Money is transacted 3 times but credit only once. Get your credit ready to work for you!
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734.744.8690
Wednesday, May 31, 2017
Tuesday, May 30, 2017
Does ‘good’ debt still exist?
Having experienced the Great Recession earlier this decade, we’re all familiar with the dangers of over-extended consumers maxed out on debt with little savings to speak of.
The consequences of those actions are so great, many financial experts started rethinking if there is such thing as "good" debt anymore. But the conventional wisdom remains: if managed properly and prudently, debt – for the right things -- can still add to your bottom line.
What is good debt? As opposed to credit cards with high interest rates that can be easily abused, good debt can provide long-term financial benefits. Traditionally, the two most common forms of debt that could be considered good are loans for school and buying a home.
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#WE FIX CREDIT!
Thursday, May 25, 2017
Thursday, May 18, 2017
Wednesday, May 17, 2017
Welcome our newest member of the 700 Club - Our process is simple;
1. Sign up with www.creditchecktotal.com, it's $1
2. Call our office with your username and password, 1.800.442.1591
3. Get your Free Consultation
4. Pay your Application Fee
5. Start seeing results within 14 business days - Gaining Financial Stability with Intelligence and Integrity! We are One of the BEST in the business!
1. Sign up with www.creditchecktotal.com, it's $1
2. Call our office with your username and password, 1.800.442.1591
3. Get your Free Consultation
4. Pay your Application Fee
5. Start seeing results within 14 business days - Gaining Financial Stability with Intelligence and Integrity! We are One of the BEST in the business!
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#luxurylifestyle #lowerinterestrates #A1Credit
#visa #americanexpress #discover #mastercard #credit #equifax #experian#transunion #creditscore #fico #creditcard #newhouse #debtmanagement#detroitrevival #newcar #detroitsmallbusiness #detroit #budget #budgeting#crediteducation #bankruptcy #SayNoToBankruptcy #SatifiedClient
#luxurylifestyle #lowerinterestrates #A1Credit
#visa #americanexpress #discover #mastercard #credit #equifax #experian#transunion #creditscore #fico #creditcard #newhouse #debtmanagement#detroitrevival #newcar #detroitsmallbusiness #detroit #budget #budgeting#crediteducation #bankruptcy #SayNoToBankruptcy #SatifiedClient
Friday, May 12, 2017
Thursday, May 11, 2017
14 Times When You Should Not Use Your Credit Card...
1) After midnight
2) When your near your credit limit
3) When considering an extended warranty at the car dealership
4) If you're pay off one credit card with another, and its a habit
5) At a flea market
6) If you think your building your credit history
7) If you cant pay for half the purchases with cash on hand
8) When its all about the rewards points
9) When you think prices may drop
10)To buy something from a website with a obscure foreign extension
11) If you dont have a plan for paying it off
12) If you're charging things that you used to pay cash for
13) When you feel that you'll save money by purchasing something you want rather than need
14) When the temptation for a big impulse buy strikes
June Special
Banco Financial Services
June is the month of
Love & New Beginnings
During the month of June
Pay service in full
&
Get 50% off Credit Restoration
or
Buy 1 trade line ~ Get one free
Call us now!
734.744.8690
Monday, May 8, 2017
Small Business Health Care Tax Credit and the SHOP Marketplace
How will the credit make a difference for you?
For tax years 2010 through 2013, the maximum credit is 35 percent of premiums paid for small business employers and 25 percent of premiums paid for small tax-exempt employers such as charities.
For tax years beginning in 2014 or later, there are changes to the credit:
- The maximum credit increases to 50 percent of premiums paid for small business employers and 35 percent of premiums paid for small tax-exempt employers.
- To be eligible for the credit, a small employer must pay premiums on behalf of employees enrolled in a qualified health plan offered through a Small Business Health Options Program (SHOP) Marketplace or qualify for an exception to this requirement.
- The credit is available to eligible employers for two consecutive taxable years.
If you pay $50,000 a year toward employees’ health care premiums — and if you qualify for a 15 percent credit, you save... $7,500. If you save $7,500 a year from tax year 2010 through 2013, that’s total savings of $30,000. If, in 2014, you qualify for a slightly larger credit, say 20 percent, your savings go from $7,500 a year to $10,000 a year.
Even if you are a small business employer who did not owe tax during the year, you can carry the credit back or forward to other tax years. Also, since the amount of the health insurance premium payments is more than the total credit, eligible small businesses can still claim a business expense deduction for the premiums in excess of the credit. That’s both a credit and a deduction for employee premium payments.
There is good news for small tax-exempt employers too. The credit is refundable, so even if you have no taxable income, you may be eligible to receive the credit as a refund so long as it does not exceed your income tax withholding and Medicare tax liability. Refund payments issued to small tax-exempt employers claiming the refundable portion of credit are subject to sequestration. Find out more information on sequestration. Note that the Congressional Budget Office estimates that asequestration for fiscal year 2016 will not be required.
If you can benefit from the credit this year but forgot to claim it on your tax return, there’s still time to file an amended return. Refund limitations may apply. Generally, a claim for refund must be filed within 3 years from the time the return was filed or 2 years from the time the tax was paid, whichever of such periods expires the later, or if no return was filed by the taxpayer, within 2 years from the time the tax was paid.
About Checking Your Credit Report
When you apply for a new credit card, loan or extension of credit, the potential lender will most likely check your credit report before making a decision. You should too. Check your credit report several weeks or even months prior to making a large credit purchase.
- View your credit accounts and total debt — both existing balances and available limits.
- Budget and plan for the future.
- Ensure the accuracy of the information reported about your credit. This is especially important when you’re getting ready to buy an expensive item such as a car or a new home.
Correcting Errors on Your Credit Report
Federal law allows consumers to challenge inaccuracies and correct their credit files, and Experian® encourages consumers to dispute any information they believe is incorrect. There is no fee. If you believe there is an error on your report, dispute it online for fast resolution. We will verify your dispute with the source of the data and receive a response within 30 days. Once we receive the response, Experian will send you the results of our investigation.
You Have 30 Or More Official Credit Scores
Why does this matter to you?
In my work in credit repair, I see a lot of credit reports. On reports pulled the same day, I’ve seen credit scores vary by as much as 100 points across various scoring models. Before applying for a loan, many consumers pull a quick, free credit report online. Only when they are turned down for that special zero-percent financing rate or a mortgage do they learn that their lender was using an entirely different model — one that showed their score as 100 points lower.
It’s not that the higher score they saw was necessarily wrong — it’s just that a different algorithm was used in calculating that score. A potential lender may look at one score or three, and they may pull from different models for the same loan. The only score that matters is the one your lender is using. Put yourself in the best negotiating position possible by researching your various credit scores ahead of time, and understand which model your lender is most likely to use.
Wednesday, May 3, 2017
WHO CHECKS YOUR CREDIT AND WHY
You probably know that anyone you want to borrow money from is going to check your credit- this includes mortgage lenders, credit card issuers and car dealerships. Creditors use your credit score to determine whether to lend you money and if so, what interest rate you will get. The higher your credit score, the lower the interest rate you will qualify for and the less you will pay to borrow that money. It follows, of course, that the lower your credit score, the more interest you will pay, if you can even get a loan or a credit card at all.
But did you know that home insurers, landlords, cell phone companies and electric utilities may also use your credit score? It can be used to determine whether you can get insurance and at what cost, whether to rent you living space and at what price and whether to require a deposit when you establish cell phone or utility service.
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