How Do Public Records Affect Your Credit Score?

According to BSC Alliance, it’s estimated that anywhere from 1.3 to 1.5 million Americans file for bankruptcy protection each year. In 2013, Fox Business News reported that the IRS filed over 300,000 tax liens, or unpaid assessed money against your property or salary. Hundreds of thousands more Americans have court judgments filed against them.

So just what do bankruptcy, tax liens and court judgments have in common? They’re all types of public records – or public legal documents – that can appear, linger and negatively impact your credit score. In fact it’s estimated that bankruptcy alone can dock an otherwise good credit score of up to 200 points. But that might not be the worst part about this public record. Arguably the worst part about bankruptcy is that it can stay on your credit report for up to 10 years, if credit repair or debt management strategies are not applied. Yes, for bankruptcy – as well as many other types of public records – one way to repair credit is to wait out the years until it expires from your credit history. It goes without saying that a key credit tip to maintaining a favorable score is to avoid these public record pitfalls. Here’s some additional information on public records and how it can impact you:

Bankruptcy: We already covered a bit about how filing for bankruptcy impacts your credit score and how it can stay on your credit history for 7 to 10 years, depending on which Chapter you file for. Having a bankruptcy removed from your credit report is challenging and will require several disputes, but it is possible, as long as it has been discharged.

Tax Lien: Tax liens are filed either against your money or your property, indicating that you owe money to the IRS. But tax liens work a bit differently than bankruptcy and other public records. That’s because after you pay a tax lien, it is “released.” And although even tax liens that have been released can stay on a credit report for up to 7 years, you can contact the IRS and request that the released lien by withdrawn. If your request is granted, the lien is removed from your credit report immediately.

Court judgment: Judgments are filed after you lose a trial or ignore a lawsuit and a court grants the opposing party the right to claim money, property, etc. from you. After they’re filed, they’ll stay on your credit report for up to 7 years. Additionally, judgments can be re-filed within that 7-year span and tack an additional 7 years onto the time it will impact you. Needless to say, it’s wise to avoid judgements, whether it be with a creditor, landlord, etc. So if you believe a court date is imminent, do what it takes to explore settling outside of the courthouse. Your credit score will thank you for the next seven years.

Other public records: Other types of public records your credit score could be burned on include foreclosure, wage garnishment and past due child support payments.

Credit Score and Home Insurance

You already know how important a good credit score is to getting approved for loans and securing the best interest rates available on them. But there are other reasons to repair credit aside from low interest rates – like the impact it has on your home insurance premiums. Yes, contrary to what you may have heard elsewhere, your credit score has a direct effect on how much you pay for homeowner’s insurance. For instance, according to PropertyCasualty360:

- Homeowners with bad credit pay up to 91 percent more in home insurance premiums than those with excellent credit.
- Homeowners with average or good credit pay almost 30 percent more than those with excellent credit.
- The FICO score is used by about 85 percent of the nation’s home insurance providers in determining risk.
- West Virginia, Washington D.C., Ohio and Virginia are where there’s the biggest discrepancy between premium costs for those with poor vs. excellent credit.
- California, Massachusetts and Maryland are the three states that prohibit insurers from weighing credit scores into home insurance premiums.

Now there are a lot of factors that also determine an insurance premium (I.e. age of the home, proximity to water, crime rates, etc.), but it’s not unreasonable to think that someone with excellent credit could save hundreds of dollars per year compared to someone with poor credit when it comes to home insurance. Say for example that a homeowner with excellent credit pays $1,000 a year for home insurance. That same homeowner with poor credit may pay $1,910 per year – a whooping $910 more just because of their credit score.

So just why is your credit score weighed so significantly when you’re shopping for home insurance? It’s because creditors have found that the credit score is a great predictor of risk. Therefore, it’s implied that those with poor credit are more likely to file a claim than those with excellent or good credit. It doesn’t matter whether it’s fair or not – it’s a fact that your credit score is a big influencer on your insurance policies.

So if your credit score is lacking, you’re likely paying out the nose on your home insurance as well, making debt management and working to repair credit all the more important. Here are some credit tips on how to increase your score – and thereby save:

- Pay bills on time: This accounts for 35 percent of your FICO score, making on-time payment key.

- Get finances in order: If you can pay down your debt so that it’s around 30 percent of your total credit allotment, you’ll see your score rise.

- Check your credit: Get into a habit of occasionally checking your credit report and looking out for any errors. Errors are common and can negatively impact your score, so if you notice any discrepancies, contact that party and set the record straight.

