Speaker 1: Yeah, get get no boys, it's back and reloaded all
Speaker 1: in your mind. Yeah, and now deep throating. This is
Speaker 1: for the streets, the reel, the railroading, the disenfranchise, the truth,
Speaker 1: the scapegoating. And they ain't knowing we speak the truth,
Speaker 1: so they ain't quoted because we wrote it. The North
Speaker 1: South East coat g b my, keeping your head bobbing.
Speaker 1: It ain't no stopping. It wants to be drips head
Speaker 1: by then the system is so corrupt they throw the
Speaker 1: rock out of their heads and then blame it on us.
Speaker 1: Don't get it twisted on code and we danceing for
Speaker 1: no Buttoment biscuits. Yeah, yeah, yeah, it's Willie d y'all
Speaker 1: scar faces in the building. Collectively we are the ghetto boys,
Speaker 1: reloaded with load of episode of information and instructions to
Speaker 1: help you get through this wild, crazy, beautiful world. In
Speaker 1: the studio. Credit expert, uh, financial advisor, I don't know
Speaker 1: about it. You know, financial strategist, and that is to
Speaker 1: make sure that you don't get caught. Okay, so financial strategists, Okay,
Speaker 1: Wealth expert. Can I say that I gotta put some
Speaker 1: big stuff down there? Okay? Okay, we are we are
Speaker 1: around tree is in the building. Is in the building.
Speaker 1: Mr brown Tree, what is a wealth expert? I guess
Speaker 1: someone who has a couple can't. Man, this is your title.
Speaker 1: You know what's so interesting? I don't even like titles.
Speaker 1: Don't get more people say, like the credit King and
Speaker 1: all of that. That's a moniker. People have actually given
Speaker 1: me because I was one of the first to really
Speaker 1: start hashtag and credit is King having trademarked and everything,
Speaker 1: and so it just kind of stuck with me, and
Speaker 1: so m I just let the people pay whatever, you know,
Speaker 1: longest it's respectful. I'm good with it, but I try
Speaker 1: to stay away from those monikers. Wow, Before I go
Speaker 1: any further, man, I just want to say thank you
Speaker 1: on a personal note, appreciate that for repairing my credit
Speaker 1: credit man ship my list. Man, My credit was so bad,
Speaker 1: bro that I didn't even care to look at it,
Speaker 1: like like, listen, bro. It was like if I went
Speaker 1: into any type of place, uh to like that required credit,
Speaker 1: alarms will go off. Get this motherfucker out of Everybody
Speaker 1: has a challenge with credit at some point in time.
Speaker 1: You know. You know what, man, I think that for me,
Speaker 1: I'm trying to think. I think I saw I may
Speaker 1: have saw you on probably was it was it? Maybe
Speaker 1: it probably was through J Morrison first and then and
Speaker 1: I was like, you know, I just reached out. It's like,
Speaker 1: you know, I know my stuff is jacked up and
Speaker 1: I know I want to do better. And I was like,
Speaker 1: and I reached out to you, and then we just
Speaker 1: connected and it's been on sense. But here's the cool
Speaker 1: thing about when I used him, And I want to
Speaker 1: say this right now, put this this claim out here
Speaker 1: right now. I ain't get no money out of this,
Speaker 1: all right. I already got my money out of it
Speaker 1: by him helping me out with credit repair. But uh,
Speaker 1: what he did. He didn't just repair my credit because
Speaker 1: I've had my credit repair many times and I missed
Speaker 1: it right back up. He educated me on credit. He
Speaker 1: actually educated me and told me what it was that
Speaker 1: was affecting my credit and how to make sure that
Speaker 1: I don't go down down the same pats. And that's
Speaker 1: that's how I got my credit healthy. And once that happened, man,
Speaker 1: now I'm like, man, if I get a bill about anything,
Speaker 1: I'd be like, man, man, hey man, how much that's all?
Speaker 1: That's it? That's it. Because I'm trying to keep my
Speaker 1: stuff right now. In the past, I remember, like you
Speaker 1: remember when they used to when they first started living,
Speaker 1: your bottled water to your door. They used to deliver
Speaker 1: my bottle of water to my front door, and I
Speaker 1: would tell them to put it in the back because
Speaker 1: if I'm not home, I don't want anybody to think
Speaker 1: or know that. So I'm like, uh, put it in
Speaker 1: the back, and they kept on putting it in the front.
Speaker 1: So I said, you know what, I ain't paying these
Speaker 1: motherfucker you know. So I decided I wasn't gonna pay them.
Speaker 1: The bill was only five bucks. That five bucks cost
Speaker 1: me forty points on my credit. A dollar can hurt
Speaker 1: your credit score. Yeah, it tripped me out, But that
Speaker 1: still didn't teach me a lesson because at I still
Speaker 1: didn't care about the credit that much because I felt
Speaker 1: like I got money, right, So if I got money,
Speaker 1: I don't need their credit. You know what I'm saying,
Speaker 1: I buy what I want. I'm gonna get what I
Speaker 1: wanted with Okay, I'll pay a little bit more. So
Speaker 1: what we don't understand how much more we pay. Well,
Speaker 1: that's the misconception when we don't have good credit in
Speaker 1: our community. You know, we've we've come up with these
Speaker 1: terms like cash rules everything around me. But people really
Speaker 1: don't know the power of credit. You know, I can
Speaker 1: give you a hundred thousand, and I can have an
Speaker 1: eight hundred credit score. My a fifty gonna outlast a
Speaker 1: hundred thousand because I can go to tim Banks and
Speaker 1: go get a hundred thousand. And that's the part about
Speaker 1: credit that people really don't understand. It's the power of it,
Speaker 1: not the credit itself. Right, man, how did you get
Speaker 1: turned on the credit in the first place? What made
Speaker 1: you want to say, Look, this is the path I'm
Speaker 1: gonna take. I could take any path, and I can
Speaker 1: go and be an entrepreneur and and and you know,
Speaker 1: start a bus company. I can go and uh pursue
Speaker 1: being a rapper like every other person in the world.
Speaker 1: You know, actually tried to so it didn't work, but
Speaker 1: you were trying to wrap. Yeah, first my rap name sucked.
Speaker 1: It was credit scored. Now he wasn't on the credit
Speaker 1: at that time. It was called mercenary. I was murdering
Speaker 1: the bar. It's kind of bad mercenary. That's terrible. That's
Speaker 1: why stop mercenary. That's why killing it. That's that's the
Speaker 1: that was the angle. It was a metaphor. Okay, so
Speaker 1: give him a rap name, Brad, give everybody a nickname.
Speaker 1: Give a rap knack. Uh, give me two minutes. I
Speaker 1: had one. So so explained that how did you decide
Speaker 1: to go into credit? So it started off really a
Speaker 1: personal need. You know, I grew up in Milwaukee, and
Speaker 1: it went from Milwaukee Milwaukee, Wisconsin. And so I had
Speaker 1: a mentor who had was just always sharing information with me,
Speaker 1: and one day he said, credit eventually will become the
Speaker 1: new dollar. I didn't know what he meant by that.
Speaker 1: Now it is so and that's how I don't doubt.
Speaker 1: I moved to Las Vegas in two thousand and five,
Speaker 1: and I couldn't rent an apartment without putting three four
Speaker 1: times the deposit down, couldn't buy a car without putting
Speaker 1: down and interest rate uh. And so I was like,
Speaker 1: you know what, it has to be something to this
Speaker 1: credit thing. And then I just started researching and learning
Speaker 1: what wealthy people knew that we didn't know because a
Speaker 1: lot of times we think wealthy people are lucky. No,
Speaker 1: they have different information to us. And a lot of
Speaker 1: the information kept coming back to this thing called leveraging.
Speaker 1: Your credit. And so as I started researching and learning,
Speaker 1: and then I heard Robert Kiyosaki, who wrote the book
Speaker 1: Rich Dad, Poor Dad, talk about how he bought his
Speaker 1: first investment property using a credit card, and it blew
Speaker 1: my mind because I'm like, man, they're not teaching us
Speaker 1: this ship in school. My parents never taught me about it.
Speaker 1: Nobody on my block, the o g s the oldhad.
Speaker 1: So I started really learning about credit. And then, you know,
Speaker 1: coming from Milwaukee, me owning a him, I never could
Speaker 1: even imagine that. And then I remember I was able
Speaker 1: to buy a house around two thousand and twelve. I
Speaker 1: was able to buy a newer vehicle, you know, without
Speaker 1: putting any money down, because we were always taught you
Speaker 1: gotta put money down on the car in Las Vegas.
Speaker 1: And how do you how does one get from the streets,
Speaker 1: the main streets of Milwaukee to Las Vegas. Well, first
Speaker 1: I went just with a dollar and a dream, you know.
