Cashing Services As Well. Another Similar Boutique Bureaus. Steve Is Teletrack, Which Reports to Subprime Credit Card Issuers Rent to Own Businesses and Furniture Stores. Again, More Places Where You Don't Want to Apply for Credit Okay and by the Clock. I See We Have Time for At Least One More so Once or What's Our 10th Credit Bureau and It's Probably Another One We've Not Heard of Right Well That Would Be Credit Co., and of All 10 Credit Bureaus We've Named.

It Might Be the One That Has the Most Impact on Your FICA Score Because It Combines All of Your Transactions from the Big Three into One Report so Very Little Is Missed Credit Co. Looks at Property Ownership Loan Obligations, Legal Filings, Including Liens and Judgments Rental Applications Collection Accounts Even Whether Your Up-To-Date on Child Support.

Interestingly Well Okay so Now All These Other Entities Owned by FICA or Are They a Privately Owned but They All Report in Some Way to FICA Not Owned by FICA Separate Corporations and Entities for Shot.

They All Have. Interestingly, They All Have Information about Me and You. And yet We've Never Signed Anywhere Giving Those People Information Giving Them Permission to Get This Information That's Right That's the World We Live in.

Next You're Going to Tell Me the IRS Knows All about Me and Then I so Is There Anything to Really Worry about Making Some of Our Listeners Are As Worried As I Kind of Am Know You Know It. Hopefully We Have a Cause Worry and If You're Running a Tight Ship Financially.

Don't Worry about Anything Because This Is Just an Accurate Reflection of the Way You Manage Money so Close You Pay Your Bills on Time and Keep Your Credit Balance Is Low.

Certainly below 30% of the Limit of Better yet, No Balances at All You Have To Worry about Credit Bureaus Accurately Reporting Information No Matter What Their Name Buying a Home Is the Largest Most Nerve-Racking Purchase. Most of Us Ever Make. It Doesn't Help That You're Entering a Maze of Unfamiliar Words and Confusing Options That Can Leave You Intimidated Frustrated and Afraid You Been Taken Advantage of Navigating the Mortgage Mates by Dale Vermillion Help You Clear up the Confusion on Rack Your Nerves and Make the Best Mortgage Decisions Possible with Confidence Navigating the Mortgage Made Available When You Click the Start Button Moneywise for 30 Years.

Sound Mind Investing Has Been Helping Christians Reach Their Financial Goals. Step-By-Step Guidance for Investors at Every Stage from Those Just Getting Started, Those Getting Ready for Retirement through Scriptural Principles and Practical Suggestions. SMI Offers Financial Wisdom Information, Including a Short Audio Webinar on Profit and Peace of Mind, No Matter What's Happening in Market Is Available at Sound Mind Investing.Member That Old Man from the 1970s, the Clayton's.

It's the Drink You Have Not Having a Drink on Benny Donna Claims Is Become Part of the Language Clayton's Drink Looks As Though It's Alcoholic, but Really It Isn't Clayton's Anything Is Something That Looks Real but Isn't Question. Is It Possible to Have a Clayton's Person Person Is Not Really a Person Biting His Mother's Womb Is That a Chitinous Person Might Be the Straight People. We Walk around on the Footpath and Almost Always Smelly.

I Chitinous People As Workers in the Factories across Asia Who Make the Toys and Kids Play with the Clients We Offer A Few Sins. And Now I Chitinous People.

Jesus Said I've Come to Bring Good News to the Poor and to Set the Captives Free. I Wonder When He Looks around with.

He Sees Any Chitinous People on This Earth. I Wound That Is Robbing You of Freedom and Peace of Mind. Christian Credit Counselors Can Help Where a Nationwide Nonprofit Counseling Organization Has Helped over 3000 Individuals in the Last 27 Years Get Out Of Credit Card Debt 80% Faster While Honoring That Info to Learn How Christian Credit Counselors Can Help You Visit Christian Credit Christian Credit Counselors.or Call 800-557-1985 to Really Be with You Today Will You Be with Us. Here's Our Phone Number If You Have a Question Rob Weston Anything Financial 800-525-7000 Again 800-525-7000. We Were Chatting Just a Bit about Little-Known Credit Bureaus. There Are At Least 10 of Them Which Probably Means There Are At Least 12 or 13 of Them in Total and If You Worried That Some of These Credit Bureaus May Not Have Accurate Information Will What You Do in That Case, That's a Good Question and You Can Request Your Credit Reports from These Bureaus and Challenge Incorrect Reporting Limit Not Back up and Explain You.

