Dr. Richard Krawczyk touts himself as a financial "guru" specifically in the areas of personal credit restortion and building business credit. He offers very expense seminars, advertised as the most expensive business credit bootcamp in the world at $30,000, and guarantees at least $1,000, 000 in business credit.
You pay close to $7,000 up front and you pay the remaining $23,000 within a year IF you get the million. This is part of his Iron Clad 3 Part Guarantee. If you do not get the million in credit, you simply pay nothing more, having wasted AT LEAST $7,000.
This whole concept is predicated on having a 2 year or older full blown C corporation. Should you not have one, you can purchase a "Shelf" corporation, one either started and not used actively, or one taken over from someone who let their registration lapse. These are available for several thousands of dollars per year of age. Add another $5,000 for this.
Next you are instructed to get a Virtual Office with mail forwarding in the state of your corporations registration. This way you can have your mail sent there and forwarded on to you where are without actually occupying office space. Another several hundred dollars here.
Next step is to setup a Virtual PBX system with a company like GotVMail.com. It allows you setup several extensions giving the illusion of a much bigger company than you really are: 1 to 2 people I suspect. Then, you call the phone company in the city where your mail forwarding is and setup a Jumper number. This numbe rings into the GotVMail number which will ring forward to any number you desire giving the illusion you are on site at your "mailing address". Only a few dollars a month here.
Next you start applying for small credit lines with a small list of credit suppliers like office supply and shipping companies. More costs here to buy and ship things to build a credit profile.
Next, you go to Dun and Bradstreet to setup a DUNS Number. This is one of the credit bureaus used for businesses. After several hundred more dollars to them, you may be able to get your credit sources listed and receive credit for them on the report.
Finally, you can start applying for the larger credit lines and more conventional credit cards, all advertised on the web by Krawczyk as requiring no personal guarantee, meaning the person who applies on behalf of the corporation is not responsible should the corporation default. My experience is IF you are able to get any serious credit lines or credit cards, a personal guarantee is required.
Let's look at the guarantees on his MillionaireBusinessCredit.com website:
"You'll walk out of my Milionaire Business Credit Bootcamp with a minimum of $30,000 in unsecured business credit that will be reported to the credit bureau." This comes from 3 companies Dr Krawczyk says have established themselves with D&B including some leather goods company in Southern California. I have NEVER seen any of these 3 companies reporting on my D&B Report. This is also from trading credit with other bootcamp attendees. This is credit that likely would never be used just to credit lines to place on the credit report. D&B places restrictions on what can be reported. Most of the students cannot trade this way and have it reported as I found out from D&B when I tried. His website boasts, "Additionally, I will teach you how to have those large amounts of business credit appear on your business credit report within a week."
I guess I should have read his website more thoroughly. It is full of typos and appears to have been edited by a high schooler. He contradicts himself as well. At one point, he says his enrollments are kept to 70-80 to allow the most one on one interaction etc. At another point, he says there are only 30 seats for the event. Which is it? Based on my experience, he should be lucky to fill his registration table with attendees.
Now I have found out he is getting into the inspirational type of video like The Secret. I guees he will show people how to be a fraud and makes thousands of dollars giving out worhless guarantees.
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