Speaker 1: I moved out there to become an entrepreneur, to go
Speaker 1: after and kind of chase my dream. We're not kind
Speaker 1: of to chase my dreams. I found out that ship
Speaker 1: is hard. It's like anytime you're striving for any level
Speaker 1: of excellence. It's hard, and I tell people, but so
Speaker 1: is being poor hard. You know. I'd rather work hard
Speaker 1: to go after what it is that I want. And
Speaker 1: so just from my level of determination and ambition and drive,
Speaker 1: like all of those things that I feel Milwaukee instilled
Speaker 1: in me. Uh, that's how I was able to get
Speaker 1: to that position of being homeless to being able to
Speaker 1: own a home, you know, and I brought several jobs homes.
Speaker 1: I slept in my car, yeah, like homeless, homeless in
Speaker 1: the car I had. I was hiding from the Repo man.
Speaker 1: I didn't I couldn't even afford to get the vehicle registered.
Speaker 1: I was driving around on paper plates for a year. Yeah.
Speaker 1: Because one of the things, again going back to information,
Speaker 1: when I moved to Las Vegas, seeing Milwaukee, you buy
Speaker 1: a vehicles, it was forty dollars to register your vehicle.
Speaker 1: When you moved to Vegas, you pay based upon the
Speaker 1: M s r P of the vehicle, and so I
Speaker 1: think my registration fee would have been like four hundred bucks.
Speaker 1: I didn't have it, you know, so then my insurance laps.
Speaker 1: I mean, I was in a bad situation. But here's
Speaker 1: the thing, Well, like I never felt poor again, because
Speaker 1: I always knew that that situation was temporary. So what
Speaker 1: was your dream when you went to Vegas? Went drive
Speaker 1: you to Vegas in the first place. So how I
Speaker 1: got to Las Vegas. I was in a network marketing
Speaker 1: company back in Milwaukee. For those who don't know network
Speaker 1: marketing mL M. I was doing direct sales and I
Speaker 1: had achieved some success, uh, just from a title standpoint,
Speaker 1: because a lot of times these network marketing companies, it's
Speaker 1: title driven. You don't always make money, right, I had
Speaker 1: at all. I had everything on my on my suit
Speaker 1: jacket and meanwhile, your account is in the negative. No,
Speaker 1: I didn't make any money. But the thing that I
Speaker 1: did learn Brad was personal development. And that's that was
Speaker 1: my currency right there, because it changed my life. And so, uh,
Speaker 1: my mentor at the time was like, well, we're building
Speaker 1: the organization in Las Vegas. Uh, you know, have you
Speaker 1: thought about moving? And I wanted to get out of
Speaker 1: Milwaukee at the time, and so I was like, yeah,
Speaker 1: I go. You know, a single no kids, I really
Speaker 1: had nothing holding me in Milwaukee. I didn't have any money.
Speaker 1: So he was like, look, I'll loan you a couple
Speaker 1: of hundred bucks. So He literally borrowed me five hundred dollars.
Speaker 1: That's all I had to my name, and that ship
Speaker 1: had to last and how did you I don't remember.
Speaker 1: It probably was gone by the time I got off
Speaker 1: the plane. Because I had to find somewhere to stay
Speaker 1: food like somebody would who was within our organization. He
Speaker 1: was able to he let me uh rent a room
Speaker 1: from him for a while. So that's how I was
Speaker 1: able to get on my feet. And that's when you
Speaker 1: got your car after you got Yeah, so I was
Speaker 1: able to get a car. I knew nothing about the
Speaker 1: vehicle buying purchase process. All I know my interest rate
Speaker 1: was probably like the robbery, you know. And I never
Speaker 1: even made a payment. This was two thousand and five. No,
Speaker 1: I never made a payment on the vehicle. I didn't
Speaker 1: have a job because that's what I was, from a
Speaker 1: repo man, because I went out there like I was.
Speaker 1: Definitely because think about like when you make plans, you
Speaker 1: never assume it's not gonna go that way. So when
Speaker 1: I moved to Vegas, I'm staying in this room, I
Speaker 1: go buy a vehicle, I'm assuming, Okay, something's gonna shake
Speaker 1: from me. None of that should happened would they say
Speaker 1: Murphy's law. Anything that can go bad will And so
Speaker 1: I wasn't able to find work, Like nothing aligned, and
Speaker 1: so that's why I was never able to have money
Speaker 1: to make a payment. I couldn't register the vehicle of course,
Speaker 1: didn't have insurance. So now my license is suspended. I
Speaker 1: got a warrant, Like it was all warrant. Yeah, how
Speaker 1: did you? How did youually dub yourself out of that hole? Man?
Speaker 1: But what did you do to dig yourself out of
Speaker 1: this whole? Like that's where that personal development kicks in, Like,
Speaker 1: think about this absolutely. So you guys being legend dairy artist,
Speaker 1: take that off the table. But go ahead. I'm sure
Speaker 1: there was a period of time where the money didn't
Speaker 1: align with the output of the and they hit a
Speaker 1: few hubs. So what got you through that? Drive? Me? Drive?
Speaker 1: That's personal development. What about the hustle? You gotta have hustle.
Speaker 1: That's part of personal development. You can't have drive without hustle. Period.
Speaker 1: So me and really got the same thing. That's personal
Speaker 1: personal development. You dug yourself out of that. I had
Speaker 1: to because I wasn't going back to Milwaukee. Well, I
Speaker 1: told myself I would I would rather live in Vegas
Speaker 1: and a shelter than go back, because I don't give
Speaker 1: up on nothing. But you saw those lights in Vegas outside,
Speaker 1: and that was a different still live out there. In
Speaker 1: the sixteen years he got back, got back thirty houses
Speaker 1: in Vegas. I mean, I got a little something. Come on,
Speaker 1: we can't we can't get that. You can't over there
Speaker 1: right now, man, we can't. Man, this this guy is incourageable. Man,
Speaker 1: this guy is incouragiable. We're gonna have to look that
Speaker 1: up after Yeah, this this guy man, Yeah, incourageable. Yeah
Speaker 1: a man, I love you too, dog. So you dig
Speaker 1: yourself out the hole, man, and then you go to
Speaker 1: Vegas and you buy a multitude of houses on credit.
Speaker 1: Right but wait a minute, though you can't pay your
Speaker 1: car note, you got a warring out for your arrest.
Speaker 1: You dig yourself out of that hole and you come up.
Speaker 1: You learn about credit. Correct, you fix your credit. Yeah,
Speaker 1: that was a two year process to your process. You
Speaker 1: fixed your credit. So tell me this what was ahead?
Speaker 1: What was it step though? To fix your credit? The
Speaker 1: first thing is getting out of the denial. I have
Speaker 1: to look at it like it's so crazy that I
Speaker 1: know people who carry pistols who do all this stuff,
Speaker 1: but they're scared to look at their credit. I don't
Speaker 1: want to see it. So I had to get out
Speaker 1: of that denial, because again we've been conditioned to think
Speaker 1: that credit is negative. Remember Big Mama told his credit
Speaker 1: was bad. I didn't know that. That's what the consensus
Speaker 1: was in our house. And there is a a negative
Speaker 1: type of thing that comes with having credit or asking
Speaker 1: for credit in the hood, because I always associated credit
Speaker 1: with begging. I was like, with begging you know fast,
Speaker 1: It's like, you know, in the neighborhood. You can go
Speaker 1: to any story in the neighborhood, and that's certain people
Speaker 1: have them credit with with the story with the corner
Speaker 1: store right whatever time dos. So I always thought, like,
Speaker 1: you know, it's all credit. I mean, you know we
Speaker 1: have we got you got hood credit card, store credit,
Speaker 1: and then you have bank credit and all that kind
Speaker 1: of stuff. Well, I always associated with having to go
Speaker 1: ask for something because I couldn't afford I didn't have
Speaker 1: the cash you did. So I was always under deception
Speaker 1: that if you can't have you can't If you can't
Speaker 1: pay cash, you can't afford it. Right, think about it
Speaker 1: on every level of success. There's credit. Think about it.
Speaker 1: When you're in the street, like you say, street credit
Speaker 1: or hood credit. When you're going to do something on consignment,
Speaker 1: that's what that's credit. When you get a deal from
Speaker 1: a label, that's what that's really credit. You gotta pay
Speaker 1: that back what they call it an advance. Yeah, that's
Speaker 1: they But so we've been using credit all the time.
Speaker 1: We just again that's why I say it's really been
Speaker 1: uh they've they've conditioned us to look at that level
Speaker 1: of credit as it being negative. Because once you understand
Speaker 1: how that credit can be leveraged, as I often talk
Speaker 1: to people about it, it opens up so many doors.
Speaker 1: They don't want us to know that side of it.