I Would Always Be Pulling Regularly Copies of Your Credit Report. Best Way to Do That Is a Website Annual Credit Absolutely Free of Charge and You Can Hold Those I Do That At Least Quarterly for Each of the Three Bureaus Now If You Were to Spot Something That Is Inaccurate from One of Those Bureau Reports.

The Fair Credit Reporting Act Is What Gives You the Authority to Challenge That Information Directly with That Bureau You Can Do It Online or over the Phone Online Is Going to Be Easiest and Basically You Would Just Say to Them, and Indicate Which Line Items on That Report Are Inaccurate or You Don't Recognize by According to the Act. They Have 30 Days with Which to Either Verify That It's True and Provide Documentation. As Such, or Delete and They'll Notify You in Either Case, so I Would Be Checking That Information. Credit Reports Due from Time to Time Have Inaccurate Information and so by Challenging It, You'll Have It Removed and It Will No Longer Be Factored in to Your Credit Score That Something You Just Need to Do Is a Part of the Normal Course of Business. Okay Great Information and Again We Can Talk about This so We Can Talk about Anything That Might Be Going on in Your Life. From a Financial Perspective, If You Give Us a Call First 800-525-7000. Rob, Let's Go out to Iowa and Lori. Nice to Have You with Us Today. What's on Your Mind like Farmer and Only Caught 1.74% Interest at Our Local Bank and My Doctor Recently Told Me That He Had Been HFA.

He May See Investing That Money in Nature and the Stock Market Are What He's Doing but I'm Wondering If That Action Brought in Excel. What Do You Guys Suggest We Put It in so That I Can like Take Money Out Of That Once a Year When We Carry Files Back and That's a Great Question, Lori. And You're Right.

Some HSA Accounts Let You Invest in Mutual Funds, ETF's, or Even Individual Stocks You Can Build Your Portfolio Yourself or You Could Use One of the More Autopilot Type Approach Is Sometimes Called Robo Advisors Where It's Invested Based on Answers You Provide, and Information about Your Particular Situation, Goals, Objectives, Risk Tolerance, That Type of Thing and Then It's Invested for You and the Nice Thing Is the Gains Are Not Taxable If They're Used for Qualified Medical Expenses. I Would Just Try to Figure out How Much You Plan to Use in Any Given.

Not One of the Beauties of the H HSA Is If You're Relatively Healthy and You Can Max out Your Contributions Then You Can Build up a Balance That Carries over from Year to Year and That Ends up Becoming a Supplement to Your Retirement Because You Can Invested No Money That's Going to Just Wash through the HSA in a Given Year. You Probably Don't Want to Invest Because You May See That Dip down Plus Many of Them Require Minimum Balance. In Some Cases One to $2000 but If You've Built up Potentially in a Couple Years or More Worth of Out-Of-Pocket Healthcare Expenses, Then I Think It's a Good Thing to Consider Beginning to Put That Money to Work for You and It May Mean That You Need Lori to Transfer This HSA to Another HSA Custodian, One That Has a Little Bit More Flexibility You Could Do Some Research Online. I Know HSA Bank Is One That Really Committed to the Space but a Number of the Discount Brokerage Houses Have HSA Options As Well.

