B.E.S.D CONSULTING

Improve Your Credit

Ignoring credit utilization and mismanaging debt keeps you trapped in high rates and missed opportunities. At BESD, we guide you to take control, make smarter financial choices, and unlock a future of lower rates, more opportunities, and lasting success

Good vs. Bad Credit

Learn how to manage your credit effectively, avoid common pitfalls, and discover how our expert services can help you achieve financial stability.
Impact of Incorrect Information on Your Credit Report Accuracy on your credit report is essential for lenders to perceive stability and trustworthiness in your financial profile. Incorrect information, such as multiple or misspelled names, various addresses, frequent job changes, unknown phone numbers, or incorrect dates of birth, can reflect instability, potential fraud, or even identity theft. Additionally, inconsistencies in your personal information can lead to adverse consequences, such as higher costs and penalties, excessive documentation requirements to verify your identity, and automatic denials in online applications. Lenders may also see you as a risk, resulting in higher interest rates or less favorable credit terms. To avoid these issues, the best practice is to ensure you have a single, correctly spelled name, a stable address, registered employment, the correct date of birth, and no additional phone numbers on your report. By maintaining consistency in these areas, you’ll save money, gain access to new financing options, and secure better credit terms, helping you project a solid and reliable image to lenders.

Personal Information

  • In this way, Shows Instability, Potential Fraud, or Identity Theft. Increases Robocalls
  • Multiple Names, Misspelled Name
  • Too Many Addresses
  • Frequent Job Changes
  • Phone Number 
  • Wrong Date of Birth
  • High Costs and Consequences
  • Excessive documentation requirements to verify your identity
  • Instant Rejection in Applications
  • Higher Rates, Stricter Terms
  • The Best Practice
  • 1 Correct Name
  • 1 Correct  Addresses
  • 1 Correct  Job
  • Correct Date of Birth
  • No Phone Number
  • No Ocupation
  • In this way, you will Save Money, Get More Options, and Secure Better Terms. 
Consequences of Having Too Many Credit Inquiries Having too many credit inquiries on your report can signal urgency to lenders, reflecting potential financial instability. This directly impacts how banks and credit institutions view your profile. If you have more than one inquiry per account opened in the last two years, or over four inquiries within six months, it could lead to adverse consequences. These include excessive documentation requirements to verify your debt-to-income ratio, automatic denials in online applications, and the risk of higher interest rates or less favorable credit terms. To avoid these issues, the best practice is to limit yourself to one inquiry per account, no more than four inquiries within six months, and a maximum of four inquiries per bureau. This will help maintain a stable credit score, allowing you to save money, access more financing options, and secure better terms. Keeping your credit inquiries in check is key to optimal financial health and access to better credit opportunities.

Inquiries 10% Credit Score

  • Reflects urgency for money; heavy impact on your credit report.
  • Over One Inquiry per Account in the last Two Years
  • More than 4 Inquiries in the last 6 Months
  • More than 4 Inquiries per Bureau
  • Penalties and Added Expenses
  • Excessive documentation for DTI verification
  • Instant Rejection in online applications
  • Lenders usually respond that you have Too Many Accounts Opened in a short periods
  • Higher rates, strict terms
  • Drop in your credit score
  • Lender distrust
  • The Best Practice 
  • 1 Inquiry for each account you opened in the last two years
  • No more than 4 in the last 6 months
  • No more than 4 per Bureau
  • In this way, you will Save Money, gain Access to New Financing, and Secure Better Terms
Understanding the Importance of Payment History in Building Strong Credit Your payment history is a key factor in your credit score, reflecting how reliably you manage debt. Missed payments can have severe consequences, with escalating late payment statuses such as 30, 60, 90, and 120 days past due, eventually leading to a charge-off at 150-180 days. Each late payment can result in costly penalties, including late fees, higher interest rates, a reduced credit score, lower credit limits, and difficulties in qualifying for new credit. To protect your financial health, it’s essential to adopt proactive strategies like setting up autopay, paying the full balance before the credit cycle ends, maintaining a debt list, and confirming accurate reporting by creditors. Following these best practices can help you avoid financial setbacks, strengthen your credit profile, and gain access to better financing options and favorable terms. Prioritize a strong payment history to support your long-term financial goals.

Payment History 35% Credit Score

  • Reflects how responsible you are with your debts and how you manage them
  • Past Due 30 Days 
  • Past Due 60 Days 
  • Past Due 90 Days 
  • Past Due 120 Days 
  • Past Due 150 to 180 Days-Charge Off 
  • Penalties and Added Expenses 
  • Late Payment Fees
  • Higher Interest Rates
  • Lower Credit Score
  • Difficulty Qualifying for New Credit
  • The Best Practice
  • Set up Autopayment 
  • Pay Full Balance before cliclo of credit close 
  • Make a list of Debt 
  • Make sure the creditor reported the late payment correctly
  • By following these Best Practices, you’ll build a strong Credit Profile, avoid Unnecessary Fees, and increase your access to Better Financing Options
Understanding the Impact of Public Records on Your Credit Report Public records in your credit report can have a significant impact on your creditworthiness. Items such as judgments, liens, bankruptcies, collections, and unpaid government debts are often reported in the public records section. These negative entries can lower your credit score, increase the cost of borrowing, and make it harder to qualify for loans. By staying proactive in resolving public record issues—such as paying off debts, settling liens, and monitoring your credit regularly—you can protect your financial reputation and improve your chances of securing favorable credit terms, lower interest rates, and better financing options. Maintaining a clean public records section is essential for financial health and future success.

