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What is Credit Repair?

Posted on October 29, 2018 at 10:15 PM Comments comments (0)

What is Credit Repair?

According to Experian here is your answer:

When people mention credit repair, they are often referring to organizations that charge a fee, promising to remove negative information from your credit report. The most important thing to know about these organizations is that there is nothing they can do for you that you can't do for yourself.


If you feel there is inaccurate information appearing on your credit reports, you have the right to contact each of the three credit reporting agencies and dispute that information for free. You can dispute information on your Experian credit report online, by phone, or by mail. The easiest, fastest and most secure way to dispute information is online at www.experian.com/dispute.


Credit repair companies do not have any special rights or privileges when it comes to disputing information on your credit reports. They are regulated by the Credit Repair Organizations Act (CROA). Before paying for services with any organization promising to fix your credit, be sure you understand your rights under this federal law. Here are just a few of the things the law requires. The organization:

  • must provide a written contract specifying the services it will provide
  • must allow three days for you to withdraw from the contract
  • cannot advise you to make false claims are alter your identity, which could make you guilty of credit fraud
  • cannot take any payment until it fulfills all of the terms of the contract
  • cannot promise to remove accurate information from your credit report in return for payment

Improving Your Credit

The single most important factor in credit scores is paying your bills on time. If you are trying to improve your credit scores, it may be more beneficial to use the money that would be spent on hiring a credit repair firm to pay down any outstanding debts on your credit report and bring any past due accounts up to date.

Once your accounts are current, the most important thing you can do is make sure all of your payments are made on time, every time.

You may also want to consider ordering your credit scores from each of the three credit reporting agencies.

When you receive a credit score, it should come with a list of the elements in your credit report that are most affecting your score. Paying attention to this list will help you determine what changes you can make to further increase your credit rating going forward.

Credit Facts You Can Count on to Score

Posted on October 29, 2018 at 9:50 PM Comments comments (0)

6 SECRETS ABOUT YOUR CREDIT MAYBE HURTING YOUR CREDIT SCORE - Some factors affecting your score might be obvious, others are sneaky and easy to overlook. Make sure you consider all of the factors that affect your small business credit score.

Whether you’re in the market for a new credit card or a business loan, you probably already know that potential lenders will scrutinize your business’s history and financials. But did you know that your personal credit score can affect lenders’ decisions about whether to extend you those loans and lines of credit?


If that seems unfair, consider this: Until you’ve established a solid line of business credithttps://www.crilegal.com/credit-guide" target="_blank">, the only history available for potential lenders to assess is your personal credit score. And while some of the factors affecting your score might be obvious (failing to pay bills; maxing out credit cards), others are sneaky and easy to overlook.


But before we dig into the surprising pitfalls that could lower your score, let’s get the basics out of the way.


What’s my credit score, again?

Think of your credit score like a debt management report card. A high score tells potential lenders that you’re responsible and trustworthy—someone who can be relied on to pay back their debts. A score of 700-749 is considered good; anything above 750 is excellent.


When you were a kid, your parents might have rewarded you with money for stellar grades. That’s kind of how your credit score works, too—except that money comes in the form of you getting approved for more types of loans, with the best possible rates. Lenders determine if you’re credit worthy by checking your FICO score—a decades-old system that’s now used by all sorts of lenders to estimate your creditworthiness.


The Sneaky Reasons Your Credit Score Might Be Tanking

Maintaining solid credit is one-part diligent maintenance and two parts careful balancing act. Sure, you’ll want to pay your bills on time, in full, every month. You’ll also want to use your credit cards—but not too much. You’ll want to maintain a healthy mix of credit accounts, like a mortgage, car loans, and credit cards—but don’t go overboard, opening a slew of accounts.


Monitoring your credit-related activities so closely might feel like overkill but trust us—soon it’ll be second nature. Remember to follow the two ground rules: Pay your bills on time and pay off your debt. And be on guard against these 6 surprising reasons your credit score can take a hit.


1. Library and Other Rental Fees

Been holding on to that battered copy of “Who Moved My Cheese?” for so long, you think it’s not worth returning? Think again. The 2008 recession inspired libraries and media rental companies (like Netflix and Redbox) to keep track of delinquent accounts. They report these accounts to collection agencies, who in turn rat on you to the credit bureaus. So, round up those overdue books and movies and prepare to settle up.


2. Your Gym Membership

Gym contracts’ stringent canceling policies seem downright cruel, with many requiring you to send a letter or cancel in person. But if you’re not using the membership, cancel it. Don’t let monthly unpaid fees pile up, and don’t even think about simply closing the account from which you paid those fees. Defaulting on your dues could trigger the collectors to come after you—but closing your account will lower your score even more.


3. Opening New Accounts

Whenever someone requests your credit information, it shows. Called “credit inquiries,” these requests come in two varieties: “soft” and “hard.” Soft credit inquirieshttps://www.crilegal.com/credit-guide" target="_blank"> occur when a non-lender, such as a future employer, requests your credit score. Most of the time, this doesn’t affect your score.


A hard inquiry happens after you’ve applied for some type of credit, triggering the lender to request your score. These types of inquiries can lower your score. That’s because your request is a red flag, signaling to credit bureaus that you need money and could possibly default on your debt.


