We Paid off $60,000 of Debt!

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November 26, 2016 By Millions Two One Staff

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"625" is the average FICO credit score for Millennials and 650 is the average FICO credit score for individuals 35 – 49 (Generation X) according to Experian and a report published by CBS News.  Low credit scores will prevent applicants from securing business loans, mortgages, auto loans and even credit cards.  22.4% of African American applicants were denied conventional loans according to the Home Mortgage Disclosure Act released in 2015.

Lawrence D. Martin Sr. the CEO and owner of Legacy Credit Firm, LLC said that he started his business after a job loss and a few other life experiences that left him with piles of debt.  Martin said he and his wife were able to pay off $60,000 of debt in four years. 

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Legacy Credit Firm specializes in helping consumers establish excellent credit scores while leveraging those scores to obtain low interest rates.  Martin is the mastermind behind the strategies used to aid business owners in establishing a business credit score to obtain capital for their business.

After being faced with years of debt accumulation, Martin said that he began to take debt and money more seriously.  He ventured out and studied how to budget and practiced debt management.  During this process, while Martin and his wife were preparing to buy their second home, underwriters pulled their credit report and frowned upon a previously paid credit card judgment.  It was at this point that Martin recognized critical credit information was routinely misreported and mishandled by credit bureaus, courthouses and law offices.  Understanding the existence of these major discrepancies, Martin partnered with one of the largest Federal Credit Reporting Act agencies in the country and launched Legacy Credit Firm.

What has been one of your greatest experiences after launching Legacy Credit Firm? 

"In August of this year, I began working with one of my clients named, Reshell Rowe who had a FICO credit score in the low 600s.  As of November, we were able to assist her with getting her credit in the 700s.  A 700 credit score is the land where banks fight over you!  Calling my client and making her aware that she could start looking for a house was a great feeling.  Rowe will be starting a first time home buyers class soon."

Referring to the nagging low credit score that many African Americans have, Martin said, "the poor are paying interest on debt, while the rich are getting interest off of equity.  We have a deficit based mindset, instead of an asset based mindset.  The deficit based mindset shuts down our creative faculties." 

Legacy Credit Firm offers a 6-month Membership on credit audit budget coaching debt analysis, credit repair with unlimited disputes to the credit bureaus and collection agencies and top FCRA and FDCPA attorneys to review client's files for any possible violations.  Legacy Credit Firm also offers a Platinum Membership for Entrepreneurs focused on credit audit financial needs analysis, personal credit repair financial analysis, unlimited disputes to the credit bureaus and collection agencies and business credit profile and funding.  


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Martin noted that the needs of his clients vary and are different.  Expressing that some clients have 40 derogatories and others may only have 3.  "One client had roughly 40 derogatories and we were able to get 18 of them removed in a month and a half."

In the next five to ten years, Martin plans to establish a stronger brand for Legacy Credit Firm and begin franchising in different locations around the country.

For more information on credit scoring, visit www.legacycreditfirm.com or call (407) 443-7550.

Millions Two One is the Largest African American Business Directory in the World.  Millions Two One is an online and mobile application platform that gives users access to Black-owned businesses, organizations and entrepreneurs in the United States, Canada, the United Kingdom, the Caribbean Islands and in Africa.