Using Credit Partner

Sometimes you need partners to get deals done in this business. Travis and I talk to people almost daily that want to get involved with real estate but do not have the resources to do it, especially as lending gets tighter. Last year I wrote an article about using partners and how I see many partnerships created for the wrong reasons and of course how those partnerships end in disaster. Well this month I want to stress the importance of partnerships for the right reasons and HOW to do it. Specifically we are going to be talking about credit partners and if this is done incorrectly it could be considered illegal.

You have heard me say it ten thousand times, I am not an attorney and nothing in this article represents any kind of legal advice. I am simply sharing my experience and what my understanding of these arrangements.

Now that that's out of the way let's get to it. A credit partner will most often be needed and used for long term financing. In a good partnership every partner will add and receive value. A credit partner helps the partnership get the financing. A typical credit partner gets the loan and may provide some consulting to the partnership while the other partner(s) find and manage the deals. They would then split the profits however they see fit. Both parties in this arrangement participate and benefit. The credit partner helps get the deals done with the money and or financing while the other partner(s) provide the expertise, time, and labor.

As many of you know it is getting really hard to get financing. If you are self employed many lenders will turn you down even if you CAN document income, and no documentation loans are a thing of the past. You can make good money, have 800 credit scores, and plenty of cash in the bank and still get denied. Some of us need credit partners if we are going to continue to build a portfolio of properties.

There are right and wrong ways to create this partnership. Here are three good ways to do this:

1. LLC - As long as the partner does not need to show the full amount of the rent to qualify for additional loans an LLC is probably best. It is the cleanest and easiest for the accounting. It is probably also the safest for both parties.

2. Joint Venture (JV) - If the credit partner will need to show rental income to qualify for loans in the future it is best to have the property show up on their schedule E on their tax return. Schedule E is the rental property schedule. This is where it gets confusing. They will need to show the full amount of the rent and the full amount of the liabilities and will need to pay you your profit as a management fee or consulting fee which will also show up on the Schedule E. This will all need to be spelled out in a joint venture agreement.

3. Sublease or lease/option - Another clean way to do this is to have the credit partner rent to you and you sublease to the tenant. The lease agreement would spell out that you pay the mortgage and expenses first and the balance is split. Doing it this way will make the property show up on both tax returns. If you do it this way, be sure to talk to CPA about the depreciation of the property and who will be taking that benefit. You can add an option to your lease to spell out the terms when you both decide to sell the house.

Any of the ways will work as long as the credit partner is receiving a portion of the profits. What you don't want to do is have them finance the property and be out of the deal. The most common example of this is after they finance it they deed it to you and you pay them a fee. This is considered straw buying and is illegal. Never pay a fee to use someone else's credit! If they sign on the loan they need to be involved with the deal and be responsible for that loan. This is also a bad idea if you plan to do multiple deals with the same partner. The loan will be on the credit report and will affect the debt to income ratio making it harder for them to qualify for a loan in the future. If it is on their credit report they should show income on their tax return to offset the liability.

On a separate note, there were several investors in Denver paying to use people's credit. Some of them ended up getting into financial trouble and the houses went into foreclosure hurting the credit of the signer on the loan. Don't ever accept money to be someone else's straw buyer!!

Use partners and use them with caution. Partnerships are a great tool to help everyone involved build wealth but they must be done correctly.

For the last 8 years Kevin has been involved with real estate. His company, Pine Financial Group, Inc, is the premier hard money lender in Colorado. http://www.pinefinancialblog.com/

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Credit Card - Your Partner in Business?

As an entrepreneur, starting up a business or concocting one can be a very tricky business. One needs to study intensively the ups and downs of the business flow. And you have to think of a business proposition that you think will sell to the people. It is not merely putting your money to an idea of a business. Hard work is essential and the determination to succeed.

Many success stories have been make public and the usual belief that they share out to the potential business man is that making a business grow is grueling work. It was not a success overnight. It was work, work and more work.

Identifying your business opportunity and choosing what kind of business to start can be an immobilizing task when dealing with the multitude of opportunities. It's imperative to determine where your passions lie and to understand your traits and personality that will blend with the needs of the business.

Does your passion lie in improving the health of a person? Do you want to provide an extremely high level of assistance and advice to customers? These types of questions will be your guide as you go along the conceptualizing process.

After you had established the necessary steps on the concept on the small medium business that you want to put up with, you need a start up money to launch your business. This is the important part in the completion of your business. And your small medium business would not have run its course if you have no business partner your silent business partner, the partner that supports you financially.

For this reason, many business credit card banks have been promoted and introduced in the business market due to the fact that many business owners have the need for such assistance. You don't need to use your personal money to finance the many things needed in your business. The bank is ready and willing to be of service to that business man who knows how to run a business.

Office supplies, computers, faxes, chairs, table and the likes can be bought with the aid of your business credit card. The rent, your phone lines need to be ready before the opening of your business. These commodities are essential in your day to day dealings in your business establishment. Plus, when you purchase with your business credit card, you will earn rewards and bonuses as well. When you use your cash, no rewards and rebates will replace the cash that you just spent.

Whereas when you charge your purchases in your business credit cards, many new exciting cash back and discounts will be granted back to you. So, for your small medium business, get the best partner for you in the fruition of your dreams.

More info: [http://www.smbcreditcards.net]

Klye Anderson

Entrepreneur

PA, USA

[http://www.smbcreditcards.net]

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Finding Credit Partners

Whether you have lots of money or no money, if you truly want to build a real estate empire or build a business, eventually you are going to want to find business credit partners. A key point to keep in mind is that you need to find these partners before you actually need them. So, the question is, how do you find them?

Here are some strategies that may work for you:

· Put together a business plan. This plan will explain the nature of the business, what the funds will be used for, what each individual's responsibilities are and what the end plan for the business venture will be.

· Ask family and friends to be your partner. Before you can do this, however, you need to get someone in your family or a close friend with GREAT credit to add you as an "authorized user" or better a "secondary user" to their high-limit, long-history credit cards.  Explain to them that this will not affect their ratings at all. Even ask them to cut up the card in your name once they receive it. You'll be surprised at how many points this can increase your  score.

· Find local people to be your business credit partner. These people are going to want to meet you and see what you're about. Here again, this is why your business plan is so important.

· Use the local newspaper to advertise for partners.

· Once you have business credit for your own main business venture, you will want to acquire partners for your other business ventures and opportunities, such as investing in Real Estate.

For more information on Credit Partners, visit us at Unsecured Biz Credit.com [http://www.UnsecuredBizCredit.com] a web site that provides individuals and small businesses with information to build their credit.

Article Source: Ron Lerman, Business Credit

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Unsecured Business Loan for People With Bad Credit

However, recently, it was found that small business owners with good credit found it easier to get business loans from those traditional banks - funding to small businesses is a part of job growth. Unfortunately, on another note, those who have bad credit may find it hard to get the money they need during a financial crisis. So, what can a business owner do if they have bad credit and are in need of money?

Many are under the impression that they have to stick with traditional banks in order to get a loan. There are a variety of funding programs and solutions that help business owners get money, regardless of their credit. Instead of credit, other factors will be taken into consideration, such as credit card sales, bank deposit history and credit partners.

Here are some things that can help you get a business loan if you do not have good credit:

Credit Card Sales

In exchange for a portion of future credit card sales, some institutions are willing to lend money. If you have monthly credit card sales coming in on a regular basis, but you have bad personal credit, you may want to look into a merchant cash advance, but an unsecured business loan is always the best bet.

Bank Deposits

If you are a business and you make bank deposits on a regular basis, simply present this information to the lender. Typically, you should be able to obtain an unsecured business loan that is equal to 10 percent of your annual gross deposits, even if you are dealing with bad credit.

Credit Partner

Using business partners to help you get the loan may be a viable solution. If your business partner has a strong credit score, it is best if you use them. If you do not have a business partner, you may want to branch out and find a potential credit partner that is willing to help you out. Of course, with this method, there are some risks, because you will be co-signing with the business in order to obtain the money you need.

So there you have it, if you have bad credit, don't just sit there and watch your business fail. There are various things you can do in order to improve your chances of getting that unsecured business loan you need in order to keep your business up and running. Go ahead, search for a financial institution that is well known for lending money to people with bad credit.

Individuals who are looking for an unsecured business loan may be interested in Xpressbusinessloans.com. This company offers unsecured business loans with the opportunity to receive funding in as little as one day - light documentation must be presented to qualify - this includes a bank statement from the past 6 months and the most recent tax return documentation. The loan amounts are based on gross sales amount - you can get anywhere from 5k to 1 million.

