We are helping many people get unsecured business credit. The first step we are asking people to do is to pull their own credit from all 3 credit bureaus Equifax, TransUnion, and Experian. You will receive 3 credit scores through these 3 companies from data collected. The current plan I am on right now is $14.95/month cancel at anytime and I can pull my credit score every day if I want, and get inquiry notifications every 24 hours. I can tell you that your credit score is unlikely to change every day, but it can change often. This report is needed to show to our associate who can help you to get your unsecured business lines of credit. We are working hard to get people $20,000 to $300,000 worth of business lines of credit of 30-180 days depending on how much business credit you want. There are additional aged shelf corporation options where it will go up to $1,000,000 with just one plan, but the cost at this time is very expensive. These aged corporations are up to 10-15 years with solid paydex and dun and bradstreet scores. We also have 2 year aged shelf corporations that aren’t as expensive, possibly around $17,000 out of the first $100,000 available business line, which is cheaper than some alternatives I have seen. Remember going into the future access to credit and money is huge, it will very important with big retailers going bankrupt by the week, millions of jobs cut, and future uncertainty, this is your chance to get unsecured credit and money. We prefer to work with people that have over a 680 credit score for this easy business credit, but if your credit score is under 680 credit score, we can have you pay for the aged shelf corporation. Also an associate company that can plugin your truecredit.com account and work on credit repair weekly and monthly to build up that credit score as quickly as possible so we can build up even more unsecured business credit. Of course business credit has some recourse, you need to pay it back. The nice part about the unsecured business lines of credit is it doesn’t show up on your personal credit report. However if you don’t pay it back, the companies can come to collect from you someday and it could show up as a collection on your personal credit report. Take advantage of the situation where it doesn’t show up on your credit when you are in good standing, that allows you to borrow a lot of money personally, which is great to use to invest. At this time the shelf corporations have origination fees of 7-14%, with a 7.99% a common origination amount, this amount is subject to change, so please ask ahead of time when you contact us. Here is a message from our sales associate we work with.
“My name is Will and I work for BFG, a local company. Specializing in helping clients acquire business credit card lines and business lines of credit and getting it liquid, 100k to 300k and more!
If you or your clients have a 680 or higher credit score we can help get you this unsecured business credit NO Doc No financials needed. Perfect for Buyers to use for Down Payment money ! We also have programs for people with cash and bad credit shelf corps with 100k lines! No Upfront fees programs available! We also have a program that helps people with high revolving debt (credit cards) if it is preventing them from getting approved. We will do a business to business hard money loan 50k max to pay off credit cards, then we will do a rapid re-score of their credit, then apply for business credit and they pay us back using the new lines which does not affect their personal scores. We prefer clients with corps 2 years old but we can work with new business as well as new as 1 day old and we can set-up LLC for client. Please call if you have any questions or if you want to get together to answer questions.”
How the steps work from getting a corporation to applying for $100k:
1. Receive your IRS letter confirmation
2. Receive your Articles of Incorporation and charter. (You must fax the Charter to 818-449-0828) immediately upon receipt or it will delay the process. (This is so you will be 411 and D&B listed.)
3. D&B and Trade Lines Verification
D&B will call you (See below for important note)
4. Submitted to Banks for Funding
5. Funds sent Via Mail directly from bank to corporation address
**Note: You must have a dedicated land or cell line for your 411 number re-direct. You will be getting a call from D&B. The vendor will provide applicable answers prior to call. It is imperative you answer the phone call and have it answered professionally using the corporation name, or in your name. The vendor will provide the answers prior to the call. You can contact us for more help as part of the process.
Before we can help you with your unsecured business lines of credit, we need to have you sign up to TrueCredit.com as your first step so that we can find out what your credit scores are and what your credit report looks like. We need you to use this exact website/service for now, as it implements well with what we are doing. Let’s now cover the TrueCredit.com service:
TrueCredit.com Service
I will first use my credit card and go to truecredit.com and sign up for the service. I will be asked a few security questions and provide my ss# and other info to get an account. At this point after I login and get my own account I will have a check run on the top left of any new activity or alerts, it looks like the following every time I login and it takes about 5-10 seconds.
