1
00:00:23,840 --> 00:00:27,080
Speaker 1: All right, guys, welcome back to the earlier Leisure Podcast,

2
00:00:27,480 --> 00:00:29,640
Speaker 1: episode eighteen eighteen.

3
00:00:29,720 --> 00:00:32,280
Speaker 2: Damn really eighteen already, I'm just listening to fifteen.

4
00:00:33,200 --> 00:00:36,080
Speaker 3: I'm still on fifteen actually, Yeah, time fly, time fly.

5
00:00:36,240 --> 00:00:38,280
Speaker 3: So we are fresh off of our LA trip.

6
00:00:38,760 --> 00:00:39,440
Speaker 4: Shout out to LA.

7
00:00:39,479 --> 00:00:41,120
Speaker 1: Yeah, we talked about that later on. We had a

8
00:00:41,120 --> 00:00:43,760
Speaker 1: good time out there. Shout out to California. We got

9
00:00:43,760 --> 00:00:44,680
Speaker 1: a lot of love out there.

10
00:00:44,800 --> 00:00:48,160
Speaker 4: Yeah. Man, it was overwhelming to see people come out.

11
00:00:48,560 --> 00:00:50,559
Speaker 4: Like I said, like, we had no we didn't know

12
00:00:50,560 --> 00:00:53,159
Speaker 4: anyone in LA and we left with the family of

13
00:00:53,200 --> 00:00:54,720
Speaker 4: people that are with us. So that's dope.

14
00:00:54,760 --> 00:00:56,360
Speaker 1: Yea, we go in detail. We're going to detail that

15
00:00:56,360 --> 00:00:59,680
Speaker 1: at the end. Well, we got a very special episode today.

16
00:01:00,320 --> 00:01:02,600
Speaker 1: One of the biggest requests that we have been getting

17
00:01:02,600 --> 00:01:05,400
Speaker 1: for a very long time is credit. You know, I'm

18
00:01:05,400 --> 00:01:07,600
Speaker 1: a financial advisor and people ask me about credit all

19
00:01:07,640 --> 00:01:09,880
Speaker 1: the time and not something I really specialize in.

20
00:01:10,400 --> 00:01:12,479
Speaker 3: So we we had to cover credit.

21
00:01:12,560 --> 00:01:17,120
Speaker 1: Like you can't have a financial podcast and not cover credit, right, Yeah,

22
00:01:17,360 --> 00:01:18,320
Speaker 1: it's mandatory.

23
00:01:18,480 --> 00:01:22,160
Speaker 2: So you know, moving vehicle for any financials you do

24
00:01:22,200 --> 00:01:22,640
Speaker 2: these days.

25
00:01:22,640 --> 00:01:22,800
Speaker 3: Man.

26
00:01:24,560 --> 00:01:26,480
Speaker 1: So when we you know, we were talking about credit,

27
00:01:26,520 --> 00:01:28,039
Speaker 1: you know, we had to get a specialist, and so

28
00:01:28,080 --> 00:01:28,760
Speaker 1: that's what we did.

29
00:01:28,800 --> 00:01:30,160
Speaker 3: We got Andy Suco.

30
00:01:30,319 --> 00:01:34,560
Speaker 1: Who is a specialist, guru, whatever you want to call

31
00:01:34,600 --> 00:01:36,520
Speaker 1: it in the credit industries. Work with a lot of

32
00:01:36,520 --> 00:01:39,720
Speaker 1: celebrities doing the radio, and more importantly, he works with

33
00:01:39,920 --> 00:01:42,520
Speaker 1: regular everyday people and helps him improve their credit. So,

34
00:01:42,560 --> 00:01:45,399
Speaker 1: first and foremost, thank you, thank you for joining us.

35
00:01:45,400 --> 00:01:48,480
Speaker 2: Welcome for having me. Appreciate it. I love it, feel energy.

36
00:01:49,120 --> 00:01:50,800
Speaker 2: It's different when you're listening and when you're here, like

37
00:01:50,840 --> 00:01:51,440
Speaker 2: all right.

38
00:01:52,760 --> 00:01:53,400
Speaker 3: Nah for sure.

39
00:01:53,520 --> 00:01:56,440
Speaker 1: So so yeah, so we are going to cover a

40
00:01:56,480 --> 00:01:59,760
Speaker 1: broad range of different topics today. We're gonna answer a

41
00:01:59,760 --> 00:02:02,200
Speaker 1: lot of questions that we got on Instagram, and hopefully,

42
00:02:02,200 --> 00:02:04,400
Speaker 1: you know, we're going to provide some very very valuable

43
00:02:04,400 --> 00:02:07,559
Speaker 1: information when it comes to credit because as our merch

44
00:02:08,639 --> 00:02:12,200
Speaker 1: merch line, yeah you know, every creep, yeah yeah, everything

45
00:02:12,280 --> 00:02:14,040
Speaker 1: ninety four, it was cream, it was that, it was

46
00:02:14,080 --> 00:02:16,720
Speaker 1: cash fos everything around me. Well we're in twenty nineteen

47
00:02:16,800 --> 00:02:19,120
Speaker 1: right now, so now it's credit rules everything around me, right,

48
00:02:19,639 --> 00:02:21,160
Speaker 1: So that's that's that's the age that.

49
00:02:21,080 --> 00:02:21,840
Speaker 3: We're in right now.

50
00:02:21,880 --> 00:02:24,600
Speaker 1: So before we start, we're going to tell some personal stories.

51
00:02:24,600 --> 00:02:26,040
Speaker 1: If you listen to the podcast, you know, we'd like

52
00:02:26,080 --> 00:02:29,240
Speaker 1: to actually get real personal about, you know, stuff, and

53
00:02:29,320 --> 00:02:32,919
Speaker 1: it's not just like telling things third story, third person.

54
00:02:33,360 --> 00:02:36,000
Speaker 1: We actually let you in on our personal lives. So

55
00:02:36,080 --> 00:02:37,880
Speaker 1: me and Troy both have credit story. So Troy, you

56
00:02:37,880 --> 00:02:39,519
Speaker 1: want to start off with the credit story, yeah, man.

57
00:02:39,440 --> 00:02:42,160
Speaker 4: And I think we will. It's well documented the process

58
00:02:42,160 --> 00:02:43,720
Speaker 4: of me getting this home, and we're talking about the

59
00:02:43,760 --> 00:02:47,840
Speaker 4: appraisal and that was the first step. But before we

60
00:02:47,880 --> 00:02:49,720
Speaker 4: could even get to the apraisal process, I had to

61
00:02:49,720 --> 00:02:53,240
Speaker 4: get approved for a loan and a scary party. It

62
00:02:53,280 --> 00:02:54,840
Speaker 4: was scary, and I was working with with a friend

63
00:02:54,880 --> 00:02:57,960
Speaker 4: of mine, and you know, I was pretty familiar with

64
00:02:58,000 --> 00:03:02,079
Speaker 4: the three bureaus, you know, Experience, TransUnion, and Equal Facts.

65
00:03:02,120 --> 00:03:04,200
Speaker 4: And I looked at my score. You know, I had

66
00:03:04,280 --> 00:03:07,600
Speaker 4: used Credit Carmer and Famous. I started with them, the

67
00:03:07,600 --> 00:03:09,520
Speaker 4: famous Credit Carmer. You know, it was for free, and

68
00:03:09,560 --> 00:03:10,480
Speaker 4: then I actually paid.

69
00:03:10,840 --> 00:03:12,680
Speaker 3: Yeah, nothing was free in this country.

70
00:03:13,200 --> 00:03:17,639
Speaker 4: Fact, So I paid the service because you know, I'm

71
00:03:17,680 --> 00:03:19,000
Speaker 4: trying to get a loan. I need to be serious

72
00:03:19,040 --> 00:03:21,120
Speaker 4: about this. I paid TransUnion, I paid all three girls,

73
00:03:21,520 --> 00:03:24,240
Speaker 4: and I looked, I righted. You know, I had like

74
00:03:24,280 --> 00:03:28,240
Speaker 4: a six ninety five average, not great but qualifies is good.

75
00:03:28,720 --> 00:03:30,679
Speaker 4: And in order to get the loan, I had to

76
00:03:30,720 --> 00:03:33,360
Speaker 4: have a six fifty scores. So I'm like, great, I

77
00:03:33,400 --> 00:03:34,440
Speaker 4: tell my boy run the credit.

78
00:03:34,520 --> 00:03:34,880
Speaker 3: It's good.

79
00:03:34,920 --> 00:03:37,240
Speaker 4: And he was worried about the inquiries. I'm like, it's good.

80
00:03:37,280 --> 00:03:40,160
Speaker 4: I checked them, I paid, we're good. He calls me

81
00:03:40,280 --> 00:03:43,240
Speaker 4: and he says, we got a problem, and I'm like,

82
00:03:43,400 --> 00:03:46,040
Speaker 4: what's the problem. He's like, the scores a five twenty

83
00:03:46,040 --> 00:03:49,560
Speaker 4: five and I'm like first reaction was like, nah, this

84
00:03:49,640 --> 00:03:51,680
Speaker 4: is this is identity that. This has to be identity

85
00:03:51,760 --> 00:03:54,280
Speaker 4: that but no, it's not me. Like he was like,

86
00:03:54,320 --> 00:03:56,920
Speaker 4: all right, look give me a social again. We're gonna

87
00:03:56,960 --> 00:04:00,320
Speaker 4: run it again. But you know, the inqueries is starting up.

88
00:04:00,360 --> 00:04:02,440
Speaker 4: I'm like, no, running again, that that's not me. I'm

89
00:04:02,440 --> 00:04:04,640
Speaker 4: looking at my scores. I texted him. He's like, I'm

90
00:04:04,680 --> 00:04:08,320
Speaker 4: not sure what was happening. So I looked the I

91
00:04:08,320 --> 00:04:10,520
Speaker 4: looked at the report and I saw some things that

92
00:04:10,560 --> 00:04:13,960
Speaker 4: were there, one being the United States Department of Education.

93
00:04:14,400 --> 00:04:16,200
Speaker 4: They had a loan on there that you know. I

94
00:04:16,240 --> 00:04:17,600
Speaker 4: was like, this doesn't even make sense. You know, I

95
00:04:17,640 --> 00:04:20,799
Speaker 4: had Sally Maine. I was nabbying and combined at the Salidad.

96
00:04:20,920 --> 00:04:22,080
Speaker 3: But they didn't close it.

97
00:04:22,120 --> 00:04:24,520
Speaker 4: So it looked like I had some I had two

98
00:04:24,560 --> 00:04:29,200
Speaker 4: loans exactly my dad to ratio. That ratio was high,

99
00:04:29,240 --> 00:04:32,440
Speaker 4: so I got that knocked off. Uh, And then I

100
00:04:32,480 --> 00:04:35,200
Speaker 4: started looking the other things. I started educating myself and

101
00:04:35,320 --> 00:04:36,760
Speaker 4: one of the things I was looking at, I was like, wait,

102
00:04:36,760 --> 00:04:39,119
Speaker 4: they have credit cards on there, but that's not mine.

103
00:04:39,120 --> 00:04:42,360
Speaker 4: I'm just an authorized user for that card. So that

104
00:04:42,480 --> 00:04:46,719
Speaker 4: debt was added on to it. And then I looked

105
00:04:46,720 --> 00:04:48,760
Speaker 4: and I was like, you know what, why are we

106
00:04:49,000 --> 00:04:51,240
Speaker 4: seeing both two different scores? And then it hit us

107
00:04:51,520 --> 00:04:53,680
Speaker 4: my mortgage broken and myself. We were like, oh, they're

108
00:04:53,720 --> 00:04:56,520
Speaker 4: using your fight Go score and I was like, huh,

109
00:04:57,040 --> 00:04:59,120
Speaker 4: like what we have three bureaus and then using a

110
00:04:59,120 --> 00:05:01,480
Speaker 4: different score. He's like, you're using your fycal scores. So

111
00:05:01,520 --> 00:05:03,520
Speaker 4: then I was like, all right, well what's that. I

112
00:05:03,520 --> 00:05:06,559
Speaker 4: had to educate myself again, paid again. So I became

113
00:05:06,680 --> 00:05:09,120
Speaker 4: a member of my fyco dot com and when I

114
00:05:09,160 --> 00:05:11,120
Speaker 4: saw it was like I sold a five twenty five.

115
00:05:11,160 --> 00:05:13,880
Speaker 4: I'm like, no, this is really me, this is really me.

116
00:05:14,320 --> 00:05:17,080
Speaker 4: And it opened my eyes because I was like, wait,

117
00:05:17,600 --> 00:05:20,640
Speaker 4: there's different type of fighter scores right, there's like a

118
00:05:20,720 --> 00:05:22,320
Speaker 4: one tooth up to which is it?

119
00:05:22,360 --> 00:05:25,200
Speaker 2: Not We'll advantage ten right now, fantas ten so like

120
00:05:25,480 --> 00:05:27,440
Speaker 2: so experience uses advantage ten right.

121
00:05:27,480 --> 00:05:30,159
Speaker 4: So each bureau uses something different and I was just like,

122
00:05:30,160 --> 00:05:32,600
Speaker 4: all right, this is crazy now, Like I'm just crazy.

123
00:05:32,839 --> 00:05:34,320
Speaker 4: So I keep going. I'm digging. I'm like, I have

124
00:05:34,520 --> 00:05:36,960
Speaker 4: this is a time sensitive right this this housing deal

125
00:05:36,960 --> 00:05:39,040
Speaker 4: has to get done within two months. There's a lot

126
00:05:39,040 --> 00:05:40,880
Speaker 4: of dominoes that will fall, Like if I don't get

127
00:05:40,880 --> 00:05:43,640
Speaker 4: the loan, then you know, my brother can't move, then

128
00:05:43,640 --> 00:05:47,200
Speaker 4: we can't have the house. So I started digging deeper.

129
00:05:47,240 --> 00:05:50,480
Speaker 4: I see, like my utilization rate, which is how much

130
00:05:50,520 --> 00:05:52,359
Speaker 4: money you're using from a credit card. And at the

131
00:05:52,360 --> 00:05:53,600
Speaker 4: time I had a best Spot card. It was not

132
00:05:53,760 --> 00:05:56,119
Speaker 4: crazy one thousand dollars, but I had used eight hundred

133
00:05:56,120 --> 00:05:58,240
Speaker 4: and I have bought like a new TV, so like that's

134
00:05:58,320 --> 00:06:00,839
Speaker 4: eighty percent of the card. I'm like, all right, well,

135
00:06:00,880 --> 00:06:03,360
Speaker 4: I'm gonna pay that off. So I did. I paid

136
00:06:03,360 --> 00:06:05,360
Speaker 4: it off. But on top of it, I was like,

137
00:06:05,440 --> 00:06:07,760
Speaker 4: I know we're in time sensitive. So I said, I'm

138
00:06:07,760 --> 00:06:09,920
Speaker 4: gonna call it best buyer the customer service I MNSA

139
00:06:09,920 --> 00:06:14,640
Speaker 4: speak to to their debt department. I'm like, listen, the

140
00:06:14,640 --> 00:06:16,400
Speaker 4: credit report apartment, and I'm like, look, when do you

141
00:06:16,440 --> 00:06:19,000
Speaker 4: guys report to the bureaus? Like I was just bold

142
00:06:19,000 --> 00:06:20,320
Speaker 4: like that, like when do you report? And they're like, well,

143
00:06:20,400 --> 00:06:23,720
Speaker 4: usually don't do that. And the lady was like open,

144
00:06:23,800 --> 00:06:25,400
Speaker 4: she was like, you know what, I understand the circumstance.

145
00:06:25,400 --> 00:06:27,599
Speaker 4: I'll help you out. We report on the twenty first.

146
00:06:27,680 --> 00:06:30,320
Speaker 4: So I was like, bat, I'm gonna have this paid

147
00:06:30,320 --> 00:06:32,400
Speaker 4: by the tenth and I need you guys to report

148
00:06:32,400 --> 00:06:33,760
Speaker 4: it by the fifteen. They were like, we'll do it

149
00:06:33,800 --> 00:06:36,039
Speaker 4: for you because we understand the circumsift. I went to

150
00:06:36,080 --> 00:06:37,159
Speaker 4: my next car. I was like, I had a major

151
00:06:37,160 --> 00:06:38,880
Speaker 4: this card only five hundred dollars, but I used four

152
00:06:39,000 --> 00:06:41,440
Speaker 4: hundred dollars for a suit, so my utilization right like

153
00:06:41,480 --> 00:06:43,719
Speaker 4: ninety percent. Like I am gonna pay that one down.

154
00:06:43,760 --> 00:06:47,520
Speaker 4: Boom did it, and they were like all right cool.

155
00:06:48,240 --> 00:06:49,680
Speaker 4: When I was so I'm like, when do you report,

156
00:06:49,760 --> 00:06:52,600
Speaker 4: they were like the sixth or every month, So I'm like,

157
00:06:52,640 --> 00:06:55,120
Speaker 4: all right, well we're at the fourth perfect they sent

158
00:06:55,160 --> 00:06:57,600
Speaker 4: thiss in. I got it in time, right, so like

159
00:06:58,080 --> 00:07:00,680
Speaker 4: in a month, in a month, a month and a half,

160
00:07:00,760 --> 00:07:02,760
Speaker 4: I went from like a five to twenty five to

161
00:07:02,800 --> 00:07:05,760
Speaker 4: like a seven hundred just because I educated myself on

162
00:07:05,839 --> 00:07:09,960
Speaker 4: it and was relentless, Like I was on the phone

163
00:07:10,240 --> 00:07:14,280
Speaker 4: every day with the credit department, the credit bureaus. I

164
00:07:14,320 --> 00:07:16,160
Speaker 4: was on the phone with the Department of the like

165
00:07:16,200 --> 00:07:18,640
Speaker 4: at one point I wish I would recorded the conversation

166
00:07:18,760 --> 00:07:22,400
Speaker 4: that one of the customer service women were like, thank you.

