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
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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