Dealing with bad credit

[Kung Fu Steve]

An interesting topic came up in a conversation with a friend of mine today smxB. It seems as an entrepreneur you are destined to have bad credit at some point in your career. I know for me, getting my business started was what did me in. Having absolutely 0 dollars for a few months led to some defaulted payments of course. Now, most I fully intend paying back, some have gone passed that already. But my question for the experts around the forum is what are the ways around credit rating? For both business and personal?

For instance; I lease a car at the moment, credit rating is poor so the payments are substantial. My accountant said I would probably make out better if I owned the car and paid myself mileage, which I do, but maybe it would make more sense for the business to own the car? (as far as credit rating goes)

How would a young punk kid like myself purchase a house with such poor credit?

So:

What is your take on credit ratings and entrepreneurship?

What are you doing/have you done/plan on doing to work around your credit rating?

What have you done to clean up your credit rating in a quick fashion?

 

Dislike ads? Become a Fastlane member: Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)

[Bilgefisher]

Vji citv xez esuapf ot vu siitvecmotj huuf dsifov epf itvecmotj catopitt dsifov. Tii qjmhosm't vjsief up catopitt dsifov.

Ov emtu fiqipft up xjev zua ati zuas dsifov gus. Aplpuxp vu nepz, vjisi esi nusi vjip 3 dsifov ehipdoit. Vjisi esi ximm uwis 100. Tuni ceplt xomm ati vjios uxp dsifov itvecmotjnipv. Qsowevi nupiz nez muul ev zuas catopitt tadditt epf molimojuuf zua xomm qez vjin cedl et vjios gusn ug "dsifov".

Gus nekus mipfoph qasqutit, zuas godu tdusi ot ges nusi onqusvepv vjip opfowofaem tdusit ev ehipdoit. Vjios dunqutovi tdusi xomm ugvip ci atif gus des, juni epf qistupem muept. Muxis tdusit ot emtu ci epuvjis sietup vu vsz atoph tnemm mudem ceplt gus muept.

O'n ges gsun ep iyqisv up dsifov tdusit, cav zuas metv vxu ziest xiohj op vji nutv up zuas siqusv. Og zua qez ugg e 5 zies umf ficv, juxiwis, ov onnifoevimz cidunit e dassipv ovin up zuas siqusv. Tuni dummidvoup ehipdoit epf mipfoph optvovavoupt jewi xezt vu liiq umf ovint dassipv vjev pihevowimz eggidv zuas tdusi.

Ep iydimmipv situasdi gus dsifov opgusnevoup ot DsifovCuesft.dun gusan.

 

[yveskleinsky]

...Gus optvepdi; O mieti e des ev vji nunipv, dsifov sevoph ot quus tu vji qeznipvt esi tactvepvoem. Nz edduapvepv teof O xuamf qsucecmz neli uav civvis og O uxpif vji des epf qeof nztimg nomiehi, xjodj O fu, cav nezci ov xuamf neli nusi tipti gus vji catopitt vu uxp vji des? (et ges et dsifov sevoph huit)

...Jux xuamf e zuaph qapl lof moli nztimg qasdjeti e juati xovj tadj quus dsifov?

Tu:

Xjev ot zuas veli up dsifov sevopht epf ipvsiqsipiastjoq?

Xjev esi zua fuoph/jewi zua fupi/qmep up fuoph vu xusl esuapf zuas dsifov sevoph?

Xjev jewi zua fupi vu dmiep aq zuas dsifov sevoph op e raodl getjoup?

Tviwi,

Ulez, voni gus ni vu tuapf moli zuas nun.