4. Changes to Current Accounts

Like opening a new account, requesting a change to a current account—like increasing your credit limit, or lowering your annual interest rate—is considered a hard inquiry. Your credit card company will need to check your credit, resulting in a lowering of your score.


5. Parking and Speeding Tickets

It’s amazing how these seemingly minor violations can dog us for years. If you fail to pay a ticket and it ends up in collections, you’re delinquent. Your debt will be reported to the credit bureaus, where it can cause your score to drop dramatically—sometimes by as much as 50 to 100 points.


6. Failing to Use Your Credit Card

Credit bureaus like to see that you have access to a lot of credit but don’t use it all. Experts suggest targeting a credit utilization ratio below 30% (i.e., you’re using only that percentage of your available credit). 

Rather than trying to hit that ratio, it might seem easier to simply not use your card at all. But paradoxically, an unused card is terrible for your credit score. If your account shows six months of inactivity, your bank may stop reporting your card information to the credit bureaus. Or they might close your account, full stop. Either situation will tank your score.


But don’t be discouraged: A healthy credit score is achievable with a little time and effort. Monitor your credit (and snag your free annual report from AnnualCreditReport.com) and pay your bills in full. Than get that small business loan—and use it to expand your hiring, purchase new equipment, or move into a larger space. Because the ultimate reward of a healthy credit score is the opportunity to dream bigger. 


NOTICE OF COMMENCEMENT STATE LAWS

Posted on October 20, 2018 at 7:20 AM Comments comments (0)

November 23, 2011


2011-R-0396

 

NOTICE OF COMMENCEMENT OF WORK IN MECHANICS' LIEN LAWS

 


By: James Orlando, Associate Analyst


You asked about states that provide for the filing of a notice of commencement of work when providing mechanics' lien rights.


SUMMARY


We found several states with mechanics' lien laws that require or allow an owner or other party to file a notice of commencement of work when contracting for improvements to real property. These states include Florida, Georgia, Michigan, Nebraska, Ohio, South Carolina, and South Dakota. Utah requires a notice of commencement only for government projects.


In these states, a notice of commencement is generally filed before the project begins or within a specified number of days of project commencement. Generally, in states with notice of commencement laws, when a notice is filed, mechanics' liens are effective from the filing of the notice, although there are exceptions. States with notice of commencement statutes generally require the notice to describe the property and provide the names and addresses of the property owner, contractor, and others connected to the project (e.g., some states require the lender's name and address). Some require the notice to describe the proposed improvement. Some also require a statement about lien rights and owner requirements and possible liabilities.


States with notice of commencement statutes generally require them to be both filed and posted on the work site. Some of these states require the owner or lessee contracting for the improvement to provide the notice to specified people connected with the project, either automatically or upon request. Contractors or subcontractors must also provide the notice to specified others in certain states.


Connecticut's mechanics' lien law does not provide for the filing of a notice of commencement of work. In 2011, Raised Bill 6644 would have created a process for the holder of a mechanics' lien to establish priority for the lien, effective upon filing a notice of commencement. The bill received a public hearing but no further action.


EXAMPLES OF STATES WITH NOTICE OF COMMENCEMENT LAWS


Below, we summarize laws regarding notices of commencement in the states listed above. Please note that these descriptions do not include all details of the applicable law or all ways that a notice of commencement may affect the mechanics' lien process. These descriptions also do not include all aspects of the specific requirements for what must appear on the notices themselves (e.g., whose name and address must be listed on the notice). If you would like more information about particular states or about particular aspects of the process, please let us know.


Florida


Florida's construction lien law generally requires the owner or owner's agent to file a notice of commencement for projects with a contract price over $2,500. The notice must be filed in the clerk's office, before the work begins.


If the contract between the owner and contractor states a completion time of greater than one year, the notice of commencement must state that it is effective for a year plus any additional period of time. Payments the owner makes after the notice of commencement expires are considered improper. A copy of any payment bond must be attached to the notice when it is recorded (failure can negate an exemption from certain other provisions).

 

The notice is effective upon its filing. If the work described in the notice is not begun within 90 days from the notice's recording, the notice is void. The law specifies that the recording of the notice does not itself constitute a lien on the property, but gives constructive notice that claims of lien under the construction lien law may be recorded and may


take priority as provided by law. The posting of a copy of the notice does not constitute a lien, cloud, or encumbrance on real property or constitute actual or constructive notice of any of them.


The following statement must appear on the notice (the statement is in all capital letters in the statute):

 

Warning to owner: any payments made by the owner after the expiration of the notice of commencement are considered improper payments under Chapter 713, Part 1, Section 713.13, Florida Statutes, and can result in your paying twice for improvements to your property. A notice of commencement must be recorded and posted on the job site before the first inspection. If you intend to obtain financing, consult with your lender or an attorney before commencing work or recording your notice of commencement.


The owner must post the notice at the construction site. The law also provides a procedure for amending the notice.

 

The law requires a lender to record the notice of commencement before disbursing funds to the contractor. The lender's failure to record the notice makes the lender liable to the owner for all damages sustained by the owner as a result of the failure. Whenever a lender is required to record a notice of commencement, the lender must designate the lender, in addition to others, to receive copies of notices to the owner. These provisions do not give anyone other than the owner a claim against a lender for failure to record the notice (Fl. Stat. Ann. § 713.13).


