Understanding Credit Repair 

https://s.phonesites.com/v0/b/phonesites-prod.appspot.com/o/images%2FYg3lYlMeadQ2pO7kANsBjB5VlNz2%2F1606586202707*logo*jpg?alt=media&token=efe0f387-dc30-41b2-b65e-05f20741d90a
Who is MD Credit and how can credit repair help me or my clients? 

MD Credit can partner with you to help your prospects that do not qualify for a house at the moment due to credit issues. We offer a 6 month (on average) service that will help your prospect learn the credit system for life and achieve results!  

The client will have to follow along with recommendations to add new accounts and to build a better credit profile. They also receive a Monthly Call, 24/7  customer service, and a monthly credit report breakdown. 

Ask yourself if just 5% to 10% of your prospects with credit issues bought from you in 6 to 12 months from now. Would that make a difference in your pay and lifestyle? 

We help them restore credit and send them back to you when they are ready 

MD Credit is a locally owned, licensed, and insured Maryland Small Business 

We have the experience and results

Our mission is to help thousands of people improve their credit so much that it will help change their lives. 


To understand Credit Repair you need to understand the credit scoring system

We will go over some common questions... 

1. How is one's credit score calculated? 
2. How can I boost my credit score fast? 
3. Does Credit Repair actually work? 
4. How often should I check my credit? 
5. How to do you handle a consultation? 

How is one's credit score calculated? 

https://s.phonesites.com/v0/b/phonesites-prod.appspot.com/o/images%2FYg3lYlMeadQ2pO7kANsBjB5VlNz2%2F1645626939063*Factors*JPG?alt=media&token=1003b9d0-14ec-43d1-87b4-6450155dbab6
A system created in the 50's from the Fair Isaac and COmpany (FICO)

- Payment History - Makes up 35% of your score 
-Capacity and Amount Owed - Makes up 30% of your score 
- Length of Credit - Makes up 15% of your score 
-New Credit and Inquiries - Makes up 10% of your score
-Types of Credit Accounts - Makes up 10% of your score 

How can I boost my credit fast? 

https://s.phonesites.com/v0/b/phonesites-prod.appspot.com/o/images%2FYg3lYlMeadQ2pO7kANsBjB5VlNz2%2F1571793460178.6D41F440-56EB-4FAD-BFF9-A5C70FB13509.jpeg?alt=media&token=557d3f74-04aa-465c-9c02-0cfc5ea1859b
Credit repair takes time. It takes time to establish bad credit, and it will take more time and good habits to rebuild it.  You can start by adding good accounts while factual disputing credit report errors or negative items.  The bureaus generally take 35 to 40 days to respond to a dispute. Paying down credit card balances, establishing new accounts, and learning to budget are the first steps! 
This process can take anywhere from 6 months to 12 months (sometimes more!) 

Does Credit Repair Actually Work? 

Yes! 
Credit Repair does work. 
It does take time but when done correctly and consistently results are proven. 
Clients and any Credit Repair company should be a team. They have to still practice great habits and can't do anything outlandish like apply for new loans or increase credit debt. 

How often should I check my credit? 

It's a great practice to view at least monthly. 

You can also get a free report every year  from https://www.annualcreditreport.com/

Other companies like Smart credit, IdentityIQ, and more can help monitor and alert you of any issues or changes to your credit. 

How do you handle a credit consultation? 

We set up a call with the client and ask questions regarding their current credit situation. If they have 20 to 30 minutes we will usually set them up with a Credit Monitoring service to review their current credit scores and report. We will then look over and give advice on some things that they can work on themselves with or without us. 

Credit Ranges and what it usually takes to get there

760 - 800+ credit requirements

100% On-Time Payment History
 ZERO Derogatory Marks 
1 to 7 % Total Credit Card Utilization 
9 years + average account age
Multiple accounts in Revolving, Installment, and Open
Total Accounts reporting - 21 + 
Credit Inquiries ( in last 2 years ) 

660 - 759 credit requirements

99% On-Time Payment History
ONE or less Derogatory Marks 
8 to 19% Total Credit Card Utilization 
7 to 8 years + average account age
One in Revolving, Installment, and Open
Total Accounts reporting 16 to 20 + 
Credit Inquiries ( in last 2 years ) 1 to 2

620 - 659 credit requirements

98% On Time Payment History 
TWO or less Derogatory Marks 
20 to 49% Total Credit Card Utilization 
5 to 6 years + average account age
two out of 3 accounts either Revolving, Installment, or Open
Total Accounts reporting - 11 to 15+ 
Credit Inquiries ( in last 2 years ) 4 or more 

580 - 619 credit requirements

97% On Time Payment History
Three or less Derogatory Marks
 50 to 74% Total Credit Card Utilization
 2 to 4 years + average account age
one out of 3 accounts either Revolving, Installment, or Open
Total Accounts reporting - 6 to 10 accounts 
Credit Inquiries ( in last 2 years ) 5 to 8

 300 to 579 credit requirements

96% or less On Time Payment History 
Four or more Derogatory Marks 
75% or more Total Credit Card Utilization
2 or less average account age
zero out of 3 accounts either Revolving, Installment, or Open
Total Accounts reporting - 0 to 5 
accounts
Credit Inquiries ( in last 2 years ) 9 or more
https://s.phonesites.com/v0/b/phonesites-prod.appspot.com/o/images%2FYg3lYlMeadQ2pO7kANsBjB5VlNz2%2F1617755263086*sean*jpg?alt=media&token=343012c1-aac2-4ed4-a288-c7a6193bad47

"Better Credit, Better Life"