Monthly Archives: September 2019

The Importance Of Paydex Score In Building Business Credit

You may already be familiar with your credit report and your FICO score. But if youre a new business owner, are you also understand the elements that make up your corporate credit? Do you know what Paydex means? This article discusses the basic points that you should know about business credit.

Your Paydex Score

Your Paydex Score is the equivalent of your FICO score. Dun & Bradstreet a major business credit bureau, uses this method of calculation to measure a businesss credit. Once youve registered with D & B and you have received your D&B number, your financial dealings with creditors and other businesses will be reflected in your business credit report. When you obtain a copy of your credit report from D&B, part of the report includes your Paydex score.

A Paydex score ranges from 0-100, with 90 and above considered as excellent, 80 as good or acceptable, and 70 and below indicates a poor rating. Just as individuals aim for a high FICO score, business owners also want to reach a high Paydex score and maintain an excellent standing.

How to Raise Your Paydex Score

How do you achieve a high Paydex score? Timeliness of payment plays a vital role in how your business credit score is calculated. Of course, the best way to achieve an outstanding score is to always submit your payments on time. If you can pay your bills earlier than your due date, then the better it would be for your business credit.

Would occasional late payments affect your score? Yes. In fact, even a single late payment can pull down your score by a point or two. Nevertheless, if your average score is around 95 or more, falling one or 2 points down would bring you to a score of 93 which is still considered as an excellent rating. On the other hand, if your average score happens to be 82 flat and youve lost 2 points because of occasional late payments, then that would bring your total score down to 79 which can be considered as a poor rating.

Thus, as much as possible, it is crucial to be on time in submitting your payments to all your creditors. What if you cant afford to pay all your creditors on time? It would be better to pay off your highest bill first to lessen the impact on your credit score.

Using Your Paydex Score to Get a Business Credit Card

Obviously, a high Paydex Score makes you an ideal client for banks and lenders while a low score makes you a high-risk borrower in the eyes of creditors. It is interesting to note that the best business credit cards in the market always require good to excellent credit.

However, if you have a poor business credit, you may consider getting a secured business credit card as a tool to raise your Paydex score. Understandably, a bad credit business credit card would have higher interest rates and lower credit limit than credit cards that require good credit. Nevertheless, by using your credit card account and paying your bills on time, you can make an improvement in your score within just a few months. Find a credit card that would report your payments to the major business credit bureaus as it is the only way you can raise your Paydex score. Eventually, you can ask your credit card issuer to upgrade your account once youve raised your credit score.

Debit & Credit Card Processing In Your Dental Practice Are You Playing Your Cards Right

Making significant changes for your practice doesnt always have to take up valuable time. Switching card processing providers, for example, can prove to be an extremely beneficial exercise for both your practice and your patients. BDA Plus has put together a case study highlighting the benefits of switching from typical bank rates to the exclusive card processing services available to you as a BDA member.
Streamline introduction
One of the major advantages of arranging your card processing facilities through BDA Plus is that we have negotiated exclusive rates from Streamline (part of RBS WorldPay), the leading provider of merchant accounts in Europe*. Switching providers is actually a lot simpler than it sounds. The process usually takes around three to four weeks to complete, and does not require the need to disrupt your practices schedule in any way.

Rates
There are various options available to suit every practices needs. As an example of rates, looking at a typical practice with an annual credit card turnover of less than 100,000, the following demonstrates our exclusive rates for BDA members:

Maestro & Solo- 16p per transaction
VISA Debit & VISA Electron – 17p per transaction
VISA Credit Card – 1.21% per transaction
Master Card – 1.24% per transaction
Commercial Cards – 1.76% per transaction

If your credit card turnover exceeds 100,000, percentage based rates can be lowered by 0.02%, and by a further 0.04% should your credit card turnover exceed 250,000.

A standard payment terminal is extremely well priced at just 10 per month (excluding VAT), allowing speedy and efficient services from a simple, user- friendly terminal. For those looking for something a little more hands free, a wireless Bluetooth operated terminal is also available, priced at just 18.95 per month (excluding VAT).
The costs of switching to Streamline are minimal, with only an initial one-off payment of 25 (excluding VAT) being charged in order to create a Streamline account and set up the necessary rental and support services.

