July 22, 2024 • 24 mins
Ever wondered how financial literacy could transform your life? Learn from Sharice RDH, a veteran dental hygienist turned financial advisor, who shares her inspiring journey from the projects to becoming a financial advocate. In this episode, Sharice reveals how she conquered financial challenges while supporting her family through dental hygiene school and discovered the empowering world of franchising a financial services business for just $349. Her story is a testament to resilience and empowerment, highlighting the importance of understanding money management regardless of one's background.
We also dive into the wide range of financial services available, from consumer credit repair to business credit building. Sharice debunks common misconceptions about business financing and stresses the necessity of establishing solid business credit. She underscores the impact of misinformation on small business owners and emphasizes the critical need for financial education in underserved and minority communities. Sharice's dedication to uplifting her family and empowering others with financial literacy is both motivating and enlightening, offering listeners practical steps to bridge generational financial gaps and foster successful entrepreneurship. Tune in to uncover the transformative power of financial education and gain valuable insights into achieving financial health.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
All right, everybody, welcome to Dentalist Season 3.
I'm here with Sharice RDH.
She's a Brown Bear RDH dentalhygienist.
She's been in dental hygienepractice for about seven years.
She also is in the financialadvisory aspect of her career.
So she's out of the op.
She found her side hustle, herfirst love in finance, and she's
(00:23):
helping us get our credit righttoday.
Like if you've seen her, ifyou've been following her on
social media, she's droppinggems credit repair, what to do,
what not to do, y'all with them.
523 credit scores.
Everybody done been there, I'vebeen there.
Okay, there's not, don't beashamed, but we gonna get you
right.
And there is a such thing as an850 credit score.
(00:43):
But do you really need that?
That's what I'd be.
Like, who cares if it's 850?
We're only going to get youknow.
When I went to lease my car,they was like it doesn't matter
if you have perfect credit.
Like this is the interest rateyou know.
So people don't understand thattoo.
So, um, I wanted to get someinformation about what you do as
far as the the financial aspectof you know, credit repair and
your team.
(01:04):
Like I see a lot of your team.
They're out here winning.
So, like I'm trying to be onthe team.
What's going on?
Speaker 2 (01:08):
yeah, so I mean we're , you know, nationwide, so we
have members in all states.
I was lucky to find where thisopportunity came to me, actually
from a friend that I grew upwith.
We went to high school together.
We both grew up in the sameprojects which we like.
Now we're like we grew up in thesame projects, which we like.
Now we're like we grew up, westarted it in the same project,
(01:28):
but now we're like building ateam together, growing together.
So it's good just knowing, likethe beginning, where we came
from and where we are now, wherewe're headed.
The opportunity actually cameto me.
He had posted about franchisinginto a company and you know,
when you're franchising justlike in a Chick-fil-a or
something like that they want somuch up front, hundred thousand
(01:49):
invested you have to show up.
And he was like you know it'sonly like 349 to franchise into
a company.
I'm like you know, own your own, start your own financial
services business.
I'm like, no, wait a minute,what it's like that's the lowest
is $349.
Speaker 1 (02:05):
I don't even look like you trying to scam me out
of $500.
What's Cash App scam?
What's going on?
Okay, go.
Speaker 2 (02:10):
No, no, look, I don't even like to operate a Cash App
for real.
We'll start there because theybe having too much going on.
And then I mean the great thingabout it.
Like me, growing up my family,we've been in the suburbs, we've
been in the project from thesuburbs back to the project.
So you know knowing both sidesof that spectrum.
But just growing up nobodyreally talked about money.
(02:32):
Like I knew really nothingabout money when I got pregnant
at 15, it was like me having myfirst bank account.
My grandma was like okay, youhave to have a bank account.
And I'm like I've never heardmy parents talk about a bank
account.
My grandma was, like okay, youhave to have a bank account.
I'm like I've never heard myparents talk about a bank
account.
My dad rarely even like dealtin debit or credit cards or
anything like that.
Like growing up in my house,you know that crown royal bag
(02:54):
under the mattress.
Like that's the bank under themattress, in the crown, in the
crown bag.
So it was all like new to me asfar as like how to handle and I
really didn't even know thedifference between different
accounts retirement account,different checking and savings
accounts until I actually gotinto the mortgage finance
(03:16):
industry In my undergrad.
I majored in biology and minoredin business finance because I
was like, okay, I'm going to goto dental school, have my own
practice, so I kind of need toknow.
You know the front and the backend of things.
But life flight after Igraduated, I just ended up
moving to Atlanta.
Me and my best friend and thatwas the first thing I was able
to get into was the mortgageindustry.
(03:37):
So from there I did that for 12years, even while I was in
hygiene school.
That's how I actually paid forhygiene school, working that job
, because otherwise I probablywouldn't have made it.
I had my undergrad degree, hadstarted my master's, so
financial aid was like, nah, yougot these advanced degrees,
you're trying to get anassociate?
Like you're moving backwards,we ain't giving you no money.
(03:59):
So I had to pay almost $900 amonth for hygiene school on top
of my regular bills.
Speaker 1 (04:06):
Back to financial literacy.
People don't know, just becauseyou have the degree does not
mean you will make the money.
So when you have to go back andgo for an associate's and
you're like, yeah, I can make,you know, $75,000 a year, then
it's one of those things likewhy wouldn't I?
But then the financial is likeuh-uh, what you doing?
You already had your turn.
Speaker 2 (04:28):
Because they're like, nah, we ain't giving you
nothing else, even though Iwould have been able to get it
if I was to go get my doctorateor something like that.
But they're like you're movingbackwards, so, nah, and I kind
of was discouraged a little bitbecause I'm like I ain't no $900
.
And then we even had thisconversation how they were
talking about how dentalhygienist, you know, you can't
work, you can't do this, can'tdo that, and I'm like so make it
(04:49):
through hygiene school withthese kids, a whole family, you
know, trying to make thispayment.
