Did You Know?
by Bruce McInnis Jr (President/CEO - CSA)

If I could show you exactly how to maximize your credit score.....not the simple answer like...positive accounts reporting for as long a period of time as possible, over time, paid on time, right? But the DIRECT answer.......would you want to know?

Let's pretend that you do not have ANY credit and you need to establish and build credit. Where do you go first to try and get an account set up that will report all of the account activity IMMEDIATELY? What if I could show you 18 easy places to go to begin building your credit, would you want to know?

You have a friend, recently divorced, that lost half of the income coming into the household. The trickle down result meant bills were paid late for a couple of months. Your friend was able to get those accounts back to being paid current. This still left every one of those accounts with a 30, 60, 90 day late payment recorded. ANY prior late payment has an extreme score drop associated with it for up to 2 years. What if I could show you how to REMOVE those prior late payment entries on those accounts? Would you want to know how?

You are going for a new job interview when you find out the company hiring needs you to have a stellar credit report. This shows them you are financially stable and responsible with your finances. You have been sick, in the hospital and out of the workforce now for 2 years. You have medical bills that have stacked up with no income coming in and collections from them. Your credit is in the tank. What if I had a reference letter that I could send to that potential company, that would allow you to be screened without any regard to your credit standing? Would you be interested?

I started out in this industry 18 + years ago thinking that every loan officer, real estate agent, finance manager or ANYONE with the ability to pull credit.....KNEW the credit system FOR SURE! At least those taking loan applications surely knew it and how to do all of things I mention above. I was invited to Arizona by Chicago Title, Ticor Title and a few mortgage companies back in early 2003. They gathered Branch Managers and LO's from almost 100 mortgage companies and I presented my company at the Gilbert High School, to them. I created a powerpoint presentation that stated 22 bullet points highlighting my credit education system. I thought what I had to share would not be that big a deal. But I was wrong. I noticed immediately that when I would announce the bullet point.....the entire gym went silent. People were scrambling to find a pen and paper to write down what I was teaching them. This went on until I took my first break, about an hour into the presentation. Several of my account executives had also traveled from Utah and Colorado to be at this event and we met during this break down in the gym. I asked each AE to watch the crowd as I would hesitate when announcing the next bullet point so that they could see the effect on those people. It was very redeeming to hear after that presentation from hundreds of finance professionals, many still referring me business today, that what I taught them, they had never known of or had ever heard about. I told them that I only knew of it because the Credit Information Center (Equifax) was located NEXT DOOR to my office on West End in Nashville. They have since moved to Atlanta....but I went to meetings conducted THERE. Some of those people I met that day were 40/50 year veterans of the industry. They were so excited to have us into their staff meetings showing their LO's how to close loans that were being denied with low credit scores, by applying simple techniques I taught.

The devil's advocate........I have to play that one too. Unfortunately when you have something that can be SOOOOO good for people, there are also those in society that would take it and dress it up to look like the same product or program YOU have....it looks identical! They claim their allegiance to education and they can remove ANYTHING in 30 days! In fact, they even lie on the initial letter FOR the new client. They list the accounts they are trying to challenge and the reason for the dispute is marked, "NOT MY ACCOUNT" or "NOT MY JUDGMENT" . That is a lie in 99.9% of the cases. The likelihood of it "NOT being their's" is very unlikely. Approximately 900 credit repair companies form EVERY single year. You have been bombarded in this industry by them. If you found someone that does good work helping your clients.....stay with them.....but that is NOT the norm. I invite you to try something else, education FIRST.....increase literacy....and you will increase the number of qualified loan applicants for everyone.