Speaker 1: So let me give you a scenario. Here. We have
Speaker 1: consumer WI A who wants to buy a car, and
Speaker 1: consumer A has a let's say seven credit score. Consumer
Speaker 1: B wants to buy a car. Consumer B has a five,
Speaker 1: which is which is which is horrible? Right? So you
Speaker 1: got bad and then you got work good? Yeah, okay, okay,
Speaker 1: So they both go in to buy a car. What's
Speaker 1: the difference in uh in interest rate and the amount
Speaker 1: of money that one might be like it to put down? Right?
Speaker 1: So consumer A you go to the dealership, good credit,
Speaker 1: You're probably not putting any money down. You may get
Speaker 1: an interest rate anywhere from zero percent to maybe three,
Speaker 1: which means you have more purchasing power. So now consumer
Speaker 1: A can go to the dealership and get a vehicle
Speaker 1: let's say thirty grand and their payment and don't quote
Speaker 1: me on this, so don't be in my d MS people. Uh,
Speaker 1: their payment maybe let's just say five hundred bucks. Okay,
Speaker 1: Consumer B goes bad credit, he's off top, have to
Speaker 1: put down ten tot period. On top of that, your
Speaker 1: interest rate is gonna be and the term of the
Speaker 1: loan is going to be shorter. So for that same
Speaker 1: thirty tho allar vehicle, your payment maybe eight hundred bucks.
Speaker 1: And you came out and you came out of pockets.
Speaker 1: See that's what I didn't get earlier on. You know,
Speaker 1: like when you start adding that money up over the years,
Speaker 1: and then you you really start, if you're honest with yourself,
Speaker 1: you really start feeling dumb, right, real talk. And so
Speaker 1: for me, when I finally got mine together, man, I
Speaker 1: mean it was like it's like being born again. It's
Speaker 1: night and day different. When you got walk different, man, Yeah,
Speaker 1: you and you walk into the places. See back in
Speaker 1: the day, I would just walk in and because I
Speaker 1: had the money, you know, I was still walk in
Speaker 1: with a certain type of attitude because I know I
Speaker 1: could buy whatever I wanted. So you, no matter what,
Speaker 1: a lot of businesses, man, I'm talking about major businesses
Speaker 1: that that that money didn't come out of their pocket
Speaker 1: actually take our loans. They actually had decent credit to
Speaker 1: take our loans to build this hotel or a body
Speaker 1: a body's call out or whatever. Like, you have to
Speaker 1: have credit. Percent of the top five Fortune five companies
Speaker 1: use credit. And that's because that's because people don't understand.
Speaker 1: It's term called structured debt is something as we talk about,
Speaker 1: meaning people see, we just get conditioned to think, Okay,
Speaker 1: it's gonna cost me X amount of dollars to buy that,
Speaker 1: but I have to use debt to buy that. I
Speaker 1: don't want them to do with that, not knowing that
Speaker 1: understand that debt is now an asset that's making me
Speaker 1: ten percent on the money that I have to borrow. See,
Speaker 1: we don't understand how money work in the community. We
Speaker 1: just understand the word debt, not knowing that there's good
Speaker 1: debt and bad debt, it's called structured debt and unstructured debt,
Speaker 1: and a black community were only familiar with unstructured debt,
Speaker 1: meaning we go buy a house we can't afford. We
Speaker 1: go buy a car that we can't afford to impress
Speaker 1: people who don't like us. Never mind me, I'm looking
Speaker 1: up something, right, Yeah, So that's that's why people don't
Speaker 1: understand that. So yes, So one, when when an investment
Speaker 1: team goes and purchase a hotel, they're not using cash,
Speaker 1: they're using credit. Question when you go to clean credit, like, well,
Speaker 1: what's the process? Like you've seen your ship and then
Speaker 1: the people send your left back saying what do you do? Well,
Speaker 1: first of all, you first of all understand it is
Speaker 1: a process. And I have to tell people that because
Speaker 1: how long is that process? It can vary. Like I said,
Speaker 1: it took me two years. We've helped some people was
Speaker 1: taking them three or four months. Everybody's scenario is different
Speaker 1: because it depends on the type of that you have,
Speaker 1: the amount of debt. I mean, if you've been living
Speaker 1: with bad debt and bad credit for thirty years, it's
Speaker 1: not gonna happen overnight. It could take a while. I
Speaker 1: mean We've seen people who have seventy tho dollar repossession
Speaker 1: vehicles from BMW that may take eight months to to
Speaker 1: fight them, and how you fight them. So you just
Speaker 1: keep me on the letter she didn't mind, actual didn't manage,
Speaker 1: and then just say so when a debt is sold
Speaker 1: to a third party company, by law, they can't collect
Speaker 1: from you. By law, they're not they can't collect. And
Speaker 1: so on top of that, there are things put in
Speaker 1: place per the Fair Credit Reporting Act that means that
Speaker 1: that debt also has to be reported accurately. So let's
Speaker 1: just say a company A says, all right, Brad, you
Speaker 1: owe us five hundred bucks, but on the credit report
Speaker 1: it says five and twenty three dollars. They have to
Speaker 1: prove the debt down to the penny, and if they
Speaker 1: can't prove the debt down to the penny, they have
Speaker 1: to remove it when you challenge the validity of the
Speaker 1: accuracy of how it's being reported. That's one to the
Speaker 1: last dat of activity has to be accurate. That means
Speaker 1: the last time that money has been transacted on me
Speaker 1: making a payment on that debt. If the information isn't
Speaker 1: congruent on all three credit be roles, on Experience, Equifax
Speaker 1: and Transjunior. That's a discrepancy. So now you have to
Speaker 1: prove to me, as the creditor or the credit bureau,
Speaker 1: that that information is being reported accurately across the board.
Speaker 1: And if not, when I challenge it, you have to
Speaker 1: remove it. If you can't prove to me that you're
Speaker 1: reporting it accurately, well it's not because it shows me
Speaker 1: three different last dat of activities on this particular account
Speaker 1: on my credit report. And so the power is in
Speaker 1: the credit report. It holds all the all of the answers.
Speaker 1: But we have to first of all, we gotta understand
Speaker 1: it may cost you some money to get your credit report.
Speaker 1: So when people so when people say, what's the first thing?
Speaker 1: Some people don't want to pay for the credit report?
Speaker 1: What's the what? What? What's what? What? What's the typical
Speaker 1: number for um getting your credit uh fixed? How much?
Speaker 1: How much? Does it depends on how much damage it
Speaker 1: can it can it can arrange. But but this is
Speaker 1: this is how I'll put it though, because some people
Speaker 1: are like, Okay, let's just say a company charges five hundred.
Speaker 1: You have company B charges a thousand, you have companies
Speaker 1: C charges hundred. I noticed lady. And this was about
Speaker 1: oh seven, eight years nine years ago, and I was
Speaker 1: trying to get my clip my credit um uh fixed
Speaker 1: and she charged me thirty five hundred bucks. Right, and
Speaker 1: she didn't do anything. It's a lot of a lot
Speaker 1: of them out there. Her name is Tammy and she
Speaker 1: ran off of my money. It's a lot of that unfortunately. Yeah,
Speaker 1: before you were so rudely interrupted, man, go back to
Speaker 1: that A B C. Before you know, I didn't brad
Speaker 1: spad after show right many something. Really you're thinking that
Speaker 1: sad to box you. What the word did you use
Speaker 1: for me, Willie just just a few minutes ago. He's incorridgible.
Speaker 1: We got to look that up. So you have to
Speaker 1: say big words in front of my grandmother. She used
Speaker 1: to say incordgible. Spell it. That's when you pull out Siri.
Speaker 1: Spell that. So you have So you have company A
Speaker 1: B and C. Once our five hundred, one charge of thousand,
Speaker 1: once our hundred. Now a person can get to companies
Speaker 1: see that charge fifteen hundred and they're like, hundred, that's
Speaker 1: a lot and our all. Because I also teach people
Speaker 1: in the credit space legitimate companies, not people just gonna
Speaker 1: run off how to build up their business. Undred subject
Speaker 1: You can't say it's expensive, it's subjective. Here's why could
Speaker 1: you put a value on someone who is able to
Speaker 1: help you clean up your credit. And you may have
Speaker 1: ninety thousand dollars worth of debt. I would rather pay
Speaker 1: fit If I had to pay fIF ten times, it's
Speaker 1: still less than me spending ninety thousand to pay all
Speaker 1: the debt back. And even if you pay all of
Speaker 1: that back, it's still on your credit. So the price
Speaker 1: point is subjective. Now, it also can depend on what
Speaker 1: else comes with it. See, when we work with people,
Speaker 1: we're also going to educate them. Six people who get
Speaker 1: their credit fixed usually end up back in the same
Speaker 1: position because they don't understand how credit works, what makes
Speaker 1: up your credit score, how to maintain it, etcetera, etcetera.
