Money $marts: Credit scores and debt

Credit scores and debt issues are plaguing consumers these days. For example, credit scores, with more restrictive lender guidelines and confusion over calculation, are resulting in fewer mortgage approvals and homeowners unable to take advantage of record low refinancing rates. Debt collection companies are illegally harassing consumers to repay debt, often when there is no legal obligation to do so.

Debt issues: If debt collection companies keep calling you, politely tell them to stop and if they don’t, a complaint will be filed. There are so many complaints filed these days that reporting harassment probably won’t help. But do not be intimidated by anything the caller says, even threats of legal action.

Unless you have co-signed, you are not responsible for the debts of relatives, deceased or living. Moreover, outstanding uncollected debt has a statute of limitations which once exceeded is no longer legally collectable. Do not ever make a payment — even partial — on any long outstanding debt even if it is yours. Such action can restart the clock on the time limitation. Non-payment of debt has already significantly hurt your credit standing. Even repaying the entire outstanding debt will not help improve your credit score. Make timely payments on everything else to gradually improve your credit score. After seven years, the owed debt is wiped off the credit report, improving your score.

Credit scores: Scores are not easy to manage owing to two factors beyond individual control. First, there’s more than one credit score. Most popular is the FICO score. But each of the three credit reporting agencies has their own formula for FICO-based scores.

Adding to the confusion, lenders are not consistent with the scores they use for accepting applications and assigning risk classification. A home mortgage company may use a different score than a credit card issuer or auto finance company. Second, lenders are not responsible for credit scores; they merely report data to the credit agencies which use it with their own scoring criteria and then report the results to the lending community. This leads to all sorts of problems for the consumer.

For example, one big factor in credit score calculations is the ratio of outstanding debt to the availability of credit; the higher the ratio, the “riskier” the borrower. Owing to the recession, however, lenders (especially credit card issuers) unilaterally closed inactive accounts and/or reduced lines of credit. This had the unfortunate result of increasing the debt ratio, making the borrower appear more risky. The credit score takes a hit (as much as 40 points) even though the borrower has an excellent payment history. New loan applications can be denied or done at higher risk pool rates of interest.

These days, even if you try to reduce your overall monthly debt payments in keeping with better budgeting and reduced personal risk, you can still get hit with credit score reductions. Mortgage modifications (changes in loan terms), for example, are reported as “partial payments” in accordance with credit data industry rules. In effect you are delinquent and your credit score will reflect this “fact.”

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Write to gerryk3001@yahoo.com.

Modern Auto Loans will encourage you to look for the best auto loan regardless of previous poor credit vehicle rating.

More small employers are seeking credit – and more are being turned away

Posted at 01:03 PM ET, 02/16/2012
More small employers are seeking credit – and more are being turned away
By J.D. Harrison

Substantially more small business owners sought credit from financial institutions last year than in the year prior, but the number that actually obtained it remained virtually unchanged, according to a new study. That means an increasing number of employers watched the doors to the credit market slam in their faces in 2011.

Despite increased demand, the number of small employers that obtained credit remained unchanged at roughly 1.6-1.7 billion, the same as previous years.
(Creative Commons licensed photo by Joelk75 )
Nevertheless, owners say that problem still pales in comparison to the ones created by economic uncertainty and persistently weak sales.

More than half (57 percent) of small business owners attempted to obtain credit in 2011, up from 48 percent in 2010, according to the National Federation of Independent Business’s annual small business credit report released Thursday. Meanwhile, demand for credit lines and cards increased by a third during the year.

However, the percentage of small employers that secured all or most of the credit they were seeking sank from 60 percent in 2010 to 50 percent in 2011, and as a result, despite the significant increase in demand, the number of small business owners that secured credit remained unchanged at roughly 1.6 billion to 1.7 billion.

“The many fruitless attempts by policymakers to understand and improve the credit market for small businesses are due to the fact that they have thus far failed to adequately address the root causes of the economic crisis — lost confidence and uncertainty, and the housing crisis,” William J. Dennis, NFIB senior research fellow, said in a statement.

Emphasizing the latter point, Dennis pointed out that 92 percent of the small employers surveyed own some form of real estate and 19 percent are currently using mortgage proceeds to finance their businesses. As a result, he said, stubbornly low real estate prices and the weak housing market continue to “drag on the small business economy” and prevent employers from pouring more capital into their companies.

