Cashflow Blog

To get a bureau credit report, you can do so from one of three federally recognized credit bureaus: Equifax, Experian, or TransUnion. Each of these bureaus will allow you to get one free report- which means if you access all of them, you can get up to three free bureau credit reports per year. Be sure to take advantage of this fact, and keep an eye not only on your finances, but on your security. If you are working towards repairing your credit, these reports will become especially important.

Oh No- What’s This, A Mistake?

Correcting mistakes or questionable activity on your credit report right away is of vital importance. The more time goes by, the harder it can be to correct any inaccuracies. As well, your credit rating suffers. Not to mention being harassed by bill collectors for bills marked unpaid.

When you see a mistake, you have to make a hand-written request to challenge the information and send it to the credit bureau that sent you the bureau credit repair report. The credit bureau has 30 days to get back to you. In the meantime, they will be contacting all of your creditors to verify if what you said was true. If they cant find anything to disprove your written request, theyll change the information in your favor.

As a borrower, you also have the right to have written statements included with your credit bureau repair report. These can be included as a permanent record in your report- for future lenders to read your side of the story. For instance, if you were involved in some type of natural disaster or other significant event which affected you substantially, but had never missed a loan payment previously, they may take this into serious consideration when considering lending to you.

What a Credit Bureau Report is Not

A bureau credit repair report does NOT magically remove all information about your substantiated bad credit days, such as information about bankruptcies, loans and repossessions. Changing that information is highly illegal.

A bureau credit repair report also is not a new or secondary identity file about your credit history. That also is incredibly illegal ” right up there with fake I.D.s and forged passports.

If you have to have changes made to your bureau credit repair report, be sure those changes are actually put into your report. The best way to do that is to order another report. Life is fun, isnt it?

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What The Heck Is A Bureau Credit Repair Report?

Robert talks about how to make the best of this economy and come out on top in this interview on one of the most highly viewed stations in New York, Fox 5.

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Don’t Let Tough Times Get the Best of You!

Does anyone know if the game always came with tapes, CDs, and or a video? My copy did not have them.

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Thread: Cashflow 101

What the financially challenged don’t know…

1.  They don’t know how to get into the money flow. The crucial distinction between sportsmen and spectators is not that the sportsmen play and the spectators watch; it’s that sportsmen get paid, while spectators pay!

To get paid you need to be inside the lines, on the field of play. As long as you’re the one settling debts, you’re a spectator. You’re investing in someone else’s game.

2. They don’t know how to create value. To get into the money flow means creating value, and value is created automatically when you’re in your own flow, when you’re doing what comes naturally to you.

Donald Trump is in his flow buying and selling property. He has an eye for spotting opportunities in buildings, which he buys and sells. He has become one of the biggest property tycoons in America.

3. They don’t know the difference between good debt and bad. When you buy a car or a boat, you’re buying a liability. Any purchase that does not put cash in your pocket is a liability.

Good debt buys assets that bring in cash. If you take a loan to buy an apartment building that will produce revenue, that’s good debt. You can also borrow against your mortgage to acquire more assets.

4. They don’t know how $100 saved can be turned into $1000 invested. When you’re spending everything you earn just to survive and pay off debt, you normally think you don’t have much left to save.

But the truth is you don’t need loads of cash to start saving, a few hundreds saved can be used to raise finance to buy an asset that will generate thousands. You can start with as little as $100.

5. They don’t know how to use other people’s resources. Take a look at any wealthy or successful person. Are they operating alone, or do they have a team of supporters?

The gung-ho, lone-ranger approach simply does not work. The first step to getting on to the field is putting the right team together. You don’t have to know how to do everything, you only have to know who can do it for you.

6. They don’t know how to control their emotions. Starting your own business is risky. So is any investment. The single most important factor is not knowledge, but being able to manage your own emotions.

Most people don’t invest or don’t start their own business, not because they don’t know how, but because they’re afraid. which leads to errors of judgment. Emotional maturity is absolutely crucial.

7. They don’t know why they want to be rich. Most people just have a vague idea that they’d like to be rich. They don’t know why. T hey don’t know what they’d do with it once they get it.

Robert Kiyosaki, author of the Rich Dad, Poor Dad series, says that if you don’t have a good enough reason you’ll be looking for short cuts, trying the next get-rich-quick scheme.

Source: Neil bierbaum.

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7 Keys to Creating Wealth

By Lou Wallace

Where to find working capital is a problem that plagues all business owners.  Whether to seek an “Angel” Investor or find a commercial small business loans through an Asset Based Lender or traditional banking source.  The difference is dramatic. 

In both instances a debt is created; however a Lender doesn’t take a percentage of your company in return for the risk.  A start up business may need “seed” money but once it is successful, and the Investor has been repaid, the business owner has a partner, whether they want one or not. 

Lenders (Asset Based, Factor, Banks and SBA small business bank loans) on the other hand, charge interest or a fee for the financing they provide.  Once the debt is repaid the transaction can be over or can turn into a long running and mutually rewarding experience. 

The business owner should remember that when borrowing money you only pay the contract rate for the loan, while with an investor you typically share the profits of the company.  If the company is profitable the investor will likely earn much more than the cost of funds for a loan. 

Performance Funding Group, LLC is a locally owned and privately funded asset based lender who has been providing several different loan products since 1997.  Lou Wallace has been working in commercial loans since 1971.  Lou Wallace can be reached at 602-912-0200.  www.performancefunding.com

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Investor vs. Lender