We interview the King Of Credit Yan Stavisski who says, “Getting your credit straight and understanding both the dangers and the opportunities of it in 2020 is a must, for every single person over the age of 17.” As someone who has helped thousands of people fix and leverage their credit for the purpose of starting a business, investing, and achieving financial freedom, Yan Stavisski is a proven source of information when managing our finances and setting our priorities when it comes to something like credit.
Yan explains that we are on the brink of a massive recession, and the effects are already being felt by millions as of September 2020 with astronomical unemployment rates, defaults, and business closures. With this, people’s credit tends to suffer and the majority have no clue what to do but let life kick them in the rear. Not only that, people are not even considering the fact that credit can be used to create wealth in times like these but for this, one needs to be prepared well ahead of time, Yan says.
Before even thinking about using credit for anything but getting good rates on cars, being approved for an apartment, etc., Yan says “You need to understand the risks and you need to understand that if you already have bad credit, especially due to events that happened in 2020, you are in luck!”. While the looming recession and COVID leaving millions unemployed and defaulting on their debts, letting their credit suffer, banks and creditors have NEVER been more forgiving to those who suffered as a result. This is not to say that they will forgive debts but they are more than likely to work out better payment plans, allow the removal of negative remarks previously reported on your credit profile, and much more. Yan explains that the first step in your credit journey is to fix your credit and working with your creditors in 2020 to get it fixed has been the BEST time to do so and everyone’s minimum credit score goal should be at least a 720.
One other critical mistake that Yan sees the majority of people making is that they use their personal credit for business purchases or investments. “This is the biggest mistake you can make because defaulting on a personal credit card or loan will damage your personal credit while doing the same on the business side of credit will not report back to the personal side in most cases,” Yan says. Based on this, it is critical to keep all business spending and investments on the business credit side and make sure to stay on top of your personal credit.
“Within the next few years, we will see massive opportunities to acquire undervalued assets like real estate, businesses, and much more that people will be selling at a discount, and those who are prepared not only with cash on hand but a great credit profile with a great understanding of how to leverage their credit will allow themselves the opportunity to really capitalize on the coming recession” Yan explains. It is evident that credit is something that most people don’t understand, yet they have it at their disposal to leverage for obtaining financial freedom and in 2020, Yan has made it evident that people should really consider paying more attention to their Credit and learning how to actually leverage it for their benefit.