To demonstrate just how much your practice can save, we would like to use a typical client switchover as an example. As a BDA member, our client was eager to find services that would not only assist her practice, but would also benefit her patients. Having used his previous providers for the past four years, our client thought it was time to review her card processing facilities. During an average month, the practice has a credit card turnover of 5,600 and processes approximately 125 debit card transactions. The following list illustrates how much was saved during the year:

Clients savings

Typical Rates

Credit Card charge – 1.8%
Annual Credit Card cost – 1209.60
Debit Card charge – 0.250
Annual Debit Card cost – 375
Monthly Terminal lease (inc. VAT) – 21.15
Annual Terminal cost – 253.80
Total Annual cost – 1838.40

BDA Plus Rates

Credit Card charge – 1.21%
Annual Credit Card cost – 813.12
Debit Card charge – 0.17
Annual Debit Card cost – 255
Monthly Terminal lease (inc. VAT) – 11.75
Annual Terminal cost – 141
Total Annual cost – 1209.12

Total Annual BDA Plus Savings – 629.28

In total, an annual saving of approximately 629.28 was gained, leading to an average saving of 52.44 per month. When you add everything up, the savings gained through these preferential rates alone could pay for your BDA membership, to name but one benefit.

The Process

The process itself is very simple; after receiving an initial enquiry, a member of the BDA Plus team will contact you in order to discuss our rates and to make sure that you are aware of all possible options available.

An application form is promptly sent to you, which serves as a thorough assessment, so that Streamline can ensure that their services correspond with your needs. On completion, the form is returned to BDA Plus, checked and then forwarded to Streamline. From there onwards, Streamline take control of the application, and finalize the set up. An engineer will be promptly sent to your practice to install the new debit and credit card processing facility, which should only take around twenty minutes to complete.

Switching to our debit and credit card processing in your dental practice is only one example of using BDA Plus to get more from your membership. Here at BDA Plus, we are dedicated to providing Insurance and Financial Services tailored to the needs of the dental professional. We can provide your practice with a suite of services specifically designed for the needs of you and your practice, offering additional preferential rates for BDA members. Whether looking for Practice Insurance, Practice Overheads Protection or Commercial Finance, we are confident that our services will meet the needs of your practice. We are also proud to offer you a variety of products designed to protect your personal finances too, including Home Insurance, Income Protection and Retirement Planning.

We are always happy to provide guidance to find the best solutions for you and your practice. If you would like further advice on any aspect of this article, or would like to discuss the best financial options open to you, please do not hesitate to contact us on 0845 130 1366.

Notes

Lloyd & Whyte Ltd is authorised and regulated by the Financial Services Authority.

BDA Plus is a trading name of Lloyd & Whyte Ltd used under license from the British Dental Association.
Calls may be recorded for use in quality management, training and customer support.

The Pros And Cons Of Credit Card Debt Settlement

Are you a self-confessed shopaholic who buys anything and everything that you get your shopping addicted hands on? Such thoughtless and impulsive buying will most likely result in the accumulation of a bunch of junk that will simply collect dust. Can you even remember that silk scarf you just had to have and since it was a virtual steal at 50% off you just had to buy it? Where is it now and how many times have you actually worn it? Is it still fashionable?

If you’re like most people, chances are you’ll have to rummage through bins and bins of collected shopping “litter” which you’ve accumulated through the years, just to be able to see that once precious scarf. You may still be in a state of denial by saying “Fashion goes round and round and that scarf will have its shining moment once again.”

Unfortunately, many people fall into this mode of impulsive buying that they really can’t afford and before they realize it they become saddled with debt. If you fall into this category, you’ll soon need to learn a thing or two about debt settlement which can assist you in extracting yourself out of that self-imposed state of financial trauma and begin to start rebuilding your life bit by bit. And the time to start is now! Of course, you have to be honest with yourself, admit that you’ve got a serious debt problem and then humble yourself enough to seek the help you need to pull yourself out of this devastating ordeal.

