The Power of Credit with Ashton Henry & Grant Cardone - Ask the Pro

[Music] marketing and promotion is the lifeblood of your business if you tried Facebook Instagram LinkedIn YouTube and have no clue why you're not getting these followers or any traction have you worked with other agencies and then nothing happened 10x productions grant cardones digital advertising agency is now available for you to get on track with social media lead generation full-scale training and production will get you the leads and give you the training to understand your social media and how to build a brand better just go to Cardona advertising com that's Cardone advertising com to get your free marketing assessment and we will get you on the road to the right marketing and all of your business needs visit Cardone advertising right now [Music] hey welcome to ask a pro you ready I'm ready dude are you ready okay because today we're talking about one of my favorite topics and I know it's going to be one of your favorite topics Ashton Henry is an expert when it comes to credit everything you need to know about credit cards we're talking about the devil now this dude lived with the devil and found out how he operates and basically if you've been spending time with him he can show you how to clean up your past okay just to give you guys some statistics real quick credit card debt in America this is just one little country 911 billion dollars $15,000 per household mortgage debt can we talk about mortgage debt today not eight point nine trillion dollars okay you guys think Amazon is big that's eight point nine trillion dollars that recurs every year average household 180 thousand bucks auto loans one point two three trillion 27,000 per household student loans that's that's stupid right there one point four trillion dollars little kids just like little victims momma talk you guys into that to you the people that love you the most talk you into that that right there your mom is like don't get credit card debt don't use visa but go to school all others is thirteen trillion dollars I'd love to know what to all others is average percentage rate on a credit card today seventeen percent man it's good to have you thank you very much okay so how do people get in this situation and then we're talking about how to get out of it what happened well I mean financial literacy on a hold is not really being taught in the United States you know a lot of people are being educated the right way how to use their credit cards how to manage that effectively and that's what we come in to help people take care of their finances and like you said earlier a lot of people are put into situations and they're not educated about it and they make a lot of mistakes and we just help them get those negative things off their credit report leveraging the Fair Credit Reporting Act we just passed the what's called the Fiat credit reporting out of fear credit all tonight which is possibly Congress in 1971 Oh the fair fair yes I thought you said to fear credit said yeah I do I do fear credit the fair credit report okay and what about that and basically it's a consumers right to dispute any negative item that's reporting on their credit report but it'd be a bankruptcy or foreclosure a tax lien repossessions - and doesn't matter what that negative item is we able to dispute those things get them off their credit boat so we can get people and you start with the mistakes that they've made in the past because what what what happens if let's say you know grant young granny's 25 26 years old he's got a bad credit report he took on too much credit can't handle I can't keep up with the 17 percent maybe I got a combination of a student loan an auto loan and some credit card debt how do I and I got behind I just got ahead of myself a lost my job something happened how do I start how do you help me fix some of that okay great so what we actually do we'll take an analysis of your credit puts see whatever is negative on there and again leveraging the Fair Credit Reporting Act we're able to dispute any Neronian inaccurate or knops absolute items on those credit reports so whether again there's two loans that the the other debts that you have on there we able to dispute them again we're looking for the inaccuracy in the reporting so what what can be an is there always it I mean it could be an accuracy could be your name spelt around it could be the address the a docket number or the the late payment reporting and it's not accurate so we're looking for those things to help you get those negatives on yeah yeah I've heard some people say on the on the repair end some of its just about overwhelming the financial institution is there any validity like like there's groups like yours that could say hey we're just gonna overwhelm them with paperwork they're not set up to do it yet not only that a lot of companies that you might have fought in the past they're probably out of business so when we send those those letters to the speed was negative on the credit book and the credit bureaus send those letters to verify our response there's no response so they have to remove those things off your credit report as well what's your what's your success rate with with let's say I have some let's say it's a legitimate deal by the way it probably yes most in most cases right like I didn't pay I'm late on my car payment I'm balancing 2008 even today I'm balancing between okay I'm not gonna pay my student loan today should I be paying the