A Discovery consultation is designed to help you make an informed decision and for us to determine what programs you qualify for. We will dive deeper to understand your goals and situation, review your professional credit report, and create your financial snapshot to review options. Get Started!
There is no cost.
We value your time. The free consultation lasts only 45-60 minutes
We provide face-to-face, video, and phone consultations to accommodate your scheduling needs.
No, initially we will review your credit report and then determine if there are additional documents required.
Your financial snapshot during discovery will help us determine program duration. We like to develop a base strategy and identify opportunities to accelerate so that you graduate faster.
Our Reset program fee is based on a percentage of what you owe and the number of accounts you have. Your total cost is approximately 50% of what you owe, which includes our fee and paying off your creditors. For our Rebuild and Refocus programs, it depends on what you need to be serviced. Contact us directly to receive our best quote.
Your credit scores may have already been negatively affected. The more balances you accumulate, the more your scores will drop as it reaches credit limits.
We can not advise you to not pay your credit cards. However, we recommend you prioritize capital towards essentials such as housing, food, and transportation costs. We will help determine options once we complete your budget.
Our financial & credit education programs provide a thorough understanding of the FICO scoring system and guide individuals to navigate in the evolving world of personal finances. After completion of our Reset program, your credit scores will typically elevate to the upper 600s. Add our timely rebuild guidance to it, and you will soar to a 700+ credit score in a few short months. Watch your grow!
Yes, we have Refocus resources that may be able to help you reach your goals faster.
At Roundleaf, we thrive in obliterating your financial stress by handling over your financial controls back to you. Our personal finance program strive to integrate the latest industry standards. We proactively work with you to reset your debt as quickly as possible and provide you the answers you’re seek. Shake our hands and enjoy a debt-free life!
Debt consolidation is the act of taking a new loan to pay off other loans, liabilities, and consumer debts, in effect bringing (or “consolidating”) all unsecured liabilities under one roof. The larger debt usually comes with better pay-off terms, including low interests, low monthly installments, and more. Reset your debt with our program.
A debt consolidation loan is a larger debt piece to pay off your other liabilities. This does not only make your payments more manageable, but also comes with better payoff terms.
FICO Score is the most commonly used metric to measure a borrower’s credit-worthiness to qualify for a debt consolidation loan. A score of 670 is generally considered to be good. Other loan qualification parameters are job history, income, education, and payment history.
The two most common debt consolidation approaches are 1) through a Debt Consolidation Loan, and 2) with a Balance Transfer Card. Both of these require authorities to make hard inquiries on your credit, which impacts your credit score in the short term. The considerable dip in monthly payments also hurt it. But this short-term damage to the credit score can be repaired by staying up-to-date on the payments of your new loan. In the long term, as long as you reduce your overall debt and remain current on repayment, your credit score will improve.
Doing debt consolidation on your own requires strict discipline, complex calculations, organization, and negotiation skills. Not only does it give you the mental satisfaction of clearing your debt, but it also gives you control over your expenses and removes third-party administrators (and their tall fees) from the equation. In the long run, saving you money. Learn about debt consolidation from our free Discovery Consultation. Let’s get started!
Debt consolidation is obtaining one loan to pay off many other creditors. However, Debt settlement is when the debtor and creditor agree on a reduced balance that will be regarded as payment in full.
Debt settlement is a practice that entails paying a lump sum amount (lower than your owed amount, by maturity) to resolve your debt. It typically involves a third-party mediator who negotiates on your behalf with the creditor. While this may sound lucrative, there are inherent risks attached, including penalties for late payments, impact on your credit score, debt relief scams, and more. Know the risks from Roundleaf’s expert consultants. Let’s get started!
Negotiating on payments with a credit card company may be the lowest point in your day, but it might save you a lot money in the end. Before picking up the phone, you must have a thorough understanding of your debt situation – not only from the credit cards but overall debt. The goal is to negotiate a settlement that is affordable for you as well as workable for your creditor. Learn More.
Settled accounts are potentially negative accounts because they were closed at a lesser amount than what was agreed in the original contract. A settled debt account can stay on your credit report for seven years from the date it was reported settled. Secure your long-term financial health with us.