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Unsecured Business Line of Credit

Many investors are unable to pursue foreclosure or preforeclosure deals for lack of money. There are many ways to quickly help a homeowner in trouble without spending your own money. You can use your credit cards, your personal line of credit or equity line of credit. By doing so you are increasing your debt to income ratio. Consequently, your credit score may suffer. You can bring a partner in the deal. Your partner will put up all the money and you can split the profit. In this case you're giving up a big part of your profit. Sometimes your partner may want half of the profit. There is a better way to help homeowners in foreclosure and still keep all the profit for yourself. The Business Unsecured Line of Credit is the secret weapon many investors are using to play the pre-foreclosure and the foreclosure game and make a truckload of money.

Some investors have built up to 7-figure unsecured business line of credit.

In the following lines I'm going to give you the steps you can apply and build your own 6 to 7-figure unsecured business line of credit.

First, what is an unsecured business line of credit?

It's a business line of credit that is NOT attached to your investment and is not reported on your credit unless you default.

The lending institution basically gives you a checkbook and trust that you'll use it wisely.

Here are 7 steps you want to follow to succeed in building your Business Line of credit.

Step 1. You need to have a business

Sole proprietorship won't do. You need a Corporation or an LLC, two years preferred. You must have your EIN number. Here is a tip. You can purchase a shell of a two years old business close to nothing. You're instantly ready to apply for your business line of credit.

Step 2. You need to register the business with Dun and Bradstreet.

Dun and Bradstreet is the titan of business credit profile. They control 70 percent of the market share for business credit reporting. Go to http://www.dnb.com and select their premium package. You can call the number on the website.

Step 3. Have a Paydex number.

Just like your personal credit score, your business has a credit score called Paydex score. It is between 0 to 100 (0 been the lowest).

Step 4. No bankruptcy allowed

Although you're applying for an unsecured business line of credit, the lending institutions look at your credit. They expect you to have a score of 680+. Here is the good news in case you have a bad credit. Add a credit partner in your business and apply through him.

Step 5. Apply for your credit line

You're now ready to fill out your applications. Many lending institutions will give you up to $50,000 line. Over that number you need to provide two years tax return and your mother-in-law as a bonus package. There are exceptions. I got approved by Wells Fargo for $100,000 just over the telephone. My advice is to apply for 5 line of credit within 30 days. Here are some names of lending institutions you can apply with: Wells Fargo, Bank of America, Suntrust, Wachovia, WAMU, Bank one.

Jacques Coquerel is a real estate investor based in Atlanta, Georgia. He has made more than 750 transactions since 1996. You may visit one of his sites [http://www.reonline101.com] and receive a 13-part FREE ecourse on real estate investing.

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Bad Credit Business Credit - How to Get It

Are you looking for a bad credit business credit lender, but you are dealing with the fact that yours is so bad and you are not sure if any lender is going to give you one. Well, you have come to the right place. I am going to show you three ways of getting it even if you have the worst one.

First, we are going to talk about getting a partner with good credit. Next, we are going to talk about getting a non PG loan. Finally, we are going talk about using lenders that offer bad credit business credit. After reading this article, you will be able to get it regardless of your credit.

Good Credit Partner: One of the best ways to get business credit if yours is bad is to partner with someone who has good credit. It could be your relative, friends or an acquaintance. If you are able to find someone with really good credit, you can get all the funds you want. All you would have to do is add him/her to your list of directors in your company or as your CFO. Before you partner with someone, make sure that you draw out your legal agreement so that you don't fall into any problems later.

Non PG Loans: A non PG loan are loans that do not require a personal guarantee before you can get business credit. It all means that your personal credit is not required to get a one. There are lots of companies that offer non PG loans despite the economic situation. A simple search in your search engine for "Non PG Loans" should give you lots of lenders offering such loans.

Bad Credit Business Credit Lenders: There are lenders that offer such but they are few. One of the drawback of such lenders is that they offer you credit at a very high interest rate. if you don't mind paying high interest rates and other charges that comes with it, then you should definitely use them. You can find them in your area by checking the local listing or online.

Arthur has been teaching small business owners and entrepreneurs the most effective methods to establish business credit using affordable tools without spending thousands. Visit Arthur site to learn more about business credit cards and lines of credit [http://www.bizcreditsecret.com]

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No Cash, No Credit, No Problem Investing in Real Estate?

When I was a student at Tulane University in New Orleans, a television commercial aired repeatedly for a furniture store. It was one of those commercials that you didn't want to have stuck in your head, but you did - it was catchy, yet annoying. The basic premise was that a person with essentially no money and no credit wanted to buy furniture, so they would ask a hyped up figure at the store if the customer could still buy their furniture and he would say, "Let 'em have it!" My wife and I still have the occasional laugh about the goofiness of that ad and the absurdity of its message.

I am often asked a similar question about investing in real estate. I have answered in many ways at seminars, in articles I have written, and in real estate courses that I have produced. Each time someone poses this question to me, I get a little bolder with my answer, so here is today's version.

Can you buy real estate with no cash and no credit? Yes.

Should you? Probably not.

Can you, with no cash and no credit, partner with someone who does have cash and/or credit to buy real estate? Yes.

Should you? Maybe. If you have no cash because you lack the discipline to live below your means and save money, then I am not sure you will have the discipline to invest in real estate.

If you have no credit because you've never established credit, but now want to start using it, I ask you... why are you starting now? If you've ruined your credit because you messed up dealing with money, then are you really financially responsible enough to start investing in real estate now?

So, while you CAN buy real estate without cash or credit - through, for example, owner financing, exotic and high risk lender financing, or with a partner - you need to look deep inside yourself and determine whether or not you SHOULD be buying real estate.

One thing I will say is that we tend to become more like the people we spend the most time with. So, if you do find a financially intelligent partner who is willing to have you find the deals and do the work on the property while they provide the cash and/or credit to purchase the house, make sure you pay attention and try to learn their good financial habits. Notice how they save money. Notice how they budget. Notice how they live compared to what they earn. Yes, you may invest in a house or two and learn about investing in real estate, but just as importantly, you may learn about how to manage and deal with money.

James Orr is a professional real estate investor, marketing expert and founder of the LearnToBeRich.com on-line investment game.

He works with a network of real estate agents, brokers and real estate investors across the United States through the AnalyzedDeals.com [http://AnalyzedDeals.com] website.

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Overcoming The 5 C's of Credit During a Recession

I met with a prospect last week that is in serious trouble. Due to increased competition and reduced demand, they have sustained significant losses over the past few years. They have a turn-around plan. They have a good team of employees. They have the inventory to sell. They have clients to sell to. There is only one thing they don't have, cash.

I would argue that running out of cash is the most common reason businesses fail, regardless of the size or industry of the company. Securing financing during this recession has become increasingly difficult. However, it is not impossible. In order to play the game, you need to understand the rules. The rules are the 5 C's of Credit (Collateral, Capacity, Capital, Conditions, and Character). If you are reading this article, chances are your business is struggling in one or more of these areas. Here are three techniques we use to overcome problems with The 5 C's of Credit.

Compelling Story

When you are looking for financing, a good story goes a long way (especially when you are trying to obtain financing for a less-than-perfect business). What has changed that is going to make the future better than the past? Who have you hired/fired? What have you learned? Although most financiers will not ignore the numbers entirely, a good story can make the difference when your business is a somewhat risky investment. When I say good story, I mean a story rooted in believable facts (e.g. solid projections, defendable assumptions, strong business plan). I have seen a good story make up for every one of The 5 Cs of Credit.

Partnering

When your business lacks Character, Collateral, or Capital, it may make sense to secure a strong financial partner. Financial partners come in many forms (private investor/lender, guarantor, etc.). Our clients have used friends, family, vendors, government, and even competitors to help secure financing. Make sure you consult with your trusted advisors before entering a financial partnering arrangement. I have seen businesses inadvertently given away due to cleverly drafted legal documents!

Acquisition

Buying a business? In this environment? Without cash? It may seem crazy at first, but think about it. If you are hurting, what do you think is happening to your competition? The trick is to identify situations where 1+1=3. For example, we have structured deals where our client paid nothing out of pocket, folded the competitor into their operation, and all of the equity stakeholders made more money (including the sellers). In this circumstance, a good portion of the income benefit came from the elimination of redundant overhead (e.g. now they only needed one phone system, one computer network, etc.) The end result was a much more viable, bankable company.

These are just some of the innovative ways we are getting financing deals done. Hopefully these ideas will help you secure the cash your business needs. Without cash, there is no business.

Ren Carlton is owner of Dynamic Advisory Solutions and Global CFOs which is a franchising company with the mission of expanding the Dynamic Advisory Solutions business model globally.

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The Bad Partner

Okay, not a bad partner, but a bad credit partner. This is a not-so-uncommon occurrence when two people decide they want to buy a house together and apply for a mortgage. Good cop, bad cop. Good credit, bad credit. What happens when one borrower's credit score is 500 and the other borrower's score is 800?

