Credit Counseling Companies

Recently a friend told me that he took his wife and went to a credit counseling corp in Texas. They had a few hour meeting to see if they could be helped to get their credit in order.

This couple if in their thirties and they have some kids. The husband recently graduated from school and has taken a job that pays rather well for recent graduates. Still with 4 kids money will be very tight. They borrowed a bit more than they should have in school on student loans and credit cards.

Now the find themselves unable to get a home and needing some help. They don’t know hot to budget and were drowning in debt. So the credit counseling corp said they could help. From what I know the credit counseling corp [Read more...]

How to get Business Credit

I am the Corporate Business Manager for a rapidly growing new business. We have gone from zero to 2 million in engineering work overnight. Awesome!

You say awesome? It is. Most new companies are trying to find work. We have work we need employees. We need cell phones, we need computers, we need credit cards and more. We need cash flow. The money doesn’t come in until the work is done.

In order to make it all work we need credit. We need some credit cards, possibly a line of credit. We need a decent credit score so we can get cell phones and computers.

How do we build the credit of a new business? Everyone asks for a social security card number of the owners. The owners aren’t all happy about this. They say use the Taxpayer Identification Number (TIN). Sounds easy. It isn’t.

So I am going to be building the credit worthiness of our business. You can follow along and learn how to make a business work and get the credit you need for your business. [Read more...]

When to not use a credit card

Credit Cards of course can be necessary.  There are times that the use of credit cards can be bad.

When Credit Cards Are Bad:

  • Constant temptation to OVERSPEND.
  • Nonessential items purchased.
  • Impulsive spending increases.
  • Payments are late or only partially made Facing bankruptcy.