So the coke, like financialliteracy.
There was one thing, too, as faras, like, my credit score, just
being able to get differentthings, like even though though
my credit wasn't horrible, I hadlike a 668, but it was like
stuck there, it was just sittingand I'm like, why can't I get a
(05:11):
higher score?
What is going on?
And the reason being is becauseI had all these student loans
and all of them were at theirmax limit, like I hadn't paid
them down like to half or belowit, to where, um, my credit
score would move, and I didn'thave a mixture of credit.
So all I had was my studentloans.
(05:33):
My car was paid off.
I didn't have, like, anyrevolving debt, no credit cards
or anything like that and thiswas important about a credit
score that people don'tunderstand, like they assume
that oh, cause it's good.
Oh, I got, you know everythinggets paid on time.
Then I'm good, like my creditscore.
But then they get stuck.
(05:53):
They like wondering why.
And so when I started to learnhow credit works and how the
mixture of things works, it'slike, okay, credit mix is 10% of
your credit score, so you haveto have that mixture.
If you don't, you are losing10% of what your score is.
So I had to work around likehow to start getting credit
(06:15):
cards, because even though I hadthat 668, I was getting denied
for credit cards and I'm likeeverything is on time.
I got a good score, but Ididn't have that credit mix that
lenders are looking for toapprove you for anything.
So I had to start off, likewith the starter account, secure
a credit card to build up myrevolving credit, and then my
(06:36):
score started going, startedmoving from there, start
learning how to manipulate yourcredit score.
It's all a game really Likewhen you're dealing with credit.
You just have to learn how toplay your credit score.
It's all a game really Likewhen you're dealing with credit.
You just have to learn how toplay the game.
Having those maxed out creditcards keep your score low.
You want to keep it.
At least 30% or less.
10% is ideal of the creditutilization.
(06:57):
Most people think like oh, Idon't understand why, when they
look at their credit report, whytheir utilization is still high
.
When they're like, oh, I don'tunderstand why, when they look
at their credit report, whytheir utilization is still high.
When they're like, oh, I paidit down to 10% by my due date,
but the due date isn't theactual date that's reporting to
your credit report.
You need to pay by thatstatement date or the closing
(07:20):
date.
That's the date that'sreporting to the credit bureaus,
not the actual due date.
Your due date is to keep itfrom going delinquent, but the
statement date is what's goingto report on your utilization.
Speaker 1 (07:32):
So your statement date is going to be before your
due date.
Speaker 2 (07:34):
Sometimes it is yeah, it's all dependent.
But look on your credit cardstatement or either call the
bank or a credit card companyand they'll give you that
statement date, because there'snot one that's like readily
given to people or if they seeit, they don't know to like okay
, that's the date that I need topay by.
Like, you could pay yourstatement by that date to get
(07:58):
that utilization down to 10% andthen the next day after that
statement date close.
If you need to run that thingback up and to the next
statement date, you can do thatbecause it's gonna report that
low utilization and that's gonnahelp keep your credit score
high.
Speaker 1 (08:14):
I paid off a mortgage and my credit score dropped a
seven point.
I was like you know what theycan have this Pay off a car, you
pay off a mortgage, you pay offyour credit cards, your score
is going to drop and it's all agame.
So they want you to be in debt,they want you to have those
credit cards, those studentloans.
And the credit mix, like yousaid, is really important
because when I had the mortgageon there, my credit score was
about like 700, 720, 780.
(08:36):
You already hit the 720 to geta business loan.
You don't need no 850.
They don't care about the 850.
I know some people reallyreally be over here dying over
perfect credit scores.
It is not, they do.
Debt is a good thing, havingdebt is a good thing.
I don't know why,generationally we run from debt,
from credit cards.
My mom told me don't get nocredit cards when I was growing
up, so I didn't.
(08:57):
Obviously you need them andthat's that wealth gap that we
keep talking about.
So what is it?
What does your company do?
Speaker 2 (09:07):
So we're?
We're pretty much a credit andmoney company, so financial
services across the board prettymuch anything consumer need or
business need, we have asolution for it.
So as far as like the consumerside, we offer credit repair.
We offer personal debt reliefprogram.
We offer like auto refinancing,student loan refinancing.
(09:29):
We have a program for like willand trust.
And as far as like the businessside, we also we help with
building business credit,providing funding.
We have a program for that tohelp you build your business
credit and within that programyou're guaranteed at least
$50,000 in funding by the timewe're done and that's like the
(09:49):
least amount.
Most people get more than that,but you at least have that
$50,000 in funding when you getstarted.
We offer business funding forcompanies that's already fully
established but they are havebeen like using their own
personal funds trying to runtheir business.
And we all I mean we all don'tknow because I realized that how
(10:10):
much of a mess that can be whenyou're trying to run a business
from your personal funds.
I didn't even realize, like howbad it was until I actually got
into the industry.
How people you know, everybodywants to own a business.
That's all you see.
Entrepreneurship.
I want to do this and they justautomatically assume okay, I've
(10:31):
got my LLC, ein, I'm about towalk into this bank, get this
$100,000 and boom like no, itdon't work like that, it's not
that easy.
Social media got them thinkingit's that easy.
Like it's it's really.
You have to have so much inplace in order to get that
funding.
And then, if you're a newbusiness starting off, they're
(10:54):
not only gonna worry about yourbusiness score, they want to
start looking at your personalscore too, because what else do
they have to go on if you're anew business with no business
credit established?
And so these new companies,they're not fully congruent to
go into a bank to get theapproval that they're looking
for.
And they're wondering why, likeI got my eie, I got my llc.
(11:17):
That's what it make it seem.
That's all I need to get thishundred thousand dollar loan.
It's like you ain't even provedto them you could pay back
$1,000.