With some exceptions (e.g., specified professional services and subdivision improvements), Florida law provides that construction liens attach and take priority when the notice of commencement is recorded. If such a notice is not filed, the liens attach and take priority when the claim of lien is recorded (Fl. Stat. Ann. § 713.07).


After construction is completed, or after construction has ended before completion but all lienors have been paid, an owner can end the effectiveness of the notice of commencement by filing a notice of termination and meeting other requirements (Fl. Stat. Ann. § 713.132).


When someone applies for a building permit, the issuing authority (among various other requirements) must inform the owner of the requirement to record a notice of commencement and the consequences for failing to do so, and provide at least two copies of the notice form (Fl. Stat. Ann. § 713.135).

 

 

Georgia

 

Georgia's mechanics' lien law requires the owner, owner's agent, or contractor to file a notice of commencement with the superior court clerk within 15 days after the contractor begins work on the project. The contractor must give a copy of the notice to subcontractors, materialmen, or others upon written request.

 

The failure to file the notice of commencement renders inapplicable certain requirements regarding a “notice to contractor” that generally apply to subcontractors and others who are not in privity of contract with the contractor and attempt to enforce a lien. The contractor's failure to provide a copy within 10 days of receipt of a written request, as specified above, similarly renders these requirements of the lien law inapplicable to the subcontractor or other person who requested it.

 

The law specifies that the filing of the notice of commencement does not (1) constitute a cloud, lien, or encumbrance upon or defect to the title of the property described in the notice, (2) change the allowable aggregate amount of liens, (3) affect the priority of any loan in which the property is to secure payment of the loan filed before or after the notice, (4) affect the future advances under any such loan, or (5) affect specified provisions regarding dissolving liens (Ga. Code Ann. § 44-14-361.5).

 

Georgia also requires a notice of commencement in other circumstances (e.g., a contractor furnishing a payment bond or security deposit on a public works construction project) (Ga. Code Ann. § 13-10-62).

 

Michigan

 

Michigan's construction lien law has separate statutes for residential and non-residential property. For residential property, an owner or lessee contracting for physical improvements to property must prepare and provide a notice of commencement to a contractor, subcontractor, supplier, or laborer, on their written request. For non-residential property, an owner or lessee contracting for such improvements must record a notice of commencement in the office of the registrar of deeds, before the work begins. In either case, a blank notice of furnishing (a notice by a subcontractor, supplier, or laborer who provides labor or material to the project) must be attached to each copy of the notice of commencement.

 

The following statement must appear on the notice of commencement, for both residential and non-residential projects:

 

To lien claimants and subsequent purchasers:

 

Take notice that work is about to commence on an improvement to the real property described in this instrument. A person having a construction lien may preserve the lien by providing a notice of furnishing to the above named designee and the general contractor, if any, and by timely recording a claim of lien, in accordance with law.

 

A person having a construction lien arising by virtue of work performed on this improvement should refer to the name of the owner or lessee and the legal description appearing in this notice. A person subsequently acquiring an interest in the land described is not required to be named in a claim of lien.

 

A copy of this notice with an attached form for notice of furnishing may be obtained upon making a written request by certified mail to the above named owner or lessee; the designee; or the person with whom you have contracted.

 

The following notice must also appear on notices for residential projects only:

 

WARNING TO HOMEOWNER

 

Michigan law requires that you do the following:

 

1. Complete and return this form to the person who asked for it within 10 days after the date of the postmark on the request.

 

2. If you do not complete and return this form within the 10 days you may have to pay the expenses incurred in getting the information.

 

3. If you do not live at the site of the improvement, you must post a copy of this form in a conspicuous place at that site.

 

You are not required to but should do the following:

 

1. Complete and post a copy of this form at the place where the improvement is being made, even if you live there.

 

2. Make and keep a copy of this form for your own records.

 

While there is substantial overlap in the requirements for residential

 

and non-residential projects, there are differences. For example, for non-residential projects, the owner, lessee, or designee must automatically provide a copy to the general contractor, if any, and must provide a copy to specified others within 10 days of a written request. For residential projects, the notice must be provided within 10 days of the contractor's or specified others' written request.

 

Both statutes have similar requirements for contractors or subcontractors to provide the notice to specified others in direct contract with them, on written request. Under the residential statute, if contractors or subcontractors receive such a request but have not been given a notice of commencement, they must give the requester the name and address of the owner or lessee. Failure to meet these requirements makes the contractor or subcontractor liable to the lien claimant for expenses sustained in obtaining the information provided by the notice. The owner or lessee is similarly liable for failing to (1) post the notice as required by law or (2) provide the notice to the general contractor (non-residential only).

 

The owner's, lessee's, or designee's failure to record the notice (non-residential only) or provide the notice upon request as specified above extends the time a subcontractor or others have to provide a notice of furnishing. If a notice of commencement furnished by or for an owner or lessee contains incorrect information, a lien claimant's rights against the owner's or lessee's property are not adversely affected.