But while credit trouble may represent a serious hurdle for some small business owners, sales and uncertainty present far greater and more frequent problems. One out of three employers surveyed said political and economic uncertainty is the most important finance issue facing their firm, while 23 percent pointed to weak sales. Only 15 percent listed credit problems as their top concern.

Among the other findings in the report:

? A disconnect exists between the credit market perceptions of lenders and small business owners, as lenders think credit standards have not changed or have eased over the year, while business owners think they have tightened.

? Small business owners are turning away from small banks, as almost half of them now consider one of the largest 18 banks in the country their primary financial institution. Only 20 percent primarily work with a local or community bank, marking a sharp decline over the past three years.

? Poorer credit risks were more likely to try to borrow in 2011 than better credit risks, other factors equal. Men and owners of larger small businesses were also more likely than their counterparts to try to borrow.

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By J.D. Harrison
 | 
01:03 PM ET, 02/16/2012

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small business,
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Automotive instructor wins top award

BUTTE VALLEY Brad Dressen, a Butte College automotive instructor, was honored recently with a national award recognizing him as college automotive Instructor of the Year.

I was really surprised when they called me, Dressen said in a phone interview. I was just amazed.

He and his wife, Denise, went to Charlotte, NC, to receive the award at a ceremony.

The award was presented by the National Automotive Technicians Education Foundation, which evaluates and accredits automotive programs at high schools and colleges.

His receiving the award was based on test scores and community service, Dressen said.

The tests he took are the ones given to automotive technicians who want to be certified. (They are rarely called mechanics anymore.)

These are the eight Automotive Service Excellence (ASE) tests, which cover engine repair, automatic transmission/transaxle, manual drivetrain and axles, suspension and steering, brakes, electrical and electronic systems, heating and air conditioning, engine performance and advanced engine performance.

Dressen said his community service mostly has consisted of giving safe-driving instructions to teenagers and other drivers at Thunderhill Raceway Park near Willows. One of Dressens hobbies is auto racing.

Dressen is one of four full-time instructors in the Butte College Automotive Program. There are also three part-time instructors.

Dressen said the program graduates about 24 students a year. Its intense, he
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LACTC acknowledging theme ‘CTE: Careers through education’

The Lake Area Career and Technology Center and Lake Region State College will take a tag team approach to celebrating Career and Technical Education Week this week.
February is Career and Technical Education Month. This years theme is CTE: Careers Through Education. The Lake Area Career and Technology Center (LACTC) along with neighboring Lake Region State College (LRSC) will be celebrating CTE week from Monday, February 13 through Friday, February 17.
LRSC and LACTC programs will be highlighted throughout the week. Minnewaukan and Devils Lake High School students will have the opportunity to not only visit with CTE teachers but also participate in daily prize drawings.
Students from Devils Lake Central Middle School will tour the LACTC and get a preview of career opportunities from nine different program areas. As a kickoff to the event Minnewaukan students have already toured the Lake Area Career and Technology Center.
Career and Technical Education is of great value to all area students. The Association for Career and Technical Education (ACTE) recognizes CTE for its ability to equip students with core academic skills (the ability to apply those skills to concrete situations in order to function in the workplace and in routine daily activities), employability skills (such as critical thinking and responsibility) and job-specific, technical skills related to a specific career pathway.
Career and Technical Education provides equal opportunities for students regardless of their gender. Title IX has been in existence for 40 years, and yet students continue to enroll in traditional programs. Automotive technicians and welders, for example, are typically male. Both jobs pay well and both are in high demand, and yet both continue to be classified as non-traditional for women in the workforce). The opposite applies for men in the fields of nursing and early childhood education.
As part of CTE Week, Wednesday February 15 will be Class Switch Day. Students will have the opportunity to work in an area/program that is not part of their normal class schedule. Teachers have planned hands-on activities designed to give students a look at careers that they may, in the past, have not considered.
The faculty and staff at the LACTC encourage students to open their eyes to opportunity and it is their hope that Switch Day may do just that.
Coming Tuesday, Child and family services program by Mallory Vose.

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Technicians Service Training to hold ’9th Big Event,’ sponsored by Motor Age

Technicians Service Training (TST) will hold its 9th Big Event on March 24, 2012, from 8 am to 6 pm at the Ramada Conference Center in Fishkill, NY

The 9th Big Event, sponsored by Motor
Age, will feature seminars covering
Toyota Hybrid Case Studies, P0420
Diagnostics, and Ignition Waveform
Diagnostics, with a keynote address by
Pete Meier, technical editor of Motor
Age.