Speaker 1 (11:25):
No trade lines.
You ain't got no trade lines.
They finna give you $100,000.
You ain't do the basics.
You don't got no GAF cards.
You know, in 2020, covidhappened.
It was so many people on theretrying to.
This is how you do a business,and let me teach you how to.
And go to Navy Federal and runit up and blah, blah, blah, that
people got so muchmisinformation that they just
really think oh, all I got to dois get a bank account at Navy
(11:45):
Federal and I can just go.
You need at least two.
Speaker 2 (11:47):
And then get this G-Wagon financing my business
name.
It's like what.
You don't even have 10 goodtrade lines, no revenue, but you
want them to give you a G-Wagonin your business name.
So want them to give you aG-Wag and then your business
name.
So it yeah, and it's a lot oflike misinformation.
(12:08):
So you know we're here toeducate.
We focus on the underserved andminority community.
Most of the partners in thecompany are minorities for the
most part, with the Black andBrown community and the owners.
His main goal is to reach backand give.
Based out of georgia, he evenhas his own day in mcdonough,
georgia, where he gives backyearly to the community.
(12:30):
So it's about trying to justuplift our community and bridge
that generational gap, breakthose curses that you know a lot
of us can relate to and that wegrew up on, to help people in
their personal life as far ashow credit and financing go, and
to properly run a business andbe successful doing it.
Speaker 1 (12:52):
I heard of the dunes and Bradstreet for your business
credit, but you got to pay forthat.
I was like, oh, wow.
But I think so many people wereon those, you know on their
social media, and do this, dothat.
They were like, oh, what'sgoing on?
So they charged they, theystarted charging for it, and we
always say, once they get tofacebook and social media, it's
the, it's the wrap, hang it uplike it's over they're.
Speaker 2 (13:13):
They're definitely making it harder for small
businesses to open and they'regonna want to start seeing more
paperwork as far as, like youknow, the stuff that you're
reporting, the taxes, thisrevenue, how you doing I mean
it's, it's.
It's not as easy as it used tobe, that's for sure, because
probably any people doing it andrunning it up and doing it the
(13:35):
wrong way and for the wrongreasons, it's like what?
Speaker 1 (13:39):
are you talking about ?
You don't even need your creditscore.
You could go and use your EINto go ahead and get this Tesla
and get this G-Wagon.
It's like they want your creditscore.
I don't know who told you.
Everybody used to have beendoing that, but now it's a big
personal Because so many peopleyou know gave misinformation or
ran it up and made it hard foreverybody else, so that's what
happened.
So once what happened, so oncethey catch on to what people are
(14:07):
doing, they cut it out rightaway.
Everybody in 2020 was trying todo this and do that, and then
the ppp loan stuff didn't help.
Speaker 2 (14:10):
right that get people the power to be like, yeah, I'm
gonna go ahead and do this.
You know they don't want toomany people hitting that tax
bracket getting those taxwrite-offs.
You get a lot of deductionsbeing a small business owner,
that you know the regular w-2employee you know they're paying
more taxes and stuff thansomebody that's a business owner
.
So it's like, hold on, we can'tget too many people these tax
(14:31):
breaks, so we got to figure outhow to put a restriction on this
somebody told me there's a newlaw that they're starting tax
entrepreneurs on.
Speaker 1 (14:39):
Did you hear about that?
They're starting to tax peoplewho open businesses and I was
like, wow, that's interesting,but it's too many people
becoming entrepreneurs, Likeit's not enough people going
into the workforce and peopleare not just joining college and
getting degrees anymore.
Speaker 2 (14:53):
You know, when you start tapping into the
government money, like hold on,they ain't going to college,
they ain't getting these studentloans, Like wait a minute.
Yeah, yeah, they doing all theycan to try to revive that too.
Speaker 1 (15:09):
So I saw on TikTok they were saying how to get
negative late payments ornegative remarks off your credit
.
You have to do like lawsomething, section DLB, you put
it on a credit report and youreport it and you claim the
dispute.
I don't give you permission touse my information and then the
creditors, because of that law,have to take it down like any
(15:29):
late payments or any hardinquiries or anything that's
reported.
Have you heard of that law?
Speaker 2 (15:33):
well with that particular law, with some of the
verbiage that's in that letterisn't particularly a hundred
percent like.
When you send a letter likethat, you have to be sure like
to list any discrepancies, sendany proof as to what you're
disputing.
You can't't just say I ain'tgive you permission.
It's like what, what you mean?
(15:55):
You ain't give me permission.
So some of those things comewith proof.
That's why it's hardersometimes for us, when we are
hired as, like, a credit repairspecialist, to remove things
from people's credit report.
Like if they are going tryingto dispute certain things, like
through credit karma, and theydon't have the particular law,
(16:16):
the right law, of disputed itthe right way, and that creditor
has come back and said, nah,this is valid.
And we come back behind themand try to say the same things
like nah, try to say the samethings like nah, we already done
, told you that this is valid.
So it makes it harder for us tofight for it, like we can get
(16:37):
it done, but it ain't gonnahappen overnight, and that's
what people don't understand too.
Like it is a process andespecially if you've already
started messing with it yourself, like you be, like you know,
and then you have some.
While you try to dispute, theywant to try to do their own
thing and it's like okay, thesepeople get too much
misinformation.
Like just relax and trust theprocess, because it is a process
(17:01):
.
It is some people out herethat's doing credit suites which
are, in essence, illegal, whereand credit suites are pretty
much.
You may come across somebodylike oh, I could sweep off
everything in 30 days.
They're usually like reportingyour accounts as fraud, like
(17:23):
everything that's on your creditreport is a fraudulent activity
and it kind of erases you.
They freeze things throughlexusNexis, which is a consumer
reporting agency.