- Don’t go crazy: Don’t think that closing a paid off account is the answer to credit repair. In many cases, it won’t. Why? Because when you close an account, you also reduce your total credit allotment. Conversely, opening new accounts to increase your allotment isn’t a great credit repair solution either – especially if you run those amounts up.

Credit repair is hard enough. Trust in our team to help you with your credit needs. You can find us by searching key credit repair either with Bing or Google.

Shopping Online Made Easy With Pier 1 Credit Card

Credit cards have become very popular and more businesses are offering credit cards to make the customer experience pleasant at all times. The cards have for the longest time been associated only with banking institutions. They have, however expanded to cover a variety of other service providers to make the convenience enjoyable across the board. Plastic companies are now offering more value through rewards using the plastic money. The Pier 1 Credit Card is one such card that has taken online shopping online to a higher level. Using the card, you can now shop online easy and fast and securely for that matter.

Getting Value from Your Card

When using this credit card, it is important that you take the time to know how the machine works. This makes sure that you are enjoying the best prices possible with every purchase. This is especially important with rewards because you want to know the monetary value that your purchase is worth. When you know the value of points that you accumulate, you will be in a position to know when it is best to redeem to enjoy greater value.

Using this card, you can enjoy a variety of products and services. It is important to evaluate which services and products are most important for you. When you know what you are targeting especially when accumulating points for rewards, you will be able to work with a strategy that comes to your rescue in the end. Frequent flier miles for instance, can be all the motivation that you need to keep using your credit card.

When accumulating your points, you will have two choices in the end. You can redeem the points for money or you can leave the points to accumulate so that you can collect discounts on purchases in the future. Acquisitions are usually created through check mailing or coupons depending on the option that you settle for. Always consider what is more valuable for you before deciding which way to take with your accumulated points with the Pier 1 Credit Card.

Travel miles can also be enjoyed using this card. Within the program, points are gathered to reach a level where they can buy air tickets. Considering how costly air tickets can be, it is without a doubt a program that is loved by many customers. It saves on travel expenses and you can finally enjoy that vacation that you have been longing for without worrying about your air ticket. This is an incredible way of compensating customers using the credit line.

To get the most from any of your credit cards, it is important that you make sure that you make your credit payments in time. It will be much easier to pay within the agreed time to avoid high interest rates and debts which could make your credit experience unpleasant. It makes it important to consider payment options and settling for what you are sure you can keep up with.

How the Financial Management Process Is Transforming

The process of financial management is one of the key processes in an organization. This process plays a vital role in supporting the corporate decisions, while meeting the regulatory and legal requirements. To run an organization smoothly, it is essential to manage its finances in an accurate and appropriate manner. This is why entrepreneurs hire an expert help or partner with a financial service provider to handle end to end accounting tasks.

With a comprehensive network of professionals, finance and accounting service providers bring together the right set of people at the right time to help entrepreneurs lead the financial market. By focusing on improving the performance and increasing the value of a business, these service vendors offer a range of financial services to bring a transformation in this sector.

Well-organized Financial Operations

By structuring and standardizing the accounting functions, an entrepreneur gets empowered to identify the improvement areas and recommend relevant suggestions to overcome industry challenges.

In order to explore the full potential of resources, financial firms integrate advanced technologies and applications that further automate the accounting processes and deliver timely reports and accurate results. This allows the in-house staff to shift their focus on other core areas. Service vendors offer robust platforms and resources to manage transactions and operations of the financial sector.

Service offerings:

• Market research
• Financial planning and management
• Accounting BPO Services
• Banking Services
• Financial research and marketing
• SLA management

With the help of a service provider, entrepreneurs can minimize the risk factor and maximize return on investment, on various financial decisions.

Other allied financial services include:

• General Ledger Accounting
• Accounts Receivable Management
• Accounts Payable Management
• Bank Reconciliation
• Collection Outsourcing

Effective Decision Making

The service vendors deliver an adequate financial plan & a performance management agenda so as to help an entrepreneur make better decisions. Entrepreneurs refer to financial forecasts before making any acquisition or adding a new segment to their business.

The process includes the subsequent offerings:

• Financial Information Management
• Cash & Working Capital Management
• Expense Management
• Financial Reporting & Analysis
• Budgeting & Forecasting

Financial Planning and Transformation

Making a financial strategy helps an entrepreneur redefine their business goals and ways to accomplish them. It helps a financial officer to evidently articulate the fiscal vision of an organization, analyze the process efficiency and develop a future ready business model.