student loan back yeah I mean private student student loan sister government loan so you'd love to people's think yeah I can't get away from thing Italy okay the auto loan like I was late on that I'm late on my art my my student loan but I keep paying my credit card I'm timely on my credit card so what percentage of those can you even though it's legit I'm late yes so what we do you know based on how many late payments you have on a credit report instead of deleting the entire history of your credit pool we can actually dispute the late payment to have it forgiven based on again how much late payments you have on there because that car payment even though you have negative late payments on there it's still a factor in determine what your credit score is so if you remove the history all together what's gonna happen your credit score is gonna drop so you can actually dispute it to keep those big goes to late payments be updated to reflect paid as agreed so you're saying if you defend me I hire you I guess right how are you and then and then you just you don't want you don't want the the balance to go away explain that I don't I don't understand well okay so because you said my credit would go down if what so let's say for instance you have a lead let's say you have a car payment for example you have one or two leave payments on there but you'd be making payments on time for the last three years on that car yeah right those positive payments that you made is a factor in determining what your current credit scores uh-huh so if we remove that history altogether of the last three years of you making payments on that car note what's gonna happen you're gonna lose that trade line on your credit history altogether and your schools is gonna drop because not gonna be on you call got a trade line trade line why do you call it a trade line is there any account that you acquire to your credit report that's gonna see that tree line and and then how important is my credit score I mean your credit score is very important it's not just to be able to you know as you know you're in real estate to be able to get approved for a mortgage a car note a lot of employees actually pulling your credit report for employment right especially in managerial positions while your credit score doesn't have any bearing whatsoever and determine if you're gonna be a great employee or not it's a fact Nene tell me you get in higher with a lot of big financial since we put my credit score one day while we're in here wouldn't it come out today no no case they can't be 50s agree co-discoverer it is it I think I was like you know almost perfect but I'm like I don't want even be perfect right you really don't want to be a perfect score do you I mean the highest score is the high you can get the scores possibly is good stunning it's good for you yeah so so and what what drives that score what's a lot of different factors you know 10% off your credit is based on the types of credit you have two types of credit you have revolving credit then you have installment credit revolving could is any debt that you can use em pay off like your credit cards installment will be any account that you have a fixed payment or a date to paid off by example a mortgage or car note annex 10% is based on the other so revolving is my Bloomingdale's or Nordstrom's right credit cards banging me and they want me to get the credit card by the way they are they so insisting upon me getting a credit card because you know the interest rates be so much your credit score is your interest rate is gonna determine which how much money is actually actually earning over time based on whatever this yeah so Nordstrom's could actually make more money on their credit card business than they could the clothes yes at 17 percent they don't have a 17 percent right again you have a balance a lot of people aren't paying attention to the interest rate so they have the credit card they got that merchandise but they're not paying attention to how much money when they make that payment is actually going towards the principal and the interest okay so the revolving is the Nordstrom's I just want so the audience can see like and the installment is house payment mortgage car notes yeah small installment loans an extent percent is based on how much times you apply for credit but you know 30 minutes like to see how I work what percentage is that 10 percent 10 percent how many times I apply you want to be mindful of how many times you apply for credit within a 30-day billing cycle the more you have increase on your credit port anything over four to five increase your credit score now you comes across like you're desperate for credit so it's like you're trying to get access to all these different lines of credit so you can pretty much to the to the creditor is they looking at you like you're trying to rob Peter to pay Paul you just have to have the physical cash to pay those bills you getting all these lines of credit so you can use them in different situations okay 15 percent is based on the length of the credit history how long you know what you talked about he's got his percentage yeah so 15% is based on the length of the credit history how long have you had that specific opened whether it be five years three years you know your credit histories you basically paying your bills on time overtime for a long time so the longer I've had lot longer that would be good for me it shows a track record track wiggle if you're showing that you're able