Charles Schwab and Fidelity and in Others, and They Would Have All of the Low Cost Investment Options You Be Looking for. I'm Not Surprised That a Local Bank Does Not Give You As Many of Those Options. So I Probably First Consider Is It Appropriate to Invest Some Portion of It, and If so How Much and Then Secondly Begin Looking at the Various Custodians out There and Find the One That's the Best for You. Thank You Very Much, Lori, Thank You Very Much We Appreciate That 800-525-7000 Still Have Some Open Lines, Stone Mountain, Georgia Not Too Far from Either of Us Today or on Any Day of the Silent Thank You Sir for Calling What's on Your Mind, and Social.Monday Marty Gave Him the Remaining Time 506 on All My Life and I Do Have a Large Home with 58. That Meant in This House and I Got to Margate on about $8000. Yet Left Tour and Saving about the Bank and Some Little Confused about It and Unable to Manage at Home Right Now for Gardening and Other Things That Traffic Is Becoming This Place and so to Get Away from Here. Maybe a Year Later It Might Get Some Money Out Of My Retirement Money Probably Should. I Not See the Thing Here Is Personal. We Need to Look at How Much You Have in the Way of Free Cash Reserves Because I Wouldn't Want You to Spend That down Too Much. So Think That's the First Question What You Have Saved up and in Liquid Cash Percent Saving and 500 $600 and Mounted about 98 or $96,000 and I Probably Me Something out and I Backed up and Banks Are Not Doing Much Interest 90 or Hundred Thousand Words That That's Just in the Bank, 97, 95 Okay Very Good and in Terms of the Income That You Have in Your Current Expenses.

Are You Able to Live on Social Security Alone by Stones and Some to Been Thankful That Little Thing. Anything outside My Own Little Bit More about the House You so You Really Plan to Move Because It's More Home Than You Need or Want to 5.5 Acres. Now the Market Is Picking up Maybe Three Years Later.

Right. Lame Call. I Can Get Things You Think You Be Able to Pull Out Of the House.

When You Sell, How Much Would You See 99 Something out. And I Certainly Think Again about the How Much Do You: the Current First Mortgage 82,008 I Think at This Point I Would Keep That Cash There. I Think You Need to Decide How Much You Want to Keep Liquid You Know Somewhere, Probably around Six Months If You'd Be More Comfortable.

You Could Go As Much As a Years Worth of Expenses. Given That You're in Retirement. In a Liquid Account or If Not in Cash or in the Form of a Savings Account. Perhaps in Some Treasuries or Some High Quality Bonds That Could Be Generated Just a Bit More Than the High Yield Interest but Still Very, Very Conservative, and Then the Rest I Think Could Be Invested. I Think You Have an Opportunity Here Because You're Looking to Sell the House. I Don't Think I'd Wait I Mean We Been on the Upswing of a Really Strong Housing Market, Especially in Georgia for the Last Decade and to Wait and Think That This Might Go up Another 50,000 a Short Period of Time When You've Already Decided It's Too Much Home and You're Ready to Move on.

I Don't Think Is This Is the Best Option so I Could Engage a Realtor Begin to Figure out Who Is the Best Person to Come Alongside You Some of You Specializes in Your Area That Could Help You Put This on the Market Get It Sold and Then You Could Buy Something Smaller More Manageable for Cash Be Completely Had a Debt Which Would Further Reduce Your Income Needs and Then You'd Be Sitting on That Six Months to 12 Months Worth of Cash in CDs or High-Yield Savings Probably Maybe Some Treasuries and Then the Rest Put to Work in the Market. You Could Do Build the Stock and Bond Portfolio That Has a Goal of Maybe 4 to 6%. Let It Continue to Grow and That's Money That You Can Give Away or If You Had a Major Medical Expense down the Road You Can Use That As Well so That's the Plan. I Would Plot out from Here. Be Sure to Pray about the Shot and Then Proceed.

Thank You Very Much for Calling Wishes and Have a Great Day. The Sun, and Don't Forget, Here's Her Phone Number 800-5257.

Most Couples Can't Talk about Most Money Books Expected. How Can You Create a Pay down Debt. If You Can Even Talk about Spending or Saving. If You Get Tense about Your Just Plain Avoid Many Conversations Altogether Thriving in Love and Money like Chante and Jeff Felt Hot Is for You and It's Your Screen When You Donate $25 or More to Moneywise Thriving in Love and Money for a Better Relationship Not Just a Better Project.

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Thank You for Calling Today Sir What's on Your Mind You for Taking My Call Stock Market and Family and Friends Are Telling Me That This Is a Good Time in the Stock Market Get into the Stock Market.