In 2011, Motor
Age formed a content
partnership with TST to produce four
technical webinars. Aimed at automotive
technicians, each webinar is 60 minutes
in length and presented in a live and
interactive video format through Motor
Ages web portal, SearchAutoParts.com.
Four more joint webinars with TST are
planned in 2012.

We are excited to continue our
partnership with TST through their
training event in March, and ongoing
webinars throughout the year, said Jim
Savas, vice president, Advanstar
Automotive Group. Both of our
organizations share the mission of
raising the level of technicians
education so they can properly service
todays vehicles.

G Jerry Truglia, founder and
president of TST, said, It is widely
known that Advanstars goal is to
contribute to automotive education -
whether online, in print or in person.
We are pleased with Motor
Ages
partnership with TST, because it
greatly expands the opportunity for
technicians to receive top-quality
training.

For more information and to register
for the 9th Big Event, visit www.motorage.com/BIGEVE
NT.

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Precision Tune Auto Care Centers Adopting Web-Based Epicor Integrated Service …

LIVERMORE, Calif. Epicor Software Corp. has announced that Precision Tune Auto Care will offer its franchisees the opportunity to use the web-based Epicor Integrated Service Estimator (ISE) solution to help optimize front-counter efficiency, sales and customer satisfaction.

Based in Leesburg, Va., the Precision Tune network services an estimated 2.5 million vehicles annually through its 350 locations in six countries. Each Precision Tune location employs ASE-certified automotive technicians and offers a range of automotive services, from brake, A/C and cooling system maintenance to tune-ups and complete engine replacement.

Epicor says integration of the web-based ISE solution into the network#x2019;s SoftWrench operating system will enable Precision Tune franchisees to significantly reduce the time required to complete comprehensive, accurate, professional estimates. The software quickly provides users with all of the parts and labor information needed to complete virtually any automotive repair, and allows them to check on part availability and pricing from multiple local sources without picking up the telephone, Epicor says.

#x201C;Our enhanced SoftWrench system is a competitive differentiator in today#x2019;s automotive service market, enabling Precision Tune franchisees to provide a higher level of efficiency and professionalism at the front counter,#x201D; said Precision Tune President and CEO Robert Falconi. #x201C;The integration of the Epicor ISE solution provides impressive new tools that will help users better serve the customer and ultimately drive sales and revenue over a full range of service categories.#x201D;

Epicor notes that the Integrated Service Estimator solution is unique in that it provides the service adviser a more complete, accurate and relevant list of parts, as well as part availability, pricing, labor and other information, based specifically on the repairs being performed. In addition to being tied to the Epicor PartExpert database of more than 7,500 manufacturer product lines covering 385 million vehicle applications, ISE provides users the Epicor aftermarket flat-rate labor guide, repair jobs database and parts interchange. All parts, labor and supplier pricing information can then be imported to the user#x2019;s estimates, work orders and invoices with a single click of the mouse.

#x201C;The ISE solution helps speed the entire repair process, from the moment the customer walks in the door to the completion of the job,#x201D; said Paul Salsgiver, executive vice president and general manager of retail software for Epicor. #x201C;The service writer can complete estimates much faster and without errors, which leads to increased bay efficiency and increased customer satisfaction and loyalty. The system is exceptionally user-friendly, and its web-based architecture makes it an easy add-on to virtually any existing shop management system.#x201D;

For additional information regarding the Epicor Integrated Service Estimator solution, contact your shop management software provider or call Epicor at (800) 380-9015 or automotive.marketing@epicor.com.

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Boardwalk Porsche is honored to have earned the Porsche Premier Dealer Award …

Dallas, TX (PRWEB) February 16, 2012

The Porsche Premier Dealer Program identifies the top 25 Porsche Dealers in North America. It recognizes and rewards those Porsche Dealerships that best embrace the ‘Porsche Business Model’ – achieving the highest performance among their peers in Brand utilization, product representation and the development of key Porsche business drivers and in doing so, exceed the expectations of their Porsche customers.

A commitment to excellence and performance above industry standards is expected at Porsche as a baseline for conducting business. The Porsche Premier Dealer program is dedicated to rewarding authorized Porsche dealers who routinely go above and beyond these demands in their devotion to both the Porsche brand and their valued customers. A Premier Dealer is a champion of the brand who ‘lives and breathes’ Porsche.

