WEBVTT - The Truth About Credit feat. Will Roundtree 0:00:01.080 --> 0:00:04.520 Yeah, get get no boys, it's back and reloaded all 0:00:04.640 --> 0:00:07.360 in your mind. Yeah, and now deep throating. This is 0:00:07.400 --> 0:00:11.400 for the streets, the reel, the railroading, the disenfranchise, the truth, 0:00:11.520 --> 0:00:14.440 the scapegoating. And they ain't knowing we speak the truth, 0:00:14.480 --> 0:00:16.960 so they ain't quoted because we wrote it. The North 0:00:17.000 --> 0:00:20.880 South East coat g b my, keeping your head bobbing. 0:00:21.200 --> 0:00:24.280 It ain't no stopping. It wants to be drips head 0:00:24.440 --> 0:00:27.000 by then the system is so corrupt they throw the 0:00:27.120 --> 0:00:29.240 rock out of their heads and then blame it on us. 0:00:31.000 --> 0:00:33.640 Don't get it twisted on code and we danceing for 0:00:33.760 --> 0:00:41.200 no Buttoment biscuits. Yeah, yeah, yeah, it's Willie d y'all 0:00:41.240 --> 0:00:44.560 scar faces in the building. Collectively we are the ghetto boys, 0:00:44.800 --> 0:00:48.120 reloaded with load of episode of information and instructions to 0:00:48.200 --> 0:00:52.479 help you get through this wild, crazy, beautiful world. In 0:00:52.520 --> 0:00:59.360 the studio. Credit expert, uh, financial advisor, I don't know 0:00:59.400 --> 0:01:05.160 about it. You know, financial strategist, and that is to 0:01:05.200 --> 0:01:12.720 make sure that you don't get caught. Okay, so financial strategists, Okay, 0:01:12.959 --> 0:01:16.240 Wealth expert. Can I say that I gotta put some 0:01:16.240 --> 0:01:22.039 big stuff down there? Okay? Okay, we are we are 0:01:22.120 --> 0:01:25.279 around tree is in the building. Is in the building. 0:01:25.400 --> 0:01:29.800 Mr brown Tree, what is a wealth expert? I guess 0:01:29.800 --> 0:01:33.440 someone who has a couple can't. Man, this is your title. 0:01:34.000 --> 0:01:36.120 You know what's so interesting? I don't even like titles. 0:01:36.920 --> 0:01:39.560 Don't get more people say, like the credit King and 0:01:39.600 --> 0:01:42.800 all of that. That's a moniker. People have actually given 0:01:42.840 --> 0:01:44.880 me because I was one of the first to really 0:01:45.319 --> 0:01:49.240 start hashtag and credit is King having trademarked and everything, 0:01:49.280 --> 0:01:51.400 and so it just kind of stuck with me, and 0:01:51.440 --> 0:01:54.720 so m I just let the people pay whatever, you know, 0:01:55.320 --> 0:01:58.120 longest it's respectful. I'm good with it, but I try 0:01:58.160 --> 0:02:01.440 to stay away from those monikers. Wow, Before I go 0:02:01.520 --> 0:02:04.040 any further, man, I just want to say thank you 0:02:04.640 --> 0:02:07.880 on a personal note, appreciate that for repairing my credit 0:02:09.639 --> 0:02:14.000 credit man ship my list. Man, My credit was so bad, 0:02:14.160 --> 0:02:18.040 bro that I didn't even care to look at it, 0:02:18.919 --> 0:02:22.399 like like, listen, bro. It was like if I went 0:02:22.440 --> 0:02:28.160 into any type of place, uh to like that required credit, 0:02:28.880 --> 0:02:37.200 alarms will go off. Get this motherfucker out of Everybody 0:02:37.240 --> 0:02:40.840 has a challenge with credit at some point in time. 0:02:40.960 --> 0:02:44.160 You know. You know what, man, I think that for me, 0:02:44.520 --> 0:02:46.919 I'm trying to think. I think I saw I may 0:02:46.960 --> 0:02:53.399 have saw you on probably was it was it? Maybe 0:02:53.480 --> 0:02:57.079 it probably was through J Morrison first and then and 0:02:57.120 --> 0:02:58.920 I was like, you know, I just reached out. It's like, 0:02:58.960 --> 0:03:00.800 you know, I know my stuff is jacked up and 0:03:00.840 --> 0:03:03.320 I know I want to do better. And I was like, 0:03:03.520 --> 0:03:05.280 and I reached out to you, and then we just 0:03:05.320 --> 0:03:07.640 connected and it's been on sense. But here's the cool 0:03:07.680 --> 0:03:10.840 thing about when I used him, And I want to 0:03:10.880 --> 0:03:12.400 