To bring transformation in the financial processes, it is essential to understand the business needs and then plan ahead for success. Financial transformation involves a review of the entire process and explores the growth and challenging areas that an entrepreneur need to focus upon. Service providers suggest relevant changes to be implemented in a business for process improvement.
Due to new and improve methods and business solutions the process of financial management is transforming drastically.

Enjoy More Value With Your Value City Credit Card

Credit cards have brought great convenience to the modern shopper. They have eased shopping, making it possible to shop anywhere, including online stores. The cards are plastic money that everyone needs to make life less tedious and more pleasant for every shopper or buyer. The Value City is a furniture store that is a large chain and it has introduced the Value City Credit Card. It has provided an easy shopping process for the customers. Using this card, you can now shop for your favorite furniture pieces with ease. You can enjoy more value through the benefits that the credit card offers you.

No more cash carrying

The credit card makes it possible for you to buy your items without the need to carry large amounts of money. Whether you are going for high priced or cheap items, you will enjoy the convenience of cashless payments. Now you can buy as many pieces as you wish without the need to carry a money bag with you.

Enjoy good credit score building

Credit scores are very important for your financial needs. This credit card helps you build a good credit score. This is especially when you make sure that you pay your bills on time to avoid debts. This card offers you the chance to apply for other loans such as car or home loans that you need. With a good credit history using the credit card, you will find it easy to access the loans that you need to improve your life. It helps you secure a financial future you can trust to save your day when you need help the most.

Enjoy big savings

This is especially for large purchases which attract promotional deals and discounts using the Value City Credit Card. Any discount whether it is 10% or more can make a huge difference for you and this is exactly what you will enjoy when using the credit cards. Large furniture purchases for remodeling projects or other projects will be much cheaper for you when using the card.

Enjoy cost effective and easy buying

This is because the card attracts loads of promotions and discounts that you can enjoy during purchases from time to time. When you are a regular customer, you will have plenty to enjoy and you will find your buying easy and cost effective which is what every shopper is looking for.

Enjoy interest free financing

This is considering that the card offers you a whole year of shopping without minimum purchasing limit and interest to the credit amount. It is something that you do not get to enjoy every day with many stores making the credit card quite beneficial to you. You can now shop as much as you want to without worrying about hefty interests for a long period of time. Interest rates after this period is still very considerate and you will find it easy to pay your credit on time to make sure that you stay away from debts.

How to Reduce and Save Accountants Fees

Whether you are hiring an accountant for personal or business use, you want to make sure it is cost effective and that you are saving money where necessary. It is not always cheap to utilise the professional services of an accountants, but it is vital to the success of your business if you are not experienced in financial areas.

There are always ways you can reduce your accountancy fees:

Speak to your accountant

If you feel comfortable enough with you accountant, see if they would be happy to reduce your fees for either the short or long term. Or if there is anything you can do yourself that will help reduce fees.

Move to a cheaper accountant

Most accountancies will offer free consultations and provide no obligation quotes for the services you require, it doesn’t hurt to ‘shop around’ and see if you can get the services cheaper elsewhere. Remember though, just because another place is cheaper, you could be compromising the level of service.

Make sure your books and bank statements reconcile

If you do this yourself it will reduce the amount of hours required by the accountant, particularly if this is the first month you have hired one. If you can check the numbers match up then you will be able to reduce your fee.

Prepare everything well in advance

Get everything ready for your accountant in advance, ensuring you have all the necessary documents and forms that will help them. Some ways you can help yourself with this is by:

• Ensuring you have a separate business account that only business transactions go through
• Keep hold of all your receipts and invoices and keep them numbered and in date order. Also, write on your receipt what it was for, if it doesn’t say anywhere else
• Keep all your credit card and bank statements in the same place

These little things will help reduce the amount of bookkeeping time you will need to use an accountant for, therefore ultimately reducing bill amounts.

Try arranging fixed fees

Most accountants will be able to arrange fixed fees for the services they provide. Try and discuss this with your accountant as soon as possible to ensure you are getting a good price. Throughout the time you use the accountant be weary of any extra charges that may arise.

By following these steps you will be able to save some money on your accountancy fees. Remember that your accountant is there to help and advise you, if this isn’t happening then you need to reconsider.

Seven Things To Do With That Pile Of Coins

Although most people view loose coins as an annoyance, they are valid currency and a way to accomplish small tasks or have a bit of fun when you’re low on cash. Here are seven things to do with the change that’s accumulated throughout your house.

