November 9, 2020
A Conversation with Dale Marco of Best Credit Rx Credit Repair
At GoPrime Mortgage of West Asheville, we want everyone to have a fair chance at buying a home. That means if you need credit repair before you can get approved for a mortgage, we want you to get all the assistance available to you. Best Credit Rx, Dale Marco is an expert on the subject, both as a former credit repair client and now a business owner. We thought it would be great to get to know her a little bit. We sat down to talk to Dale, and here is our conversation.
Hi Dale, it’s great to talk with you. We’d love to hear more about you and your business to share with our readers.
My name is Dale, and I am a mother of four. I love gifs and emojis, so if we’re texting at any point, expect to see a minimum of one emoji- potentially a gif- per message.
I grew up in North Texas, loving and admiring superheroes like She-Ra and Wonder Woman. I appreciated the strong female role models of these characters with their “feel-good feelings” of being a good guy or gal doing the right thing.
I graduated with a Bachelor’s in Art with minors in Business Administration and Spanish from the University of North Texas. Early career paths included project management in the Fashion Industry. After the economic effects of 2008, an unexpected job loss, and an emergency delivery of my first child with her continued health complications, I knew that keeping my family’s head above water financially was going to be difficult.
I tried to do the right thing and reached out to my creditors to make alternative arrangements to maintain our responsibilities, but we took a challenging financial and credit hit. Years later, after the economy leveled out, I sought a reputable credit repair company’s assistance and was introduced to Best Credit Rx.
Best Credit Rx is a boutique-style credit repair company. We strive for excellence in individual customer service and strongly emphasize education for the future. The company was founded to solve a growing marketplace problem: individuals and families who find it increasingly difficult to ascertain affordable credit necessary to purchase cars, homes, pay for their children’s college, and open low-interest rate credit card accounts. We assist them in repairing their credit profiles by working to remove inaccurate items on their reports and by coaching them on how to add positive accounts, create a better history, and plan for the future.
What are some of the myths people believe about credit and credit repair?
Oh goodness, there are so many! The most common ones I hear relate to paying collections, credit card usage, and not needing credit at all.
Regarding the collections, you see a lot of misinformation out there. Credit Karma is a great tool to watch your credit, but there are some drawbacks, too. Credit Karma’s scores are based on a scoring model called Vantage. However, mortgage lenders use a different model called FICO. Since the majority of the people I work with want to be homeowners and obtain a mortgage, it is important to use the FICO scoring model when reviewing credit and working on credit repair for mortgage approval purposes. Credit Karma will suggest collections to pay and with Vantage, consumers will see immediate rewards on their credit score even though the collection is not removed from reporting. I’ve seen clients improve their FICO profile when that collection is deleted from reporting in exchange for payment. Those are two different approaches with different results depending on which scoring model is used.
The other challenge area with myths is card balances. Many people believe if they run a card balance up to its limit and pay it off the same day or before the billing cycle, there won’t be any negative impacts on their profile. That’s not correct. When it comes to utilization, the bureaus want to see that you keep those balances below 30% every day of your 30-day billing cycle.
I also hear many people say they can get a great score by not having any credit. Many people are really hesitant to open credit cards. I totally understand it, credit cards can be horrible if not used appropriately. But used correctly, they’re a tool to build good credit. Not having cards open actually negatively impacts your profile because you don’t have any open utilization. Having no credit cards affects your utilization ratios and your credit mix. I’ve seen significant improvements to people’s credit profiles just by opening 2-3 credit cards and using them appropriately over time.
What are the first steps you recommend if they want to repair their credit?
They should get a copy of their credit report and see what’s on it. Before taking any action, get advice from a professional. You can mess up your credit more by not following the appropriate steps and making the wrong moves. They should build a relationship with a reputable lender in their area who can recommend an esteemed credit repair company if needed. They should also make sure they’re helping themselves first by opening up credit cards if they haven’t already.
Approximately how long does the process take?
In a non-pandemic world, the process takes about 5-7 months. There are, of course, clients who are done in much less time, and some who are with us for marginally more. Our goal is to work as fast as legally possible to help a client reach their goals.
What can someone expect to happen if they begin the process of credit repair?
The usual process, after enrollment, starts with an audit. We look for the good, the bad, and the ugly to see what can be done. Should the client choose to move past the audit, we dispute items with the credit bureaus and debt collectors. We change up our methods after reviewing the client’s profile every 35-45 days until we’ve completed our process and have verified the items on a person’s report for accuracy. Most clients see some type of deletion or results within the first 30-45 days. That’s not saying that they’ve skyrocketed to mortgage pre-approval, but they’ve seen some type of movement on the negative items on their report.
As soon as our client has met their goal, we stop repair and return them to their lender. Sometimes wrapped in a bow, but that depends on how sassy we’re feeling that week! 😉
What one thing would you tell someone hesitant to use credit repair?
I’ve been there. I’ve gone through the credit repair process myself, and because of those results, I decided to work for the same company that helped me. I eventually took over as its owner. Hesitation is understandable for sure. Do your research; read the reviews and believe them. There are, without a doubt, companies out there that don’t have your best interest at heart. If you hear claims of promised results that sound too good to be true or requests for several hundred or thousands of dollars; be wary. Look for a company that warranties their service, too. That’s always a good sign. Keep in mind that credit repair is a 50/50 process. To see optimal results, you as the client have to commit to doing your part too.
Don’t Wait, Call Today.
Best Credit Rx is a fee-based service. Whether you choose that route or want to check out no-cost options, we encourage you to start today. You can find additional services through HUD counselors here. GoPrime is not affiliated with Best Credit Rx and has not been and has not been paid or incentivized in any way to recommend Best Credit Rx.
Don’t let embarrassment over your credit situation impact your future as a homeowner. Call GoPrime at 828-348-1907 so we can direct you to the right solution for your finances.
Do you want to know about the process to apply for a mortgage? GoPrime Mortgage in West Asheville is here to help. Call us today –Zachery Adam at GoPrime Mortgage in West Asheville.
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It’s important to Zack that he and his team are approachable and can provide assistance to home buyers who are often inundated with misinformation about the financial picture and mortgage options. In an automated culture reliant on digital communication, it’s time to put the human element back into these conversations. He could never be behind the scenes.
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