The borrowers might first hope that they use the highest score. Unfortunately, that won't happen. Maybe they hope they'll average them together, after all, that's how lenders use income when qualifying a borrower, right? That would give a score of 650. Not the highest of scores but still acceptable by mortgage lenders.

Again, no. Won't happen.

When there are two borrower's on a mortgage application, regardless of the disparity, the lender will use the lower of the two scores. For example, if the two scores are 800 and 750, the lender will use 750 as the qualifying score. Or if the scores were 740 and 625, the lender uses 625. In this example where one score is 800 and the lower score is 500, the lender will use 500. Way below acceptable credit scoring range. What to do?

The only option is to take the person with the bad credit score off of the mortgage application entirely. Leave them off. Don't use them. Lenders will accept this approach as long as the remaining borrower can qualify from an income and debt perspective on their own. If the wife is the breadwinner and she makes $10,000 as an attorney and the husband is a stay-at-home dad, then in all likelihood the loan will be approved as all income is coming from one person.

This approach will not work if the income needed from the borrower with low scores is needed in order to qualify. But if income is sufficient to qualify, then the deal can close.

To learn more about investing in Real Estate, including what to look for in homes, investing in the current economy, and other industry information visit http://propertydirectusa.com. For opportunities to invest visit http://buypd.com.

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Real Estate Loans - Even With Bad Credit

If you are looking to get started in real estate or business, it's quite possible that you will need a loan to get started. If you have bad credit, you might consider giving up before you've even gotten started. Well, I have good news for you. There are some things you can do to get that first loan while you work on improving your own credit rating for future projects.

One of the things you can do is to get a partner with good credit to join you in your real estate or business venture. This is called an "equity kicker" and is very popular in business. By doing this you use your partner's credit as your own for the project you're involved in. What does your partner get in return? In return for supplying the needed credit, you will give your partner a portion of ownership of the business. Depending on the size of your project and how strongly you need your partner's credit rating to get the needed loan, a reasonable percentage to offer will be in the range of 3% to 5%.

Understand that in most deals, you will be the working partner and your "good credit" partner will be the silent partner. He or she will supply the needed credit and nothing more to the deal. As an added incentive you can also offer your partner a small portion of the profit from the real estate or business project. Again, the amount should be in the range of 3% or 5%, depending on the profitability of your project.

While this is a great way to get started, it's important that you work on improving your own credit rating for future projects. Your goal should be to eventually be able to acquire real estate or business loans on your own without having to use a partner's credit.

The way you build your own credit rating is by paying your bills on time, getting a "secured" credit card and using it actively while paying it off fully each month of the year. By owning an asset such as a building or business, you immediately improve your FICO credit score. By paying off your credit cards each month, your score rises. All of these things will work together to get you a higher future credit rating.

For your real estate or business venture, form a company that will put you on the payroll. This will give you a source of income, a W-2 and an employment history. These things will raise your credit rating because you will have a traceable history. This is something that lenders love to cite when approving the loan that you've applied for at their company.

What other things can you do to improve your credit rating? Try joining respected real estate or business organizations. Not only will being a member contribute to your credibility, making you more credit worthy, but it will provide you with more knowledge about your business and help you to make important contacts within the industry. Remember, any dues you pay are provable and tax deductible.

So, don't give up your dreams of getting started in real estate or business just because you currently don't have the best credit. Try using a partner's credit to get started and then follow the steps above to improve your credit rating. Eventually you will be able to get business or real estate loans using your own good credit.

Michael Russell

Your Independent guide to Loans [http://loans-guides.com]

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Should Partners Who Guarantee Debt Receive Compensation For Exposure to Risk?

Here is a real situation that has a partnership of four up-in-arms:

Each partner owns 25% of the business. Three of the four partners have stellar credit and decent net worth. The fourth partner had a bankruptcy 4 years ago and does not have much net worth, other than the value of the business, to speak of.

The company has a customer present an opportunity to them to double their business in 12 months. The catch - they will need to buy over $1,000,000 of equipment to capitalize on the lucrative opportunity. Even though the credit markets are tough, this company is able to secure the financing it needs under one condition - the three partners with good credit have to guarantee the loans, but the fourth partner cannot.

The three partners have exposed themselves to more risk than the fourth. So, is the partnership still actually equal? Not in terms of risk.

In this scenario, the three partners are fine to expose themselves to this additional risk to give the company a chance to grow. They do wonder, however, if they should in some way receive compensation for taking on more risk than the fourth partner. If for some reason the company defaults on the loans, then the three who signed personal guarantees will have to resolve the issue eventually with the creditors. The fourth partner gets to walk away without these issues.

I have seen some interesting ways to handle this issue, and I would welcome additional feedback on how to best handle this. Any and all ideas are welcome.

One last thought - if anyone is considering taking on one or more partners in their business, this is an issue that should be considered and can even get in the way of financing your business. If your partner owns at least 20% of the company, some lending institutions will require that they run a credit check on them - and if their credit is bad, the lender will probably decline the loan!

ADDITIONAL COMMENTS

I received some great feedback on a social network for startup CFOs that I wanted to add.

Mark McLeod, part-time CFO, says:

Interesting situation, Ken. You could approach this a few ways:
1.) Risk adjusted return on the leverage the 3 partners are taking on: some additional premium either as a % of the loan or non equal distribution of profits from the incremental business

2.) Separating the legacy and new business on paper and again having unequal profit split on the new piece.

3.) Re-evaluating whether this 4th partner is necessary for the future of the business. Will he drag them down or can he be an equal and full contributor?

Peter Towle says:

Another option to explore IF the other partners want to keep the 'bad-credit' partner in as an equal profit participant (or try to keep it equitable) is to create a side agreement between the partners that encumbers the 'bad-credit' partners assets, future assets, or share of the business should there be a problem.
Great feedback so far...I'm open to more ideas, thoughts, and suggestions!

Ken Kaufman, Founder & CEO
CFOwise
CFO services

CFOwise is the premier CFO firm for start-up, emerging, and medium-sized companies

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Real Estate Equity Partners - Cash or Credit for PreConstruction Investment Deals

So you want to invest, and you are short on Cash or Credit NOT A PROBLEM...

Investing in PreConstruction Real Estate requires two main ingredients:

1. Ample Cash funds for reservation fees, down payments, closing costs and mortgage payments while marketing the property for the exit sale.

2. Ample Credit to qualify for a mortgage loan. (a minimum credit FICO score of 700 is required to participate)

Fortunately, one can still participate in PreConstruction Investment opportunities, even if they only possess Cash or Credit, but not both. No problem. One can partner-up to fulfill the missing piece of the success puzzle. Then once the profits are actually realized they are spilt up accordingly. This is a win-win proposition for both the novice and seasoned professional investor. This type of arrangement is quite logical for someone looking for above average returns on their investment dollars, leverage or limiting their risk exposure.

How does this work? For example, lets say a deal requires $20,000 in reservation fees, deposits, miscellaneous expenses and a loan. Investor #1 puts up $20,000 and investor #2 gets the mortgage loan using their credit. Then once the investment property is sold, the net profits are split according to the agreement made.

For those individuals seeking partners simply register with us using the form below. Perhaps we can assist.

Doug Lasley (Broker-Associate) BuyVacationCondos - LANDDepo 407-876-5771

info@BuyVacationCondos.com

http://www.buyvacationcondos.com

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How to Have Your Business Line of Credit Application Approved - The First Time

The best way to realize the American Dream of financial independence is, for many, to acquire capital for their business. Because lenders prefer to loan to businesses with established financial histories, loans through traditional lenders can be difficult for new businesses. In today's market, it grows ever more difficult to obtain loan approval for the business capital you require. Whenever you turn on the news lately, it seems like there is always at least 1-2 new banks that is asking for the government to take over control and bail them out. It is no wonder banks are reluctant to lend, with all of this market volatility.

It can be intimidating to go through the business loan application process. According to a recent study, over 80% of small business loan applications are declined due to packaging and presentation alone! The good news is that, even in these times of tight credit, business capital is still available. Borrowers with good credit can still get approved for unsecured signature business lines of credit up to $250,000. Financial, such as balance sheets, business tax returns, profit and loss statements, etc., may not be needed to obtain these lines if the borrower has good credit.

A loan with an interest only payment can be great for cash flow purposes. Roughly, your payment would calculate out to be $65 for every $10,000.00. Based on overall qualifications, the term can range from 1-5 years. Even when the original term ends, you will able to renew the loan yearly assuming you have made all your payments as required. Because the lender is in business to make money, keep in mind the lender only makes money if you keep borrowing as well as paying on time. A lender or a bank has no reason to terminate a relationship as long as you are a good paying customer.