Or either some people have youto go like get a police report
and say these accounts, tellthem these accounts, you know
your identity has been stolen,and that way they sweep
(17:47):
everything out.
But at the end of the daythat's completely fraudulent
because you're lying, you knowyou, these accounts are yours.
But some people are doing itbecause they're looking for that
quick fit and I mean I'mdealing with a girl who did that
a few years ago and she'strying to get a house and now
she going to these lenders andher credit score coming back in
(18:09):
a and she's like I don'tunderstand why no credit score
coming back, na, and she's likeI don't understand why no credit
score is pulling.
And I'm like, asking her allthese questions and found out
she did a credit sweep and nowshe has to contact lexus, nexus,
try to prove her identity,because you said this wasn't you
so they could wipe yourselfclean.
And yeah, so it's a lot ofinformation out there.
(18:33):
It's a lot of misinformation.
When I'm dealing with people,the first thing they tell me
like it seems like 90% of thepeople that I've dealt with have
dealt with somebody fraudulentor have gotten over on them as
far as, like, the credit repass.
So it's even getting past thatstep hard.
But, like with our services, weeven offer 180 day money back
(18:55):
guarantee.
So it's like you, you don'tlose no money if you know,
nothing doesn't work out.
So you know that gives peoplereassurance as well.
Like you know, it's risk-freeat that point social media has
damaged everything.
Speaker 1 (19:11):
You don't know what's real, what's fake.
What look real might be fakeand what was fake might look
real.
And it's just like I don't knowhow people keep up.
I really don't.
And it's like I guess peopledon't do nothing or you just
shoot in the dark and theyeither get scammed then they
don't.
But you're right.
The cash app scam.
I was asking a girl.
I'm like do you have any buddypasses, you know for the airline
thing?
She was like I can do a.
(19:32):
She said something a copy card.
You pay 50%.
I said what's a copy card?
She's like they get somebody'scredit card and get the flight
for you.
I said I shouldn't have knownnot to ask her because in
Atlanta they be.
I was like no, ma'am, I'm notgonna end up in jail, right
somebody's credit card and buyflights I couldn't believe did
(19:53):
you see that post about the girlwho stole the um cpn.
Speaker 2 (19:57):
Got the cpn for the veneers the cpn.
I don't know what a cpn is, sothat's like basically you can,
the numbers are somewhat like asocial security number, so it's
like a consumer private numberis what they call them, but it
has a nine digit number like asocial security number.
So basically, somebody hasfraudulently taken somebody
(20:17):
else's identity and tied it tothis number that's had good
credit and they are selling thisto a consumer so they can get
financing under that name.
In essence, have takensomebody's identity but it to,
you know, make it look like theperson that's buying it.
And so the girl that tried toget the veneers here at the
dental office when they figuredout that it wasn't her identity,
(20:41):
that's how the police caught upwith them and that's why she
was like oh, what she said?
Like, oh, I bought this numberfrom somebody.
No, my homeboy said I could useit, and all this Like it's been
going on for years but they'vebeen using it like small stuff.
Oh, I'm going to go get me anapartment, something that again
social media, you know.
So now they want to go try todo it big.
(21:02):
I want to go buy these teeth, Iwant to go buy me a mansion, I
want to go buy me a car, andit's just like, even it's
fraudulent.
Speaker 1 (21:08):
But social media mess up like some stuff for you,
like even the thing, like I'mnot trying to go to jail, like
do do people even think, like ifI get caught, what's the worst
that can happen?
Speaker 2 (21:19):
jail, okay, no I'm good I saw that video.
I'm like girl, I'm glad youweren't in the middle of a prep
because that would have beenhard walking around with some
shaved down teeth.
Speaker 1 (21:31):
But that's crazy.
Well, I mean, this was veryinformative.
So if anyone needs help withfinancial advising or credit
repair or just has questions toreach out to you about you know
credit scores and how all ofthat works and what you guys
help with wills and trust andall of that, where can they find
you?
Speaker 2 (21:49):
My business number is 470-632-6638.
And I can be found on, like allsocial media my Facebook,
instagram and TikTok.
My name, sharice FergusonS-H-E-R-I-E-S-E-F-E-R-G-U-S-O-N,
f-e-r-g-u-s-o-n.
(22:09):
And my website, wwwnobaycom.
Slash ShariceS-H-E-R-I-E-S-E-F-E-R-G-U, and
(22:31):
that's my website and that hasall my business information and
the programs and services that Ioffer on that website.
Speaker 1 (22:35):
For y'all looking to get outside of the op and do
something different.
Sharice has done it.
She is out.
She still practices.
You still practice part-time orwhenever you want to you temp.
Speaker 2 (22:44):
Yeah, I'm just temping whenever.
Yeah.
Speaker 1 (22:46):
But it might be a way to buy into the franchise.
So if y'all interested in it,got three hundred forty nine
dollars.
It is not a scam.
Speaker 2 (22:58):
OK, it is not a scam Because, listen, I got my whole
family with me, so it ain't ascam.
Good, good, I got I brought mymom in.
Two of my brothers, mysister-in-law Like I mean it's
just been great as a wholebecause again we didn't grow up
like that.
I mean it's just been great asa whole because again we didn't
grow up like that.
Like, even now, just seeing mymom, even though you know she's
older, she's learning still, andshe's like, oh my God, she even
apologized I'm like, oh my God,I'm just so sorry.
(23:20):
Like I didn't teach y'all thisstuff and you know she was
feeling bad about it at first.
And I'm like, mom, you reallycan't teach what you don't know.
Like you know, you try to belike oh, you know, my parents
didn't do this, parents didn'tdo that.
But at the same time you kindof have to somewhat give them a
little grace because, especiallyin our community, like they
(23:41):
can't teach us certain thingswhich they don't know.
But as we're learning, justlike I did, I could reach back,
grab my mom and be like look,this is what we're doing and
this is how we're going to getit done and just educate
everybody.
