Joe shares a story about a client who lost several rental homes and cars due to a case of mistaken identity – but it’s definitely not what you think. Listen and enjoy.

Interview highlights: How a good financial manager can use your credit history backstory to reverse an initial credit rejection.

“A really good financial manager – whether auto or mortgage  – will typically be the person who pulls your credit file and examines it. The job of a good credit manager is to explore those issues with you.

Lazy Finance Manager

“A young man visited us at the car dealership. He had filed for bankruptcy, but we noticed that he had good credit two years prior to filing. He lost a couple of mortgages/houses to foreclosure and 3 vehicles were repossessed. We realized that there must have been an event. We told him that the banks need to know what happened to you – your story.

He said it was a case of mistaken identity.

“That piqued our interest. We said, ‘What do you mean by mistaken identity?’ He responded: ‘I was mistaken for someone else and shot 5 times. While  in the hospital, I lost my homes and my vehicles.’

“This was  confirmed by over 100k in medical bills. The bank said it didn’t want anything to do with him. We replied, ‘You need to hear his story.’

“The bank finally said, OK, we will do the deal with at least 5k down. It wasn’t a problem. He was a tradesman in the construction industry and was good at what he did. He was able to get his new truck, his credit on track, bought another house and wiped out the issues that plagued his credit history.

“Most people think that the banks don’t care about your backstory. They do, but someone must advocate on your behalf and tell them what happened. Unless they know there is a backstory, they will look at a deficient credit report and reject it out of hand.

“Here’s the key: We waited for the bank’s turn-down. At that point, we knew which credit analyst was looking at the submission, contacted him, explained the backstory, and the decision was turned around.

“If you’re applying for credit, particularly with car dealerships, your initial contact will be the financial manager at the car dealership. While some are lazy and will drop it from the start, others  will go the extra step and try to convince the bank that this is a contract worth considering. Finding yourself a good dealership who is ready to be your advocate is an important issue.

“It’s based on relationships – do I want to do business with these people? In the mortgage industry, you’re still dealing with a point person. It may be the loan person at the bank or at the mortgage company. There should be one person you can talk to directly. They want to put the deal together and are looking for reasons. You need to have a good backstory.

To your credit!

Dr. Joyce Starr

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Credit Guru Joe Stallard: How to Repair Your Credit

Rights Radio.com features credit guru Joe Stallard: Lifting the shroud of secrecy on credit issues, credit repair, credit bureaus and how you can raise your credit score. Following a career spanning some 15 years in financial services, Joe Stallard has gained valuable insights into the inner workings of the credit …

Credit Report “How to” + Backstory: Explaining Your Negative Credit Score originally appeared on Rights Radio™ with Dr. Joyce Starr - An Independent Voice on February 18, 2011.

Purchase the audio replay on Starr Publications.com.

Purchase the Insiders PDF Report: How to Repair Your Credit Score.

Highlights:

• How many years does a negative item remain?
• Can credit card companies deny a favorable rating even when overdue bills are paid?
• What if derogatory items are not removed?
• Isn’t it more difficult today to file for bankruptcy?

“There is so much secrecy around this arena. Let me give you an example. People today have access to their credit records today only because congress enacted this right into law. When several congressmen ran into credit issue problems, they began to understand that is a highly secretive and powerful world. This industry doesn’t want you to know a great deal. Once the credit bureaus satisfy their legal requirement of giving you this free report, you could soon find yourself mired in a mess of corporate policies and non-responsiveness to the consumer.”

Purchase the audio replay at Starr Publications.com.

Purchase the Special Insiders PDF Report: How to Repair Your Credit Score.

Joe Stallard is a member of the Rights Radio Braintrust. You can purchase a one-on-one consultation with Joe about your credit score repair problems. Contact Us for Information.

How to Repair Your Credit Score. Listen to this RightsRadio.com show for answers. originally appeared on Rights Radio™ with Dr. Joyce Starr - An Independent Voice on July 27, 2008.

Following a career spanning some 15 years in financial services, Joe Stallard has gained valuable insights into the inner workings of the credit and finance industry. His experience includes both the auto industry, where he was the "dreaded" finance manager, and the mortgage industry as a loan officer.

Joe discusses credit issues – including credit repair, recovering from bankruptcy and dealing with the credit bureaus – in a practical, no-nonsense approach sure to get results.

Lifting the shroud of secrecy surrounding the credit and finance world, he offers the consumer a common-sense strategy for dealing with real-world issues that impact the majority of people today.

Joe will address the ten most common questions that he encounters.

Listen to Rights Radio on July 16, 2008 at 5:00 PM EST for the answers. Join our mailing list below & receive a direct link to the LIVE show. Call-In Number (US/Canada): 1.888.815.9756

A few highlights:

• I have always had a sterling credit rating, or so I thought. Yet, my credit score is still not very good. Why is this and can I do anything to raise the score?
• How can I get derogatory stuff removed from my credit report?
• When I contacted the credit bureau about removing a derogatory item, they said that they had confirmed" the bad item. What’s up with this and how can I change it?

Joe Stallard is a member of the Rights Radio Braintrust. If you would like a private, one-on-one telephone session with Joe, please visit our Contact page.

Credit Guru Joe Stallard: How to Repair Your Credit originally appeared on Rights Radio™ with Dr. Joyce Starr - An Independent Voice on July 1, 2008.