to make payments yeah on your bills okay 30% is based on the amounts owed good I got a lot of credit I got a lot of debt I bet you do I don't know I don't even know what it is today maybe hey sherry she can ask Susan how much it is it's got to be four or five hundred million bucks at least four or five hundred million so so you know 30% pay it off everyone I pay every what no matter what I pay but I'm getting the money from some other place right so you generate an income and again a lot of people are putting themselves in hot water by not having enough income to pay $10,000 for the credit like I mean the lower the number the number can actually hurt me too right from what I understand well not necessarily you can have a $300 credit card and ten thousand dollar credit card if you're not doing it if you're not making the payments it's still gonna affect you same with no but I mean the balance like if I have a zero balance if I have no credit works me too right right if you 30% of it 30% of my credit score is driven by the amount so let me explain that the 20% is based on the amounts owed so that's basically your credit limit versus your credit balance so whatever limit you have let's say you have a ten thousand dollar limit you want to multiply that by 0.3 and that's right spending limit so on that $10,000 credit card that would be $3,000 that's your spending limit whenever you go over that $3,000 your credit score is gonna drop because you're using more than 30 person what if I'm not using any of my credit that's available to me well you want to use your credit because if you're not using it then you're not getting any history of you making payments on those yes so you want to use it now is that just the story they tell us so that we use our credit cards like like come come spin it's like the drug dealers like come on over man well not necessarily because again if you apply for any lines of credit they want to see that your bit to make payments uh-huh so at the end of the day you still have to use that lines of credit you have a lot of people who have credit cards they never use them cut them up they just lost it I got seven cards I don't use it they're like the guy trying to lend you money was like man you got to show me just cuz you got a gym doesn't mean you use it what could be overweight you know last time I saw you were freaking all chiseled up right okay so okay so I got I got like 45 55 what's the rest of this credit score and then 35 percent is based on your payment history have you ever paid ability so you always want to pay your bills on time yeah no we always pay early right you can't be early but I don't want to I mean what would I well you should well cuz what happens a lot of times when you pay earlier your interest rates based on the closely is that actually deep that that bill is due the higher interest rate you plead earlier the interest is a lot and you can you can see this if you have a car payment but people can take a look they can walk into their bank make that payment couple days before this actually do when you look at the interest rate and the following month just made that payment on the day that is true you would see that as a difference in the interest rate so again more of your hard-earned dollars is going to us interest right on your principle I tell you it had to be close to 400 I don't think they have it all 380 million so so but I do you know so so Dave Ramsey says all debt is bad debt do you believe that no I don't believe that he's only worth 50 million bucks so clearly he needs to take on some debt because he got a TV show and I don't right and and you know no I don't believe all that it's bad day you know again I believe a lot of this debt that we're talking about is terrible debt right well again it depends on what that person is trying to do with that day you know in case stuff you know you establishing well for yourself having real estate investments yeah that's a great way to create income for you so so that debt in that case is not bad dad so you're saying if the debt provides income or the opportunity to create income that's the debt and you know most people are living paycheck to paycheck so a lot of people have credit cards to help them you know get you the next paycheck they might have different cards just to compare bill whatever the case is but again there are people who are using that to create to conserve income for themselves okay you have less using debt to con assume or they'd be too if they don't have the income show off right you know but then you have the the clever people who are using debt to establish work for themselves and create the first did you get in this space were you from where's the accent from I'm I'm actually from Grenada Grenada yeah that's a beautiful country it is it's very green yes yeah yeah I should I heard it's gorgeous there it's beautiful man I love spice so I came here in 2004 on a soccer scholarship I play Division one soccer got injured back in 2008 I moved to Miami to do rehab I just started building my life here you know my first job here Miami I was actually working construction because I didn't have the legal documents to work here just did a job just to pay the bills so I got my you know document started out and everything I started working at a college Brown Mackie College in Miami did admissions there for almost four years and then I just got tired of you know the nine-to-five I got tired of I was having more bills than money at the end of the