167
00:07:22,720 --> 00:07:26,280
Speaker 4: I was giving her information because that's how well I

168
00:07:26,320 --> 00:07:27,880
Speaker 4: had like studied, And it was like, you know what,

169
00:07:28,560 --> 00:07:32,280
Speaker 4: pretty much like my family's like generational wealth is on

170
00:07:32,320 --> 00:07:34,040
Speaker 4: the line if I don't get this this credit card.

171
00:07:34,440 --> 00:07:36,720
Speaker 4: And by the grace of God, man, we got it done.

172
00:07:37,400 --> 00:07:39,560
Speaker 4: So it was beautiful. But like there were a lot

173
00:07:39,560 --> 00:07:41,480
Speaker 4: of people's like, hey, you should pay for this service,

174
00:07:41,520 --> 00:07:44,080
Speaker 4: and I was like for what, man, Like you know,

175
00:07:44,120 --> 00:07:45,800
Speaker 4: I don't have the time, Like usually I tell you

176
00:07:45,880 --> 00:07:48,560
Speaker 4: it's like five to six months, and we can change

177
00:07:48,560 --> 00:07:50,000
Speaker 4: your school, we can get it. I'm like, I got

178
00:07:50,040 --> 00:07:51,480
Speaker 4: thirty days, you know.

179
00:07:51,600 --> 00:07:54,000
Speaker 2: I mean the interesting stories of the story. Actually I

180
00:07:54,000 --> 00:07:56,400
Speaker 2: don't need to cut into shot story. But a lot

181
00:07:56,440 --> 00:07:58,160
Speaker 2: of that's what you said is things people need to know.

182
00:07:58,200 --> 00:07:59,800
Speaker 2: Those maintenance on your credit that's things you can do

183
00:08:01,000 --> 00:08:04,800
Speaker 2: and DCI detritalization, keep your debt thirty percent low debt

184
00:08:04,880 --> 00:08:08,440
Speaker 2: high score, high debt low score, you know, and we'll

185
00:08:08,440 --> 00:08:09,200
Speaker 2: get into that more.

186
00:08:09,600 --> 00:08:12,040
Speaker 1: Yeah nah yeah, So I mean it's crazy that you

187
00:08:12,080 --> 00:08:13,600
Speaker 1: was able to raise your credit score one hundred.

188
00:08:13,800 --> 00:08:17,080
Speaker 4: That doesn't really had long Yeah, it was crazy.

189
00:08:16,760 --> 00:08:19,440
Speaker 3: But it was. If not, you wouldn't have had a.

190
00:08:19,360 --> 00:08:22,000
Speaker 4: Home, right, And like the thing is like my friends,

191
00:08:22,000 --> 00:08:23,800
Speaker 4: like my friends got to watch this happened, so, like,

192
00:08:24,120 --> 00:08:26,680
Speaker 4: I mean, it's well documented. So when Rashade came up

193
00:08:26,680 --> 00:08:28,000
Speaker 4: with the idea like yea, you should do the house,

194
00:08:28,000 --> 00:08:29,800
Speaker 4: I was like, great, all right, my credit card is good.

195
00:08:30,360 --> 00:08:33,360
Speaker 4: No it wasn't. Right, quickly found out no, it wasn't.

196
00:08:33,480 --> 00:08:36,640
Speaker 4: But and it's important too, Like so that FCO score.

197
00:08:36,920 --> 00:08:38,400
Speaker 4: Like I was able to get a car because my

198
00:08:38,880 --> 00:08:40,839
Speaker 4: the Fycal score that they would use was like maybe

199
00:08:40,840 --> 00:08:43,840
Speaker 4: FICO four, right, So that was for car landing. I

200
00:08:43,880 --> 00:08:45,520
Speaker 4: was able to get a car. I was able to

201
00:08:45,559 --> 00:08:48,240
Speaker 4: get credit cards because they used FYCO six. Right, But

202
00:08:48,280 --> 00:08:51,520
Speaker 4: if I wanted a home, I wasn't good. And that's

203
00:08:51,520 --> 00:08:52,920
Speaker 4: something I don't think people really know. Man.

204
00:08:53,000 --> 00:08:55,480
Speaker 2: Yeah, the whole vantage system how it works. You see

205
00:08:55,480 --> 00:08:57,760
Speaker 2: the things with each credit virors, they create their own

206
00:08:57,880 --> 00:09:01,480
Speaker 2: score off of the bat is reported to that, so

207
00:09:01,559 --> 00:09:03,640
Speaker 2: not every bank reports the all three viewers. That's why

208
00:09:03,679 --> 00:09:05,640
Speaker 2: one score is gonna be higher than the other one.

209
00:09:06,000 --> 00:09:07,839
Speaker 2: But then for the real day of a mortgage, that's

210
00:09:07,840 --> 00:09:11,120
Speaker 2: my fighter because it's giving you the overall picture in

211
00:09:11,200 --> 00:09:12,520
Speaker 2: one snapshot, right.

212
00:09:12,400 --> 00:09:14,480
Speaker 4: So that's important. So like if you're trying to get

213
00:09:14,480 --> 00:09:17,319
Speaker 4: a home, make sure you check your fighter school.

214
00:09:17,080 --> 00:09:18,240
Speaker 3: Now and don't wait till last minute.

215
00:09:18,280 --> 00:09:18,640
Speaker 4: Don't wait.

216
00:09:18,720 --> 00:09:20,240
Speaker 3: Ye gotta know what you gotta know beforehand.

217
00:09:20,520 --> 00:09:23,520
Speaker 1: So my story is a little less anybody that all right,

218
00:09:23,640 --> 00:09:25,360
Speaker 1: So me and trying to have a good dynamic because

219
00:09:25,400 --> 00:09:26,480
Speaker 1: Choy is like a real.

220
00:09:28,120 --> 00:09:31,360
Speaker 3: He's like a good guy.

221
00:09:31,720 --> 00:09:35,200
Speaker 1: Yeah, he has like a model family, like you know,

222
00:09:35,360 --> 00:09:37,360
Speaker 1: he has a house and you got the whole thing.

223
00:09:37,800 --> 00:09:41,120
Speaker 1: I'm a little more radical, So my story is a

224
00:09:41,160 --> 00:09:43,480
Speaker 1: little bit more radical. And I'm gonna tell you this

225
00:09:43,559 --> 00:09:46,360
Speaker 1: story and don't try this sound par discretion.

226
00:09:48,400 --> 00:09:52,400
Speaker 3: This was years ago, right, I was young and I

227
00:09:52,400 --> 00:09:53,720
Speaker 3: needed money for an investment.

228
00:09:54,200 --> 00:09:56,280
Speaker 1: I need like thirty thousand dollars for an investment, right,

229
00:09:57,080 --> 00:09:58,559
Speaker 1: and at the time I didn't really have any money

230
00:09:58,640 --> 00:09:58,800
Speaker 1: like that.

231
00:09:58,920 --> 00:10:01,000
Speaker 3: I had some money saved to go into my stating.

232
00:10:00,840 --> 00:10:03,480
Speaker 1: Right, So I'm like Okay, where gonna get thirty thousand

233
00:10:03,520 --> 00:10:03,920
Speaker 1: dollars from?

234
00:10:03,960 --> 00:10:04,160
Speaker 3: Right?

235
00:10:04,240 --> 00:10:07,200
Speaker 1: So I trying to get a bank loan that didn't work,

236
00:10:07,400 --> 00:10:08,800
Speaker 1: and I'm like, I really don't have anybody I can

237
00:10:08,840 --> 00:10:11,360
Speaker 1: call thirty thousand dollars from. So I'm like, but I

238
00:10:11,400 --> 00:10:14,200
Speaker 1: gotta get thirty thousand. So at the time, I had

239
00:10:14,240 --> 00:10:16,040
Speaker 1: really good credit. I still have good credit. I have

240
00:10:16,120 --> 00:10:22,319
Speaker 1: really good credit. So I got cash events from one

241
00:10:22,320 --> 00:10:22,760
Speaker 1: credit card.

242
00:10:22,840 --> 00:10:23,360
Speaker 3: Let me see this.

243
00:10:23,520 --> 00:10:25,080
Speaker 1: So I got cash advance with one credit I was

244
00:10:25,080 --> 00:10:27,240
Speaker 1: like two thousand dollars. So I'm like, you know what,

245
00:10:28,559 --> 00:10:31,240
Speaker 1: run it up? So I spent two days applying to

246
00:10:31,320 --> 00:10:34,240
Speaker 1: every credit card that I cant right, and I got

247
00:10:34,040 --> 00:10:35,720
Speaker 1: to I got approved from every credit card that I

248
00:10:35,720 --> 00:10:37,720
Speaker 1: applied for. I got like twelve credit cards in the

249
00:10:37,720 --> 00:10:40,320
Speaker 1: course of a weekend, and it was like two thousand

250
00:10:40,320 --> 00:10:42,040
Speaker 1: and five thousand, seven thousands. But by the end of

251
00:10:42,160 --> 00:10:45,800
Speaker 1: three days, I had thirty thousand dollars in cash advances.

252
00:10:46,840 --> 00:10:48,960
Speaker 1: But I didn't know what before I did that, and

253
00:10:49,000 --> 00:10:50,960
Speaker 1: a lot of people still don't know. Is that so

254
00:10:52,040 --> 00:10:56,120
Speaker 1: with the cash events, well, let me back it up.

255
00:10:56,200 --> 00:10:58,679
Speaker 1: It was ah, they had they were they were all

256
00:10:58,760 --> 00:11:04,320
Speaker 1: running specials that you can balance transfer balance transfer specials

257
00:11:04,320 --> 00:11:07,160
Speaker 1: with zero percent interest for like eighteen months, twelve months,

258
00:11:07,160 --> 00:11:09,280
Speaker 1: twenty four months, right, But a lot of times people

259
00:11:09,320 --> 00:11:11,839
Speaker 1: don't realize that with the balanced transfers, you can actually

260
00:11:11,920 --> 00:11:15,280
Speaker 1: take a cash advance and you don't pay any interest

261
00:11:15,360 --> 00:11:17,280
Speaker 1: for eighteen months. Very dangerous because at the end of

262
00:11:17,280 --> 00:11:20,640
Speaker 1: the eighteen months, now all of those other months have

263
00:11:20,960 --> 00:11:22,559
Speaker 1: Now you got to pay the interest for the back

264
00:11:22,640 --> 00:11:24,559
Speaker 1: eighteen months, so you gotta be careful with that. It's

265
00:11:24,559 --> 00:11:26,679
Speaker 1: like twenty percent interest. But long story short, that it

266
00:11:26,679 --> 00:11:28,439
Speaker 1: all figured out. So I said, okay, look, this is

267
00:11:28,480 --> 00:11:31,000
Speaker 1: a thirty thousand dollars loan that I'm gonna get interest

268
00:11:31,000 --> 00:11:33,560
Speaker 1: free for eighteen to twenty four months. If I can't

269
00:11:33,600 --> 00:11:38,520
Speaker 1: flip that in two years, shame on me. So long

270
00:11:38,559 --> 00:11:44,080
Speaker 1: story short, I leveraged myself to the tilt and I did.

271
00:11:43,960 --> 00:11:45,880
Speaker 3: A very speculative investor.

272
00:11:46,520 --> 00:11:48,680
Speaker 1: Wely go into what it was, but it was highly

273
00:11:48,720 --> 00:11:52,160
Speaker 1: speculative and the results of it I'll tell on a

274
00:11:52,200 --> 00:11:56,040
Speaker 1: different podcasts, But I say this to say the power

275
00:11:56,160 --> 00:11:59,040
Speaker 1: of credit. I wouldn't be able to raise thirty thousand

276
00:11:59,080 --> 00:12:02,439
Speaker 1: dollars in a week getting true in my twenties if

277
00:12:02,440 --> 00:12:03,240
Speaker 1: it wasn't for credit.

278
00:12:03,320 --> 00:12:07,600
Speaker 3: Right, So credit can be a very powerful tool if

279
00:12:07,640 --> 00:12:08,319
Speaker 3: you use properly.

280
00:12:08,440 --> 00:12:10,640
Speaker 1: Like I said, I don't recommend anybody do what I

281
00:12:10,679 --> 00:12:13,040
Speaker 1: did because that was extremely dangerous.

282
00:12:13,520 --> 00:12:15,000
Speaker 4: I hope did that. So you have to go.

283
00:12:15,080 --> 00:12:19,360
Speaker 1: Yeah, but but just know that there are a lot

284
00:12:19,400 --> 00:12:23,440
Speaker 1: of different tactics that you can use and you have

285
00:12:23,520 --> 00:12:26,520
Speaker 1: to be careful. But it can you know, you can

286
00:12:26,559 --> 00:12:28,400
Speaker 1: make you can make money off of it. The key

287
00:12:28,400 --> 00:12:29,840
Speaker 1: is to make money with other people's money.

288
00:12:29,880 --> 00:12:32,040
Speaker 4: That's my favorite line I think you've ever said. Hold

289
00:12:32,080 --> 00:12:34,800
Speaker 4: the podcast, it was like powerful too, very dangerous.

290
00:12:35,000 --> 00:12:36,640
Speaker 3: It's very dangerous. All right.

291
00:12:36,679 --> 00:12:38,800
Speaker 1: So now we're gonna go into some we're gonna we're

292
00:12:38,800 --> 00:12:40,360
Speaker 1: gonna start, we're gonna chop it up, and we're gonna

293
00:12:40,360 --> 00:12:42,880
Speaker 1: break it down. So you talked about FCO score, right,

294
00:12:43,160 --> 00:12:44,760
Speaker 1: can you just explain the FCO.

295
00:12:45,080 --> 00:12:47,520
Speaker 2: So FYCO is fair isaacredit company. They don't want to

296
00:12:47,559 --> 00:12:50,240
Speaker 2: creates the whole score from all three viewers for you.

297
00:12:50,559 --> 00:12:52,679
Speaker 2: They use the latest vantage, but it'll be vantage ten,

298
00:12:52,760 --> 00:12:54,800
Speaker 2: vantage eight that we're using that we ad vantage ten.

299
00:12:55,040 --> 00:12:56,600
Speaker 3: They use the latest vantage. So what is it? What

300
00:12:56,640 --> 00:12:57,839
Speaker 3: is that? Because people might not know what.

301
00:12:57,920 --> 00:13:00,280
Speaker 2: So it's the way the score is created that that's

302
00:13:00,280 --> 00:13:03,680
Speaker 2: put into the score. So they don't pick every single

303
00:13:04,600 --> 00:13:08,480
Speaker 2: like let's say your marketing Express card. Certain cards they

304
00:13:08,480 --> 00:13:10,600
Speaker 2: pick up and they create the score. So the department

305
00:13:10,600 --> 00:13:12,280
Speaker 2: that's why I speak by the department store card, they

306
00:13:12,280 --> 00:13:14,800
Speaker 2: don't have your credit that much, So stay away from them.

307
00:13:14,880 --> 00:13:16,600
Speaker 2: Stay into the basa of the master guards and so forth.

308
00:13:16,600 --> 00:13:18,160
Speaker 2: Those are the ones that create the score for you.

309
00:13:18,440 --> 00:13:22,120
Speaker 2: And then your payment history, how much new credit you have, utilization,

310
00:13:22,240 --> 00:13:23,560
Speaker 2: that's all that's calculated to it.

311
00:13:23,840 --> 00:13:27,560
Speaker 1: Okay, okay, so all right, So as far as like,

312
00:13:27,600 --> 00:13:32,360
Speaker 1: there's different factors that determine your credit score, right right, correct?

313
00:13:32,559 --> 00:13:34,679
Speaker 1: What is some of the key factor is that people

314
00:13:34,760 --> 00:13:35,520
Speaker 1: should be aware of.

315
00:13:36,320 --> 00:13:38,560
Speaker 2: One of the major factors I see this on everyone's

316
00:13:38,559 --> 00:13:41,480
Speaker 2: credit report is utilization. Just like you were talking about.

317
00:13:41,960 --> 00:13:44,319
Speaker 2: You know, you need to keep your utilization under thirty percent.