So I I Had Heard about like Some Apps like I Think One of Them Is Called Robin Hood Where They They Take the Change from Purchasing and Rounded up and That's What They Invest for You like It Very Much, but When I When I Try to Figure out If That Was a Good Thing to Do. Some People on the Internet for Greater Works Fine. I Love It That Other People Are like This a Stupid Use Only Invest If You Know What You're Doing and This One Guy Gave His Whole List of Books and Stuff to Read, Which Is Probably Why I've Never Gotten the Stock Market Share. No You Is This a Good Entry Point for like Another Sorry Just like a Waste of Time and Money. Yeah, Absolutely. And I Would Say Any Point Is a Good Entry Point Warren Because the Key to Investing Is Not Trying to Pick the Time to Enter or Exit the Key to Investing Is Just Being Systematic so You Want to Get the Right Kind of Account Open and If It's Money That Is Going to Be Long-Term in Nature, Meaning You're Thinking Retirement in about 20 or 30 Years down the Road Pending on Your Age and You Just Want to Put Money Away That You Can Build up over Time. That's Great. Then You'd Open a Retirement Account Starting with a 401(k). If Your Job Has Matching and If Not Then I Look at an IRA or If You're Self-Employed, There's Some Other Options but the Key Is You Want to Get the Right Kind of Account Open and the Reason We Typically Think in Terms of Retirement Is You When Were Investing.

We Want to Make Sure We Have At Least a 10 Year Time Horizon so That We Can Weather the Ups and the Downs of the Market so You Don't Have To Know Whether This Is the Top or the Bottom Is the Market to Be Higher. Six Months from Now Than It Is Today. Nobody Knows That If They Try to Tell You They Do Their Not Being Truthful but Doesn't Matter Where It's Gonna Be in Six Months Because We Know That If Were Looking 10 Years out, the Market At Least Historically Speaking Has Always Done Well. It's Been the Very Best Place to Build Wealth over Time. So Once You Decide on the Type of Accounting You Have To Choose the Investments and If You're Just Getting Started Using One of These Online Robo Solutions Can Be a Great Thing. These Are Fairly New, but They're Very Low Cost and the Key Is Their Very Highly Diversified. So If You Something like Better Mentor the Schwab Intelligent Portfolios or Something like That, You'd Open an Account Could Be a Retirement Account or Taxable Account. Again, Make Sure You Have the Right Time Horizon and Then You Begin Systematically Investing. Let's Say You Can Carve out $250 a Month or I Don't Know What You're Thinking, but a Meaningful Amount Based on the Questions That You Answer Going into It When You Set It up It Would Automatically Using the Algorithms behind It. Build a Portfolio Using Something Called an Exchange Traded Fund, Which Is since Essentially a Basket of Investments and It's Gonna Mirror the Broad Moves of the Market, Not One Particular Highflying Stock with the Broad Market in Various Sectors, International and Domestic and Small-Cap Meaning. Smaller Companies and Large Meeting the Large Capitalization Companies in Different Sectors. Technology in Financial and Healthcare and the like and You'll Have a Nice Cross-Section of the Market and by Systematically Investing, You're Going to Do Something Called Dollar Cost Averaging, Which Means You're Buying It Different Entry Points Summer Hire Some Are Lower, and When the Markets down Your Buying More Shares with the Same Amount of Money, but Then Fast Forward 10 or 20 or Even 30 Years and If You Do This Faithfully You'll Have a Significant Amount of Money That You Could Use to Supplement Your Social Security Do Some Other Giving Maybe Even Use As an Income Source so I Think That's the Big Idea Now. Something like Acorns for That 70 Is Just Starting out and and It's That's What You're Talking about When You Talked about the Rounding up. It's Called Acorns Is Fine to Build up A Lot Of Money There but It's a Nice Way to Counter Back into Some for Savings without Really Missing the Money.

