Category: Business Credit

How Tax Liens & Judgment Liens Work

January 31, 2018 John Tucker

In Summer of 2017, new reporting standards from the National Consumer Assistance Plan were released in relation to both tax liens and judgment liens. In a nutshell, going forward, for either a tax or judgment lien to be reported on your personal credit report, the reporting must include all of the following: Your name Your address Your social security number Your date of birth Required courthouse visits every 90 days to make sure records are updated This new reporting feature… Read More

Why Does My Credit Card APR Keep Going Up?

January 30, 2018 Jason Steele

When you have to carry a balance on your small business credit card, the interest charges can be expensive. You can shop around for the lowest rates, but then your new card’s interest rate can still increase. What the heck is going on? How Credit Card Interest Rates Work Ten years ago, credit card issuers were able to advertise cards with “fixed” interest rates, and then increase the rates at their whim. But after the CARD Act of 2009, credit… Read More

What Small Businesses Need to Know About Cash Advances

January 29, 2018 Jason Steele

Most business owners use small business credit cards to make purchases. But what if you need to buy something that you can’t charge on your credit card? When cash flow is tight, you may be tempted to get a credit card cash advance. Though a credit card cash advance may feel similar to withdrawing money with an ATM card, there are many important, and potentially costly, differences. How Do Cash Advances Work? Most credit cards provide access to a line… Read More

Why You Should Wait 30 Days to Apply for a Loan

January 26, 2018 Eric Rosenberg

You ran through an analysis and decided it’s time to borrow to boost your business. You paid off your old credit card balances and took steps to shore up your credit score. You scrubbed through your financial statements to make sure they are accurate and professional. Is it time to apply for the loan? Probably not just yet. Follow along to learn why you should wait 30 days to apply for a loan. What happens when you apply for a… Read More

What You Need to Know About Filing for Bankruptcy

January 24, 2018 John Tucker

Sometimes filing bankruptcy may be your best option due to inefficient debt management or other legal bills that could have amassed. Sometimes, business owners, in particular, can do these things to avoid bankruptcy. There are five major types of bankruptcy in the United States, and for this article I will provide details of these filing options, along with the consequences of filing bankruptcy and other information to use at your disposal should you need to utilize the U.S. Bankruptcy Code.… Read More

How to Get a Handle On Your Credit Cards in 2018

January 17, 2018 Jason Steele

Were your credit cards a little out of control in 2017? With the new year comes a new opportunity to manage both your personal and small business credit cards a bit better. Doing so can save you both time and money, while offering you a chance to earn more rewards and enjoy more benefits. Here are five ways to get a handle on your credit cards in 2018: 1. Take an Inventory A lot of people have numerous personal and… Read More