Debt relief is typically any service or solution that gets you out of debt, like balance transfers, debt consolidation loans, debt management programs, and more. Even bankruptcy can be considered as a debt relief option because it helps get you out of debt. Debt Settlement is just one of the tools under Debt Relief – a subset, so to speak. With debt settlement, a reduced amount than what is actually owed is agreed upon in a negotiation to treat the debt as completely settled as long as the amount is paid in full.
A debt management plan (DMP) is an informal agreement. So it’s up to you if you want to add more loans to it. This is not uncommon as there are instances where people may miss creditors , or more money was borrowed after the DMP was created. While adding new loans, remember to re-adjust your monthly payments to include the newly added creditors.
Debt management affects your mortgage payments but in a positive way. Debt Management Plans (DMP) generally cover unsecured liabilities. As your payments for these credits are lowered under the DMP, you get freer to pay for your necessary expenses, like utilities, food, health, and mortgages. The DMP also asserts better control on uncalculated spending, as you know exactly how much to pay whom and on which date.
A DMP is not strictly a legally binding contract. Hence if you decide to stop using your current debt management provider’s services, there is no legal obligation to you. You can switch providers or do it yourself – as you wish. However, be fully aware of your debt situation before hand.
In contrast to debt settlement, debt management can actually improve your credit scores. Though applying a debt management plan doesn’t impact your credit score directly. Your debt payments are regularized through an organized channel. Overall, debts are significantly reduced over time and paid off substantially faster. Timely payments, changes in utilization rate, closed accounts, and smaller amounts owed – these factors can affect your credit score in both positive and negative ways.
Simply put, personal finance management is taking stock of your financial situation. You take into account factors like income, family security, lifestyle expenses, and savings to make the most of your assets. Going deeper, it involves professional-level strategies to optimize your income and cash flows, financial security and growth, and establish liquid savings. Want to do it on your own? Answer these questions first.
No one knows your financial situation better than you. A little knowledge about the nuances of personal finance goes a long way. A financially sound mind is better equipped to deal with day-to-day struggles, lead healthy lives, and prepare for a better future. It takes away your singular money-mindedness and opens you up to newer and more significant life experiences. Picking up personal finance skills early in life contributes to an independent mindset and hones decision-making capabilities too.
A proper tax-paying citizen holds an average of 15 different financial accounts, starting from banks, cards, digital wallets, debts, and many more. If not tracked, your monthly finances can spiral out of control and cost you dearly. The easiest way to track your monthly transactions would be from your bank’s online portal (or app). There are many third-party financial management applications available online too. You can drill down your monthly budget into an excel-sheet or use the oldest (and most accepted) method: pen and paper, to do the same.
Personal budget is the most essential tool in your financial planning arsenal. It provides a snapshot view of your financial situation and actionable strategies to overcome the hurdles. With it by your side, you can plan your spending while getting an exact estimate of your known and unknown expenses. You are better informed to choose the tools and instruments to make the most of your income and save for the future. Get more tips on personal budgeting from us.
The budget review is a reality testing exercise to analyze on-ground financial progress made due to the budget, in given intervals. Forbes mentions 90 days to be enough to adjust to a new budget. The first budget review should consequently happen then. Then determine if you need a weekly or monthly budget.
While both have their unique advantages, weekly budgets are simply more confluent to the times. It’s not monotonous. The close-range view makes it easy to track down expenses and manage them, making your budgets look truly actionable. More frequent adjustments allow for more accurate projections.
An investment mandate is an agreement with your investment manager that states the strategies and structure (how’s and why’s) of the investment explicitly designed for you. It may include benchmarks, investment ranges, and other related information. The mandate is different from the manager’s wholesale investment scheme, where the pooled fund schematics are showcased. Having a mandate gives you greater control and flexibility over your investment.
A financial advisor’s main job is to plan your finances and manage your investment assets. A wealth manager’s role is not much different. The only striking dissimilarity between the two is of their clientele. While an investment advisor can help anyone on selected domains, a wealth manager is an all-round expert in finances for high-net worth individuals. Find your kind of expert consultation.
Firstly, there is no one universal number to quantify the credibility of potential finance applicants. Different Credit Rating Agencies (CRA) evaluate credit risks through complex formulas involving multiple criteria varying from payment history, credit utilization, affordability, electoral roll registration, and many more. FICO designates 850 (100%) as the “perfect” score, and anything above 700 is considered “good.”