First things first, a lot of people may actually think that they only have a few choices when it comes to solving their debt problems. The two most common options for those who are burdened with enormous amounts of debt are either to consider declaring bankruptcy or debt consolidation. Unfortunately, if you take the easy way out by declaring bankruptcy, it will leave an embarrassing and indelible mark on your credit report for up to 7 years, which will result in higher interest rates, less credit and if you try do qualify for a mortgage (some lenders do give loans immediately after bankruptcy) you will most likely not be able to get a loan to cover 100% of the financing you need. Normally, an 80% first mortgage and if you can get a second mortgage, it will be at much higher interest rate and probably only 10% of the loan value for a total of 90% of the loan to value and you’ll have to come up with 10% down.

Clearly, everything will come with a higher price for a period of time but you’ll have to weigh that with a straight debt consolidation solution in which you pay off your debt. However, in many cases you can negotiate with the collection agency and it’s realistic to get 25% – 50% of the debt forgiven, if you can show that you’ll continue to make monthly payments until the remainder is paid off.

Many of the debt settlement / debt consolidation companies were actually established by the credit card companies themselves. Why, you ask… because it only makes sense for the credit card companies to help you pay off your debt because they can either forgive some of the debt or reduce the interest rates, lower the monthly minimum payment requirements or some combination and get paid a portion of the money owed or receive nothing if you declare bankruptcy. What would you do if you were in their shoes? The answer is obvious. This is why a lot of people who have been saddled with debt are now being offered debt settlement. Of course, not all debt consolidation service companies are owned by credit card companies but many are.

Some groups offer debt settlement programs through arbitration. The “selling point” when it comes to these kinds of solutions is that debt settlement will actually help end your debt problems, without having to go through declaring bankruptcy, without having to pay overcharged debt consolidation program fees as well as helping you avoid getting caught in the debt consolidation trap that a lot of people have fallen victim to.

In many cases, what the organizations do that offer debt settlement services is negotiate your debt down with the collection agencies that have been given your case. I would encourage you to contact a number of companies to ensure you feel comfortable and that you are working with a quality company that doesn’t over-charge you for their services.

On the other hand, if you would really like to save money, which only makes sense since you are already heavily in debt… then negotiate with the collection agency yourself. It’s not difficult, rather than getting upset when you get called night after night simply tell the collection agency rep that you would like to pay off your debt but you can only do it if you can get it reduced and then ask them that you would like to get the debt you owe reduced by 50% – 60%, even 75% and ask them to see what they can do. Ask for a lot up front because as in any negotiation there’s always a give and take. Believe me, they will go to work for you and your offer will be seriously considered because they only get paid when they collect and it’s better to get their percentage on a smaller amount than “diddly squat” on the full amount.

Of course, you’ll have to decide what route you want to take… bankruptcy versus debt settlement but shop around and realize that you do have options. The internet is full of companies offering their bankruptcy or debt settlement services, but be careful and don’t let them push you around and never work with anyone you don’t feel 100 percent comfortable with.

Data Gathering And Cascading Metrics In Busy Business Settings

As a businessman, there are aspects in your company that you view as the most important things. These are those that you believe can contribute in the success of the company. Metrics are often used to measure the efficiency of your business when aligned with the goals that you have defined beforehand. As effective and useful as your metrics may seem, there are times when you will doubt its functionality in the business. One of the main reasons to this is because you did not choose to perform the method of cascading metrics.

Now, if you are wondering what cascading metrics approach is, here is the answer: this is a simple way of communicating with all the people in your company about the efficiency and the use of the metrics. You will notify them of what your companys goals are and in line with those objectives, you will give them the metrics that will help them see just how they can achieve those goals. Metrics are like progress bars that will aid them in seeing how far they still have to work in order to achieve a specific objective.

Most of the time, the managers of the company keep the data and the metrics in their offices. They do not allow the metrics to flow into the whole enterprise. Cascading metrics is very useful as it is the solution to communication problems. One of the most measured aspects in the business is the ROI or the return on investment. The cash that you have spent on a particular activity, process or system should go back to your companys vault since this is what having a business is about. C-level executives consider ROI as the most important concern in their business and thus, they need to measure this in the right way so that they will know what they should do when it comes to making decisions in this area.

