Charles NoonanPresident, Landbank University · Real Estate Developer & Instructor

HOW TO GET BUSINESS FUNDING WITH BAD CREDIT😳#entrepreneur #businessfunding #creditrepair #business

22 Nov 2024 · 1 min

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1:00

Short YouTube transcript offering practical advice for repairing consumer credit and pursuing business funding with a low score. Speakers recommend contacting creditors to request reversals for new late payments, disputing derogatory items using consumer laws (FDCPA, FCRA), and disputing with the three bureaus. They also note Community Development Financial Institutions (CDFIs) may lend to applicants with mid-600s credit if a credible business plan is provided.

Chapters

You have a 750, 800 credit score, you get 138. Late today your score could tank about 50 points, 60 points. So you want to make sure your profile is clear. Share some game on how they could get it off. We dispute, so we do a lot of sumo law disputing, right? So with late payments, sometimes you can actually call up. If it's a new late payment, I suggest call up the creditor or debtor right away and try to talk to them, tell them it's a mistake. XYZ especially you have a long standing relationship, sometimes they can reverse it. So, so that's number one. If they don't reverse it, then you have to dispute it. We do a lot of consumer law disputing. As far as getting things off your report, we'll send some laws at them. Use a lot of the fdcpa, fcra, which is a lot of consumer laws. So you'll send those in and dispute it with the experian, Equifax and TransUnion and dispute it with the company as well.
There's a lot of people out there that think just because they have bad credit at the time that they're done as well. Could still have a 640, 650. At a CDFI you can have a 620, 64650 credit score as long as you have a business plan. What they'll do is they'll lend you the money but also attach a.