Herman Dolce
Appearances
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
Thank you so much, Charles, for having me and trusting me on your platform. I'm here to serve today.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
One of the most important things that I've learned is how to fund your business through stacking. So what that means is, say, for instance, I remember when I started doing it, people were like, well, how'd you get one person $150,000 in like two weeks? And I have the book right here. I'm going to go grab it for you in a second. And it talks about how I will go to like American Express.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
And I will get $20,000 from them, $25,000. I have good credit easily, right? They pull from Experian. Then I know that maybe federal credit union, they pull from TransUnion, get another $25,000 from them. Then I go to KeyBank. They pull from Equifax. That's another $25,000.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
So I just raised $75,000 in funding, 0% interest, technically one inquiry because the TransUnion bank can't see that I got an inquiry from America. American Express and vice versa. And I just maxed out as much funding as I can get. Because if I went to American Express and then I went to PNC, which pulls from Experian, they're like, oh, you just got a ding. Like you just got it today.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
You're clearly shopping. So instead of giving you a $25,000 credit card, we're going to give you a $15,000 one. So this is how I maximize how much capital that I got. And because I understood that information, I'm able to double, triple the funding that I can get from my business, use credit responsibly, by the way.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
So I got a couple of books. The first one is called the credit mastery. Um, there you go. Credit mastery. Um, it's by Ian Richards. It's a great book on how to fix your credit. The second book is by Ian. Also it's, um, developing age corporations, um, send you a picture of it. Um, and that shows you how to build your business credit.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
So my name is Herman Dulce Jr., son of Herman Dulce. I am a first-generation Haitian. My family came to this country in the late 70s. Born in Brooklyn, Philly raised me. And I'm the founder of this wonderful company called Bella Sloan Enterprises, financial literacy company first. But we primarily like to help small, medium businesses get capital and get some funding.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
And the last one, I have no affiliations, no affiliates with these guys, but they really helped my business. And the other one is 10 next. It's easier than 2X by Dan Sullivan. That book, it showed me how to think bigger with my business in regards to, I set a goal for my business. Hey, I want to have 5,000 subscribers. That was the goal. And he was like, well, why don't you make it 50?
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
And I didn't have a reason why I couldn't make it 50. So he's like, make it 50. And I was like, okay. So what happened automatically is my brain started planning and game planning for 50,000 instead of 5,000. And what happened? I tripped into 15,000 because my operations, my business, my CEO, I was like, all right, let's shoot for 50,000.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
So that's why it's easier just to change the number verbally and that'll grow your business.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
I can liken it to, I'll give you an example. When I first started my credit repair company and I was typing the letters and I was doing all that work, right? And then I realized I was capping at like $25,000 a month in revenue because my time was attached to the work I can do. So at that point, I was like, oh, I need to hire more people.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
So if I hire more people and I invest that $25,000 back into the business and I hire three people, I'm able to make $100,000 a month instead. So I try to keep that little $25,000 because I still had a nine-to-five mentality. The same thing is when it comes to funding. When you feel that you can grow if you invest X amount into your business...
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
because you've capped, that's when it's time to raise a little capital. But you have to know your numbers. So I knew my numbers before I went and got a $25,000 business credit card. And I liquidated that credit card and I used it to hire my first staff member. Like, hey, I'll give you $1,000 a month if you help me with these letters and I'll train you.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
And then within 60 days, it wasn't even 90 days, 60 days, we doubled our income. And in 120 days, we 5X'd it. And then when I saw that, I was like, oh, I'll just do it again. Right. I figured it out, got the systems in place. We got to stabilize because I didn't want to fly a plane and build it at the same time. I wanted to ensure I grew slowly. And then I put gasoline on that fire.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
I named this company after my firstborn daughter, Bella Sloan. Um, Dulce, amazing. She's, um, seven years old, um, right now. Um, and, um, you can find me on Instagram as Haitian CEO. And the reason why I say that is because I have two personalities. There's Herman and then there's Haitian CEO. Haitian CEO dances on Instagram. And that's what my daughter is.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
I grabbed another book by Daniel Parisi. It's called The Scorecard Marketing. And it talks about wait lists. And I didn't understand the whole wait list model. And then he gave the best example. The best example that everyone has seen recently is Tesla. So what, three, four years ago, Elon Musk, we had to put down $100 for a Cybertruck. And then he raised over $100 million.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
He went to the banks to be like, hey, I got $100 million. Can you give me more? And then he went and built a bunch of Cybertrucks that didn't have to be delivered for years.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
At all. So I wait list everything. Hey, I got a new product coming out. And I see what's going on with the wait list. I say, oh, the people want this product. Let's create it. Let's give it to them.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
The market will tell you what it wants. Pay attention. So if my wait list was 100 people, I'm not creating the product. If the wait list was 1,500, 2,000, I was like, all right, guys, we got work to do. Let's get the smart people in the room. Because I came up with the idea already. I'll figure it out.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