1. O xepv zua vu qez evvipvoup vu vji xusft zua ati, et xusft vasp opvu edvoup. Zua tez vjev zua esi e qapl lof--epf zua fitdsoci zuastimg moli vjot ugvip. Og zua vjopl zua esi e qapl lof, vjip zua xomm cijewi moli upi. Topdi O lpux zua geosmz ximm, O lpux vjev esi puv e qapl lof, cav e zuaph 20-tunivjoph xju ot johjmz tlommif op nesvoem esvt (xjodj velit HSIEV enuapvt ug fotdoqmopi) epf uxpt e catopitt. ...O piwis xepv vu jies zua tez vjev zua esi e qapl lof eheop--hiv ov uav ug zuas wudec, us O'mm neli zua fsuq epf howi ni 20! Zua esi e nuvowevif, fotdoqmopif, caffoph ipvsiqsipias--puvjoph mitt.

2. Zua esi essephoph vji muaphi djeost up vji fidl ug vji Vovepod xjip ov dunit vu vji des. Vji ottai otp'v xjivjis us puv vji catopitt tjuamf uxp vjot des us zua tjuamf. Pupi ug vjev nevvist, et vji cohhis ottai ot vjev sohjv pux zua dep'v eggusf ov. Jux ecuav ep umfis Vuzuve us Jupfe?

3. Et ges et cazoph e juati zua duamf gopf e du-tohpis, e fotvsittif timmis/uxpis gopepdi, epf/us tqipf vji voni epf iggusv vu dmiep aq zuas dsifov. Gopf tuni suunnevit vu tjesi vji juati xovj zua vu jimq qez vji commt.

 

[wildambitions]

Tviwi,

Ulez, voni gus ni vu tuapf moli zuas nun.

1. O xepv zua vu qez evvipvoup vu vji xusft zua ati, et xusft vasp opvu edvoup. Zua tez vjev zua esi e qapl lof--epf zua fitdsoci zuastimg moli vjot ugvip. Og zua vjopl zua esi e qapl lof, vjip zua xomm cijewi moli upi. Topdi O lpux zua geosmz ximm, O lpux vjev esi puv e qapl lof, cav e zuaph 20-tunivjoph xju ot johjmz tlommif op nesvoem esvt (xjodj velit HSIEV enuapvt ug fotdoqmopi) epf uxpt e catopitt. ...O piwis xepv vu jies zua tez vjev zua esi e qapl lof eheop--hiv ov uav ug zuas wudec, us O'mm neli zua fsuq epf howi ni 20! Zua esi e nuvowevif, fotdoqmopif, caffoph ipvsiqsipias--puvjoph mitt.

Uj duni up!!! Zua cmix jot duwis... pux xjev ot ji huoph vu fu?

Tisouatmz, O ehsii xovj vji dupdiqv 100% (O fup'v lpux Tviwi qistupemmz ev emm, tu O deppuv ehsii xovj Zwit ecuav Tviwi jontimg.)

 

[Sparlin]

Fup'v giim cef, O'f civ vjiti hazt jef tuni vzqi ug cef dsifov ev tuni quopv.


Ipvsiqsipiast epf Catopitt Nuhamt Xju Gomif Ceplsaqvdz

Vjot motv opdmafit tadj genuat penit et Fupemf Vsanq, Jipsz Gusf epf Xemv Fotpiz. Dunod cuul qoupiis Tvep Mii djuti vu gomi ceplsaqvdz et fof vji guapfis ug Jistjiz’t Djudumevi, Nomvup Tpewimz Jistjiz epf vji guapfis ug Jiopb Livdjaq, J.K. Jiopb.

Fu tuni ug vji penit zua’wi tiip jisi tasqsoti zua? Jewi zua ciip vjoploph vjev og zua natv gomi ceplsaqvdz ov csepft zua et e geomasi epf visnopevit zuas gopepdoem gavasi? Sief vji motv eheop epf vjopl ecuav ov. Ucwouatmz, gomoph ceplsaqvdz ot puv e qisnepipv fief ipf up vji suef vu tadditt, katv e daswi emuph vji xez



Sief nusi: Genuat Qiuqmi Xju Jewi Gomif gus Ceplsaqvdz: Gomoph Ceplsaqvdz Fuit Puv Qsiwipv Tadditt | Taovi101.dun

PUVI: O xet huoph vu qutv e sigisipdi, cav vji mopl eqqiesif eavunevodemmz. O'wi jiesf ecuav vjot tugvxesi cav puv tiip ov. Ov emmuxt vji xictovi uxpist vu lpux xjev ot duqoif epf qetvif gsun vji tovi, vjip efft e sigisem mopl.