say this right now, put this this claim out here 0:03:12.440 --> 0:03:13.720 right now. I ain't get no money out of this, 0:03:13.800 --> 0:03:15.840 all right. I already got my money out of it 0:03:15.880 --> 0:03:21.600 by him helping me out with credit repair. But uh, 0:03:21.639 --> 0:03:24.200 what he did. He didn't just repair my credit because 0:03:24.200 --> 0:03:28.480 I've had my credit repair many times and I missed 0:03:28.480 --> 0:03:32.600 it right back up. He educated me on credit. He 0:03:33.400 --> 0:03:36.440 actually educated me and told me what it was that 0:03:36.560 --> 0:03:39.520 was affecting my credit and how to make sure that 0:03:39.560 --> 0:03:42.520 I don't go down down the same pats. And that's 0:03:42.640 --> 0:03:46.040 that's how I got my credit healthy. And once that happened, man, 0:03:46.360 --> 0:03:49.200 now I'm like, man, if I get a bill about anything, 0:03:49.320 --> 0:03:52.640 I'd be like, man, man, hey man, how much that's all? 0:03:52.960 --> 0:03:55.120 That's it? That's it. Because I'm trying to keep my 0:03:55.160 --> 0:03:57.960 stuff right now. In the past, I remember, like you 0:03:58.000 --> 0:04:00.320 remember when they used to when they first started living, 0:04:00.480 --> 0:04:03.840 your bottled water to your door. They used to deliver 0:04:03.920 --> 0:04:07.960 my bottle of water to my front door, and I 0:04:08.000 --> 0:04:11.400 would tell them to put it in the back because 0:04:11.520 --> 0:04:14.000 if I'm not home, I don't want anybody to think 0:04:14.360 --> 0:04:17.400 or know that. So I'm like, uh, put it in 0:04:17.440 --> 0:04:19.560 the back, and they kept on putting it in the front. 0:04:19.560 --> 0:04:21.599 So I said, you know what, I ain't paying these 0:04:21.640 --> 0:04:24.840 motherfucker you know. So I decided I wasn't gonna pay them. 0:04:25.320 --> 0:04:30.600 The bill was only five bucks. That five bucks cost 0:04:30.680 --> 0:04:34.080 me forty points on my credit. A dollar can hurt 0:04:34.080 --> 0:04:37.320 your credit score. Yeah, it tripped me out, But that 0:04:37.360 --> 0:04:40.080 still didn't teach me a lesson because at I still 0:04:40.080 --> 0:04:42.680 didn't care about the credit that much because I felt 0:04:42.680 --> 0:04:45.880 like I got money, right, So if I got money, 0:04:46.000 --> 0:04:47.640 I don't need their credit. You know what I'm saying, 0:04:47.640 --> 0:04:49.040 I buy what I want. I'm gonna get what I 0:04:49.120 --> 0:04:51.200 wanted with Okay, I'll pay a little bit more. So 0:04:51.240 --> 0:04:55.159 what we don't understand how much more we pay. Well, 0:04:55.160 --> 0:04:57.599 that's the misconception when we don't have good credit in 0:04:57.600 --> 0:05:00.520 our community. You know, we've we've come up with these 0:05:00.640 --> 0:05:05.200 terms like cash rules everything around me. But people really 0:05:05.200 --> 0:05:07.840 don't know the power of credit. You know, I can 0:05:07.920 --> 0:05:12.160 give you a hundred thousand, and I can have an 0:05:12.160 --> 0:05:14.840 eight hundred credit score. My a fifty gonna outlast a 0:05:14.880 --> 0:05:17.359 hundred thousand because I can go to tim Banks and 0:05:17.400 --> 0:05:20.080 go get a hundred thousand. And that's the part about 0:05:20.160 --> 0:05:23.440 credit that people really don't understand. It's the power of it, 0:05:23.520 --> 0:05:27.000 not the credit itself. Right, man, how did you get 0:05:28.120 --> 0:05:30.400 turned on the credit in the first place? What made 0:05:30.440 --> 0:05:33.760 you want to say, Look, this is the path I'm 0:05:33.760 --> 0:05:36.159 gonna take. I could take any path, and I can 0:05:36.200 --> 0:05:40.600 go and be an entrepreneur and and and you know, 0:05:41.480 --> 0:05:45.520 start a bus company. I can go and uh pursue 0:05:45.960 --> 0:05:49.000 being a rapper like every other person in the world. 0:05:49.480 --> 0:05:53.000 You know, actually tried to so it didn't work, but 0:05:53.640 --> 0:05:57.000 you were trying to wrap. Yeah, first my rap name sucked. 