So we got the creditors together. Their profile is together. Their business has to be structured properly. S Corp, C Corp, whatever you got. These are the little dings that banks look at because I want you to think like a bank does. So when I come in, I have a real business address. It's not my home address. Right. So I have a office.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
She's a ball and a light and she's totally amazing.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
And even if you can't afford an office space, you can actually rent addresses where your mail gets sent to virtual address or a registered agent because now you look like a real business. This Bank of America want to do business or give somebody twenty five grand who offices in their home.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
right and another thing people who have their home addresses as your business address um that's actually not safe because your business is public information i can go to the secretary of state website look up bellas on enterprises and it's my home address everybody knows where i live so little things like that having a real business um email info at bellstone enterprises not bellstone enterprises at gmail you want to look legitimate and you want to look absolutely credible those are the two little things i just wanted to tell people and also have a real business website
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
Because the banks, they actually look you up while you're sitting there. Like, oh, okay, let me check out your website, see if you're legitimate. So if that looks good and it's perfect, the application process is pretty simple. They know that you're a startup. They know that you've done only $30,000 next year.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
Sometimes they'll ask you, hey, if we give you this $25,000, what does revenue look like? I project I'm going to make $100,000, $125,000 next year with this $25,000 investment. influx into my business. Okay, great. And sometimes they give you 10% of what the business has made or what the business will make up to a certain point.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
So if you say you're going to make up to 125 grand, that business credit card will probably be $12,500. Or if you're They'll see what credit cards you already have on your personal side. They're like, all right, well, he has a $25,000 personal credit card. He's done well with it. We'll bump that $12,000 card to a $30,000 card. That's how they think.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
Another thing with the application is what you put on it as what you do is important too. So yes, I have a job. But what is your title that you're putting on your business? I always tell people, put that you're the president, you're the CEO, the CIO. Don't put owner. And they're like, well, why not? I am the owner. I was like, because owners don't make any money. Right.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
So me as a president or a founder, I have a salary that I get because they're thinking, well, how are you going to pay this credit card if you're the owner? Because the owner is always what? The last to get paid. And so you get the change that's left over. So those little things, when filling out the application, actually you can leverage to actually get more capital for your business.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
Absolutely. We can walk you through that. We don't do it. Here's why we don't do it because it's so simple to do. You can go to Fiverr.com, pay somebody a hundred bucks. I promise you they'll have your email, your business website set up within three days. Or you can go and do it yourself and get it done in like two hours. Go to GoDaddy.com or Woods.com. It's very simple.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
There's nothing that we're discussing on this podcast today that cannot be done in the next 24 hours in regards to your business setup.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
Well, what a wealth ratio is, let's say for me, when I wanted to quit my job and go full-time in my business, and you said it offline, having six months of, I guess, bills saved up is a good place to start. Having a year of operating expenses for your business. But for me, when I was taking phone calls in my broom closet at work, I saved up two years. Yeah.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
Right, right, right. Being in a high risk industry and lying on the business application. All right. So yeah, that happens. So no, there's people out there, believe it or not, a high risk industry. Banks don't like to give money to like high risk industries such as real estate. So I know HGTV made it look all sexy and good, but banks hate giving that. that money to that NAICS code.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
So every industry has a code that is attached to it. Business consulting, technology, medical, they all have a code. So when you're going to the bank and they're nice and they're wonderful, oh, Herman, it's a pleasure to meet you. What do you do? What's the business? And you tell them, hey, Bellasone Academy, Bellasone Enterprises, we do real estate. They're like, oh, that's wonderful.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
And they attach a code to your business at that bank. Now, when it's time for you to go get funding, instead of you getting a $25,000 card, you're probably going to get a $7,000 card. Because in their eyes, real estate is high risk. Trucking is high risk. Carmen, what are the other high risk industries? Adult vices are high risk. Daycare, anything with transportation.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
You can Google this information, high risk industries. So those type of industries, they don't like to give funding to. That's why I have a journal named Bella Sloan Enterprises, not Bella Sloan Credit Repair.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
or bella sloan trucking um and the other thing is lying on business applications like you said banks want to give you money start slow you're trying to get 150 000 credit card or a loan from a bank And if you have to lie to get it, then you're probably not ready to get the money. So be honest with the bank. Listen, I made $30,000 last year. I'm projected to make $1.50 this year.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
What can you give me based on my credit and my business being structured properly? Herman, honestly, we can give you $30,000. Great. I'm going to turn this $30,000. And here's what the great thing. Once you spend that $30,000 and you pay it down or you pay it down half within 90 days or six months, guess what the bank is going to do? They're going to reach out to you by, hey, you're
