Pennsylvania Here We Come!

Parachute Credit Counseling is proud to announce we’ve expanded our service area to include Pennsylvania!

As a non-profit credit counseling agency operating for 60 years, we are very excited to be able to bring our valuable Debt Management Plan and Financial Counseling Services to the state of Pennsylvania!

Pennsylvania is now added to the growing list of states we can serve:

Alaska

Arkansas

Florida

Georgia

Hawaii

Illinois

Louisiana

Massachusetts

New Mexico

New York

North Carolina

Ohio

Oklahoma

Pennsylvania

South Dakota

Tennessee

Texas

Washington

Washington DC

West Virginia

Wyoming

In addition to debt management, Parachute offers a comprehensive range of financial counseling services. Our services include budgeting assistance, credit building strategies, and guidance on homeownership. Nationally certified counselors provide expert support, working closely with clients to achieve financial stability. Whether individuals are struggling with debt, seeking to improve their credit score, or planning for a major purchase, Parachute can help. We encourage everyone to take proactive steps towards financial well-being. For individuals looking for more information or to schedule a consultation, call 716-712-2060 or visit https://parachutecreditcounseling.org/

Your Credit Score: The Key to a Brighter Financial Future

Your credit score is an important three-digit number that represents your creditworthiness (i.e., measure of how likely it is that you will repay your debts). It’s a critical factor in various aspects of your financial life, influencing your ability to:

  • Secure loans: Lower interest rates on mortgages, auto loans, and personal loans.
  • Rent an apartment: Landlords often check credit scores.
  • Get approved for credit cards: Higher credit limits and better rewards.
  • Obtain insurance: Potentially lower premiums.

How is Your Credit Score Calculated?

In general, several factors contribute to your credit score, with different degrees of importance:

  • Payment History (35%): On-time payments on credit cards, loans, and other bills are paramount. Late payments can significantly damage your score.
  • Credit Utilization (30%): This refers to the amount of credit you’re using compared to your available credit. Keeping your credit utilization low (ideally below 30%) is crucial.
  • Length of Credit History (15%): A longer credit history generally indicates a more stable financial track record.
  • Credit Mix (10%): Having a diverse mix of credit accounts (e.g., credit cards, loans) can slightly improve your score.
  • New Credit (10%): Frequent applications for new credit can negatively impact your score for up to two years.

Checking Your Credit Score:

You can obtain your credit report for free from the three major credit bureaus: Equifax, Experian, and TransUnion. You can also use credit monitoring services or bank websites to access your score.

You can go to https://annualcreditreport.com WEEKLY to review your report for free.  

Improving Your Credit Score:

  • Make on-time payments: This is the single most important step.
  • Lower credit utilization: Pay down existing debt and avoid maxing out your credit cards for rewards or points even if you pay it off fully each month.
  • Dispute errors: Review your credit report for any inaccuracies and dispute them with the credit bureaus.
  • Consider a secured credit card: This can help build credit history if you have limited or poor credit.

Important Considerations:

  • Different credit scoring models exist: FICO and VantageScore are two common models, and they may produce slightly different scores.
  • Credit scores can fluctuate: Your score is not static and can change based on your financial behavior. It can take time to improve a credit score sometimes 6, 9 or 12 months or more dependent on your unique situation.

By following this guidance, you can help to increase your score and secure loans and credit at more favorable terms to help enhance ability to pay down debt and improve your overall financial wellness. 

If you’re dealing with high interest debt payments as well, see what you can save with Parachute’s Debt Management Plan https://parachutecreditcounseling.org/dmp-calculator/

Would you like to meet one-on-one with one of our Financial Counselors to talk specifically about your credit? Check out our Credit Report Review session https://parachutecreditcounseling.org/services/credit-budget-counseling/#credit-report-review or call 716-712-2060.

Married with Student Loans? Choosing the Right Tax Filing Status is Critical

Navigating student loans is tough, especially when you’re married! One critical decision impacting your finances is your tax-filing status. Are you filing jointly or separately? Choosing incorrectly could mean missing out on valuable deductions like the student loan interest deduction or you could impact your eligibility for income-driven repayment plans, potentially costing you hundreds or even thousands of dollars.

