Credit Repair In 3 Easy Steps

May 9th, 2008

Bad credit is not a permanent situation. If you have negative entries on your report, it’s not too late to start repairing your credit history today. There are steps you can take to remove bad credit from your report and rebuild your credit.

Dispute Negative Information

If you think that the information in your report is inaccurate, you may dispute it with the credit bureau in writing. You must include all documents to support your claim.

The credit bureau must investigate the matter with the creditor. The investigation must be carried out within the alloted time. If the disputed information is found to be inaccurate, it must be deleted from your file.

Negotiate With Creditors

If you have negative items on your report that are indeed true you could talk with the creditors and arrange to get the derogatory entries removed from your report. By negotiating with a creditor which has reported negative information to a credit bureau, you may be able to get them to erase this information.

Add Positive Information

You can add positive credit information to your file by depositing a certain amount of money with a financial institution to serve as collateral for a loan or credit card, opening a charge account at a department store or even having someone with a good credit record to cosign on your application for a small loan.

If you would like to get more information you can visit my website which contains credit repair information and ebooks that can help you repair your credit.

Conleth C Onu is the owner of http://www.aboutcreditrepairadvice.com A website packed with credit repair articles, tips, and resources.

Who is Your Perfect Client

May 8th, 2008

When I started my coaching practice I believed that I could coach anyone. My marketing wasn’t targeted. Taking a few clients that were “wrong” for me cured me of that. I began to define my “perfect client” and then started to notice flags that told me that someone didn’t fit my definition.

Have you ever had a premonition that someone wouldn’t be a good client for you? Today the person I hired to paint my house dropped by to pick up his check. He asked me about a neighbor to whom he had given a quote. He said, “She seems like a nice lady but something is telling me she’ll be a problem.”

He went on to say that she wanted a guarantee that the paint wouldn’t peel. He said with all the plants around her house and her irrigation system he didn’t feel comfortable doing that. Although he would like the work and was confident in his ability to do a great job for her, he decided to pass on the job.

Bob has owned his own painting business for 25 years and really knows who his “perfect customer” is. He sees warning signs that tell him when the work will cost him more than he will make.

Large businesses often take all customers as long as they believe they have the ability to pay. They don’t use a screening method. I remember thinking while I was at AT&T that some customers were more of a headache than they were worth.

One customer I remember started her weekend early on Friday afternoon and came back to her office after lunch inebriated. In that condition everything annoyed her so she would start calling us for immediate service on her equipment or adjustments on her bill. She knew all the numbers to call (including the president of the company!). If she didn’t get attention she called the person’s boss. She sounded pretty normal on the phone so she was taken very seriously. She consistently drained resources.

Do you get an inkling that a prospective client will be a problem? What are the warning signs? I know for example that people who believe they know everything and never make a mistake are not good clients for me. I listen for that when I talk to potential clients.

Also if someone comes to me for a marriage issue, I know that is not my area of expertise. I could coach the person but because I don’t work in this area much it takes me longer to get up to speed on it. Better to refer that client to someone else and to find the lawyers and other professionals that I have a specific business development program for and experience in coaching. It is more profitable for me and more satisfying for my clients.

One exercise I do with my clients is to ask them to rate their current clients as A, B, C and D clients. They come up with their own criteria for A (the dream client), B (the dream client in training) C (the average client) and D (the client from hell). The goal is to find a way to have only A and B clients in their practice.

Can you see that getting rid of C and D clients would give you extra time to work with the clients you enjoy? By doing this you aren’t wasting precious time trying to please someone who needs lots of special attention.

Think too about the kind of referrals you will get from C and D clients. We attract people to us that are very much like us so C and D clients probably will refer C and D clients.

If you want to have a thriving practice with clients you enjoy working with the first step is to get very clear about your “perfect client”. What makes him/her perfect and then what tells you that the prospect sitting in front of you or the one on the phone is that perfect client?

Take Action

1. Read Attracting Perfect Customers by Stacey Hall and Jan Brogneiz

2. What are your criteria for A, B, C and D clients?

3. Classify your current and past clients as A, B, C and D clients. What did you learn from the exercise?

4. Can you create a script with several questions for your staff to use so that you don’t have to talk to any potential client that is clearly not an A or B client? Do you have a list of other attorneys, doctors, painters etc that they can refer the C and D clients to?

About Alvah Parker

Alvah Parker is a Business and Career Coach as well as publisher of Parker’s Points, an email tip list and Road to Success, an ezine. Parker’s Value Program© enables her clients to find their own way to work that is more fulfilling and profitable. Her clients are managers, business owners, sole practioners, attorneys and people in transition. Alvah is found on the web at http://www.asparker.com. She may also be reached at 781-598-0388.

Personal Bankruptcy Laws

May 7th, 2008

Individuals can file for personal bankruptcy as a last ditch effort when their credit reaches the limit. This helps them clear out a few debts by selling their assets and starting a whole new life without creditors beating at their door. The gives them an opportunity to start afresh without credit worries since creditors have no more right to press collection charges.

Presently, individuals can file for bankruptcy under Chapter 7 or Chapter 13. Chapter 7 involves liquidating all the assets to pay off the creditors. Chapter 13 involves registering a plan to pay of the creditors from the monthly wages of the debtor within a specified amount of time. However, new laws passed by the President in 2005 might make the options for filing the case under Chapter 7 a bit more narrow and might force most individuals to file a bankruptcy case under Chapter 13 instead.

Chapter 13 requires the individuals to provide proof of income, as the whole law is based on the individual’s steady income. If the debtor fails to pay the monthly credit amount, the case might be dismissed from the court and will require the individual to file for bankruptcy all over again.

When an individual files for bankruptcy, it does provide him with a fresh start, but the credit bureaus keep records of the bankruptcy details and this might affect the debtor’s credit rating for the next 10 years. However, some banks currently offer a new kind of credit card that requires some initial security payment that will help build up the credit rating so that things are almost normal by two to three years.

The new law also requires the individual to take up credit counseling at least six months before filing for bankruptcy, which means the individual has to go through a licensed lawyer to file the case.

Bankruptcy provides detailed information about bankruptcy, bankruptcy attorneys, bankruptcy faqs, and more. Bankruptcy is affiliated with New Bankruptcy Laws.