month so I decided to walk away from that corporate America said and got into doing taxes and eventually whoo I got into the credit pay I had a friend was a big mortgage broker here in South Florida and she reached out to me so I can provide the service that my tax office to help my tax clients increase their credit and people already asking me for a way to increase their credit school because most people are trying to buy a house yeah they're trying to get a better better better score and lower lower interest rates right you know they're trying to put them you know a lot of people trying to get into homeownership right so they have the taxes they have the income but what's stopping and most of the times their credit score right so I got in initially should be told I had about credit my credit was at a 520 within five and a half months of me using the service my credit went up over 700 points overall over 735 it went to over 700 no it didn't go another set how high can a credit score I mean you can have as much as that 850 so so you went up from us 525 22:07 35 so I work for myself so I started referring it to my tax clients at a time we had about 375 tax clients notice about a year and a half into the business and providing the service actually helped me skyrocket my tax business because people were coming in my existing clients got a credit fix they started telling other people about it who we weren't act at the time and help me build my tax business - from 300 people to over 4,000 people Wow over three years that came in to get their credit fix you help somebody with a credit they become a loyal customer yeah yeah and again you're putting them in a better financial situation it's not just being able to get a credit card but to put them in a position where they can get that house get that card anyone with a low interest yeah so you're really you're you're using I mean you're playing offense when you're talking I mean it sounds like your service the service you provide today Ashton is defense for the for the consumer that's got back right but really you're putting a guy back on offense so that he can get a he can negotiate better rates absolutely you know and what it did actually as well it put me into different industries so as a result of helping people with their credit we were able to get into the real estate industry because so many people again 75 percent of most realtors their clients have bad credit so every 10 people that they talk to only two of them can make the deal come true only two of them could actually go through on the deal right so that's business that they losing because the average house in much so far they selling for about three hundred thousand four hundred thousand right right so that's the twelve thousand dollar commission realtors are losing because a person have a full credit score that person might have the income like I said they taxes already prepared so they lose in business already started doing it approved for a loan exactly so we started partnering with real estate agents mortgage brokers to help them help their clients so they create their own pipeline of clients instead of just trying to sell people everyone everybody can be stole right away on a mortgage we helped them repair repair more responsibility for the customer educate them on credit right so it's not just a process where we just fixing the credit they educated in the process we help them overall it's a financial literacy program credit period is the flagship product we provide because most people need it but once you come on board we have additional financial services to help you put your photos so I come to you and I say hey Ashley I need some help I saw you on grants show I got a I got a same situation I got a five 20 score man I make 80 grand a year I can't get a loan for anything trying to I'm trying to get it do some of the stuff grant says what what how do i what do you do what's the first thing you and I do well first thing what we do we pull your credit to see what's ever affecting you and negatively right now when you pull I'm sorry to interrupt you but when you pull is that is that considered what you call it think that one of that yeah yes it's the heart pool but it's not gonna affect you you probably lose two or three points on your credit report but again it's the so we can't get a detailed analysis what's going on your credit report okay once we do that we send you the dispute letters in the mail all you have to dispute letters yes and the reason why we send the clients to dispute letters because whenever you hire a third party company to work on your credit and the letters coming from them the credit bureaus look at it as a frivolous dispute when it's coming from you declined they think that you the client is leveraging your legal right under the Fair Credit Reporting Act to dispute the negatives on your credit card so you send those letters off to the credit before you send me the letters you tell me what to say although the letters already prepared yeah all you have to do or whatever right and then we dispute whatever negatives on there you sign them send them off to the credit bureaus by law they have 30 days max 45 to respond and then if they don't if you don't get a response in 45 days because a lot of these companies right if they don't research they just don't have the infrastructure respond right some some don't and again you have a lot of cases where like mortgage companies went out of business yeah true the financial