Recognition as a Porsche Premier Dealer bestows the pride and prestige of being named one of the most highly regarded Porsche dealerships in North America. “The Porsche Premier Dealer Award distinguishes Boardwalk Porsche as a dealership whose personnel excel at putting Porsche ideals into practice,” said Mike Marsh, General Manager.

Brian Ongaro – Vice President of Sales and Marketing for Boardwalk Auto Group said, We are extremely honored that Boardwalk Porsche received the prestigious Porsche Premier Dealer Award for 2012, and want to thank all of our valued Boardwalk Porsche team members for making this award a reality.”

About Boardwalk Porsche

DealerRater recently named Boardwalk Porsche 2012 Porsche Dealer of the Year for the State of Texas based on consumer reviews. Staffed with the finest sales professionals and automotive technicians in the business, Boardwalk Porsche translates Porsche’s legendary track proficiency into an extraordinary customer experience. As a member of Boardwalk Auto Group, Boardwalk Porsche cultivates a focus on top-flight performance serving Dallas, Fort Worth and Plano, Texas.

About Boardwalk Auto Group

Boardwalk Auto Group is one of the premier auto groups in the nation representing Porsche, Audi, Ferrari, Lamborghini, Maserati and Volkswagen. Learn more about Boardwalk Auto Group at http://www.BoardwalkAutoGroup.com.

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Read the full story at http://www.prweb.com/releases/boardwalkporsche/2012porschepremiertexas/prweb9201835.htm

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DISPATCHES: St. Michael School Board Member is Proof of Tech Center’s Value

In his State of the Union Address last month, President Barack Obama talked about ways education and training can pave the way to not only an economic recovery, but a strong economic future.

#13;

Training, he said, can ensure Americans are there to fill American jobs that are going let unfilled, something that is baffling when the country has an unemployment rate above 8 percent.

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One of the ways the United States can start down that road, according to local officials, is through support of places like the Wright Technical Center.

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St. Michael-Albertville School Board member and longtime nurse Jeanne Holland is living proof.

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Holland, a mother and grandmother today, was a student at Wright Tech during her junior and senior years in high school. It started her on the path of nursing, with a program she took while still completing courses here at St. Michael-Albertville High.

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“It gave me a chance to experience it before I made a commitment. I didn’t have to say, ‘This is my major,’ and then invest money into it. I was able to try it out, and it clicked for me right away,” Holland said.

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For nearly 40 years now, Wright Tech has offered those opportunities. Programs have come and gone, but there are constants, including nursing, welding and even automotive repair.

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“This was never designed to be traditional high school,” said Julie Warner, the technical center’s director, who was at one time a teacher and then curriculum director since she was hired in 1990. “People can try different careers here. They can find a path. Maybe a third go on into what they originally studied. Maybe another third find a different program here, and that’s what they do for the rest of their life. For the rest, perhaps it’s not for them, and they find their niche in a traditional college or technical school after graduation. But, really, this is a great place for kids who maybe don’t excel in a standard classroom, but know that they’ve got a passion for something and want to pursue it.”

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Holland’s nursing program has been broadened into “health sciences,” instructing in areas like medical assistant and transcription.

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Other new programs embrace technology. Automotive technicians have to know computers well, and those involved in the building and trades use mathematics, geometry and trigonometry on a consistent basis, said board member Jim Lindberg of Monticello.

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“With cars worth more than my first house, you want someone who’s pretty bright to be doing the work,” Lindberg said.

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Students are getting training for careers that are literally growing faster than people can fill them.

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“There was a bridge contract recently awarded in California to a Chinese company, because they could fill it, and we couldn’t,” said Gary Butkowski, director of the welding program. “We’re going to be short hundreds of thousands of welders when the Boomers retire.”

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One of the main battles, Holland said, is perception. Students and even parents can sometimes give Wright Tech students a bad time.

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“Parents are going to have a mindset that they know what’s best for their kids. A lot of things out there tell you that has to be a four-year college. And maybe it is the best for many of them. But I’m looking at the jobs that are out there, and the money kids can make with training from a place like this is really good.

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And, Holland added, one former administrator has seen that first hand.

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Marcia [Ziegler, former Superintendent of St. Michael schools] often kids her other children that her son who went to technical school is going to make better money, because he’s a welder. Her other two kids are in law school and medical school and are going to come out with all of these loans. So she gets a kick out of that, she said with a laugh.