318
00:13:44,600 --> 00:13:47,120
Speaker 2: Once you start hitting thirty one thirty two percent of

319
00:13:47,160 --> 00:13:50,320
Speaker 2: that utilization, your score drops significantly and it takes two

320
00:13:50,400 --> 00:13:52,520
Speaker 2: months STU billing cycles for it to go up unless

321
00:13:52,520 --> 00:13:54,880
Speaker 2: you call the bank, like you didn't ask them just

322
00:13:54,880 --> 00:13:56,680
Speaker 2: to do a courtesy for your A lot of people

323
00:13:56,679 --> 00:13:57,960
Speaker 2: don't know how to do that right or they don't

324
00:13:58,000 --> 00:13:59,920
Speaker 2: they don't know they could do that. So one of

325
00:14:00,040 --> 00:14:03,079
Speaker 2: them is a keep the utilization very low thirty percent

326
00:14:03,160 --> 00:14:07,280
Speaker 2: or below. Let's see you have five cards and excuse me,

327
00:14:07,520 --> 00:14:10,080
Speaker 2: and you instead of use putting all the charges on

328
00:14:10,080 --> 00:14:12,679
Speaker 2: one card, split it across three cards to keep it

329
00:14:12,760 --> 00:14:15,480
Speaker 2: under thirty percent. Your score will stay high. Second thing

330
00:14:15,559 --> 00:14:18,280
Speaker 2: is increase six increases a year. If you do more

331
00:14:18,280 --> 00:14:22,400
Speaker 2: than that, your score drops each increase two point five points. Right,

332
00:14:23,320 --> 00:14:25,880
Speaker 2: and banks only give you what this the other banks

333
00:14:25,920 --> 00:14:28,080
Speaker 2: give you. So if you apply for in your scenario,

334
00:14:28,280 --> 00:14:29,840
Speaker 2: if you do that now, it would have been hard

335
00:14:29,840 --> 00:14:32,000
Speaker 2: for you to get all those cards, right because banks

336
00:14:32,040 --> 00:14:35,120
Speaker 2: are title giving our credit. So banks don't give you

337
00:14:35,160 --> 00:14:36,560
Speaker 2: what this the other banks will give you. So let's

338
00:14:36,560 --> 00:14:39,120
Speaker 2: say you apply for City Bank or Chase today. You

339
00:14:39,160 --> 00:14:41,360
Speaker 2: got to deny it. There's an increa there. If another

340
00:14:41,360 --> 00:14:43,160
Speaker 2: bank don't see a card open up, they're not going

341
00:14:43,200 --> 00:14:45,800
Speaker 2: to extend the credit to you, right, So new credit

342
00:14:46,200 --> 00:14:46,480
Speaker 2: all right?

343
00:14:46,640 --> 00:14:47,960
Speaker 3: So so thirty percent.

344
00:14:48,040 --> 00:14:50,600
Speaker 1: So if you have ten thousand dollars in credit available,

345
00:14:50,680 --> 00:14:52,920
Speaker 1: only use three thousand, correct, that's pretty much.

346
00:14:54,360 --> 00:14:55,360
Speaker 3: Not with one last thing.

347
00:14:55,360 --> 00:14:57,720
Speaker 2: Also, like if you're trying to build your score and

348
00:14:57,760 --> 00:14:59,560
Speaker 2: you're in the six fifty, you're lingering around the six

349
00:14:59,600 --> 00:15:01,920
Speaker 2: to fifty range. You shouldn't pay off your card in

350
00:15:01,960 --> 00:15:04,160
Speaker 2: full every month because the bank needs to make the

351
00:15:04,200 --> 00:15:06,320
Speaker 2: bank needs to make a little bit of interest off

352
00:15:06,320 --> 00:15:09,600
Speaker 2: of you to report okay on your credit report history. Correct,

353
00:15:09,680 --> 00:15:11,240
Speaker 2: it's only until you're like a seven to fifty, a

354
00:15:11,360 --> 00:15:13,240
Speaker 2: highest score you can pay your card off in full

355
00:15:13,280 --> 00:15:15,240
Speaker 2: because your score is already built. But if you're in

356
00:15:15,240 --> 00:15:16,680
Speaker 2: the six fifteen, you're trying to raise it.

357
00:15:17,360 --> 00:15:18,080
Speaker 3: Don't pay the card off.

358
00:15:18,320 --> 00:15:20,480
Speaker 1: Can you just explain that, because that's actually the first

359
00:15:20,520 --> 00:15:22,520
Speaker 1: time I'm hearing that in detail.

360
00:15:22,640 --> 00:15:23,880
Speaker 3: Like, so you don't pay.

361
00:15:23,720 --> 00:15:25,760
Speaker 2: Off the credit card on full every month, like every

362
00:15:25,760 --> 00:15:27,760
Speaker 2: other month. You could pay it off in full? Why

363
00:15:27,800 --> 00:15:31,080
Speaker 2: not very well, because the bank wouldn't report okay on

364
00:15:31,160 --> 00:15:33,360
Speaker 2: the credit report. On the slot that says okay, I'll

365
00:15:33,360 --> 00:15:36,640
Speaker 2: say no data. No data is like no credit okay.

366
00:15:36,800 --> 00:15:38,120
Speaker 2: So you have to like trick the system that will

367
00:15:38,120 --> 00:15:39,560
Speaker 2: make a little bit of interest off you. Because remember,

368
00:15:39,560 --> 00:15:42,480
Speaker 2: the bank's in the business making money, right, right, and

369
00:15:42,560 --> 00:15:43,880
Speaker 2: that's why they charge these interest rates.

370
00:15:43,960 --> 00:15:46,200
Speaker 4: So they want to see that your valued customer over

371
00:15:46,240 --> 00:15:48,000
Speaker 4: a period of time exactly, right. So if I have

372
00:15:48,040 --> 00:15:50,520
Speaker 4: a thousand dollars and I maxed out a thousand and

373
00:15:50,560 --> 00:15:52,840
Speaker 4: I pay a thousand. That's not really showing.

374
00:15:52,640 --> 00:15:55,120
Speaker 2: Anything exactly, and that's not helping them. There not making money.

375
00:15:55,400 --> 00:15:57,400
Speaker 2: So there's no sentence for them to report. Okay, on

376
00:15:57,440 --> 00:15:58,760
Speaker 2: the credit bord you have to report to have a

377
00:15:58,840 --> 00:16:02,000
Speaker 2: zero balance. Don't have that, Okay, That green mark on

378
00:16:02,040 --> 00:16:04,640
Speaker 2: your credit board is it is no data, okay, and

379
00:16:04,680 --> 00:16:06,520
Speaker 2: don't The way you see that is actually from the

380
00:16:06,520 --> 00:16:08,720
Speaker 2: credit report from the viewers. You wouldn't see it on

381
00:16:08,720 --> 00:16:11,280
Speaker 2: like a mortgage report or on your ownline reports. When

382
00:16:11,280 --> 00:16:13,120
Speaker 2: you pull the actual report from the viewers is when

383
00:16:13,120 --> 00:16:13,640
Speaker 2: you see.

384
00:16:13,440 --> 00:16:14,880
Speaker 3: That, all right. All right?

385
00:16:14,920 --> 00:16:16,760
Speaker 1: So now all right, so you got some framework and

386
00:16:16,800 --> 00:16:18,840
Speaker 1: then you got some interesting stories to me and Troy.

387
00:16:18,880 --> 00:16:20,320
Speaker 1: But now we're going to we're going to dive deep

388
00:16:20,320 --> 00:16:23,480
Speaker 1: into the the to the world of credit and yeah,

389
00:16:23,480 --> 00:16:26,680
Speaker 1: we're going to hopefully drop some gyms that can save

390
00:16:26,760 --> 00:16:28,280
Speaker 1: you guys a lot of time and money.

391
00:16:28,200 --> 00:16:30,560
Speaker 4: Depends the paths. Get ready, all right, So now we're

392
00:16:30,560 --> 00:16:32,960
Speaker 4: going to get into the part that most people aren't

393
00:16:32,960 --> 00:16:35,480
Speaker 4: aware of on their credit pard that are actually happening.

394
00:16:36,040 --> 00:16:38,000
Speaker 4: But you know, when you make a late payment or

395
00:16:38,040 --> 00:16:40,840
Speaker 4: you miss a payment or you miss a few there's

396
00:16:40,840 --> 00:16:44,760
Speaker 4: something that's called a derogatory that's correct, So god you

397
00:16:44,840 --> 00:16:47,120
Speaker 4: could you want to explain the impact that that has

398
00:16:47,120 --> 00:16:48,000
Speaker 4: and some examples of it.

399
00:16:48,160 --> 00:16:51,600
Speaker 2: Well, the derogatory section. Everyone has that on a credit report, right,

400
00:16:51,680 --> 00:16:53,400
Speaker 2: So what do you make a late payment? And by

401
00:16:53,400 --> 00:16:55,880
Speaker 2: the way, the way they report late payments these days

402
00:16:55,880 --> 00:16:59,040
Speaker 2: have changed because back then right after thirty days the

403
00:16:59,080 --> 00:17:00,600
Speaker 2: next day you were late. Now they give you a

404
00:17:00,600 --> 00:17:02,880
Speaker 2: thirty day grace period. But if the payment is not

405
00:17:02,920 --> 00:17:05,720
Speaker 2: made before five pm the twenty ninth of the next month,

406
00:17:06,160 --> 00:17:09,400
Speaker 2: then you get reported the first thirty days. That's a derogatory, right.

407
00:17:10,240 --> 00:17:12,480
Speaker 2: Collections charge off. Let's say you had a credit card

408
00:17:12,560 --> 00:17:14,879
Speaker 2: for five six years. You know you were paying for

409
00:17:14,920 --> 00:17:17,480
Speaker 2: three four years, you ran into a hardship, you missed,

410
00:17:17,560 --> 00:17:19,119
Speaker 2: you couldn't keep up with the payments anymore, and you

411
00:17:19,200 --> 00:17:21,800
Speaker 2: miss six months of payments. It gets charged off. That's

412
00:17:21,800 --> 00:17:28,840
Speaker 2: a derogatory. Public records lawsuits judgments there as well. Yes, absolutely,

413
00:17:28,880 --> 00:17:32,040
Speaker 2: because if one here's the thing about student know everyone

414
00:17:32,080 --> 00:17:36,640
Speaker 2: keeps deferring the student loans and that's actually you shouldn't

415
00:17:36,680 --> 00:17:38,040
Speaker 2: be doing that. You should at least try to make

416
00:17:38,040 --> 00:17:40,119
Speaker 2: some sort of payment plan with them because now one

417
00:17:40,200 --> 00:17:42,720
Speaker 2: it affects your credit, your DTI because let's see, you

418
00:17:42,720 --> 00:17:45,600
Speaker 2: took out six thousand, you deferred for five years, now

419
00:17:45,600 --> 00:17:48,320
Speaker 2: your loan is ten thousand. Now you're upside down with

420
00:17:48,359 --> 00:17:51,960
Speaker 2: the loan. One Two you lay payments. Also, their report

421
00:17:52,040 --> 00:17:55,320
Speaker 2: on the credit port is the derogatory if you miss

422
00:17:55,359 --> 00:17:58,800
Speaker 2: the laate payment. So I don't suggest anyone try to

423
00:17:58,840 --> 00:18:02,000
Speaker 2: put the payment in defirming for too long, but if

424
00:18:02,040 --> 00:18:04,720
Speaker 2: you have to make sure you don't have a gap

425
00:18:04,720 --> 00:18:06,480
Speaker 2: where it comes out of the ferment and you're supposed

426
00:18:06,480 --> 00:18:08,040
Speaker 2: to make a payment and go back into the ferment

427
00:18:08,480 --> 00:18:09,240
Speaker 2: heed to avoid that.

428
00:18:09,680 --> 00:18:12,119
Speaker 4: It's tough because I mean we covered it pretty extensively,

429
00:18:12,200 --> 00:18:17,480
Speaker 4: Like we have millions of Americans that are in trillion

430
00:18:17,480 --> 00:18:20,640
Speaker 4: dollar industry, and it's like, you know, the first thing

431
00:18:20,720 --> 00:18:23,800
Speaker 4: is like deferment, but it only lasts six to twelve months, right,

432
00:18:23,800 --> 00:18:25,760
Speaker 4: and that that can affect you long term, right when

433
00:18:25,760 --> 00:18:27,679
Speaker 4: it's time for you to now get the home, like

434
00:18:28,119 --> 00:18:30,640
Speaker 4: still a loan payment as affected you try to get

435
00:18:30,640 --> 00:18:32,399
Speaker 4: the car student, right, they're going to see that on

436
00:18:32,560 --> 00:18:33,680
Speaker 4: that derogatory.

437
00:18:33,200 --> 00:18:35,600
Speaker 2: Because they calculate the monthly payment into your income. Right,

438
00:18:35,720 --> 00:18:38,040
Speaker 2: So Let's say, you know, you only make I don't know,

439
00:18:38,080 --> 00:18:41,840
Speaker 2: two thousand dollars a month or bi weekly whatever, and

440
00:18:41,920 --> 00:18:44,320
Speaker 2: your monthly payments are all your expense, including rent, food

441
00:18:44,400 --> 00:18:48,080
Speaker 2: whatever not that foods are rent bills, credit cards, it

442
00:18:48,119 --> 00:18:51,000
Speaker 2: is fifteen hundred. Now you add your student loans in there.

443
00:18:51,359 --> 00:18:53,320
Speaker 2: Now you only have two hundred dollars left. How are

444
00:18:53,320 --> 00:18:55,560
Speaker 2: you going to get get more? Extra are gonna come in?

445
00:18:55,600 --> 00:18:55,720
Speaker 4: You know?

446
00:18:55,920 --> 00:18:58,520
Speaker 2: So it's a debt that you really don't want to

447
00:18:58,560 --> 00:19:00,760
Speaker 2: carry with you, but we have to if you want

448
00:19:00,800 --> 00:19:02,720
Speaker 2: to try at least make some kind of payment towards it.

449
00:19:02,920 --> 00:19:04,160
Speaker 3: So what do the derogatories?

450
00:19:05,359 --> 00:19:09,440
Speaker 1: Okay, so some of the common derogatory items are late payments.

451
00:19:09,119 --> 00:19:12,120
Speaker 2: Late payments, credit cards. Even I did a video about

452
00:19:12,160 --> 00:19:14,280
Speaker 2: when you move out of your apartment, how to exit

453
00:19:14,320 --> 00:19:17,920
Speaker 2: your apartment. Your Verizon bill, your contact is some bill,

454
00:19:18,080 --> 00:19:19,880
Speaker 2: all that goes on your credit repoard. There's a way

455
00:19:19,880 --> 00:19:21,600
Speaker 2: to shut everything off before you walk out of that

456
00:19:21,600 --> 00:19:24,159
Speaker 2: apartment so it doesn't travel. So what's the way that

457
00:19:24,200 --> 00:19:26,600
Speaker 2: you So basically, make a checklist of everything that you

458
00:19:26,880 --> 00:19:29,399
Speaker 2: had when you were living in an apartment cable, phone,

459
00:19:29,480 --> 00:19:30,200
Speaker 2: water or whatever.

460
00:19:30,680 --> 00:19:31,639
Speaker 3: A week before you move out.

461
00:19:31,640 --> 00:19:33,199
Speaker 2: You're supposed to call those companies and let them know

462
00:19:33,200 --> 00:19:36,399
Speaker 2: you're leaving, to disconnect the service on this date and

463
00:19:36,480 --> 00:19:37,160
Speaker 2: send you the bill.

464
00:19:37,840 --> 00:19:38,000
Speaker 3: Right.

465
00:19:38,040 --> 00:19:39,600
Speaker 2: A lot of people just walk out and leave everything

466
00:19:40,119 --> 00:19:43,119
Speaker 2: the Verizon bill, cable bill. You're supposed to return those boxes.

467
00:19:43,280 --> 00:19:45,240
Speaker 2: If you don't, you get targe. You're renting those boxes,

468
00:19:45,240 --> 00:19:46,960
Speaker 2: you don't own them. That's a stupid way of having

469
00:19:47,000 --> 00:19:49,760
Speaker 2: a debt on your credit board. Domest your credit bill. Right,

470
00:19:49,800 --> 00:19:51,840
Speaker 2: you can just return the boxes, play the final.

471
00:19:51,640 --> 00:19:53,919
Speaker 1: Bill, right, Yeah, for sure. So all right, so what

472
00:19:53,960 --> 00:19:57,760
Speaker 1: do support serving? Yeah, we get what about taxling?

473
00:19:58,200 --> 00:20:01,480
Speaker 2: So taxling shows up on your credit but it was

474
00:20:01,560 --> 00:20:03,520
Speaker 2: up to two years ago. They stopped reporting it, but

475
00:20:03,560 --> 00:20:05,919
Speaker 2: it stays in the public record. So let's say applying

476
00:20:05,960 --> 00:20:08,479
Speaker 2: for a mortgage, when they pull for your mortgage report,

477
00:20:08,480 --> 00:20:10,920
Speaker 2: they put a Lexus nexus. Your taxi show up there,

478
00:20:11,200 --> 00:20:13,840
Speaker 2: so you can affect it from getting the mortgage. But

479
00:20:13,840 --> 00:20:15,680
Speaker 2: it's not in your credit report anymore, but it stays

480
00:20:15,680 --> 00:20:18,600
Speaker 2: in public records. Successes lesus next is a company out

481
00:20:18,600 --> 00:20:21,320
Speaker 2: in Atlanta that carries all public record data for everyone.

482
00:20:21,560 --> 00:20:23,119
Speaker 4: Okay, okay, for.

483
00:20:23,119 --> 00:20:24,959
Speaker 2: All the court system, bankruptcies, everything.

484
00:20:25,160 --> 00:20:27,240
Speaker 3: So what about credit card judgments? A lot of people

485
00:20:27,320 --> 00:20:28,440
Speaker 3: have credit card judgments.

486
00:20:28,640 --> 00:20:31,560
Speaker 2: Oh man, listen, that's a good topic and how that happens.

487
00:20:32,800 --> 00:20:35,440
Speaker 2: You know, Let's say you have a credit card. I

488
00:20:35,520 --> 00:20:37,120
Speaker 2: go back to Chase because I did with them every day.

