Fired by lease dispatcher

The LLC won't protect assets as it is sold by the night infomercial.

If you tank your business there is still a possibility that the creditors can go after you to recover their losses, this is because you are not a corporation with multiple officers. The LLC protects people from liabilities that have to do with general stuff, like an accident at a store or a defective product - when the defect was unknown.

In this business, you have to be careful, because a bank will look at the officer(s) of the company to see if they are stable enough to lend to - right now we have easy credit but that may change any time.

 

Like I said,.. what ever you think is a good solid stack of cash to start with now,.. is probably no where near what you really need to survive.

Cash is king. It always will be. It is probably the most time consuming and difficult way to get to where you want to be. But ultimately it will be the safest and most rewarding way to do it.



Hurst

 

I think your first post was edited so Im missing the whole story. May I ask how becoming a student instructor was going to fix your credit? Maybe with increased income from training the student to pay your debts? I think the system is skewed when lease operators need to bring on a student to make any money.

 

Don't think doing lease purchase for swift is really running a small business you can make up a name if it makes you think your running a business if you like.all its just a job.As far as your credit score yes I can help PAY your bills.

 

You can throw your old and stinky shoes will falt on a truck company lease trucks

 

I recently attempted to buy a truck much like you are looking for. I have a FICO score of 763 and $36K in the bank, $20K of which I was going to put up as my down payment. I was looking to find a truck in the $55-60K range. I finally found a truck and got approved for $55K at around 3%. I had 2 years to pay it of with payments of approximately $1,200/mo.

By that time I backed out of the deal because as a more experienced forum member advised, “…you need around $35K in reserve.

With a 590 FICO score and no money in reserve, you have a recipe for disaster. The truck your looking for is going to run you $65K+, which means you would be shopping for a $45K loan which ain’t going to happen without an excellent co-signor.

I was exactly where you are 8 years ago. Build credit. Start with a secured credit card and USE IT! Take every opportunity to buy big ticket items on your secured card and establish a record of on time payments. You can build your credit to where I am in as little as five years. Save that $20K, that’s an excellent start and good luck. The fact that you put together a sizable amount speaks well of you. Be patient.