But Really the Way You Want to Do Investing Is in a Meaningful Way. Long-Term Strategy. So Let's Do This. You Mentioned the Book Got One for You. It's Called the Soundbite Investing Handbook down the Line Will Just What You Needed More and Something Else to Read the Way, Thanks for Your Call Today 800-525-7000 You Listening to Investing Is More Than Just Return It's an Expression of Who You Are and What You Value Is the Way You Invest Your Money like Your Identity As a Christian at Eventide. We Designed Investments for Performance and a Better World so You Can Invest with the Confidence to Reach Your Financial Goals While Remaining True to Your Christian Values and Commitments. We Call This Investing Makes the World Rejoice More Is Available. Invest Christian Healthcare Ministries Enables Believers to Meet Their Healthcare Costs Affordably, Biblically and Compassionately. It's Not Insurance but a Voluntary Cost-Sharing Ministry Based on the Biblical Sample of Christians Sharing Each Other's Needs and Members Are Defined under the Law for Not Having Health Christian Healthcare Ministries Might Be Your Health Cost Solution Call 800-791-6225 or Visit CH 20 Careful to Obey My Rules 26 to 27 Verse Every Child Needs These Gifts from Their Relationship. Integrity Teaching and Experience Post Publishers Waiting for a Change.

It's Just Straight Walking through Process Your Copy of the Data Available that's Moody many people are experiencing financial challenges such as credit card downsizing that in jobs, savings, more than half of all the courses are the result of financial pressures at home money counts biblical financial expert Howard shows that the Bible is a veritable managing your finances will discover the profound relationship, your money counts is available when you click the start button moneywise live the White House earlier today Pres. Ron presided over a couple of historic diplomatic agreements between Israel and to Gulf Arab nations. Landmark agreements will lies Israel's warming relations United Arab Emirates in Bahrain forecasters a hurricane so I could dump putting rains on a path from Mississippi to the Carolinas this week is after the storm makes landfall on the Gulf Coast National Weather Service is up to 8 inches could fall later this week across parts of Mississippi, Alabama, Georgia and the Carolinas after Sally comes ashore near the Mississippi Alabama state line, US industrial production slowed to a modest 410s% increase in August or below the strong rebounds in recent months socks publishing higher today. The Dow gained two points. The NASDAQ up 133 and the S&P 500 was up one this is SRN use like to know more about who we are what we do find it when you visit our website moneywise

Lots of great resources there that you can avail yourself yourselves. There is our bookstore ways to contact the certified kingdom advisor. In fact, speaking of that, Rob.

We had a caller just a few minutes ago who had to hang up and they wanted to know how to become a certified kingdom advisor. I think they call it was time could you will. Could you maybe review some of those point and I think Tom was looking for one. But I'll mention both if you want to become a certified kingdom advisor, there are significant experience requirements. 10 years of experience in or one of the what we call the big C designations you have to either be a CFP year CPA, CFA, one of those other's character requirements, pastor and client references a statement of faith. Code of ethics and a 50 hour University certificate course in a proctored exam learning all these biblical principles, so I would love to invite you to explore that it kingdom

Now if you're somebody who just wants to align your values with your professional financial advice, whether that's financial planning, investments, insurance, taxes, you name it.

You can search for a certified kingdom advisor in your city. This 1500 of them around the country and up into Canada. You just go to moneywise and click the button that says find a CK you can put in your ZIP Code you get a list in your area and I would interview at least three great information.

Thanks from Deerfield Beach, Florida hello and what your question today for Rob my call. Here is central is true actually and I appreciate so much the call yet with the care Zach RMD's for 2020 have been suspended.

The Iris now says that anyone who took an RMD from an IRA or 401(k). In 2020 can repay the withdrawn funds. Even if the withdrawal was in January. The repayment will be treated as a tax-free rollover but isn't subject to the one rollover every 12 months rule. But the bottom line is you're exactly right the care Zach does suspend that for this year only now. Starting with yes it is anybody you've been taking them for a while or not because of the coded situation. It was they were suspended for the year 2020. Sure I and her company changed the company account would switch to a different company came advisor at this point we don't have a financial advisor but no, it that we have to have a financial and time in order to keep our account with the company holding you may be an internal policy for them to have somebody on record with that account. But the bottom line is you have the complete discretion over how this money is managed whether or not use an advisor and you most certainly can handle any investment account yourself. If you choose to do that, you just may need to move it to another custodian. So what you would want to do and is perhaps look at transferring this IRA to another institution that better matches how you wanted handle moving forward. If there's an advisor with this particular company that you can develop a rapport with than you think is a good fit then that's fine but if not, I'd begin interviewing other advisors.

