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05-17-2018, 10:39 AM #1
- Join Date
- Oct 2016
- Posts
- 4,318
Never really understood credit repair services. Doesn’t it require just paying off debt?
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05-17-2018, 10:46 AM #2
- Join Date
- Feb 2018
- Posts
- 48
West Coast, give me a call. I'd be happy to hop on a call with you and discuss how intrinsic our business is to financial companies growth. You'd be surprised what really goes into this business. 732.784.3888 ask for Dan.
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05-19-2018, 11:44 AM #3Karen37aGuest
No West Coast
A lie or fallacy has been passed like a telephone game that you really cant do anything about your credit except wait to time it out.
On the other hand, there are credit repair companies that are good and some that are unethical...95 % were unethical, so they passed laws about surety bonds, charging upfront, work performed reasonable costs etc..chased alot of them out. Morgage brokers got really good and cleaning up credit, and waiting for a period of time before the client could buy a house; because clients can not have 30 days lates or collections in the last 2 years...they will be denied.So you learn how to clean it up or wait.
This all falls into better underwriting as well because someone with a bad credit score with high utilization ratios on credit is not the same as someone with 90days late on their home mortgage and defaults on 3 credit cards.
Some boiler rooms are going thru files we receive and tossing the ones who we see are one step away from bankruptcy or we are waiting 1 week to submit a file because we know the credit will move from 580 to 630 thru credit scoring algorithms and matrix and balances or whatever negative thing can be cure so they are not primed for default
( This is another benefit of taking files from real isos they are scrubbing the files, which = higher approval ratios,less wasted paper and time, hight closing ratios and low defaults)
You can search these posts from years ago, I had a huge "debate" with someone over this, I went into detail on the exact algorithms and systems...even explained how certain zip codes can be pinged.
I use to do a "fco is the enemy" speech back in the day...ill save the dramatics.Last edited by Karen37a; 05-19-2018 at 05:02 PM.
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05-23-2018, 11:59 AM #4
- Join Date
- Feb 2018
- Posts
- 48
Morning Karen,
I have an extremely busy schedule, but I'd like to hop on a call with you. Would you have a few minutes tomorrow?
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05-23-2018, 03:48 PM #5
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05-27-2018, 09:54 PM #6
- Join Date
- Dec 2015
- Posts
- 608
Credit can be repaired by either addition or omission, kind of like how you embellish about this girl that was so into you, while omitting that the light was dim, you were drunk and throwing up outside the bar, and the number she gave you had 5 digits.
You can remove inquiries, (easy and cheap) or derogatories (harder and more expensive), or you can add high limit trade lines; giving a user access to more credit usage can increase their score by 50 - 150 points in 30 to 45 days if done right.
Our dumbleads.com merchants range from 500 to 800 so no one goes homeless except by choice.
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