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
doing really good with this credit card. Yeah. Would you like a credit card increase? Would you like another business credit card? Absolutely. I would love to do that because you got to prove yourself to the bank and they'll take care of you.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
of income for my household to make sure that if I didn't make any money from Bellasone Any Projects for two years, I would have that money to at least pay my bills. So I had a pretty decent FU account before I told my boss I quit.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
I give them a different fear. So everybody doesn't have to be an entrepreneur, but everybody does need to be an investor. You need to be investing in something that you're in control of. A friend of mine gave me this wonderful example. He was like, they are financial prey and they're financial predators. And it's in the interest of the financial prey to keep you financially illiterate.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
And when you're financially illiterate, they make more money. So for banks, say for instance, they make Billions, like tens of billions. I want to say $50 billion just on late fees and not even late fees. It's like bounce checks or whatever, non-sufficient funds. Billions. Why wouldn't they just send you a text message? Hey, your bank account is low.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
Or in school, why did they teach you how to balance a checkbook? I literally went, but it was a private school. We actually had a class where they showed us how to write checks and balance a checkbook. And my dad sat me down. He's like, hey son, I want you to pay the bills every Friday. And he was like, this is what I made. This is what we're spending. I think he did that.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
So I want to ask him for the Nintendo because he would see how much money was left. But it was financial literacy for me. So when I grew up, I had those those habits. Not having those habits would cost me money. I wouldn't learn how to save. I wouldn't learn how to invest. So the different fear that I give people, OK, you want to do the W2.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
I'm old enough to see a couple of crashes happen where people's 401k have been wiped away. Right. So I'm like, do you want that option or do you want to have just a little bit more control? Because you gave somebody control. two, three, $400 a week for 30 years. They made millions off of that.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
And they gave you, when you retire, you'll probably have half a million dollars, a million dollars, and you think you did a thing. But the opportunity cost of your financial literacy, it's probably $10 million that you lost because you didn't have that information.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
So when I pivot, when I give them new information, they're like, oh, I was like, listen, I'm not going to promise you getting you $10 million, but hey, let me help you get two or three rental income, right? Properties. So when you retire, in addition to the 401k social security, you're getting three, $4,000 in rent check.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
And the asset is worth X amount put in a trust that you can pass out to your children, lever by life, leveraged by life insurance. We'll go down the rabbit hole. I just make them think differently about that thousand dollars they're giving away to somebody else.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
I got the Nintendo. I got the Nintendo.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
I'll give you a great example of this. I did a Zoom call with Temple University students during the pandemic. Temple called me. That's my alma mater. So I was very honored. They said, hey, can you talk to our freshmen about some financial literacy topics? I was like, great. So I got on the call, maybe 20 people on there.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
And I was like, hey, who wants to be worth $250,000 by the time they graduate college? So you're telling a bunch of 18-year-olds that. And they're like, what are you talking about? That's not even possible. I'm just trying to get this teaching degree so I can make $50,000 in the school district of Philadelphia. Right? Right. Painful. So I was like, all right. So we talked about the credit thing.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
Walked them through the whole credit thing. Opened up a bank account. Getting your first personal credit card. Walked them through all that. In two years, when that credit card is two years old, it'll probably have a $5,000 to $10,000 limit on there. And I want everybody to start their LLC. So I'm talking to freshmen right now. So now it's sophomore year, junior year, excuse me.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
Your credit card is two years old. The limit is $10,000. You have a business that's two years old. Whether you were using it or not, I'm just glad you got that paper. Now you're able to go get business credit or business line of credit. And you're able to put a down payment on an investment property, right? Because you're over 18, you're able to sign for it, talk to a good realtor.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
And now we're going to house hack. You can get up to a four unit property, right? Through a program called NACA. So I'm talking about this NACA program where they're able to get in it with low, low money down or zero money down for first time home buyers. So now you're in this property. The three other units are paying the rent for you, right? and you're living for free.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
In another two years, you're able to take out the equity because there will be a little equity, a little $5,000, $10,000, and do another down payment on another property. So by the time you're a senior or you're a graduate student, you'll have eight doors paying you X amount of money. And at minimum, in the Philadelphia market at the time,
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
Um, those assets should be worth over $250,000 and your cash flowing at least 25 to $3,000. So after I gave him, it was a longer PowerPoint. I was like, after I do that, what do you think will happen to you by the time you graduate? Everyone was like, I probably won't work. And I was glad in that moment I brainwashed them. I was like, really, why wouldn't you work?