NEW ACCOUNTS. . . . . . . . . . .NONE FOUND
NEW INQUIRIES. . . . . . . . . . . NONE FOUND
DELINQUENT ACCOUNTS. . .NONE FOUND
NEW PUBLIC RECORDS. . . . .NONE FOUND
ADDRESS CHANGE. . . . . . . . . .NONE FOUND
OTHER CRITICAL CHANGES. NONE FOUND
It will have another spot for recent alerts bureau agency, type of account, date reported, and description which talks about the creditor. You can manage this account 24 hours per day. Under recent alerts are my 3 credit scores with TransUnion, Experian, and Equifax. I have the numbered scores right there in bold. There are some credit card offers and other advertising links you will need to navigate around. The parts I just discussed show up under the members center area.
Members Center Area will cover:
Your Credit, Your Debt, Your Identity, Your Home, Your Car, Your Insurance, Your legal tools
Let me cover some of the basics under just the following two sections:
Your Credit Section Contains: Credit Alerts, Credit Reports, Credit Scores, and Trending sections
Credit Alerts:This section tab will show all alerts from each of the 3 credit bureaus and the alert type, date of alert, description, and you can open a detailed link and view that. When you view the details it may look something like this:
Reported By:TransUnion
Reported On:05/07/2008
Account Number:4352********
Amount Delinquent:
Payment Status/Method of Payment:
Creditor’s Name:TARGET NATIONAL BANK
Address:3701 WAYZATA BLVD 2CF
MINNEAPOLIS, MN 55416
REMARKS:…
Credit Reports:
This is the main section of the website and it’s very detailed. It will show you the most up to date info based on the lastest report you gathered for whatever date. What I like about this is I can compare all 3 credit report bureaus side by side to see what’s accurate and inaccurate. Here is what you will find under this section, let me go down the list. Credit report date, as well as your name on your credit report, each bureau may this differently. Date of birth, current address, previous address, current employer and previous employers. There can be some inaccuracies here so please take the time to dispute or mail these companies the accurate info, or better yet just hire the credit repair experts to do this as part of the service. The summary section looks like this:
TOTAL ACCOUNTS:
OPEN ACCOUNTS:
CLOSED ACCOUNTS:
DELINQUENT:
DEROGATORY:
BALANCES:
PAYMENTS:
PUBLIC RECORDS:
INQUIRIES (2 years):
There is a legend/key that shows you how they label each of the different payment status, it looks like this
https://www.truecredit.com/images/shared/cncr/unifiedReport/tu-legend-creditreport.gif
Now they will show each company you have credit with, it starts off with real estate for me, and shows each company, payment status, if it’s open, paid, current, etc. It looks like there is a dispute link online if you disagree with something. With the legend it gives a chart with all of the months and years and what the paid status is as of each month in the past, this is very easy to understand and see. It will probably show a 2 year payment history, most of mine show 1 year history. Each section shows this:
Account No.:60325*******
Condition:(This is pay status)
Balance:$
Type:Charge account
Pay Status:
You will notice old accounts you forgot about years ago that you opened, I have never heard that it’s good to close an account, it takes away your credit history, credit history is valuable. There is an inquiry section, who the company is, date of inquiry, and the credit bureau they pulled. Under that section is the creditor contacts with creditor name, address, and phone#. Just a few don’t have a phone#, but instead by mail only.
Credit Scores:
Under Credit Scores Section you will get to see where you rank on the scale of 300-850. Another graph will show you how you compare with 100% of the population. For example if you have a 600 credit score, maybe you’ll be considered higher than 35% of the population at this time, it will vary over time. There is another graph that tells how lenders view you. There are 5 circles which are very poor, poor, fair, good, and very good, these circles overlap and they tell you where you rank with your score within these circles. There is another part written that says where you can improve your credit score. This may include things such as high balances, to late payments from your recent and past credit history, to judgments or past collections, everyone’s credit report will be different with different results.