EDCAP (Educational Debt Consumer Assistance Program), a program of the Community Service Society of New York, is hosting a FREE webinar to help you understand this crucial decision: Married and Managing Student Loans? Learn How to Optimize Your Tax Filing Status.

Join them February 18 at 6:00 PM EST as they explain the financial and tax implications of filing jointly vs. separately for married couples with student loans.

Register Now

Learn more about EDCAP:

EDCAP is a program of the Community Service Society of New York, dedicated to providing free, unbiased counseling and resources to student loan borrowers.

Visit edcapny.org to learn more.

Please share with those who might benefit! We look forward to seeing you there!

Join us for a FREE Parachute virtual Zoom workshop:  Two Hearts, One Wallet: Mastering Money as a Couple

Two Hearts, One Wallet: Mastering Money as a Couple

Handling finances as a couple can be tricky!  This FREE 30 minute workshop discusses how to approach money goals, values, and challenges. Learn practical strategies for creating a shared budget, managing debt, saving for the future, and communicating effectively about financial decisions. Gain ideas as to how to build a strong financial foundation together.

Register now! Spots are limited!

Register at: https://bit.ly/parachutehearts

Spread the word! Share with your employees, friends, family, clients – anyone who could benefit from these valuable tips.

See you there!

P.S. Don’t miss out on this FREE opportunity to take charge of your finances!

If you’re dealing with high interest debt payments as well, see what you can save with Parachute’s Debt Management Plan https://parachutecreditcounseling.org/dmp-calculator/

BACK BY POPULAR DEMAND: Deck the Halls on a Dime: Holiday Budget Hacks

Join us for a FREE Parachute virtual Zoom workshop: BACK BY POPULAR DEMAND: Deck the Halls on a Dime: Holiday Budget Hacks

Wednesday, December 4, 2024 from 12:00 p.m. to 12:30 p.m.

Join us for our Holiday Budget Hacks Workshop and discover how to enjoy the holidays without breaking the bank! You’ll learn how to avoid common holiday spending pitfalls. Whether you’re a seasoned shopper or just starting out, this workshop will equip you with the tools and knowledge to have a stress-free and financially sound holiday season.

Register now! Spots are limited!

Register at: https://bit.ly/parachute-holidays

Spread the word! Share the attached flyer with your employees, friends, family, clients – anyone who could benefit from these valuable tips.

See you there!

P.S. Don’t miss out on this FREE opportunity to take charge of your finances!

Parachute Credit Counseling is Hiring!

Job Title: Reception Coordinator (Part-Time)

Summary:

As a Reception Coordinator, you’ll be the first point of contact for clients and all incoming calls, providing exceptional customer service with a positive and patient demeanor. Your responsibilities will include greeting clients, answering calls, scheduling appointments, and handling various administrative tasks.

Key Responsibilities:

  • Client Interactions:
    • Greet clients warmly and provide a welcoming atmosphere.
    • Answer incoming calls promptly and direct callers to the appropriate department.
    • Assess clients’ financial needs and schedule appropriate appointments.
    • Provide pre-appointment information and collect necessary paperwork.
    • Process client payments and paperwork.
  • Administrative Tasks:
    • Assist with data entering and processing.
    • Perform opening and closing procedures to ensure security.
    • Process incoming and outgoing mail.
    • Prepare and send mass communication letters.
    • Maintain a professional appearance of the reception area and counseling rooms.
    • Complete other assigned projects.

Qualifications:

  • Proficiency in Microsoft Word and Excel.
  • Excellent oral and written communication skills.
  • Skilled at prioritizing tasks.
  • High School Diploma or GED equivalent required.

About Parachute

Parachute is a non-profit, full-service credit counseling agency, providing confidential financial guidance, financial education, counseling, and credit repayment assistance to consumers since 1965. Parachute helps consumers trim expenses, develop a spending plan, and repay debts. Counseling is available at our Main Office in West Seneca, by telephone, and online.

Hourly rate range for this position is $17.00. Individual compensation is based on various factors unique to each candidate, including skill set, experience, qualifications, and other job-related reasons. We offer growth opportunities for professional development along with hourly pay increases. Other benefits include:

  • Paid Personal Time Off (PTO)
  • 401(k) Plan
  • Paid Holidays
  • Health Insurance

Please send resumes to robert.dunn@parachutecredit.org