Getting Michael back to banking.
Michael owed $17,000 to various credit companies, including his credit card, overdraft, his department store credit card and Canadian Tire credit card. While all the items were in collections, we were contacted by the collection agency dealing with his largest debt of $8,000.
His illness left him owing.
When we spoke to Michael, he told us he had an illness 10 months ago that prevented him from working. During that time, he needed to use his credit cards to survive. Now healthy and returned to work, Michael was ready and willing to pay his debts.
Approval. Negotiation. Settlement.
During Michael’s application, he provided his income amount and frequency. We also looked at his credit bureau and how he’s spent his earnings over the last 90 days. Michael was approved and his LM Credit expert began negotiating his debts to the lowest amount possible. We confirmed with his creditors that cumulatively we could clear everything up for $9,547.89—if we paid that same day. His file was submitted to our underwriting team and 20-minutes later he was granted the loan and Michael’s bills were paid that day.
Consolidated and back on track.
With just one bi-weekly payment and his bills instantly paid, Michael saw an immediate positive jump in his credit score. He also benefited from our reporting program, helping his credit score continue to grow month after month. Michael’s credit score will be completely rehabilitated in 2 years, ensuring he can go into the bank and get any financial product he wishes.
Helping Renatta’s house dreams.
Renatta owed $2,987.49 to a phone company and was trying to get her financial house in order. Just newly married, she and her husband wanted to start working towards buying a home. When her phone bill was sent to collections, Renatta was determined to pay down the debt. Given several lender options, Renatta chose LM Credit to help her out.
An important conversation.
When she called, Renatta explained her situation and told LM Credit that she had just started a new job—not even three months ago. With this key information, our underwriting team was able to take a hands-on approach to review and approve her for the loan.
New job, new dreams, new life.
Renatta understood her credit was bruised and that the best way to elevate her credit score immediately was with LM Credit’s help. She was happy to pay the higher interest rate on her monthly loan with us. Renatta now has a plan in place that makes sense, so she and her husband can focus on home ownership and their new life ahead.
Our Testimonials are true client stories, client names and images have been changed to protect their privacy.