And her niche is focusing onpeople in her age group that you
(24:02):
know financial, illiterate andstill trying to find a way, and
you know better themselves andeducate, get the education they
need.
So it's been good for me and myfamily as a whole just even
seeing everybody's confidenceand how confident they are with
everything, the knowledge thatthey're gaining.
They just enjoy helping thecommunity.
Speaker 1 (24:25):
Cherise.
Well, thank you so much.
This is season three ofDentalist Bye.
All right, everybody, welcome to Dentalist Season 3.
I'm here with Sharice RDH.
She's a Brown Bear RDH dentalhygienist.
She's been in dental hygienepractice for about seven years.
She also is in the financialadvisory aspect of her career.
So she's out of the op.
She found her side hustle, herfirst love in finance, and she's
(00:23):
helping us get our credit righttoday.
Like if you've seen her, ifyou've been following her on
social media, she's droppinggems credit repair, what to do,
what not to do, y'all with them.
523 credit scores.
Everybody done been there, I'vebeen there.
Okay, there's not, don't beashamed, but we gonna get you
right.
And there is a such thing as an850 credit score.
(00:43):
But do you really need that?
That's what I'd be.
Like, who cares if it's 850?
We're only going to get youknow.
When I went to lease my car,they was like it doesn't matter
if you have perfect credit.
Like this is the interest rateyou know.
So people don't understand thattoo.
So, um, I wanted to get someinformation about what you do as
far as the the financial aspectof you know, credit repair and
your team.
(01:04):
Like I see a lot of your team.
They're out here winning.
So, like I'm trying to be onthe team.
What's going on?
Speaker 2 (01:08):
yeah, so I mean we're , you know, nationwide, so we
have members in all states.
I was lucky to find where thisopportunity came to me, actually
from a friend that I grew upwith.
We went to high school together.
We both grew up in the sameprojects which we like.
Now we're like we grew up in thesame projects, which we like.
Now we're like we grew up, westarted it in the same project,
(01:28):
but now we're like building ateam together, growing together.
So it's good just knowing, likethe beginning, where we came
from and where we are now, wherewe're headed.
The opportunity actually cameto me.
He had posted about franchisinginto a company and you know,
when you're franchising justlike in a Chick-fil-a or
something like that they want somuch up front, hundred thousand
(01:49):
invested you have to show up.
And he was like you know it'sonly like 349 to franchise into
a company.
I'm like you know, own your own, start your own financial
services business.
I'm like, no, wait a minute,what it's like that's the lowest
is $349.
Speaker 1 (02:05):
I don't even look like you trying to scam me out
of $500.
What's Cash App scam?
What's going on?
Okay, go.
Speaker 2 (02:10):
No, no, look, I don't even like to operate a Cash App
for real.
We'll start there because theybe having too much going on.
And then I mean the great thingabout it.
Like me, growing up my family,we've been in the suburbs, we've
been in the project from thesuburbs back to the project.
So you know knowing both sidesof that spectrum.
But just growing up nobodyreally talked about money.
(02:32):
Like I knew really nothingabout money when I got pregnant
at 15, it was like me having myfirst bank account.
My grandma was like okay, youhave to have a bank account.
And I'm like I've never heardmy parents talk about a bank
account.
My grandma was, like okay, youhave to have a bank account.
I'm like I've never heard myparents talk about a bank
account.
My dad rarely even like dealtin debit or credit cards or
anything like that.
Like growing up in my house,you know that crown royal bag
(02:54):
under the mattress.
Like that's the bank under themattress, in the crown, in the
crown bag.
So it was all like new to me asfar as like how to handle and I
really didn't even know thedifference between different
accounts retirement account,different checking and savings
accounts until I actually gotinto the mortgage finance
(03:16):
industry In my undergrad.
I majored in biology and minoredin business finance because I
was like, okay, I'm going to goto dental school, have my own
practice, so I kind of need toknow.
You know the front and the backend of things.
But life flight after Igraduated, I just ended up
moving to Atlanta.
Me and my best friend and thatwas the first thing I was able
to get into was the mortgageindustry.
(03:37):
So from there I did that for 12years, even while I was in
hygiene school.
That's how I actually paid forhygiene school, working that job
, because otherwise I probablywouldn't have made it.
I had my undergrad degree, hadstarted my master's, so
financial aid was like, nah, yougot these advanced degrees,
you're trying to get anassociate?
Like you're moving backwards,we ain't giving you no money.
(03:59):
So I had to pay almost $900 amonth for hygiene school on top
of my regular bills.
Speaker 1 (04:06):
Back to financial literacy.
People don't know, just becauseyou have the degree does not
mean you will make the money.
So when you have to go back andgo for an associate's and
you're like, yeah, I can make,you know, $75,000 a year, then
it's one of those things likewhy wouldn't I?
But then the financial is likeuh-uh, what you doing?
You already had your turn.
Speaker 2 (04:28):
Because they're like, nah, we ain't giving you
nothing else, even though Iwould have been able to get it
if I was to go get my doctorateor something like that.
But they're like you're movingbackwards, so, nah, and I kind
of was discouraged a little bitbecause I'm like I ain't no $900
.
And then we even had thisconversation how they were
talking about how dentalhygienist, you know, you can't
work, you can't do this, can'tdo that, and I'm like so make it
(04:49):
through hygiene school withthese kids, a whole family, you
know, trying to make thispayment.
So the coke, like financialliteracy.
There was one thing, too, as faras, like, my credit score, just
being able to get differentthings, like even though though
my credit wasn't horrible, I hadlike a 668, but it was like
stuck there, it was just sittingand I'm like, why can't I get a
(05:11):
higher score?
What is going on?
And the reason being is becauseI had all these student loans
and all of them were at theirmax limit, like I hadn't paid
them down like to half or belowit, to where, um, my credit
score would move, and I didn'thave a mixture of credit.