Another issue that is often measured is the accountability. Key performance indicators have to be chosen carefully in order for a businessman to see how his companys accountability. Aside from this, finance and the internal operations are among the most measured aspects in the business. Now, there are common misconceptions about the creation of metrics. In fact, this is the process that is considered as the most difficult part. In this stage, you will have to identify the essentials in your business without bringing up the other areas that are usually thought of as influential.

Remember to measure the soft numbers instead of the hard ones. This means that you will have to measure those that can bring about hard results. An example of this is when you want to measure the ROI. The return on investment will be much higher if you make sure that your employees and your customers are happy. Therefore, you should be able to gauge the perceptions of the people instead of focusing on the financial numbers themselves. With the aid of the balanced scorecard, cascading metrics will help you gain good financial results without neglecting the other parts of your business.

The Top Ten Characteristics Of The Best Credit Card For You

Credit cards are fast replacing cash as currency, as they offer convenience on purchases. Large amounts of cash can make you susceptible to robbery. An ATM card, on the other hand, may be useless if there is no ATM close by. Credit cards can allow you to make emergency purchases, buy the things that you want, and pay the debt later.

What is the best credit card for you? Before you scout for a credit card to meet your needs and wants, take note of the following characteristics of the best credit card.

1.The best credit card for you will have a credit limit equal to about four times the amount you can afford to pay per month. To determine this, you will need to look at your spending habits, as well as your bank account. Despite the fact that a lower credit limit will impair your freedom to spend, it can also discipline you into better spending habits.

2.The best credit card for you will have cash back guarantee incentives. A cash back incentive simply means that you will be getting about one percent back off your purchases of certain goods or services. Such cash back incentives can be useful when you purchase expensive items such as luxury goods or gas, or if you pay the electricity bill.

3.The best credit card for you will offer rewards incentives. For every specified amount of purchase, you can be awarded points. These points can be accumulated and, at certain amounts, can entitle you to gifts. Such gifts may include certificates for discounts at credit card partner establishments, appliances, or even trips abroad.

4.The best credit card for you will translate your rewards points to airline frequent flyer miles. This can be advantageous if you travel and spend a lot the more airline miles you accumulate, the more chances you have of availing of free trips.

5.The best credit card for you will impose reasonable interest rates on unpaid credit card debts. This can be important if you need to spend a lot, but earn a moderate to a low salary.

6.The best credit card for you will have a longer grace period for you to settle your payment.

7.The best credit card for you will have no annual fees on the first year of use and, if you must pay annual fees for the years thereafter, these annual fees will be much lower. In fact, some credit card companies waive the annual fee for clients who are in good credit standing.

8.The best credit card for you will have incentives the moment you get your hands on the credit card. Some credit cards can offer gifts by virtue of their being used for the first time. Such gifts may include gift certificates, discounts at restaurants, or even a free pair of shoes!

9.The best credit card for you will have twenty four hour customer service support, and will have a secure server that will ensure that your identity and credit card information are not stolen. This is important nowadays, where credit card theft runs rampant, online or offline.

10.The best credit card for you will be one that you can use in as many establishments as possible, and in as many countries as possible. The wider the reach of your credit card, the easier it will be to use, and the easier it will be for you to buy the goods and services that you like.

In short, the best credit card is one that meets your needs and wants even before you recognize what they are. When you finally get your credit card, use it wisely, and you will certainly enjoy its advantages.

Reasons Why A Secured Visa Credit Card Is Better Than Prepaid

Many people assume that a prepaid Visa card is the same thing as a secured Visa credit card. This actually couldn’t be further from the truth. A prepaid Visa credit card is significantly different from a secured Visa credit card. Here are five reasons why.

1. The Credit Factor

If you’re trying to decide between a prepaid credit card or a secured Visa credit card, chances are that your credit isn’t exactly spotless. If you want to improve your credit rating, understanding the differences between prepaid cards and secured cards is critical.

If you opt for a prepaid credit card, you’re not doing anything to improve your credit rating. This is because prepaid credit cards typically aren’t reported to the credit bureaus. On the other hand, when you are issued a secured Visa credit card, your account activity is reported to the credit bureaus, improving your credit.

By managing your secured Visa credit card properly, you aren’t just gaining access to a credit card and the benefits that go along with carrying one, but you’re also increasing your credit score and rebuilding your credit history.