These loans will not show up on your personal credit if structured properly! Proceeds can be used for expansion or to float the business during slow times. In order to ensure that your application is initially approved, you must follow some simple procedures.

The first thing to look at is your credit history and how good it is. And if it is not very good, then you need to figure out how to improve your credit history. The minimum Fico score that will be accepted is 680. Most lenders use the Experian or Transunion score and the higher the score the higher the approved loan amount.

At least 5 trade lines or creditors, called the "rule of 5", are included in credit guidelines. They must have been opened for a minimum of 5 years. You must own one or more credit cards with a credit limit which exceeds $10,000. You're all set if you meet these guidelines.

Regarding your credit, make sure that your employer information is correct. It is imperative that information regarding your employer, such as name and address, agree with the information contained within your bank loan application. Do this first, so as to avoid a lender's underwriter digging deeper into the credit file. In order to get a business loan your personal credit will be looked at. The more your credit is scrutinized, the more likely you will be denied for a loan.

You must be a business owner for a minimum of two years before you can complete the next step. It does not make a difference if the business entity is a sole-Proprietorship, Corporation, Limited Liability Company, etc. In order to satisfy the 2 year seasoning requirement, existing businesses can be purchased. If this is the method of choice, remember that ownership must be seasoned for ninety days before business lines of credit may be applied for.

As the business produces more profits, you will be allowed to attain more capital. As long as you remain a good paying customer, the limits are endless. Increases to your credit line can be requested every 6 months. Credit partners are also something you can use to your advantage. Almost every lender will require that you open some type of account with them. And they will expect this before they will approve your loan with them. This way they can set up automatic payment, which will be easier for the both of you. This indicates to the bank that you want to do business with them.

You will have access to more capital as you grow your relationship with each bank. Interest rates are based on what Wall Street Journal Prime rates are. There is always a few percent, usually anywhere from 1% to 3.5%, added to the Prime Rate.

Working with small business owners, Paul Chavez has spent 10 years helping owners like yourself obtain capital through unsecured loans. Try a no obligation, free consultation. Use our experience to your advantage and raise the business capital that you need. Come visit us at: http://www.candacapital.com/BLOC_20_Approval_20_Secrets_20_Revealed.html

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Obtaining Unsecured Business Credit Lines

It should come as no surprise to anyone that today's small business owner is facing many financial challenges. With the state of our current economy, it is becoming more and more difficult to obtain loans to either preserve or to grow a business. How many businesses have you seen today that have closed up or downsized because of the economy? So, what is a business to do to improve its financial health? Outside of a traditional loan, what is another source of funding for your business worth considering? Well, you may want to look into an unsecured business line of credit. An unsecured business credit line will allow you to have funds available without putting up your personal assets as collateral. These funds can be used for helping you stay afloat until the economy improves, or perhaps even grow your business.

For those who have never obtained an unsecured line of business credit before, let me explain. This is basically a loan for your business that you are able to obtain without having to personally guarantee it. The interest you pay may be higher than a normal interest rate. The question you'll need to ask yourself is, "will this line of credit, even with a higher interest rate, help my business and will I be able to make my payments on time". If the answer is yes, this may be the right financial tool for you. Sometimes unsecured business credit is difficult to obtain. Lenders require your business to have a great credit score. Don't give up. Do your research, there are ways to build your business credit score. Also, don't rely on just one bank. You may find that different banks have different criteria to obtain an unsecured business credit line.

Be sure to make all payments on time. The better your track record, the higher your business credit score will go. This higher credit score could translate into lower interest rates and/or higher credit limits in the future.

For more information on unsecured business credit, visit Unsecured Biz Credit.com [http://www.UnsecuredBizCredit.com], a web site that provides individuals and small businesses with information to build their credit.

Article Source: Ron Lerman, Business Credit Advisor

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Obtaining Cash Credit

Cash credit cards are valuable tools to most small businesses. Aside from the availability of the credit that they offer, businesses can also benefit from various rewards programs such as cash back rewards and travel miles. These cards also offer relatively high limits and business lines. Where can these cards be obtained? Some of the most common sources are Advanta, American Express, Discover, Capital One and Chase.

Why do businesses need to have multiple sources of cash credit available? Most small businesses fail within the first 3 years because they were underfunded from day one. Having a good business idea will get you into the marketplace. How long the business will be able to stay viable will, in large part, be dependent on its financial stability. Here is where having access to multiple sources of financing comes into play.

One of the other advantages that these cards offer is the ability to track the businesses spending. These accounts will categorize spending and enable the card holder to see clearly and simply where they are spending money. Additionally, this tracking will also be valuable when it comes time to file business taxes. Having the business expenses already organized when going to the accountant should save the business money by not having the accountant charge the business owner for the time needed to organize these expenses.

Finally, your personal credit and business credit need to be separated. Unsecured lines of credit do not show up on personal credit reports. By paying down personal debts, the borrower will make their personal credit scores higher. In the long run, this will enable the borrower to obtain more unsecured lines of credit.

For more information on Business Credit unsecured business credit and to receive you Free Credit Secrets Guide, visit Unsecured Biz Credit.com [http://www.UnsecuredBizCredit.com], a web site that provides individuals and small businesses with information to build their credit.

Article Source: Ron Lerman, Business Credit Advisor

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Will You Chose Love Over Money: Dating a Person With Bad Credit

Credit scores have become so popular and important in today's world that there is even a rise in a new phenomenon called credit dating. Some dating websites now allow members to view credit scores of potential dates. With so much stress on the importance of good credit and solid financial planning, love can sometimes be overshadowed by money matters. If you are dating a person with bad credit, it's essential that you understand how to handle your relationship and what this could mean for your future.

Be Up Front About Money

As couples first start to get to know each other, they discuss many issues. Often, money is something that doesn't come into the picture until after things have already gotten serious. One way to avoid having to decide whether to choose love or money is to find out right away if you are dating someone with bad credit. However, just because someone has bad credit doesn't necessarily mean it's time to run.

Since money is important to you, express this early in the dating relationship. Credit scores and dating are becoming more intertwined as widespread financial crisis continues. People are so concerned about their own financial future that credit management becomes part of every decision they make. If you continue to date for a long time or get married, chances are you will buy something together. Credit may play a big role in this. Talk to your partner about how important financial security is and why you are so set on saving money and making wise credit decisions. Find out how your partner feels about credit and try to understand why he or she feels this way. Don't just dismiss someone's credit problem as a character flaw.

How Bad Credit Might Affect a Relationship

Some people dismiss the idea that bad credit can play a negative role in a relationship. These people stress that love is always the most important factor; they say people are more apt to change their ways with money than they are to change their hearts. However, a credit score can have a big effect on dating that will cause stress and strain and leave the couple parting ways on bad terms.

If you are dating someone with bad credit, you may find that he or she asks you for loans. This can cause serious strain on a relationship, especially if the partner doesn't ever seem to pay you back. Similarly, a partner with bad credit may always insist that you pay for everything, or he or she might think that you feel you are the better person in the relationship because of your financial success. On the other hand, someone with bad credit may always insist on doing the cheapest things possible, creating a dating environment that you aren't comfortable with. There are many ways that a bad credit score can affect dating, and these factors can often lead to a sour relationship where one person always feels bad. A partner with sound financial history may even feel an obligation to stick with the other person out of guilt.

Bad credit could also be a sign that a person has other issues. You may notice that your partner is irresponsible in many ways. If he or she forgets to pay bills on time, it's important to ask yourself how this might translate to your relationship. Will he or she forget about important dates? Bad credit can sometimes be a reflection of a person's overall attitude, and this should be a warning sign that a financial turnaround isn't likely.

Helping Your Partner With Credit

Rather than ending a relationship because of bad credit, you may be able to use your position in that relationship to help the other person turn around his or her life. This can ultimately save your relationship and lead to financial success together. It's important when talking about money never to suggest that you are the better person. Rather, explain the importance of saving money and staying out of debt by stressing how it has helped you. Talk to your partner about how the debt or bad credit happened. Oftentimes it isn't entirely that person's fault. There may have been difficult family circumstances that led to the current financial crisis.

Instead of offering loans to help out your partner, assist him or her with creating a budget that will allow for debt relief. Work out the budget together and go over it each week. Explain that you are doing it because you want to make sure that you are compatible in the future. If he or she can't resolve the money problems, then explain that a long term commitment with you is not possible. Give your partner access to the financial resources you use, and recommend he or she speak with your own financial advisors. Make sure always to approach these conversations from a concerned and loving point of view. Never use the person's bad credit as a weapon in the relationship.