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
Well, they was like, well, if I can leverage credit to make $3,000 or $5,000, then I'll just do that over and over. I was like, all right, class dismissed. I did my job. Sorry, Temple University, that everyone's going to drop out in a few semesters. But I just showed them the difference. And I was like, hey, you could still have a job, but having this side hustle cash flow coming in.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
And building asset equity. And then I tell them to put in a trust to protect the assets because everybody wants to sue you. And hey, you got an extra $5,000, $10,000. Start putting that into a life insurance policy that that will grow some safe dividends. So now their mind is just thinking differently about money.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
And I was like, hey, the job that you guys are going to have, you can leverage that to 10X this even more. And you'll probably retire in five years.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
So they can find me on Instagram, Haitian underscore CEO, where I have these conversations every single morning, 6 a.m. Eastern Standard Time. I'm dropping a video on some type of knowledge base so that they can do this. A lot of people hit me up. Hey, I want to learn more. I'm going to sit down with you. I have an academy. It's called Bella Sloan Academy, 50 bucks a month. Sign up.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
We meet every single Wednesday night at 7 p.m. where we would like to be of service. And you can find me on my YouTube channel, Bella Sloan Enterprises. We have long form content where we teach for an hour for free. I tell you about, hey, I only charge for my time. The information, I'm going to give it away to you for free. Just tap into any one of my platforms. I'd love to be of service.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
i have a good friend of mine named storm leroy and he talks about he's called the unemployed millionaire and he says your job should be your first business partner so after you pay all your bills and you have your savings um you take that savings and you use that to fund your business see if it works that t-shirt company the boutique your start you want to start lose your money first your second business partner will get into should be american express wells far gone bank of america
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
Yes, they're absolutely welcome. That's just my moniker. That's my title. That's just for me. But black, white, purple or green, rich or poor, we like to serve everybody. We have something for everyone.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
It's an absolute honor. Great conversation today. Thank you.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
broad overview at the easiest way to get to that path is, and that's why financial literacy is such a component. in our company is actually having good credit. So if you have good personal credit, the banks are going to say, all right, Bella Sloan, you're like five minutes old. We don't know who Bella Sloan is, but we know who Herman is. And Herman has good credit with us.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
He has a 700 credit score. He has a good credit profile. We trust him. And since he's going to personally guarantee a co-sign for this business, we'll give the business this capital in the business's name, not in Herman's name. And that could be your first seed money to start whatever you need to start.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
And one of the blessings and benefit of it is the capital you get in your business name is much higher than you would in your business name. So I have a Best Buy credit card on the personal side, $10,000. My Best Buy business credit card is $30,000 because banks know that the business needs more capital.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
That's just a meme. That is attached to the knowledge that certain cultures get. But the information is universal. It's ubiquitous. If you do the right things, anybody can get good credit.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
Right. So the foundation of Bellas on Enterprise would be your first helping people educate them on their credit and helping them fix their credit. One of the ways we do that was through factual disputes. Per the Fair Credit Reporting Act, your credit report is supposed to be 100% accurate or 100% and 100% verifiable.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
If it is not, the credit agency's trade union, Equifax and Experian, they have to remove those negative items. So like I told you, my name is Herman Dulce Jr. On my credit report, Um, when I was uneducated, it said Herman Dulcey senior or Herman Dole, little edits, little things that were incorrect. It was a phone call before internet blew up.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
Um, credit, um, repair called him up and be like, Hey, you need to fix this. This isn't me. I sent him a picture of my driver's license. We are good to go. Um, Hey, I got this late payment on this credit card. Um, experience says I was late on Thursday, but Epifax says I was late on Friday. I send them both credit reports. Oh, that's incorrect. Their credit reporting act, you have to delete it.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
So I was doing little tactics like that to help people clean their credit because the law is in your favor.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
But it's on here. There's two places you can go just to get it for free if you don't want to pay for it. You can go to Experian.com. They'll let you see your Experian credit report and just to check out what's on there. Then you can go to Credit Karma. I don't always recommend Credit Karma because their score is a little bit different, but the information is correct.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