2. The Money Factor

There is one thing that prepaid credit cards and secured credit cards have in common. Whether you open a secured credit card or a prepaid credit card, you’re going to have to send in money. That, however, is where the similarity ends.

When you give money to a prepaid credit card company, they credit the amount to your prepaid card and then you can spend the money you’ve put on it. That’s it — end of story. When all the money is spent, you either add more or throw the card away.

When you send in money to open your secured Visa credit card account, the money is put into a savings account and you earn interest on that account. Then the credit card company extends you a revolving line of credit equal to the amount of that account.

3. Monthly Statements

When it comes to a prepaid credit card, there aren’t monthly statements to pay. With a secured Visa credit card, however, you receive a monthly statement that must be paid on time (or it will affect your credit). You will have the choice of paying the minimum amount due, the balance in full or anything in between. This activity is then reported to the credit bureaus.

4. Hotels and Cars

Nowadays when you check into a hotel they ask you whether or not you are using a prepaid credit card and many hotels and car rental companies won’t even accept prepaid credit cards as a form of payment. However, there is nothing differentiating an unsecured credit card from a secured Visa credit card, which means you can use your secured card to book hotels and car rentals without any hassle.

5. Moving Forward

If you carry a prepaid credit card, there will never be a chance of it evolving to an unsecured credit card. However, it is not uncommon for a secured Visa credit card to evolve into an unsecured credit card once you have established a payment history and have proven that you can be trusted with the card.

So while a prepaid credit card may look a bit like a secured Visa credit card, the fact remains that they are very different in many ways. If you want to rebuild your credit, then a secured Visa credit card is really the only way to go.

The Unethical Way To Raise Your Credit Score By 200 Points In 60 Days

These Tips were taught to me in 2009 while I attended a seminar on credit repair. Ok no more small talk the only way I know how to raise you credit score by 200 points like I did (right after my third time of filing bankruptcy) in 60 days is as follows.

1) Get a copy of your latest credit report, no more than 60 days old.

2) Write all three credit bureau by certified mail only and challenge everything negative on your credit report even if it is reporting correctly, just say it’s the wrong account number or it’s been paid in full already. Including liens, bankruptcies, and inquires. It must be certified they only respect letters that are certified. Do not do any of this online, because if you do they will have 45 days to complete their investigation rather than the 30 days.

Your letter should look something like this:

Your Name
address
city,state,and zip
telephone number

Attention: Experian
P. O. Box 9595
Allen, TX 75013-9595

Dear Experian

This letter is a formal request to correct inaccurate information contained
in my credit file. The items listed below are completely inaccurate,erroneous,
misleading, and outdated.

I have seen a copy of the credit report your organization provided to me on
(today’s date) and listed in question.

Company Name: Collection
Account # 12354XXXX
This account was paid in full and was not included in a BANKRUPTCY, please
let this record show that they were paid in full before going into collections.

Company Name: Bank A
Account # 38741720XXXX
This was paid in full and never went into collections or was it ever charged off.
Please correct this to show paid in full and never going into collections, or
remove this item based on account being closed in 2002 when it was paid in full.
As you know, the FCRA states that all credit older than 7 years should be removed
from my report.

Company Name: Bank 1
Account # 3786XXXX
This account was paid before going into collections, pleased change the payment
status to Current

Company Name: Credit Card
Account # 63850XXXX
This account was paid before going into collections, pleased change the payment
status to Current.

Company Name: Credit Card 2
Account # 3235XXXX
This account was paid before going into collections, pleased change the payment
status to Current

Company Name: Repo
Account # 654XXXX
This account was paid before going into collections, pleased change the payment
status to Current

Company Name: Bank 3
Account # 355343XXXX
This account was paid before going into collections, pleased change the payment
status to Current

Company Name: Bank 4
Account # 7657XXX
This was paid in full and never went into collections or was it ever charged off.
Please correct this to show Current and never going into collections.

Company Name: Credit Card 4
Account # 7837XXXX
This was paid in full and never went into collections or was it ever charged off.
Please correct this to show Current and never going into collections.

