Financial freedom is a common aspiration, but it comes with significant responsibilities, and the other crucial part is education. As times change, many are venturing into the credit repair industry. Some are genuine, while others are simply after a quick profit. How can one discern the difference, especially in moments of desperation? Financial guru and credit repair expert Precious Jordan recently sat down with FEMI Magazine to discuss the importance of credit repair and strategies for maintaining good credit.
FEMI Magazine (Mo Clark): What made you decide to venture into the credit repair industry?
Precious Jordan: My decision to venture Into the credit repair Industry came from my drive to repair my own credit. It was something my peers encouraged me to do. Upon repairing my own credit I basically documented my progress online via Facebook & gained a huge following on the social media platform.
FEMI: When you specifically speak to growing up and becoming an entrepreneur, do you feel that was your plan all along or was there another career you wanted to partake in?
Precious: To be honest I never wanted to become an entrepreneur, it just sort of happened. Once I adapted to the aspect & entertained the idea of assisting others I felt I was good at it. I felt as if I was now doing what I was supposed to be doing. I love children and after graduating high school in 2007 I wanted to become a child psychologist. I guess GOD had other plans for me as you can see.
FEMI: Repairing one’s credit is only the start of financial literacy. Once someone has put in the work they need to maintain it. What are some steps you feel are important to maintaining a good credit standing?
Precious: Maintaining good credit requires discipline. You are in control of your financial freedom. Yes, we all know things happen & your finances may change but the key to keeping yourself out of debt is to do what you can AFFORD to do. Upon opening any line of credit your main focus should always be “Am I ready for more bills?” “Do I have the discipline enough to keep up with the payments?” “How will opening up this line of credit benefit me in the long run?” These are key questions that should be answered before proceeding forward with anything pertaining to your credit.
FEMI: I’ve heard the phrase “credit is key”. Do you feel like this rings true? Why or why not?
Precious: I feel this is true in certain situations and I say that because a credit report is like an adult report card. It shows how responsible you are for making financial decisions. Depending on certain goals you have in life or want to do your fingers may be limited so why not safely borrow the money with a promise to pay it back over time? Having good credit puts you in a comfortable space to do what you want not what a lender feels you deserve based on your score.
FEMI: With more people offering credit repair, it can be cumbersome to discern which services are legit and which are not. In efforts to help those who are truly in need of assistance; can you share with our readers just how to go about selecting a proper credit repair servicer?
Precious: You’re absolutely correct about that. It’s many red flags to look for when investing in a trusting credit repair company. A consumer may look for signs such as making promises and guaranteeing things will fall off your report within a certain time frame. Another thing to consider is a company that can’t properly explain its process to you when you’re asking how are they repairing your credit. Also, a company charging monthly fees, even though I’m not against monthly fees, I don’t charge them, but some credit repair companies charge monthly fees to prolong the process. Companies offering to provide you with a CPN, or even companies that ask you to misrepresent information. Be sure to stay away from companies that offer you a new identity.
FEMI: You are a serial entrepreneur. Let’s talk about some of your other brands and how you keep balance.
Precious: I still work during the week. I’m currently employed by the United States Postal Service. I’ve been employed there since December 2012. It’s funny you asked that question because I do get that a lot and my answer is time management. I’m very good at managing my time for things that I want to thrive in. Having a job for me right now is temporary but it does help during times when my business may slow down.
FEMI: You have some upcoming events. Let’s dive into that a bit.
Precious: Alongside my credit repair company I host sip & shop day parties once a year which includes renting out a venue or facility of my choice, hiring celebrities to attend, and engaging with various entrepreneurs in my city. This annual event allows businesses to promote their brand and have a good time doing it. My next event is scheduled for July 14th, 2024 with Grammy nominated rap artist TRINA as my celebrity guest host. I also will be having R&B sensation Sammie doing a live stage performance. These events give me creative control to allow me to showcase my event planning skills in a different light. In my city the “Pop up shops” are all the same. Nobody is bringing any sort of excitement so that’s where my event comes in at it and gives people something to look forward to.
FEMI: What would you tell our youth as it pertains to obtaining credit and maintaining credit?
Precious: The number one thing I would tell our youth about credit is don’t put anything in your name for anyone. Wait until you are truly ready and financially responsible to pay bills. I don’t recommend children obtain any lines of credit during their college years. When you’re in college, your focus is a bit different. You are more stressed about finishing school and gaining your education. Paying a bill per month is the last thing on your mind. Keep your personal information safe, don’t carry around your Social Security card, and don’t give out your Social Security number. A credit card is not free money. Last but not least READ anything that requires your signature, and if it’s something that you don’t understand ask questions. If you’re confused, again ask questions. It’s recommended you ask an adult that you know and trust. If it’s something you don’t understand completely or you’re still confused about it after asking questions, don’t obtain it. You’re not ready for it.
FEMI: What advice would you give someone who wants to start a business?
Precious: If it’s not something you love doing then don’t do it. You have to put yourself in a customer’s shoes. There’s nothing worse than receiving services from someone who doesn’t enjoy doing what they’re doing. If you know you can’t give it your all, then don’t do it. Everything isn’t always about the money. Do what you love to do & not what you think you want to do. If you have to second-guess yourself more than likely, it’s not for you.
FEMI: What can we look forward to in the future from you and your brands?
Precious: Honestly, right now my future is unpredictable. What I will say is bigger events. Wonder Woman Credit Repair is here to stay. For my sip & shop day parties, I would like to travel to different states to put these events together. This is a dream of mine so with the right resources & connections I think I can make it happen. My credit repair business has already reached over 21 states within the United States servicing over 5,000 clients to date and I’m looking forward to servicing more in the near future.
Let this be your sign to not only get yourself educated about credit and credit repair but to reach out to the youth as well. In the era of social media and digital product production, our youth is more than equipped to make more responsible choices. It’s never too early to teach financial freedom and how to stay debt-free. Experts like Precious Jordan can be hard to come by, which is why we are beyond thrilled to have met and chatted with Precious Jordan. We hope you were beyond excited as well. Be sure to visit her website, here.
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