Get an Ice Cream

If you have a bunch of change at your disposal, take a friend or sweetheart out for a small scoop. You’d be surprised how much you can get at a local ice cream shop for a collection of quarters and dimes.

Take In The View

Visit a local park and pay for the viewfinder binocular machine. They rarely cost more than a dollar and are a great way to take in a spectacular view. Enjoy the sunset or gaze into the forest with only the change in your pocket.

Make a Wish

This is as cheap as a penny. Find a wishing fountain and toss your coin in to make a wish, but don’t tell anyone what you’ve wished for otherwise it won’t come true. While you’re out there, take in the fresh air and a stroll to clear your mind. It isn’t often that you’ll have an opportunity to slow down and take in the world.

Start a Piggy Bank

Accumulate your money by starting a piggy bank. This can be as easy as collecting all of your change into a jar in your home. Not only will this pile up into a bit of money, it will come in handy if you’re ever in need for laundry quarters or air in your tire. If your collection grows large enough, it might incentivize you to open a savings account and put more money into savings each month.

Give The Gift of a Vacuumed Car

There’s no greater gift than the gift of giving. Furthermore, a gift doesn’t have to be expensive to be meaningful. If you’d like to offer someone special a way of saying thanks, offer to freshly vacuum their car. Most people commute in their cars each day and don’t realize the dirt that builds up in the foot spaces until it’s cleaned. Most car wash vacuum services cost a dollar in quarters and only a few minutes of time. Your friend will thank you for it.

Enjoy a Coffee

Trade in your coins for a cup of java. Instead of charging it to your card, utilize the change you’ve collected. If you make this into a habit, it’s likely to reflect in your checking account.

Trade In and Cash Out

If hauling around change isn’t an appealing idea to you, trade them in and get cold hard cash. Machines like CoinStar count your change and print out a cash voucher that you can redeem right afterward. Who knows, the jar of coins you’ve been stockpiling could earn you an extra twenty dollars.

When you’re bored and low on cash, remember that you likely have a few dollars worth of change to spend. Have fun with it!

Financially Savvy Bookkeeping Administrations to Cultivate Business

Accounting has been an essential piece of business strongholds since time immemorial. Accounting is massively mindful occupation and an overall kept up book can help the business develop, and can help the top administration settle on critical choices like where to make the monetary allowance cuts in times of emergency and so on. Accounting today has advanced from physical work into a complex developed framework that makes utilization of innovative programming.

Accounting administrations today not just involve overseeing logs of benefits and misfortunes; additionally have an obligation of helping the clients with administration, bookkeeping services, and assessment operations and so on. A decent accounting administration will diminish the financing and bookkeeping expenses greatly. The accounting procedure happens in four steps- recording the fiscal transactions, characterizing the transaction into their particular fields, condensing the bookkeeping and monetary information into effectively understandable dialect making helpful reports focused around perceptions of the bookkeeping books. Nearly every establishment, be it a recently begun business or a veteran business, have the accompanying accounting administrations in as a relatable point.

• Day to day accounting: This is, as the name intimates the book passages of every day happenings in the organization. One needs to log in every budgetary transactions of the day.
• Book adjusting: This is adjusting the records book, keeping an eye on any inconsistencies that may emerge, and altering them as quickly as time permits.
• Managing quarterly records and quarterly VAT returns
• Managing yearly records and returns
• Document stockpiling and information passage
• Keeping a scout government forms

Since the world has jumped on to the web fad, it has ended up progressively simple to impart and organize data. Accounting excessively has developed to make the best utilization of this, and since most or all information is computerized, accounting has gotten to be less demanding to outsource. A server based accounting administration requires the customer to transfer the first reports to their protected server. For this situation, the accounting organization will have the capacity to upgrade the books and re-transfer it to the server, from where the customer can download it. In different cases, the customer is required to let the organization get to their books straightforwardly, which permits them to overhaul the books remotely.

Accounting includes utilizing different machine projects to give the most precise results and productive administrations. Probably the most widely recognized programmings utilized are Quicken, Peachtree, Quickbooks, and so forth. One needs skills in preparing and specialized know how’s to have the capacity to work these projects, and upgrade books.

Offshore outsourcing companies comprehend the estimation of time and are constantly reliable with their entries. They utilize the best techniques that consent to worldwide models to give the best conceivable administration to the client.

Why Would You Need A Bridging Loan?

