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Improving Your Credit Rating
Strategies for building, repairing, or improving one's credit score which enables the consumer to negotiate better interest rates on loans.
500 Questions
A sample consists of n equals 16 scores How many of the scores are used to calculate the range?
Asked by Wiki User
8
Who pays off all of Pip's debts?
Asked by Wiki User
Magwitch, the convict who Pip helped in the past, is revealed to be the one who pays off all of Pip's debts in the novel "Great Expectations" by Charles Dickens. This act of kindness showcases Magwitch's gratitude towards Pip and his desire to make amends for past wrongdoings.
Will your US credit history be available in Canada?
Asked by Wiki User
No,you will have a fresh start if you relocate to Canada.
What is EPOS and its advantages?
Asked by Wiki User
A electronic point-of-sale (EPOS) system is essential for any restaurant business. It can help you to streamline operations, improve customer service, and track your finances.
Key benefits of using an EPOS system in your restaurant:
Increased efficiency: An restaurant epos system can help you to streamline your overall restaurant operations. For example, the system can automatically calculate taxes and discounts and send orders directly to the kitchen, reducing manual errors.
Improved customer service: You can improve your customer service and satisfaction with an EPOS system as makes it easier to take orders, process payments, and track customer preferences.
Enhanced reporting capabilities: An EPOS system can provide detailed reports on your sales, profits, and customer behaviour. This information can help you to make better business decisions.
Contact Foodhub for business for restaurant epos system
But with so many different EPOS systems on the market, how do you choose the right one for your business?
Some factors to consider when choosing an EPOS system for your restaurant:
Your restaurant’s size and type: If you have a small, casual restaurant, you may need additional features like promotions, etc. If you have a large, multi-unit restaurant or a fine dining establishment, you’ll need a system that can handle more complex operations.
Your budget: EPOS systems can range in price from a few hundred dollars to several thousand dollars. Setting a budget before you start shopping is essential so you don’t overspend.
Features: What features are important to you in an EPOS system? Do you need a system to manage staff and drivers or integrate with your online ordering platform? Make a list of the features you need and use it to narrow down your choices.
Ease of use: Your EPOS system should be effortless for you and your staff. If the system isn’t simple enough, it will only slow you down and frustrate your employees.
Customer support: When something goes wrong with your EPOS system, you need to be able to get help quickly. Make sure the EPOS system you choose offers good customer support.
Once you’ve considered these factors, you can narrow down your choices and choose the right EPOS system for your restaurant business.
Does transferring a debt to another collection agency exend the time it appears on credit report?
Asked by Wiki User
Transferring a debt to another collection agency does not extend the time it appears on your credit report. The time a debt stays on your credit report is determined by the date of the original delinquency, and this date doesn't change when a debt is sold or transferred to a different collection agency.
Here's a clearer picture:
Seven-Year Rule: Generally, a debt can stay on your credit report for up to seven years from the date of the first missed payment that led to the account's delinquency. This is a guideline set by the Fair Credit Reporting Act (FCRA).
Date of Original Delinquency: This is the date from which the seven-year period is calculated. Even if the debt is sold or transferred to another collection agency, this original delinquency date remains the same and doesn't reset.
Collection Accounts: If a debt goes into collections, the seven-year period applies to the collection account as well. The collection account will fall off your credit report seven years from the date of your first missed payment on the original account.
Multiple Collection Agencies: If the debt is passed between multiple collection agencies, it might appear multiple times on your credit report. However, it should still be removed seven years from the original delinquency date, regardless of how many times it's been sold.
Credit Report Accuracy: It's important to regularly review your credit reports for accuracy. If a debt is re-aged (incorrectly updating the date of delinquency) or if a collection account stays on your report longer than seven years, you have the right to dispute it with the credit bureaus.
Remember, while transferring the debt doesn’t extend the time it stays on your credit report, it can restart the statute of limitations for how long the debt is legally enforceable, which varies by state. This is a different timeframe that determines how long a creditor or collector can take legal action to collect the debt. It's important to distinguish between the two.
If you’re interested in more information on managing debt and understanding credit reports, my video
“7 Proven Strategies to Eliminate Financial Anxiety” might be helpful.
It covers strategies for tackling debt and improving your financial situation, which can have a positive impact on your credit health.
How many different types of legal wills exist?
Asked by Wiki User
A simple will is a document that outlines how assets will be distributed. A testamentary trust will creates trusts for particular beneficiaries. A living will deals with healthcare decisions in the event of incapacity. A joint will is a will created by two people, usually spouses, who share a single document. A holographic will is a will that is written and signed by the person making the will, usually without witnesses. The type of will you need depends on your circumstances and preferences.
What is the TOEFL top score?
Asked by Wiki User
The TOEFL iBT scores range from 0 to 120. The four sections (reading, listening, speaking and writing) are each given scores on a scale from 0 to 30. These subscores are then added together for the total score.
The TOEFL scores on the Paper-based (PBT) test range from 310 to 677. The listening comprehension and structure/written expression sections are both scored on a range of 31 to 68. The reading comprehension section is score on a range of 31 to 67. The raw scores for each section are then converted to the TOEFL test scale range of 310 to 677.
