In today’s world, finances and financial security are two of the top things that allow people to live a hassle free life. Some people spend their entire lives earning money, as it is a vital pillar of everyday life. Because of these underlying reasons, it is not a surprise that a person should always be on top of their finances to insure themselves a better today and tomorrow.
Many people are going through a lot of difficulties with the credit crunch and the recession we are in and that has caused a lot of instability, financially speaking. People who have jobs are seeing their wages decrease and then they’re others who are looking for jobs. Moreover, some people try to rely on unemployment compensation but that is nowhere near full time job compensation trực tiếp bóng đá hôm nay . People have even begun to wonder if they would be able to retire early or even retire at all with the way the economy is rolling. All of this money that people are missing out on is affecting their finances tremendously. It’s causing a lot of strain in their pocketbooks.
With the current situation as it is, it’s no wonder that people want to be sure that are financially capable before they make a large purchase. One of the ways to perform this financial health check is in the form of a personal credit report. This report elaborates a person’s finances in a more detailed manner. It shows all the loans, payments, credit history, lines of credit, mortgages and any short term or long term collection cases against you. It’s a breakdown of how creditworthy and trustworthy you are. In today’s economic climate, banks and other loan agencies are paying close attention to your credit score. These firms want to know all about you before they approve any kind of loan.
With all this in mind, it’s very important that you know your credit score and how financially well off you really are. Moreover, there are many online tools and resources available where a person may check their credit score for free. All over the Internet companies are offering credit reports along with the scores with little to no cost at all. For many people this is good news! Its gives them a way to stay ahead of the game by consistently checking their scores and financial well being. With the number of people not earning anywhere close to what they were earning, a free option to check credit score online is a welcomed commodity.
Usually I spend my time talking, writing and teaching about sales related issues. Typically they center around topics such as motivation, sales techniques, goal setting, etc. Very often though, when I get to the question and answer part of my presentations, I am asked questions about credit. This is a topic that is near and dear to every sales person but because it is usually out of his or her control, it is not discussed as a part of most sales training courses. Even when it is, the training usually consists of selling the decline while trying to get the next deal from the vendor or broker. Because understanding credit issues is essential to success in this business I decided to do some research and write an article about an area of credit that is used frequently, especially in small ticket leasing, but is often misunderstood – the principal’s personal credit bureau and associated scores.
Why is the principal’s personal credit report so widely used in our business? Actually there are many reasons. They are inexpensive, usually two to four dollars per report depending on your volume. The information is rich – many consumer credit issuers report their results to the credit bureaus. They are available to any credit issuers, so a new company can have access to the same information as established lessors. The primary reason, though, is that they are predictive. For a variety of reasons the consumer credit report of the owner/partners/officer(s) of a business is one of the most reliable sources used to determine the likelihood that the lessor will have a positive experience with the lessee.
As I prepared for this article, one fact became clear to me – much of the information reviewed on the consumer credit bureau as well as the associated scores is commonly misunderstood and used incorrectly. Not only can this cause your company to decline an acceptable credit or approve someone with a high probability of defaulting but it can cause you to lose a vendor who gets his deals approved elsewhere or sever a relationship with a vendor who has too many defaults. I have found that some information that is commonly relied on is often incorrect. The scores are often misinterpreted or relied on too heavily. People also often override scores with information that is not only factored into the score but the people who developed the scores found that particular information not to be very predictive of the likely results. As the person responsible for the relationship, it is your job to make sure you know when to challenge the unwarranted decline and when to move onto the next deal when this one stinks.