0:05:58.400 --> 0:06:02.679 It was credit scored. Now he wasn't on the credit 0:06:02.880 --> 0:06:06.840 at that time. It was called mercenary. I was murdering 0:06:06.880 --> 0:06:11.080 the bar. It's kind of bad mercenary. That's terrible. That's 0:06:11.080 --> 0:06:18.560 why stop mercenary. That's why killing it. That's that's the 0:06:18.800 --> 0:06:23.599 that was the angle. It was a metaphor. Okay, so 0:06:23.720 --> 0:06:26.200 give him a rap name, Brad, give everybody a nickname. 0:06:26.320 --> 0:06:29.839 Give a rap knack. Uh, give me two minutes. I 0:06:29.880 --> 0:06:33.839 had one. So so explained that how did you decide 0:06:33.880 --> 0:06:36.720 to go into credit? So it started off really a 0:06:36.760 --> 0:06:40.320 personal need. You know, I grew up in Milwaukee, and 0:06:40.560 --> 0:06:44.160 it went from Milwaukee Milwaukee, Wisconsin. And so I had 0:06:44.160 --> 0:06:48.960 a mentor who had was just always sharing information with me, 0:06:49.120 --> 0:06:52.320 and one day he said, credit eventually will become the 0:06:52.320 --> 0:06:54.400 new dollar. I didn't know what he meant by that. 0:06:56.160 --> 0:07:00.520 Now it is so and that's how I don't doubt. 0:07:00.520 --> 0:07:02.679 I moved to Las Vegas in two thousand and five, 0:07:02.960 --> 0:07:05.920 and I couldn't rent an apartment without putting three four 0:07:05.960 --> 0:07:09.600 times the deposit down, couldn't buy a car without putting 0:07:10.400 --> 0:07:14.000 down and interest rate uh. And so I was like, 0:07:14.720 --> 0:07:16.400 you know what, it has to be something to this 0:07:16.440 --> 0:07:19.800 credit thing. And then I just started researching and learning 0:07:20.280 --> 0:07:24.000 what wealthy people knew that we didn't know because a 0:07:24.000 --> 0:07:26.400 lot of times we think wealthy people are lucky. No, 0:07:26.560 --> 0:07:29.880 they have different information to us. And a lot of 0:07:29.880 --> 0:07:32.600 the information kept coming back to this thing called leveraging. 0:07:32.640 --> 0:07:36.160 Your credit. And so as I started researching and learning, 0:07:36.200 --> 0:07:39.440 and then I heard Robert Kiyosaki, who wrote the book 0:07:39.520 --> 0:07:42.000 Rich Dad, Poor Dad, talk about how he bought his 0:07:42.080 --> 0:07:45.760 first investment property using a credit card, and it blew 0:07:45.800 --> 0:07:47.800 my mind because I'm like, man, they're not teaching us 0:07:47.800 --> 0:07:50.920 this ship in school. My parents never taught me about it. 0:07:51.000 --> 0:07:53.800 Nobody on my block, the o g s the oldhad. 0:07:53.880 --> 0:07:57.840 So I started really learning about credit. And then, you know, 0:07:57.920 --> 0:08:01.160 coming from Milwaukee, me owning a him, I never could 0:08:01.160 --> 0:08:04.120 even imagine that. And then I remember I was able 0:08:04.160 --> 0:08:06.240 to buy a house around two thousand and twelve. I 0:08:06.280 --> 0:08:09.679 was able to buy a newer vehicle, you know, without 0:08:09.680 --> 0:08:11.880 putting any money down, because we were always taught you 0:08:11.880 --> 0:08:15.800 gotta put money down on the car in Las Vegas. 0:08:16.040 --> 0:08:18.920 And how do you how does one get from the streets, 0:08:18.960 --> 0:08:23.960 the main streets of Milwaukee to Las Vegas. Well, first 0:08:23.960 --> 0:08:26.880 I went just with a dollar and a dream, you know. 0:08:27.560 --> 0:08:31.000 I moved out there to become an entrepreneur, to go 0:08:31.120 --> 0:08:33.200 after and kind of chase my dream. We're not kind 0:08:33.240 --> 0:08:35.959 of to chase my dreams. I found out that ship 0:08:36.120 --> 0:08:40.520 is hard. It's like anytime you're striving for any level 0:08:40.520 --> 0:08:44.319 of excellence. It's hard, and I tell people, but so 0:08:44.520 --> 0:08:48.000 is being poor hard. You know. I'd rather work hard 0:08:48.080 --> 0:08:50.760 to go after what it is that I want. And 0:08:50.840 --> 0:08:55.760 so just from my level of determination and ambition and drive, 0:08:55.920 --> 0:08:58.880 like all of those things that I feel Milwaukee instilled 0:08:58.920 --> 0:09:01.640 in me. Uh, that's how I was able to get 0:09:01.720 --> 0:09:05.360 to that position of being homeless to being able to 0:09:05.400 --> 0:09:08.760 own a home, you know, and I brought several jobs homes. 