Objectives of pe?
Asked by Wiki User
physical development
social development
mental development
spiritual development
emotional development
How much money does a veterinarian make on Animal Planet?
Asked by Wiki User
This is calculated as ACT (average client transaction); most clinics strive for this to be above $115. However, this is an average - some pets only need $50 worth of veterinary care in one visit (3 year old dog for a distemper vaccine and yearly exam, for instance) while other pets may need several hundred dollars worth of veterinary care in a visit (10 year old diabetic Yorkie being prepared for bladder stone surgery, for instance).
How much do you need to retire?
Asked by Wiki User
Before you can answer that, you need to know how much income you will need in retirement, (and for how many years). So, figure out a retirement "budget" first.
Then you look at all your guaranteed income sources (pension, social security, other) and deduct their total from the budget amount you figured you'd need.
Last, you take what is left after deducting the other income streams from your target budget amount, and divide it by 4.5%. The answer to that calculation is how much cash you will have needed to accumulate by retirement.
What was price of loaf of bread in Houston Texas in January 1958?
Asked by Vrich
the cost of a gallon of milk in 1928 was 56 cents
Does paying off collection accounts help your cred?
Asked by Wiki User
- Why payoff collections when you have a bona-fide chance in getting the collection deleted by disputing it with the bureaus that are reporting it, as per "The Fair Credit Reporting Act". The original creditor already wrote it off as a loss on their taxes anyway and in most cases sold the debt to a collection agency for 15 to 20 percent.
- Last resort is to settle on the debt. Make sure you write a restrictive endorsement on the front of the check:"By cashing this check Payee agrees to accept this check in full payment of the account as agreed and agrees to remove all derogatory information from Remitter's Credit Reports."
- Now you have a canceled photo of your check in your bank statement as proof incase the bureaus don't adjust your report accordingly. Also make sure to mention your account number in the memo section.
- I agree with Bob in the next answer--since I am a mortgage loan officer--I would be recommending the same. Pay the collection at the closing of the purchase/refinance of the home--not right before. Your scores will not improve for a good 2 months or more as you just gave a bad account a newer date. I like to call it "new history". Now if you are just cleaning up your credit and not applying for any type of loan for at least 2 months, then by all means -- pay the amt due or settle on an amount. Either way get it in writing and keep your originals--for a LONG TIME. Send copies when sending the payoff/settlement. Act as a "collector" would, and call consistently when you are waiting for confirmation via fax with the original being mailed to you until you get it. Make sure you have names and extensions when you try to re-reach the person you talked to as you will more than likely end up talking to someone else.
- The reason for this is because, among other factors used to determine a credit score, the "date last active" will change on these collection accounts once they have been paid. It simply means the date the account (regardless of type) had any activity on it, whether it be a credit, debit, transfer, etc. Pretty straight-forward.
- So let me try to explain: Let's say you have a collection from a long-forgotten medical bill (probably the most common collection), with a last active date of 08/99, with a $500 balance. Because this is such an old, inactive collection, it's effect on your credit score has been greatly diluted by more recently active credit (such as your current mortgage, car loan, active credit cards, etc.), and is likely only lowering your score slightly. If you were to pay that collection off in an attempt to gain points, your efforts will have an opposite effect in the short-term. By paying off the collection, you will bring the last active date of the collection to the current month (now would be 10/03), and although it will now reflect a $0 balance, the fact that you have a recently active collection on your credit report is more derogatory than an old collection with a balance.
- My advice to you is, if you are applying for a mortgage or other large loan, do NOT pay off collections before hand! Usually, lenders will require these debts to be paid at CLOSING, and this is highly recommended.
- Now, after about 6 months, your scores will have recovered (depending on the number of collections you had to pay off), and in the long term, will be much higher than had you left the unpaid collections on your credit report. It's just the initial hit that hurts.
- I appreciate the above. But I want to emphasis it highlights that you *will* have to pay off the old debt anyway. Moreover, as noted that craziness in official scoring is true for maybe 6 months. And it is happening in what might be the more junior and mechanical part of the process of actually approving a loan... many more things will actually go into it.
- So, let's see, if I was a lender, now and 6 months (or even 5+ years)in the future, how trustworthy do you think I would comparatively rate these two, or desire them as customers:
1) He has not made payments on his previous promises. He still owes others money that he doesn't seem able to, or interested in, paying. He expects to pay me with his future wages. Other creditors want to get repaid, and will have a right to an amount that will continue to grow with fees and interest charges, so his past due balances are actually higher than he's telling me. I can require he pay off those old debts, but if he uses my money to pay those off, do I really want to be in the shoes of those he isn't paying now?
2) He seems to have had a tough period and missed payment obligations for some reason, (but that was XX ago / there is an explanation in credit file). Gotta' say s/he really wanted to stay responsible/honorable and worked through it, made good on his promise overall and paid them. He doesn't seem to owe others now, at least not more than he seems able to pay on what he's making....
