I asked a question and a black financial advisor went off on me…
- Thread starter BrothaZay
- Start date
This is what confused me as to why it makes no sense. Because if you can pay in full then you have no interest at all
If you’ve got little to no credit or just bad credit, I guess this strategy helps if you want to build your credit up.
Toe Jay Simpson
Searchin’
I skimmed to a random part of that video and she’s talking about her bankruptcy
Yea, my financial advisor really wanted to make sure I understood what he was saying. He even repeated the parts I didn't understand.
How much do financial advisors cost
I should be more knowledgeable about this, but I don't pay him. I think he's not even allowed to get too big of a gift from his clients. I think he gets paid for managing accounts within his company.
Hoodoo Child
The Urban Legend
Poor customer service. 
Is she on Yelp?
Is she on Yelp?
that hoe got a smoke ring goin down the crack of her ass....bet her inner thighs dark too...fukk her
BushidoBrown
Superstar
"Zay Breeze" 
So I'm not watching this video,
But based off the screen shot, it seems to me like she's trying to teach financial literacy/responsibility.
And if you're a teacher....it seems really bad to say "some of you won't get it"
I mean...you're a teacher. You're trying to teach. It's your job to make sure the people asking you questions "GET IT"
Am I wrong?
At least in school and college teachers are trained. Unlike these scammy ‘don’t go to college’ grifters. Why do something as serious as teach, even online, and not know the fundamentals of doing it?
*insert D Wade watter bottle gift* (n/h)
Lootha VanDraws
'The Night I Fell in Love' is the GOAT R&B album
That shyt get me tight,
and it's not okay when you try to hurt me,
when we fukkin' off Perkies
And we both from the Bronx, so I
know that you dirty...
-Ice Spice
and it's not okay when you try to hurt me,
when we fukkin' off Perkies
And we both from the Bronx, so I
know that you dirty...
-Ice Spice
Depends. You have commission based insurance agents claiming to be “financial advisors” but to get the best advice, you def want to go with a “fee based” financial planner or an advisor who is a fiduciary. Meaning everything he tells you has to be in YOUR best interest or he could get sued. Most charge 1% of what ever assets you have with them. I know a few if you have questions about where to start
It's basically a credit score hack for people that want to boost their credit with money they already have.
Here is an example.
1. You have $2000 in your savings account.
2. Request secured loan for $1000.
3. Use a large portion of the $1000 you have left over in savings to pay down the 1000 secured loan balance to $100
4. You now have a positive trade line reporting to the credit bureau's
5. The $1800 goes back into your regular savings account within a few days.
6. Pay the $100 balance left on the secured loan incrementally to keep the credit line reporting and boost your credit month to month to month.
Generally speaking the longer you keep it open the better. You don't want to pay it off in two months, but 12 to 60 months is reasonable depending on the initial amount you put up for the loan.
Also, I'm not advocating for or against, but this is basically how secured loans work. You can repeat the process over and over as long as you got the money to put up. That then opens up doors for real credit lines for unsecured credit cards, car loans, personal loans depending on your credit score.
If you got big money sitting around in a bank account with bad credit or no credit it can help you if you use it wisely. This doesn't help you as much if you have unpaid or late bills on your credit profile, so anyone who would want to do this needs to keep that in mind and clean those up by trying to get it off your report so they don't impact your credit negatively.
Here is an example.
1. You have $2000 in your savings account.
2. Request secured loan for $1000.
3. Use a large portion of the $1000 you have left over in savings to pay down the 1000 secured loan balance to $100
4. You now have a positive trade line reporting to the credit bureau's
5. The $1800 goes back into your regular savings account within a few days.
6. Pay the $100 balance left on the secured loan incrementally to keep the credit line reporting and boost your credit month to month to month.
Generally speaking the longer you keep it open the better. You don't want to pay it off in two months, but 12 to 60 months is reasonable depending on the initial amount you put up for the loan.
Also, I'm not advocating for or against, but this is basically how secured loans work. You can repeat the process over and over as long as you got the money to put up. That then opens up doors for real credit lines for unsecured credit cards, car loans, personal loans depending on your credit score.
If you got big money sitting around in a bank account with bad credit or no credit it can help you if you use it wisely. This doesn't help you as much if you have unpaid or late bills on your credit profile, so anyone who would want to do this needs to keep that in mind and clean those up by trying to get it off your report so they don't impact your credit negatively.