0:09:09.360 --> 0:09:16.280 I slept in my car, yeah, like homeless, homeless in 0:09:16.320 --> 0:09:19.640 the car I had. I was hiding from the Repo man. 0:09:20.240 --> 0:09:23.079 I didn't I couldn't even afford to get the vehicle registered. 0:09:23.200 --> 0:09:27.520 I was driving around on paper plates for a year. Yeah. 0:09:27.600 --> 0:09:31.120 Because one of the things, again going back to information, 0:09:31.160 --> 0:09:33.400 when I moved to Las Vegas, seeing Milwaukee, you buy 0:09:33.400 --> 0:09:36.680 a vehicles, it was forty dollars to register your vehicle. 0:09:37.320 --> 0:09:39.920 When you moved to Vegas, you pay based upon the 0:09:40.040 --> 0:09:42.680 M s r P of the vehicle, and so I 0:09:42.720 --> 0:09:45.720 think my registration fee would have been like four hundred bucks. 0:09:46.160 --> 0:09:49.720 I didn't have it, you know, so then my insurance laps. 0:09:49.760 --> 0:09:52.160 I mean, I was in a bad situation. But here's 0:09:52.160 --> 0:09:55.880 the thing, Well, like I never felt poor again, because 0:09:55.960 --> 0:09:59.440 I always knew that that situation was temporary. So what 0:09:59.640 --> 0:10:02.640 was your dream when you went to Vegas? Went drive 0:10:03.040 --> 0:10:05.640 you to Vegas in the first place. So how I 0:10:05.679 --> 0:10:08.840 got to Las Vegas. I was in a network marketing 0:10:08.880 --> 0:10:12.080 company back in Milwaukee. For those who don't know network 0:10:12.120 --> 0:10:16.600 marketing mL M. I was doing direct sales and I 0:10:16.640 --> 0:10:20.600 had achieved some success, uh, just from a title standpoint, 0:10:20.600 --> 0:10:23.080 because a lot of times these network marketing companies, it's 0:10:23.120 --> 0:10:28.000 title driven. You don't always make money, right, I had 0:10:28.040 --> 0:10:30.840 at all. I had everything on my on my suit 0:10:30.920 --> 0:10:36.959 jacket and meanwhile, your account is in the negative. No, 0:10:37.320 --> 0:10:39.480 I didn't make any money. But the thing that I 0:10:39.520 --> 0:10:43.400 did learn Brad was personal development. And that's that was 0:10:43.480 --> 0:10:48.000 my currency right there, because it changed my life. And so, uh, 0:10:48.080 --> 0:10:50.200 my mentor at the time was like, well, we're building 0:10:50.200 --> 0:10:54.160 the organization in Las Vegas. Uh, you know, have you 0:10:54.200 --> 0:10:56.079 thought about moving? And I wanted to get out of 0:10:56.120 --> 0:10:58.960 Milwaukee at the time, and so I was like, yeah, 0:10:59.040 --> 0:11:01.600 I go. You know, a single no kids, I really 0:11:01.880 --> 0:11:05.880 had nothing holding me in Milwaukee. I didn't have any money. 0:11:06.000 --> 0:11:08.160 So he was like, look, I'll loan you a couple 0:11:08.160 --> 0:11:11.480 of hundred bucks. So He literally borrowed me five hundred dollars. 0:11:11.559 --> 0:11:13.600 That's all I had to my name, and that ship 0:11:13.679 --> 0:11:18.160 had to last and how did you I don't remember. 0:11:18.280 --> 0:11:20.920 It probably was gone by the time I got off 0:11:20.920 --> 0:11:23.800 the plane. Because I had to find somewhere to stay 0:11:24.080 --> 0:11:28.080 food like somebody would who was within our organization. He 0:11:28.120 --> 0:11:31.080 was able to he let me uh rent a room 0:11:31.120 --> 0:11:32.760 from him for a while. So that's how I was 0:11:32.800 --> 0:11:34.920 able to get on my feet. And that's when you 0:11:34.960 --> 0:11:36.840 got your car after you got Yeah, so I was 0:11:36.880 --> 0:11:38.960 able to get a car. I knew nothing about the 0:11:39.040 --> 0:11:43.280 vehicle buying purchase process. All I know my interest rate 0:11:43.320 --> 0:11:47.440 was probably like the