Monitor Your Credit Together

Don't flaunt your good credit, but show your partner the importance of credit reports. Explain how credit reports can be scary, and offer to sit down with him or her and a financial expert. This can make the other person more comfortable because it shows you also seek help in these matters. If you monitor your credit scores together, you can celebrate any positive change in your partner's score (just make sure that your celebrations are always financially responsible).

Credit is an essential factor in financial security and overall happiness today. While a bad credit score doesn't necessarily have to be a deal breaker, it can have a big effect on a dating relationship. It's important to discuss and resolve any credit differences early in the relationship. If you think that the other person just can't turn it around, then it may be time to break it off. After all, someday his or her credit will likely have an impact on your own.

Joy Mali is an active finance blogger who is fond of sharing interesting finance management tips to encourage people to manage their personal finances. More specifically, she advocates that people should check credit reports and scores regularly.

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A Prospective Partner: Skills and History

When two business owners form a partnership, each one brings strengths, skills, and enthusiasm to the table. It's important for the strengths and skills of one partner to complement those of the other so that the new partnership offers a broader range of skill sets. In some cases, one or both partners may have shaky credit history or even a criminal history - and those are guests many people wouldn't want at their table. Therefore, when examining a prospective partner's positives, it is important to check for negatives, as well.

Extensive research with women business owners about all aspects of business ownership reveals the importance of due diligence when selecting a business partner. Further, research shows there are seven main characteristics to consider in prospective partners. This article discusses the details of two of those characteristics.

Characteristic 3: Complementary Business Skills and Business Competence

The question: "What is each partner bringing to the partnership in terms of skills, knowledge, work experience and strengths?"

Most female entrepreneurs are not looking for clones of themselves in a partner; rather, they are looking for a partner whose skills and strengths fill in the gaps in their own. If this partnership is a new one, it's important that each partner demonstrates competency through personal and professional references, as well as through a demonstration of her work and abilities.

To gather more information about a prospective partner's competency, spend some time with him or her - whether it's apprenticing, working together on a small joint project or talking with his or her employees and customers. Don't just check out the surface; delve into their work as deeply as possible.

It is essential that a business owner checks out her prospective partner's work in person before launching a partnership. Impressive brochures and great chemistry may be alluring, but they may not make up for what a prospective partner lacks in experience or skills. Most female business owners have heard that past behavior is the best predictor of future behavior - and that is true in business, as well. While past accomplishments are not one hundred percent accurate when forecasting the future, past records of achievement are excellent clues.

Criteria 4: Solid Credit History and No Trouble with the Law

The question: "Do prospective partners' credit history and legal status live up to the way they present themselves as businesspeople?"

A female entrepreneur may have a prospective partner in mind, and may have great chemistry with her. The situation may look, "all systems go." Would that status change if the entrepreneur learned that the prospective partner had bad credit history, was late or delinquent on child support or alimony payments?

Depending on how much money is at stake in a partnership, prospective partners may decide to perform credit and criminal checks - after all, any financial pressure the partners experience will directly affect their business motivations and behavior. That same idea carries over into the new partnership; for example, if the newly-created business began to struggle financially, how would the partners react? How have they reacted in the past when under pressure?

Because each partner will be placing her livelihood in the other partner's hands, it is absolutely appropriate to ask for evidence that each partner can handle her own financial affairs. In longer-term and/or legal partnerships, one partner's decision-making can significantly impact the other's financial well-being.

According to the Fair Credit Reporting Act (the national law that governs the credit industry), joining with someone in a business partnership is considered a permissible reason to access his or her credit history information.

Begin with local credit bureaus, credit reporting agencies and the courthouse in the county where the prospective partner lives.

New partners often overlook or avoid these steps, viewing them as unnecessarily cautious steps that will slow down the process and introduce hostility into the relationship. However, these steps are critical, if not necessary, especially when the partners don't know each other very well.

When creating a partnership, it is essential for both business owners to understand all of the facets each partner brings to the table - from skills and competency to credit and criminal history. Each of these items directly affects the outcome of a business partnership.

Michele DeKinder-Smith, is the founder and CEO of Linkage Research, Inc, a marketing research firm with Fortune 500 clients such as Starbucks, Frito Lay, Tropicana, Texas Instruments, Hoover Vacuums and Verizon Wireless. She parlayed this entrepreneurial knowledge and experience into founding Jane Out of the Box, a company that provides female entrepreneurs like YOU with powerful resources, such as educational blogs, teleclasses, newsletters, and books. Michele was recently named to the National Association of Women Business Owners national board of directors for a two-year term. Buy a copy of her latest book with coauthor Azriela Jaffe, "See Jane Collaborate," which contains more in-depth information about this article's topic, at http://www.seejanecollaborate.com.

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How to Find Investor Partners and Private Lenders For Your Real Estate Investing

Whether you have lots of money and great credit starting out, or no money and lousy credit starting out, either way, if you truly want to make a serious bid at building a property empire then you cannot discount the importance of learning how to find investor partners and equally how to find private lenders to help fund your real estate investing. As you go along in your real estate investing career, as long as you pay attention and get educated about real estate investing, you will find that the skill you possess in spotting value and valuable money-making opportunities in real estate will far, Far, FAR surpass your ability to get all the money you need to do all these many deals you come across- UNLESS...

You learn how to find investor partners and find private lenders and get your money sources in place AS YOU GO ALONG and BEFORE YOU NEED THEM.

How to Find Investor Partners and Private Lenders

Creative investing techniques aside, sometimes you need real cold cash to do a deal. And sometimes it can be very frustrating not to have it to hand. For that reason, available financing money tends to be the biggest challenge for many real estate investors, new and experienced both. If you can't get the financing, sometimes there's just no deal.

John Wooden once said "Don't let what you can't do stop you from doing what you CAN do". Keep that in mind now as I lay out what you should do, if for example you do have little money or a poor credit situation. And if you don't then you'll still find more access to money than you might have ever though you needed (yet) when you apply these strategies.

Now, I speak from experience (big time!) when I say that lack of money and/or a negative credit situation can be one HECK of a hurdle to leap over but with enough tenacity and creativity and faith you will do it.

Before you get all disappointed that I'm not saying it's easy, I want you to consider a paradigm shift in your thinking. Today, I want you to see that it's not easy but it IS simple. I want you to consider that being credit challenged is not all a negative. I want you to believe that this "negative" situation can have a powerfully positive silver lining, and that's this:

"As long as I KNOW I'm going to make it happen (a deal, this business, whatever), whatever holds me back (poor credit and/or no money) is immaterial to accomplishing my goals. In fact, I am BLESSED to have this challenge (poor credit and/or no money) because since I KNOW I will succeed that means I will have successfully defeated this challenge and developed skills and attributes (patience, tenacity, faith, creativity) that will take me far FURTHER than someone for whom this (credit/money) was not a problem. Nor will I, when I have bested this challenge (poor credit and/or no money) ever take what I have gained (good credit, wealth, financial independence) for granted and lose it-- as some who never face challenges do."

Believe that and you cannot fail.

Now, as for the steps to help you right now getting your money sources in place to do even more real estate deals, let's talk about finding investor partners and private lenders for real estate investing.

Here are a few strategies many people can do immediately, and others as soon as is feasible with their time and money availability. If you do these concurrently, and CONSISTENTLY, in less than a few years you can have access to more money to do deals than you might imagine:

1) Go to the Courthouse and look up mortgage documents. Go regularly because you're researching. Creating the database that will get you paid. Ask around, these people (civil servants) can be extremely helpful if you are humble in your requests. Just don't expect to discuss real estate investing with them, they likely don't care. What are you looking for? You are looking for the mortgage lienholder. Take a tablet of paper with you and write down any (including mailing address) INDIVIDUAL (i.e. non- Wachovia, First Century Financial, Bank of America bank/finance institutions) names you find. These are one of two types of people, people who took back a mortgage on the sale of their own home (owner financing)- whether it was their idea or not. You don't usually want these (not for gaining investors who will give you money to do deals anyway).

The second kind is a private lender, someone that loans their money out secured by a property. These are the ones you want. How to find the good ones? Call them and introduce yourself, explain that you are a real estate investor coming across a wealth of high-ROI secure low-LTV real estate deals and in search of short-term mortgage financing from private individuals to get the deals done.

One of three things will happen, two of which will make you money potentially.

a. They know exactly what you're talking about because they hold a LOT of private mortgage notes-- not just the one you found that prompted you to call them-- and love the high safe returns they get. These types will ask what interest rate you're offering or other savvy questions. These are the private lenders you want. Find out as much info as you can about them and add them to your database, promising to notify them first when you have a deal in the works. Don't worry if you don't have answers to all their questions. At this point having their contact info and them knowing who you are, being "pre-pitched" is all we're concerned about.

b. They don't have any idea what you're talking about or think you're crazy or aren't interested or have no money to loan/invest.

c. They know what you're talking about because they have a seller-held mortgage on a house they sold and in fact HATE that they are receiving payments over time-- instead of the lump sump cash they wanted (but couldn't/didn't receive when they sold). NOTE: Two questions here could make you a nice chunk of cash: "Why?" and then "Oh, I see, well Mr. Jones that's actually my specialty. I can get you all the cash coming to you within a week, and you could __(insert their answer to Why? here)__ right away without waiting all those years and the headaches of collecting payments. Of course, because you're getting cash in your hand, it would be a discounted amount from the face value you SETTLED for when you took the mortgage. If I could get that set up for you with just a few questions and you'd have the cash within the week-- would that be something you'd now be interested in?"

