Personal Finance

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Table of Contents

• Personal Finance Solutions For Everyone
• Your Credit Score: Know It Before You Blow It
• Credit Scoring Models And How To Use Them
• A Specialized Finance Network Just For You
• Show Me The Lenders
  • Personal Loans
  • Specialty Loans & Financing

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Personal Finance Solutions For Everyone

TriMark Legal Funding is committed to helping injured plaintiffs, financially challenged, and credit-challenged people get the money they need, right when they need it most.

Anyone who gets injured and falls behind on their bills will eventually incur some degree of credit damage; it’s inevitable. These are the type of people that legal funding was always meant to help. The reality, however, is that many people do not qualify for legal funding for any number of reasons. And of the ones who do, some don’t qualify for as much money as they need.

On top of that, tens of millions of uninjured people have credit problems that are preventing them from getting the money they need too.

Whichever group you’re in, TriMark is here to help.

Credit problems can be as minor as a late payment or two or as serious as charged-off debts, defaulted loans, foreclosures, judgments, tax liens, or any of a hundred other things. The point is, once it affects your credit scores, it can be impossible to get any financial assistance from banks and traditional lenders.

TriMark has built a nationwide network of alternative lenders and financial service providers. It includes many different types of lenders and even some important personal financial services as well.

Your Credit Score: Know It Before You Blow It

Everyone knows that credit scores play a crucial role in a lot of life’s activities; that includes borrowing money. So it should come as no surprise that the logical first step is to find out exactly what your current credit scores are. With that information, you can match your credit scores to the most appropriate lenders. By doing this, you will be taking the most important step to maximize your likelihood of getting approved.

You can get your Equifax and Transunion credit reports and credit scores (Vantage) instantly, 100% free of charge, from CreditKarma.

If you’re already a member, check your scores before you apply. If you’re not a member yet, stop what you’re doing, take a minute right now and join immediately. There is no reason not to; it’s fast, it’s free, you don’t have to buy anything, and it doesn’t affect your credit scores. The most powerful benefit is that CreditKarma updates your credit scores daily. There is no better, faster, or cheaper way to get your credit scores, even if you went to each credit bureau directly.

Credit Scoring Models And How To Use Them

There are two primary credit scoring models that are used by most lenders; FICO and Vantage. As you can see in the charts below, they are similar but different, especially on the edges of the different classifications. Not all lenders will tell you, but it can be helpful to inquire which model a lender you intend to apply with uses. Here is the average breakdown of credit scores across America, using both models, according to Experian:

A Specialized Finance Network Just For You

TriMark can help borrowers with nearly all types of credit profiles. Depending on the credit scores you just received, proceed to the following areas and apply when you find an appropriate lender:

Good, Very Good, Excellent, and Exceptional Credit (FICO 670-850 | Vantage 661-850)

• If you have good, very good, excellent, or exceptional credit (per the credit scoring charts above), you will find numerous lenders in our network who offer super-competitive rates and terms that can rival or beat many traditional lenders.

Fair Credit (FICO 580-669 | Vantage 601-660)

• This designation is a “grey area” and it’s a perfect illustration of why it is so important to get your current credit scores before you apply to any lenders. As you can see in the charts above, a 580-600 FICO score is “fair”, but a 599 or lower on Vantage is “poor”. Likewise, a Vantage score of 661 is “good”, but the same score is only “fair” with FICO. But take heart, because we have plenty of lenders and lots of different loan products to serve this category.

Poor Credit (FICO 300-579 | Vantage 300-599)

• Also referred to as “bad credit”, “subprime credit”, or “deep subprime credit”. Your level of difficulty finding a lender will depend on how low your scores are and the type of financing you are seeking. Depending on market conditions and the type of financing you need, scores of about 550 or higher can usually find lenders willing to help.
  ACTION STEPS YOU CAN TAKE:
• Credit scores this low are caused by obvious financial problems being reported and will continue holding you back until you take action to change them. We encourage you to review your credit reports carefully, identify the obvious problem areas and formulate an action plan.
• Discuss your situation with a debt relief specialist. Depending on the specific cause(s), they may be able to offer a debt consolidation loan or credit card consolidation loan.
• Contact a reputable credit repair company to help you clean up your credit reports and increase your scores.

Okay, now that you’ve got your current credit scores and you understand a bit about the different scoring models, it’s time to get down to brass tacks and take a look at the different funding categories that are available to you.