Mistakes On Your Credit Report: How To Dispute Them?
Question: My credit reporting company has made a mistake on my credit report, and due to that mistake, suddenly I am not able to get the student loan from the bank which had agreed in principle till now. This student loan is much needed for my MBA program this year (at an ivy league b-school). As you probably know, this year banks seem to be using every opportunity to deny loans. Please help!
Answer: You can surely dispute mistakes on your credit report. Under the Federal Credit Reporting Act (FCRA), both the consumer reporting company and the information provider (that is, the person, company, or organization that provides information about you to a consumer reporting company) are responsible for correcting inaccurate or incomplete information in your report. To take advantage of all your rights under this law, contact the consumer reporting company and the information provider.
Step One
Tell the consumer credit reporting company, in writing, what information you think is inaccurate. Include copies (NOT originals) of documents that support your position. In addition to providing your complete name and address, your letter should clearly identify each item in your report you dispute, state the facts and explain why you dispute the information, and request for its removal or correction. You can enclose a copy of your report with the items in question circled. Send your letter by certified mail, “return receipt requested,” so you can document what the consumer reporting company received. Keep copies of your dispute letter and enclosures.
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How to get Small Business Financing?
Filed under: Banking, Business, Employment, Money & Finance
Question: Can you please help me with any information regarding small business financing? I am trying to buy a franchise with a friend and my husband. We have a 4 year old bankruptcy and are looking for less than $75,000 to open. The problem is there are no tangible assets in the type of service business we are are planning to open. Are there any suggestions of lenders that may be willing to loan or a direction that we should go toward? Any suggestions are greatly appreciated. I am based in Michigan, USA. Thanks.
Answer: Since your question is specific in terms of investment needed and the kind of business you are getting into, here’s a source that may be able to point you in the right direction. And if you do decide to open this or any other business, they can provide useful info on how to do so.
Service Corps of Retired Executives (SCORE): A national organization sponsored by the Small Business Administration (SBA) of over 13,000 volunteer business executives who provide free counseling, workshops and seminars to prospective and existing small business people. There are 389 chapters nationwide. For more information, call them at 1-800-634-0245 or visit their web site at: http://www.score.org
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How to get a Finance job?
Question: I am a Finance graduate with bachelors degree in Finance. What kind of jobs can I get and what are my chances to get a job soon? I can work in different countries, including New York, London, and Mumbai.
Answer: These are difficult times to get new jobs in finance area because so many experienced people are jobless, and there is a lot of supply compared to less demand.
Finance is a vast field. Please identify what topics/areas within finance interest you the most, and try to approach companies as a motivated and competent person, who is willing to work at a low salary. That’s your best chance if you want employment.
You can also try for Banking jobs, especially in the Risk Management divisions, which I believe are still having budgets to increase their activity.
If you want to be in investments, then you should try to make 1-2 profitable investments, and show their proof to potential employers. Let the numbers speak. Follow the financial markets like you would do when you are actually working for a company or for clients. And that practice will help you to convert good opportunities when they arise.
Reference: AlphaNeuron.com
Online Safety Advice: How to Recognize Phishing Emails?
Beware of phishing email scams, which typically come as emails that claim that they are from a company that you most likely do business with, such as your Bank, PayPal or eBay. They will tell you that you need to go to the site, and sign in for some security reason.
If you click the link in that email, you are taken to a site that appears to be the site that you do business with, but it isn’t. These people are trying to gain access to your account info with this email and fake website. Following are some three common signs: Read more
How To Get Out Of Credit Card Debt?
Question: My family is facing great difficulty in our finances as we have lost jobs. Can you please suggest some ways for how to get out of Credit Card Debt?
Answer: This is a becoming a difficult situation with all the easy credit that credit card companied loaded into consumers. Here are some suggestions:
- One of the things that come to mind whenever someone mentions that they are having some financial concerns is the fact that they probably have an overwhelming amount of credit card debt.
- Finding out how to get out of credit card debt is not as hard as it may seem but many people seem to panic as soon as they are unable to stay afloat and end up doing the worst things possible in trying to help themselves.
- Most people fall into the traps of credit cards innocently enough and the majority of people start out thinking that it is only a few hundred here and a few hundred there and then they are in over their heads before they know it.
- Understanding how to get out of credit card debt is first done by taking a look at where one really stands with their situation. A lot of people end up losing sight of what they really owe because they end up ignoring the problem until it grows so out of control that they are forced to find a way to get out of credit card debt.
- While it may seem like a scary and never ending situation, it is important to know that it is not the worst thing that can happen and there is always a solution. Just what that solution is based on your particular situation and how deep in debt you really are.
Citibank Execs want private corporate jet now?
Citibank Execs want private corporate jet worth $50 million.
This sounds outrageous. On Monday over 40,000 jobs were lost in the US. People are losing jobs and fighting for survival, and these banking execs are worrying about ‘upgrading’ their already lavish corporate perks.
A large part of the current problem is due to the banks refusing to make credit available to small businesses and individuals. The bailouts are not working and, quite frankly, are being diverted to propping up balance sheets, executive compensation, and perks (like Jets) rather than increasing credit availability.
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