In this episode, we welcome Sam Parker, CEO and founder of My Credit Guy, so we can dispel a few myths vehiculated in the mortgage industry.
[1:05] Sam is introduced as well as his philosophy and his business formula.
[2:50] The bad reputation credit repair has is unfortunately well earned. Sam explains why and how his company does things differently.
[6:40] My Credit Guy will establish current client needs but will also work on the long term with credit education and budgeting.
[10:05] Proactive communication is key, working with loan officers will require touching base every time a milestone is hit with a client.
[14:02] Some credit restoration specific myths are debunked, starting with Jen’s two pet peeves: high limit ratios and specifics about paying off collections.
[25:09] Profit and loss or charge offs are fancy ways to say the collection still belongs to the original creditor and has not been sold to a third party.
[27:10] Some credit related myths that loan officers tend perpetuate are covered, from closing credit card accounts to today’s credit “bad guys”.
[35:55] More myths are struck out: from goodwill deletions to short sales and touching on loan officers claiming to be performing credit repair.
[43:20] Sam talks about a few credit monitoring programs and recommends IdentityIQ.
[45:39] Contacting Sam via email is the quickest way to get in touch with him.
[48:37] Sam is currently reading Gary Vaynerchuk, and has enjoyed revisiting Napoleon Hill.
Mentioned in This Episode: