The Family Business is Currently Booming

My family has been in the merchandising business for twenty years. My parents own a small shop in our town. It is not as large as the other big name chains, but they are pretty successful. I worked in the store as a child. My parents gave me odd jobs around the store to earn my allowance. This position taught me the value of hard work and how to run a company. The store is old. My parents want to do things the old-fashioned way. I want them to use a instant online paystub generator and other technology. I want them to bring our store into the future.

My father is very stubborn. His is blinded by nostalgia. He prefers the old way of doing things. My father hates technology. He can’t even use a cellphone. He thinks the old way is the right way. He is a pack rat. He keeps old junk from the past that has no monetary value. Continue reading ‘The Family Business is Currently Booming’ »

Sorting out Uncle Liam’s Estate

I really did not want to do it, but I gave the man my word and now I have the task of sorting out my Uncle Liam’s estate. That is not a very easy or pleasant task, although the technical aspects are not all that complicated. Uncle Liam had a very good accountant in Dublin and all of the details of his assets and the taxes which are owed, that is quite to the point. There is not a lot of fuss with that part. I know how much money there is and the problem is with my cousins, who are quite predictably at one another’s throats over the money. There are four of them, two brothers and two sisters. None them really get along, but they are all trying to manipulate the others to their own advantage. Continue reading ‘Sorting out Uncle Liam’s Estate’ »

Accounting Firms Based in San Jose

My company has been wrapped up in a pretty bad scandal recently and it has caused some major changes to the way we do things. We have fired both of our accountants after they were found to be stealing from the company, and had been for some time. I am not sure how they managed to evade detection for so long, but it is truly troubling. That is why I want to look for a San Jose accounting firm as I no longer want to have the company’s accounting done on an in house basis. Rather, I think it would be a lot better to have it outsourced to an accounting firm that has a lot of experience.

Of course, we can’t have another scandal like this involving accounting, if we do not hire any more accountants. There is an off chance that a third party accounting firm could steal money, but I really don’t see that happening. For one, I am going to hire an accounting firm that has a good reputation. Continue reading ‘Accounting Firms Based in San Jose’ »

It’s Never Too Early to Plan for Retirement

When I got my first job that had real benefits, I knew that I needed to educate myself on the different retirement plans. I didn’t even really understand much about a Roth IRA, but I knew that I could go online and get the quick education that I needed. I was able to find a website that had a lot of really good information on it about individual retirement accounts, and it also explained the details of the two main kinds so I would be able to determine which one is best for me.

Even though I was only in my early 20s when I first looked at this site, I knew that I was not too young to think about retirement. If there is one thing I have learned from my parents and grandparents, it is that time is going to go a lot faster now that I am out in the real world. Continue reading ‘It’s Never Too Early to Plan for Retirement’ »

How To Recover From Bad Credit

Bad credit can make it difficult just to get by anymore. Aside from barring you from access to Credit cards, car loans, mortgages, etc., it can make it very difficult just to rent a house or an apartment.

It’s safe to say that in modern society you need good credit in order to thrive. However sometimes the unavoidable happens, we go through a rough patch in life, and we don’t have access to money that we desperately need. At times like this,  we might get a pay day, or short term loan. Although these carry very high interest rates, they can be useful to get you through a rough patch, rather than to  suffer the consequences of default.

But sometimes defaulting on your credit lines is unavoidable. It’s best to try and recover from this as quickly as possible.

The exception to this rule is if you defaulted on your credit lines more than say five years ago. Most states have a statute of limitations of seven years, although some states go as far as 10 years, on which debt can be collected. In cases like these, it might be better just to ride it out rather than repay your creditors.  Once seven years elapses on any debts  they automatically fall off your credit report.

So that brings us to the question, how do we recover from bad credit?  And unfortunately the answer is it too simple.23r2w3

Pull your credit report and see what is hurting your score. The best place I can recommend to pull your score from, is credit karma.

The reason that I recommend these guys, It’s because they’re free. There are a lot of other credits or providers that will claim to be free, but there is always hidden fees involved. The only one that I found with no hidden fees is credit karma.

Once you have your credit score, Go through and look for any type of defaults,  as these will hurt your score the most. Usually these creditors also don’t expect to collect anything on this debt.  From your credit report, you can get their phone number, and call them to attempt to make a settlement agreement.

Keep in mind, that there are two ways that that can be handled on your credit report after you settle. The first is, the financial institution you settled with will show the debt as set. This helps your score, but isn’t ideal, because it still shows that at one point you defaulted on your line of credit.

The better alternative is to try and get them to purge the record from your credit report entirely. There are two ways to do this. The first is called a pay for delete. You can send them a check and write pay for delete on it, if they cashed the check, they are obligated to delete the score from your credit report. I would advise against this method. The reason is simple, it does not work in most states. A lot of states that used to allow this, no longer do. So depending on where the check is cashed, you could have a real problem.

A better solution is to get the credit company to agree to a contract that stipulates that they will remove all records from your credit report once the settlement has been paid. This requires a little bit more effort as you have to go back and forth with the company by mail, but in the end it’s completely worth it.

In summation, having bad credit sucks. Recovering from it isn’t so hard though, it just takes time and persistence. Outlined above I listed methods for settling debt, and getting defaults completely purged from your credit history, making it look like you are a great candidate to lend money to.