Good credit is essential integrity. If you have a poor credit record, it tells people that you cannot be trusted to pay your bills. So, who is going to want to loan you money when you have a record of not paying it back? That would be like giving a horse some fresh hay and expecting him not to eat it. Merchants of any kind are not fools. Neither are bankers or loan officers.
Nope, if you expect to get wealthy by inventing something, writing something, reselling something or even providing a service, you'd better find a way to repair your credit. You've got to have cash in order to draw attention to yourself. If you don't have cash, you've GOT to have good credit and know how to use it correctly. Sure, people like to take cash, but come on.
How much cash do you have? If you're aspiring to be a legitimate business person and become wealthy, you are going to have to be able to borrow some money so that you can either start your business or expand your business in the future. Unless you are a street corner drug dealer, just waiting for the cops to bust you, it will be necessary for you to legitimately claim and provide proof of your personal integrity. If you don't know what you're doing, credit repair can be a long, arduous and very frustrating task. Most people give up and throw their hands in the air.
That means they'll have to spend the next seven years buying EVERYTHING with cash. No creditor will touch them. They can't buy furniture, cars, gas, or anything unless they pay cash for it. No credit cards will trust them, no merchant will trust them. Their honor and trustworthiness will be questioned everywhere they go.
They'll have to rent a place to live. No chance of purchasing a house or an investment property. If you think that seven years goes by quickly, think again. It's almost like a prison sentence when you have no credit. Very few people want to do business with you and you exist on cash only. You'd better hope your job holds out.
However, when you have clean credit you can buy a lot more, you can borrow a lot more and you can live a little better. Good credit is like having freedom as long as that good credit is not abused. Abusing good credit is just like betraying a trusting friend or lover again (shame on you!).
Don't do it! With good credit you can borrow that money for the great idea you have. You can find a way to get out of the rat race and into your own business. You can travel or buy a new car. You can provide for your family and yourself.
Keep your credit clean. Hold on to your freedom. Don't abuse your privileges.
Take the first step to creating great wealth. Find true wealth and the freedom that accompanies it. Use your credit wisely and become wealthy beyond your dreams.
Get a lot more information about creating wealth, credit, credit repair, debt and debt reduction at http://www.littleguycredit-info.com