Perhaps there in the Deerfield Beach area that would be a good fit for you and once you select one you could just simply transfer that IRA from the current custodian to the custodian of this new investment professional who could then take over or you'd always have the opportunity to transfer to a custodian on what they call the retail side where you could actually manage it yourself if that was something you so choose. So I would definitely look into that and, as we mentioned to Tom just a moment ago, I encourage you to consider an investment professional who shares your values and can really give you biblical advice alongside the professional counsel that you need and you could find more than one right there in South Florida certified kingdom advisors when you go to our website moneywise just click find a CK and God bless you and thank you so much for calling. Let's say hi to Bonnie calling from Willamette Illinois and Bonnie your moneywise live. Yes, Mary share from AAA and Stevie now because she how I'm trying to help elderly, not quite sure what she Frankie can't find the information fell. My question I want to share one yeah well it can be difficult.

I think the first thing Bonnie is just to make sure she does in fact need to take this over because here's the thing. Now we don't know what she signed, but if she hasn't signed anything. The good news is, no one has to inherit an unwanted timeshare, you know, if the timeshare is the right to use type. The errors would direct the executor to inform the resort owner that the, the owner of the timeshare has passed away and they would provide the steps to take back the timeshare now in your case it sounds like the resort is already aware of the owners passing if it has a real estate deed or there's a specific bequest and the owners will then your mother would file a written disclaimer of interest with the probate court handling the estate. The resort can't force your mother to take over the timeshare, but again you have to understand exactly what she's already agreed to and you wouldn't want to sign anything you probably want to have an estate attorney look into this for you and help you navigate this but I would you prefer it unless you want said that she just not even accept it, but in the in the event she's already taken it over legally then you know there are ways to get out of it.

But you're right, it's not easy. There are some companies out there there's not any that I have vetted enough to be able to recommend to you but what I will say is, there are some user groups out there.

For instance, tug to the timeshare users group. It's TEG in the number would be a great way to explore other people who would be willing to buy it, you could approach the company see if they be willing to take it back. You can also put it in a local newspaper in that area and try to sell it that way, but the timeshare users group would be a great next step for you, but I would also engage the estate attorney who handled the probate on this particular person's estate to see if in fact your mom does have legal right to this, and is required to take it over, but Rob unless your mom is really excited about taking possession of this the best option.

Probably to try. Do not take possession definitely do all the paperwork you Bonnie. I hope that helps you and I hope you can help them further with this.

Thank you very much great question today and if you're pondering whether to get into it timeshare yourself for the first time under that link speak to a few people get more than call us on a regular basis asking how to get out from under your listening to moneywise live, your host is less times more. Many people adopt an attitude toward marriage and finances that it will all work out somehow. But sadly, it often doesn't financial woes can devastate a marriage but there is a better way. God's way, money, and marriage counseling by Howard date will help you discover God's approach to growing your finances strengthening your relationship with your mate and cultivating godly joy, money, and marriage counseling is moneywise hi, I'm here to help you understand how to share your faith every opportunity to the eyes of a layman, all of us have it. We don't want to be with their views are different, their attitude is negative there critical of you and of the smartest person in the room is your source of love them and leave them to Jesus.

Well, actually it's not that hard. When you make sport out of everyone has a soft spot in a holster. I hope you find ignore the running start asking questions and showing interest and you will be amazed how fast you start understating the herd that's making them hurt. It's actually fun when they base you even more.

Just laugh yourself until God needs some extra help give it to you. God will reward you in your base for him. When you finally turn that person. Your friend, you know what a miracle looks like there is nothing more exciting than knowing God is using you to move people closer to join is not cantata and not long ago my husband took fresh-baked cookies to people up and down our street. It's his way of quote hurrying God's promise was talk about it where it says looking forward to a new heaven and a new righteousness and help early on that promise of an eternal home of righteousness by showcasing righteousness to others. Looks like God's way live in.