489
00:20:37,160 --> 00:20:37,280
Speaker 4: Right.

490
00:20:37,600 --> 00:20:39,960
Speaker 2: Let's say you have to Chase credit card for five years,

491
00:20:40,320 --> 00:20:42,879
Speaker 2: three years, you paid it. After that you went to

492
00:20:42,880 --> 00:20:45,000
Speaker 2: a harship. We can't paid no more and they went

493
00:20:45,040 --> 00:20:48,680
Speaker 2: to collections and you didn't even pay it then, right

494
00:20:48,720 --> 00:20:50,919
Speaker 2: before the statue limitation comes in, and every debt has

495
00:20:50,960 --> 00:20:54,239
Speaker 2: a statue mentation, every state has a statue limitation. Right

496
00:20:54,280 --> 00:20:57,080
Speaker 2: before the statue limentation ends, it goes to an attorney.

497
00:20:57,200 --> 00:20:59,760
Speaker 2: They pick it up and obtaining a defaul judgment against

498
00:20:59,760 --> 00:21:01,040
Speaker 2: you for ten years.

499
00:21:01,480 --> 00:21:04,000
Speaker 1: So ten years, ten years, but it can be it

500
00:21:04,040 --> 00:21:05,919
Speaker 1: can be wiped off all right, even if you so

501
00:21:06,000 --> 00:21:07,920
Speaker 1: if you have the ten year judgment, it can still

502
00:21:07,960 --> 00:21:10,320
Speaker 1: be like wiped off before that ten years.

503
00:21:10,000 --> 00:21:12,200
Speaker 2: Absolutely if it's resolved correct if you don't. If you

504
00:21:12,200 --> 00:21:14,199
Speaker 2: don't resolve it, then it can winue again. How do

505
00:21:14,200 --> 00:21:16,320
Speaker 2: you resolve it? So you got to make an agreement

506
00:21:16,320 --> 00:21:18,720
Speaker 2: with the judge, but not with the judgement attorney assume

507
00:21:18,800 --> 00:21:20,439
Speaker 2: you they could either go back at the court and

508
00:21:20,440 --> 00:21:22,280
Speaker 2: resolve it or resolve it over the phone. Make an

509
00:21:22,280 --> 00:21:25,280
Speaker 2: agreements that listen to that's five thousand. You know I

510
00:21:25,280 --> 00:21:27,479
Speaker 2: can give you two thousand call of the day, all right,

511
00:21:27,520 --> 00:21:30,080
Speaker 2: so the death has to be resolved. Resolved.

512
00:21:30,080 --> 00:21:32,800
Speaker 1: That that made me think about something because we let

513
00:21:32,800 --> 00:21:33,680
Speaker 1: me keep it on the show.

514
00:21:33,760 --> 00:21:33,960
Speaker 4: Right.

515
00:21:34,200 --> 00:21:37,040
Speaker 1: So usually in our community, what happens is that you

516
00:21:37,160 --> 00:21:39,159
Speaker 1: fall on the hard times, you don't pay your bills.

517
00:21:39,359 --> 00:21:41,719
Speaker 3: They call you, and you don't answer the phone call.

518
00:21:42,080 --> 00:21:44,600
Speaker 4: You try to ignore that number.

519
00:21:44,680 --> 00:21:46,400
Speaker 3: But that's what that's that's what we're gonna do. That's

520
00:21:46,400 --> 00:21:49,520
Speaker 3: what that's how it do a judgment. So start of it,

521
00:21:49,560 --> 00:21:49,840
Speaker 3: all right.

522
00:21:49,840 --> 00:21:52,080
Speaker 1: What's your advice for people that are doing that? Like

523
00:21:52,560 --> 00:21:55,679
Speaker 1: I always tell people, you can't avoid problems. You have

524
00:21:55,800 --> 00:21:58,399
Speaker 1: to face it right, So and then especially credit card companies,

525
00:21:58,400 --> 00:22:01,800
Speaker 1: they'll work with you if you conte people still mentally,

526
00:22:01,880 --> 00:22:05,159
Speaker 1: I guess it's just nobody really wants to be embarrassed

527
00:22:05,280 --> 00:22:07,000
Speaker 1: or they don't want to even kind of go through

528
00:22:07,000 --> 00:22:08,200
Speaker 1: that if they know that they don't have the money

529
00:22:08,240 --> 00:22:11,000
Speaker 1: to pay it. So you have all right, you got

530
00:22:11,000 --> 00:22:13,440
Speaker 1: yourself in a bad situation. You can't pay your bill,

531
00:22:13,480 --> 00:22:15,920
Speaker 1: you're laid on your bills. What do you do? Like,

532
00:22:16,000 --> 00:22:16,440
Speaker 1: what's the best?

533
00:22:16,600 --> 00:22:20,199
Speaker 2: Here's the thing that's funny we're talking about this. A

534
00:22:20,240 --> 00:22:22,040
Speaker 2: lot of people don't want to resolve to that because

535
00:22:22,040 --> 00:22:23,640
Speaker 2: they've been totally You don't have to pay it that back.

536
00:22:23,800 --> 00:22:26,320
Speaker 2: It's going to disappear a lot of people. That's what

537
00:22:26,359 --> 00:22:27,800
Speaker 2: a lot of people say. You know, oh, my friends,

538
00:22:27,800 --> 00:22:28,639
Speaker 2: I don't want to pay it back.

539
00:22:28,760 --> 00:22:29,160
Speaker 3: Is the truth.

540
00:22:29,520 --> 00:22:33,400
Speaker 2: Yes, you have to, right, but you have to answer

541
00:22:33,480 --> 00:22:35,520
Speaker 2: the phone man like you can't. They'll work with you.

542
00:22:35,560 --> 00:22:36,439
Speaker 2: They wanted to work at you.

543
00:22:36,560 --> 00:22:39,439
Speaker 4: This is I'm just the willing to work with your

544
00:22:39,480 --> 00:22:42,240
Speaker 4: part is one hundred percent valid. I have friends, and

545
00:22:42,520 --> 00:22:45,040
Speaker 4: I mean personally, I've done it myself, like I've had

546
00:22:45,080 --> 00:22:46,760
Speaker 4: I've seen my interest rate go up when I was

547
00:22:46,760 --> 00:22:48,720
Speaker 4: in college to a point I was like, wait, oh,

548
00:22:48,760 --> 00:22:51,320
Speaker 4: thirty thousand dollars. I'm twenty one, right, and I'm like,

549
00:22:51,880 --> 00:22:53,840
Speaker 4: I don't know what to do. So I'm like I

550
00:22:53,960 --> 00:22:55,320
Speaker 4: literally was listening to how I need to have it and

551
00:22:55,359 --> 00:22:58,080
Speaker 4: I promise you, and I heard Andree was talking about

552
00:22:58,160 --> 00:23:01,159
Speaker 4: dec consolidation and I called this and I was like,

553
00:23:01,200 --> 00:23:03,240
Speaker 4: all right, well we'll do it. And I did it,

554
00:23:03,320 --> 00:23:07,000
Speaker 4: and like rather than paying at thirty right, the bankers

555
00:23:07,040 --> 00:23:09,359
Speaker 4: looking like, hey, can we get some money? Right, So

556
00:23:09,400 --> 00:23:11,399
Speaker 4: I'm like, all right, we agreed to amount, and I'm like,

557
00:23:11,400 --> 00:23:12,359
Speaker 4: all right, I'll pay that off.

558
00:23:12,880 --> 00:23:16,280
Speaker 2: There's a difference between that consolidation debt settlement. I am

559
00:23:16,280 --> 00:23:18,320
Speaker 2: not a deck into deck consolid I don't think anyone

560
00:23:18,320 --> 00:23:20,679
Speaker 2: should do it. And I'll tell you why. Once the

561
00:23:20,720 --> 00:23:23,840
Speaker 2: debts charged off, you have to pay something, but not

562
00:23:23,880 --> 00:23:26,760
Speaker 2: the full thing. But consumers don't know that, so they

563
00:23:26,800 --> 00:23:28,520
Speaker 2: go to de consolidating way. They make you paid the

564
00:23:28,520 --> 00:23:31,120
Speaker 2: whole debt over three years. You kind of just paid

565
00:23:31,119 --> 00:23:34,240
Speaker 2: it debt twice, Yeah, because it went insurance paid it

566
00:23:34,320 --> 00:23:36,200
Speaker 2: or wherever the bank resolved it, and that you paid

567
00:23:36,200 --> 00:23:40,720
Speaker 2: the whole thing back again to the banks. It's once

568
00:23:40,760 --> 00:23:43,520
Speaker 2: the debts charged off, it's better to settle to then

569
00:23:43,640 --> 00:23:45,920
Speaker 2: move on. You're five grand, we get that down to

570
00:23:46,000 --> 00:23:48,840
Speaker 2: eighteen hundred. I would rather pay that and move on

571
00:23:49,000 --> 00:23:51,280
Speaker 2: because your credit is still shot and you're not going

572
00:23:51,359 --> 00:23:52,040
Speaker 2: to get the card back.

573
00:23:53,320 --> 00:23:54,600
Speaker 3: Right, So I haven't paid twice.

574
00:23:55,680 --> 00:23:57,600
Speaker 4: Yeah, I've seen people do it, like I've seen like

575
00:23:57,800 --> 00:24:00,440
Speaker 4: like you just said, like, hey I owe twenty listen,

576
00:24:00,520 --> 00:24:02,560
Speaker 4: I have ten, right, and the bank is like, you

577
00:24:02,600 --> 00:24:04,800
Speaker 4: know what, I'll take that ten rather than have nothing

578
00:24:04,800 --> 00:24:05,920
Speaker 4: from you for the next five years.

579
00:24:05,960 --> 00:24:11,440
Speaker 2: So here's a trick behind Rushot's talking about collection agencies

580
00:24:11,480 --> 00:24:14,359
Speaker 2: and attorneys do skip traits. Well, the skip trace is

581
00:24:14,359 --> 00:24:16,560
Speaker 2: where they pull your credit and they see that if

582
00:24:16,600 --> 00:24:19,680
Speaker 2: you're paying like, what's it called skip trace, skip trades,

583
00:24:19,880 --> 00:24:23,359
Speaker 2: skip t R a CE so skip trait, skip trace

584
00:24:23,400 --> 00:24:26,119
Speaker 2: worse like this, they want to find you when you

585
00:24:26,160 --> 00:24:28,200
Speaker 2: see where you are to serve your judgment, they pull

586
00:24:28,240 --> 00:24:30,160
Speaker 2: your credit, they see you have this address, that address,

587
00:24:30,160 --> 00:24:32,399
Speaker 2: that address. That's how the martials end up coming to

588
00:24:32,480 --> 00:24:34,679
Speaker 2: your house and dropping a note off, right, So they

589
00:24:34,720 --> 00:24:37,160
Speaker 2: see if you're paying any debts back. So now let's

590
00:24:37,200 --> 00:24:41,119
Speaker 2: say you're completely shot your scores five hundred. You have

591
00:24:41,160 --> 00:24:43,280
Speaker 2: every single debt out there. When they do that skip trace,

592
00:24:43,359 --> 00:24:46,560
Speaker 2: they know you're completely bro or you seem to be bro.

593
00:24:47,480 --> 00:24:49,080
Speaker 2: You have a better chance of getting a lower number

594
00:24:49,080 --> 00:24:52,600
Speaker 2: in that settlement because they'll take anything you want to

595
00:24:52,640 --> 00:24:55,359
Speaker 2: resolve it and keep it going. Right, if you apply

596
00:24:55,400 --> 00:24:57,600
Speaker 2: for Warrior this year, increy on there from a home

597
00:24:57,800 --> 00:25:00,280
Speaker 2: mortgage company, or you're trying to buy something, you have money,

598
00:25:00,280 --> 00:25:02,720
Speaker 2: everybody pops up. They want to settle, but they'll sell

599
00:25:02,760 --> 00:25:06,359
Speaker 2: at a high number, and collection agencies work on commission.

600
00:25:06,800 --> 00:25:08,679
Speaker 2: End of the month you get the best number. Beginner

601
00:25:08,680 --> 00:25:09,560
Speaker 2: of the month you don't.

602
00:25:11,040 --> 00:25:13,200
Speaker 1: That's so end of the month, Okay, I don't want

603
00:25:13,200 --> 00:25:15,920
Speaker 1: people to I'll let that go over your head explain that.

604
00:25:16,440 --> 00:25:21,120
Speaker 2: Oh yeah, collection agency is working commission. It's a fifty job.

605
00:25:21,480 --> 00:25:23,520
Speaker 2: But your job is to you have to hit certain numbers.

606
00:25:23,560 --> 00:25:25,320
Speaker 2: At the end of the month, you have to hit

607
00:25:25,359 --> 00:25:27,199
Speaker 2: let's say a budget is thirty thousand. After that you

608
00:25:27,200 --> 00:25:29,520
Speaker 2: get commissioned. So that's why in the beginning of the month,

609
00:25:29,600 --> 00:25:31,719
Speaker 2: let's see, had a death for five thousand, they'll say, oh,

610
00:25:31,720 --> 00:25:33,840
Speaker 2: we can only settle for forty five hundred four thousand.

611
00:25:34,400 --> 00:25:36,040
Speaker 2: Come that to the last five days of a month,

612
00:25:36,280 --> 00:25:40,800
Speaker 2: that same debth for eighteen hundred dollars. But you can't

613
00:25:40,800 --> 00:25:44,280
Speaker 2: get off your credit report because the loss states whether

614
00:25:44,320 --> 00:25:46,119
Speaker 2: you pay or don't pay something, it stays on your

615
00:25:46,119 --> 00:25:49,119
Speaker 2: credit port for seven years. That's where my company comes in.

616
00:25:49,200 --> 00:25:53,840
Speaker 2: I make your seven years ninety days, so I'm able

617
00:25:53,840 --> 00:25:56,040
Speaker 2: to make your credit jump right back to seven fifty

618
00:25:56,080 --> 00:26:02,119
Speaker 2: eight hundred Squeakly, nothing ever, comes back on your credit report.

619
00:26:02,480 --> 00:26:09,120
Speaker 3: Credit repair. Oh yes, that it's a lot off camp.

620
00:26:09,160 --> 00:26:11,960
Speaker 3: You said, there's no such thing. It's the credit credit.

621
00:26:12,200 --> 00:26:15,520
Speaker 2: Exist right, It's a skin, right, That's why every single

622
00:26:15,520 --> 00:26:17,960
Speaker 2: company can I call the companies out? You don't care, No,

623
00:26:18,080 --> 00:26:22,280
Speaker 2: I mean that's your mom and pop company, Lexington Lord

624
00:26:22,280 --> 00:26:26,199
Speaker 2: credit payer dot com credits saying I want to spe name,

625
00:26:26,280 --> 00:26:27,120
Speaker 2: I want two Okay.

626
00:26:28,800 --> 00:26:31,040
Speaker 5: This episode is brought to you by P and C Bank.

627
00:26:31,440 --> 00:26:34,200
Speaker 5: A lot of people think podcasts about work are boring,

628
00:26:34,440 --> 00:26:38,280
Speaker 5: and sure, they definitely can be, but understanding of professional's

629
00:26:38,359 --> 00:26:41,600
Speaker 5: routine shows us how they achieve their success little by little,

630
00:26:42,000 --> 00:26:45,640
Speaker 5: day after day. It's like banking with P and C Bank.

631
00:26:46,119 --> 00:26:48,919
Speaker 5: It might seem boring to save, plan and make calculated

632
00:26:48,920 --> 00:26:52,040
Speaker 5: decisions with your bank, but keeping your money boring is

633
00:26:52,040 --> 00:26:55,399
Speaker 5: what helps you live or more happily fulfilled life. P

634
00:26:55,480 --> 00:27:00,680
Speaker 5: and C Bank Brilliantly Boring since eighteen sixty five. Boring

635
00:27:00,720 --> 00:27:03,159
Speaker 5: since eighteen sixty five is a service mark of the

636
00:27:03,200 --> 00:27:07,040
Speaker 5: PNC Financial Service Group, Inc. P and C Bank National

637
00:27:07,119 --> 00:27:09,440
Speaker 5: Association Member FDIIC.

638
00:27:11,960 --> 00:27:12,280
Speaker 4: Earners.

639
00:27:12,320 --> 00:27:12,679
Speaker 3: What's up?