So all I had was my studentloans.
(05:33):
My car was paid off.
I didn't have, like, anyrevolving debt, no credit cards
or anything like that and thiswas important about a credit
score that people don'tunderstand, like they assume
that oh, cause it's good.
Oh, I got, you know everythinggets paid on time.
Then I'm good, like my creditscore.
But then they get stuck.
(05:53):
They like wondering why.
And so when I started to learnhow credit works and how the
mixture of things works, it'slike, okay, credit mix is 10% of
your credit score, so you haveto have that mixture.
If you don't, you are losing10% of what your score is.
So I had to work around likehow to start getting credit
(06:15):
cards, because even though I hadthat 668, I was getting denied
for credit cards and I'm likeeverything is on time.
I got a good score, but Ididn't have that credit mix that
lenders are looking for toapprove you for anything.
So I had to start off, likewith the starter account, secure
a credit card to build up myrevolving credit, and then my
(06:36):
score started going, startedmoving from there, start
learning how to manipulate yourcredit score.
It's all a game really Likewhen you're dealing with credit.
You just have to learn how toplay your credit score.
It's all a game really Likewhen you're dealing with credit.
You just have to learn how toplay the game.
Having those maxed out creditcards keep your score low.
You want to keep it.
At least 30% or less.
10% is ideal of the creditutilization.
(06:57):
Most people think like oh, Idon't understand why, when they
look at their credit report, whytheir utilization is still high
.
When they're like, oh, I don'tunderstand why, when they look
at their credit report, whytheir utilization is still high.
When they're like, oh, I paidit down to 10% by my due date,
but the due date isn't theactual date that's reporting to
your credit report.
You need to pay by thatstatement date or the closing
(07:20):
date.
That's the date that'sreporting to the credit bureaus,
not the actual due date.
Your due date is to keep itfrom going delinquent, but the
statement date is what's goingto report on your utilization.
Speaker 1 (07:32):
So your statement date is going to be before your
due date.
Speaker 2 (07:34):
Sometimes it is yeah, it's all dependent.
But look on your credit cardstatement or either call the
bank or a credit card companyand they'll give you that
statement date, because there'snot one that's like readily
given to people or if they seeit, they don't know to like okay
, that's the date that I need topay by.
Like, you could pay yourstatement by that date to get
(07:58):
that utilization down to 10% andthen the next day after that
statement date close.
If you need to run that thingback up and to the next
statement date, you can do thatbecause it's gonna report that
low utilization and that's gonnahelp keep your credit score
high.
Speaker 1 (08:14):
I paid off a mortgage and my credit score dropped a
seven point.
I was like you know what theycan have this Pay off a car, you
pay off a mortgage, you pay offyour credit cards, your score
is going to drop and it's all agame.
So they want you to be in debt,they want you to have those
credit cards, those studentloans.
And the credit mix, like yousaid, is really important
because when I had the mortgageon there, my credit score was
about like 700, 720, 780.
(08:36):
You already hit the 720 to geta business loan.
You don't need no 850.
They don't care about the 850.
I know some people reallyreally be over here dying over
perfect credit scores.
It is not, they do.
Debt is a good thing, havingdebt is a good thing.
I don't know why,generationally we run from debt,
from credit cards.
My mom told me don't get nocredit cards when I was growing
up, so I didn't.
(08:57):
Obviously you need them andthat's that wealth gap that we
keep talking about.
So what is it?
What does your company do?
Speaker 2 (09:07):
So we're?
We're pretty much a credit andmoney company, so financial
services across the board prettymuch anything consumer need or
business need, we have asolution for it.
So as far as like the consumerside, we offer credit repair.
We offer personal debt reliefprogram.
We offer like auto refinancing,student loan refinancing.
(09:29):
We have a program for like willand trust.
And as far as like the businessside, we also we help with
building business credit,providing funding.
We have a program for that tohelp you build your business
credit and within that programyou're guaranteed at least
$50,000 in funding by the timewe're done and that's like the
(09:49):
least amount.
Most people get more than that,but you at least have that
$50,000 in funding when you getstarted.
We offer business funding forcompanies that's already fully
established but they are havebeen like using their own
personal funds trying to runtheir business.
And we all I mean we all don'tknow because I realized that how
(10:10):
much of a mess that can be whenyou're trying to run a business
from your personal funds.
I didn't even realize, like howbad it was until I actually got
into the industry.
How people you know, everybodywants to own a business.
That's all you see.
Entrepreneurship.
I want to do this and they justautomatically assume okay, I've
(10:31):
got my LLC, ein, I'm about towalk into this bank, get this
$100,000 and boom like no, itdon't work like that, it's not
that easy.
Social media got them thinkingit's that easy.
Like it's it's really.
You have to have so much inplace in order to get that
funding.
And then, if you're a newbusiness starting off, they're
(10:54):
not only gonna worry about yourbusiness score, they want to
start looking at your personalscore too, because what else do
they have to go on if you're anew business with no business
credit established?
And so these new companies,they're not fully congruent to
go into a bank to get theapproval that they're looking
for.
And they're wondering why, likeI got my eie, I got my llc.
(11:17):
That's what it make it seem.
That's all I need to get thishundred thousand dollar loan.
It's like you ain't even provedto them you could pay back
$1,000.
Speaker 1 (11:25):
No trade lines.
You ain't got no trade lines.
They finna give you $100,000.
You ain't do the basics.
You don't got no GAF cards.
You know, in 2020, covidhappened.
It was so many people on theretrying to.
This is how you do a business,and let me teach you how to.
And go to Navy Federal and runit up and blah, blah, blah, that
people got so muchmisinformation that they just
really think oh, all I got to dois get a bank account at Navy
(11:45):
Federal and I can just go.
You need at least two.
