First Posted: Dec 08, 2020 08:17 PM EST
Entrepreneur and digital investor Mac Angelo is a master of adaptation and change. The owner and creator of LevelXstream, a company that helps ordinary people fix their credit scores and begin investing in the digital space, he’s got many years of experience under his belt and is excited to share his best insights. Coming to the United States from Cameroon, Africa, Mac was confronted with a great deal of change, not only in his daily life but in the overall culture.
“When I got to America, I spent my first six years in the US Army. This is where I pretty much destroyed my credit score because young guys in the military, we didn’t particularly care about our credit, as you can imagine. And here’s the thing: in Cameroon, we don’t borrow money. We just don’t. We’re shy about it, and we try to only buy things when we can afford them with our own savings,” he shares.
Mac quickly understood how to improve his situation. He had one-on-one mentorship and sought advice from leaders in the industry until he became one himself. Having gone through the credit journey personally, Mac and his expert team can now help many others in similar situations.
“When it comes to credit repair, we need a little time, something along the lines of 30 to 60 days. We begin by helping our people remove their negatives. This depends on how much is piled up, but if it’s a terrible account overall, deep in the negative, then we’ll try to dispute the whole account. So if we’re successful and the whole account gets removed, then we don’t have anything in the negative anymore, which is a great starting point. This is what we call a ‘credit sweep,'” explains Mac.
Once the credit sweep is done and a client’s account has turned into a clean slate, the client then obtains a clean credit card, and their score goes up to a healthy 750. Then, Mac focuses on finding funding for his clients. Mac has a fantastic idea of what underwriters look for with his years of experience, and he helps prepare his clients and set them up for success according to those parameters.
He has gone as far as inventing his own system called the “Application Sequence.” Mac helps his clients get approved for a minimum of $100,000 in a single day with this method. His work is truly transformative for hundreds of people, and he prides himself on that.
With clients who are applying for business loans, the amount they become eligible for gets even higher with Mac’s help. Mac explains that the pandemic has had a tremendous effect on business. “Because of COVID-19, the banks are more flexible with approving higher credit limits to help businesses. We have helped businesses scale their working capital over $10 million,” he shares. No matter how big the business grows, Mac Angelo is dedicated to knowing all of his clients and having a real idea of where they are at, which truly makes him unique.
For more news, updates, and tips from Mac Angelo, follow him on Instagram.
Lashonda Nesmith Jackson, Bryan Braddock to speak at hip hop rally Saturday | Local News
FLORENCE, S.C. — Two candidates running for Florence City Council will speak at an event scheduled for Saturday afternoon.
Lashonda Nesmith Jackson, one of five candidates running for the Democratic nomination in the District 1 special election, and Bryan Braddock, one of four Republicans running in the District 3 special election, will speak at the Stop the Violence Hip Hop Rally.
The rally is scheduled for 1 to 3 p.m. Saturday at Northwest Community Park, located at 801 Clement St in Florence. It will also feature music, a clinic on expungements and pardons, a credit repair service and free food.
California Announces Plans for Reviewing Consumer Complaints
California’s Consumer Financial Protection Law is in effect and the Department of Financial Protection and Innovation (DFPI) announced plans for reviewing consumer complaints in its monthly bulletin for January.
California Gov. Gavin Newsom approved the California Consumer Financial Protection Law (AB 1864), which creates a state consumer protection agency before the end of the state’s 2020 legislative session. The law also expands the state’s power to target unfair, deceptive and abusive acts and practices by financial service providers, ACA International previously reported.
Effective immediately, according to the DFPI bulletin, it will “review and investigate consumer complaints against previously unregulated financial products and services, including debt collectors, credit repair and consumer credit reporting agencies, debt relief companies, rent to own contractors, private school financing, and more.”
Under the consumer financial protection law, the DFPI will also:
- Significantly expand the state’s consumer protection capacity by adding dozens of investigators and attorneys to supervise financial institutions.
- Create a team to monitor markets to proactively identify emerging risks to consumers.
- Create a team dedicated to consumer education and outreach, listening and responding to consumers in specific communities, including veterans, immigrants and older Californians.
- Create a new Office of Financial Technology and Innovation, which will cultivate financial technology to serve consumers.
This spring, the DFPI will launch a statewide campaign to educate California consumers on how the department can support and protect consumers, according to its bulletin.