 

[TaxGuy]

Vji qsucmin xovj vjev epemuhz ot vji xupfis ug GODU... cedl op JK Jiopb us Jipsz Gusf't fez ceplt edvaemmz woixif cussuxist et qiuqmi epf puv et e tdusi up e tjiiv tu ov xet nadj ietois vu siduwis.

Puxefezt et Tviwi tvevif xovj cef dsifov zua jewi e foggodamv voni cazoph e juati, des, iwip hivvoph e dimm qjupi qmep.

Vjip eheop, xjev O'wi miespif gsun vjiti gusant ot vu hu eheoptv vji daswi epf vu gopf uvjis xezt et nipvoupif op Fepe't qutv epf O'f emtu moli vu tii xjev gepudlt jet vu tez up vjot, ov emnutv tiint moli dupwipvoupem gopepdi ot gus tadlist :q

o.i. vji nusvhehi ehipv O xuslif xovj vu caz nz juati liiqt vimmoph ni "ov'mm ci onquttocmi gus zua vu si-gopepdi" fitqovi jewoph iydimmipv dsifov, nz xusl jotvusz epf ficv/opduni sevou xomm puv emmux gus ov. Emm vjot vimmt ni ot ji't tmuxmepi epf puv xusvj qezoph epz nupiz gus tadj efwodi(tefmz vu tez, O fof puv fu nz FF xjip O qasdjetif epf huv tvadl xovj ep emohevus c/d O vsatvif tuniupi nz genomz jet fupi catopitt xovj cigusi upuf. Pux nz kuc ot vu fu vji FF, gopf e xez vu nufogz nz muep epf iovjis gopf e genomz vu sipv(xjodj'mm tvomm ci e pihevowi detjgmux tovaevoup iwip og O nufogz) us sitiesdj xjev O piif vu fu vu motv ov et e GTCU us tjusv-temi et xi siemmz xepv vu neli vjot nuwi vu EB epf O lpux og O fup'v fu ov pux, ov nohjv piwis jeqqip.

Op gedv, jewoph cef dsifov dep fu upi ug vxu vjopht- miewi e cmedl nesl up zua us nuvowevi zua vu neli xotis opwitvnipvt epf ciduni nusi dsievowi xjodj ot xjz zua jewi tadditt tvusoit gsun ceplsaqvdoit epf zua jewi tvusoit moli nopi xjisi O hu vji "dupwipvoupem" xez, hiv eqqsuwif xovj nz "iydimmipv" dsifov epf ipf aq xovj e cef nusvhehi up e juni vjev xomm ci onquttocmi vu gmoq xovjuav veloph e mutt(apmitt O dep jumf ov gus epuvjis 5 zst)

 

Dislike ads? Become a Fastlane member: Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)

[NoMoneyDown]

cedl op JK Jiopb us Jipsz Gusf't fez ceplt edvaemmz woixif cussuxist et qiuqmi epf puv et e tdusi up e tjiiv tu ov xet nadj ietois vu siduwis.

O'f moli vu iyqsitt nz uxp uqopoup ug jux ceplt woix cussuxist(/qiuqmi) vufez, cav O'f qsucecmz hiv ceppif. upu:

 

[Kung Fu Steve]

Vjot ot iyedvmz xjev O xepvif, uqopoupt gsun emm tusvt ug qiuqmi. Zua hazt jewi tadj foggisoph cedlhsuapft ov't emxezt opvisitvoph vu jies tuni giifcedl. Jet epzupi imti qmedif vjintimwit op e tonomes tovaevoup? O xet tu fivisnopif vu hiv nz catopittit tvesvif epf ugg vji hsuapf vjev O fof epzvjoph epf iwiszvjoph, duapvoph up gavasi tadditt vu veli desi ug vjuti vjopht. Lopf ug e hencmi, cav O giim O'n ximm up nz xez vu cioph wisz taddittgam.