bubble and um yeah they can't verify anything as a result they have to remove that off the clients credit report so again we have people who have negative items and then we have people who don't have an established credit so what we do if a client and even in that client might have negative we still have to make sure that they have some sort of positive reporting on the credit void so you need to have a car payment we help them get secured credit cards so they can it's that establishing positive lines of credit we can also report a person's rent in history so if they weren't in our home our apartment we can actually go back two years I have that reporting on their credit report you know most people outside of their car note their rent is their biggest bill uh-huh and the only time that's gonna hope report it right you know most times the only time that gets reported is if they get it fixed on their credit report right but we can actually go back two years have that report on your credit puss you can actually show that you take history yeah it's a richer because I never thought about the rent but the rent is an obligation yes 10 months 14 months 18 month lease yes so that people should be putting that on as part of their credit yes you can't get your rent to reporting on your credit how do I do that well so we have a service to help people without as well okay yes so I come to you either because I have no credit and I need a score you can help me do that you can help you do that as well or I have a score issue I got a score issue I need some some things to remove right so what's the chances you get to help you help me with this like I've come to you and I'm gonna be like good I'll give you how much what are you charge for that service so the services it's a slew of financial services right so we have what is call our protection time membership and you get credit restoration you get a will just power of attorney LifeLock to protect your personal identity our financial lockbox that's zero to help a client get out of their credit monitoring they also get access to a credit attorney if they have any legal issues we are someone to represent them and quote no additional costs right because you have cases where someone might be suing them that correct tech trying to collect or I have someone to represent them because a lot of people don't know what to say or in those cases um so with all these services that we provide it's only one hundred and eighty dollars a start it's a one-time $99 activation fee $89 a month guys the fools if you don't do it like you just and you were foolish to do business with the devil then you didn't pay the devil and now you got a way to dispute the devil wait like imagine being in Hell and you get to say dude I'm in the wrong place you got to let me out bro look at this the Fair Credit Act you gotta let me out he's like all right you got an out so this guy can help you do it okay the name of the company is power of credit I love the name of the company you registered that well the come this is a branding power credit that we created for our team the company's true financial education certified an shal education yes financial am I gonna learn something when you do this when you put me through this like you're gonna put me back in charge so absolutely again it's a process where the clients are involved they they get um updates on the credit report we educate them how to use their credit again most people don't know 80% of credit-card let's say you have a $300 credit card and multiply that by 0.3 that's 90 dollars yeah right yeah five hundred one hundred and fifty dollars a thousand dollars three hundred dollars right you keep doing that was a credit my line if my line is ten thousand you're saying only you start 3000 3000 but what if I need more money if you need more money understand that what happens if you go over that then your credits goes down the drop but if you keep making those payment it at 30% over five six months was gonna start happening the credit card companies are gonna start signing increases in the mail because you showing them that you're using your credit responsible to the assassin you increases and it's up to you know why are they doing it why are they sending me increases because again you know my momma used to say when we cuz my mom loved to gamble in Las Vegas so I'd bring her twice a year I'd bring her to Las Vegas we were the best of friends and she would always tell me I said mom should I take insurance on that black jo21 hand she's like if they offered to you in this town you say no well if you want access to more money again yeah that's that's based on under specific so dude how do people get like all the people that you see and all the people you work with and all the people that you've helped like how do people get in trouble how do what what is that the similar thing that caused these people to get in trouble financial literacy people aren't educated about credit people you know when I came into United States nobody educating me about credit yeah I showed up but when you got a credit card did you you you you had to know you had to pay people back I mean yes you you know that but at the same time again you give a 18 year old a credit card right and I'll guess what it was gonna max it out and probably never paid like what he needs he needs a class to tell him hey bro you're boring more money than you can pay back well again you know I'm saying like like I know that there is some