For non-residential projects, additional provisions apply if the owner, lessee, or designee fails to provide, record, and post the notice within 10 days of the contractor's written request to do so after the work has begun. In that case, the owner or lessee is generally barred from requiring the contractor to hold the owner or lessee harmless from liens to the extent the claims could have otherwise been avoided through proper payment, had the owner or lessee complied with the request. If the contractor pays a valid lien claim at the direction of the owner, lessee, or designee after that person's failure to comply with the notice of commencement requirements, the owner or lessee is generally liable to the contractor to the extent the lien claim could have otherwise been avoided through proper payment had such request been complied with (Mich. Comp. Laws Ann. § 570.1108 (non-residential); Mich. Comp. Laws Ann. § 570.1108a (residential)).


Michigan law provides that the recording of a notice of commencement or a claim of lien operates as constructive notice to subsequent purchasers or encumbrancers in the same manner as the recording of a real estate mortgage (Mich. Comp. Laws Ann. § 570.1112).



Nebraska


Nebraska law allows a contracting owner or others to file a notice of commencement in residential construction projects. The notice must have a duration of at least six months, although the owner can extend it. If a notice does not state its duration, it has a duration of one year.


If there is no notice of commencement applying to an improvement, a claimant entitled to record a lien may record such a notice. Such a notice has an automatic one-year duration. A claimant who records a notice of commencement must send a copy to the contracting owner no later than the day of recording. A claimant who fails to do so is liable to the owner for any damages caused by the failure (Neb. Rev. Stat. Ann. § 52-145).


Nebraska law specifies that if a claimant records a lien while a notice of commencement is effective as to the improvement in connection with the lien, the lien attaches as of the time the notice is recorded, even if visible commencement of the work occurred before the notice was recorded (Neb. Rev. Stat. Ann. § 52-137).


A claimant who records a notice of commencement after recording a lien has equal priority with claimants who record a lien while the notice of commencement is effective. Any priority which the claimant gained over third parties by recording the notice of lien is preserved for the benefit of all claimants having equal priority under this provision (Neb. Rev. Stat. Ann. § 52-138).


Nebraska law provides for an owner to terminate a notice of commencement, by recording a notice of termination (which can take effect no earlier than 30 days after its recording) and meeting other requirements, such as notifying claimants who have requested to be notified of such a termination notice and publishing a notice in a newspaper (Neb. Rev. Stat. Ann. § 52-146). If an owner records a notice of termination before abandonment or substantial completion of all the improvements covered by the terminated notice of commencement, he or she is personally liable to any lien claimant to the extent that the claimant is unable to realize on a lien because the notice of termination was recorded before abandonment or substantial completion (Neb. Rev. Stat. Ann. § 52-156).


Ohio


For improvements to private real property, Ohio law requires an owner or lessee to record a notice of commencement in the county recorder's office, before starting the project, when contracting for labor, work, or the furnishing of materials which could give rise to a mechanics' lien. The requirement does not apply to home construction contracts, unless the lender requires it.


Among other requirements, the notice must include the following statement:


To lien claimants and subsequent purchasers:


Take notice that labor or work is about to begin on or materials are about to be furnished for an improvement to the real property described in this instrument. A person having a mechanics' lien may preserve the lien by providing a notice of furnishing to the above-named designee and the above-named designee's original contractor, if any, and by timely recording an affidavit pursuant to section 1311.06 of the Revised Code.


A copy of this notice may be obtained upon making a written request by certified mail to the above-named owner, part owner, lessee, designee, or the person with whom you have contracted.

 

Ohio law provides that if a notice of commencement furnished by or for an owner or lessee contains incorrect information, the owner or lessee is liable for a lien claimant's loss of lien rights and actual expenses the claimant incurs in maintaining lien rights, including attorney's fees, if the loss and expenses are a direct result of the claimant's reliance on the incorrect information.


In addition to filing the notice of commencement, the owner, lessee, or designee must (1) serve a copy on the original contractor and (2) provide a copy to a subcontractor, supplier, or laborer within 10 days of their written request. Contractors and subcontractors who have been provided a copy of the notice and who receive a written request from specified others (e.g., supplier) who have a direct contract with them must also provide it within 10 days of the request. Failure to meet these requirements makes the owner, lessee, contractor, or subcontractor liable for actual expenses the other person incurs in obtaining the information. Similar liability applies if the owner, lessee, or designee fails to post the notice. 


Failure to record or serve the notice of commencement also extends the time a subcontractor or supplier has to serve a notice of furnishing. If an owner, lessee, or designee fails to record a notice of commencement, a subcontractor or material supplier who performs labor or work upon or furnishes material for the improvement does not have to serve a notice of furnishing to preserve lien rights. Additional consequences apply if the owner, lessee, or designee fails to serve, record, or post a notice of commencement after the work has begun and the contractor requests that the notice be served, recorded, or posted.

 

If the owner or lessee fails to record a notice of commencement within certain time frames, the contractor or someone holding a mortgage may record one on the owner's or lessee's behalf. In that case, the owner or lessee is liable to the contractor or mortgage holder for costs and expenses incurred in (1) obtaining the information contained in the notice and (2) preparing and recording it.

 

A notice of commencement expires six years after its filing, unless the notice or amendments to it specify otherwise (Rev. Ohio Code Ann. § 1311.04).

 

With some exceptions, after a notice of commencement is recorded, liens are effective from the date of the notice's recording. Ohio has several other provisions regarding the interplay of the notice of commencement with lien effective dates and lien priority, including for situations where a lien secures a claim for work performed both before and after the notice is recorded (Rev. Ohio Code Ann. § 1311.13).