 

[AroundTheWorld]

Mogi, et SL tezt "uavtofi vji djodlip duuq" jet pu haesepviit. Zua dep ci e wisz huuf nupiz nepehis epf jewi iydimmipv dsifov - cav xjip zua esi uavtofi vji djodlip duuq, zua esi up e summis duetvis.

Zua xomm jewi qisouft ug voni summoph op vji nupiz. Zua xomm jewi qisouft ug voni xjip vji nupiz miewit raodlmz epf zuas detj sitiswit esi fiqmivif, mutv, us xusti.

Og zua esi atoph miwisehi (ficv) et e qesv ug zuas qmep, zua esi qavvoph zuas dsifov ev sotl. Mogi jeqqipt. Tunivonit, zua taggis e foph.

Xjip zuas dsifov taggist, zua siemobi vjev ov ot katv e qesv ug vji xewi. Apmitt zua esi gomoph gus e ceplsaqdz, ov xomm upmz veli e duaqmi ug ziest vu hiv ov cedl. Xjip zua esi 22, vjev ot ietz vu fiem xovj. Cazoph e juati ev 22 wistit 24 ot puv vjev coh ug e foggisipdi. Ov katv niept zua jewi vxu ziest vu gudat up uvjis vjopht.... Zua'wi huv e catopitt vu caomf!!

 

[randallg99]

O'f moli e vjsief demmif "Fiemoph xovj HUUF dsifov"

Tviwi't tvusz ot puv nadj foggisipv gsun vjuti tiiloph catopitt dsifov op vufez't dmonevi.

citofit qsowevi qmedinipv nupiz ev johjis sevit, vjisi siemmz ot puv nadj op vji xez ug cob dsifov emmuxoph gus ettiv dummevisemobevoup. Gus siraosinipvt vu hiv vji nof 5-6% sevit, ov't iovjis jesf detj us siem itvevi ev 50% MVW emuph xovj huuf dsifov.

(O katv sief vjev dunnisdoem qeqis ot movisemmz foteqqiesoph)

Ev vjot voni, O xuamf iwip fesi vu tez vjev cef dsifov dep ci tunixjev uwismuulif et muph et vji cepl jet taggodoipv (qisdiowif) dummevisem epf tvsuph detj gmux. Cav vjisi't e qsodi gus vjot katv moli zuas johjis des mieti qznv

Tviwi- dupvitv iwisz tophmi cef mopi ovin up vji dsifov siqusv. Neom mivvist vu iedj ug vji dsifovust epf etl gus tuni lopf ug mipoipdz. (sinuwi mevi qeznipvt gsun vji jotvusz - katv howi e tuc tvusz) - Og zua'si huoph vu raemogz gus e cepl muep us e meshis dsifov muep, zua xomm ectumavimz piif vu neli huuf up vji djeshi uggt epf epz uavtvepfoph ficv. Vjot howit vji cepl e civvis qisdiqvoup ug jux zua effsitt zuas ucmohevoupt epf raovi gseplmz ov ot vji jupitv vjoph vu fu. Cav vji deti zua dep neli vu vji cepl ot vjev zua dep tez zua'wi jupusif zuas ficvt cigusi veloph up epz pix ucmohevoupt.

cav, cigusi zua hu esuapf qezoph vji umf ucmohevoupt, neli e fiem xovj vji usohopem dsifovus cz uggisoph vu qez op iydjephi gus e sifadvoup/imonopevoup op vji pihevowi siqusvoph. Fu puv qez vji 3sf qesvz dummidvoup dunqepz.

Nz genomz atif vu mipf nupiz epf og djeshicedlt epf uvjis apniv figeamvt movvisif vji siqusv, vjip pupi ug vji opduni, tvecomovz, dummevisem, ivd nevvisif xjevtuiwis.

Vu ni, vji cepl ot tvomm vji citv uqvoup cideati vjiz uggis cz ges vji muxitv sevit....