Todd Pietzsch BECU 01-17-18

Wednesday, January 17th

Todd Pietzsch from BECU joins us live in studio. Caller Chris pays child support and has bad credit but wants to fix that. Caller Amber has a lot of credit card debt and wants to consolidate it all together. Caller Sean declared bankruptcy and later bought a house; wants to know how to improve his mortgage rate.  


Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

You resist the KI SW financial advisor appeared. I'm Todd. I invented numbers so I know how this just words speech. Do you. I'm Veronica de. Moorad it is all. It's always itself when in January when Todd comes in because well we know we we we we we have to take a look at what we did over Christmas and see how financially. Stable we were powers questions not a broke out early get on broke down. First question get a job. Dammit how are you hire and so you wanna talk to Todd from DC 206421. Rock you can also Texas 77999. And don't forget man BC was a great Craig credit union that you do not have to just be a Boeing employee anymore all you gotta do is live work or attend school here in Washington State and you can join BE CU. And it's not always says man the deal between the credit union bank is that Craig senior owned by you yet you only Vijay Colin god you did last year or the year before any. Looks like again this year and I knew who you want me to that's an aside I meant I. And of course so that means you now where you you really are taking the money that you make and investing it back into us the people that own it we're the owners so therefore where the ones benefiting from all the good stuff that happens to be ECB that drives all of our decisions yeah which is not a bad thing as regular banks dads that always the case. Joseph 642 on rock Texas it's 7799 medals go to Chris is homers Chris you rob with Todd from BE CU dot org go ahead. Hello my thought well hold on a second crystal mark Staten. There you go Chris now you're our go ahead you're on the rock. Are more than just markets are for us. So my situation that's been paying each outscored you sixteen years my daughter's almost twenty years so we're two years that's jobs where being being done. My credit reports are still reading your car management. And basically just depleting my credit score down so little 500 took a wreck and you can get a tireless shrub like. I I've called the disputed they say they have come to the tow sports obsessed jobs for a sister and their paperwork. And it's still still on the they're still destroying my credit I can't even get a control credit card your Bank of America or anything like that. To try to build my credit I had no idea what the duty inspired. Building it up and getting back on track. Now before we get there Chris I have a question Todd myself. It is so is it considered a garnish your wages when you are doing child supporters that did that a penalty thing because somebody may not been paying shouts as sounds like you're paying. Oh is that what happened and it's Smart lists. My order from our management but I don't understand why did you hear bits court ordered why is it showing up if you're paying as agreed. Brake why why wouldn't let Larry show up until that that's that's a minute and come issue for a loan right you have to pay that's as I can debt. But it's day if you were. It was. It was something that says basically they said they don't want to take any personal thing that term so it had to be considered punishment. Question the question here's the question is this Chris were trying to stick. Because look people get divorced some people have to do child support that shouldn't affect your credit unless I negatively. Unless you miss payments did you do anything they gave a negative ten I don't I I I ice creaky old old. What do what's going on is because it's the label that garnish it and then it's still on the credit she years later it's saying I'm not. Oh this I don't understand see this entire this why ask this is this what happens bunch I've never heard this before its email. I I didn't I don't know how much help you can be I might get the full story. He. And kind of loss for words as well I mean typically I mean this happens a lot right they eat pay child support any new hear stories of people. Who not paying it right for years. I'm may go to court. Gather there are gaining getting garnish Minty get. To force that payment if they can track you down Chris and eighty it it feels like you've got to get a lawyer because if what you're saying is true that you did nothing wrong. Somehow some way you've got screwed because the system doesn't work that way you're not supposed to have child support affect your credit if you've been paying on time and you've been a legitimate genome. Child support paying you know what. What's what's affecting the credit again and one thing and it's it's it's been. It doesn't get close so. There's but I'm saying I don't what we're saying we need credit dude what we're saying is we've never heard of child support. Ever affecting your credit that's what tyra in my right about that's not yet heard if you hated as agreed yeah if you've gone and if you haven't then eighth then you go to court. The court orders encouragement or something then it could sure you are you understanding what we're saying is that he should never like that to your credibility. So Julianne I'm OS so I'm HE whatever I don't know that it middle. It should never detected online and therefore don't Chris it should have never affected your credit if you didn't do anything wrong do you get what I'm saying it should narrow Denny's did you actually getting assays I think. Think what he's saying is that it ended two years ago so he stopped paying when she turned eighteen but she's now two years pass and he has campaigned that because they should have ended but it is still is marked as a garnish Smith on his credits that's why it's affecting his career. Rick is a utility building up and it out saying behind even though I'm not. Oh that's a league that's old thing you've got to get a lawyer and you have to go after the you have to go after their dad and David people because it seemed because there they are messed you up that's that's. I would raise top does that mean getting it sounds like it to me not knowing all the details right now knowing everything here bet it sounds like you. Here if you're not paying it right so there was a court order there was some things. There to trigger this too reporting to the credit bureau beyond my ass so I appreciate I'm called Chris and and and I would I would I would talk to a lawyer I really really would. How do we have them because it's like you said Todd they don't garnish your wages right at the bad today. Now without a court order is not something that something's gotta trigger that as you say they garnish his wages when he started paying child support in catch that yeah I I is that what I would do is I learned is that you need to pay child support if you want tires. That's very true red light so I can go to go to go to like I think Chris is in snohomish county snohomish county bar association good place to go talk to them and they can refer you to assume that I saw him. An attorney manually shouldn't cost anything for just initial consultation with you explain your situation. He doesn't think counting also have a money Barr says you know everybody in Italian got your bar association they'll get it though gave some free hell yeah Angelina and there and know they'll hook you up with somebody who's a specialty in that area. And then you can talk to them as Tommy situation and know kind of explaining and then if you go further than obvious he would pay from there I'd say it is frustrating if in fact he's done nothing wrong and because of the glitch in the system they're making his life mr. absolutely that's really frustrating that we can he can fix that. So just take a little bit of work stuff. 