Speaker 1: So and so, even as a consumer, when I, you know,
Speaker 1: go and consume other people's products and services, I'm never
Speaker 1: barking at their fee as long as I know the
Speaker 1: value is there. So I look for value, and that's
Speaker 1: how I determine point. No, you're looking for me, I
Speaker 1: know I got a hold of totally totally different things
Speaker 1: that I want to help. Okay, this, this is this
Speaker 1: is what I want to know. Um, this is what
Speaker 1: I was looking at on my phone. Okay, I googled
Speaker 1: what does the Bible say about debt? And uh in
Speaker 1: Proverbs seven says the rich rules over the poor and
Speaker 1: the borrower get to that and the borrower is the
Speaker 1: slave of the lender. A lot of people, I do believe,
Speaker 1: hear this and they say, well, I don't want to
Speaker 1: bar because the Bible said it's bad. And what do
Speaker 1: you say to that? So first of all, well they say,
Speaker 1: face what faith without works is dead. Faith without work
Speaker 1: is dead. So that may be your faith, But if
Speaker 1: you're trying to go buy a house, you still gotta
Speaker 1: borrow money. M hmm, period, No down about that. And
Speaker 1: so you know what, the Bible also says, forgive us
Speaker 1: forgive our debts as we forgive out that. You know.
Speaker 1: That's the thing about the Bible is that it could
Speaker 1: be interpreted. One thing could be interpreted in multiple ways.
Speaker 1: They're talking about having slaves in the Bible. Yeah, So
Speaker 1: I mean I think a lot of times people use
Speaker 1: the Bible they based on the situation that they and
Speaker 1: whatever convenient for the situation. That there is no agree
Speaker 1: because here's the other thing. Even to that will, there
Speaker 1: are pundits out there who teach people that credit is bad.
Speaker 1: But here's the thing. They don't look like us, the pundits,
Speaker 1: they like Melani. And so the thing is, I tell people,
Speaker 1: you have people who who are not in our position
Speaker 1: in life or in our journey, who is telling us
Speaker 1: not to be able to use something that can help
Speaker 1: us to create wealth for our community. So here's an example,
Speaker 1: the wealth gap between blacks to whites. The average white
Speaker 1: family wealth is about a hundred and eighty nine thousand.
Speaker 1: The average black families wealth is twenty four thousand. Do
Speaker 1: you hear that? I didn't think that maybe a little higher.
Speaker 1: It may be less than four thousand. We like it's
Speaker 1: the lifespan of the wealth, and it may be a
Speaker 1: little less. But here's the thing. How do we close that?
Speaker 1: It starts with homeownership? Because here's the thing, and again
Speaker 1: you have these pundits who teach our people in our
Speaker 1: community that owning a home is bad at But the
Speaker 1: wealth can start with owning the home because when you
Speaker 1: own a home, wealth do you accumulate? You accumulate equity, right,
Speaker 1: and then when it's timing, dump you get the money
Speaker 1: at a period that's tax free. Right. So that's why
Speaker 1: I say it's a genocide against our community that they're
Speaker 1: teaching us that credit is bad. All of these things
Speaker 1: are bad, but it's the easiest entry point to creating wealth.
Speaker 1: You go buy a house at so nineteen years old
Speaker 1: and start building. Period, because they don't want to catch
Speaker 1: you up. Period. I got it, because they're teaching their
Speaker 1: children this at a young age. On average, black men
Speaker 1: earned eighty seven cents for every dollar a white man earned.
Speaker 1: Hispanic workers had the next largest gap, earning ninety one
Speaker 1: cents for every dollar earned by a white man. I'm
Speaker 1: trying to get to the wealth. They don't print those numbers.
Speaker 1: The medians salary of a white man, and our sample
Speaker 1: is seventy two thousand, nine hundred dollars. They controlled median
Speaker 1: pay for black or African American men. It's that's seventy
Speaker 1: one thousand, five hundred dollars. Okay um. I think it's
Speaker 1: some of those other numbers here. What were you saying,
Speaker 1: Hispanics are paying Hispanics black people, Well, they're they're well,
Speaker 1: they're earning less. I means it doesn't say that they're
Speaker 1: being paid. It's just like what they're earning. That could
Speaker 1: that could be a combination of people that's imployed and
Speaker 1: who are self employed, Uh typically paying about that that
Speaker 1: that that that that that that Well, we know that
Speaker 1: a's a gap. Put it like that and we know
Speaker 1: there's a gap that needs to be closed. We do
Speaker 1: know that the gap is war and you can start
Speaker 1: with homeownership. But they preached to our they come to
Speaker 1: our communities and tell us home ownership is a is
Speaker 1: a liability and how and listen, as important as home
Speaker 1: ownership is, um how feasible is it for the average worker?
Speaker 1: You all know what's so crazy? Will it's easier to
Speaker 1: qualify for a home than a credit card? Wow, it
Speaker 1: is easier to qualify for a home than a credit
Speaker 1: card a couple of reasons. One home is collateralized, so
Speaker 1: the bank is more privy to give someone the house
Speaker 1: versus a line of credit that's uncollateralized. It's unsecured, meaning
Speaker 1: if I default on this credit card, I have nothing
Speaker 1: to attach it to. Not necessarily, No, that's not true.
Speaker 1: They just can send you a letter and potentially sue
Speaker 1: you for the debt, but for the house. If you
Speaker 1: default on the house. I can come and take it
Speaker 1: for you and then resell the house to Will, maybe
Speaker 1: at a discount, as long as I break even as
Speaker 1: the bank. Secondly, your credit score. You can purchase a
Speaker 1: house some lenders as low as a five eighty credit score.
Speaker 1: Now your interest rate maybe a little higher, but it's
Speaker 1: not to the tune of like something outrageous. But you
Speaker 1: also have programs like NAKA that's out that it helps
Speaker 1: that helps people with their down payment, where you don't
Speaker 1: even have to pay a down payment nothing. You you
Speaker 1: go basically go through a program you know, and and
Speaker 1: you have to have a job, you have to have
Speaker 1: some rental history, and you can get into your own
Speaker 1: home for no money down and so it's extremely feasible.
Speaker 1: We just don't know this stuff exists because we've been
Speaker 1: told home ownership is bad, that we come up with
Speaker 1: things like, oh, I don't want to own a home.
Speaker 1: It's gonna cost me more money. No, it's actually less
Speaker 1: to own a home. Like I have properties where I've
Speaker 1: invested back in Milwaukee, Wisconsin for forty dollars and I'm
Speaker 1: charged than for rent and they've been living there twenty years.
Speaker 1: They could have bought that the property and their mortgage
Speaker 1: would have been three hundred dollars, right, you see what
Speaker 1: I'm saying. But we've been so conditioned because we don't
Speaker 1: understand just the basic dynamic of credit finances, et cetera. Right. Well,
Speaker 1: I think it's important for us to not generalize, but
Speaker 1: to say that some of us don't understand, you know,
Speaker 1: but because because I want us to understand it, right,
Speaker 1: you know what I'm saying. And these cocktails and credit, Yeah,
Speaker 1: meetings and events that you have around the country very popular.
Speaker 1: I know that I've seen many of them on online,
Speaker 1: and I know you do a lot of that stuff
Speaker 1: with uh, with Jay Morrison. These I actually do by myself. Okay, okay,
Speaker 1: you you do the cocktail and credit. You do the
Speaker 1: cocktails and credit exclusively. But what do you do with
Speaker 1: Jake Uh? We actually are no longer. We don't do
Speaker 1: any partnerships together. Okay. But y'all used to do what
Speaker 1: they were called the corner class. The corner class to
Speaker 1: go out on the streets, uh, in the hood and
Speaker 1: do a free workshop teaching understand hundred people just out
Speaker 1: there on the block and listen. I don't know how
Speaker 1: they did it because I don't know, how do you
Speaker 1: get the attention to that many people on the block
Speaker 1: and people just listening on the block. I mean, it's
Speaker 1: the hell of a thing. But but okay, so let's
Speaker 1: go back to the Cocktails and Credit. What is that
Speaker 1: like when somebody comes to a cocktails and credit event?
Speaker 1: What do they expect so to to To answer that question,
Speaker 1: let me even break down the premise of why I
Speaker 1: put it together, because when I first started trying to,
Speaker 1: um uh, you know, pitch that concept, people didn't get it.