Once you've done this it's a simple matter to connect them with a lender you contacted in #1 or find a buyer through an online private lender clearinghouse like http://www.cash4notes.com or calling someone more experienced or getting a private mortgage broker involved- though they'll take much of the profit. Any of these is an easy way to cut yourself in the spread for a few thousand dollars or more, with just a little paperwork and you're doing nothing unethical. If you do this be sure to consult a competent real estate attorney, however, because you're dealing with securities and complicated paperwork).

But again, the point isn't to find cash flow loans, it's to find lender investors for your own deals. Just think of #3 above as a lucrative sideline that costs you little but the time it takes to ask 2 questions.

2) Place ads "Money wanted. Up to 16%. Short term and long term. Minimum investment (insert here whatever 65% of the average value of a home in your area is) Private investors needed. Secure, low-LTV investments collateralized against income-producing properties. Free consultation. Call now.

Local people are best when it comes to developing investor partners for real estate investing. These people are going to want to meet you and see what you're about. Remember, professionals don't have to have all the answers. You just have to know you can get them! So use the local newspaper. Use bandit signs (these are the signs you see on the side of the road- just check your local county ordinances and attorney about possible penalties). Call the guys at 866-SIGN-GUY and even if they're not available in your part of the country, they'll happily refer you to someone who does it where you live I bet. Also, put the above ad on the back of your business cards.

A no cost option is placing the above on http://www.craigslist.org, the world's largest online free classified ads exchange, and other classifieds online.

3) Attend a private money bootcamp seminar, even if you have to borrow or put it on a credit card or convince a better-off friend who is like-minded to go halves on the cost for two to attend. There are some good options for this But it's pricey. Go to the training section of the HIS Real Estate website to learn more.

4) Go to your local REIAs (real estate investor associations). Don't ask these people for advice until you're experienced enough not to fall for the blind leading the blind phenomenon that prevails at many of these, or have seen proof of how successful they are and how many deals they've done. Get business cards, hand out yours. Ask the organizer to address you from the front of the room and introduce yourself. Let people know you're looking for money investors, and that you are in search of investor partners for real estate investing.

5) Improve your own credit.

Here are some simple, easy, and mostly free ideas that won't work for everyone, but will work for many:

-Hire a credit repair company (be careful there are some scams out there)

-Celebrate your successes and hold yourself accountable. Sign up for credit monitoring at 14.95/mo through Truecredit.com or another.

-Get someone in your family or a close friend with GREAT credit to add you as an "authorized user" or better a "secondary user" to their high-limit, long-history credit cards. Tell them it will not affect their credit AT ALL, and they can cut up the card in your name that is sent to them. You'll be surprised at how many points this can bump you up.

- Decrease your DTI and debt-to-credit limit ratios one of two ways. Pay down revolving (credit card) balances to BELOW 50% of the limits. OR, and some people never even think of this one...ask that your credit LIMITS be increased so that the balance owed is less than 50% of the new higher limit

- Remember, sometimes the best investor partner you can have is your own credit's ability to channel OPM

6) Call everyone who advertises "We Buy Houses" in your area. Many of these investors also lend on property as private lenders. It's a great way to find private lenders for real estate investing. With very little change in your schedule (just being AWARE and writing it down when you see these walking or driving- pull over first!) I guarantee you can create a database of HUNDREDS of these in your locality-- unless its extremely rural anyway-just by paying attention to billboards and bandit signs on the side of the road. This is an example of the phenomenon that when you want to make money in real estate without your own money it's What You Know + Who You Know = What you Get.

7) Realize that if you have the What You Know AND the Who You Know handled, What You Have right now is NOT IMPORTANT. Do you follow me?

Danny Welsh is an editor of investing newsletter 'The Good Steward' with Investing Do's, Don'ts and Deals! Danny invites you to learn more today when you join America's #1 Real Estate Network at HIS Real Estate Network.

Also, find investor partners and private lenders using the new search engine for real estate investors -- a fantastic "bookmarkable" resource created by investors for investors.

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Getting Married? What Are The Finance and Credit Implications?

There is a big difference between looking after your own finances while living alone, or with parents, and living with a partner. The transition can be very difficult, especially if both partners are strongly independent, or one partner is financially weak and the other strong. In fact, it is an area of a new relationship that has many pitfalls if you do not set the ground rules from the start.

It is best to sit down together and quietly plan your finances, even before you get married or move in together. Then, when you do so, it is important to be open with each other, and discuss what may go wrong with the domestic finances if you do not plan correctly. That way, you can work on a plan together, and a budget, and set ground rules for a smooth financial future together. It is sensible to bring the use of credit into that discussion, as there will come a time, maybe from day one, when credit cards and other forms of credit become an issue. Agreement on all relevant credit and finance issues will reduce the risk of problems, arguments and misunderstandings later on.

An early decision to make is whether to keep finances separate or not; deciding, for example, whether to have joint bank accounts or joint credit cards.

The Benefits of Joint Accounts

The advantages of consolidating funds into one current account include:

1. Easier record keeping.

2. Should you apply for a loan at any time, there will be less paperwork.

3. Working closely together on the running of the account may help to solidify the relationship and build trust. It gives an opportunity for both of you to bring out your best co-operative nature.

There is one drawback, though. With two people actively using the account, it is not so easy for you to keep track of the account transactions and balances, especially if you are both using the account a lot. This can be overcome by discussing openly all expenditure the day it happens.

The Benefits of Separate Accounts

Keeping separate accounts will allow each person in the relationship more freedom: each will not need to check with their partner over every purchase. In addition, having separate accounts may create fewer complications in the relationship. It will allow them to maintain a sense of independence, and this can be very important to some relationships.

One negative to a joint finance arrangement is that it can seem unfair. If one partner earns £40,000 per year, and the other only £25,000, the person with the lower salary may feel there is a lack of trust!

If you do decide to have joint bank accounts checking or savings accounts, then you will need to find a system for paying household bills and handling other joint finances together. One option that works well, and that I use, is to have one joint bank account into which you both pay each month for the house expenses. This can work very well, especially if you sit down together and agree the budget first, and what proportion will be funded by each partner. It is important to get this all clear from the start, then there is likely to be less risk of a problem with financial arguments later on.

Joint Credit Arrangements

Something else to consider with joint finances is credit. This can be considered beneficial, or problematical, depending on your individual credit ratings. At some stage, though, you may both want to apply for joint credit. This is most likely with a big purchase, such as a car or a house. It is best to do that if you have joint credit. With joint credit, you will both be 100% responsible for the debt, even if you co-sign a loan with your partner, or add your name to your partner's credit card account. If, on the other hand, you decide to maintain separate credit, the general rule is that you are not responsible for each other's debt. An exception to this may be if the debt is considered a family expense.

Should one person have had a bad credit record before marriage, then it is advisable for the other to keep their credit separate. A joint credit application will be considered based on the two crdit scores, and the lower one will drag down the other.

This finance and credit article was written by Roy Thomsitt, owner and author of the Eliminate Credit Card Debt Now website.

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Relationships With Credit - Are You And Your Partner Ready For It?

As you found the love of your life at last, one of the most acute problems that your couple faces is how to manage the both partners' finances. It is usually no easy for the partners to determine how they will spend together and how they will own the property in possession. There are some guidelines to help couples organize their spending according to their choice and lifestyle and the way they make their relationship.

- You and your partner are free to share or not share your property and earnings. There are a number of models to organize the financial aspect of your relationship:

- You spend as a married couple: that is you have joint accounts and are both reliable for payments, plus both of you are involved in the ownership. You also make credit card applications in both names, building a joint credit history.

- Partnership for spending: you can get joint accounts for certain expenditures, such as rent or household payments, on other needs each of you spend on your own.

- Keeping independence-model: each partner pays for himself and you manage to pay for mutual needs (household, food, holidays) in turn or making equal contributions.

When living together, young people can not usually do without big purchases. A TV, a sofa or a washing machine - sooner or later the couple gets in need of such sort of things. No wonder, a loan or a credit card plays the main part in this case. It goes without saying you should be careful and wise to play it fair and safe. Remember, you should be 100% sure of your partner before putting your name on an application or agreement.

