Credit Repair in Maryland & D.C.

Our Goal

Our goal is to get our client’s credit scores to 700 and greater.

To achieve this goal we do two things. One, we get negative items off the credit report. Two, we help our clients to strategically add and manage open accounts. We do both things simultaneously to cause a rapid and dramatic increase to the credit score.

Unlike many other companies, we take a very consultative approach to credit repair and credit restoration. Our clients meet monthly with their credit advisor in-person, through on-line video conferencing, or over the phone, whichever one they choose.  It is during these collaboration/coaching meetings that we employ strategies to impact all 5 categories of the FICO Scoring Model.  This is in addition to a vigorous campaign to remove inaccurate, unverifiable and unknown negative items from the credit report.. Our goal is to cause a rapid and dramatic increase to the credit score, allowing our clients to more quickly enjoy the benefits from a great credit rating.

Max Score Credit on BMore Lifestyle

Sharon Craig, CEO of Max Score Credit joins Chardelle and Christina to offer good credit tips and advice on all your credit questions.

 

FICO Scoring Model

 

Our program is designed to impact all 5 categories of the FICO Scoring Model. Unlike other companies who’s focus is almost 100% on removing negative items, which only impact 35% of the credit score, we also help to add and manage open accounts. This comprehensive approach puts our clients in the best position to improve their credit scores.

Payment History – 35%

35% of our credit scores are payment history. Payment history includes any negative items on the credit report, such as:

  • Late Payments
  • Collections
  • Charge-offs
  • Judgments
  • Foreclosures
  • Tax-Liens
  • Bankruptcies
  • Repossessions
  • Delinquent Child Support

Payment History is positively impacted when we make on-time payments on open accounts.

  • Actions that POSITIVELY impact this category
    • Having open accounts and making on-time payments on those accounts
  • Actions that NEGATIVELY impact this category
    • Any derogatory accounts on our credit report

Max Score Credit Actions

We will dispute derogatory items on the credit report to get them removed. We will also help to establish more accounts that are generating a positive payment history (if necessary). Through our monthly meeting we encourage (coach), our clients to pay their bills on time.

Revolving Debt Ratio – 30%

30% of our credit scores are revolving debt ratio. Revolving accounts are credit cards accounts. There are two types: Bank Revolving (major credit cards: Visa, MasterCard, American Express, Discover); and Retail Revolving (department store, gas cards, basically every other type of credit account that IS NOT a major credit card).

This category compares the credit limit of the account, with the credit balance of the account, and determines a UTILIZATION PERCENTAGE.

Example: $1,000 credit account limit, with a $500 credit account balance would mean this account is 50% utilized.

Anytime this percentage is above 30%, then this account is HURTING the credit score. When this percentage is below 30%, it is helping the credit score.

This category will also determine the utilization percentage for INDIVIDUAL revolving accounts, and will ALSO determine the OVERALL utilization percentage by comparing the TOTAL credit limits on ALL cards, with the TOTAL balances on ALL cards, and determining the OVERALL utilization percentage.

  • Actions that POSITIVELY impact this category
    • Keeping credit card balances CONSISTENTLY low. Our recommendation is balances at 10% or less of the credit limit.
  • Actions that NEGATIVELY impact this category
    • When credit card balances are too high, above 30%.

Max Score Credit Actions

We will help to establish new credit accounts (if necessary), and train our clients on the optimum levels to keep their credit card balances. Through our monthly meetings we also encourage and “coach” our clients to consistently maintain low balances on their revolving accounts

Age of File – 15%

15% of our credit score calculates our Age of File and Average Age of File. This calculation is done using the “date opened” of open accounts. The longer the Age of File and Average Age of File, the better for the credit score.

  • Actions that POSITIVELY impact this category
    • Keeping accounts open, especially credit card accounts, over time will develop a long age of file. One account over 7 years old, or an Average Age of all open accounts that is greater than 7 years will help this category.
  • Actions that NEGATIVELY impact this category
    • Closing the wrong accounts, or not having accounts that have been open for a significant period of time, will hurt the credit score

Max Score Credit Actions

We will implement strategies to increase the Age of File/Average Age of File. We will also train our clients on which accounts to close and which to keep open to maintain a long credit age.