Speaker 1: They're like a bar learning about credit. Now I just
Speaker 1: want to turn up, you know what I'm saying. But
Speaker 1: here's the thing, and this goes back to that hustle
Speaker 1: and drive in that determination. I don't quit if it's
Speaker 1: something that I believe in. And one of the things,
Speaker 1: one of the many things that I've learned just on
Speaker 1: my journey, people love entertainment. People also love to be educated,
Speaker 1: especially us. We like information. We just have to make
Speaker 1: sure the information is palatable for us to like. And
Speaker 1: so I put together the Cocktail and Credit almost kind
Speaker 1: of like a networking event. So we're going into a
Speaker 1: bar or a lounge. We try to find a black
Speaker 1: owned establishment because we want to support the community. And
Speaker 1: then we do these events where we're teaching people about credit, finances,
Speaker 1: real estate, entrepreneurship, cryptocurrency, stock We talk about various different topics,
Speaker 1: and when people come there, they're really coming to learn
Speaker 1: something about any one of those various topics. They're coming
Speaker 1: for the networking aspect, and people just want to come
Speaker 1: into an environment where it's just not all turn up,
Speaker 1: you know. I'm mean. I've had people come to these events.
Speaker 1: They've met their their future bay. I've had people come
Speaker 1: to these events and meet their their potential new business partner,
Speaker 1: or come there spark an idea and go out and
Speaker 1: start their own events center, start a new business, or
Speaker 1: just learn new information about my company, of our products
Speaker 1: and brands and services, and now a year or two
Speaker 1: later put themselves in a different position. So people come
Speaker 1: for various reasons. I think a lot of it is
Speaker 1: the branding we've put together, the following that I've built
Speaker 1: over the past five six years, the reputation, and then
Speaker 1: of course, you know, we make it fun. It's not
Speaker 1: just some boring networking event where you're just passing our cars. No,
Speaker 1: we're gonna have fun there too. Yeah, you do that
Speaker 1: thing on Instagram to on Fridays. Oh yeah, the the
Speaker 1: FCO Fridays. My schedule been so crazy, I haven't been
Speaker 1: able to do that. Uh yeah, just lately been traveling
Speaker 1: the country and educating. And I do all of this
Speaker 1: for free, you know, I fly my team out, I
Speaker 1: pay for the venues, and I'm not even charging people
Speaker 1: to come to the cocktails on credit. Right, So, but
Speaker 1: but but the idea is that when they do come,
Speaker 1: they can see the value in the seri that you
Speaker 1: provide and perhaps you eventually yeah, right, and so it's
Speaker 1: a long term play. Yeah. So when it comes to uh,
Speaker 1: young people, how young should a person be when they
Speaker 1: m when they start like working on their credit, like
Speaker 1: like really concerned about the Well, I won't necessarily say
Speaker 1: the reason why I'm not saying concerned about their credit
Speaker 1: is because I know part of that answer is young
Speaker 1: people may not even be know what, no anything about
Speaker 1: They don't even know they might they may not even
Speaker 1: they may not even they may not even be talking
Speaker 1: to something right right, they may be in second grade.
Speaker 1: But but I know that a lot of times that
Speaker 1: that that parents can take the lead. So I held
Speaker 1: parents who have children at the age of thirteen and
Speaker 1: start building their child's credit because young gest thirteen, because
Speaker 1: and and and and and building their child's credit at
Speaker 1: thirteen don't mean putting there. You know that's the child, right,
Speaker 1: So we're talking about literally getting them positioned for adulthood,
Speaker 1: because the greatest gift you can give a child when
Speaker 1: they turn eighteen is a gift of them having financial literacy,
Speaker 1: that they're educated, because if they decide to go to college,
Speaker 1: they're not gonna go get that credit card and burn
Speaker 1: through it. They're not gonna go and buy a vehicle
Speaker 1: to put themselves upside down in negative equity in a
Speaker 1: vehicle they can afford. Or they can go and rent
Speaker 1: their first department. They can go buy a vehicle without
Speaker 1: the parents co signer. And so when you start instilling
Speaker 1: those type of values into your teenage I call them airs,
Speaker 1: don't say children, because when you think of them being
Speaker 1: your heirs, you want to leave them something. Um. They
Speaker 1: just become much more productive and which we're actually seeing
Speaker 1: a lot of the millennials are coming out to my
Speaker 1: events and they're hungry. They're like, Yo, this whole thirty
Speaker 1: years working for somebody for a pitch no that I
Speaker 1: need I need to learn something different, And so a
Speaker 1: lot of them get it. They're they're they're activated at
Speaker 1: a at a much younger age because they see that
Speaker 1: what our parents, parents have been teaching us doesn't work.
Speaker 1: That that path to go to school, get good grades,
Speaker 1: to get a good like that path doesn't work. That's
Speaker 1: why I dropped out of college because I saw the
Speaker 1: destruction I was heading towards, just the debt trap of
Speaker 1: college and some of these other things without really being
Speaker 1: educated on looking at it as a business decision. That's
Speaker 1: what that leads me to my next question, how does
Speaker 1: a student aid and financial aid effect one's critic it's
Speaker 1: it's I call it a debt trap. And so my
Speaker 1: my parents who have children who are getting ready to
Speaker 1: send their airs to college, I tell them sit down
Speaker 1: and talk to them and make it a business decision. Meaning,
Speaker 1: if you're going to school to be UH computer programmer. Okay,
Speaker 1: so if we take the average UH tuition for a
Speaker 1: four year institution to go to be a computer programmer,
Speaker 1: you may come out spending about eighty You can go
Speaker 1: to an eighteen month certification program and spend five thousand.
Speaker 1: Why do you need a four year degree to go
Speaker 1: and get a certify and information that's gonna be outdated
Speaker 1: by the time you graduate, so now you gotta go
Speaker 1: back and get an even more debt, you know. And
Speaker 1: so we start telling teaching the parents to understand and
Speaker 1: look at the college decision as a business decision. Now,
Speaker 1: if you're going to be an attorney, that's different. You're
Speaker 1: gonna be a doctor something specialized, but that's d different.
Speaker 1: But I don't need I'm not sending my kids to
Speaker 1: school to get a you know, water basket weaving degree.
Speaker 1: It doesn't do it doesn't even translate into the real
Speaker 1: world in real society. So the debt trap of college
Speaker 1: can be catastrophic because then once you graduate, you're a
Speaker 1: hundred plus thousand and student loan debt. Now your debt
Speaker 1: to income ratio is upside down. So now you can't
Speaker 1: buy a house, uh you you you you probably can't
Speaker 1: find gainful employment to even uh calculate with inflation. So
Speaker 1: now you're living in subpar standards of what you thought
Speaker 1: you were gonna be living at. So it just becomes
Speaker 1: a debt trap. I mean, it's it's it's it's really
Speaker 1: hurt our community. The most because we've kind of made
Speaker 1: college the prize. How do you get people to understand that, Okay,
Speaker 1: now that you're here and I got you and I
Speaker 1: got you straighten out, you finally finally straight Is there
Speaker 1: a certain method that you use to like really like
Speaker 1: drive home that look, you have to keep this going.
Speaker 1: Is that something that that you do You have any
Speaker 1: tools in place or do you just strictly count on
Speaker 1: them being mature enough to say, I gotta make sure
Speaker 1: I don't mess my credit up again. Great question. So
Speaker 1: one of the things I believe in. There's a famous
Speaker 1: Mark Twain quote that says, I never left school and
Speaker 1: getting away of my education. So we have programs. My
Speaker 1: company has programs where we offer continual education. One of
Speaker 1: them is my full time CEO program, which is almost
Speaker 1: like college for entrepreneurs, and we teach various things on credit.
Speaker 1: I mean, we just did a class last week on health,
Speaker 1: health and wealth and so yeah, So to answer your question,
Speaker 1: we do have different things to help you to maintain
Speaker 1: because here's the thing about like this whole wealth kind
Speaker 1: of engine that you know, we've we've assimilated within my company.
Speaker 1: It's like it's almost like with church or when you're
Speaker 1: going to motivational workshops out of site, out of mind,
Speaker 1: you have to stay engaged to stay activated a lot
Speaker 1: of times unless you're self motivated, which statistically very few
Speaker 1: people are just driven to that level of degree. And
Speaker 1: so we keep things in place, like my full time
Speaker 1: CEO to keep you engaged so that you can stay activated.
Speaker 1: Because here's the thing. You can go to your religious
Speaker 1: place of worship, you can go to that uh motivational workshop.
Speaker 1: Within seventy two hours, you're back living the way you
Speaker 1: went in. So you have to stay engaged. And so
Speaker 1: when you're not being educated on why credit is important,
Speaker 1: it's very easy to go back home to your negative
Speaker 1: you know, circle, and they say, man, that credit shit again.