financial literacy thing but at some point there's like just financial irresponsibility yeah I mean people want to likely just wanna you know max those card out they don't care yeah you know and then as they start getting older and realize you know what my credit is very important because I can't get anything unless you have a cash you want to pay cash for everything but you ought to be able to have real to leverage and be to use someone else's money to do the things that you want get access to you know houses getting the best interest rates on things that you're purchasing then you have to be educated on credit because it's gonna affect you even hiring some people even lose their jobs because of a poor credit score don't get a job because you won or right you have military people if they don't have a high credit score they have something anything things on their credit report they can actually even lose their military clearance Wow so your credit is very very important you guys get it got to get this thing handle you can't live on this planet without credit okay you're gonna probably need some of this like I always say man you're on an economic planet this planet is about economics this is real as gravity and credit if you don't have credit if you can't borrow money if you can't negotiate with the bank I'm working a deal right now okay I'm working a deal right now with th-th is one of the biggest credit union lenders in the world they basically have all the money for all the teachers in the United States so the teachers put into this annuity their job is to take care of it's called th well I'm gonna go shading a loan right now it's one they wanted 1.57 over the 10-year Treasury so I went back to them and said I need to be one point four or five like we're negotiating point 1/2 of 1% but the amount is so enormous that all of a sudden that over a period of time can make a big difference you know you can't negotiate with a lender if you have a bad credit score because they're gonna look at you like dude you're a victim right yep you never take advantage of absolutely and again most of the times is the people who aren't you know making the type of money that they want to make whether it be six figures or whatever this hasn't been affected the most because poor credit score they going get in cars they have in 20-some percent interest rates they wonder why they balance is not going now yeah your interest rate okay so you're gonna end up paying the bank's like 60 times more than a car dealer right exactly but you know what's interesting is people go and they spend hours and weeks shopping for a car oh like over 200 bucks right and I'm like dude you're getting killed on the rate not on the car all right any last words Ashton Henry the power of credit what's the name the company again I don't have that here so he's financial education services financial is that the website the website to connect with me is a official Ashley Henry dock official Ashton Henry calm okay and how can people write your ads for call your company or how can people thinking a hundred eighty bucks man so you know they can go to that website we have a quick this product information how everything works also we've been able to individuals have the ability to build their own business as well with the company which is what I've done build a team of over 26,000 people in the last three years mortgage brokers real estate agents people that's looking for a different source of income to the opportunity and being able to help quite a few people you know walk away from the job earn six figures so you can t you teach people how to do this so they can they can go out and basically ups a little the business around it how many how many people have bad credit in America over 63 million 63 million that's explained percent of the population over 60 and they're not all eighteen year olds I guarantee this in sixty year olds right I mean again credit uncles aunts mom to dad credit bad credit is there's no discrimination with bad credit yeah yeah you have a lot of people who are financially set with a poor credit score you have people that's making millions of dollars with Apple credit school yeah right and then you have people who may not be making a thirty thousand a year but their credit score is eight hundred or 750 so I mean it doesn't matter you especially did I know a lot of guys making four and five hundred grand a year yep and I guarantee you they are tapped out on every card they're late on everything because they're overextended they're trying to show off or paying for the Country Club how much of that do you see it's not just stupid it's just dumb right I mean we have all different types of cases come on man give it to me realize how much if it is is people just showing off like a large percentage a lot of your centers people just you know it's not financial illiteracy that's just fake oh I know well you we need to come up with a name for that wait you need to have a whole freaking chapter in the book like don't be a pretender don't be a pretender dude it's going to cost you wait okay all right you guys get your credit score fixed okay are you gonna spend the rest of your life with the devil I know a lot of people go to church on Sunday spend the rest of the week with the damn devil you guys are clothing decisions like you've got a whole food you go to Whole Foods man you guys worried about the groceries what they cost and then you get tagged 23 percent but the groceries that your