What is a Domino Effect and how it influences human lives?
Domino effect is a chain reaction where the outcome of one event impacts the outcomes of other subsequent events. Sometimes, an extreme form of domino effect is also termed as Butterfly Effect where a small butterfly-size event tremendously impacts all other events. Domino effect can be seen impacting human lives in every stage of life. A person murders some stage and his entire life is that of a convict. A student secured admission in a top rank college and his entire career keeps bestowing upon him lucrative opportunities. A couple gets divorced and the life of the entire family changes accordingly. The impacted outcomes further impact the lives of people associated with them and the chain reaction goes on. But an interesting part of this chain reaction is that in human lives, people cannot predict how a certain action taken by them will influence their future and in ignorance of this they inadvertently commit mistakes for which they have to pay heavily in the future.
How does the domino effect impact the credit profile of a person?
As in every aspect of human lives, the effect of chain reaction is similar in the credit profile of an individual. In the present age when life moves at a faster than ever pace, people need resources to finance their decisions. A student seeks credit to meet education expenses, a businessman needs a credit line to finance daily expenditures, a serviceman needs a car loan or a house loan to make his life convenient, a bachelor needs credit cards to party every Saturday and the list goes on.
However, with every penny borrowed comes an obligation to repay within a stipulated period. How much ever it sounds surprising, a detailed record of how punctual a person is in these repayments is maintained by various financial institutions and a certain credit score is assigned to every individual. This credit score becomes helpful for all those creditors whom that person might approach in the future to seek loans. Creditors can determine how trustworthy the borrower is and what is the probability that he will repay the money on time.
With this system in the background, even an inadvertently late credit card payment can deny a person any other loan that he/ she might seek in the future. This is exactly where the chain reaction starts. A late payment results in a loan denial and the loan denial further results in an additional derogatory entry in the credit profile. This process goes on to spoil the credit profile of an individual. A low credit score can be frustrating in today’s world and the only way out of it is to either be extra careful in keeping everything spotless or to correct the tarnished history.
How does the domino effect in credit lines impact businesses?
Similarly, as it impacts the lives of individuals, a bad credit score affects businesses and the impact can be disastrous where there are multiple stakeholders. Just like a person has a credit score assigned, every large and small business has a business credit score assigned to it which determines how much trust can be put in business while lending money. And the sad news is that 72% of the business owners don’t know exactly how to evaluate their business score. This leads them to make mistakes in unchartered waters and eventually denies them a loan at some point or another. Without loans, a business simply cannot sustain itself. A business needs a continuous credit line to deal with suppliers, vendors, and to meet expenses of day to day activities. Companies also need huge amounts of loans to launch new products and implement various marketing strategies. In the 21st century, organizations have also started taking loans to transform themselves digitally to sustain in the neck-to-neck competition. All these areas are essential for the continued success of a business and a denied loan can affect one or all of these areas to produce catastrophic impacts on a business. If a business gets impacted, the domino effect can be unusually large taking down livelihoods of employees, owners, customers, vendors, clients, etc.
However, it is interesting to notice that a missed or delayed repayment is not the only factor that impacts the credit profile of the business as is in the case of individuals. When it comes to businesses, several levers are working at the same time to impact a business credit score. Even if a business fails to register itself properly or fails to get the desired licenses, the business credit profile gets impacted poorly. Businesses also need to ensure that all their fillings are congruent with state and federal filings. Even if the business is successful in keeping doing everything right, associated vendors and suppliers can impact their business credit profile. When vendors fail to report payment history with the business bureaus a derogatory entry is produced in the business’s credit profile. Owing to these multiple factors, the world’s most successful CEOs and MDs take special care to maintain a respectable business credit score so that they don’t get to realize their darkest nightmare.
A bad credit profile especially impacts entrepreneurs who need loans now and then to either set up or expand their ventures. This is a cohort that is responsible for all the innovative initiatives that have taken place in a nation and it contributes heavily to the economy of the country. A denied loan to an entrepreneur doesn’t only impact his/ her venture but also produces huge losses to a country’s economy. Again, both with entrepreneurs and businessmen, the only two choices are either to be overly scrupulous in all their dealings or to find a way to alter the history.
How do students suffer from the problem of poor credit profiles?