640
00:27:12,800 --> 00:27:15,240
Speaker 5: You ever walk into a small business and everything just

641
00:27:15,400 --> 00:27:18,600
Speaker 5: works like the checkout is fast, the receipts are digital,

642
00:27:19,119 --> 00:27:22,080
Speaker 5: tipping is a breeze and you're out the door before

643
00:27:22,119 --> 00:27:26,240
Speaker 5: the line even builds. Odds are they're using Square. We

644
00:27:26,400 --> 00:27:28,960
Speaker 5: love supporting businesses that run on Square because it just

645
00:27:29,000 --> 00:27:32,240
Speaker 5: feels seamless. Whether it's a local coffee shop, a vendor

646
00:27:32,280 --> 00:27:34,520
Speaker 5: at a pop up market, or even one of our

647
00:27:34,600 --> 00:27:38,240
Speaker 5: merch partners, Square makes it easy for them to take payments,

648
00:27:38,480 --> 00:27:42,200
Speaker 5: manage inventory, and run their business with confidence, all from

649
00:27:42,280 --> 00:27:45,680
Speaker 5: one simple system. If you're a business owner or even

650
00:27:45,800 --> 00:27:49,280
Speaker 5: just thinking about launching something soon, Square is hands down

651
00:27:49,320 --> 00:27:52,399
Speaker 5: one of the best tools out there to help you start, run,

652
00:27:52,600 --> 00:27:55,920
Speaker 5: and grow. It's not just about payments, it's about giving

653
00:27:55,960 --> 00:27:58,600
Speaker 5: you time back so you can focus on what matters

654
00:27:58,640 --> 00:28:01,920
Speaker 5: most ready. To see how Square can transform your business,

655
00:28:02,160 --> 00:28:06,800
Speaker 5: visit Square dot com backslash, go backslash eyl to learn

656
00:28:06,840 --> 00:28:12,040
Speaker 5: more that Square dot com backslash, go backslash eyl. Don't wait,

657
00:28:12,359 --> 00:28:15,159
Speaker 5: don't hesitate. Let's Square handle the back end so you

658
00:28:15,200 --> 00:28:16,840
Speaker 5: can keep pushing your vision forward.

659
00:28:19,480 --> 00:28:23,359
Speaker 6: You just realized your business needed to hire someone yesterday?

660
00:28:23,880 --> 00:28:28,600
Speaker 6: How can you find amazing candidates fast? Easy? Just use Indeed.

661
00:28:29,040 --> 00:28:31,760
Speaker 6: Stop struggling to get your job posts seen on other

662
00:28:31,880 --> 00:28:35,560
Speaker 6: job sites with Indeed sponsored jobs, your post jumps to

663
00:28:35,600 --> 00:28:38,080
Speaker 6: the top of the page for your relevant candidates, so

664
00:28:38,200 --> 00:28:41,200
Speaker 6: you can reach the people you want faster. According to

665
00:28:41,240 --> 00:28:45,200
Speaker 6: Indeed data, sponsored jobs posted directly on Indeed have forty

666
00:28:45,240 --> 00:28:49,120
Speaker 6: five percent more applications than non sponsored jobs. Don't wait

667
00:28:49,160 --> 00:28:52,600
Speaker 6: any longer. Speed up your hiring right now with Indeed,

668
00:28:53,040 --> 00:28:55,280
Speaker 6: and listeners of this show will get a seventy five

669
00:28:55,360 --> 00:28:58,520
Speaker 6: dollars sponsored job credit to get your jobs more visibility

670
00:28:58,680 --> 00:29:04,400
Speaker 6: at indeed dot com slash pod Katz thirteen. Just go

671
00:29:04,440 --> 00:29:09,240
Speaker 6: to Indeed dot com slash pod katz thirteen right now

672
00:29:09,560 --> 00:29:12,120
Speaker 6: and support our show by saying you heard about Indeed

673
00:29:12,160 --> 00:29:16,479
Speaker 6: on this podcast. Terms and conditions apply. Hiring Indeed is

674
00:29:16,520 --> 00:29:17,240
Speaker 6: all you need.

675
00:29:18,760 --> 00:29:23,040
Speaker 2: They all do the same thing. Send dispute letters with

676
00:29:23,120 --> 00:29:25,360
Speaker 2: no letterhead. So yeah, I think about that. If I'm

677
00:29:25,360 --> 00:29:26,960
Speaker 2: paying you ninety nine dollars, you said I'm gonna fix

678
00:29:27,000 --> 00:29:29,920
Speaker 2: your credit, Why is only the instructions on letterhead but

679
00:29:29,960 --> 00:29:32,080
Speaker 2: not the level you sent to the credit beer on letterhead?

680
00:29:32,120 --> 00:29:34,640
Speaker 2: Look like I'm sending the letter one two. If you

681
00:29:34,640 --> 00:29:37,719
Speaker 2: ever read those dispute letters, it's like your ten year

682
00:29:37,720 --> 00:29:38,560
Speaker 2: old kid wrote it.

683
00:29:39,920 --> 00:29:40,280
Speaker 3: Right.

684
00:29:40,360 --> 00:29:45,040
Speaker 2: So, for example, let's say Verizon, you have a Verizon bill,

685
00:29:45,200 --> 00:29:47,720
Speaker 2: you have Verizon home service, cable internet, whatever it is

686
00:29:47,760 --> 00:29:49,400
Speaker 2: that you have a Verizon right for over a year.

687
00:29:50,120 --> 00:29:52,000
Speaker 2: All of a sudden you moved out. You didn't pay

688
00:29:52,000 --> 00:29:54,160
Speaker 2: the bill because you didn't return the box on the

689
00:29:54,160 --> 00:29:57,040
Speaker 2: final bills, and you have this on your credit report.

690
00:29:57,120 --> 00:29:59,560
Speaker 2: Verizon have a collection for you. They're gonna write a letter,

691
00:29:59,680 --> 00:30:02,719
Speaker 2: please validate this debt. I never had this debt. Well

692
00:30:02,720 --> 00:30:04,640
Speaker 2: what do you have for the last twelve months? So

693
00:30:04,760 --> 00:30:08,000
Speaker 2: everything has a pay per trail behind it, right, So

694
00:30:08,120 --> 00:30:09,760
Speaker 2: that's what a level never works. Not a letter goes

695
00:30:09,760 --> 00:30:11,920
Speaker 2: to the credit virrs. The credit viewer sends it to

696
00:30:11,960 --> 00:30:14,920
Speaker 2: the Verizon rising sends back your whole statement in the

697
00:30:14,960 --> 00:30:18,320
Speaker 2: digital file, your checks that you made paymentswater. They even

698
00:30:18,640 --> 00:30:21,120
Speaker 2: keep phone communication if you spoke to them. You spoke

699
00:30:21,120 --> 00:30:23,640
Speaker 2: to us on this day, and that's all testifiable. I

700
00:30:23,680 --> 00:30:25,880
Speaker 2: have it in my office when you speak to these companies, Oh,

701
00:30:25,880 --> 00:30:27,240
Speaker 2: my client spoke to them on this day.

702
00:30:28,240 --> 00:30:28,400
Speaker 3: Right.

703
00:30:28,440 --> 00:30:30,880
Speaker 2: So anyway back to the whole credit periods. The letters

704
00:30:30,920 --> 00:30:32,840
Speaker 2: thing doesn't work because if he has a pay per

705
00:30:32,840 --> 00:30:36,160
Speaker 2: trail one, there's no such thing as fixing credit. Every

706
00:30:36,160 --> 00:30:38,400
Speaker 2: consumer has a right to dispute something on their credit

707
00:30:38,440 --> 00:30:43,040
Speaker 2: if they believe it was reported erroneously or inaccurately, that's

708
00:30:43,080 --> 00:30:43,520
Speaker 2: you're right.

709
00:30:43,640 --> 00:30:46,160
Speaker 1: So from my understanding, it's like correct me if I'm wrong,

710
00:30:47,400 --> 00:30:50,080
Speaker 1: they write a letter or you. Everybody has the ability

711
00:30:50,120 --> 00:30:52,400
Speaker 1: to write a letter to a company disputing something. If

712
00:30:52,440 --> 00:30:54,600
Speaker 1: they don't respond to that dispute, it has to come

713
00:30:54,680 --> 00:30:57,480
Speaker 1: up right. So that's kind of what they do because

714
00:30:57,480 --> 00:30:59,200
Speaker 1: they know most people are They don't want to do

715
00:30:59,240 --> 00:31:01,360
Speaker 1: it themselves, so they do it.

716
00:31:01,280 --> 00:31:02,000
Speaker 3: For them correct.

717
00:31:02,000 --> 00:31:03,800
Speaker 2: And the reason and the other thing is that in

718
00:31:03,840 --> 00:31:06,800
Speaker 2: the industry there's something called servicing a debt and owning

719
00:31:06,840 --> 00:31:08,920
Speaker 2: a debt. Let me explain that for you. I'll say

720
00:31:08,920 --> 00:31:11,640
Speaker 2: it again, servicing a debt and owning a debt, owning

721
00:31:11,640 --> 00:31:13,720
Speaker 2: a debt. There's only four companies in the industry that

722
00:31:13,800 --> 00:31:19,920
Speaker 2: buys debts Portfolio Recovery, Midland Funding, MCM, and Calvy Portfolio.

723
00:31:20,160 --> 00:31:22,880
Speaker 2: Those four companies buy debts and they give you thirty

724
00:31:22,960 --> 00:31:24,960
Speaker 2: days to resolve it. If you don't resolve it, they

725
00:31:24,960 --> 00:31:27,440
Speaker 2: get a default judgment against you, send it to an attorney.

726
00:31:27,480 --> 00:31:29,120
Speaker 2: The attorney serves you got to show up in court.

727
00:31:29,160 --> 00:31:31,720
Speaker 3: Blah blah blah. I shouldn't say blah blah.

728
00:31:32,360 --> 00:31:35,080
Speaker 2: But the second thing is servicing a debt. So let's

729
00:31:35,080 --> 00:31:38,080
Speaker 2: say Verizon come back to Verrison. RGM Acquisition is a

730
00:31:38,080 --> 00:31:41,240
Speaker 2: collection agency. They don't own the debt. Verizon sent the

731
00:31:41,280 --> 00:31:43,040
Speaker 2: debt to RGM to for them to call you ten

732
00:31:43,080 --> 00:31:44,920
Speaker 2: times a day. They don't have the man power to

733
00:31:45,000 --> 00:31:47,320
Speaker 2: do that. So now when you send these letters, the

734
00:31:47,360 --> 00:31:49,680
Speaker 2: collection agency is never supposed to be there. That's why

735
00:31:49,720 --> 00:31:51,680
Speaker 2: the collection acy will come off your credit that's all

736
00:31:51,680 --> 00:31:54,880
Speaker 2: the letter does. But the debt comes back around ninety

737
00:31:54,960 --> 00:31:57,720
Speaker 2: days later from to another agency, so the debt is

738
00:31:57,760 --> 00:32:01,160
Speaker 2: never really leaving you, so that everything has to be resolved.

739
00:32:01,400 --> 00:32:01,960
Speaker 3: So back to the.

740
00:32:01,960 --> 00:32:04,240
Speaker 2: Word of credit a peer, Yeah, it doesn't exist anyone.

741
00:32:04,280 --> 00:32:06,880
Speaker 2: Everyone has a right to contest something if it's not

742
00:32:07,040 --> 00:32:10,200
Speaker 2: accurate on your credit board, but not out of ten

743
00:32:10,240 --> 00:32:14,080
Speaker 2: times all these banks and they're so squeaky clean with

744
00:32:14,120 --> 00:32:16,920
Speaker 2: their data now, like it's very minimum room for errors.

745
00:32:18,040 --> 00:32:21,280
Speaker 4: That's important. Man. You gotta educate yourself, right, Like, rather

746
00:32:21,320 --> 00:32:24,560
Speaker 4: than paying ninety nine dollars, you can do it yourself,

747
00:32:24,560 --> 00:32:27,440
Speaker 4: reading for about two hours a day and figure it out. Man,

748
00:32:27,680 --> 00:32:30,120
Speaker 4: it's valuable. So like you're saving your time and your.

749
00:32:30,040 --> 00:32:31,560
Speaker 3: Money, not supporting.

750
00:32:31,840 --> 00:32:34,160
Speaker 1: All right, Okay, so now we're going to go into

751
00:32:34,880 --> 00:32:36,440
Speaker 1: our new topic, our new section.

752
00:32:37,240 --> 00:32:40,080
Speaker 4: We got a whole new segment that we're calling it

753
00:32:40,280 --> 00:32:43,000
Speaker 4: ten to ten. So we got ten questions. Hopefully you

754
00:32:43,000 --> 00:32:46,520
Speaker 4: can't give us ten answers. And it's courtesy of Instagram

755
00:32:46,800 --> 00:32:49,400
Speaker 4: pretty much our followers. We laid it out there that

756
00:32:49,400 --> 00:32:52,320
Speaker 4: we're going to have credit as an episode and we

757
00:32:52,440 --> 00:32:53,760
Speaker 4: got a crazy response.

758
00:32:55,880 --> 00:32:57,920
Speaker 2: Yeah, there's so much to learn about this credit industry,

759
00:32:57,960 --> 00:33:00,200
Speaker 2: how it works, like how credit is built, how you

760
00:33:00,200 --> 00:33:04,480
Speaker 2: get approved for credit card, Like there's a whole knowledge

761
00:33:04,480 --> 00:33:06,760
Speaker 2: based on that we're just touching like this.

762
00:33:07,320 --> 00:33:10,160
Speaker 4: Yeah, so we took we took ten and hopefully we

763
00:33:10,200 --> 00:33:11,000
Speaker 4: can get ten answers.

764
00:33:11,480 --> 00:33:11,680
Speaker 3: Question.

765
00:33:11,760 --> 00:33:13,800
Speaker 1: We're gonna we're gonna yeah, we're gonna jump right into it.

766
00:33:13,880 --> 00:33:18,080
Speaker 1: So yeah, let's do it, all right. So, yes, this

767
00:33:18,200 --> 00:33:21,719
Speaker 1: is a new segment that we're gonna do. Hopefully we'll

768
00:33:21,720 --> 00:33:24,160
Speaker 1: do what every show, maybe not every show, but depending

769
00:33:24,200 --> 00:33:25,959
Speaker 1: on if it's an educational show like it is right

770
00:33:25,960 --> 00:33:28,760
Speaker 1: now where we're actually bringing somebody in, every show's educational show.

771
00:33:28,800 --> 00:33:30,560
Speaker 1: But if this is a show where we're bringing an

772
00:33:30,560 --> 00:33:33,360
Speaker 1: expert in, we're gonna start a new segment called ten

773
00:33:33,400 --> 00:33:35,920
Speaker 1: for ten, right, because as I always say, it's not

774
00:33:35,960 --> 00:33:38,920
Speaker 1: our podcast, it's your podcast. It's the public's podcast, and

775
00:33:39,320 --> 00:33:42,959
Speaker 1: the platform is to educate. So we're taking ten questions

776
00:33:43,400 --> 00:33:47,400
Speaker 1: from our listeners and we're gonna answer those questions, right,

777
00:33:47,680 --> 00:33:50,040
Speaker 1: and it's all on Instagram. So we'll put a post

778
00:33:50,200 --> 00:33:53,360
Speaker 1: up a few days before and we'll ask you know

779
00:33:53,520 --> 00:33:56,560
Speaker 1: your your questions, and then you guys just comment in

780
00:33:56,640 --> 00:33:59,480
Speaker 1: the comments section and then we'll pick ten questions and

781
00:33:59,520 --> 00:34:00,440
Speaker 1: then we'll we'll do.

782
00:34:00,400 --> 00:34:02,840
Speaker 3: It, so asks the expert. Yeah for sure, for sure.

783
00:34:02,840 --> 00:34:05,200
Speaker 1: So we're going to start out with the first question

784
00:34:05,320 --> 00:34:10,720
Speaker 1: is from I Underscore am underscore Asia shout out to her.

785
00:34:11,680 --> 00:34:15,480
Speaker 1: She wants to know how do you establish business credit?

786
00:34:15,760 --> 00:34:17,640
Speaker 2: All right, that's a good question, and there's actually a

787
00:34:17,640 --> 00:34:20,520
Speaker 2: big that's a big topic actually. So everyone seems to

788
00:34:20,520 --> 00:34:24,280
Speaker 2: think that business credit that once you register a company

789
00:34:24,360 --> 00:34:27,000
Speaker 2: name and you have a website and a bank account,

790
00:34:27,040 --> 00:34:29,640
Speaker 2: you have business credit. Actually don't have business credit. You're

791
00:34:29,680 --> 00:34:32,800
Speaker 2: still PG and everything under your social. Business credit runs

792
00:34:32,840 --> 00:34:36,440
Speaker 2: separately from your social it's established on the tax id.

793
00:34:36,719 --> 00:34:39,240
Speaker 2: It has to standalone by itself, has to sit by itself.

794
00:34:39,520 --> 00:34:42,080
Speaker 2: When you PG something that goes on your personal credit

795
00:34:42,120 --> 00:34:43,600
Speaker 2: GG with personal guarantee.

796
00:34:43,600 --> 00:34:46,120
Speaker 3: Okay, excuse me. It's when you.

797
00:34:46,160 --> 00:34:49,440
Speaker 2: PG something, it sits on your credit, on your personal credit.

798
00:34:49,760 --> 00:34:51,960
Speaker 2: Want it affects your BTI because if it's a like

799
00:34:51,960 --> 00:34:55,279
Speaker 2: an American's Press charge card, you're swiping thirty thousand a month.

800
00:34:55,760 --> 00:34:59,040
Speaker 2: Remember little debt high score. That's affecting your your score.

801
00:34:59,600 --> 00:35:03,480
Speaker 2: And two it makes your credit score drop. Right, So

802
00:35:04,600 --> 00:35:07,480
Speaker 2: business credit has to stand alone by it's itself on

803
00:35:07,520 --> 00:35:10,040
Speaker 2: the tax sidy. How do you establish it for There's

804
00:35:10,040 --> 00:35:12,120
Speaker 2: a ten step process. One you have to be the

805
00:35:12,200 --> 00:35:14,640
Speaker 2: taxid the bank account. You have to be registered in

806
00:35:14,800 --> 00:35:17,600
Speaker 2: your newspaper. You count the newspaper on the two newspapers

807
00:35:17,640 --> 00:35:21,520
Speaker 2: showing that you have your legitimate, legitimate business. You can't

808
00:35:21,520 --> 00:35:25,360
Speaker 2: have your home address as the business address because you

809
00:35:25,360 --> 00:35:27,759
Speaker 2: need to re scores experience equal facts and done a

810
00:35:27,800 --> 00:35:31,480
Speaker 2: Bradstreet Experience Equal facts is not recognize your home addresses

811
00:35:31,480 --> 00:35:33,680
Speaker 2: your business address and your cell phone is a business number.