#13;

Holland said she’s passionate about the center, because of what it’s done for her and because she has seen what it has done for other students.

#13;

“I just look at the talent here. All of the teachers have job experience in their field. It’s pretty incredible. I think we watch every tax dollar so closely now, but I have no problem investing in a place like this.”

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The Credit Report with Bill Lewis: Week of February 6th

Interesting guests and timely topics will be on AM 740 WSBR the week of February 6th and The Credit Report with Bill Lewis.

After seven plus years on AM talk radio in South Florida, Bill Lewis will discuss his long anticipated move from morning drive time on AM 1470 WWNN to AM 740 WSBR.

Former prosecutor and Fort Lauderdale criminal defense attorney Jim Lewis will appear and discuss his candidacy for Broward State Attorney as the only Republican for this countywide office in 2012.

Chairman Richard DeNapoli of the Broward Republican Party will appear and discuss initiatives to expand candidate awareness through social media outlets like Facebook, Twitter, and YouTube.

Former presidential appointee and elections attorney Gineen Bresso will appear and discuss her future political plans and aspirations. As a former Commissioner and Chair of the US Election Assistance Commission, an important announcement will be made by Bresso on Monday.

Former Plantation Councilman and current Republican Party of Broward County Executive Director Rico Petrocelli will appear and discuss initiatives to expand party membership.

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Prova Systems™ Launches New Fleet Genius™ Fleet Manager in a Box Affiliate …

Carbondale PA (PRWEB) January 31, 2012

Prova Systems, a leading developer of free-wireless vehicle fleet management systems, announces the launch of its Fleet Genius Affiliate Program.The new program provides affiliates with a 10% referral commission on all products sold through Prova Systems Fleet Genius on-line store. Fleet Genius and Fleet Manager in a Box are designed for SME fleets and SOHO fleets and also support consumer vehicles. Fleet Geniuss free-wireless operation guarantees the lowest operating costs of any fleet management system available.

Anyone in an associated vehicle management and maintenance industry can become a Fleet Genius Affiliate and make money online, starting today from referral sales to businesses and consumers. Affiliate registration is simple and free and only takes a couple of minutes. The Fleet Genius program provides each affiliate with choices of banners and linking options that can be added to a website or sent via email. The Fleet Genius affiliate program provides real-time tracking right from the affiliate control panel, allowing the affiliate to see exactly how many referrals he or she has at any given time.

Affiliates will enjoy unlimited earning potential. In addition, Prova’s Fleet Genius provides phone and email support to all Fleet Genius customers to make sure that every person using the Fleet Genius Fleet Manager in a Box fleet management product has the help and support needed to implement a successful fleet management system. Affiliates cannot earn a commission on self-referrals or on resold accounts, for those that are interested in reselling the Fleet Genius Fleet Manager in a Box please check out our information on becoming a value added reseller.

“We created this program to support potential partners who were interested in generating income from a strong referral program but who didn’t have the capacity or the interest to be a Prova Systems Valued Added Reseller (VAR) Partner. The program opens up an exciting partnership alternative for companies in fields related to vehicle fleet maintenance, automotove repair and fleet management to earn a referral for each customer of theirs that acquires the Fleet Genius system,” remarked John Collins, President of Prova Systems.

Potential partners may also be interested in Provas Value Added Reseller Program which offers a greater revenue opportunity for a higher level of commitment from a Prova partner. Prova also offers an Integration Partner program which offers application development partners the ability to integrate Provas Fleet Genius hardware into a their own fleet management applications and offers the VAR opportunity alongside.

The Fleet Genius affiliate program is available today and partners can be approved within 72 hours.

ABOUT PROVA SYSTEMS: Prova Systems designs and manufactures wireless vehicle diagnostics systems for use in fleet management, drive-by emissions testing, secure access controls, usage based insurance programs and other critical commercial applications. Prova’s line of wireless OBD-2 vehicle monitors, wireless sensors and analysis products capture real-time operational diagnostics for use in its own products and 3rd party products. The company focuses on OEM and aftermarket technologies which make consumer and commercial vehicles safer, more fuel efficient and greener. The company is based in Carbondale, PA and sells its products directly and through resellers in the USA and internationally. http://www.provasys.com

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Read the full story at http://www.prweb.com/releases/2012/1/prweb9157144.htm

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