These are some possible threats that each of you should be aware of when some of you decides to apply to the bank.

- Be careful becoming a co-signer. If your partner fails to pay off the debt or you fall apart, you will have to pay off the balance, as a second responsible person. Besides, it is fraught with damage to your credit score.

- Joint accounts for credit cards or loans seem to be a good option, but not in cases when the relationship is unstable and seems to be not to last long. Though in this way you can build your credit rating together and both of you are responsible for payments, there are pitfalls to beware. If some of you fail to pay or exceed the limit, the other's credit history can be damaged and he or she will have to pay the balance and all the penalty fees.

- If one of the partners has bad credit, it is required that it should be under repair, in order to prevent future problems with approvals.

- Before taking the decision to apply for mortgage or a car loan, which are long term and money consuming types of lending, you should know for sure you can trust your partner. Mistakes in this matter can cause serious troubles like bankruptcy.

Love has nothing to do with money. So if you want to be protected, it does not mean you do not love your partner. Create your relationship and do not forget about future and financial security.

Anne R. Sparks specializes in monitoring credit card applications market and financial consulting. You are welcome to visit her site for reliable credit card or debt advice.

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Check Your Fiance's Credit History

If you are getting married, you are entering into an exciting time in your life. Even so, it is important for everyone, including newlyweds, to remain practical when managing their finances. Credit reports make it very easy for couples to better manage their finances.

You may not feel that it is essential for you to check your partner's credit history since you likely trust your partner, but there are many reasons why you should check it. The credit history of your partner will deeply affect your future financial circumstances. Once you review your partner's credit history, you will be better positioned to manage your finances and greatly improve your overall financial condition.

The checking of your partner's financial history will also give you the opportunity to verify the statements they have made about their finances. Many individuals have entered into marriages not knowing their partners owed large sums of money to creditors. As a result of the many instances in which individuals have found themselves married to partners with tremendous amounts of debt, financial advisers commonly recommend couples check the credit reports of their partners before getting married.

Since most couples maintain relationships built upon honesty, the checking of your partner's financial history will likely provide you with an opportunity to bond with your fiance. Once you have reviewed their financial condition, you will know they have been telling you the truth about their finances. You will likely also feel more secure knowing your financial condition will remain in good standing once you are married if they presently have a desirable credit score.

Couples who have traditionally mismanaged their finances can also benefit from the reviewing of their history with money. If you discover your fiance has an undesirable financial history, you can immediately take steps to better prepare for your future. For instance, by having the most financially responsible individual in the relationship manage bank accounts and credit cards, your financial condition as a couple will likely improve throughout your marriage.

While the financial aspects of getting married are probably not of great concern to you, there are many benefits to reviewing your fiance's credit history. Not only will the reviewing of this report provide you with additional information about them, it will also help you better prepare for your financial future. Some people feel the reviewing of a fiance's history with money is an invasion of privacy, but many couples regularly obtain a credit report to further strengthen their relationships and improve their finances.

You will get a brief summary of the benefits of credit report and tips on how to improve your credit report, right now.

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Corporations - How To Start A Business With Bad Credit

Possessing a bad credit history, is a very common hurdle for individuals who wish to start and run their own businesses. Unless you win the lottery, or have an extremely rich relative, then you are going to have to be able to retrieve a certain amount of capital startup funds. The easiest and quickest way to retrieve capital startup funds is through loans or lines of credit. This can be very tricky for the individual who wants to start a business with bad credit.

First, let's take a look at starting a business as a sole proprietor. The most common mistake for an entrepreneur looking to start a business, is to establish too much personal financial liability in connection with the business debt. A sole proprietorship establishes the absolute maximum liability on the business owner. All business debts are the sole responsibility of the owner, and any outstanding debts, if the business happens to fold, affect the owner's credit and finances directly. Keep in mind, that 80% of small businesses fail within the first five years according to numerous government reports. Sole proprietors who have the business debt tied to their personal finances, will be 100% liable, when those businesses fold.

Next, let's take a look at starting a business with a partner. The second most common mistake an entrepreneur looking to start a business makes, is in thinking that they can lessen their liability by taking on a partner. This is a very common myth, because if and when, they business may fold, the personal finances of both partners suffer equally. Yes, it is better to have two or more partners, to shoulder the financial load, however, if the business itself is the sole means of paying for all the financial responsibilities, then whether there are two partners, or fifty partners, whenever the business fails, then everyone's finances and credit suffer equally.

Now, let's take a look at corporations. Ah yes, there is a light at the end of the tunnel. What is a corporation? A corporation is a continuous independent entity which is created by an association of individuals, under authority of law, which has independent powers and liabilities from the members of its association. Okay, that's the dictionary definition, but in laymen's terms, a corporation is like another individual, with another social security number, which can file its own tax return, declare bankruptcy, and has all the powers and liabilities of an independent business owner.

What this means, is that if the corporation fails, then the individual who runs the corporation has absolutely no liability whatsoever. A corporation simply dissolves into thin air when it fails. In this way, an entrepreneur who starts a corporation, has absolutely no personal financial risk or liability. An entrepreneur can start multiple corporations which may fail, without affecting their personal credit or finances in a negative way.

Okay, so if I have bad credit, then how does starting a corporation benefit me? Since a corporation is a new entity, with a new social security number, then the corporation has no bad credit. This means that the corporation can now apply for loans, credit cards, and any other type of credit. The individuals who run the corporation may have terrible credit, however this has absolutely nothing to do with whether or not the corporation's credit is good or bad. Many banks and credit card companies, are much more willing to give corporations higher credit limits, with much better terms, than individual business owners. An entrepreneur with bad credit can start a corporation, and receive credit based upon the corporation's credit history, without every having their borrowing history checked. Many entrepreneur's with bad credit, have utilized the corporation's limits of liability and borrowing potential, to attain massive amounts of startup capital to fund business projects, which they themselves would have never had the opportunity to fund otherwise.

The bottom line: if you have bad credit and no capital, then start a business as a corporation. This will limit your financial liability, and give you the opportunity to attain capital based upon the corporation's credit history, not yours.

For more information about credit cards and how to apply for a credit card [http://www.apply-forcreditcards-online.com] please click here [http://www.apply-forcreditcards-online.com]

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Affiliate Card Credit Marketing Program - How Does it Work?

Affiliation over the World Wide Web is all about making money, and anyone can do so with as little hassle as possible. This is an Internet marketing scheme that allows home-based entrepreneurs to work from home. Unlike a 9-to-5 job, a person can perform this kind of business enterprise whenever he or she wishes. Although there is are lots of programs in the web offering affiliate marketing, many people still would like to know more details about specific affiliate partners.

For purposes of discussion, we will focus on the workings of card credit market programs or credit card affiliate programs.

So what are credit card affiliate programs?

Credit card affiliate programs are sponsored by credit card companies or other financial companies who wish to extend their products and services through their affiliate's websites. An affiliate, or someone who markets the said products and services usually profit greatly from the affiliate marketing work that they do in behalf of their affiliate partner.

The process of credit card affiliate marketing can be simplified as thus: an affiliate (the online user doing the advertising) creates a website (or web page) where he or she can market the said products or services for the credit card company. He or she can do this by creating an active online page with banner and text ads that link to the affiliate partner's website; or by simply creating a marketing article promoting the products and services, with a hyperlink to the actual sponsors.

The affiliate is then rewarded with points when he or she manages to redirect subsequent website visitors to perform specific actions, like: clicking on through the affiliate partner's website; or subscribing to an online newsletter; or applying for a credit card from the affiliate partner.

Depending on the prior agreement between affiliate and affiliate partner, the accumulated points are then converted into monetary cash.

Are there more specific details a prospective affiliate should know about?

Yes. Credit card affiliation programs are not an all a new thing. So there are yawning differences between each and every credit card affiliation programs out there. If you want to enroll in a credit card affiliation program, you should read their terms and conditions very carefully. Read the fine print, especially those that sanction how they are to reward you with points.

Some programs simply want to increase their website traffic, and thereby allots one point to every website visitor the affiliate can point their way. In such a case, the affiliate is compensated (usually) after 1,000 redirected visitors - $20 for 1,000 hits, for example.

In other programs, they would prefer a more specific action like having an online visitor fill out an open form for newsletters or even sending in an inquiry. For this, point are (usually awarded) every hundred or so visitors - $20 for 250 newsletter forms, for example.

And still in other programs, the affiliate partner would (usually) allow a 1% commission for every online visitor who actually applies for a credit card, or applies for a larger credit line, etc. This is called performance based commissions. Although this is the most difficult kind of redirection, this is also the most rewarding among the three credit card affiliation programs.