812
00:35:34,480 --> 00:35:36,759
Speaker 2: That's why I tell people get a virtual space one

813
00:35:36,880 --> 00:35:38,600
Speaker 2: ninety nine like reagius or.

814
00:35:38,600 --> 00:35:39,560
Speaker 3: What about po box?

815
00:35:39,960 --> 00:35:42,920
Speaker 1: No you can't, so all right, I didn't know that,

816
00:35:43,000 --> 00:35:44,920
Speaker 1: so you had Okay, So because you.

817
00:35:44,880 --> 00:35:46,480
Speaker 2: Need a receptance on the phone number where they can

818
00:35:46,520 --> 00:35:48,400
Speaker 2: call them verified and send mails to.

819
00:35:48,960 --> 00:35:52,320
Speaker 1: Okay, so you can't get business credit without the address.

820
00:35:52,960 --> 00:35:56,200
Speaker 1: You need to separate from your home address and you need.

821
00:35:56,080 --> 00:35:56,840
Speaker 3: An office address.

822
00:35:56,880 --> 00:35:57,320
Speaker 4: That's correct.

823
00:35:57,320 --> 00:35:58,719
Speaker 2: That's why I say you get a regious space. One

824
00:35:58,800 --> 00:36:01,160
Speaker 2: night and nine is the cheapest thing, right, because it

825
00:36:01,239 --> 00:36:04,279
Speaker 2: needs to be verifiable by experienting equal facts. Because it's

826
00:36:04,280 --> 00:36:08,239
Speaker 2: three scores nunn a Bradstreet explant equal facts. You need

827
00:36:08,280 --> 00:36:10,000
Speaker 2: to be scores and all three viewers and how you

828
00:36:10,000 --> 00:36:10,840
Speaker 2: build business credit?

829
00:36:11,120 --> 00:36:12,880
Speaker 4: So why why is trans Union left out of that?

830
00:36:13,800 --> 00:36:16,359
Speaker 2: Did you just don't using Okay, it's not heavy enough, right,

831
00:36:16,440 --> 00:36:16,799
Speaker 2: all right?

832
00:36:16,800 --> 00:36:18,480
Speaker 1: So okay, so let's stay on that for a little bit.

833
00:36:18,640 --> 00:36:21,319
Speaker 1: So you all right, start a business. You got your LLC,

834
00:36:21,520 --> 00:36:24,399
Speaker 1: you got you got your taxi.

835
00:36:24,200 --> 00:36:26,320
Speaker 3: Number, bank, you can open your bank account registered in

836
00:36:26,360 --> 00:36:29,360
Speaker 3: the courthouse. Yeah, all that newspaper did all that stuff.

837
00:36:29,520 --> 00:36:32,000
Speaker 1: Now you the first So now you have to get

838
00:36:32,000 --> 00:36:32,680
Speaker 1: an address.

839
00:36:32,880 --> 00:36:33,160
Speaker 3: Correct.

840
00:36:33,560 --> 00:36:35,200
Speaker 1: So now we're now we're trying to build credit for

841
00:36:35,200 --> 00:36:38,120
Speaker 1: the business. Right, So you get a did you get

842
00:36:38,120 --> 00:36:40,920
Speaker 1: a Google number? Yeah, you get a Google number. We

843
00:36:40,960 --> 00:36:43,399
Speaker 1: get a number separate from your cell phones and get

844
00:36:43,400 --> 00:36:46,080
Speaker 1: an address separate from your cell phone. Now can the

845
00:36:46,120 --> 00:36:48,680
Speaker 1: address be another word like say, can I can I

846
00:36:48,760 --> 00:36:52,800
Speaker 1: use my sister's address? My address just separate from the

847
00:36:52,800 --> 00:36:54,000
Speaker 1: one you live the exactly.

848
00:36:54,000 --> 00:36:58,040
Speaker 3: Okay, So now that so now, now how do you establish.

849
00:36:57,880 --> 00:37:00,520
Speaker 2: Now you have that, you need trade lines. So that's company.

850
00:37:01,560 --> 00:37:06,239
Speaker 2: There's companies like Quills. There's like ten other companies out there.

851
00:37:06,880 --> 00:37:08,040
Speaker 2: I can't think of it right off the top of

852
00:37:08,040 --> 00:37:09,960
Speaker 2: my head. But here's how it works. I have a

853
00:37:09,960 --> 00:37:12,040
Speaker 2: whole list in my office. You reach out to them

854
00:37:12,120 --> 00:37:14,480
Speaker 2: and they give you ten They give you trade lines.

855
00:37:14,760 --> 00:37:16,400
Speaker 2: Trade lines are like loans. They'll give you like a

856
00:37:16,440 --> 00:37:19,240
Speaker 2: thousand dollar credit limit. You have to use fifty dollars

857
00:37:19,280 --> 00:37:22,360
Speaker 2: for the next six months of pay on time fifty

858
00:37:22,400 --> 00:37:24,120
Speaker 2: or more you have. It's built just like you're building

859
00:37:24,200 --> 00:37:29,040
Speaker 2: personal credit. But it's two dear vendors once. So you

860
00:37:29,080 --> 00:37:31,719
Speaker 2: need three of them. Three vendors. If you want to

861
00:37:31,719 --> 00:37:36,040
Speaker 2: get cards on like Best Buy, Office Depot, Office Max,

862
00:37:36,120 --> 00:37:38,120
Speaker 2: those guys. If you want credit cards from the bank,

863
00:37:38,160 --> 00:37:42,320
Speaker 2: you need six vendors. Sixpenders are six trade lines, right,

864
00:37:43,480 --> 00:37:46,279
Speaker 2: and you're built from with that for six months. From there,

865
00:37:46,320 --> 00:37:49,040
Speaker 2: you apply for your own credit cards. Now if you

866
00:37:49,080 --> 00:37:50,920
Speaker 2: want loans out of the bank, you have to have

867
00:37:50,960 --> 00:37:53,640
Speaker 2: a p and L, a profit and loss, and you

868
00:37:53,719 --> 00:37:56,000
Speaker 2: have to have a tax return in order for the

869
00:37:56,000 --> 00:37:58,120
Speaker 2: bank to extend loan under the business because they have

870
00:37:58,120 --> 00:38:00,000
Speaker 2: to see money coming into the company and money going back.

871
00:38:00,120 --> 00:38:02,040
Speaker 2: Have a PNL to see that. You know you can

872
00:38:02,080 --> 00:38:02,919
Speaker 2: pay the loans back.

873
00:38:03,480 --> 00:38:06,799
Speaker 3: Okay, okay, okay, right.

874
00:38:06,800 --> 00:38:09,480
Speaker 4: So we got our next question from Bob Bob Lewis III,

875
00:38:10,200 --> 00:38:12,840
Speaker 4: and he asked, can you establish credit.

876
00:38:12,600 --> 00:38:15,719
Speaker 2: For your children actually at seventeen or eighteen years old? Yeah,

877
00:38:15,719 --> 00:38:17,320
Speaker 2: you could. How you do it is that you Adam

878
00:38:17,400 --> 00:38:19,279
Speaker 2: was an authorized using one of your credit cards. But

879
00:38:19,719 --> 00:38:22,279
Speaker 2: with that coming back to your story, it has to

880
00:38:22,280 --> 00:38:24,719
Speaker 2: be a clean credit. You can't have high balances, you

881
00:38:24,760 --> 00:38:27,200
Speaker 2: can't have derogatories. But whatever you do will affect that person.

882
00:38:27,280 --> 00:38:28,920
Speaker 4: Yeah, I got lucky. I'm being honest. This is like

883
00:38:28,920 --> 00:38:31,720
Speaker 4: a true story, and I think we I first noticed

884
00:38:31,719 --> 00:38:35,360
Speaker 4: it when with Out told my credit and I was

885
00:38:35,400 --> 00:38:38,440
Speaker 4: twenty six and he was like, wait, you have twenty

886
00:38:38,440 --> 00:38:41,600
Speaker 4: three years of credit history, and I'm like, I don't know.

887
00:38:41,880 --> 00:38:44,560
Speaker 4: And then I realized that my parents put me on

888
00:38:44,600 --> 00:38:48,160
Speaker 4: their card that they've had since nineteen eighty five or

889
00:38:48,200 --> 00:38:50,080
Speaker 4: something like that, and I was like history, oh wow,

890
00:38:50,120 --> 00:38:52,160
Speaker 4: and they've been responsible, So like, yeah.

891
00:38:51,960 --> 00:38:53,560
Speaker 3: That don't affect you, y, that's effect.

892
00:38:53,600 --> 00:38:56,120
Speaker 4: It affected me in a positive way, positive, right negative?

893
00:38:56,320 --> 00:38:56,680
Speaker 3: Yeah.

894
00:38:56,760 --> 00:38:57,960
Speaker 2: Yeah, So you can do it, but it has to

895
00:38:58,000 --> 00:39:00,520
Speaker 2: be clean history. Okay, right at seventeen?

896
00:39:00,760 --> 00:39:04,560
Speaker 1: Moving on, okay, okay, So this is from Nelly Gibbs.

897
00:39:05,400 --> 00:39:07,760
Speaker 1: She wants to know what the best way to repay

898
00:39:07,920 --> 00:39:12,360
Speaker 1: student loans and what's the best way to handle student

899
00:39:12,360 --> 00:39:12,799
Speaker 1: loan debts.

900
00:39:12,800 --> 00:39:14,800
Speaker 2: Oh so we were talking about this earlier. So depending

901
00:39:14,840 --> 00:39:17,200
Speaker 2: on the loan, if it's deferred or it's in collection.

902
00:39:17,360 --> 00:39:19,680
Speaker 2: I mean, we kind of gotta find out that. But anyway,

903
00:39:19,719 --> 00:39:22,280
Speaker 2: the point is, if you have a bunch of student loans,

904
00:39:22,680 --> 00:39:24,839
Speaker 2: everything is based off of an income. The payment plan

905
00:39:24,920 --> 00:39:27,279
Speaker 2: is based off on an income based right, So when

906
00:39:27,320 --> 00:39:29,720
Speaker 2: you call a student loans you want to I suggest

907
00:39:29,719 --> 00:39:32,000
Speaker 2: everyone create a payment plan, Like, don't keep the firm.

908
00:39:33,000 --> 00:39:34,560
Speaker 2: It's not a good thing to do because it affects

909
00:39:34,560 --> 00:39:37,880
Speaker 2: you from doing bigger purchases in the future. But on

910
00:39:37,880 --> 00:39:39,480
Speaker 2: what you do is you call a student long company,

911
00:39:39,520 --> 00:39:40,880
Speaker 2: tell me you want to go on the income based

912
00:39:40,880 --> 00:39:43,200
Speaker 2: repayment plan, and they send your form.

913
00:39:43,239 --> 00:39:43,680
Speaker 3: You fill out.

914
00:39:43,960 --> 00:39:45,920
Speaker 2: The trick to that is that make sure when you

915
00:39:45,920 --> 00:39:47,680
Speaker 2: fill out the forms, you put it you have a

916
00:39:47,680 --> 00:39:50,000
Speaker 2: lot of expenses. So the monthly payment is a low

917
00:39:50,080 --> 00:39:52,400
Speaker 2: payment and they keep you, they lock you into that

918
00:39:52,440 --> 00:39:54,800
Speaker 2: for a couple of years and then you recertify again.

919
00:39:55,160 --> 00:39:56,360
Speaker 2: But you want to put like you know, you have

920
00:39:57,160 --> 00:40:00,600
Speaker 2: you know, rent cards, to daycare, whatever it is to

921
00:40:00,640 --> 00:40:02,560
Speaker 2: show that you have a lot of expenses. If not,

922
00:40:02,600 --> 00:40:04,200
Speaker 2: they're going to hit you with a high monthly payment

923
00:40:04,239 --> 00:40:05,319
Speaker 2: of seven more.

924
00:40:05,400 --> 00:40:07,000
Speaker 4: Yeah, we've seen. I've seen yet, like I've seen.

925
00:40:07,360 --> 00:40:08,160
Speaker 2: That's how you trick it.

926
00:40:08,400 --> 00:40:10,680
Speaker 4: Yeah. So our next question is from.

927
00:40:11,239 --> 00:40:14,080
Speaker 2: Uh oh and also, next thing, if you have student

928
00:40:14,080 --> 00:40:17,319
Speaker 2: loans and like two different like Sally made none and all,

929
00:40:17,360 --> 00:40:20,320
Speaker 2: that you can actually have all of those loans refinancing

930
00:40:20,360 --> 00:40:23,759
Speaker 2: the one loan, and I suggest everyone do that so

931
00:40:24,040 --> 00:40:25,480
Speaker 2: it's easy for you to attract the payments.

932
00:40:25,520 --> 00:40:27,839
Speaker 3: And I'm making money payments to five different companies.

933
00:40:27,680 --> 00:40:30,719
Speaker 4: That is one hundred percent thro man, like I was again,

934
00:40:30,960 --> 00:40:33,560
Speaker 4: I have student loans, like the first thing we what

935
00:40:33,600 --> 00:40:35,880
Speaker 4: I did was like consolidate them all, so like Navy,

936
00:40:35,920 --> 00:40:40,440
Speaker 4: and is now my correct shout out to them. Uh So,

937
00:40:40,520 --> 00:40:43,840
Speaker 4: our next question is from at flow underscore Bella Underscore,

938
00:40:44,200 --> 00:40:46,160
Speaker 4: and her question is what are some ways I can

939
00:40:46,200 --> 00:40:48,400
Speaker 4: fix my credit herself? Like what can she do?

940
00:40:48,640 --> 00:40:48,759
Speaker 3: So?

941
00:40:48,920 --> 00:40:50,520
Speaker 2: First off, you got to pull the report and pull

942
00:40:50,520 --> 00:40:53,160
Speaker 2: a real time report. You know, credit carment that accurate,

943
00:40:53,239 --> 00:40:57,040
Speaker 2: is not detailed. If you have a mortgage lender, those

944
00:40:57,040 --> 00:40:58,600
Speaker 2: are the best reports that they try and merge, and

945
00:40:58,600 --> 00:41:00,600
Speaker 2: they give you your whole history for when you were

946
00:41:00,640 --> 00:41:04,400
Speaker 2: seventeen or when you got credit the current excuse me.

947
00:41:04,440 --> 00:41:06,319
Speaker 2: Once you pull that report, you're able to see all

948
00:41:06,320 --> 00:41:08,840
Speaker 2: the derogatories and the issues that are holding down your credit.

949
00:41:10,560 --> 00:41:13,760
Speaker 2: If it's stuff that you know that was paid off already,

950
00:41:14,280 --> 00:41:16,560
Speaker 2: you can dispute it with the beers that had like

951
00:41:16,600 --> 00:41:19,000
Speaker 2: third party collections that have that taken off. But you

952
00:41:19,080 --> 00:41:22,040
Speaker 2: got to see the negatives on there and what debts

953
00:41:22,040 --> 00:41:23,759
Speaker 2: they are, so you can put a plant to address them.

954
00:41:23,960 --> 00:41:25,759
Speaker 2: If there's some desks, you can do settlements that you

955
00:41:25,800 --> 00:41:27,200
Speaker 2: have to do settlements so you can call it back

956
00:41:27,239 --> 00:41:30,319
Speaker 2: the credits directly and negotiate with them to make a

957
00:41:30,320 --> 00:41:32,319
Speaker 2: payment plan. You could even do one account of month

958
00:41:32,960 --> 00:41:35,279
Speaker 2: until you get to your end results.

959
00:41:34,920 --> 00:41:37,200
Speaker 4: And some things is one hundred percent accurate. It'll show

960
00:41:37,200 --> 00:41:39,360
Speaker 4: you that you missed a card payment in twenty fourteen.

961
00:41:39,560 --> 00:41:41,080
Speaker 3: Very detailed, very detailed.

962
00:41:41,080 --> 00:41:41,359
Speaker 4: All right.

963
00:41:41,400 --> 00:41:43,359
Speaker 1: So this is a big one. This is a big one.

964
00:41:43,400 --> 00:41:45,239
Speaker 1: This is from who cares underscore?

965
00:41:46,200 --> 00:41:49,520
Speaker 3: No one? I like that.

966
00:41:50,640 --> 00:41:55,520
Speaker 1: So can child support be removed from your credit and

967
00:41:55,719 --> 00:41:58,680
Speaker 1: can we talk about the effects of child support on

968
00:41:58,760 --> 00:41:59,280
Speaker 1: your credit?

969
00:42:00,120 --> 00:42:00,480
Speaker 3: Support?

970
00:42:00,520 --> 00:42:03,759
Speaker 2: It reports is a collection debt, all right? Yes, it

971
00:42:03,800 --> 00:42:06,279
Speaker 2: can be removed. Actually, we're the only one could remove them.