Speaker 2 (11:47):
And then get this G-Wagon financing my business
name.
It's like what.
You don't even have 10 goodtrade lines, no revenue, but you
want them to give you a G-Wagonin your business name.
So want them to give you aG-Wag and then your business
name.
So it yeah, and it's a lot oflike misinformation.
(12:08):
So you know we're here toeducate.
We focus on the underserved andminority community.
Most of the partners in thecompany are minorities for the
most part, with the Black andBrown community and the owners.
His main goal is to reach backand give.
Based out of georgia, he evenhas his own day in mcdonough,
georgia, where he gives backyearly to the community.
(12:30):
So it's about trying to justuplift our community and bridge
that generational gap, breakthose curses that you know a lot
of us can relate to and that wegrew up on, to help people in
their personal life as far ashow credit and financing go, and
to properly run a business andbe successful doing it.
Speaker 1 (12:52):
I heard of the dunes and Bradstreet for your business
credit, but you got to pay forthat.
I was like, oh, wow.
But I think so many people wereon those, you know on their
social media, and do this, dothat.
They were like, oh, what'sgoing on?
So they charged they, theystarted charging for it, and we
always say, once they get tofacebook and social media, it's
the, it's the wrap, hang it uplike it's over they're.
Speaker 2 (13:13):
They're definitely making it harder for small
businesses to open and they'regonna want to start seeing more
paperwork as far as, like youknow, the stuff that you're
reporting, the taxes, thisrevenue, how you doing I mean
it's, it's.
It's not as easy as it used tobe, that's for sure, because
probably any people doing it andrunning it up and doing it the
(13:35):
wrong way and for the wrongreasons, it's like what?
Speaker 1 (13:39):
are you talking about ?
You don't even need your creditscore.
You could go and use your EINto go ahead and get this Tesla
and get this G-Wagon.
It's like they want your creditscore.
I don't know who told you.
Everybody used to have beendoing that, but now it's a big
personal Because so many peopleyou know gave misinformation or
ran it up and made it hard foreverybody else, so that's what
happened.
So once what happened, so oncethey catch on to what people are
(14:07):
doing, they cut it out rightaway.
Everybody in 2020 was trying todo this and do that, and then
the ppp loan stuff didn't help.
Speaker 2 (14:10):
right that get people the power to be like, yeah, I'm
gonna go ahead and do this.
You know they don't want toomany people hitting that tax
bracket getting those taxwrite-offs.
You get a lot of deductionsbeing a small business owner,
that you know the regular w-2employee you know they're paying
more taxes and stuff thansomebody that's a business owner
.
So it's like, hold on, we can'tget too many people these tax
(14:31):
breaks, so we got to figure outhow to put a restriction on this
somebody told me there's a newlaw that they're starting tax
entrepreneurs on.
Speaker 1 (14:39):
Did you hear about that?
They're starting to tax peoplewho open businesses and I was
like, wow, that's interesting,but it's too many people
becoming entrepreneurs, Likeit's not enough people going
into the workforce and peopleare not just joining college and
getting degrees anymore.
Speaker 2 (14:53):
You know, when you start tapping into the
government money, like hold on,they ain't going to college,
they ain't getting these studentloans, Like wait a minute.
Yeah, yeah, they doing all theycan to try to revive that too.
Speaker 1 (15:09):
So I saw on TikTok they were saying how to get
negative late payments ornegative remarks off your credit
.
You have to do like lawsomething, section DLB, you put
it on a credit report and youreport it and you claim the
dispute.
I don't give you permission touse my information and then the
creditors, because of that law,have to take it down like any
(15:29):
late payments or any hardinquiries or anything that's
reported.
Have you heard of that law?
Speaker 2 (15:33):
well with that particular law, with some of the
verbiage that's in that letterisn't particularly a hundred
percent like.
When you send a letter likethat, you have to be sure like
to list any discrepancies, sendany proof as to what you're
disputing.
You can't't just say I ain'tgive you permission.
It's like what, what you mean?
(15:55):
You ain't give me permission.
So some of those things comewith proof.
That's why it's hardersometimes for us, when we are
hired as, like, a credit repairspecialist, to remove things
from people's credit report.
Like if they are going tryingto dispute certain things, like
through credit karma, and theydon't have the particular law,
(16:16):
the right law, of disputed itthe right way, and that creditor
has come back and said, nah,this is valid.
And we come back behind themand try to say the same things
like nah, try to say the samethings like nah, we already done
, told you that this is valid.
So it makes it harder for us tofight for it, like we can get
(16:37):
it done, but it ain't gonnahappen overnight, and that's
what people don't understand too.
Like it is a process andespecially if you've already
started messing with it yourself, like you be, like you know,
and then you have some.
While you try to dispute, theywant to try to do their own
thing and it's like okay, thesepeople get too much
misinformation.
Like just relax and trust theprocess, because it is a process
(17:01):
.
It is some people out herethat's doing credit suites which
are, in essence, illegal, whereand credit suites are pretty
much.
You may come across somebodylike oh, I could sweep off
everything in 30 days.
They're usually like reportingyour accounts as fraud, like
(17:23):
everything that's on your creditreport is a fraudulent activity
and it kind of erases you.
They freeze things throughlexusNexis, which is a consumer
reporting agency.
Or either some people have youto go like get a police report
and say these accounts, tellthem these accounts, you know
your identity has been stolen,and that way they sweep
(17:47):
everything out.
But at the end of the daythat's completely fraudulent
because you're lying, you knowyou, these accounts are yours.
But some people are doing itbecause they're looking for that
quick fit and I mean I'mdealing with a girl who did that
a few years ago and she'strying to get a house and now
she going to these lenders andher credit score coming back in
(18:09):
a and she's like I don'tunderstand why no credit score
coming back, na, and she's likeI don't understand why no credit
score is pulling.