robbery, you know. And I never 0:11:47.520 --> 0:11:52.760 even made a payment. This was two thousand and five. No, 0:11:52.880 --> 0:11:55.000 I never made a payment on the vehicle. I didn't 0:11:55.040 --> 0:11:58.679 have a job because that's what I was, from a 0:11:58.800 --> 0:12:03.559 repo man, because I went out there like I was. 0:12:03.640 --> 0:12:06.320 Definitely because think about like when you make plans, you 0:12:06.400 --> 0:12:09.600 never assume it's not gonna go that way. So when 0:12:09.600 --> 0:12:13.000 I moved to Vegas, I'm staying in this room, I 0:12:13.080 --> 0:12:17.800 go buy a vehicle, I'm assuming, Okay, something's gonna shake 0:12:17.920 --> 0:12:20.520 from me. None of that should happened would they say 0:12:20.600 --> 0:12:23.640 Murphy's law. Anything that can go bad will And so 0:12:23.720 --> 0:12:27.640 I wasn't able to find work, Like nothing aligned, and 0:12:27.720 --> 0:12:29.560 so that's why I was never able to have money 0:12:29.559 --> 0:12:33.400 to make a payment. I couldn't register the vehicle of course, 0:12:33.559 --> 0:12:37.600 didn't have insurance. So now my license is suspended. I 0:12:37.679 --> 0:12:41.280 got a warrant, Like it was all warrant. Yeah, how 0:12:41.280 --> 0:12:45.360 did you? How did youually dub yourself out of that hole? Man? 0:12:45.440 --> 0:12:49.600 But what did you do to dig yourself out of 0:12:49.640 --> 0:12:53.400 this whole? Like that's where that personal development kicks in, Like, 0:12:53.520 --> 0:13:00.240 think about this absolutely. So you guys being legend dairy artist, 0:13:00.480 --> 0:13:03.720 take that off the table. But go ahead. I'm sure 0:13:03.800 --> 0:13:07.200 there was a period of time where the money didn't 0:13:07.240 --> 0:13:12.520 align with the output of the and they hit a 0:13:12.559 --> 0:13:19.040 few hubs. So what got you through that? Drive? Me? Drive? 0:13:19.320 --> 0:13:24.040 That's personal development. What about the hustle? You gotta have hustle. 0:13:25.440 --> 0:13:29.400 That's part of personal development. You can't have drive without hustle. Period. 0:13:29.520 --> 0:13:32.000 So me and really got the same thing. That's personal 0:13:32.840 --> 0:13:35.559 personal development. You dug yourself out of that. I had 0:13:35.600 --> 0:13:38.080 to because I wasn't going back to Milwaukee. Well, I 0:13:38.120 --> 0:13:40.360 told myself I would I would rather live in Vegas 0:13:40.400 --> 0:13:42.760 and a shelter than go back, because I don't give 0:13:42.840 --> 0:13:45.760 up on nothing. But you saw those lights in Vegas outside, 0:13:45.760 --> 0:13:50.280 and that was a different still live out there. In 0:13:50.360 --> 0:13:54.920 the sixteen years he got back, got back thirty houses 0:13:54.960 --> 0:14:00.600 in Vegas. I mean, I got a little something. Come on, 0:14:01.040 --> 0:14:09.200 we can't we can't get that. You can't over there 0:14:09.280 --> 0:14:15.800 right now, man, we can't. Man, this this guy is incourageable. Man, 0:14:16.040 --> 0:14:18.960 this guy is incouragiable. We're gonna have to look that 0:14:19.040 --> 0:14:26.280 up after Yeah, this this guy man, Yeah, incourageable. Yeah 0:14:26.480 --> 0:14:30.600 a man, I love you too, dog. So you dig 0:14:30.680 --> 0:14:32.680 yourself out the hole, man, and then you go to 0:14:32.760 --> 0:14:38.520 Vegas and you buy a multitude of houses on credit. 0:14:39.760 --> 0:14:42.640 Right but wait a minute, though you can't pay your 0:14:42.640 --> 0:14:45.320 car note, you got a warring out for your arrest. 0:14:45.800 --> 0:14:48.040 You dig yourself out of that hole and you come up. 0:14:48.760 --> 0:14:52.120 You learn about credit. Correct, you fix your credit. Yeah, 0:14:52.240 --> 0:14:55.440 that was a two year process to your process. You 0:14:55.520 --> 0:14:59.480 fixed your credit. So tell me this what was ahead? 