Speaker 1: So there now yourself consciously you're like, yeah, man, this
Speaker 1: probably this ship don't probably work anyway. So you have
Speaker 1: to stay engaged, which is why I do the cocktails
Speaker 1: and credit, why I do my you know, uh full
Speaker 1: time CEO program, why I'm always going live and it
Speaker 1: really just my focus is really just continually inspiring people
Speaker 1: because here's the thing of our world is based around
Speaker 1: negativity because it sales, and so it's very easy to
Speaker 1: get trapped up in the mindset of not wanting to
Speaker 1: do right because the biggest minority on this planet is winners,
Speaker 1: and to be a winner, you gotta be around winners
Speaker 1: constantly period. You know, why do you think the music
Speaker 1: industry is a small fraternity because you gotta be a winner?
Speaker 1: Thing with these bosses, you know, holds not letting somebody
Speaker 1: who are not winning sitting at the table, So why
Speaker 1: should we want so? So so we have to stay engaging.
Speaker 1: That's why I do what we do because I want
Speaker 1: people to leave always feeling like they can be a winner.
Speaker 1: How is it is it for somebody to just like
Speaker 1: come to you or anybody who repairs credit with a
Speaker 1: thousand dollars and say, okay, fix my credit and they
Speaker 1: take that after you do you fix the credit and
Speaker 1: then they go out and get maybe a dollar alone
Speaker 1: without a job. Is that possible without able It's very
Speaker 1: possible without a job. You can get your credit fixed
Speaker 1: with no job and go out and get a thirty
Speaker 1: dollar long So let's let's let's use the correct term though.
Speaker 1: So there's a difference between loans and then revolving unsecured credit.
Speaker 1: So to go get a loan that could be a
Speaker 1: stretch without a job because they're gonna ask for certain paperwork.
Speaker 1: But I can help someone get in position and they
Speaker 1: can go and get a line of credit for because
Speaker 1: and what a line of credit is so alone is
Speaker 1: you go to the bank and you're asking for a loan,
Speaker 1: meaning you want twenty dollars. I'm gonna write you a
Speaker 1: check and put twenty dollars in your hand in your
Speaker 1: bank account, et cetera. A line of credit. You go
Speaker 1: to the bank asked for a line of credit, and
Speaker 1: they're gonna give you a credit line that's unsecured and
Speaker 1: uncollateralized where you can draw off of that money, so
Speaker 1: you don't get the whole twenty in your hand. Now
Speaker 1: here's the benefits of why I like the line of
Speaker 1: credit more. Okay, First of all, I only pay you
Speaker 1: against what I borrow. See, if I give you a
Speaker 1: twenty long you gotta start paying back against the whole twenty.
Speaker 1: You may not even have a particle to be able
Speaker 1: to service the debt on twenty right away. But on
Speaker 1: a line of credit, I give you twenty thousand as
Speaker 1: a line of credit, you may only need a thousand
Speaker 1: dollars right now. So now you're only paying back against
Speaker 1: a thousand and because you can use stated income household income.
Speaker 1: So yeah, you may not necessarily work or have a job,
Speaker 1: but your spouse may work, so you can use household
Speaker 1: income to apply for that revolving credit. Explain the difference
Speaker 1: between stated income and household income. Yes, so stated income
Speaker 1: would be like projected income. So let's say you um
Speaker 1: are planning on starting a business, okay, and you apply
Speaker 1: for a business credit card that allows you to use
Speaker 1: stated income, and banks have what I call stated products.
Speaker 1: If you pick up the phone, call to bank and say, hey,
Speaker 1: I want to apply for a credit card. Whatever, do
Speaker 1: you use stated income, resupply of the time will say yes,
Speaker 1: stated income, which means I can state my projected income.
Speaker 1: Household income mean I can use the combined income of
Speaker 1: everyone working within my household. So I may not work,
Speaker 1: but I have a spouse and a teenager who works.
Speaker 1: I can use that household income on the application. And
Speaker 1: typically on the application there's a slot that says household income.
Speaker 1: So let's just say I want to state that I
Speaker 1: may yet, uh, people have done that. People have done that,
Speaker 1: and I get a loan. There's other factors. What are
Speaker 1: what are some of the factors that they would consider
Speaker 1: denying me the revolving definitely. Well, you may owe other banks.
Speaker 1: You know, they have systems out there called check systems.
Speaker 1: Meaning let's say there's five banks in your neighborhood, you
Speaker 1: owe three of them. Okay, you can still have a
Speaker 1: seven fifty credit score. Well, guess what. Banks have gotten
Speaker 1: sophisticated because they know people burn banks all the time,
Speaker 1: so they may go pull the bank system which does
Speaker 1: not show on your credit report. There's a system called
Speaker 1: check systems on everybody to go and look up check systems.
Speaker 1: You may be in check systems from ten years ago
Speaker 1: and may not even know. So the bank pull check
Speaker 1: systems and say, oh, Dawn, you owe bank one, two
Speaker 1: and three x amount of dollars. We're denying your application
Speaker 1: and you may not even know why. This is why
Speaker 1: I tell people, if you get denied, ask why, so
Speaker 1: you could fix it. So that could be a reason
Speaker 1: to your income is too low. Yeah, you may have
Speaker 1: put stated income, but based upon your debt that they
Speaker 1: see that you already have, the income may not be
Speaker 1: able to suffice the to cover for the amount of
Speaker 1: credit that they would typically lend you. So on average,
Speaker 1: for every thousand dollars of discretionary income, they can approve
Speaker 1: you for up to five thousand and available credit. So
Speaker 1: let's say your your income is five thousand a month,
Speaker 1: but you're your expenses every single month is that's only
Speaker 1: a hundred dollars in discretionary income. So they may deny
Speaker 1: you because they're gonna say, well, how will will pay
Speaker 1: us back every month? Henley has a hund very stretched
Speaker 1: or in the finance world they call it overleveraged, and
Speaker 1: you may have uh seven nine credit score, so there
Speaker 1: are several factors. It's bigger. That's why I say it's
Speaker 1: bigger than credit. And this is this type of stuff
Speaker 1: that I'm teaching people because people assume, hey, I got
Speaker 1: a good credit score, why is the bank denying me?
Speaker 1: And so this is where that information gap comes in,
Speaker 1: that which often say that the thing that separates wealthy
Speaker 1: from unwealthy one of them is information. We don't know
Speaker 1: enough about enough. Man, what's there? Four time CEO? So
Speaker 1: this is actually my brand, So we can go to
Speaker 1: the website. It definitely, but that's a dope name. I
Speaker 1: can see every single entrepreneur and and and aspiring entrepreneur.
Speaker 1: Uh do that? You know, I want to want to
Speaker 1: wear something like that or even you know, like all
Speaker 1: our CEOs are not owners, but just I mean see
Speaker 1: they do call shots, so they are bosses. And I
Speaker 1: often say it's more of a mindset. Yeah, because you
Speaker 1: can be uh you could own your own company and
Speaker 1: your mindset fuck up. You still not be a four times,
Speaker 1: Right're not a full time That's a good point. So
Speaker 1: it's it's really it's just like the fake it just
Speaker 1: like it's like throwing up money in the club. You
Speaker 1: know what I'm saying, that's really how you got You
Speaker 1: know what I'm saying, You're gonna throw it up in
Speaker 1: the club. Yeah, right, go get a couple of hundred
Speaker 1: dollars and just don't make you know a week and
Speaker 1: another level they did and and speaking of faking it
Speaker 1: until you make it, Uh, what are some of the
Speaker 1: no knows? When you do get your credit repair? Once
Speaker 1: you got your credit, you're healthy, you're ready to go.
Speaker 1: What are some no knows that you would tell people
Speaker 1: right off the back, because I know a lot of
Speaker 1: times people get the credit repaired and they want to
Speaker 1: go to make large purchases right off top yeah, so
Speaker 1: what are some no knows? Well, that's definitely one of them.
Speaker 1: And that's where that unstructured debt comes in. That you know,
Speaker 1: the first thing I want to do. It's almost like
Speaker 1: when you work in a job and you get a raise,
Speaker 1: what's the first thing they want to do? Upgrade their lifestyle?
Speaker 1: Same thing with credit. You start getting in a better
Speaker 1: credit situation, Well, guess what, you still have to service
Speaker 1: the debt. And that's the part again why I educate people,
Speaker 1: because you know, people put themselves back in the situation,
Speaker 1: but then they blame it on credit. No, it's not credit.
Speaker 1: You just have fucked up money managing skills and so
Speaker 1: my past, my past, and listening to this, I'm sorry,
Speaker 1: sorry passing, we just have bad money skills and so.
Speaker 1: But this is how I have to talk to peo
Speaker 1: past because that's sometimes the only dialect we understand. And
Speaker 1: so the biggest no no is yeah, they're overleveraging themselves
Speaker 1: or um going out there purchasing the vehicle they can't afford.
