The thing people hate talking about more than money is talking about credit. Credit is important in business and in life. They pull your credit for everything these days, even when you apply for insurance or for a job. Employers think credit is a direct indication of who you are, and they are right.
You don’t need to live with bad credit. Here are the four things you need to know to fix your credit.
#1 Think Positive
Having bad credit is only a short-term problem. You need to believe you can get past your challenged credit. Don’t beat yourself up over it.
#2 You Need More Revenue
The reason most people have tough credit is because they don’t focus on revenue. We were taught to focus on the expenses. Our parents hammered on us to turn the lights off. We are even taught by people like Dave Ramsey to eat beans and rice. Stop worrying about the expenses and start focusing on how you can make more money today. Can you get a second job, sell more product, deliver more product, or package more product?
#3 Get a Copy of Your Credit Report
You can get a free copy of your credit report from FreeCreditReport.com. You have to see what is going on with your credit and then start figuring out how to fix it.
#4 Write Dispute Letters
If you have negative items on your credit report, the Fair Credit Reporting Act requires that your original creditor verify the item is accurate within 30 days or the credit bureaus have to remove the negative item from your credit report. Send dispute letters to the three credit reporting agencies: TransUnion, Experian, and Equifax. You can find the addresses online. Tip: Do not submit online disputes. When you click the button to do an online dispute, you are agreeing to the terms, which say you can never dispute that item again.
Tell the reporting agencies the negative items on your report are incorrect and that they are to be removed. The credit agencies will then process your request. If they determine the items are accurate they will stay on your credit report. If they determine they are inaccurate, they will be removed. Or if they can’t get verification back from the original creditor within 30 days they have to remove those items.
Once those negative items start to come off your report you will gain momentum. I want you to win the credit battle for your self-esteem. My sole purpose in life is to help you get out of the pain side of your business and get into the pleasure side.
Matt Manero combines his business brilliance with more than 20 years of hands-on experience in transportation equipment finance. Today, he is a CEO leading four companies that generate over $100,000,000 per year in business with a base of more than 10,000 clients.
Matt launched his first business, Commercial Fleet Financing, Inc., in 1995 with a phone, a folding table and the unyielding confidence of a single client, a trucker. Fast forward 20 years: Commercial Fleet Financing, Inc. made Inc. magazine’s Top 500/5000 list of fastest growing companies in America in 2014. Matt is the creator and personality behind CFFnation.com, the first and only online video network featuring original programming for and by innovators, operators, movers and shakers of the transportation industry.
His companies have been recognized in trade publications such as Overdrive, Transport Topics, Commercial Carrier Journal, and Dealer Solutions Magazine. Matt hosts his own weekly Radio Show aptly named, “The Grit” which airs on lifestyletalkradio.com and also on CFFnation.com. In addition to “The Grit,” Matt has authored a series of quick read books entitled “Tower, Mover and Construction Co. Need to Know NOW”, and also a forthcoming book, “I NEED MORE MONEY,” which reflects his battle to build his business and guides readers in creating their own future and financial success.