Company Name: Credit Card 5
Account # ryt4hh3XXXX
This was paid in full and never went into collections or was it ever charged off.
Please correct this to show Current and never going into collections.

Chapter 13 Bankruptcy
Case Number # 5yr5344LS
Please remove this from my file I have never filed Chapter 13 Bankruptcy

In addition, there are a number of erroneous credit inquiries on my record as well.
The following inquiries should be removed:

Company Name: KOHLS/CHASE
Date: 03/06/2010

Company Name: KOHLS/CHASE
Date: 02/14/2010

Company Name: UNITED CONSUMER FINL S
Date: 05/15/2009

Company Name: RESIDENTCHECK.COM
Date: 11/25/2008

In accordance with the federal Fair Credit Reporting Act (FCRA), I respectfully
request you investigate my claim and, if after your investigation, you find my claim
to be valid and accurate, I request that you immediately delete, update, or correct
the item.

Furthermore, I request that you supply a corrected copy of my credit profile to me.
Additionally, please provide me with the name, address, and telephone number of each
credit grantor or other subscriber that you provided a copy of my credit report too
within the past six months.

If your investigation shows the information to be accurate, I respectfully request
that you forward to me a description of the procedure used to determine the accuracy
and completeness of the item in question within 15 days of the completion of your
re-investigation as required by the Fair Credit Reporting Act.

I thank you for your consideration and cooperation. If you have any questions
concerning this matter.

Sincerely,

your signature

2) Know this the company’s that are reporting to the credit bureau, have only 30 days to report their findings back to the credit bureau, often they will not do this because the account was sold to another company, or they just do not have the manpower to do this step. So this is why you must tell the credit bureau exactly what you want, delete or current. Otherwise the credit bureau will often just report “Account in dispute by subscriber” and leave the report as is.

3) You must write and send a certified letter every two weeks until your credit report looks right and your credit score goes up to or above 650 on all three reports. Second letter should look like the one I used below listing all accounts again. This is the one that matters more because 91% of the people that complain about something on their credit report will only write one time. this simple letter puts you in the top 9% and they will make some changes on the report that will benefit you.

Second letter looks like this:

Your Name
123 Your Street Address
Your City, ST 01234

Credit Bureau
Credit Bureau Address
Some City, Any State 56789

Date:

RE: Dispute Letter of Date you sent in first or subsequent requests

Dear Credit Bureau,

This letter is formal notice that you have failed to respond to my dispute letter of date. I sent this letter registered mail and.

As you are well aware, federal law requires you to respond within 30 days. It has now been close to that period since your receipt of my letter. As you are no doubt aware, failure to comply with federal regulations by credit reporting agencies are in serious violation of the Fair Credit Reporting Act and may be investigated by the FTC. Obviously, I am maintaining detailed records of all my correspondence with you.

I am aware that you may have misplaced my letters or have failed to respond to my letter because of an oversight due to the high volume of the requests you receive daily. If this is the case, I’m sure you’ll want to handle this matter as soon as possible.

The following information therefore needs to be deleted from the report as soon as possible:

Company Name: bank loan
Account # 2226441720XXXX
Please delete this erroneous item from my credit report as soon as possible.

Company Name: collection
Account# 22264417XXXX
Please delete this erroneous item from my credit report as soon as possible.

Company Name: Collection (491YC00000)
Account# 1085745XXXX
Please delete this erroneous item from my credit report as soon as possible.

Company Name: Collection (496YC00000)
Account# 1708XXXX
Please delete this erroneous item from my credit report as soon as possible.

Company Name: Collection (496YC00000)
Account# 1248XXXX
Please delete this erroneous item from my credit report as soon as possible.

Company Name: Collection (496YC00000)
Account# 1996XXXX
Please delete this erroneous item from my credit report as soon as possible.

Company Name: Collection (905YC00000)
Account # 2160XXXX
Please delete this erroneous item from my credit report as soon as possible.

Sincerely,

your signature

Your Name
SSN# 123-45-6789

4) Know this after the second letter they will make to keep you from writing over and over, such as if company A tells the bureau you owe them $10,000.00 and you are late and have not paid in 18 months. The bureau will often mark the account as being current, after the second letter you will have the most things coming off the report.