 

Ohio has a separate notice of commencement statute that applies to improvements of public property. A public authority must prepare a notice of commencement, and make it readily available to the public upon request, before the performance of any labor, work, or furnishing of materials for a public improvement (Rev. Ohio Code Ann. § 1311.252).


South Carolina

South Carolina law allows someone entering into a direct agreement with an owner for real property improvements, or someone with the owner's consent, to file a notice of project commencement with the court clerk or register of deeds.

The notice must be filed within 15 days after work begins. Among other requirements, a location notice must be posted at the job site, containing the following statement: 

The contractor on the project has filed a notice of project commencement at the county courthouse. Sub-subcontractors and suppliers to subcontractors shall comply with Section 29-5-20 when filing liens in connection with this project.

Failure to file a notice of project commencement has several consequences, such as rendering specified provisions of the lien law inapplicable (e.g., provisions relating to requirements for a notice of furnishing and proration of payments among lienors).

The law specifies that the filing of a notice of project commencement does not constitute a cloud, lien, or encumbrance upon, or defect to, the title of the real property described in the notice. The filing also does not (1) change the aggregate amount of liens allowable under the law regarding workers employed by someone other than the owner, (2) affect the priority of any mortgage filed before or after the notice, or (3) affect any future advances under any mortgage (S.C. Code § 29-5-23).


South Dakota

Under South Dakota's mechanics' lien law, the owner, owner's agent or representative, or someone entering into a direct agreement with the owner, may file a notice of project commencement with the county register of deeds, within 30 days of the start of the work (S.D. Codified Laws § 44-9-50).

Among other requirements, anyone filing a notice of project commencement must post a location notice at the job site, containing the following statement:

The contractor on this project has filed a notice of project commencement at the county courthouse. Any sub-subcontractor and any supplier to a subcontractor shall comply with the notice provisions of § 44-9-53 before filing liens in connection with this project (S.D. Codified Laws § 44-9-51).

The law specifies that the filing of a notice of project commencement does not constitute a cloud, lien, or encumbrance upon, or defect to, the title of the real property described in the notice. The filing also does not (1) alter the aggregate amount of liens allowable by law or (2) affect the priority of a mortgage or future advances under a mortgage (S.D. Codified Laws § 44-9-52).

When someone has filed a notice of project commencement, sub-subcontractors or suppliers to subcontractors (except for individual laborers with liens under $2,000) must provide a notice of furnishing to the contractor and owner before extending a lien as specified by law (S.D. Codified Laws § 44-9-53).

Utah

In Utah, a notice of commencement is required for construction work at government project sites. The contractor, owner, or owner-builder must file the notice in the state construction registry, within 15 days of the project's start. If the notice is not timely filed, certain provisions of the lien law do not apply (e.g., the requirement that certain subcontractors on government projects file a preliminary notice with the registry) (Utah Code Ann. § 38-1-31.5).

2011 legislation eliminated the requirement to file notices of commencement for private projects (H.B. 260).

BOOKKEEPING SERVICE FAQ

Posted on October 20, 2018 at 4:55 AM Comments comments (0)

What is the difference between a Bookkeeper and an Accountant?

Bookkeepers and Accountants both provide essential business services, and in some cases they work together. However, there are key differences between the roles of a Bookkeeper and an Accountant.

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A Bookkeeper is responsible for recording financial transactions, maintaining accurate records and providing reports or statements to managers.

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An Accountant interprets, analyses and reports on financial data, providing in depth insights to the business on financial matters.

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The roles and responsibilities of a Bookkeeper and Accountant may vary or overlap according to their level of experience and the size of the business.

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Daily tasks for a Bookkeeper?

The responsibilities of a Bookkeeper vary according to the size and nature of their employer, and may include:

 

  • Recording the financial transactions of a business in bookkeeping software (such as MYOB or QuickBooks), spreadsheets or databases.
  • Arranging payment of accounts.
  • Preparing and sending invoices and receipts to debtors.
  • Processing payroll and maintaining employee records.
  • Carrying out bank reconciliations.
  • Reporting for preparation of a Business Activity Statement (BAS).
  • Checking figures and reporting for accuracy.
  • Reporting any irregularities in data to management.
  • Producing balance sheets, income statements and other financial documents.
  • To learn about the skills, traits and qualifications you’ll need as a Bookkeeper, read our tips on how to become an Bookkeeper.


SUPERIOR COURT FEE SCHEDULE - FULTON COUNTY, ATLANTA, GEORGIA

Posted on October 12, 2018 at 7:15 AM Comments comments (0)

Fulton County Clerk of Superior Court Fees Schedule AS OF 10/12/2018 

O.C.G.A citations Fee(s) Each

First Additional

Document Name or Type Page Page/Party/Cross Ref.