972
00:42:06,360 --> 00:42:08,600
Speaker 2: A letter cannot remove them. The problem is if we

973
00:42:08,719 --> 00:42:10,920
Speaker 2: remove them, you cannot miss a payment again, because if

974
00:42:10,960 --> 00:42:13,520
Speaker 2: you miss a payment, it'll come back on. Same thing

975
00:42:13,560 --> 00:42:15,359
Speaker 2: for late payments on credit card. I want to talk

976
00:42:15,360 --> 00:42:18,120
Speaker 2: about that. Actually, we can remove all your late payments,

977
00:42:18,160 --> 00:42:20,880
Speaker 2: but you cannot miss any late payments moving forward. If not,

978
00:42:20,960 --> 00:42:22,560
Speaker 2: it will come back on your credit word or a

979
00:42:22,600 --> 00:42:25,640
Speaker 2: bank reports and a batch file. Right, So child sport

980
00:42:25,719 --> 00:42:28,680
Speaker 2: can report and it is a collection also, so if

981
00:42:28,680 --> 00:42:32,240
Speaker 2: you're trying to buy something and you know your detail

982
00:42:32,360 --> 00:42:34,040
Speaker 2: is off and your numbers are off, it can affect

983
00:42:34,280 --> 00:42:36,040
Speaker 2: the monthly payment that you're paying, and child support can

984
00:42:36,080 --> 00:42:38,080
Speaker 2: affect your approval of how much you can get approofer

985
00:42:39,520 --> 00:42:40,520
Speaker 2: if that makes sense.

986
00:42:40,880 --> 00:42:43,280
Speaker 4: All right, So our next one is from at Done

987
00:42:43,320 --> 00:42:46,719
Speaker 4: in three to one, and he asked when do agencies

988
00:42:46,760 --> 00:42:49,880
Speaker 4: report debt balances? Is there a specific time during the

989
00:42:49,880 --> 00:42:50,520
Speaker 4: month that they do.

990
00:42:50,520 --> 00:42:52,719
Speaker 2: It, or when his agencies will you.

991
00:42:52,680 --> 00:42:55,400
Speaker 4: Talk about I'm assuming that any means like when does

992
00:42:55,520 --> 00:42:59,960
Speaker 4: like TransUnion or experience or epifact, is there a specific one?

993
00:43:00,200 --> 00:43:01,120
Speaker 3: The burwers don't.

994
00:43:01,760 --> 00:43:03,560
Speaker 2: The buwers update on the first to the fifth of

995
00:43:03,560 --> 00:43:06,120
Speaker 2: every month, but the data comes from the bank or

996
00:43:06,160 --> 00:43:08,319
Speaker 2: the flesh or the credit does not come from the

997
00:43:08,360 --> 00:43:11,080
Speaker 2: from the bureau. They don't want to just house the data,

998
00:43:11,280 --> 00:43:12,759
Speaker 2: and on the first to the fifth of every month

999
00:43:12,800 --> 00:43:16,400
Speaker 2: they update new reports. Your bank reports different days. Some

1000
00:43:16,520 --> 00:43:19,120
Speaker 2: days they report, you know, the ten to fifteenth, whatever

1001
00:43:19,280 --> 00:43:20,160
Speaker 2: your billing cycle is.

1002
00:43:20,239 --> 00:43:21,440
Speaker 4: But that's something you could find out.

1003
00:43:22,040 --> 00:43:24,359
Speaker 2: And to make it easy for you, if you want

1004
00:43:24,360 --> 00:43:26,160
Speaker 2: to make sure you never laid on your payment, you

1005
00:43:26,160 --> 00:43:28,920
Speaker 2: can call all your credit card companies and ask them

1006
00:43:28,920 --> 00:43:31,200
Speaker 2: to make your due They the same day every month,

1007
00:43:32,000 --> 00:43:33,799
Speaker 2: So if you have five cards, you can make them

1008
00:43:33,840 --> 00:43:36,840
Speaker 2: all of them the fifteenth of every month, so you know,

1009
00:43:36,920 --> 00:43:38,440
Speaker 2: you know, you know, if you're a person that keeps

1010
00:43:38,480 --> 00:43:40,600
Speaker 2: forgetting to make payments, you know on the fifteenth every

1011
00:43:40,600 --> 00:43:41,280
Speaker 2: bill is due.

1012
00:43:41,719 --> 00:43:42,839
Speaker 3: If you can afford to do it.

1013
00:43:43,480 --> 00:43:47,319
Speaker 1: Okay, Rage against Ordinary has a question. She wants to

1014
00:43:47,320 --> 00:43:51,040
Speaker 1: know after chapter seven bankruptcy, how long does that stay

1015
00:43:51,040 --> 00:43:51,680
Speaker 1: on your report?

1016
00:43:51,880 --> 00:43:55,560
Speaker 2: Bankruptcy stay for seven years. And here's the crazy thing

1017
00:43:55,520 --> 00:44:00,960
Speaker 2: about bankruptcy now. One the creditors can contest the bankruptcy. Really,

1018
00:44:01,000 --> 00:44:02,880
Speaker 2: they don't have to. Like let's say you have bank

1019
00:44:02,920 --> 00:44:05,120
Speaker 2: markers on towards for this. They can contest it. They

1020
00:44:05,160 --> 00:44:08,040
Speaker 2: don't have to accept the bankruptcy. They can say no,

1021
00:44:08,200 --> 00:44:10,640
Speaker 2: I don't you know, it's we don't want to I know.

1022
00:44:10,680 --> 00:44:13,600
Speaker 2: They can contest the bankruptcy. To the new bankruptcy laws,

1023
00:44:14,120 --> 00:44:16,200
Speaker 2: depending on what chapter you're filing, you have to pay

1024
00:44:16,200 --> 00:44:21,720
Speaker 2: a percentage of your debt back in court, right somethings.

1025
00:44:22,239 --> 00:44:24,359
Speaker 2: You have to pay a percentage and that's determined by

1026
00:44:24,400 --> 00:44:27,880
Speaker 2: the judge and magistrates. Where's doing your bankruptcy? What's your

1027
00:44:27,880 --> 00:44:31,200
Speaker 2: percentage is? So if you're filing bankruptcy, you gotta really

1028
00:44:31,200 --> 00:44:33,000
Speaker 2: think about it. If you don't have like fifty to

1029
00:44:33,040 --> 00:44:34,960
Speaker 2: one hundred thousand dollars worth of debt, it's not really

1030
00:44:34,960 --> 00:44:38,120
Speaker 2: finding bankruptcy. It's not really worth it in my eyes,

1031
00:44:38,200 --> 00:44:39,560
Speaker 2: to find bankruptcy for seven years.

1032
00:44:39,640 --> 00:44:41,279
Speaker 4: That was gonna be like. My next kind of question

1033
00:44:41,320 --> 00:44:43,799
Speaker 4: off of that is like, when would it be I

1034
00:44:43,800 --> 00:44:46,600
Speaker 4: guess appropriate to file for bankruptcy. Right, there's a certain

1035
00:44:46,920 --> 00:44:47,600
Speaker 4: amount of debt that.

1036
00:44:47,560 --> 00:44:51,319
Speaker 2: You should I mean, there's a couple of qualifying SCENARIOSM

1037
00:44:51,360 --> 00:44:53,680
Speaker 2: If you're not working, you know, you can't do anything

1038
00:44:53,680 --> 00:44:56,040
Speaker 2: about it. You can't pay anything, you know. But if

1039
00:44:56,040 --> 00:44:57,800
Speaker 2: you are working, you have some savings. Because when you

1040
00:44:57,840 --> 00:45:01,520
Speaker 2: find bankruptcy, they go through all you have to disclose assets, right,

1041
00:45:02,120 --> 00:45:03,839
Speaker 2: so you know, if you have money in the bank,

1042
00:45:03,840 --> 00:45:05,680
Speaker 2: you're like, well, why can't you pay this, knowing that

1043
00:45:05,719 --> 00:45:07,799
Speaker 2: the banking contest it. Not all banks have to and

1044
00:45:07,840 --> 00:45:09,879
Speaker 2: that happened to me actually because I did it many

1045
00:45:09,920 --> 00:45:12,400
Speaker 2: years ago and they contested it. Then you can't have

1046
00:45:12,440 --> 00:45:14,239
Speaker 2: been put You can't open an account for three years,

1047
00:45:14,239 --> 00:45:15,640
Speaker 2: a bank account, but you can't show if you have

1048
00:45:15,680 --> 00:45:17,719
Speaker 2: any kind of money, any bank account, any bank camp,

1049
00:45:18,080 --> 00:45:19,800
Speaker 2: because they can go back, oh, well you have money.

1050
00:45:20,120 --> 00:45:21,920
Speaker 3: You know. It becomes very messy.

1051
00:45:22,239 --> 00:45:24,760
Speaker 2: But again with the bankruptcy, and it's not as easy

1052
00:45:24,800 --> 00:45:26,600
Speaker 2: as like the way it was in twenty ten. You

1053
00:45:26,640 --> 00:45:29,040
Speaker 2: follow and you walk away. You got to pay a

1054
00:45:29,040 --> 00:45:31,799
Speaker 2: percentage back. So you know, I think everyone should really

1055
00:45:31,800 --> 00:45:35,080
Speaker 2: consider depending on the scenario, because still filing bankruptcy, it's

1056
00:45:35,120 --> 00:45:38,279
Speaker 2: not the best route. It is a route, but it's

1057
00:45:38,320 --> 00:45:40,960
Speaker 2: not the best route depending on your situation. But it

1058
00:45:40,960 --> 00:45:43,279
Speaker 2: stays there for seven years and then you can the

1059
00:45:43,320 --> 00:45:44,360
Speaker 2: other thing about that.

1060
00:45:45,680 --> 00:45:46,000
Speaker 3: You burn.

1061
00:45:46,120 --> 00:45:48,680
Speaker 2: Let's say in the industry is prime and subprime banks.

1062
00:45:49,080 --> 00:45:52,680
Speaker 2: So let's say you file bankruptcy, I where discover American Express,

1063
00:45:52,719 --> 00:45:55,440
Speaker 2: Barclay Chase. Once you find bankrupcy, you can't get back

1064
00:45:55,440 --> 00:45:57,080
Speaker 2: to do business with those guys. Again, They're not going

1065
00:45:57,120 --> 00:45:59,400
Speaker 2: to extend any credit. So now you're kind of stuck

1066
00:45:59,440 --> 00:46:02,239
Speaker 2: in a subprime and read supprime bank kind of rest

1067
00:46:02,280 --> 00:46:04,240
Speaker 2: of your life where you've been high interest rates because

1068
00:46:04,280 --> 00:46:05,759
Speaker 2: major banks are not going to extend any kind of

1069
00:46:05,760 --> 00:46:06,400
Speaker 2: credit card to you.

1070
00:46:07,719 --> 00:46:10,600
Speaker 4: That's what I will. Our next question is from at

1071
00:46:11,040 --> 00:46:14,000
Speaker 4: young God. He said, if if I default on my

1072
00:46:14,080 --> 00:46:16,640
Speaker 4: business credit cards, it doesn't show up on my personal credit.

1073
00:46:16,800 --> 00:46:19,360
Speaker 2: If you PG it, yes, no. If you didn't PG it, no,

1074
00:46:19,440 --> 00:46:22,239
Speaker 2: it does not. If you personally guarantee it when you

1075
00:46:22,360 --> 00:46:25,200
Speaker 2: open it, which I be honest with you, nine percent

1076
00:46:25,239 --> 00:46:27,160
Speaker 2: of nine and nine percent of the people that said

1077
00:46:27,200 --> 00:46:30,879
Speaker 2: they have business credit their PG and everything okay, could

1078
00:46:31,000 --> 00:46:33,600
Speaker 2: not go into the full steps of registering the company

1079
00:46:33,600 --> 00:46:36,919
Speaker 2: correctly and building it correctly. They're you know, if you

1080
00:46:37,239 --> 00:46:40,480
Speaker 2: if your socialist going on that application, your PG.

1081
00:46:40,320 --> 00:46:42,359
Speaker 1: And the role, so you're personally guarante Some more people

1082
00:46:42,440 --> 00:46:44,680
Speaker 1: think that they have business credits really just an extension

1083
00:46:44,719 --> 00:46:46,760
Speaker 1: of their own personal credit for their business.

1084
00:46:46,840 --> 00:46:47,120
Speaker 3: Correct.

1085
00:46:47,160 --> 00:46:50,160
Speaker 1: But you can actually establish business credit, but you have

1086
00:46:50,280 --> 00:46:53,000
Speaker 1: to go the steps of getting in office and having

1087
00:46:53,040 --> 00:46:57,440
Speaker 1: as correct. That's okay, that's important to understand people, and

1088
00:46:57,640 --> 00:47:00,520
Speaker 1: especially entrepreneurs because a lot of people don't know that.

1089
00:47:00,520 --> 00:47:02,600
Speaker 3: I didn't realize that. So all right, all.

1090
00:47:02,560 --> 00:47:05,080
Speaker 1: Right, man, So yeah, so that that was pretty extensive

1091
00:47:05,120 --> 00:47:09,600
Speaker 1: as far as the ten questions. All right, So I

1092
00:47:09,640 --> 00:47:14,120
Speaker 1: hope that you guys listen because one podcast episode is

1093
00:47:14,120 --> 00:47:17,960
Speaker 1: not gonna be enough to fully grasp. But what we

1094
00:47:18,040 --> 00:47:20,160
Speaker 1: try to do here, it's never enough for anything, but

1095
00:47:20,239 --> 00:47:22,160
Speaker 1: we try to plan a seed, right, We try to

1096
00:47:22,200 --> 00:47:26,080
Speaker 1: plan a seed and then hopefully you gain information. It's

1097
00:47:26,080 --> 00:47:27,600
Speaker 1: like when we had Quenton on as far as talk

1098
00:47:27,640 --> 00:47:29,839
Speaker 1: about stocks. Right, you can't learn about stocks in an hour,

1099
00:47:30,360 --> 00:47:34,600
Speaker 1: but you can you can gain enough information to now

1100
00:47:34,680 --> 00:47:38,920
Speaker 1: you can go on the journey of seeking information for yourself, right,

1101
00:47:39,360 --> 00:47:42,440
Speaker 1: and then also you have to work with professionals. So

1102
00:47:42,560 --> 00:47:45,720
Speaker 1: I always say, you can try to do things yourself

1103
00:47:45,880 --> 00:47:48,759
Speaker 1: and it may not be a bad thing, but it's

1104
00:47:48,800 --> 00:47:51,440
Speaker 1: always good to work with professionals if you can.

1105
00:47:51,600 --> 00:47:51,719
Speaker 4: Right.

1106
00:47:52,080 --> 00:47:54,879
Speaker 1: So that's why we brought Andy here, and Andy's gonna

1107
00:47:54,880 --> 00:47:57,319
Speaker 1: give all of you guys his information. But before we

1108
00:47:57,360 --> 00:48:01,520
Speaker 1: do that, I want to talk about La brieflee.

1109
00:48:01,960 --> 00:48:03,279
Speaker 3: Yeah, So we went to LA.

1110
00:48:03,640 --> 00:48:05,759
Speaker 1: As I said, this is our first episode back from LA,

1111
00:48:05,920 --> 00:48:09,480
Speaker 1: and it was dope. We had some some some great interviews,

1112
00:48:10,840 --> 00:48:13,440
Speaker 1: people mess some great people, and we had a networking

1113
00:48:13,440 --> 00:48:18,200
Speaker 1: event and about fifty people came, maybe even more, and

1114
00:48:18,280 --> 00:48:20,399
Speaker 1: we we fed the people, we gave them, we gave

1115
00:48:20,440 --> 00:48:23,799
Speaker 1: them drinks. It was just dope, a dope vibe. We

1116
00:48:23,840 --> 00:48:26,360
Speaker 1: want to come, Yes, we want to come to your city.

1117
00:48:27,640 --> 00:48:32,040
Speaker 1: So if you have speaking engagements, if you have opportunities,

1118
00:48:32,120 --> 00:48:34,279
Speaker 1: if you have anything for us, feel free to d

1119
00:48:34,440 --> 00:48:37,279
Speaker 1: m us. We feel free to email us. Because we

1120
00:48:37,360 --> 00:48:42,160
Speaker 1: have to spread the financial literacy word to the masses,

1121
00:48:42,719 --> 00:48:44,680
Speaker 1: and the only way to do that is to travel.

1122
00:48:44,680 --> 00:48:46,880
Speaker 1: We can do that via internet, but it's nothing like

1123
00:48:46,920 --> 00:48:48,760
Speaker 1: touching the people. So we want to go to Chicago.

1124
00:48:48,760 --> 00:48:49,880
Speaker 1: We want to go to Miami. We want to go

1125
00:48:49,920 --> 00:48:52,200
Speaker 1: to Toronto, Canada. We want to go to Philly, we

1126
00:48:52,239 --> 00:48:55,040
Speaker 1: want to go all of these different places. Atlanta, of course,

1127
00:48:55,040 --> 00:48:58,880
Speaker 1: we got to go to Atlanta. So Houston, but we

1128
00:48:58,960 --> 00:49:01,200
Speaker 1: need you guys help. So yeah, so we'll talk about

1129
00:49:01,200 --> 00:49:05,160
Speaker 1: our Patreon later. But before we wrap it up, Andy,

1130
00:49:05,200 --> 00:49:07,520
Speaker 1: can you and I just realized this too? Is that

1131
00:49:07,560 --> 00:49:11,120
Speaker 1: a DC yeah, chases chases chaso.