5) You must tell the credit bureau what you want your report to say, so make sure you tell them to delete the items you want deleted, or tell them you want the item to say current, paid in full,ect.

6) Your 3rd letter should be sent out after about 4 – 5 weeks after the first letter, you will by now see some to plenty of changes on your report. It it important not ask the credit bureau to remove stuff that was already removed so be sure not to send the third letter until you received a letter from them telling you about your updated items. Or just go online and get a new credit report, at this point you will not have as many things on your report you had when you started. Your third letter should look like like the one I used below:

Your Name
123 Your Street Address
Your City, ST 01234

The Credit Bureau
Bureau Address
Anytown, State 56789

Date

Dear Credit Bureau,

This letter is a formal complaint that you are reporting inaccurate credit information.

I am very distressed that you have included the below information in my credit profile due to its damaging effects on my good credit standing. As you are no doubt aware, credit reporting laws ensure that bureaus report only accurate credit information. No doubt the inclusion of this inaccurate information is a mistake on either your or the reporting creditor’s part. Because of the mistakes on my credit report, I have been wrongfully denied credit recently for a home, which was highly embarrassing and has negatively impacted my lifestyle.

The following information therefore needs to be verified and deleted from the report as soon as possible:

Company Name: Collection (491YC00000)
Account# 1085745XXXX
Please delete the above information as quickly as possible.

Company Name: Collection (496YC00000)
Account# 1708XXXX
Please delete the above information as quickly as possible.

Company Name: Collection (496YC00000)
Account# 1248XXXX
Please delete the above information as quickly as possible.

Company Name: Collection (496YC00000)
Account# 1996XXXX
Please delete the above information as quickly as possible.

Company Name: Collection (905YC00000)
Account # 2160XXXX
Please delete the above information as quickly as possible.

CREDITOR AGENCY, acct. 123-34567-ABC

Please delete the above information as quickly as possible.

Sincerely,

your signature

Your Name
SSN# 123-45-6789

7) Your 4 letter should be a repeat of your first letter and this should go out two weeks after you last letter.

Does Your Company Need To Prepare Group Accounts

Due to changes in the 2006 Companies Act, there have been some amends to the requirements of Groups preparing company accounts for their subsidiary companies. Following is a brief breakdown of the changes and what they could mean for your company.

Following changes to company law, medium sized groups will now be required to prepare group accounts to be filed at Companies House – Small and medium sized groups were exempt from this previously.

If your company is the parent company of a mid sized group of companies, then you must prepare accounts that combine both your own financial performance and position AND the subsidiary companies.

Such accounts are known as “group accounts”.

Group accounts can be fairly complex depending on the size of the parent group and the number of companies within it.

How do I know if my company is affected?

The 2006 Companies Act had a phased implementation – with the exemption for mid sized group accounts being removed for accounting periods beginning on or after 6 April 2008.

This means that companies with a year end of 30 April 2009 were the first to be affected.

However, if your company has an unusual year end (or prepares accounts for less than one year) your company may have been affected slightly sooner.

For a group of companies to be qualified as medium sized (not small) two of the following three thresholds need to be exceeded for two consecutive years:-

Turnover – 6.5m net (7.8m gross)
Gross Assets – 3.26m net (3.9m gross)
Employees – 50

How do I know if my company is part of a group?

A group of companies is when one company has a controlling interest in one or more other companies – ordinarily the “parent” company will own more than 50% of the ordinary share capital of the “subsidiary” company.

Are there any exemptions?

Yes. Small groups of companies will remain exempt as they always have been from filing group accounts with companies house.

Parent companies which are also a subsidiary company are likely to be exempt. Provided that they form part of a larger group of companies for which group accounts are prepared.

Parent companies whose subsidiary interests can be considered immaterial are also exempt.

If you have any questions about the changes to preparing group accounts and how they will effect your company, contact your chartered accountants firm.

College Reward Charge Card

A college reward charge card is a sort of bank card that is set up to perform as any common bank card would, however the target market is barely different. These bank cards are provided to college students of school or university age. The only stipulation is that these students have to be of legal age and presently attending higher education. As soon as the coed graduates, they will proceed utilizing the credit card but some of the terms might change.