They'll give you Equifax and TransUnion credit report, and then you can look on there to see the negative items you have that are on there that could be positive, negative, or incorrect just for free.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
Well, some of the tools we can talk about right now, I could just tell them. Number one, I call it credit optimization. So before you go and get funding, you want to look as sexy as possible to the banks on your credit profile. So number one, you want to clean up the demographic information. There's only one name on my credit report, not a bunch of them.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
Number two, I know when we fill out applications, we're usually at different jobs. When we do that, I only have one job on my credit report. It's Bellasone Enterprises. All my old jobs, I called and had those deleted. Addresses, having too many addresses on your credit report. That's a red flag also. So I only have one address. That's my current address because it looks like you're unstable.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
Those are little things that lenders look at. Now, when that's done, the next credit optimization is if you have credit cards, you want to pay down as much credit card debt as possible, preferably keeping it under 9%. That's the sweet spot. Banks like to see between 1% and 9%. Some people are like, well, why don't you pay it all the way down?
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
You can, but banks like to see that they can make a little bit money off of you. But for your credit report, keep it between 1% and 9%. Because anything over 30% that drops your credit score and it shows that you're a little bit unresponsible with income. The next thing is you want to remove as many inquiries off of your credit report.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
Inquiries are when you're applying for credit, they ding your credit. You want to check it. You have too many of those, it's going to look like you're thirsty for money and they don't want to give it to you. So you got to act like you don't really want it. Banks don't like to see any... Yeah. Banks don't like to see any more than three to four of those in the last six months.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
After it's six months old, then they really don't care about it. And lastly, collections, charges, bankruptcies, you want to make sure those are not on your credit report, obviously. And the one last thing I do want to say is your credit profile is important. What I mean by that, it's great to have a 700 credit score, 800 credit score, but you have an authorized user
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
and a Today's Man credit card, and you have a 700 credit score. But me, I have a mortgage, I have student loans, I have a closed car loan, and I have four credit cards that are over five years old, $10,000 limit. The bank will look at both of our 700 credit scores and be like, Herman clearly is more responsible with money.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
So having those profiles on your credit report makes you look extremely sexy when it's time to go and get some business funding.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
Absolutely. Absolutely. We go back to the Fair Credit Reporting Act because they say nothing is supposed to be put on your credit report. Without your permission. So one of those things are my address. So I can call and be like, hey, those addresses right there. Can you please remove it? This is my current address.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
And depending who will pick up the phone, they'll do it there right on the phone at TransUnion Equifax or Experian. Or sometimes they'll say, hey, can you send me your current driver's license or utility bill? And you'll do that and they'll delete it.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
Same thing with jobs. Yes. Anything demographic is a phone call you can delete. When it comes to negative items like charge-offs, collections, or a little bit harder to fight, got to send some letters, use a fair credit reporting app to help you fight it.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
Um, number one, I want to talk to you about taxes for two seconds, because you said something really interesting. If you're in a lot of credit card debt and, um, everybody always looks at me crazy when I say this, I was like, well, we were taught that, um, on our W2s, when we first get a job to like, I guess, take the maximum deduction.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
I was like, you know what you're doing when you do that, right? You're giving the government a tax-free loan or interest-free loan for 12 months. And then in January, February, everybody's on my timeline, balling, going to Cabo. because they got a tax refund check of five, six grand. I was like, or you're going to make some adjustments.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
And this goes to your question about financial literacy, or you can make some adjustments on your W-2, your I-9, whatever. And that money you get every other week or every month, that two, three, four, $500 a month, that's what you're going to take and start to pay down your credit card debt. Um, and, and, and including the side hustles that you may have.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
I mean, when I teach people that they get out of debt a lot faster and I call it, here's how you get out of debt without getting a second job. And that always piques people interest. Um, so that's the last component in getting out of debt on the business, on the personal side, which will transfer to some great opportunities on the business side.
I am Charles Schwartz Show
Limitless Funding Through Credit Repair
Cause now you actually understand taxes just a little bit better.