Show people what righteousness is like the way for our Savior. Others might live in Christ friend.

How about with a plate of cookies and a hurry on God's promises Johnny Erickson time listening. Many people adopt an attitude toward marriage and finances that it will all work out somehow.

But sadly, it often doesn't financial woes can devastate a marriage but there is a better way. God's way, money, and marriage counseling by Howard date will help you discover God's approach to growing your finances strengthening your relationship with your mate and cultivating godly joy, money, and marriage God's way is moneywise 16 verse 12 and if you have not been faith in that which is another's you that which is your own. Let's go to our phone lines Lakeland Florida Josť.

We appreciate your patience, my friend, what your question, try to get more of cool will on on typing all reason being it.

I feel tired years, but I came across Netflix show and it it cannot highlighted.

You the prosperity gospel and that's why I left my church and it kind of tarnished and let bad impression on me on typing and I'm kinda borderline on print on the fence about giving up typing and I really want to get a solid been praying about it and I haven't got complete clarity on should I be typing it.

It's something that good and pleasing to God. Well, I appreciate so much as question and I think first of all with regard to the prosperity gospel. I would agree with you it is not biblical in the way most people talk about and explain the prosperity gospel. In fact we just did a program on this recently. I look for you to go to our website moneywise and just search for the prosperity gospel, and you can read nurse usually listen to the program that we did when we went into this in-depth and talked about how it's it's not in alignment with that with Scripture, but I think that's completely different from and separate from this idea that we should as God's people. Be generous. I remember the type preceded the law with Abraham and Melchizedek. We see clear example of giving to the Lord to remember it's all his cattle on a thousand hills. It's all the Lord. So one of the big ideas. As believers we need to recognize right out of the gate is that God owns it all and where the steward of the manager of God's resources and we see that God himself is incredibly generous. In fact, we are created in his image and were most like him. I believe when were giving because he's the ultimate giver.

He gave us his son paid the penalty for our sin, to reconcile us through his substitutionary death on the cross so that we can have a relationship and beast restored into a right standing with the father. So that's an Colorado bull act of generosity. So when we take the father's money to manage it.

We should be generous ourselves. Now what should that look like, how should we be generous. What we see clearly we should live with contentment. We should live within God's provision and we should not consume all that we have member proverb says there's precious oil in the house of the five wise, the foolish man swallows it up and I think as we join God in giving that then calibrates our hearts to his heart. So how should we get well. We see plenty of examples of that we see the principle of the time clearly in the Old Testament referenced in the New Testament by Jesus himself, where we give 1/10, which is what the word means to the storehouse so I would say we start our giving with the local church that was clearly God's plan a and we see that kind of giving of funding the work of the church in the early church in acts. I think very plainly so we give, not because were checking the box, not because were old under the law of Moses not because were being legalistic, but because we get out of an expression of obedience and an act of worship and we give as God has prospered us and we start with the local church, but then that's a beginning point not at any point, the author, Randy Alcorn says our ties should be the training wheels of giving because then we start to give sacrificially beyond that in my experience as we experience the joy of giving you going to naturally want to reorder your finances so you can do even more now. You need to be giving to a Bible believing church were God has planted you. That's teaching the scriptures of course and and so we give you to the Lord, but we give the tide as the way to fund the church now there's some people civil were not under the law anymore. Why are we still tithing and clearly I think we should see in in the New Testament were Jesus in a sense up the standards that were to give proportionately were to give sacrificially and systematically so I think for each of us. Josť we need to come before the Lord and say Lord, what would you have me to do and establish an amount that we want to give but I would say that amount should be increasing over time as we grow in our maturity and walk with the Lord. But I throat a lot at you there and I'm not. I'm not trying to tell you exactly what to do because I think at the end of the day needs to be a conviction on your part. But what I would absolutely say is that as we look at the Council Scripture we should be generous, we should be systematic and that we should give proportionate to how God has blessed us and I think the starting point for all of us should be our local church, but you give me your thoughts what you think right here and I already redirected in public. I will without stepping back like I said, but that that that that we had humbled you not appreciate that.