When purchasing a new property, you need to put in the money for down payment. You might have applied for a mortgage but it will take 90 days to come through. In the mean time you will want to move into the new property but your existing property is yet to be sold. How will you meet the down payment and do this? Apply for a bridging loan.

How Can A Bridging Loan Assist You?

Short term bridging loans were once used by property developers and landlords, but they are now gaining popularity with home buyers. The reason for this is that they are easy to obtain. The loan application process can be completed quickly and the loan amount is credited to your account in a short while. This helps to quickly proceed with purchasing a new home by making the down payment. This way you don’t have to lose out on getting an attractive property because of lack of a small amount of money needed to make down payment. This loan has a short duration and so repayment will be completed quickly. Unlike a home mortgage it will not carry on for a period of 15 to 20 years. The minimum loan duration is 2 months and the maximum is three years.

If your existing home is going to be sold within the next six months, you can inform the lender that you will start making repayments on the bridging loan after this period. You can also opt to pay interest plus entire loan amount after six months. If the home sale occurs earlier you can settle the loan amount faster and avoid having to pay interest. It is to be noted that this loan carries a high rate of interest so it is better to repay sooner than later. Since you can defer payment for some time, till sale of your property happens, there is no need to hurry up with a sale. You can wait till a buyer offering a good price arrives and then complete the sale.

Short term bridging loans are what market savvy home buyers opt when they need to close the deal on an attractive property. They can get the dream property they want, in the price that is most optimal for them by using this loan to make the down payment. Without this loan, it is not possible to get the property on time. Lenders also offer this loan to cover the mortgage of an existing home. So if a buyer wants to sell their home property and buy a new one, but the old one still has pending mortgage payments, this loan can be use to finish those payments. This takes away the burden of having to pay loan plus interest on the old mortgage. When the property is sold the bridge loan can be repaid, which removes the need to spend money on it. All that the borrower now has to do is repay the loan and interest amount on the new home’s mortgage.

5 Ways To Reduce an Accountant’s Cost

There can be many factors which will sway your decision-making process when looking for a local accountant and from word-of-mouth recommendations to internet searches, finding the right one to suit you can often be a slightly bewildering task.

Best advice is not to consider cheaper as being necessarily better and if you have plans to save money then make sure you do your homework first before you get into any binding contracts.

5 Accountant Cost-Factors to Remember

1. VAT policy – it’s always good practice to research an accountant’s value added tax policy and to see whether it suits your own tax status. Smaller and individual firms are more likely not to be VAT-registered and these can be a better option for someone who’s looking for an accountant and aren’t registered for VAT either. Larger firms and other accountancy agents which are VAT-registered will be more inclined to suit customers who are also registered so it’s certainly worth bearing in mind when making your initial decisions based around tax.

2. Initial Consultations – as with most services, having an initial ‘getting to know you’ meeting is common practice and it would probably be quite naïve to think that all accountants are going to be the same. This sort of primary consultation will give you the chance to ask questions and find out more about your potential accountant’s credentials and expertise although you probably won’t find out too much more at these early stages. In most cases, a first meeting is free of charge however, if an accountant does want you to pay for his time, it’s always worth finding out what you are going to get in return.

3. Payment Terms – after you’ve had an initial-consultation, free or otherwise, it’s time to put pen to paper and get down to the business of saving you money. An accountant will charge for their services like any other service provider which is why it’s necessary to find out the terms under which payments will be made and taken. If it’s possible to organise a credit agreement, whereupon you can have some breathing space to pay a monthly or one off invoice, then make sure your accountant agrees prior to them doing any work. Remember that they’re supposed to be saving you money and alleviating financial strains so it should be in their, and your, best interests to make the payment process as painless as possible.

4. Payment Consistency – once you’ve ascertained whether you’ll be able to get a form of accountancy credit initiated it’s then probable that you’ll want to know the terms of regular invoicing. Find out whether payments can be paid via direct debit or whether you need to pay as a one off fee. There’s no point walking blindly into a financial situation and expecting invoices to be regular and consistently the same amount. Accountants often work with several different clients and although they’ll do their best to be consistent in their approach, some months may cost more than others so make sure you know how much and when invoices need to be met.

5. Incentives – as mentioned, accountants will normally have several customers to deal with at any one time. Best advice to ensure they certainly put your finances at the top of the pile is to undertake some sort of bonus or reward scheme. This can be met through prior agreement and work around your accountant receiving a cash reward when they’ve saved you, for example: above and beyond the savings that you’d hoped for. Make sure you get any bonus schemes in writing first so you and your accountant both know where you stand.