Payment history is the most weighted factor (35%) in determining your credit score. Even one late payment can hurt it badly. Other factors that affect it are credit utilization ratio (30%), the length of your credit history (15%), your current credit portfolio mix (10%), number of newly opened credit accounts (10%) and hard inquiries connected to them. Foreclosures, bankruptcy, repossession, charge-offs, and settled accounts can also negatively impact your credit score.
Contrary to popular belief, most credit reports do not contain the holder’s credit score. To check your credit score, refer to places like your credit cards, loans, and other debt instruments. Check their monthly/quarterly/yearly statements. Major credit rating agencies also allow you to purchase your credit score directly. Or there are plenty of online tools that can do it for a minimum fee or for free. Beware of scams.
The trick to building your credit reputation from scratch is to start small. Do not jump to buying a house or leasing a car with zero credit. You could become an authorized user of an existing credit account, like a family member’s credit card. Apply for a secured credit card, which has lesser scrutiny in terms of credit score. Build your credit score gradually by paying utility and cell phone bills from your account every month. Improve your credit score by enrolling in our Reset Your Debt program.
Your credit score is the culmination of all loans and credits that you borrow from others (lenders). This is not the case for overdrafts. Debit cards pull money from checking accounts. So even if you spend more than your account balance, you are not practically borrowing money from anyone. You may incur an overdraft fee, but it doesn’t impact your credit score in any way.
Different lenders use credit scores from various agencies to evaluate your credit-worthiness. There is no universal magic number that can take you across the threshold. A 660+ score on the FICO scale is generally considered good, but that is no guarantee of acceptance. The lenders try to judge you by your sense of responsibility and your capacity to pay the mortgage on time. A higher credit score can only indicate better pay-off terms for your mortgage, but it’s the lender who accepts/rejects your application.
Though many “credit repair” companies may claim so, but the truth is: there is no overnight solution to improving your credit score. Calculating credit scores is a complicated process, and even the fastest measures may take months to reflect. Start by checking your credit report for errors. The next step is to pay down your credit balances to lower your credit utilization ratio. Settle accounts that are in collections and make your delinquent accounts current. With these changes, you can see significant improvement in your credit score in 30-90 days. Learn More.
Secured Credit Cards are an excellent way to establish (or re-establish) your credit. They require lesser scrutiny due to the security deposit being paid upfront. If you can maintain the card with regular transactions and timely payments, it gets added to your credit report and effectively improves your credit score. As long as you maintain credit balances below the security threshold, chances for the account to be sent for collection are also less.
You can order your free government-recognized credit report from annualcreditreport.com, by calling 1-877-322-8228, or by mailing the completed Annual Credit Report Request Form to Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. All you need to provide is your Name, Current Address (Previous Address if you have moved in the last two years), Social Security Number, and Date of Birth. While the credit score is a one-shot view of your credit-worthiness, it is advisable to cross-check the reasons behind it from your credit report from time to time.
A typical lender looks primarily for two things when you ask for money: 1) your capacity to pay back, and 2) how responsible you are to pay it. When you ask for credit from an institution, it is not you but your credit report that presents your case. They look at your capital, income, and assets that you would use for payments. , They may also look at any type of assets that you can use for collateral and your credit history displays your commitment to payment, and then compare your claim from your loan application to cross-check its feasibility.
The foundation for a good credit history lies with showing responsible behavior when it comes to finances. Good financial habits like borrowing only what you can afford, keeping your credits well within the specified limits, making on-time payments can go a long way. Do not exploit your credit capacity by opening multiple accounts right at the beginning. Paying your balance in full is another way to impress your creditors. Be loyal to your accounts, and let them grow old. This showcases consistency and adds to your credit reputation.
The United States currently holds 12 privately owned and recognized Credit Rating Agencies. Out of that, Fitch Ratings is one of the oldest, and Dun & Bradstreet’s ratings are one of the most reliable. There are also non-profit government credit scoring authorities who provide credit scoring locally. And there is also the International Non-profit Credit Rating Agency (INCRA). Know more about our credit education programs.