Certified/Exemplified Copies 15-6-77(g) 4 $2.50 $0.50

Plain Copies (without assistance) 15-6-77(g) 2, HB1055 $0.50

Plain Copies, Clerk Assisted 15-6-77(g) 2 $1.00 $1.00

Computer generated copies 15-6-77(g) 4 $2.50 $2.50

Record Researches (Sheriff Dept.) $15/search

Individual Criminal Record Search (Sheriff Dept.) $2/search

Insufficient/Return Check Fee 16-9-20 $30 or 5%

Plats larger than legal size 8.5" x 14" $2.00 $2.00

Fax Fees 15-6-77(g) 2 $2.50 $1.00


Notary & Passport Services

Notary Commission/Renewal 15-21A-6, HB851 $42.00

Commission Renewal by Mail 15-21A-6, HB851 $47.00

Clerk's Notary Certificate 45-17-4 $2.00

Passport 22-USC-211a $25 + http://www.travel.state.gov/passport/fees/fees_837.html

Apostile 45-17-19 $3.00

Public Safety Check 15-6-77(g)(8) $3.00


Real Estate Services

Cross Referencing/per cross ref. on documents HB 1018, 15-6-77(o) $2.00 $2.00

Recording Deeds/Notices/ Bonds 44-14-35 $10.00 $2.00

Cancellation--Deed/Notice/Bonds 44-14-3 $10.00 $2.00

Assignment of Security Deed 44-14-64 $5.00

Assignment of Rent and Leases $10.00 $2.00

Blanket Assignment per deed assigned $5.00

Lien Recording/Cancellation 15-19-14 $5.00 $2.00

Lis Pendens $5.00 $2.00

Affidavits 44-2-2 $10.00 $2.00

Federal Tax liens/Release 15-19-14 $5.00 $2.00

Plats, Maps, Floor Plans 15-6-67 $9.00 $9.00

Amendment,. Partial Assignment, Release,(UCC3) $10.00 $2.00

Non Real Estate

Cross Referencing/per cross ref. on documents HB 1018 $2.00 $2.00

FIFA/Nulla Bona $5.50 $2.00

Cancellation or Release $5.00 $2.00

Hospital Lien/Cancellation 15-19-14 $5.00 $2.00

Limited/General Partnership/LLP 15-6-77(g)(16)HB851 $200.00

Trade Name/Cancellation/Amendment 15-6-77(g)(10) HB851 $162.00

Financing Statement (UCC1) $10.00 $2.00

Financing Statement (UCC1) with assignment $20.00 $2.00

Amendment,. Partial Assignment, Release,(UCC3) $10.00 $2.00


Court Costs

General Civil Action** 15-21A-6, HB851 $215.00 $8/party (15-6-77.2)

Adoption 15-21A-6, HB851 $215.00

Divorce 15-6-77.4, HB851 $220.00

County Tax Appeals 48-5-311(g)2 $25.00

Sheriff Service Fee 15-6-21(b), HB1055 $50.00

Sheriff Subpoena Service Fee HB 1055 $10.00

Civil Subpoena HB 1055 $5.00

Filing Motions/per motion 15-6-77.1(b)(3) $1.00

Writ of Fieri Facias (FIFA) 44-11-33 $11.50

Docket Summary Print out 15-6-77(g) 2 $1.00 $1.00

Criminal Div. Court cost (when assigned by Judge) Min. $100


Appeals

Appeals: Preparation of Appeal HB 41 $1/page

Appeals: Transcript Filing HB 41 $35/transcript

**State, Municipalities, counties, political subdivisions, or agencies are exempt from certain funding fees.

Effective 07/19/2017

COSC does not accept out of state personal checks.

Money orders, cashier's checks, certified funds, and business checks are accepted.

Credit Cards are now accepted with a minimum charge of $5.00.

Please do not mail cash.

Fulton County Clerk of Magistrate Court Fee Schedule

Each Additional

Document Name or Type Fee(s) Page


Miscellaneous Fees

Certified Copies $2.50 $0.50

Exemplied Copies $5.00 $0.50

Plain Copies $0.25 -

WRIT of Possession $20.00 -

https://www.crilegal.com/judgment-lien" target="_blank">Post Judgment Interrogatories $10.00 -

Service $25.00 -

Forclosure of Abandon Motor Vehicles (AMV) $10.00 -

Rush Fee (per document) $15.00 -

https://www.crilegal.com/private-investigator-service" target="_blank">Subpoena Service $10.00 -

Distress Warrants -

Distress Warrants $60.00 -

Marshal Service Fee $25.00 -

Each Additional Defendant $8.00 -

Dispossessory/Proceeding Against Tenant -

Dispossessory/Proceeding Against Tenant $60.00 -

Marshal Service Fee $25.00 -

Each Additional Defendant $8.00 -


Garnishment -

Garnishment $60.00 -

Marshal Service Fee (1st Service $13.00 -

Marshal Service Fee (Each Additional Service $6.00 -

Additional Garnishees(After Orig. Filing $25.00 -

Each Additional Party $8.00 -

Personal Property Foreclosures -

Personal Property Foreclosures $60.00 -

Marshal Service Fee (Per Defendant) $13.00 -

Each Additional Party $8.00 -


Small Claims Suits -

Small Claims Suits $60.00 -

Each Additional Defendant $8.00 -

Marshal Service Fee (Per Defendant) $25.00 -

Traverse -

Defendant $20.00 -

Plaintiff (per Garnishee) $20.00 -

Claimant (to become a party to the case) $28.00 $8.00

Criminal Filing -

Application for Criminal Arrest Warrant $20.00 -

Writ of Fieri Facias

Recording Fi-Fa. On GED, made payable to Clerk of Superior Court $5.50

The Fulton County Marshal website, provides service of the following:

Mechanic's Liens (per defendant) $25.00

Subpoenas $10.00

Orders $10.00

Interrogatories $10.00

Civil Arrest Orders $5.00

Backing Fee $5.00

https://www.crilegal.com/judgment-lien" target="_blank">Levy Fee $15.00

Nulla Bona $10.00

Recording Fee $5.50

Settling Fee $10.00

Bill of Sale $10.00

**Includes warrants for Child Abandonment, Criminal Arrest, Felony Bad Check

The Clerk's Office does not accept out of state personal checks.