Trending: This section has 7 different sub link sections at this time.
Available Credit: This section provides a visual graph and states: Your available credit is the sum of your total credit limits minus any balances you owe. Your available credit has a direct impact on your credit standing. Balances above 50% of your credit line are usually considered high. However, if you have excellent credit, as little as 20% usage may have a negative impact on your credit standing. It’s typically a good idea to keep your credit usage in the low to moderate level. Using a low percentage of your available credit, and making payments on time, shows lenders that you can use credit responsibly.
Note: This analysis considers only revolving accounts, not installment, real estate or other non-revolving types of credit.
For example, if your limit is $1,000 and you are carrying a balance of $500, you are using 50% of your available credit.
Balances Payments: This section provides great bar graphs and pie charts. With different colors it represents these categories Revolving | Installment | Real Estate | Collection | Other
The bar graph labeled ‘Balances by Type’ illustrates how your debt is distributed across the five primary categories of Real Estate, Installment, Revolving, Collection, and Other.
The pie chart labeled ‘Balances’ shows the percentage of your total debt allocated to each category. The pie chart labeled ‘Payments’ shows what percentage of your total payments that are allocated to each category.
Delinquencies: This section also provides a line graph
Inquiries:An inquiry is a notation in your credit history that indicates someone was looking at your report.
There are two types of inquiries: soft and hard. Soft inquiries do not impact your credit standing-they occur when your credit report is checked by you, a prospective employer, or for the purpose of pre-selected credit card offers.
The inquiries displayed in this chart are hard inquiries. They occur when you apply for credit with a bank or retail store. A large number of hard inquiries posted over a short period of time could cause lenders to think that you are seeking lots of credit due to financial difficulty, or that you’re overextending yourself by taking on more debt than you can afford. However, it’s still okay to shop around for a loan when you’re making a large purchase such as for an auto or home. As long as your inquiries for an automobile or mortgage deal are all within a 30-day period, many credit scoring programs and creditors will disregard the multiple inquiries or consider them as only one inquiry.
Total Debt: This line graph chart offers a trending analysis, notes are:
Your total debt level includes balances on your credit cards, mortgage loans, auto loans, and other types of accounts.
Comparing your total debt to your income is a good way to gauge your credit health. When lenders evaluate your credit, they prefer to see a debt to income ratio that demonstrates your ability to pay off your debt. Check your Debt Analysis to find out your debt-to-income ratio and learn how that ratio affects your borrowing capacity.
Credit Score: This section shows how your credit score has changed over time since you last checked it. Your credit score is determined by scanning your credit history and running mathematical computations on the records.
It is used - along with your credit report and other information from your loan application - to determine your creditworthiness and what type of interest rate you will receive. Generally, credit scores range between 300 and 850 - the higher your score, the better. Factors that are used in a credit scoring model include:
* Payment History
* The amount of credit to which you have access
* The amount of credit your are currently using
* The length of your credit history
* Recent requests for credit
Tracking your credit score allows you to place a numerical value on changes in your credit report.
Debt-to-Income:
Your debt-to-income ratio compares the difference between the monthly income you entered and the monthly amount you spend to maintain your debt (as listed in your credit report or reported by you).
Lower debt-to-income ratios are better because lenders view borrowers with low debt-to-income ratios as having a better capacity to repay their debts. Typically, lenders view debt-to-income ratios that are less than 20% as very good, between 20% and 39% and good, between 40% and 55% as fair, and greater than 55% as poor. You should always be aware of how additional debt will affect your debt-to-income ratio.
Also there is a Your Account Section which will have
Address and Billing
Password
Your Orders
Preferences
Your Profile
Please go to www.TrueCredit.com and sign up today with your credit card or check, pull your credit data, and contact me and I’ll put you in touch with a representative that can start working on improving your unsecured business lines of credit and improving your credit score right away to move you towards a goal of a successful future. My contact info is ron@minnesotainvestors.com