0:14:59.520 --> 0:15:01.840 What was it step though? To fix your credit? The 0:15:01.920 --> 0:15:05.920 first thing is getting out of the denial. I have 0:15:06.040 --> 0:15:10.920 to look at it like it's so crazy that I 0:15:11.000 --> 0:15:16.640 know people who carry pistols who do all this stuff, 0:15:16.840 --> 0:15:21.400 but they're scared to look at their credit. I don't 0:15:21.400 --> 0:15:24.480 want to see it. So I had to get out 0:15:24.480 --> 0:15:27.320 of that denial, because again we've been conditioned to think 0:15:27.360 --> 0:15:30.000 that credit is negative. Remember Big Mama told his credit 0:15:30.080 --> 0:15:34.400 was bad. I didn't know that. That's what the consensus 0:15:34.520 --> 0:15:39.920 was in our house. And there is a a negative 0:15:40.360 --> 0:15:44.760 type of thing that comes with having credit or asking 0:15:44.920 --> 0:15:49.200 for credit in the hood, because I always associated credit 0:15:49.240 --> 0:15:53.280 with begging. I was like, with begging you know fast, 0:15:53.320 --> 0:15:56.800 It's like, you know, in the neighborhood. You can go 0:15:56.840 --> 0:15:59.320 to any story in the neighborhood, and that's certain people 0:15:59.360 --> 0:16:02.520 have them credit with with the story with the corner 0:16:02.560 --> 0:16:07.320 store right whatever time dos. So I always thought, like, 0:16:07.800 --> 0:16:09.640 you know, it's all credit. I mean, you know we 0:16:09.680 --> 0:16:12.400 have we got you got hood credit card, store credit, 0:16:12.560 --> 0:16:14.440 and then you have bank credit and all that kind 0:16:14.440 --> 0:16:17.200 of stuff. Well, I always associated with having to go 0:16:17.360 --> 0:16:20.360 ask for something because I couldn't afford I didn't have 0:16:20.400 --> 0:16:23.520 the cash you did. So I was always under deception 0:16:23.560 --> 0:16:25.600 that if you can't have you can't If you can't 0:16:25.600 --> 0:16:27.920 pay cash, you can't afford it. Right, think about it 0:16:27.960 --> 0:16:32.800 on every level of success. There's credit. Think about it. 0:16:33.240 --> 0:16:35.200 When you're in the street, like you say, street credit 0:16:36.160 --> 0:16:38.880 or hood credit. When you're going to do something on consignment, 0:16:38.960 --> 0:16:44.280 that's what that's credit. When you get a deal from 0:16:44.280 --> 0:16:48.040 a label, that's what that's really credit. You gotta pay 0:16:48.080 --> 0:16:51.760 that back what they call it an advance. Yeah, that's 0:16:51.840 --> 0:16:56.880 they But so we've been using credit all the time. 0:16:56.960 --> 0:16:59.760 We just again that's why I say it's really been 0:17:00.720 --> 0:17:05.080 uh they've they've conditioned us to look at that level 0:17:05.160 --> 0:17:09.080 of credit as it being negative. Because once you understand 0:17:09.080 --> 0:17:11.760 how that credit can be leveraged, as I often talk 0:17:11.840 --> 0:17:16.119 to people about it, it opens up so many doors. 0:17:16.600 --> 0:17:18.439 They don't want us to know that side of it. 0:17:18.520 --> 0:17:20.960 So let me give you a scenario. Here. We have 0:17:23.119 --> 0:17:28.800 consumer WI A who wants to buy a car, and 0:17:29.960 --> 0:17:35.719 consumer A has a let's say seven credit score. Consumer 0:17:36.760 --> 0:17:40.520 B wants to buy a car. Consumer B has a five, 0:17:42.119 --> 0:17:45.680 which is which is which is horrible? Right? So you 0:17:45.800 --> 0:17:50.119 got bad and then you got work good? Yeah, okay, okay, 0:17:50.160 --> 0:17:53.400 So they both go in to buy a car. What's 0:17:53.400 --> 0:17:58.119 the difference in uh in interest rate and the amount 0:17:58.119 --> 0:18:01.480 of money that one might be like it to put down? Right? 