Money Orders, cashier's checks, certified funds, and business checks are accepted.

Credit Cards are now accepted with a minimum charge of $5.00

Georgia State Lien 2018

Posted on October 5, 2018 at 1:00 AM Comments comments (0)

Georgia Liens

A lien is a legal claim to secure a debt and may encumber real or personal property. A state tax lien (also known as a state tax execution) is recorded with one or more Clerks of Superior Court to make it a matter of public record and to secure the debt. After a lien has become due and is in the collection process, the Department may file a lien without notice, at any time, if it is in the State's best interest.

Transfer of Ownership of Property

The Department’s liens attach to any property to which the named taxpayer is the owner of record. If ownership of the subject property changes, the Department’s lien remains attached until the lien is resolved. When there is a sale of the subject property, the lien attaches to the proportionate proceeds from the sale. If a taxpayer dies, the property becomes part of the taxpayer's estate and the lien remains attached to his or her share of the property. If the property has multiple owners, the lien may stay with the property, depending on the type of property estate.

Release of Liens or Cancellation of Liens

The Department will cancel a state tax lien when the delinquent tax liability has been resolved. The Department will mark an entry of satisfaction on the execution docket and cancel the lien with the Clerk of Superior Court in each county where the lien had been recorded.

Recorded liens are public information. Mortgage companies, financial institutions and taxpayers may obtain payoff information from the Department upon request. The Department does not require a power of attorney to be completed to receive such information.

Withdrawal of Liens

If the taxpayer believes that a lien was filed in error, the taxpayer may request a withdrawal of the tax lien. If the Department determines that the lien was filed in error, the lien will be withdrawn.

Release of Expired Liens

Expired liens (also known as statute-barred liens) do not attach to any property interest of the taxpayer whose name appears on the lien.

Removing liens from a credit bureau report

The Department has no control over the length of time that credit bureaus keep public information on a credit bureau report. To update your credit bureau report, you must contact the credit bureaus directly.

If the Department recorded a state tax lien against you in error, the Department will amend the lien by stating that it has been officially withdrawn. Please note that the Department cannot instruct a credit reporting agency to alter its records regarding this error because the Department does not report the recording of state tax liens to any such agencies.

Statute of Limitations and Liens

State tax liens must be filed within seven years of the assessment date of the tax liability if the assessment was issued before February 21, 2018. The Department has five years to file the lien if the assessment was issued on or after February 21, 2018. Once the Department files a lien, the Department has ten years from the date the lien was filed to collect the liability. This ten year period may be extended for specific reasons outlined in Georgia Code including but not limited to the taxpayer filing bankruptcy or entering into an Installment Payment Agreement with the Department. A tax lien may not be renewed.


---------------------------------------

GEORGIA REAL PROPERTY FILING INFORMATION

 

Warranty Deed -a deed in which granter warrants good clear title. A deed which explicitly contains covenants concerning the quality of title it conveys.

 

Quitclaim Deed - a deed of conveyance operating by way of release; that is, intended to pass any title, interest, or claim which the granter may have in the premises, but not professing that such title is valid, nor containing any warranty or covenants for title.

Foreclosure sale -A sale of mortgaged property to obtain satisfaction of the mortgage out of the proceeds, whether authorized by a decree of the court or by a power of sale contained in the mortgage. NOTE - In Georgia a security deed is foreclosed, no/ a mortgage and the document type recorded is a Deed Under Power sometimes called a Foreclosure Deed.

Security Deed- a written instrument that secures real property for payment of a loan, in some states a mortgage or a deed of trust is used for this purpose

Power of Attorney - An instrument in writing whereby one person, as principal, appoints another as his agent and confers authority to perform certain specified acts or kinds of acts on behalf of principal

Fi Fa - Fieri Facias (Latin) means that you "cause (it) to be clone" Judicial writ directing sheriff to satisfy a judgment from the debtor's property. NOTE-A Fifa is a lien against all real property owned by the debtor in the County where the Fi Fa is recorded.

Plat - A map of a specified land area such as a town, section or subdivision, showing the location and boundaries of individual parcels of land subdivided into lots, with streets, alleys, easements, ECT, usually drawn to a scale

Easement - A right of use over the property of another

Materialman's Lien - By statue in most states, a person who furnishes material for the construction, improvement, or altercation of a building or other structure has a priority for payment of his claim based on his lien as a supplier of such materials. NOTE: in Georgia, A claim of lien expires and is void 395 days from the date of filing of the claim of lien if no notice of commencement of lien action is filed in that period.


SEO TIPS & TRICKS

Posted on September 21, 2018 at 10:30 AM Comments comments (0)

SEO Tips and Tricks.