206421 rock Texas and 77999. If you have a question for Todd. Now it's time to call and Emery Kirkland you are on the rock with Todd from BEC dot org. I. Amber amber what she got for us. I'm I had a conscience so I have a lot of credit card debt and I have known to pick their unemployed for a couple of months ends. Sounds though behind that my credit's really bad and I wanted to let us. Debt consolidation but I can't find anyone to do it on my credits that. Okay. Well it's how much how much are we talking about amber how many how many cards how much debt. Probably leg. 151000 total counting like it's my character is great yeah I'd like 5000 dollars an hour that's sentiment. OK I'm so what I would like he did do is go to the National Foundation for Credit Counseling it's an FCC dot org. These are an nonprofit. An accredited counseling agencies that can work with you. On the they can put you I'm depending on your situation into it's called a debt management plan so they can work with the creditors. On two and now your creditors RD bad right. It sounds that OK so it's already bad so that's not gonna matter it's it's not gonna get worse. On me going into the plan that the work with the creditors come based upon your income to come up with a payment plan and then negotiate rates and so forth. So I ON FCC out of Oregon. On there's there's and then you can put in your zip code area and then their it'll bring up state. The agencies come in your area camera how old are you. And I can't really say assignment get tires thinking he can lose a guy who needs tires and a pretty hard as I got a passport my credit was good good yeah I'm I'm glad I did as well. Every you can bounce back from inside I've all of a lot more money than you have with my crazy radio career having live on credit cards in my credit limit like Promos below zero and now it's really good so. In time you can fix this all you have to do is just take steps the responsible direction you can make it better. Yeah I not to. Israeli territory now like Clinton have a job for a few months but finally getting back on my daddy's. Don't give up its not like BJ said this is not insurmountable amount of money so in the yeah in your lifetime this is a drop in the bucket just. Work and it work hard get dedicated in that. And you'll turn yourself around and and it and no time at all and and I I you know what any outside Todd a lot of people feel shame around money I mean you can hear and Amber's voice that she she didn't wanna tell you the figure because you just feel like oh my god at least I did I felt like what a loser I am. For being you know a five figures and dead in my life who can play you know a lot of people for whatever reason than that it's just happen it's it's it's it's which is why it's a great teacher here to help people start moving in the right direction yeah that's. I hope they don't 151000 is in the holes going skew the thing that's nothing. You know there's wealthy you know it's funny you say give you fifteen Dow well I'm here I'm sorry I got tired and tomorrow Izod 123 years of folks think about those twenty years old 151000 IA you're right it isn't if you can step back it really isn't a lot over the course of your life. But I can understand how somebody in her twenties can think that's a lot of dough. I agree yeah yeah but you're right if you step back and realize you GO the only F fifteen grand that's manageable you can get I was more than and made my first my first job I think had a hell you are but that's more than we make right now I think it's not another Steve and I still wearing the light never had to cut cut let's go to our Sean in lake Stevens Sean you're on the rock. Marchand welcome to the show you Robert Todd PH MP EC dot org go ahead. God I got enough. In may 2012 had filed bankruptcy. We Palestinian. Slasher thing and I'm. Political blunder and credit scores of accrued that is that there would be surgery I had on any air out and seven years after the bankruptcy. A banker or can they stay stick with you for ten. So it is not gonna go away. Next year I think so but you tell you what kind of report he had you see you purchased a house for years to ago. Yes that's pretty amazing that you could do you have with the bankruptcy. Yeah I think it's like Fido well some ordinary out. Yeah outside years ago and stuff and had a credit score below that dirt you know we sold out because it'll. And so we're able to pay off all her dad and got a credit score to about 718. I'm very good at getting all out here you know and over seven years magic number. Until I heard a record ten years great but it would that be. Right now how about a mortgage insurance go to a look at 10% down but does a lot of were ousted in crude you know who I knew I could but so were probably 20% over. A great value now so. I'm degree reside on the show more original charge was dropped off but I don't know how much the rate would accrue first you know wish away. I think it's something we definitely went a looking into. Cons if you want to email me go to BJ's page find my email I can get you hooked up with a mortgage mortgage advisor who can walk you through that. So locked drawer and and just compare apples apples here's where your here's where you could be. And if you can drop that team might have be really nice surprise opinion couple hundred bucks a month just right there. I don't happened somewhere you I would you tires you got a good thread and I'm gonna think that's good tires in the near future. Increase all right well I sure we get that didn't turn to talk. That's hardly do the right direction when it comes a tire shop that's our new level man if you can get tires life is not so bad that's when you can't get tires things are really really don't lose sadly though we joke but that's very true we tires man we tires to get to work. Now we do. As an MMS said Todd say if you go to KI SW dot com you can just scroll down do you see the banner with Todd smiley face click on that that's how you can email him. Plus it'll take you to a great page with a lot of free resource is a financially which is a nicer thing that the ECU offers the casually Iraq Oz I appreciate that. Todd time has flown by again my friend thanks BJ yeah I'm again DE CU dot or you live work or attend school in Washington State you can be part of that great Craig credit union and it's an awesome way to bank. The next morning it's. Yeah. I guess tell you.