And I'm like, asking her allthese questions and found out
she did a credit sweep and nowshe has to contact lexus, nexus,
try to prove her identity,because you said this wasn't you
so they could wipe yourselfclean.
And yeah, so it's a lot ofinformation out there.
(18:33):
It's a lot of misinformation.
When I'm dealing with people,the first thing they tell me
like it seems like 90% of thepeople that I've dealt with have
dealt with somebody fraudulentor have gotten over on them as
far as, like, the credit repass.
So it's even getting past thatstep hard.
But, like with our services, weeven offer 180 day money back
(18:55):
guarantee.
So it's like you, you don'tlose no money if you know,
nothing doesn't work out.
So you know that gives peoplereassurance as well.
Like you know, it's risk-freeat that point social media has
damaged everything.
Speaker 1 (19:11):
You don't know what's real, what's fake.
What look real might be fakeand what was fake might look
real.
And it's just like I don't knowhow people keep up.
I really don't.
And it's like I guess peopledon't do nothing or you just
shoot in the dark and theyeither get scammed then they
don't.
But you're right.
The cash app scam.
I was asking a girl.
I'm like do you have any buddypasses, you know for the airline
thing?
She was like I can do a.
(19:32):
She said something a copy card.
You pay 50%.
I said what's a copy card?
She's like they get somebody'scredit card and get the flight
for you.
I said I shouldn't have knownnot to ask her because in
Atlanta they be.
I was like no, ma'am, I'm notgonna end up in jail, right
somebody's credit card and buyflights I couldn't believe did
(19:53):
you see that post about the girlwho stole the um cpn.
Speaker 2 (19:57):
Got the cpn for the veneers the cpn.
I don't know what a cpn is, sothat's like basically you can,
the numbers are somewhat like asocial security number, so it's
like a consumer private numberis what they call them, but it
has a nine digit number like asocial security number.
So basically, somebody hasfraudulently taken somebody
(20:17):
else's identity and tied it tothis number that's had good
credit and they are selling thisto a consumer so they can get
financing under that name.
In essence, have takensomebody's identity but it to,
you know, make it look like theperson that's buying it.
And so the girl that tried toget the veneers here at the
dental office when they figuredout that it wasn't her identity,
(20:41):
that's how the police caught upwith them and that's why she
was like oh, what she said?
Like, oh, I bought this numberfrom somebody.
No, my homeboy said I could useit, and all this Like it's been
going on for years but they'vebeen using it like small stuff.
Oh, I'm going to go get me anapartment, something that again
social media, you know.
So now they want to go try todo it big.
(21:02):
I want to go buy these teeth, Iwant to go buy me a mansion, I
want to go buy me a car, andit's just like, even it's
fraudulent.
Speaker 1 (21:08):
But social media mess up like some stuff for you,
like even the thing, like I'mnot trying to go to jail, like
do do people even think, like ifI get caught, what's the worst
that can happen?
Speaker 2 (21:19):
jail, okay, no I'm good I saw that video.
I'm like girl, I'm glad youweren't in the middle of a prep
because that would have beenhard walking around with some
shaved down teeth.
Speaker 1 (21:31):
But that's crazy.
Well, I mean, this was veryinformative.
So if anyone needs help withfinancial advising or credit
repair or just has questions toreach out to you about you know
credit scores and how all ofthat works and what you guys
help with wills and trust andall of that, where can they find
you?
Speaker 2 (21:49):
My business number is 470-632-6638.
And I can be found on, like allsocial media my Facebook,
instagram and TikTok.
My name, sharice FergusonS-H-E-R-I-E-S-E-F-E-R-G-U-S-O-N,
f-e-r-g-u-s-o-n.
(22:09):
And my website, wwwnobaycom.
Slash ShariceS-H-E-R-I-E-S-E-F-E-R-G-U, and
(22:31):
that's my website and that hasall my business information and
the programs and services that Ioffer on that website.
Speaker 1 (22:35):
For y'all looking to get outside of the op and do
something different.
Sharice has done it.
She is out.
She still practices.
You still practice part-time orwhenever you want to you temp.
Speaker 2 (22:44):
Yeah, I'm just temping whenever.
Yeah.
Speaker 1 (22:46):
But it might be a way to buy into the franchise.
So if y'all interested in it,got three hundred forty nine
dollars.
It is not a scam.
Speaker 2 (22:58):
OK, it is not a scam Because, listen, I got my whole
family with me, so it ain't ascam.
Good, good, I got I brought mymom in.
Two of my brothers, mysister-in-law Like I mean it's
just been great as a wholebecause again we didn't grow up
like that.
I mean it's just been great asa whole because again we didn't
grow up like that.
Like, even now, just seeing mymom, even though you know she's
older, she's learning still, andshe's like, oh my God, she even
apologized I'm like, oh my God,I'm just so sorry.
(23:20):
Like I didn't teach y'all thisstuff and you know she was
feeling bad about it at first.
And I'm like, mom, you reallycan't teach what you don't know.
Like you know, you try to belike oh, you know, my parents
didn't do this, parents didn'tdo that.
But at the same time you kindof have to somewhat give them a
little grace because, especiallyin our community, like they
(23:41):
can't teach us certain thingswhich they don't know.
But as we're learning, justlike I did, I could reach back,
grab my mom and be like look,this is what we're doing and
this is how we're going to getit done and just educate
everybody.
And her niche is focusing onpeople in her age group that you
(24:02):
know financial, illiterate andstill trying to find a way, and
you know better themselves andeducate, get the education they
need.
So it's been good for me and myfamily as a whole just even
seeing everybody's confidenceand how confident they are with
everything, the knowledge thatthey're gaining.
They just enjoy helping thecommunity.
Speaker 1 (24:25):
Cherise.
Well, thank you so much.
This is season three ofDentalist Bye.
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