Mix of Credit – 10%

10% of our credit score is our Mix of Credit. This category is looking at do we have different TYPES of accounts open.   Having a strong mix of credit tells new creditors that you are capable of financially handling different types of credit.

Here are the different types:

  • Installment Accounts:
    • Mortgages
    • Car Loans
    • Bank Loans
    • Student Loans
  • Revolving Accounts:
    • Bank Revolving (Major Credit Cards)
    • Retail Revolving (Department Store, Gas Cards, all other credit accounts that are not major credit cards)
  • Actions that POSITIVELY impact this category
    • Having a good mix of installment and revolving accounts, paying the bills on-time and keeping credit card balances low.
  • Actions that NEGATIVELY impact this category
    • Not having ANY open accounts, or just having one type of open account.

Max Score Credit Actions:

Our program is designed to help clients achieve a good mix of credit. We have determined that at a MINIMUM a client should have:

  • 2 Major Credit Cards (Bank Revolving Account)
  • 1 Department Store Card (Retail Revolving Account)
  • 1 Installment Account

If the client does not have this minimum configuration of open accounts, then we will help them establish new positive credit.

Inquiries – 10%

Anytime we apply for new credit it counts as an Inquiry. Too many inquiries will hurt the credit score.

  • Actions that POSITIVELY impact this category
    • Keep the number of inquiries as low as possible. Inquiries will stay on the credit report for 2 years. Inquiries within the last 6 months are especially negative.
  • Actions that NEGATIVELY impact this category
    • Having too many inquiries

Max Score Credit Actions:

We will help the client avoid needless inquiries by only applying for those new accounts where the client is highly likely to be approved. We will also provide training and strategies on how to avoid accumulating needless inquiries.

 

A.C.T. System

ACTION, COLLABORATION/COACHING, TRAINING

Our A.C.T. System is the power behind our ability to create amazing results.

 

Action: We take ACTION on your behalf to challenge inaccurate, unverified, and questionable items on your credit report. We dispute these items directly with the credit bureau’s, and in some cases directly with the creditors, courts and collections agencies. Because we dispute by correspondence (letter) only, if the derogatory item is not removed after the 30 day investigation is completed, we will be able to re-dispute the item immediately. This method results in more items being removed from your credit report in a shorter period of time, compared to companies that dispute on-line and only dispute a portion of the negative items each month. We dispute ALL negative items, every month for 12 rounds, until all questionable, inaccurate, or unverifiable items are removed from your credit report.

Collaboration/Coaching: Our collaboration/coaching is done in the form of monthly, or “end of round” office or on-line meetings. These meetings are where you meet one-on-one  with your credit advisor.   At these meetings we will help add and manage open accounts. Our goal is to positively impact all 5 categories of the FICO Scoring model. Here is an example of how a monthly meeting is conducted:

  • Review which derogatory items were removed from your credit report as a result of our credit repair efforts.
  • Provide training on the FICO Scoring Model in preparation for a detailed discussion of your credit report
  • Using the most recent credit monitoring service credit report, analyze the credit report according to the FICO Scoring Model identifying strengths and weaknesses. You will be coached and encouraged during this period to maintain behaviors that will help your credit score.
  • If you do not have the minimum amount of open accounts, we will help you add those accounts to your credit profile.
  • Discuss our strategy for the next round, and answer any additional questions you may have.

Training: Through our monthly meetings we provide training to educate you on how to maintain a high credit rating even after our program is over. We want you to have a clear understanding of the different elements of the FICO Scoring Model, so that credit reports and scoring are no longer a mystery. We will help you model the correct behavior throughout our program, and then train you on what to do and not to do after our program is over

Testimonials

We believe we offer the most effective and comprehensive system to repair and restore credit. Our believing it is not enough. You must believe, and to do that you need to see real results. We’ve recorded an entire library of video and audio testimonials in our client’s own words.

View Testimonials

 

Client Web Portal

 

The Client Web Portal is where our clients can login 24/7 and get real-time results of their program. They can also download their credit reports, track negative items that are in dispute and those have been deleted or repaired, track their credit scores, and read training articles related to credit reports and credit scoring.