kids already ate and probably complained about in Cocoa Puffs are killing it Kobus cocoa butter you and you guys spend all your time looking for the best deals won't even buy your kids organic foods because you're worried about the price but the truth is you paying another 23 percent to visa the devil's daughter Master Card the devil's wife right American Express the devil son damn devil man go ahead you were gonna say something you know for we also have the people also have the ability to partner with us again being able to help quite a few people join our organization and build a successful business with our company all across what's my business here yeah I mean right now my entire team we're doing roughly five million a month in business now I didn't know we were talking about people making money oh yeah because that's much more interesting to me than the devil because if I can make enough money I can pay the devil off right I mean really that like you guys got to get an offense here that's what I was saying about the defense offense thing the defense is I got to fix my score so I'm not getting freakin banged on but this dude came to America you got papers you can you you you legal now right he's straight legal man even though he doesn't sound like just straight legal but that five million a month makes him legal right so he gets approved ear he gets his financial literacy going he gets a business going he went from you know his soccer injury to the tax business to like hey I'm gonna I'm gonna fix my credit score notice he turned his problem into an opportunity and now he's opening that to you fix your and then then once you fix your game okay start making some money with this yep you know for everyone that comes on board they have the ability to sign up customers and also build their own team we work with a lot of real estate agents mortgage brokers tax professionals people are looking for opportunity you have the ability to get paid for a building organization you get a lot of bonuses as well we have a six hundred dollar car bonus to us a Mercedes a Cadillac or Escalade a fifth you can go from 600 to 1500 gentlemen we're gonna fix your credit and then get you back into trouble again okay Hey look if you can make money you can get out of it that way okay that's the way you get out okay somebody said man you know you know grant you're not going to heaven this dude told me the other day you're not going to heaven I said hey bro okay again I'll take care of that when I get there wait okay right now I'm trying to get my hustle on trying to get my money right you can't get your money right if you're playing defense you're not gonna win the game if you're constantly paying 20% of your credit course check this dude out we'll have a link below for him to get him appreciate you spending your time with us this morning man you're an awesome dude okay I met this guy the first time I met him was in Atlanta what was I doing there you came to speak at a conference what were you doing it I was at a conference dude conferences bring people together I'm gonna see about 35,000 of you crazies ten Xers in Miami at the Marlins stadium when is this going to be February 1st 2nd 3rd don't you miss this thing I'm bringing jay-z in you know he had bad credit ok Ashton probably fixed his damn credit right Ian hooked him up would be okay you know Kanye Kanye fixed his credit and it up all over again ok so I'm bringing all these students in Jay Cole is coming in with his watch alert he's coming in I'm bringing Will Smith in dude I'm bringing everybody that's ever had bad credit and turned their life around that's right it's gonna be called a 10x growth conference 3 and credit restoration Woodstock hey thanks for watching they ask a pro if you know something if there's something you're great at like Ashton is and you can help my audience I need you to reach out to John or Natalie at Grant Cardone comm and I got to get you in this chair [Music] hey welcome to ask a pro you ready I'm ready dude are you ready okay because today we're talking about one of my favorite topics and I know it's going to be one of your favorite topics Ashton Henry is an expert when it comes to credit everything you need to know about credit cards we're talking about the devil now this dude lived with the devil and found out how he operates and basically if you've been spending time with him he can show you how to clean up your past okay just to give you guys some statistics real quick credit card debt in America this is just one little country 911 billion dollars $15,000 per household mortgage debt can we talk about mortgage debt today not eight point nine trillion dollars okay you guys think Amazon is big that's eight point nine trillion dollars that recurs every year average household 180,000 bucks auto loans one point two three trillion 27,000 per household student loans that's that's stupid right there one point four trillion dollars little kids just like little victims mama talked you guys into that to you the people that love you the most talk you into that that right there your mom is like don't get credit card debt don't use visa but go to school all others is thirteen trillion dollars I'd love to know what to all others is average percentage rate on a credit card today seventeen percent man it's good to have you thank you very much okay so how do people get in this situation and then we're talking about how to get out of it what happened well I mean financial literacy on a hold