What is Your Credit Report?

Credit Report Many of you know what a credit report is but do you know what it entails?  A credit report is a document containing almost all information relating to the financial and monetary affairs for a particular person.  It includes information about where you live, your modes and sources of bill payment, and your overall financial status. This information is gathered over a long period of time from various sources, specifically those that have extended you credit.

Credit report companies can then sell this information to lenders, employers, landlords, and other service providers to help them decide whether to approve a particular person’s application for a loan, credit card, insurance agencies, housing opportunity or job. Anyone with a permissible purpose can look up your credit report. This includes potential lenders, landlords or employer, even companies you’ve allowed to monitor your activity to avoid identity thefts. Government agencies can also look up a limited part of your credit report.

Now you can see that a credit report contains essential information that can affect key decisions about your financial matters, so it’s of even greater importance to make sure that these records are correct. Financial advisors and consumer advocates suggest that you review your credit report periodically to avoid any kind of inconvenience that may arise due to mistakes in your credit report.

But how many of us really do that? According to a consumer action study, 27 percent of Americans have never checked their credit. The number of US adult victims of identity fraud was 9.3 million in 2005 and 8.4 million in 2007. The mean fraud amount per fraud victim was $5,720 in 2007.

Recently a woman from Oregon won $18.6 million over credit report mistakes that she was trying to get rectified for two years. But how many of us can wait to get this lucky while facing several credit and loan refusals losses worth thousands of dollars?  The solution that will let you save yourself from all this trouble is checking your report periodically and taking help from experts so that your upcoming plans for a new house, business or even a car loan stay intact.  

Checking your report is easy. You can order a free report once a year. The copy of your report must contain all of the information in your file at the time of your request. You also have the right to know the name of anyone who received your credit report in the last year (for most purposes) or the last two years for employment purposes.

If any company denies your application on the basis of a credit report, they must supply the name and address of the credit bureau they received the information from. You have the right to receive a free copy of credit report within 60 days of receiving the denial notice based upon credit. 

After receiving your credit report, review it very carefully and consider getting help from expert agencies like Expert agencies have a keen eye for mistakes and shortcomings.  Look for any activity that might not look familiar to you. If you see any evidence of fraud, bring these to our attention immediately. Tell the credit reporting company and creditor or information provider in writing what information you think is inaccurate and dispute the item.  Also, if you see any unpaid bills you simply forgot about, act to take care of them right away. Resolve the debts and ask the businesses you owed money to send letters to credit reference agencies stating that the issues have been sorted out. 

All these are long and tedious procedures but getting these issues fixed cannot be second in priority to anything else.  Also, it’s not uncommon to miss out on details, causing you troubles in these huge reports.  This is where expert help comes in handy.  Expert agencies like us take care of all these steps, paying full attention to all the necessary details from finding out flaws to getting these rectified in the records.  We help you repair your credit report for a minimum fee and save you thousands of dollars in losses! 

Posted in: Business Credit, Business Start Up

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Why Your Business Needs a Mobile App

Mobile appCustomers are mobile, are you? 

Does your business have an app where your customers can find or buy your services? We can help by getting it built for you and spend thousands less than the typical cost. 

There impact of mobile devices such as smartphones and tablets has shaken up the way people now surf the net. In fact, more people use their mobile devices over computers and laptops to find the information, products and services that they want. Every day, more people are switching to mobile devices as their primary source for reaching the internet. This means that businesses must adapt or find themselves losing future customers. 

What are Mobile Apps?

Mobile apps or applications are something like bookmarks that mobile devices use as shortcuts to reach a wide variety of internet resources. There are simple mobile apps that help people reach websites, more complex apps that contain a great deal of information that can be updated and gaming apps that people use to play a wide variety of games on their phone. 

For small businesses, restaurants and retail stores, mobile apps have allowed millions of customers to reach their services quickly and easily. This means that customers can order carryout from their favorite eating establishments, pick out products from stores, set up hair appointments or contact businesses about their orders all from the convenience of a mobile app. 

Are Mobile Apps Affordable?

It was not long ago that mobile apps were expensive with only large companies or corporations taking the plunge. Today, mobile apps have become much more affordable, although some companies may still charge a pretty penny for them. The key is finding the app design companies that offer huge discounts in creating simple, yet powerful mobile apps that puts your business in contact with customers on the go. 

For any business that puts out a product, service or information, having a mobile app is a must to stay competitive in today’s world. But more importantly, to stay relevant for tomorrow business must adapt to the mobile devices that more customers are using. By getting a mobile app, your company can enjoy some tremendous benefits that only grow with time. 

The Advantages of Having a Mobile App

There are several advantages that having a mobile app will bring to your business. Plus, these advantages will only grow over time as more people turn to mobile devices.

  • Keeps in Touch with your Customers:  A mobile app is like a permanent billboard on a customer’s mobile device about your business. It acts as a constant reminder that your information, products or services is only a touch away. 
  • Interact: Because you are reaching more customers, you can now expand your business to react more to their needs. This can mean creating new items, offering different services or providing more incentives for your customers to purchase from you. 
  • Updating: You can update your apps to include new information, discounts, coupons and other tidbits to keep your customers in touch. 
  • Mobile apps are one of the most powerful means of getting customers to your front door. Take the next step by ordering a mobile app at a greatly discounted rate and bring in those customers that you otherwise are missing. 

Posted in: Business Relationships, Social Media

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How Alternative Lenders Are Saving Small Business in an Age of Stingy Banks

Lenders helping small business ownerWhether you are a small business owner looking to expand your company or you are an entrepreneur with the next great idea, the one thing you have in common is that you need capital in order to turn your business plan into reality. The problem for quite a few years now has been that sources for that kind of capital are limited. It’s not that there aren’t still millions upon millions of dollars being loaned. They just aren’t going to small business owners. Big banks are all about avoiding anything they view as a risk and thus have been stingy about giving resources to small businesses. Alternative lending, however, has come to the rescue for many.

Believe it or not, approval ratings for small business loans are higher with big banks than they have been in a while. That having been said, 17.6% still means that your odds are less than 1 in 5 of getting a major bank to fund your start up. And the problem isn’t just with billion dollar banks. Even smaller, localized banks aren’t giving money to small local businesses anymore, with business loan approvals dropping to just 48.7%.

Even credit unions, a notoriously good source for small business loans, are continuing to shy away from giving their capital to new businesses. Only 43.9% of small business loans are being approved now and, as with small banks, that number continues to fall from month to month. There’s really only one source that is consistently providing capital to small businesses and that is alternative lenders. 

67.3% of small business loans were approved by alternative lenders in the last month of 2013. That means that rather than having less than half a chance with a small bank or credit union, and hardly any chance at all with a large bank, alternative lenders are approving more than two thirds of small business loans. And the trend is on that percentage continuing to increase. 

In reality, alternative lending sources like are what is allowing small businesses to continue to compete in our modern economy. Without capital, startups have no way of getting their feet under them, and the best of ideas can fall by the wayside. If you are tired of hearing no from banks and credit unions, know that there is another sector you haven’t tried yet, and these alternative lenders are saying yes to ideas like yours every day. 

Posted in: Business Credit, Business Start Up

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