1132
00:49:11,440 --> 00:49:13,400
Speaker 3: Can you just give me like a thirty second extradition?

1133
00:49:14,320 --> 00:49:16,920
Speaker 3: Realize that happened? How that happened? Was that?

1134
00:49:18,200 --> 00:49:21,400
Speaker 2: So you guys want slow Bucks? See your slow you

1135
00:49:21,400 --> 00:49:22,920
Speaker 2: guys don't miss the rugs in Atlanta.

1136
00:49:23,000 --> 00:49:23,880
Speaker 4: Queens get the money.

1137
00:49:23,960 --> 00:49:27,080
Speaker 2: Yeah, you know I did some stuff with rugs two

1138
00:49:27,120 --> 00:49:29,480
Speaker 2: years ago, three years ago in Atlanta on his credit.

1139
00:49:30,360 --> 00:49:33,319
Speaker 2: He was purchasing some cards and you know, whatever he

1140
00:49:33,400 --> 00:49:34,360
Speaker 2: was purchasing.

1141
00:49:34,880 --> 00:49:36,600
Speaker 3: I helped him out. He got introduced to me to.

1142
00:49:38,160 --> 00:49:41,160
Speaker 2: Slow Bucks and then so anyway to him, I went

1143
00:49:41,200 --> 00:49:45,279
Speaker 2: down to the Mister White Party one year, hung out

1144
00:49:45,320 --> 00:49:48,719
Speaker 2: with him, Prime rest in peace, prime prime time.

1145
00:49:49,200 --> 00:49:50,640
Speaker 3: Uh, Meek Mills.

1146
00:49:50,680 --> 00:49:52,640
Speaker 2: I got induced to Meek and you know a bunch

1147
00:49:52,640 --> 00:49:54,600
Speaker 2: of guys to chains and all of them, and then

1148
00:49:54,600 --> 00:49:56,520
Speaker 2: you know we started talking at lunch on a Sunday

1149
00:49:56,520 --> 00:49:57,880
Speaker 2: that this was with this guy. Okay, here, I am

1150
00:49:57,920 --> 00:50:00,279
Speaker 2: a brown guy and these guy don't fit in. Who

1151
00:50:00,400 --> 00:50:03,240
Speaker 2: this guy you know, and there's a credit guy whatever whatever, whatever.

1152
00:50:03,560 --> 00:50:05,960
Speaker 2: I did some stuff for Meeks, you know, Meek the

1153
00:50:06,000 --> 00:50:07,399
Speaker 2: good vibe. You know, he's like, yeah, I like this guy,

1154
00:50:07,480 --> 00:50:09,600
Speaker 2: school door whatever. So you know HEO come up with

1155
00:50:09,640 --> 00:50:13,279
Speaker 2: the DC. You know, I appreciate that actually, and you

1156
00:50:13,320 --> 00:50:15,520
Speaker 2: know that's how it happened.

1157
00:50:15,600 --> 00:50:17,040
Speaker 4: Okay out to me.

1158
00:50:17,760 --> 00:50:20,640
Speaker 1: Yes, it's very rare to have a credit specialist to

1159
00:50:20,760 --> 00:50:24,120
Speaker 1: have a Meek milk chain. So for that, for that alone,

1160
00:50:24,160 --> 00:50:26,480
Speaker 1: you know, you gotta you gotta give him a shot.

1161
00:50:26,600 --> 00:50:29,120
Speaker 1: So can you tell people how to contact you? Your

1162
00:50:29,120 --> 00:50:30,759
Speaker 1: social media handles and all.

1163
00:50:30,719 --> 00:50:32,200
Speaker 3: The definite definite.

1164
00:50:32,280 --> 00:50:34,840
Speaker 2: So our website is ww dot y two K Credit

1165
00:50:34,880 --> 00:50:38,279
Speaker 2: Solutions dot com. Our social media is ye two K

1166
00:50:38,440 --> 00:50:40,720
Speaker 2: Underscore Credit Solutions dot com.

1167
00:50:41,120 --> 00:50:41,319
Speaker 4: Uh.

1168
00:50:41,480 --> 00:50:43,319
Speaker 2: The phone umber is five one six five six eight

1169
00:50:43,400 --> 00:50:46,960
Speaker 2: four five four one. We have our main locations in

1170
00:50:47,000 --> 00:50:50,080
Speaker 2: New York were satellite locations in h State two in Canada,

1171
00:50:50,160 --> 00:50:51,440
Speaker 2: Toronto and Ottawa.

1172
00:50:53,280 --> 00:50:55,680
Speaker 3: And you know that's it all right? Yeah google me.

1173
00:50:55,800 --> 00:50:57,600
Speaker 2: You know, you know I'm all over yeah, yeah.

1174
00:50:57,480 --> 00:50:59,279
Speaker 3: Yeah, check them out. Check them out. Sooy, can you

1175
00:50:59,280 --> 00:51:00,160
Speaker 3: talk about our patre.

1176
00:51:00,239 --> 00:51:04,400
Speaker 4: Yeah, man, it's pretty overwhelming. You know, we seek about

1177
00:51:04,400 --> 00:51:06,800
Speaker 4: Patreon every episode, and we you know, LA was the

1178
00:51:06,800 --> 00:51:09,080
Speaker 4: first time we got to actually reach out and go

1179
00:51:09,239 --> 00:51:11,359
Speaker 4: to see people, and a lot of us do because

1180
00:51:11,400 --> 00:51:14,320
Speaker 4: of the support that we get from Patreon and other avenues.

1181
00:51:15,320 --> 00:51:17,840
Speaker 4: So Patreon is a way for you to financially support

1182
00:51:18,080 --> 00:51:21,719
Speaker 4: the podcast. We can't do any of this without you,

1183
00:51:21,880 --> 00:51:23,800
Speaker 4: but if you know, if you want us financial support

1184
00:51:23,840 --> 00:51:26,000
Speaker 4: us so that we can go to other cities and

1185
00:51:26,200 --> 00:51:28,920
Speaker 4: spread the word of financial literacy and other things. Like

1186
00:51:28,960 --> 00:51:31,480
Speaker 4: we were in LA. We talked about multitude of topics. Man,

1187
00:51:31,520 --> 00:51:33,759
Speaker 4: we met at some great people and to see the

1188
00:51:33,840 --> 00:51:37,799
Speaker 4: message coming to fruition is just like amazing. I think

1189
00:51:37,800 --> 00:51:39,440
Speaker 4: I called I text you off on the plane, Like

1190
00:51:39,640 --> 00:51:42,520
Speaker 4: I'm completely overwhelmed with joy right now, just to see

1191
00:51:43,080 --> 00:51:45,800
Speaker 4: people actually responding to it that we've never met before.

1192
00:51:46,320 --> 00:51:49,560
Speaker 4: We had a great conversation the other day with some

1193
00:51:49,600 --> 00:51:53,080
Speaker 4: of our Patreon members about how they're applying what we're

1194
00:51:53,080 --> 00:51:57,319
Speaker 4: saying into real day like application. It was like amazing, right.

1195
00:51:57,360 --> 00:52:00,160
Speaker 4: We spoke to somebody who has a quap lit so

1196
00:52:00,920 --> 00:52:02,799
Speaker 4: ye had a quaplex right, and he was like, yo,

1197
00:52:02,880 --> 00:52:05,000
Speaker 4: I listened to episode twelve and it inspired me shout

1198
00:52:05,000 --> 00:52:07,640
Speaker 4: out right, and it was like, yo, this is crazy,

1199
00:52:07,719 --> 00:52:11,120
Speaker 4: Like look at the impact that we're having. So if

1200
00:52:11,120 --> 00:52:14,640
Speaker 4: you're not on Patreon, feel free to go with patreon

1201
00:52:14,680 --> 00:52:18,080
Speaker 4: dot com backslash Ernalisia. We have five different tiers that

1202
00:52:18,080 --> 00:52:20,080
Speaker 4: you can join at. There's a real basic tear and

1203
00:52:20,120 --> 00:52:22,239
Speaker 4: then we have a more extensive tier where we talked

1204
00:52:22,239 --> 00:52:25,319
Speaker 4: to people, you know, three times a month or you know,

1205
00:52:25,320 --> 00:52:28,080
Speaker 4: we have a video chat about the episode because some

1206
00:52:28,080 --> 00:52:31,399
Speaker 4: people have extended questions after that. We are, so feel

1207
00:52:31,400 --> 00:52:33,560
Speaker 4: free to check out Patreon out continue to support our

1208
00:52:33,600 --> 00:52:35,759
Speaker 4: merch Early Leisure dot com. I tell y'all, season two

1209
00:52:35,800 --> 00:52:37,719
Speaker 4: is coming, it's on the way, it's on the way.

1210
00:52:37,920 --> 00:52:39,280
Speaker 4: We're gonna be doing some dope stuff.

1211
00:52:39,880 --> 00:52:41,720
Speaker 1: So yeah, man, yeah, and I shout out to Cody

1212
00:52:42,200 --> 00:52:44,480
Speaker 1: and yeah, we spoke to him, and so we uh,

1213
00:52:44,960 --> 00:52:46,359
Speaker 1: we have you know a lot of times people want

1214
00:52:46,400 --> 00:52:49,200
Speaker 1: to pick our brain right for like business mentorship or

1215
00:52:49,280 --> 00:52:52,200
Speaker 1: investment mentorship. So we've built relationships with a lot of

1216
00:52:52,200 --> 00:52:52,960
Speaker 1: good people and.

1217
00:52:52,960 --> 00:52:53,640
Speaker 4: Really good people.

1218
00:52:53,760 --> 00:52:56,279
Speaker 1: We know a few things. So yeah, Patreon is a

1219
00:52:56,280 --> 00:52:59,000
Speaker 1: way to extended dialogue. So and just you know, like

1220
00:52:59,080 --> 00:53:00,800
Speaker 1: I said, just to travel. You were in LA and

1221
00:53:00,800 --> 00:53:02,680
Speaker 1: we're talking to Al Harrington and he's given us game

1222
00:53:02,760 --> 00:53:04,480
Speaker 1: and he's given y'all game just from being on the

1223
00:53:04,520 --> 00:53:06,560
Speaker 1: podcast about I mean, this guy's going to be a

1224
00:53:06,560 --> 00:53:10,480
Speaker 1: billionaire like it's happened, is what happened. So it's very

1225
00:53:10,560 --> 00:53:14,080
Speaker 1: rare to have an opportunity to have an hour conversation

1226
00:53:14,160 --> 00:53:16,719
Speaker 1: with a future billionaire and he's just given game free.

1227
00:53:16,880 --> 00:53:18,000
Speaker 1: We wouldn't have been able to do that if we

1228
00:53:18,040 --> 00:53:19,600
Speaker 1: didn't go to LA. So you know, we're going to

1229
00:53:19,640 --> 00:53:21,360
Speaker 1: go to Atlanta, like I said, all these places and

1230
00:53:21,880 --> 00:53:25,200
Speaker 1: shout out to Toronto, Canada. Can we just get a

1231
00:53:25,280 --> 00:53:29,000
Speaker 1: minute to talk about Toronto because somebody had a question.

1232
00:53:29,040 --> 00:53:31,799
Speaker 1: Two people had questions about credit and just like what

1233
00:53:31,840 --> 00:53:33,960
Speaker 1: you told me earlier, can you just because we don't

1234
00:53:33,960 --> 00:53:36,799
Speaker 1: want to just we're bigger than just America people. We

1235
00:53:36,880 --> 00:53:39,080
Speaker 1: have listeners all over the world. We have listeners in Africa,

1236
00:53:39,120 --> 00:53:41,120
Speaker 1: we have listeners in Europe, and we have listeners in Canada.

1237
00:53:41,200 --> 00:53:46,200
Speaker 1: Canada is one of our strongest basis in Toronto specifically.

1238
00:53:46,560 --> 00:53:49,360
Speaker 1: So yeah, just a brief because I know the credit

1239
00:53:49,400 --> 00:53:51,319
Speaker 1: over there works and you work in Canada too.

1240
00:53:51,239 --> 00:53:54,160
Speaker 2: Yeah, correct, correct, So you know Canada the only used

1241
00:53:54,200 --> 00:53:57,960
Speaker 2: two beers equal facts and TransUnion. The thing is Canada

1242
00:53:58,000 --> 00:54:00,400
Speaker 2: is a little more strict with the credit because they

1243
00:54:00,400 --> 00:54:02,240
Speaker 2: don't have that much banks, they don't. They're very strict

1244
00:54:02,239 --> 00:54:04,239
Speaker 2: how to extend credit, right, and it make sure that

1245
00:54:04,280 --> 00:54:07,040
Speaker 2: you have collateral for everything. But what takes us three

1246
00:54:07,120 --> 00:54:08,960
Speaker 2: months to fix in the US will take us six

1247
00:54:08,960 --> 00:54:11,400
Speaker 2: months to fix in Canada. It is fixable. It's just

1248
00:54:11,440 --> 00:54:17,160
Speaker 2: a longer process, but it is fixable. And Canada credit,

1249
00:54:17,200 --> 00:54:19,280
Speaker 2: like the economy is much more tighter than the US,

1250
00:54:19,440 --> 00:54:22,480
Speaker 2: you know, so it's fixable.

1251
00:54:22,960 --> 00:54:23,480
Speaker 3: You need us.

1252
00:54:23,520 --> 00:54:26,600
Speaker 2: We have an office, two officers out there actually, and

1253
00:54:26,719 --> 00:54:29,440
Speaker 2: one in Toronto, Mississauga seven seven to one one one

1254
00:54:29,480 --> 00:54:31,560
Speaker 2: sentext Boulevard and Ottawa.

1255
00:54:31,800 --> 00:54:32,040
Speaker 3: Yeah.

1256
00:54:32,360 --> 00:54:35,160
Speaker 1: So if you're in Canada, hit Andy, you worse to Canada.

1257
00:54:35,239 --> 00:54:38,080
Speaker 1: And we are coming to Toronto soon very let me know.

1258
00:54:38,160 --> 00:54:40,759
Speaker 2: I want to go to May twenty second, come out

1259
00:54:40,760 --> 00:54:43,719
Speaker 2: there with or something, do a networking event. Actually for

1260
00:54:43,760 --> 00:54:46,600
Speaker 2: sure we can have something up for sure. Yeah all right,

1261
00:54:46,680 --> 00:54:49,560
Speaker 2: so Annie, thank you for joining us again. Before I leave,

1262
00:54:49,560 --> 00:54:51,080
Speaker 2: I always have a book tips on my book tip

1263
00:54:51,239 --> 00:54:54,640
Speaker 2: of this episode will be Multiple streams of Income. It's

1264
00:54:54,680 --> 00:54:57,719
Speaker 2: a very very good book and we always talk about

1265
00:54:57,719 --> 00:54:59,600
Speaker 2: you know, you need multiple streams of income. So the

1266
00:55:00,320 --> 00:55:04,400
Speaker 2: it outlies multiple I think it outlies nine different streams

1267
00:55:04,400 --> 00:55:06,680
Speaker 2: of income and it kind of like gives. Each chapter

1268
00:55:06,760 --> 00:55:10,440
Speaker 2: is devoted to a different stream of income. So highly

1269
00:55:10,480 --> 00:55:13,719
Speaker 2: recommend the book Multiple streams of Income for anybody that

1270
00:55:13,880 --> 00:55:16,279
Speaker 2: is seeking multiple streams of income. And thank you for

1271
00:55:16,360 --> 00:55:17,799
Speaker 2: rocking with us. We will see you next week.

1272
00:55:17,840 --> 00:55:45,759
Speaker 3: Peace Please, you.

1273
00:55:45,719 --> 00:55:50,080
Speaker 6: Just realized your business needed to hire someone yesterday? How

1274
00:55:50,120 --> 00:55:54,640
Speaker 6: can you find amazing candidates fast? Easy? Just use Indeed.

1275
00:55:55,080 --> 00:55:57,799
Speaker 6: Stop struggling to get your job post seen on other

1276
00:55:57,880 --> 00:56:01,680
Speaker 6: job sites. With Indeed sponsored, your post jumps to the

1277
00:56:01,719 --> 00:56:04,319
Speaker 6: top of the page for your relevant candidates, so you

1278
00:56:04,320 --> 00:56:08,040
Speaker 6: can reach the people you want faster. According to Indeed data,

1279
00:56:08,120 --> 00:56:11,800
Speaker 6: sponsored jobs posted directly on Indeed have forty five percent

1280
00:56:11,880 --> 00:56:15,800
Speaker 6: more applications than non sponsored jobs. Don't wait any longer,

1281
00:56:16,040 --> 00:56:19,680
Speaker 6: speed up your hiring right now with Indeed, and listeners

1282
00:56:19,680 --> 00:56:22,120
Speaker 6: of this show will get a seventy five dollars sponsored

1283
00:56:22,200 --> 00:56:25,360
Speaker 6: job credit to get your jobs more visibility at indeed

1284
00:56:25,400 --> 00:56:30,960
Speaker 6: dot com. Slash pod Katz thirteen. Just go to indeed

1285
00:56:31,000 --> 00:56:36,120
Speaker 6: dot com, slash pod Katz thirteen right now and support

1286
00:56:36,160 --> 00:56:39,160
Speaker 6: our show by saying you heard about Indeed on this podcast.

1287
00:56:39,520 --> 00:56:43,160
Speaker 6: Terms and conditions apply. Hiring Indeed is all you need