Jul 25
President Obama recently signed the Dodd-Frank Wall Street Reform and Consumer Protection Act. It is commonly known as the Financial Reform Legislation and is designed to help prevent economic failure. To accomplish this it has many new regulations and restrictions on lending and credit. Its far reaching effects go all the way down to your individual credit score.
This legislation means your credit score is now more important than ever to get a loan or financing for both you personally and for small business owners whose personal credit is used.
Among other things, lenders will be required to certify that consumers have a reasonable ability to repay a loan. Lenders will look at your income closely, but this will also force more scrutiny on your credit score and credit report showing your prior ability to pay your obligations.
This means your credit score is now more important than ever to get a loan and especially a mortgage. It is interesting to note that Auto lending is exempt from this legislation, but your credit score plays a big role here too.
Make sure your credit score is the best it can be, before you apply for any loan. Also, make sure you have credit monitoring and identity theft protection.
How to get the best credit score possible.
No credit score will last forever. It w
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Jul 25
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Welcome to the First State Bancorporation Second Quarter Results Conference Call.
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Jul 21
I just read something on CNN that shocked me. When Facebook CEO Mark Zuckerberg was a mere 18-year-old college student at Harvard, he allegedly granted a businessman an ownership stake in what was then a small online side-project. Now it’s a billion-dollar Internet company, and New Yorker Paul Ceglia is trying to claim what he says is rightfully his.
Ceglia claims that he hired Zuckerberg in 2003 to work on two business ventures, one of which was “designed to offer the students of Harvard university access to a wesite [sic] similar to a live functioning yearbook with the working title of ‘The Face Book.’” Sound familiar?
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Jul 21
Accounting may or may not be right up your alley but it’s good that there are accountants and bookkeepers out in the business world for several reasons. Businesses need them at least four times a year for tax purposes which may seem somewhat of a hassle to hire if someone is strapped for cash but it is necessary to do each year. And since each businesses have different structure on what kind of services and/or products, it is wise to invest in hiring an accountant and/or bookkeeper. The more complicated it is, the better it is to hire one right away. You never know when things could go wrong such as when the IRS decided to audit you due to not enough proof for your taxes whether you believe it or not. S
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Jul 21
There are several aspects you should use for credit card comparison if you are considering getting a new card or transferring a balance. Make sure the credit card you choose is the one that will be the best fit for your financial needs. One thing that should be compared is the incentives many companies are offering today.
From the 0% APR to the gifts or points redeemable for gifts, there should be some type of incentive. Even if it is just paying on time, you should have a reason to stay with the credit card company you are using. Customer loyalty should be rewarded. Naturally you want the one that is offering the best rewards.
Another feature that some credit cards have is no annual fee.
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