0:18:01.520 --> 0:18:05.240 So consumer A you go to the dealership, good credit, 0:18:05.720 --> 0:18:09.200 You're probably not putting any money down. You may get 0:18:09.200 --> 0:18:11.800 an interest rate anywhere from zero percent to maybe three, 0:18:12.720 --> 0:18:16.520 which means you have more purchasing power. So now consumer 0:18:16.600 --> 0:18:18.840 A can go to the dealership and get a vehicle 0:18:19.480 --> 0:18:23.119 let's say thirty grand and their payment and don't quote 0:18:23.119 --> 0:18:25.600 me on this, so don't be in my d MS people. Uh, 0:18:25.640 --> 0:18:29.639 their payment maybe let's just say five hundred bucks. Okay, 0:18:29.920 --> 0:18:34.159 Consumer B goes bad credit, he's off top, have to 0:18:34.160 --> 0:18:39.760 put down ten tot period. On top of that, your 0:18:39.760 --> 0:18:43.840 interest rate is gonna be and the term of the 0:18:43.880 --> 0:18:46.440 loan is going to be shorter. So for that same 0:18:46.480 --> 0:18:51.159 thirty tho allar vehicle, your payment maybe eight hundred bucks. 0:18:51.240 --> 0:18:53.399 And you came out and you came out of pockets. 0:18:53.400 --> 0:18:56.479 See that's what I didn't get earlier on. You know, 0:18:56.600 --> 0:19:00.359 like when you start adding that money up over the years, 0:19:00.520 --> 0:19:03.480 and then you you really start, if you're honest with yourself, 0:19:03.880 --> 0:19:08.560 you really start feeling dumb, right, real talk. And so 0:19:08.880 --> 0:19:12.960 for me, when I finally got mine together, man, I 0:19:13.000 --> 0:19:16.280 mean it was like it's like being born again. It's 0:19:16.320 --> 0:19:19.800 night and day different. When you got walk different, man, Yeah, 0:19:19.840 --> 0:19:22.119 you and you walk into the places. See back in 0:19:22.160 --> 0:19:23.879 the day, I would just walk in and because I 0:19:23.920 --> 0:19:26.840 had the money, you know, I was still walk in 0:19:26.880 --> 0:19:29.240 with a certain type of attitude because I know I 0:19:29.240 --> 0:19:32.640 could buy whatever I wanted. So you, no matter what, 0:19:33.000 --> 0:19:36.280 a lot of businesses, man, I'm talking about major businesses 0:19:36.320 --> 0:19:38.119 that that that money didn't come out of their pocket 0:19:38.960 --> 0:19:42.720 actually take our loans. They actually had decent credit to 0:19:42.800 --> 0:19:46.480 take our loans to build this hotel or a body 0:19:46.600 --> 0:19:49.040 a body's call out or whatever. Like, you have to 0:19:49.080 --> 0:19:54.360 have credit. Percent of the top five Fortune five companies 0:19:54.440 --> 0:19:59.920 use credit. And that's because that's because people don't understand. 0:20:00.000 --> 0:20:03.119 It's term called structured debt is something as we talk about, 0:20:03.880 --> 0:20:08.480 meaning people see, we just get conditioned to think, Okay, 0:20:08.960 --> 0:20:11.119 it's gonna cost me X amount of dollars to buy that, 0:20:11.200 --> 0:20:13.159 but I have to use debt to buy that. I 0:20:13.200 --> 0:20:15.440 don't want them to do with that, not knowing that 0:20:15.600 --> 0:20:19.639 understand that debt is now an asset that's making me 0:20:19.720 --> 0:20:22.960 ten percent on the money that I have to borrow. See, 0:20:23.000 --> 0:20:25.399 we don't understand how money work in the community. We 0:20:25.520 --> 0:20:28.960 just understand the word debt, not knowing that there's good 0:20:29.000 --> 0:20:32.240 debt and bad debt, it's called structured debt and unstructured debt, 0:20:32.680 --> 0:20:35.359 and a black community were only familiar with unstructured debt, 0:20:35.800 --> 0:20:38.399 meaning we go buy a house we can't afford. We 0:20:38.480 --> 0:20:40.600 go buy a car that we can't afford to impress 0:20:40.600 --> 0:20:44.320 people who don't like us. Never mind me, I'm looking 0:20:44.359 --> 0:20:48.880 up something, right, Yeah, So that's that's why people don't 0:20:49.000 --> 0:20:52.119 understand that. So yes, So one, when when an investment 0:20:52.800 --> 0:20:56.920 team goes and purchase a hotel, they're not using cash, 0:20:56.960 --> 0:21:05.040 they're using credit. Question when you go to clean credit, like, well, 0:21:05.119 --> 0:21:09.240 what's the process? Like you've seen your ship and then 0:21:09.240 --> 0:21:14.560 the people send your left back saying what do you do? Well, 0:21:14.560 --> 0:21:19.119 first of all, you first of all understand it is 0:21:19.160 --> 0:21:22.440 a process. And I have