Client Qualifications
Can someone pursue funding, while getting inquiries removed? LH
Simultaneous Actions: Technically, you can pursue funding (apply for loans or credit) while also working to get inquiries removed from your credit report. However, if you're active ...
If a client has a 700+ credit score but has derogatory remarks on their profile or high utilization, are their options for them to still get funded if they do not want to go through credit repair? - CY - LH
If a client has a good credit score of 680 or greater and they have derogatory marks on their profile they may not get any funding. Depending on what the deragatory mark is will gr ...
Can we have the clients "pay to delete" for collections instead of credit repair? LH
Yes, if its a small debt and the client can afford it, this may potentially be a faster process for the client. If they cannot afford it, send them to credit repair. (LH)
Should we expect worse results from clients with a Sole Proprietorships? CY
We recommend not funding a Sole Proprietorship as it will report any business credit to their consumer(personal) profile. Yes we would see worse results from clients with a Sole P ...
Do clients need credit repair when its basic items they can do themselves? CY
If they have basic items that they can do themselves like having funds for lowering utilization - No they would not need credit repair.If they have inquiries that need to be remove ...
How can we better understand debt to loan ratios effecting credits opportunities? CY
The debt-to-income (DTI) ratio is the percentage of your gross monthly income that goes to paying your monthly debt payments and is used by lenders to determine your borrowing risk ...
What are some things that a client can do to bring down utilization without paying first? CY
There are a few things a client can do to bring down utilization without paying first. Call and ask for SOFT PULL limit increases on the credit cards with the high utilization. ...
Is there a way to potentially fund clients who don’t qualify for business credit and their business does not qualify for a loan. CY
If a client does not qualify for business credit and their business does not have financials the options are very limited to secure them funding.The only option an advisor would ha ...
Does a client need to have a certain percent of ownership in a business to get funding? CY
In most cases a client needs to have 25% or greater ownership in the business to secure funding for the business.
What forms of documents are needed for each type of funding? -LH
0% UNSECURED CREDIT LINE STACKING PROGRAM(FUNDING AVAILABLE WITHIN 14 DAYS) Funding Ranges: $10,000 - $250,000+ Unsecured credit lines at 0% APR for up to 18 months. Funds are 0 ...
Is there a credit age where we simply shouldn’t run the client? CY - LH
When clients have a younger credit age in some cases less than 2 years you can suggest they purchase tradelines to increase their credit age. https://tradelinegenie.org/https://tr ...
What's the minimum credit age for us to be able to still get results for a client? CY - LH
Seven years is deemed the reasonable amount of time it can take to establish a good credit history. Minimum is average age of 2-3 years. The older the better but in some cases that ...
If someone has late pays from over 24 months ago but they have a lot of them, does it still affect funding enough for them to want to go through CR before funding? -LH
Yes, if a client has a ton of late pays even past 24 months, it will effect their funding as bank underwriters and automated systems will still see and "flag" the late pays on the ...
What is the best way to optimize a clients profile? Lamar please review - CY
Profile Optimization: The focus point to helping a client optimzie their profile is to put them in the best possible situation to maximize their funding potential. Following these ...
Does claiming fraud on inquiry removal negatively impact a credit profile? Lamar - please complete - I need to learn more on this
Is there anything we can do for people who are not qualified for 0% stack, business is under 2 years age, BUT they have strong revenue and can prove it? CY
As funding advisors our goal for our clients is to help them secure funding and maximize their potential. If a client is not qualified for our 0% business stack and their business ...
What are the best options for clients with no credit to start building a foundation? complete
If you need help building your credit, the right credit card can make all the difference. Unfortunately, it can be challenging to pick through the advertisements to find the right ...
How do we overcome/identify time wasters? CY - Lamar please review.
Identifying a time waster can be difficult. Time wasters will be people that want to continually speak with you and are not ready to commit to moving forward with anything that we ...
How long does credit repair take? CY
Credit repair has many variables. It depends on what derogatory marks are on their profile. Listed below will be the order of removing items starting from most difficult to least. ...
When it comes to credit repair, what is needed to sign them up? - CY - Review please
We have a new credit professional - Richard. He specializes in account deletions (completely removing the account from the clients profile) Send clients his booking link to get a q ...
What are the requirements of cash flow when submitting clients for business term loans? Lamar - Do we want to post all the requirements from the funding pins in here? Review please
The requirements of cash flow when submitting clients for busienss term loans changes based on the lender.
How do we help someone with high utilization? CY
If a client has high utilization there are a few options to mention to them to lowering their utilizations: Pay down utilizations with their own money if they can (If they canno ...
Which credit score will they use for determining if you qualify in this scenario? - Delete question - scenario is unavailable
What options do clients with thin credit profiles have? CY - please review
A client with a thin profile has minimal options for business funding as their results will be impacted heavily. It is best to build out their personal credit profiles and potentia ...
What tips can we give them to build their credit or for us to help build/optimize their profiles?
If a client who just has a large amound of inquiries that need to be removed what is the next step? cy
If a client has a large amount of inquiries to be remove he does not need to go into credit repair. Create a submission for Inquiry sweeps in Zoho and one of our FA Partners who do ...
Most times clients are paying down their debt to get them qualified for 0% interest funding. How do we know which is the best/fastest option for there situation? CY
There best/fastest option is the option that is obtainable. If the client has their owns means to paying down utilization that is the fastest option If they do not have the me ...