- To be certain of how ill informed and absurd some of the above is...when saying that "The original creditor already wrote it off as a loss on their taxes anyway...", well maybe in a way. They wrote it off on their financial books too...they had reported an asset a receivable, (income they already reported and expected to receive), that wasn't real...they paid taxes on that income previously (when they originally made/recorded it)...both their books and tax accounting now get adjusted to show they won't receive it...the tax they get is tax BACK that they paid already on the income they aren't going to receive. You don't really think the IRS gives money back for something else do you?
- Can paid charges help your credit score. It can increase your credit score by paying off a charge off on your credit report.
UPDATE: In 2007, Fair Isaac agreed with debt collectors that a debtor should not be penalized for paying off old debt accounts. While it is true that renewed account activity could reset the date of last activity on a collection account, it does not change the date of last activity for the original debt. Furthermore, Fair Isaac claims that adjustments have been made in credit scoring that allow for a debtor to pay an old debt without any negative movement in their credit scores.
This settles a decades old argument that paying off an old liability demonstrates financial responsibility. What we do not know is whether the actual change to risk scoring models was made in 2007, or if it is part of the FICO 08 scoring update. Either way, by late 2008 debtors will not be penalized for paying off an old debt account. With this in mind debtors can pay off older accounts without fear of a negative credit score reaction. This is true for lump sum payoffs. Making a series of payments on an old debt is still not advisable. Still though, debtors should focus on newer debts, since older accounts may drop off their credit report before they get a chance to repay them.
Paying off a collection will update the account as more recent which will hurt your credit score, but it will also improve your debt to limit ratio which will increase your credit score. More importantly you can negotiate to remove the credit report listing upon final payment. You can also try to dispute the collection with the credit bureau and this becomes much easier once you have paid off the debt.
It is completely and utterly untrue that writing "this pays this debt in full" on a check is legally binding. Why wouldn't one do that on the first mortgage payment? I can write anything in the memo of a check, it means nothing. Please do not follow that advice. I worked for a bank for over a decade, this is a horrible myth.
How do you earn wizard101 training points?
Asked by Wiki User
Well i play wizard101 and i am lever 16 right now.I am Madison Blueheart. The only ones i know of are from Prospector Zeke were you find the smiths....birds....cats... stuff like that. There is one of those quests for each world.
If a person wanted to put free music on an ipod where would someone go for that type of use without having to use a credit card or any billing payments?
Asked by Wiki User
You could use Free YouTube to mp3 converter. All you need is Internet and it is free. It works for mp3 and iPod.
Is it against the law to use a fake credit card number to make purchases online?
Asked by Wiki User
Purchasing items online has become very popular in the world and people do it everyday. Using real credit card numbers is not a problem. However, some people use virtual numbers to shop safely.
What companies dominated the refrigerator and freezer industry in the late 90s and early 2000s?
Asked by Wiki User
Whirlpool Corp.; General Electric Co. (GE); Maytag Corp; Raytheon; and White Consolidated Industries Inc. (the U.S. subsidiary of Electrolux, which owned Frigidaire, Kelvinator, and other familiar brand names
How can you cancel your iTunes account?
Asked by Wiki User
1. Go through the steps to view your account information. 2. When the Apple account information page comes up, select the "edit credit card" button on the top right. 3. In the first box that lists the forms of payment, select the "None" radio button. Afterwards, select the "Done" button at the bottom of the page. 4. When the screen refreshes, it should read that "No Credit card on file."
Which department stores have cards easiest to obtain?
Asked by Wiki User
Let me give you some unsolicited advice. If you have bad credit, chances are that you are not so good at handling credit yet. Perhaps the best thing to do is to try to live within your financial means, until your credit heals. By then, you should be ready to get back into credit, responsibly.
This would also help you financially since you wouldn't have to absorb the very high interest rates that would often accompany high risk credit.
What is the average price of a loaf of bread 2008?
Asked by Wiki User
The current average of a price of bread as of January 2009 is about $2.79.
What does prepaid mean?
Asked by Wiki User
A prepaid cell phone is one where the service is paid for in advance. When you run out of minutes and/or text messages, the phone simply stops working. Often, you can recharge them. They are useful if you want to give them to children and not have to worry about them running up a large bill.
Credit file monitoring service?
Asked by Wiki User
Credit monitoring is the automated process of keeping an eye on your credit. Credit monitoring helps protect you against identity theft and monitors any changes and/or inquiries made to your credit file by alerting you within approximately 24 hours of any major changes made to your credit file.
Credit repair literature for credit repatr companies?
Asked by Wiki User
Credit repair companies often utilize a variety of resources, including books and literature, to educate themselves on credit repair strategies and best practices. Some recommended books in this field include "The Credit Repair Kit for Dummies" by Steve Bucci and "Repair Your Credit Like the Pros: How credit attorneys and certified consultants legally delete bad credit and restore your good name" by Carolyn Warren. It is important for credit repair companies to stay informed about industry regulations and guidelines to best serve their clients.
Match each of the credit card terms?
Asked by Wiki User
Matching credit card terms is often found on a finance test. Common credit card terms include annual fee, credit line, grace period, and introductory rate.
What are the solutions to food shortages?
Asked by Gomo
stop drought and bad soil and get famers to help with donation