Education is the US has always been far from affordable but in the 21st century, students have started to come over this problem and opt for student loans to secure their future and follow their dreams. Some students can secure lucrative positions in big corporates, and they don’t face any problem with a student loan. But the students who land in substandard jobs find it difficult to pay their student loan EMIs on time and end up in crippling their credit profiles. Repayment of student loans on time is of utmost importance as it constitutes 35% of the portion of your credit profile. Hence, people with student loans should also be very careful in maintaining an impeccable credit profile to avoid any loan denial in the future.
How can individuals or business entries alter or change their credit history and who becomes their savior in the tough times?
History cannot be changed and for many decades people couldn’t do much when their credit profiles got spoiled.However, with the advent of technology and innovation, several credit repair specialist agents and consultants have emerged all over the globe who have people with their credit profiles. They have the flair for credit profiling system and with their expertise, they can conceal historical derogatory entries from the credit profiles to such an extent that they don’t remain relevant anymore. What they do is magic and when the risks of odds are high, one should not shy away from taking professional help.
Who are 007 Credit Repair Consultants?
They are a bunch of credit repair expert California who have been helping students, entrepreneurs, and businessmen with their credit profiles since 1989. They also provide some auxiliary services to help their clients with things like debt validation requests, goodwill letters for late-payments, and cease and desist letters. They have always put the customers above all and their diligence and hard work have resulted in several customer satisfaction testimonies that can be seen on their website. Their best in class support service ensures stress-free experience unequalled in the industry. Just for the sake of an example, a testimony is included in this article and it can be seen below:
“Do not spend your time trying to get your credit reports fixed. Just go through the 007 Credit Agent. It has been less than 2 weeks and the things I needed to be done are already taken care of! Thank you, thank you, thank you”
-Kelly
Most of the customers have seen their credit ratings improving withing 90 days opting for 007 services but the exact timeframe can be more than 90 days in case of complex credit profile cases. Nonetheless, 007 provides their clients with 90 days money-back guarantee in case consumers don’t feel satiated with their services. This very aspect makes them a leader in the US when it comes to credit score repairing.
How do 007 achieve what they claim? How the credit profile of a business is improved by 007 consultants?
At 007, they have dedicated teams for students and businessmen.
Students who are facing problems in paying their student loan EMIs on time can contact 007 to take their professional help to easily manage these payments. 007 can also secure them a payment reduction or student loan forgive they qualify for it with an income-driven plan. They can also help students with the information on whether they qualify for a lower interest rate student loan or not. With their expert services, they ensure that students no more suffer from the sword of federal student loans anymore.
With businessmen and entrepreneurs, their approach is a bit advanced.
The first step here is to make sure that a business is set up properly with congruent filings and registered under the right name. Choosing the right business name is important as some names can get an automatic denial. They make sure that your business has a website and an address. They also ensure that your business is open, active, and in good standing.
The second step is to make a business activated with three major business creditors. For any business, Dun & Bradstreet, Business Equifax, and Business Experian reports need to active. Dun & Bradstreet is the world’s leading source of commercial information. Many suppliers, lenders, and leasing companies share and pull business credit reports from Dun & Bradstreet to assess the creditworthiness of businesses.
The third step is to establish business credits of the vendors and suppliers with business bureaus 007 setups 30 vendor accounts with business bureaus that will make the business ready to get store and fleet credit.
Step 2 and 3 get a credit profile and score established with the three top business bureaus. Once all of this is done, business starts securing revolving credit without a personal guarantee or credit check. During the final step, business credit builders of 007 help to obtain credit with places like Amazon, Walmart, Dell, Apple, Costco, Sears, BP, Chevron, Sprint, and most other major retailers with individual credit limits of $10,000-$50,000. They also help businesses in securing credit with fleet services and auto vehicle services.
007 helps businesses through the entire business credit building process for obtaining initial vendor accounts to start building business credit, obtaining high-limit store and fleet credit cards, getting approved for cash credit, and auto vehicle financing, all of which require no personal credit check or personal guarantee.
This is a kind of magic that 007 does to poor credit profiles and help businesses as well as employees with student loans to accomplish their dreams without any kind of impediment.
How can one contact 007 credit agents and how can one avail their services?
007 credit repair agents have an online presence on https://007creditagent.com/ where their services can be browsed through and all the necessary information can be gained. To avail of their services, one can, write them to info@007creditagent.com or call them at +1 949 258 7026. Apart from this, they also have their presence on all social media platforms like LinkedIn, Facebook, and Instagram. One just needs to give them a shout and they are ready to put their best in solving their client’s problems.
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