Speaker 1: Like right now, the autose sales is ridiculous. People are
Speaker 1: buying I didn't even know they made this many lambos,
Speaker 1: but people have been buying Lamborghin these races, and so
Speaker 1: they're putting themselves in a in a scenario over leveraging themselves.
Speaker 1: Is that A lot of that is a lot of
Speaker 1: that has been I'm just waiting for the for them.
Speaker 1: They're definitely going to you know, I'm gonna be buying
Speaker 1: all their cars to jail. Wow. That's terrible, man, Man,
Speaker 1: I got something I want to address. Man. That's been
Speaker 1: like a burning, burning, like statement for the last sixty seconds.
Speaker 1: Why I can't have a past You don't have a pastor, Willie?
Speaker 1: My pastors Rono, Bernard Hopes, Bishop Hopes and a piece
Speaker 1: they correct stand corrected, Willie has a pastor. Clapp up.
Speaker 1: I'm talking about man. You know you know like you
Speaker 1: gotta you gotta have spiritual advising. Okay, I've been on
Speaker 1: you thirty five years, bro Stop what stop? Physical? Spiritual? Spiritual?
Speaker 1: Everybody everybody should have a spiritual Believe you had a
Speaker 1: financial you did what I'm saying that when advising? Really seriously,
Speaker 1: when did I get one? Yeah? I'm asking you. I mean, first,
Speaker 1: first of all, will First of all, don't take that
Speaker 1: long with her person. I can say you gotta know everything,
Speaker 1: but just know that I have a spiritual advisor. Go ahead,
Speaker 1: I wait for the next question. Bro, Willie, come on listen, man,
Speaker 1: you know listen, you knew what you was walking into. Man,
Speaker 1: you know this guy right here, he's a he's he's
Speaker 1: incourageable to me. I'm gonna lick that up. So so well,
Speaker 1: look who has the highest credit score in your family?
Speaker 1: They can't see me in that. Then they can't see
Speaker 1: in that category. But so well, you said, I'm delinquent
Speaker 1: and um not manageable and unruly not Sometimes you're unruly
Speaker 1: delinquent capable of being corrected. That's that's more you. Yeah,
Speaker 1: that's more incapable of being You're not reformable, man, you're
Speaker 1: not reformable. Yeah I want some too, Bro, Yeah, you're
Speaker 1: not reformable. And it's okay, it's okay. It's not your fault.
Speaker 1: You know that. That's the that's the that's what they say.
Speaker 1: This generation says everything is not your fault. This is
Speaker 1: the what is it the participation trophy generation? Like, it's
Speaker 1: not your fault, it's not your fault. I mean, you
Speaker 1: know you ate cake uh four times for the last
Speaker 1: five will you hate your body tripped out on you?
Speaker 1: But it's not your fault. Really has always hated me, No, man,
Speaker 1: I got a lot of love for you. Man, never
Speaker 1: hated on me, just never liked me. Now I got
Speaker 1: a lot of love for you, man. I mean, you know, uh,
Speaker 1: you know, it's very very hard, you know, to not
Speaker 1: like you. Man. You's just just a great guy. And
Speaker 1: and and yeah we all so. So I got a question.
Speaker 1: I just showed you something about Um, who's that somebody
Speaker 1: say that this was illegal to put like even like
Speaker 1: child support on your credit? Is that a loan? You know?
Speaker 1: That's a damn good question. So here's the thing, And
Speaker 1: this is how the credit bureau system works. It's their
Speaker 1: their private their private ties, entities, and how they make
Speaker 1: their money is by selling our information. So to use
Speaker 1: the word is it illegal, you really can't say that.
Speaker 1: I'm gonna say is it ethical? And the debt reporting
Speaker 1: process or when someone in a company, a third party
Speaker 1: company puts a collection report on your credit report, it's
Speaker 1: not that it's illegal. It could be viewed as unethical. Now,
Speaker 1: because most people don't check their credit report, they know
Speaker 1: that they can get away with it. We as the
Speaker 1: consumer has to have to force them to provide the
Speaker 1: validity on why they are reporting that information, and if
Speaker 1: it's not being reported accurately, they have to remove it.
Speaker 1: So the laws that have been put in place per
Speaker 1: the Fair Credit Reporting Act actually benefit us, which is why, Hey,
Speaker 1: you're reporting this. Proved to me this information is right,
Speaker 1: prude to me that it's accurate, Prude to me that
Speaker 1: you even have the authority to report this. And you'd
Speaker 1: be surprised. See a lot of people don't know these
Speaker 1: credit bureaus are most of them are owned by banks.
Speaker 1: You can sue them, and you'd be surprised how often
Speaker 1: they settle because they already know most of the time
Speaker 1: you're in the wrong, but we don't notice stuff, you know,
Speaker 1: talk about how people can settle with these credit card
Speaker 1: agencies banks when they have these enormous balances and stuff
Speaker 1: and maybe they can pay and maybe they can't, but
Speaker 1: the fact that they can go in and negotiate, right,
Speaker 1: they can actually negotiate. If you don't have to pay
Speaker 1: the whole balance, you can negotiate the time. Now. The
Speaker 1: first thing almost sometimes if you get if you get
Speaker 1: a really bad one, like one of those people that
Speaker 1: we're going at, sometimes they have it in like no,
Speaker 1: you must be. They're trying to get their commission. So
Speaker 1: that's all that is. But I actually have a video
Speaker 1: on YouTube that says why you shouldn't pay your collection accounts. Yeah,
Speaker 1: it was actually my first video that went viral thing.
Speaker 1: It's probably almost two million views on there now. And
Speaker 1: the reason I tell people that is, first of all,
Speaker 1: what you don't know can't hurt you, and it will.
Speaker 1: Meaning paying a collection account can drop your credit score
Speaker 1: really tremendously so on credit reports, when the debt has
Speaker 1: been sitting on your credit for a certain period of time,
Speaker 1: we call it zombie it. Okay, so let's say you
Speaker 1: have an account that's six years old that's been delinquent.
Speaker 1: You owe this company, and the debt has been delinquent
Speaker 1: for six years. You get a moral compass one day
Speaker 1: because you wake up and say, you know what, I'm
Speaker 1: gonna pay this. You know, I don't. I'm tired of
Speaker 1: being incurable. Is that the word incurrigible. I'm tired of
Speaker 1: being incorrigible, So I'm gonna pay this debt off. You
Speaker 1: pay the debt, your score drops hundred points. Really why
Speaker 1: is that? Because it goes based upon what's called the
Speaker 1: last day of activity. It's ol so a collection account.
Speaker 1: The dollar amount doesn't hurt you, it's the information. The
Speaker 1: information are based on algorithms, So what it happened is
Speaker 1: you'll pay the collection account. They updated it as a
Speaker 1: paid collection. It just see them the remember it triggers
Speaker 1: as information, So even though it's a collection and paid,
Speaker 1: it's still a collection. So because it's now been updated
Speaker 1: and looks like a brand new account, it just dropped
Speaker 1: your score. So that's why you shouldn't pay it without
Speaker 1: knowing what to do first. So if you're gonna pay it,
Speaker 1: you want to request what's called a deletion letter, meaning hey,
Speaker 1: if I pay this in full, I need you to
Speaker 1: delete it from my credit report, not updated, but deleted. Now,
Speaker 1: when it comes to settling the debt, you have to
Speaker 1: be careful because when you settle it can have the
Speaker 1: same impact as paying it, because what it happened is
Speaker 1: that it's a settle for the less than half or
Speaker 1: for less than the full balance, so it is still
Speaker 1: update and can drop your score. You can you can
Speaker 1: dispute it once you've actually created the damn again. So
Speaker 1: it could be various reasons. One um, the last dat
Speaker 1: of activity still may be inaccurate, you know what I'm saying.
Speaker 1: So it's still several parameters, the date of activity on
Speaker 1: on the last time that the information has technicality been reported. Yeah,
Speaker 1: it's all technical information. It's almost like when you get
Speaker 1: a ticket from the police officer. A lot of people
Speaker 1: don't know if you get stopped on Washington Avenue and
Speaker 1: the police officers just if they know, they could just
Speaker 1: right Washington if there's a if there's a Washington and
Speaker 1: a Washington Avenue in the city that you get stopped in,
Speaker 1: that's a technicality you can get off. Or the the
Speaker 1: caliber of the gun that they're using to clock you, right,
Speaker 1: what was the what was the caliber set at for
Speaker 1: when they clock you on speed? So yeah, it's all technicality.
