Being a financial group of this scale and having a customer oriented goal is one of the key ingredients to not only success, but more importantly customer satisfaction. We acknowledge our customer’s needs to have healthy financial assessments for their own wellbeing and future financial endeavours. That being said, our primary goal at Global Financial Group LLC is to raise our customer’s financial scores to 700 and beyond.
Our #1 priority is efficiency in our system and to incorporate two methods of action to achieve the goal mentioned above. The two actions, are to remove negative items off your credit report, and help customers to oversee open records. Both actions are done simultaneously to promote speed and improvement to the client’s financial assessment. If the above is slightly puzzling and new to you, we provide a detailed breakdown for you..
Having a strong financial assessment is far more in-depth than simply removing all negative things from it. Most organizations focus on just removing the negative items from your credit report, which in reality only affects 35% of the rating. Our program however, targets the entire FICO Scoring Model. Specifically, each of the 5 classifications in the model will be enhanced to provide the best possible solution in the customer’s overall financial assessment.
At Global Financial Group LLC, we adapt a more interactive approach in our services. We implement what we call a consultative strategy when it comes to credit repair and credit reclamation. Our customers and respective credit counsels meet month to month, to discuss and coordinate efforts for the shared goal. By using face to face, video conferencing, or telephone approach, we are able to guide our customers more effectively to improve and effect the 5 classes in the FICO Scoring Model.
Below we will list the 5 classifications of the FICO Model.
- Late Payments
- Impose Liens
- Reprobate Child Support
Positive actions that affect this classification would be to have open records. Negative actions would be to have unfavorable records on our credit records. To solve that issue, we will question negative things on the credit report and eliminate them. On top of that we will also educate and mentor our customers to make timely bill payments to avoid recurring negative records.
The second classification with a 30% effect on your score is a Spinning Debt Ratio. Spinning records refer to charged card accounts, such as, Bank Revolving (MasterCards, Visa and etc) and Retail Revolving (retail cards in general).
The Spinning Debt Ratio analyzes the credit records and comes up with an Utilization Percentage. The key figure here is a rate of 30%. If the Utilization Percentage is over that amount, then it hurts your FICO assessment, while staying beneath 30% improves it. The class will also decide the usage rate for individual rotating accounts and the overall use rate based on the total credit on all cards.
To maintain a positive rating in this classification, keep the card balance below 10%. In the case the customer has gone beyond 30%, we will set up new credit accounts (if fundamental) and mentor them on how to maintain ideal levels on their spinning accounts.
Carrying a 15% value is the third classification, Period of File. This class computes the customer’s age of a file. In short, this keeps track of when the account was opened. The more drawn out the age of file, the better for the FICO rating.
A record of more than 7 years, or an average age of every open record more than 7 years will benefit this assessment. Keeping accounts open, Charge accounts in particular, will help build a long time record.
Second to last is the blend of credit. This classification plays a 10% role in the FICO Rating, and is known as a mix of credit that evaluates how diverse the types of records are that are open. A solid blend of credit will give the sense that you are capable of managing various sorts of credit.
An example of diverse accounts are:
For Portion Accounts:
- Auto Loans
- Bank Loans
- Understudy Loans
For Spinning Accounts:
- Bank Revolving (Major Credit Cards)
- Retail Revolving (Department Store, Gas Cards, Credit but Non Visa cards)
Positive impact would be given when the customer is able to manage these accounts and make on-time bill payments. A negative effect would be caused when the customer does not have any open records, or simply does not have one kind of record. Our suggested open record layout that we will provide to you guides our customers through how to have 2 major credit cards (Bank Revolving Account), 1 department store card (retail revolving account) and 1 installment account. This will help the customer build a new positive credit.
The final class is simply called, request, and it carries 10% in the rating. This classification determines the number of requests made within a short period of time. An excessive number of requests will hurt the FICO rating. Maintaining a low quantity of requests is advisable, and requests within a 6 month time frame is considered as negative. Our job is to help our customers avoid unnecessary requests by applying for new records where they are more likely to be affirmed.
Our service at Global Financial Group does not stop there. We implement the A.C.T Framework. This stands for Activity, Collaboration/Coaching, and Training. It is the main component of our system that gives us the power and capacity to produce astonishing outcomes.
We take ACTION to cleanse your credit report. We take ACTION by being quick in our actions, questioning, and challenging negative items on your credit report directly with the credit bureau, lenders, courts, and debt collecting offices. Our strategy of re-questioning anything that is not removed after the 30 day examination, allows more things to be expelled from your credit report in a shorter timeframe. By debating all negative things around the clock for 12 rounds, we can assure that all faulty, off base, or unverifiable things will be expelled from your credit report.
Month to month meetings with our credit consultants help us guide you with your credit issues. During these gathering we will help include and oversee open records and how to impact the 5 classifications of the FICO Scoring Model in a positive manner. Below is an example of how a month to month meeting will pan out.
- Prepare and educate you on the FICO Scoring Model and how it relates to your credit report.
- Utilize the latest credit observing tools for your credit report, investigate the credit requirements as indicated by the FICO Scoring Model, recognize qualities and shortcomings.
- You will be taught in this period to keep up practices that will help your FICO rating.
- If you don’t have the base measure of open records, we will help you add those records to your profile.
Examine our procedure for the following round, and answer any inquiries you may have.
TRAINING will be taken care of in our month to month meetings. With sufficient training, you will be able to keep up a high FICO score even after the program is over. Our goal in training you is to educate you on understanding how a credit report works, with the idea that it will prepare you on what to do and what not to do after our program is over.