is not really being taught in United States you know a lot of people are being edgy the right way how to use their credit cards how to manage it that effectively and that's what we come in to help people take care of their finances and he like you said earlier a lot of people are put into situations and they're not educated about it and they make a lot of mistakes and we just help them get those negative things off their credit report leveraging the Fair Credit Reporting Act which is passed the what they call the Fiat credit reporting of fear Credit Reporting Act which is passed by Congress in 1971 oh the fair fair yes I thought you said the fear credit said ah yeah I do I do fear credit the fair credit report okay and what about that and basically it's a consumers right to dispute any negative item that's reporting on their credit report but it'd be a bankruptcy a full closure a tax lien repossessions to in law it doesn't matter what that negative item is be able to dispute those things get them off their credit foot so we can get people and you start with the mistakes that they've made in the past because what what happens if let's say you know grant young grant he's 25 26 years old he's got a bad credit report he took on too much credit can't handle I can't keep up with the 17% maybe I got a combination of a student loan an auto loan and some credit card debt how do I and I got behind I just got ahead of myself a lost my job something happened how do I sort how do you help me fix some of that okay great so what we actually do we'll we'll take an analysis of your credit whatever is negative on there and again leveraging the Fair Credit Reporting Act we're able to dispute any Neronian inaccurate or you know absolute items on this credit report so whether again the student loans that the the other debts that you have on there we able to dispute them again we're looking for the inaccuracy in the reporting so what what can be is there always it I mean it could be inaccuracy could be your name spell around it could be the address the a docket number of the the late payment reporting and it's not accurate so we're looking for those things to help you get those negatives oh yeah yeah I've heard some people say on the on the repair end some of its just about overwhelming the financial institution is there any validity like there's groups like yours that can say hey we're just gonna overwhelm them with paperwork they're not set up to do it yet not only that a lot of companies that you might all in the past they're probably other business so when we send those those letters to the speed was negative on the credit port and the credit bureaus send those letters to various parts there's no response so they have to remove those things off your credit report as well what's your what's your success rate with with let's say I have some let's say it's a legitimate deal by the way it probably yes most in most cases right like I didn't pay I'm late on my car payment I'm balancing two thousand eighty even today I'm balancing between okay I'm not gonna pay my student loan today should I be paying the student loan back should I yeah I mean private student student loan sister government loan so you have two peoples think I can't get away from thinking illegal okay the auto loan like I was late on that I'm late on my art my student loan but I keep paying my credit card I'm timely on my credit card so what percentage of those can you even though it's legit I'm late yes so what we do you know based on how many late payments you have on a credit point instead of deleting the entire history off your credit pool we can actually dispute the late payment to have it forgiven based on again how much late payments you have on there because that car payment even though you have negative late payments on there it's still a factor and determine what your credit score is so if you remove the history all together what's gonna happen your credit score is going to drop so you can actually dispute it to keep those big dos late payments be updated to reflect paid as agreed so you're saying if you defend me I hire you I guess right how are you and then and then you just you don't want you don't want the the balance to go away explain that I don't I don't understand well okay so because you said my credit would go down if right so listen for instance you have a lead let's say you have a car [Music] [Applause] [Music] marketing and promotion is the lifeblood of your business if you tried Facebook Instagram LinkedIn YouTube and have no clue why they're not getting leads followers or any traction have you worked with other agencies and then nothing happened 10x productions grant cardones digital advertising agency is now available for you to get on track with social media lead generation full-scale training and production will get you the leads and give you the training to understand your social media and how to build a brand better just go to Cardona advertising com that's Cardone advertising.com - get your free marketing assessment and we will get you on the road to the right marketing and all of your business needs visit Cardone advertising right now you

Channel: Grant Cardone

Views: 36,704

Rating: 4.9001918 out of 5

Keywords: debt, how to fix your credit, yt:cc=on, income, grantcardone, credit cards, loan forgivness, grant cardone, loans, credit, how to pay off debt, credit repair, money, banks

Id: C40VR0Y_3KQ

Length: 41min 13sec (2473 seconds)

Published: Mon Aug 27 2018