Speaker 1: It's it's the it's law. It's a game of court,
Speaker 1: so it's all technicalities. Speaking of the game, what is
Speaker 1: more important? Business credit? Uh? Personal credit? If you have
Speaker 1: to pick one, I like how you framed that. And
Speaker 1: I'm gonna tell you why if you're walking down the
Speaker 1: street and it's a hundred and fifty on the floor,
Speaker 1: which won't you picking up brat h why? Both? And
Speaker 1: that was which one? But I know you said you
Speaker 1: had to, but you said which one? It don't matter? Yeah, man,
Speaker 1: good what I'm talking about? Man? You got right there. Man,
Speaker 1: you said which one? Man which you said? Which one's nobody?
Speaker 1: I didn't say you have to pick one. See Willie said,
Speaker 1: he said which one. If you would have said which
Speaker 1: do you pick up? Now, now you wouldn't be the one.
Speaker 1: They would have been both. That's the trickery. Most people
Speaker 1: still don't get that one. But I'm picking up both.
Speaker 1: So to answer your question, but if I had to
Speaker 1: pick one, I would in business credit because it gives
Speaker 1: me more reach and more leverage. Here's why. So I
Speaker 1: can go set up a company, get some credit, and
Speaker 1: then I'm ready to go buy a house. The debt
Speaker 1: on my company does not show on my personal credit.
Speaker 1: So it's kind of that own everything, I mean, own
Speaker 1: nothing and control everything type of situation. So I can
Speaker 1: have all this credit and assets under this company, but
Speaker 1: it doesn't look like I personally own it. That's one scenario. Two,
Speaker 1: I can have five companies and go to five different
Speaker 1: banks and get five different lines of credit on all
Speaker 1: five of those companies. M Yeah, and that's called leverage.
Speaker 1: So if I had to pick one. I'm gonna always
Speaker 1: do business credit first because it gives me more reach
Speaker 1: to be able to control more credit, to be able
Speaker 1: to control more assets without me personally showing that I
Speaker 1: own any of that company's name. So the first thing is,
Speaker 1: and I want to tell people this, you gotta have
Speaker 1: good personal credit. We have so many people who are
Speaker 1: trying to figure out shortcuts on how do I get
Speaker 1: all this money under market business without having a good
Speaker 1: personal credit. Every single bank is going to ask you
Speaker 1: for your personal credit to be has to be. And
Speaker 1: then on top of some of the other things, making
Speaker 1: sure your company is bank compliant, you gotta file your taxes.
Speaker 1: Let me say that again, because here's the thing. The
Speaker 1: banks want to see that you can service the debt.
Speaker 1: So they want to know, Okay, we give you a
Speaker 1: line of credit for a hundred can your company service
Speaker 1: to debt on that hundred and so they're gonna look
Speaker 1: at your net revenue. So it's it's several things. And again,
Speaker 1: these are all of the things that we teach, and
Speaker 1: we tell people the blueprint on what every single step
Speaker 1: on what you need to do. Getting the money is
Speaker 1: the easiest part. Talk about your two oh yeah out
Speaker 1: a couple. So the first one is Credit Is King,
Speaker 1: which came out in two thousand and sixteen. Uh, it's
Speaker 1: really just the credit manual I like to call it.
Speaker 1: It is probably about a hundred and twenty six I
Speaker 1: believe something like that a lot. It's I don't know
Speaker 1: the fine size, but a lot of people have told
Speaker 1: me they've taken a four hour to five hour flight
Speaker 1: and completed the book. And I wrote it from the
Speaker 1: perspective that an eighth grader can pick it up and
Speaker 1: read it. And I did that on purpose. One. When
Speaker 1: it comes to talking about credit and finances, a lot
Speaker 1: of times people get intimidated because of the vocabulary and
Speaker 1: the dialogue, dialect and all of that. So I wanted
Speaker 1: to make it extremely palatable for everybody to be able
Speaker 1: to pick up and read. To Most people comprehend on
Speaker 1: the eighth grade level, no matter what your level of degree,
Speaker 1: is an education, and so I wanted to make it
Speaker 1: easy for someone in high school to read it as
Speaker 1: well as someone who's many years we moved from school.
Speaker 1: So Credit Is King is my first book. My second
Speaker 1: book is Full Time CEO The Ship. They don't tell you,
Speaker 1: h you wrote the word that ship yes, yeah, it's
Speaker 1: interesting story. I came up with that title. I was
Speaker 1: watching UM another show on the internet, and the author
Speaker 1: on there was talking about he was writing a book
Speaker 1: and he he was talking about a book by another
Speaker 1: author that was unfuncked yourself or something like that, sorry pastor.
Speaker 1: And sometimes when people see words like that, it jumped
Speaker 1: out at them. And so I was like, you know what,
Speaker 1: I want to do something different because originally I was
Speaker 1: just gonna call a book full time CEO and I
Speaker 1: was like, that's kind of boring. What is it that
Speaker 1: we don't understand about business? I was like, the ship
Speaker 1: they don't tell you? And then first I was worried
Speaker 1: about what my mom's was gonna say, so when she
Speaker 1: proof read the book, she put questions and marked next
Speaker 1: to it. But the title does jump out at people
Speaker 1: because it really is a lot of ship that they
Speaker 1: don't tell you about the journey of being an entrepreneur. Yeah, yeah,
Speaker 1: how can people get intut with to man? It's been
Speaker 1: a very spirited conversation. Man, we appreciate your staffing, but
Speaker 1: we know you got an event in town, but how
Speaker 1: do you how do you? How do people get get intu? Yeah?
Speaker 1: So all social media platforms at Mr will Rowntree, Instagram, Facebook, YouTube, LinkedIn.
Speaker 1: I mean yeah, I mean I'm very accessible. I respond
Speaker 1: to my messages, my comments and uh and of course
Speaker 1: you know I'm probably pulling up in a city near you.
Speaker 1: So we got a couple more. We got a couple
Speaker 1: more stops pull up, O man got his whole little
Speaker 1: brandf mat, I got these pull up on the hats
Speaker 1: and putting into the hats out and stuff. I'm gonna
Speaker 1: get you, um uh uh to do some credit stuff
Speaker 1: for for some people I know and myself included. But
Speaker 1: the cool thing about it, like I was saying earlier,
Speaker 1: was that, bro, I'm like educated about credit now like
Speaker 1: and so it's like if I see my score, man,
Speaker 1: if if when I get an alert, you're probably calling me, Well,
Speaker 1: I'll call. I'll call you if like, if it's if
Speaker 1: I lose about a good six or seven points or something,
Speaker 1: then I'm calling. But you know, but I'm telling you
Speaker 1: when I lose one point, if it dip, if it
Speaker 1: said your credit score has decreased, I'll be like, Man,
Speaker 1: I get mad, bro, Like I don't, I don't care.
Speaker 1: If it's one point, I get mad, I'm like, I
Speaker 1: want to call somebody, but I don't really know the call,
Speaker 1: so that's why I called. Well, So, yeah, I want
Speaker 1: I wanna change some stuff about my credit because I
Speaker 1: know for a fact, um uh my, my interest rates
Speaker 1: are not as low as they should be. You know
Speaker 1: that can that will motivate you. I want to get
Speaker 1: some three percent interest rates and I'm probably had a
Speaker 1: six or something like that. That's it's beautiful when you've
Speaker 1: been like me. Like I said, even though I've had
Speaker 1: the money, I've never had good credits. So I go
Speaker 1: in and I'm paying premium. I'm payings, you know, twenty
Speaker 1: two points for a car. You know what I'm saying.
Speaker 1: When we got that blazer, Man, when we first started off, man,
Speaker 1: we had a blue Blazer point and you could not
Speaker 1: tell Willie nothing? He man, what was your what did
Speaker 1: you buy? What was that a BMW? What was that
Speaker 1: you about? I wrote with you, Willie? That I wrote
Speaker 1: with you, Willie, okay, after you got the ride with me?
Speaker 1: What was that you you you bought? I had a
Speaker 1: great BMW okay, and you couldn't tell him nothing. Trick
Speaker 1: on that Brad. I paid cash for it. That's another man, well, well,
Speaker 1: and I paid cash for the blazer. Come on, we
Speaker 1: gotta always use the bank money. Was it was? I
Speaker 1: don't know dually not that dually know that. Hey man,
Speaker 1: when you know better, you do Betty and I know
Speaker 1: better about credit. Thanks to you, Man. Absolutely appreciate you.
Speaker 1: I really appreciate you coming up. Man. I know you
Speaker 1: could have been anywhere in the world. Man, but you
Speaker 1: chose to be right here with the ghetto boys reloaded. Man,
Speaker 1: this is a pleasure. Appreciate that in the room with
Speaker 1: two legends. Come on another episode in the bag. Ladies
Speaker 1: and gentlemen wheel around tree. No more talk, No mo Talk.
Speaker 1: This episode was produced by A King and brought to
Speaker 1: you by The Black Effect Podcast Network and Heart Radio.