What’s Your Credit Score?
It’s easy to ignore the problems that are created by a low credit rating. Thinking about your credit history isn’t something many people do every day. At some point it will become obvious that the poor credit score is stopping you from moving forward. For most, the moment of understanding comes when it is time to make a big purchase, like purchase a home or a car.
Having a bad credit score makes it very hard to obtain a loan. Even if your score is somewhat decent and you can get approved, your will likely pay much higher interest rates. It may not seem like an additional 2% in interest will result in much, until you do the math. A mere 2% higher interest rate will result in thousands of extra dollars spent.
Okay, so I have this recipe for cheesecake that’s been in my family for generations. Whenever I make it people rave. A couple months ago I made it for a New York native that was 100% Italian. She proclaimed it the best cheesecake she had ever eaten. I don’t think you can get higher kudos than that. Last week I made it for a friend of mine. She was totally appreciative “before eating” because she was coincidentally having a dinner party that night and hadn’t even taken time to buy or make a dessert. I had saved the day. The next day she told the world via Facebook that it was the best she’d ever ate and each of her guests asked for seconds. Okay okay, it’s time to post the recipe……..
After a Bankruptcy
Every year more than 1.5 million Americans file for bankruptcy for a variety of reasons. While bankruptcy has many negative effects, it does offer people with devastated finances a fresh start. While most bankruptcies remain on your credit reports for 7-10 years, there are several things you can do to start re-establishing your credit after filing.
- The first step in managing your credit is to clear your credit reports of errors. Check that your credit reports from TransUnion, Equifax and Experian have accurately recorded your pre-bankruptcy debts as “Included in BK.” Under the Fair Credit Reporting Act, you have the right to dispute inaccuracies.
- After clearing out any errors in your credit reports it is best to keep a regular eye on your standing and use your credit conservatively. Keep your employment stable, be cautious with spending and pay all your bills on time.
Personally I think shelf corporations are a thing of the past. Yet I get asked almost weekly about their value.
Here’s what I think:
A shelf corporation, shelf company, or aged corporation, is a company or corporation that has had no activity. It was created and left with no activity-metaphorically put on the “shelf” to “age”. The company can then be sold to a person or group of persons who wish to start a company without going through all the procedures of creating a new one. Common reasons for buying a shelf corporation include:
- To save the time involved in taking the steps to create a new corporation.
- To gain the opportunity to bid on contracts. Some jurisdictions require that a company be in business for a certain length of time to have this ability.
A/R’s and P/O’s
Accounts receivable financing, sometimes known as factoring, enables a company to better meet the daily operational demands of running a business. This financing program advances the business money on their outstanding invoices, allowing the company to have consistent cash flow. Inadequate cash flow is the number one reason why businesses fail.
When to Use Accounts Receivable Financing / Factoring? Examples of when to use AR Factoring financing are described below:
- Companies in a high growth cycle needing consistent operating capital (cash flow) to fuel their growth
- Companies in survival mode needing consistent cash flow in order to fulfill their liabilities
- Staffing agencies with high weekly payrolls requiring immediate cash on hand
- Manufacturers and Business to Business service- oriented companies with high material and supply costs
Everyone that follows me knows this blog is not about selling you anything. However I do promote what I think is the best and most reliable business credit building program in the country. Excellent BBB rating and a 100% money back guarantee. Anyway, for many the $2000+ up front has always been a push for a lot of people. The company now only requires $995 down and 6 payments of $200. If you are interested in this program, now is the time to enroll. You can contact me at: 303.513.8664
After taking so much time off I’m brain freezing when it comes to penning my usual biz and credit stuff. So lets get the ball rolling again talking about food. Since we last talked I was re-introduced to something I had totally forgotten about…..strawberry cake. Served everywhere in Louisiana, rarely heard of around the rest of the country. Now this is no big secret recipe. Quite frankly, I was at a cajun restaurant here in Denver (yeah we have one good one) and it was on the menu. I begged the proprietor to give me the recipe. Nothing doing so I started an internet search. I tried 3 or 4 and here’s the easiest, cheapest, quickest and tastiest of what I found.
New Orleans style strawberry cake
What can I say? I took the last 6 months off. But now I’m back and raring to bring you more of the same great info on money, credit and everything I think will make your life better.
Get ready. We’ll start in a few days.
The Adversarial Nature of the Credit Bureaus
It’s sad but it’s true. Every day across the United States a business owner, like yourself, is turned down for an Unsecured Business Line Of Credit, a Business Credit Card or a Business Loan because of a blemish on their credit -a blemish that might not even be your fault!
Most people with bad credit aren’t deadbeats trying to avoid their bills, so why are they suffering the same embarrassment as the people who are? It’s not fair. Sometimes things happen that we have absolutely no control over, but we still have to live with them. Fortunately, there’s hope. If you know how the credit system works you can learn how to make it work for you. Can you imagine being able to make what is unofficially the most powerful system in the country work for you? If you know the secrets, you can do precisely that.
Who doesn’t like chocolate covered strawberries? But how many times do you really get to enjoy this simple pleasure? My wife works in an office. I started making these delectible little treats as a surprise for her. Slipping them in her car to find on her way to work. One day she happened to give one to her office mate. Word spread and pretty soon every one of the 40+ women in her office were wanting to marry me. I now make them regularly for the whole crew. The cost………right around ten bucks. The accolades……….priceless. Will take a half hour out of your day. The results are immeasurable. Here’s the recipe:
- 8 ounce bag milk chocolate morsels
- 8 ounce bag white chocolate morsels