Public Record

  • Reflect significant Financial or Legal Issues that Impact your Creditworthiness and indicate how you’ve Managed Serious Financial Obligations
  • Bankruptcies 
  • Liens
  • Foreclosure 
  • Evictions 
  • Child Support  
  • Penalties and Added Expenses
  • Late Payment Fees
  • Higher Interest Rates
  • Increased Debt Collection
  • Costs Legal Fees Impact on Creditworthiness
  • The Best Pratice  
  • Avoid Bankruptcy if Possible
  • Resolve Disputes Quickly
  • Pay Debts Promptly
  • Settle Liens and Judgments
  • Monitor Your Public Records Regularly
  • In this way, you will Improve your Credit Score, access Better Loan Terms, secure Lower Interest Rates, and Increase Financing Options.
Best Practices for Managing Collections: Pay Debts Promptly to avoid further damage. Negotiate Settlements with collection agencies to clear outstanding debts. Avoid New Collections by staying on top of all financial obligations. Monitor Your Credit Regularly to track and resolve any collection-related issues early. By following these best practices, you’ll improve your credit score, gain access to better loan terms, secure lower interest rates, and increase your financing options. To effectively manage collections and minimize their impact on your credit, it's essential to follow these best practices. Pay your debts promptly to avoid further damage to your credit score. If you have outstanding debts, consider negotiating settlements with collection agencies to clear them as quickly as possible. Staying on top of your financial obligations will help you avoid new collections and prevent further damage to your credit report. It's also crucial to monitor your credit regularly, which will allow you to track and resolve any collection-related issues early, preventing them from escalating. By adopting these strategies, you’ll improve your credit score, gain access to better loan terms, secure lower interest rates, and increase your financing options, setting you up for long-term financial success.

Colections

  • Reflect serious financial challenges and can severely impact your creditworthiness
  • Unpaid Credit Card Accounts
  • Unpaid Medical Bills
  • Unpaid Auto Loan
  • Unpaid Personal Loans
  • Unpaid Utility Bills
  • Unpaid Student Loan Defaults
  • Unpaid Rent or Lease Payments
  • Penalties and Added Expenses
  • Debt Collection Fees
  • Higher Interest Rates
  • Impact on Credit Score
  • Difficulty Qualifying for New Credit
  • Legal Fees and Court Costs
  • The Best Practices
  • Validate Colections 
  • Negociate Colections with a Pay for Delete 
  • Avoid New Collections
  • Monitor Your Credit Regularly
  • Work with Creditors Directly
  • In this way, you will Improve your Credit Score, Gain Access to Better Loan Terms, Secure Lower Interest Rates, and Increase your Financing Options.
Understanding Credit Utilization and Its Impact on Your Credit Score Your credit utilization ratio plays a crucial role in determining your credit score. It represents the amount of credit you’re using compared to your total available credit. Maintaining a low utilization rate, ideally below 30%, is one of the most effective ways to boost your credit score. High credit utilization, on the other hand, can signal financial strain and negatively impact your creditworthiness. By managing your credit balances wisely and paying off your debt regularly, you can keep your credit utilization ratio low, ultimately improving your credit score and your ability to access favorable financial products.

Credit Utilization 30% Credit Score

  • Reflects how Wisely you use your Available Credit and Manage your Spending
  • High Credit Card Balances
  • Low Total Credit Limit
  • Low Available Credit
  • High Debt 
  • Penalties and Added Expenses
  • Negative Impact on Credit Score
  • Higher Interest Rates
  • Limited Access to New Credit
  • Difficulty Securing Favorable Loan Terms
  • Risk of Increased Debt
  • The Best Practices 
  • Keep Credit Utilization Below 30%
  • Pay Balances Early
  • Increase Your Credit Limits
  • Keep Unused Accounts Open
  • Monitor Your Credit Regularly
  • In this way, you will Improve your Credit Score, Gain Access to Better Loan Terms, Secure Lower Interest Rates, and Increase your Financing Options.

Service Solutions

Personal Information

Construction & Structuring of Commercial Credit

We assist businesses in building and optimizing their commercial credit profile to unlock opportunities for growth. From securing favorable credit terms to enhancing financial credibility, we provide tailored strategies to strengthen your business's financial standing.

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Construction & Restoration of Personal Credit

Take control of your financial future. We specialize in building robust personal credit profiles or restoring damaged ones. Our solutions are designed to improve your creditworthiness, enabling better access to loans, mortgages, and other financial benefits.

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Accounting Services (Tax & Estate Planning)

Achieve financial clarity and long-term security. Our accounting services include meticulous tax planning to minimize liabilities and estate planning to preserve and transfer wealth effectively. Let us simplify the complexities of your finances.

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