Licensing Requirements in the Works
Under a law passed last year, California is now one of 35 states to require a license for debt collection. Agencies have one year to apply.
The Debt Collection Licensing Act (SB 908), from California State Sen. Bob Wieckowski, D-Fremont, was signed into law by Newsom in September 2020.
It was welcome news for the accounts receivable management (ARM) industry and ACA that the governor approved both these measures, allowing for a separate licensing process outside of the DFPI.
With the governor’s signature on the licensing bill, the commissioner of the Department of Business oversight shall take all actions necessary to prepare to be able to fully enforce the licensing and regulatory provisions of this division, including, but not limited to, adoption of all necessary regulations by Jan. 1, 2022.
The California Association of Collectors (CAC) advocated to ensure workable options for consumers and the ARM industry in the licensing bill. And the Collectors Insurance Agency (CIA) licensing team had a seat at the table to negotiate the best licensing legislation possible for the ARM industry.
While a license will not be required until 2022, the state has indicated the application and its checklist should be submitted as soon as they are live in 2021. The law permits the state to use the electronic Nationwide Multistate Licensing System (NMLS) for the licensing process. There will also be a bonding requirement as part of the licensing process.
License applications will be due by Dec. 31, 2021, and the DFPI expects to begin the licensing process in late summer or fall next year. Debt collectors that apply for a license before the deadline next year would be allowed to operate pending the approval or denial of the application.
Under the law, the DFPI will also appoint a seven-member Debt Collection Advisory committee.
Even though the application is not available yet, ACA members and ARM industry professionals can contact the CIA licensing team to be added to the Licensing Service List. When the application and list of requirements is available, the team will provide more information on the service.
For more information on how the ACA licensing staff can assist with your licensing application completion needs in California as well as other states, please email email@example.com or call (952) 926-6547.
Industry Disruptor Curtis Ray Launches Retirement Planning and Saving Service, MPI™ UNLIMITED
GILBERT, Ariz., Jan. 14, 2021 /PRNewswire/ — Curtis Ray, retirement planning expert and creator of the patent-pending Maximum Premium Indexing (MPI™) Plan, announced today his newest company, MPI™ UNLIMITED. The company’s proprietary technology utilizes the security guarantee of permanent life insurance, the growth potential of the stock market and the power of compound interest to provide enhanced retirement income, tax-free.
“I am thrilled to announce the official launch of MPI™ UNLIMITED,” said Ray. “After years of research in the financial planning space, I realized that traditional strategies, like the 401(k) and IRA, are not providing enough income throughout retirement years. I’m looking forward to teaching hardworking people, from all walks of life, how to utilize secure compound interest to maximize their savings and achieve their dream retirement. Always Be Compounding!”
The MPI™ plan is an advanced cash-value life insurance plan specifically designed as a max-funded, increasing death benefit contract. The plan provides holistic benefits to clients which include mitigation against market risk, enhanced compound interest returns, increased retirement income, tax-free distribution and more.
Ray’s passion for retirement planning goes beyond MPI™ UNLIMITED; a best-selling author, Ray tackled the challenges of consistent underperformance in the current retirement planning industry in his 2018 book Everyone Ends Up Poor. In his most recent book, The Lost Science of Compound Interest, Ray deconstructs the phenomenon of compound interest, teaching readers to harness its power through small and simple actions.
“Learning about MPI™ and compound interest has been one of the most valuable things I’ve learned in my life. I have a master’s degree in engineering, yet I have never seen anything like this before,” said Angie Merget, Financial Engineer and MPI™ UNLIMITED client. “Taking the time to understand MPI™ is without a doubt the best thing you can do for yourself and your family.”
The purpose of MPI™ UNLIMITED is to provide services focused on the phenomenon of compounding. Within the next five years, Ray plans to expand their offerings into mortgage, credit repair, personal tax filing and other financial services to give every American the best path to financial freedom.
To learn more about MPI™ UNLIMITED and its retirement planning options, visit www.mympi.com.
About MPI™ UNLIMITED
Founded in 2020 by Curtis Ray, MPI™ UNLIMITED works to provide simplified financial education that addresses complex money topics, so that the public can understand and implement the full potential of Secure Compound Interest in their life. Ray, best-selling author and MPI™ UNLIMITED’s CEO, invented and developed the patent pending MPI™ (Maximum Premium Indexing) Secure Compound Interest Account, in order to help people maximize their retirement savings.
SOURCE MPI UNLIMITED
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