to tell people that because 0:21:22.640 --> 0:21:25.400 how long is that process? It can vary. Like I said, 0:21:25.440 --> 0:21:28.159 it took me two years. We've helped some people was 0:21:28.200 --> 0:21:31.600 taking them three or four months. Everybody's scenario is different 0:21:31.600 --> 0:21:33.399 because it depends on the type of that you have, 0:21:33.520 --> 0:21:35.639 the amount of debt. I mean, if you've been living 0:21:35.640 --> 0:21:38.880 with bad debt and bad credit for thirty years, it's 0:21:38.880 --> 0:21:42.760 not gonna happen overnight. It could take a while. I 0:21:42.760 --> 0:21:47.400 mean We've seen people who have seventy tho dollar repossession 0:21:47.560 --> 0:21:52.280 vehicles from BMW that may take eight months to to 0:21:52.440 --> 0:21:57.840 fight them, and how you fight them. So you just 0:21:57.920 --> 0:22:00.000 keep me on the letter she didn't mind, actual didn't manage, 0:22:00.000 --> 0:22:03.800 and then just say so when a debt is sold 0:22:04.000 --> 0:22:07.760 to a third party company, by law, they can't collect 0:22:07.840 --> 0:22:12.359 from you. By law, they're not they can't collect. And 0:22:12.400 --> 0:22:16.720 so on top of that, there are things put in 0:22:16.760 --> 0:22:19.360 place per the Fair Credit Reporting Act that means that 0:22:19.359 --> 0:22:22.600 that debt also has to be reported accurately. So let's 0:22:22.600 --> 0:22:25.439 just say a company A says, all right, Brad, you 0:22:25.480 --> 0:22:30.200 owe us five hundred bucks, but on the credit report 0:22:30.240 --> 0:22:32.920 it says five and twenty three dollars. They have to 0:22:32.960 --> 0:22:36.119 prove the debt down to the penny, and if they 0:22:36.119 --> 0:22:39.320 can't prove the debt down to the penny, they have 0:22:39.400 --> 0:22:42.679 to remove it when you challenge the validity of the 0:22:42.760 --> 0:22:47.840 accuracy of how it's being reported. That's one to the 0:22:47.960 --> 0:22:51.000 last dat of activity has to be accurate. That means 0:22:51.400 --> 0:22:54.760 the last time that money has been transacted on me 0:22:54.880 --> 0:22:58.119 making a payment on that debt. If the information isn't 0:22:58.240 --> 0:23:01.520 congruent on all three credit be roles, on Experience, Equifax 0:23:01.520 --> 0:23:05.520 and Transjunior. That's a discrepancy. So now you have to 0:23:05.560 --> 0:23:08.600 prove to me, as the creditor or the credit bureau, 0:23:08.760 --> 0:23:11.840 that that information is being reported accurately across the board. 0:23:11.880 --> 0:23:13.879 And if not, when I challenge it, you have to 0:23:13.920 --> 0:23:16.560 remove it. If you can't prove to me that you're 0:23:16.560 --> 0:23:19.399 reporting it accurately, well it's not because it shows me 0:23:19.480 --> 0:23:22.720 three different last dat of activities on this particular account 0:23:22.720 --> 0:23:25.520 on my credit report. And so the power is in 0:23:25.760 --> 0:23:29.000 the credit report. It holds all the all of the answers. 0:23:30.480 --> 0:23:33.240 But we have to first of all, we gotta understand 0:23:33.320 --> 0:23:37.080 it may cost you some money to get your credit report. 0:23:38.400 --> 0:23:40.720 So when people so when people say, what's the first thing? 0:23:40.800 --> 0:23:42.399 Some people don't want to pay for the credit report? 0:23:42.920 --> 0:23:45.080 What's the what? What? What's what? What? What's the typical 0:23:45.160 --> 0:23:50.240 number for um getting your credit uh fixed? How much? 0:23:50.280 --> 0:23:53.600 How much? Does it depends on how much damage it 0:23:53.880 --> 0:23:55.840 can it can it can arrange. But but this is 0:23:55.920 --> 0:23:58.240 this is how I'll put it though, because some people 0:23:58.280 --> 0:24:03.080 are like, Okay, let's just say a company charges five hundred. 0:24:03.160 --> 0:24:06.160 You have company B charges a thousand, you have companies 0:24:06.160 --> 0:24:10.359 C charges hundred. I noticed lady. And this was about 0:24:11.480 --> 0:24:18.119