Are You Ready To Really Make Money Online?  Better Lifetimes will show you how to start for FREE!  Head on over to Michael's internet marketing page and get his Affiliate Card Credit Marketing Program For FREE!  This information can help you go from making $0 to four figures in a short period of time.  Visit www.BetterLifetimes.com today!

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Co-Signer and Co-Borrower and Your Credit - What You Don't Know Can Hurt You

Before agreeing to be a co-signer or co-borrower with ANYONE, including family, friends or acquaintances, be aware that doing do obligates YOU to pay the account on the loan, bill or whatever it might be, if the BORROWER doesn't pay. That's what being a co-borrower or co-signer means. Any number of times in my collection days or interviewing potential mortgage customers when an account came up as past due or as a collection, the co would say, "That's not my bill. I just signed so they could get the money." Now, either a loan officer didn't do a very good job of explaining exactly what it meant to be a co-signer or the customer chose not to understand the ramifications of agreeing to sign a loan with someone else.

Randy, an assistant manager with a grocery store, had co-signed with a route driver for a bottling company, just trying to be "helpful" to someone going through a rough time financially. Imagine the surprise of the collection manager when Randy informed them he had filed Chapter 13 Bankruptcy and any further discussion of the account needed to be done with his attorney. When a debtor says the word BANKRUPTCY, the caller, whether from a collection agency, bank, finance company or whatever, cannot call the debtor again. And they cannot call the co-signer if there is one, to let them know what is going on. The only way a co-signer will know if they apply for credit themselves and the lender asks them about it or tell them they need to get a copy of their credit report to see why they were denied credit. It doesn't sound fair but it's the law and going against it can land a lender, collector or whoever in a lot of trouble.

If for any reason one should agree to be a co-signer or co-borrower on a loan, make a point of calling periodically to check the account payment history. Whatever the payment history, good or bad, on time or late, it will show on the credit report for both co-borrower and borrower.

In business, if partners sign a payment agreement of any kind and only one person in the partnership pays their part, the other partner will be held responsible for the remaining part of the bill. A mortgage loan was held up because of legal action was taken against two partners even though one partner had paid "his part" of the account. In order to close his mortgage loan, the "good" partner had to pay the rest of the bill plus court costs, interest and filing fees.

On other types of contracts, even if everyone agrees to split the costs, if one party doesn't pay their share, it will fall to the others to pay even if they have already paid their part. One family found themselves in court over the funeral expenses of their late Mother when one of the siblings decided not to pay their part. All were sued over the remaining balance.

Ex-girlfriends, ex-boyfriends and ex-spouses have found themselves in credit trouble because they trusted the other person to do the right thing and pay the bill. Because they never followed up, their credit scores have been wrecked due to late payments or nonpayment of loans, credit card balances and/or mortgages. Never take anything for granted. Call, follow up until the account(s) are paid off and closed. Your credit depends on it.

Barbara Tubbs Hill has been in the credit and mortgage business for over twenty years. The people in this article are real. Some are family members and others have been customers. For more information and the Credit Tip of the Week, go to [http://www.askbarb313.com]

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Dealing With Credit Card Debt in Divorce

It is always a major tragedy when a marriage ends in divorce. The breakdown of the family unit and the difficult adjustment for the kids (if there are any involved) is one of the hardest aspects about divorce. The difficulty of separating one house into two can be burdensome and tedious to say the least. You have to go from one checking account to two, two homes instead of one and separate accounts for everything from credit cards to utilities. This becomes a very difficult adjustment to make for the entire family.

In any divorce situation there is a splitting up of assets between the two parties. This is likely to include credit card debt as well because this plays an important part in the general financial picture for many families today. To the credit card company, the family credit card is the property of that shared entity which was the marriage. So when the union dissolves, the transition, from a financial point of view, of your credit card accounts is one that does not happen overnight, and can be a very long, drawn out process.

So one of the many issues that needs to be discussed and planned is how to separate the credit card debt. Whoever continues to hold the family accounts in their respective name will continue to get those bills, and that individual will be expected to pay them. Now the least preferable way to handle the debt is to roll the payments into any forced settlement agreement such as child support. When the divorce does reach a conclusion and becomes final, the amount of the debt and the payments that must be made could be calculated, and half of that total put into the amount that the income-generating partner must provide.

But that leaves the management of the credit card debts to one partner while the other one just pays a set amount. Additionally, if the credit cards are used by either partner, the legal amount would have to constantly be adjusted, and that would prove to be a constant headache of administration.

If the divorce is a shared responsibility so each spouse can work with the other to adjust the financial picture in an advantageous way, then how to separate the credit card debt should be part of that planning. Part of that planning is how to use shared assets to pay down the debt. You may have a home, retirement accounts or other assets that were set aside for the future of the marriage. An option to consider would be to close those accounts or sell assets, and distribute the funds equally. These monies can be used to retire the shared debt.

It's likely some of the debt load will live on past the divorce. In those cases distributing it into two individual accounts may be the best option. For example, if the family was carrying $10,000 in debt, if each marriage partner walks away with $5000 of the debt this would seemingly be fair and equitable. How each individual handles the split debt is up to them.

There are two ways you can go about splitting the credit card debt. If the debt is with a credit carrier with whom you can negotiate and conduct a dialogue, getting a meeting or having a conference call with the managers would be productive. The credit card company would far rather negotiate with you on how to handle this debt load than deal with it chaotically after the fact. So the actual splitting of the credit card debt may be coordinated by the credit card company itself.

But you can always use the method many of us have used to manage credit card debt up until now. Each of you could set up new separate credit card accounts. You no doubt have dozens of credit card offers you can use to initiate this process. In many cases, part of the set up offers for these accounts are balance transfers. So if you take out individual accounts and use the balance transfers to move each partner's share of the debt to those accounts, this may be an effective way to split the debt.

Adjustments may need to be made to the 50-50 split idea based on many factors but especially on which partner generated the bulk of the household income, and which partner generated the actual debt load in question. But by negotiating the terms of how you are going to separate the credit card debt when you dissolve the marriage, you will be dealing in a mature and responsible manner within an already very tough and tense situation.

You will find more information on managing debt as well as saving and managing your money better at [http://www.money.bestdamnguidebooks.com]. Trent Cohen invites you to participate in the blog and sign up for his Free Reports on all of these important topics.

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Will You Be Burdened by Divorce and Excessive Credit Card Debt?

Has the honeymoon ended at last? Have all those little quirks in your spouse's personality that you once found endearing have now become too annoying? Is it time to reconsider your marital status for the good of both you and your partner? These things happen. It is best to get it done as quickly and as professionally as possible and move on.

Onus of Debt
Divorce is a sad, but often times a necessary thing to terminate a relationship. There are a lot of reasons for a couple to split up, but no reason why the bulk of the divorce spouse credit card debt should fall on one party or the other without good reason. Care should be taken to ensure that the onus of the debt of one spouse does not become the responsibility of the other. In the case of any separation, this should be the overriding factor. You do not want to get saddled with your spouse's debts and they don't want to have to deal with yours.

Even Division of Debt
In the case of most divorces, the separating couple will evenly divide their assets and debts between themselves. This includes credit cards and any debt that comes with them. This is the most equitable and just manner of settling credit card debt.

Any joint accounts should be closed, and the debt assigned to one spouse or the other, depending on fair use. Essentially, whoever is responsible for the debt will pay it down. In this way, both spouses can be protected from the debts of the other. Once responsibility for debt is assigned, the assets can be divided and the divorce process can proceed accordingly.

Aggrieved Spouse
Many times, in particularly acrimonious divorces, an aggrieved spouse will attempt to overspend on a joint account, ostensibly to prevent their former partner from acquiring any benefit from the account or for spite. So any joint-credit-card accounts that exist should be closed immediately. Both spouses must be protected from the debts of their partner if the divorce is to be amicable and efficient. After all, There is no reason things have to be worse than they already are.

Creditors' Obligations
Your creditors are not obligated to respect the terms of your divorce settlement. Regardless of whether it is you or your spouse who has decided to pay a certain bill, the credit card company will automatically look to the person whose name is on the card. As with many things relating to credit card debt, it may behoove you to get in contact with your creditors and explain the situation. It may be possible to transfer the debt to the appropriate person as well as clear up any possibilities for future problems having to do with your personal situation.

Regardless of how it goes, just remember that the process of divorce is as tough on your partner as it is on you. But divorce and excessive credit card debt need not happen between two responsible adults. There is no reason to make things worse by being a hard nose about something like credit card debt. Get it handled and get it paid and be done with things once and for all. You'll feel better for having done so.

Ken Muller is a credit card debt enthusiast. Visit All About Credit Card Debt for more expert advice on the Settling Credit Card Debt [http://www.allaboutcreditcarddebt.com/] and other tips you can use right now to eliminate credit card debt.

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