Hope it has not. Did you hope it is humbled you, but I hope it's help you appreciate God's heart in this area like to do. Josť understand the one I want to send you a copy of the Howard Dean's book your money counts were he really unpacks God's heart in these principles related to his money and how we should manage, including the area of giving and hopefully that'll be a blessing to you as well. Since then the line will get your information. We appreciate your company. God bless Josť thank you very much. And remember, we don't give to get we give because we already got we got God's mercy and God's grace and it's our way of saying thank you to him.

Again, thank you for your call today. Miami, Florida hello Mark, we have a little bit of time let's and let's dig into this okay. Thank you for all basically on living in a two-bedroom apartment 1350 and now how like all shout and run out the liquid. How should I get on track and how higher getting a bigger place to rent out well. Congratulations on the growing family. But that's great God is blessing you that I think it's always going to come back to the plan right.

We've got a look at the spending plan. We got a look at your finances and say what is the right move for you so you don't put yourself in a position where you have unnecessary pressure on you for obligations and mortgages and and things that you actually can't afford. So yes, we want to make sure there's enough room for those sweet kids but we want to do it in a way that's wise. That doesn't create problems down the road and so here's here's a way we approach that number one you need a spending plan or a budget. If you don't have a budget.

I'd encourage you to download the moneywise app you just go to your app store. Whichever you use Google or Apple you can download the moneywise app absolutely free and begin to put in your budget because I want you to track everything your spending, what's coming in what's going out fixed expenses.

What I call discretionary expenses things you don't get a bill for even the nonrecurring expenses things a come around once 1/4. Once a year want you to get everything in there so you know where your money is going and then it's a matter of saying okay what can I afford well. As a rule of thumb, and that's all it is. I would encourage you not to allocate more than 25% of your take-home pay the mortgage payment that is principal, interest, taxes and insurance, 25% and so that's going to give you number this is okay I can afford this payment now you gotta put that in line with everything else, but if you keep it at 25%. If there's not anything else. This is really out of line. It should work, and then once you feel like you got a good handle on your budget. You know what the mortgage payment is then you know how much you could take on the next step is to make sure you save enough down payment. If you decide you're going to spend $200,000 for round numbers and love for you to have 20% down. That means you gotta save up $40,000 and that's a lot of money that's gonna take some time but that really should be your goal because that's can keep you out of private mortgage insurance, and it's gonna make sure you never get upside down where the house declines in value and you can't sell it because you don't have enough equity so if you save 20% and you you know you don't spend more than 25% of your take-home pay on the mortgage payment. I think that's your goal and hopefully all that really works in such a way that you say okay I'm ready. And then I'd find a realtor somebody who can help you look for the neighborhood that fits, how much you have to spend and then proceed from there. But it's all gotta start with that budget. Mark hope that helps.

You will glad you called today wish you the very best peer South Dakota Bruce a little bit of time left here let's jam it in okay will make it work tonight and what about converting a traditional IRA into a rock at 57 got a couple things I'm looking at here got my federal employment.

I have trip federal savings to traditional IRAs and so I know the paper doing that the conversion if you will, and I just wanted to know your thoughts on doing the cost-effectiveness on the minimize the tax consequences that 72 yeah well you know I think the key is the Roth really shines where you got a long period of time to take and let this money grow on a tax-free basis because report out tax free.

As you know, and so obviously you're in. I would guess a lower tax bracket right now than your peak earning years and so that works to your benefit, but I guess I'm really asking what are you gaining and is there enough benefit of going ahead and realizing all that tax right now or over a couple years you know obviously that would help you avoid the RMD moving forward but I just don't think there's enough benefit at 72 to pay all this tax. Now I probably just stick with what you have and use probably a qualified charitable distribution to get some of that money out in the form of giving and saving taxes.

That way, Bruce was going to have to let it lie right there because we are out of time, which is why you hear music coming up there in the background but we wish the very best. If that doesn't do it for you. Call back another time and will kick it around a bit more. Thank you very much and thank you for listening today.

Moneywise live as a partnership between radio and moneywise media part of that. My thanks to Amy and Clara and Jim for their technical assistance and expertise. Have a great night. Join us again tomorrow

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