At Go Long, we have plenty of clients going through major life transitions. In many cases, unwelcome surprises come up—particularly on the financial front.
I’ve had clients struggle with re-financing the family home post-divorce due to who’s name was on the mortgage. Clients who were stay-at-home parents and didn’t have income to claim as their own so they were left without a longstanding credit history post-divorce.
These situations can come at you suddenly whether it is a death in the family, medical debt, etc. So understanding what you can do to improve your situation is crucial.
That’s why I asked Purse Strings, friends of Go Long, to recommend someone who could talk about these issues. Let’s bring in Sanja Noble, Founder of Silver Crown Credit Repair, to get to the bottom of this so you can be educated about how you can protect yourself in addition to helping reposition yourself financially.
NOTE: This episode does not constitute a fiduciary relationship of any kind. The topics covered are purely for informational purposes. Please engage with a properly certified professional.
About Sanja
Sanja E. Noble, CEO of Silver Crown Credit Repair, isn’t your typical financial advisor. Her journey began with a personal challenge – overcoming her own credit struggles. This experience ignited a passion to help others achieve financial freedom, leading her to build a thriving business grounded in education and empowerment.
With over 30 years of experience in the financial industry, Sanja’s firm, Silver Crown LLC, goes beyond just credit repair. They are financial literacy architects, guiding clients towards a brighter future. Their mission is two-fold: to rebuild credit scores and, more importantly, to equip clients with the knowledge and tools to manage their finances effectively.
Major Topics Covered
Credit scores are crucial for financial wellness. Understanding credit components is essential for improvement.
Life events can significantly impact your credit. Establishing credit relationships is important post-divorce. Budgeting is vital during financial transitions. Credit unions may offer better support than big banks.
Payment history and utilization are key score factors. Inquiries can negatively affect your credit score. Credit reports should be regularly checked for accuracy.
Communication with creditors can lead to better terms.
Freezing credit can protect against fraud.
Debt forgiveness may have tax implications.
You can challenge inaccuracies on your credit report. Consumers have rights under the Fair Debt Collection Act. Document everything when facing discrimination in credit.
Evaluate your income and expenses before retirement.
Consider consolidation to lower interest rates.
Trying to force changes and not getting the results you expect? You’re not alone. Be the change you want to see by trying something different.
Quick Takeaways
Sanja: Creditors often want to work with you during tough times. These companies do not want to repossess your car or other assets. If you’re in a bind and can’t make a payment, contact the creditor and ask for some temporary relief.
Jill: Loved the tip that you can ask the creditor which credit agency are you pulling my credit report from so you don’t have to unfreeze each credit report from each of the three major agencies (this is for non-mortgages). Plus you can specify how long you want your credit unfrozen.
Trying to force changes and not getting the results you expect? You’re not alone. Be the change you want to see by trying something different.
Ways to Connect with Sanja
Follow on LinkedIn (personal), LinkedIn (Silver Crown) Facebook, and Instagram
Website: https://www.silvercrown750.com/
Ways to Connect with Go Long
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Schedule a complimentary consultation
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Go Long recommends listening to the entire podcast for context, but knows you are all busy people so below you will see timestamps. This episode is also available on YouTube.
Looking for an accountability partner who isn’t going to judge whatever the habit is that you are trying to change?
Timestamps
00:00 - Introduction to Credit and Financial Wellness
02:57 - Sanja's Journey into Credit Education
05:59 - Understanding Credit Scores and Their Components
12:04 - The Impact of Credit Inquiries and Management Strategies
17:54 - Navigating Life Transitions and Credit Challenges
24:11 - Rebuilding Credit After Major Life Changes
24:40 - Navigating Financial Challenges During Divorce
33:21 - Preparing for Retirement: Credit Considerations
45:28 - Addressing Discrimination in Credit
48:05 - Conclusion and Resources
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