A reward bank card may be obtained almost anywhere. Many banks, regional or national, and most major charge card providers offer these credit cards. The types of incentives each pupil reward credit card provide will vary from card to card. A little analysis into the specific reward each card provides should slender the field for which pupil rewards bank card is the appropriate one.

One sort of reward supplied is airline mileage. How the mileage is earned will vary from card to card but the amount of cash put onto the cardboard will decide how many miles are earned. These miles may expire over a sure time frame but most firms, if you’re a protracted and dependable customer, will prolong that expiration date if want be.

Cash reward are another type of reward that is available. A specified percentage, usually 5% to 20%, is gained on the sum of money spent at specific retail stores. That amount is translated into points and those rewards points is going to accrue gradually. These reward points can then be redeemed for cash that’s utilized towards the stability on the credit card. Another option for the factors is to redeem them for prizes. The prizes will fluctuate from card to card and company to firm however there are often an unlimited amount of prizes from many classes to choose from.

A reward charge card, regardless that it is supplied to a young group of people, is a great technique to build credit and a credit score. These charge cards, whenever utilised responsibly, may be a good way to deal with any wants which will come about and get a great start on daily life. The reward packages that go together with these charge cards are simply an added bonus.

Lots of young people try and obtain a bank card when they are at college. This may be incredibly difficult to do when an undergraduate lacks the previous personal credit history. Thankfully, you’ll find college charge cards without credit history for college kids in want of a credit card. These credit cards enable a student to learn to turn out to be extra financially sensible whilst also starting out her or his personal credit history so that you can take advantage of completely new opportunities.

Several students benefit from pre-paid charge cards mainly because it allows them to set financial limitations with no over-spending. This may often be a lot easier to manage than a charge card with excessive spending limits. There are a selection of pre paid bank card opportunities. Such bank cards really are ideal for college students without consumer credit.

Dangerous Credit Visa Cards

In response to the Federal Reserve Bank report, forty % of the American families spend greater than they earn or overuse credit cards. In different words, almost half of the American families overuse credit cards but we dont need to be generally known as a deadbeat among collectors and lenders. In reality few folks deliberately got down to accumulate so much debt that it becomes nearly impossible for them to eventually pay it off and get back on their toes financially. Nonetheless, yearly hundreds of thousands of people find themselves experiencing dire financial issues. The problem of overuse of credit cards primarily amongst People and likewise others can actually be remedied.
You will qualify for $100 bonus money rewards if you use your new bank card account to make any mixture of Buy transactions totaling no less than $500 (exclusive of any transaction fees, returns and changes) that put up to your account within ninety days of the account open date. Restrict one (1) bonus cash rewards provide per new account. This one-time promotion is proscribed to new prospects opening an account in response to this supply. Other advertised promotional bonus money rewards offers can vary from this promotion and might not be substituted. Allow 8-12 weeks from qualifying for the bonus money rewards to submit to your rewards stability.
Secured bank cards are often given to these with unhealthy or no credit score history. A deposit is made; say $500, which supplies the shopper a $500 restrict. Secured cards work somewhat like a debit card When you open a secured bank card account, you deposit a certain sum of money into the account, which then determines your credit restrict. Secured cards are precisely the identical as regular bank cards except for this characteristic, which is a prerequisite for the extension of credit score The sum of money that it’s essential to deposit into the financial savings account varies with every program, however generally it determines your credit restrict.
This site was simple to use and had the data like rates of interest and fees simply accessible. They had been only a three-4 clicks away and were organized on the same page for all Credit cards supplied. The positioning presents you a utilization information, even though the thought was proper the execution was all improper. Take a look at this, the title says How you can read the Month-to-month Credit Card Statement however has nothing apart from a display shot of mock assertion and some 2 liners. They’ve defined the apparent and not described complicated gadgets.
When you’ve got a really low credit score rating because of difficulty in paying on a mortgage or different credit cards it is tough to get a brand new card Sometimes due to lack of labor or medical situation a person has a problem paying their bank card debt. When you do not pay on your card or make late payments this causes you to get a low credit score rating. A low rating can stop you from getting a brand new bank card or making a mortgage for a significant item. It is a problem that many of us are dealing with because of our failing financial system.

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