1 # : I observed one interesting thing in this 2014 that – even if it a smaller or larger site – We Can Rank (this is for small websites owners) ! Previously this is not the situation and small websites owners never tried big fearing bigger sites about their authority in Google. And I have seen seen so many positive results which I cannot share and this will be a good factor.


2 # : Please don’t go after backlinks : Better concentrate creating more quality content and dont waste too much in getting backlinks (either money or time).


3 # : STOP DOING guest posts to obtain links. Google already made several announcements about this.


4 # : TRY to engage the viewers (with commenting and feedback) and also make sure that you make PERFECT navigation in the site to make sure that users/visitors can navigate through the content without any complexity.


Here are some more essential things that one should follow to maintain the Rankings


#1 Have a Responsive Web Design

There has been a drastic growth in the use of smartphones and tablets, in the past few years. And most of those users prefer browsing the internet through those devices. Make sure that the content of your website is easily readable when viewed through all other devices like such; in short, improve your website’s responsive design. This is a very important factor that can affect your SEO since, if your website doesn’t provide a good user interface, the user will shift to something that does.


#2 Use Social Media

Publicizing your article on Social Media is a very important technique to, not only get more hits, but also to improve your SEO. Google Plus’s +1 carries around 0.37% of the weight-age of your page’s SEO. So, the better you reach out to people on Social media, the better it is for your website. Still there is lot of.


#3 Go with a Content Management System (CMS)

Use a proper content management system that offers various plugins. WordPress is one of the most used content management systems, nowadays. It not only provides you with amazing plugins, but will also help you frame your content and images in a way which will make it easier for Google bots to traverse. Although, using a CMS is not a must, it is highly advisable. Blogspot and Drupal are a couple of other famous CMS.


#4 Have a killer UX

Good User Experience (UX) can lead you to great results. See that the navigation from one page to another inside the site, is easy, even for a normal user to do. Also, see that the loading time of the website is minimal, not only on a PC, but also on other devices. Learn more about UX and make the most out of it.


#5 No need to Get a good Domain Name

I would say its just a factor and its not compulsory to make a domain name keyword related to your niche – because Branding is also an alternative for that. If you have one then its GOOD because I still see lot of niche sites ranking for the keywords and the search engine still recognizes it even after many panda and penguin updates. Still it is a DEBATE and its no harm if you have keyword in the domain !


#7 Keyword Analysis

Look for keywords that have low competition and high search volume. This will help you write articles using such words as the keywords and gain more users. Google Keyword Planner is a free SEO tool that will help you find such words. Instead of using a single word, it is advised to use key phrases. And also, make sure that you know how to use a keyword in the context. However, the most important of things is to produce good quality content that your readers would connect to.


#8 Link Building

See that you first build proper inter links among the pages of your website so that it gets easier for the user to navigate. It is fine to use keyword in the links but make sure that you link it only to a relevant page on your website. This can help you improve the rank of other webpages in your website.


Always use relevant, high quality links that go out of your website. This builds a trust to Google that what you are referring to is important and useful. And this might eventually push your website to higher position in the search results. And, keep away from bad and low quality links. Then again, there are few tiny basic mistakes that newbies tend to do.


Things that one should NOT do for SEO

#1 Stuffing content with keywords.

This was an old trick and is lethal, if you do it now. See that they keyword density is in between 10-15%of your content and not more than it. And also, include they keyword only if it naturally goes with the sentence. Do not stuff them everywhere you like because that will only pull you down and down and down. 

#2 Stealing content.

This is the worst possible thing one can do. We write to share our views to our readers and not do a Ctrl+C and Ctrl+V. Although most don’t do this, some get misguided into the trap.

#3 Building unnatural links.

You must’ve heard that the more the number of links, the better it is. And someone might have even suggested you to get links from automated bots. No! Do not blindly build links bearing an impression that it will get your page higher in the list. The opposite, exactly, will happen.

#4 Writing large amounts of useless content.

Although content is the king, it doesn’t mean that you write more and more useless, irrelevant content just to increase the number of blog posts. Remember, the lower the quality of content, the lower will be the rank of the page. Write content that is useful and relevant to the topic.

Stealing content also includes the “rewriting articles” and Google is smart in identifying the stuff even if copyscape.com misses it ! Know about the Google panda which takes care of spam and useless content. Useful I mean = New and Unique content.

These are few important tips to follow and to not follow in 2018, to make the best of your SEO. Hope these will help you with your website.

SEO TIPS

Posted on September 21, 2018 at 10:25 AM Comments comments (1)
SEO Tips and Tricks.
1 # : I observed one interesting thing in 2014 that – even if it a smaller or larger site – We Can Rank (this is for small websites owners �� ) ! Previously this is not the situation and small websites owners never tried big fearing bigger sites about their authority in Google. And I have seen seen so many positive results which I cannot share and this will be a good factor.
2 # : Please don’t go after backlinks : Better concentrate creating more quality content and dont waste too much in getting backlinks (either money or time).
3 # : STOP DOING guest posts to obtain links. Google already made several announcements about this.
4 # : TRY to engage the viewers (with commenting and feedback) and also make sure that you make PERFECT navigation in the site to make sure that users/visitors can navigate through the content without any complexity.
Here are some more essential things that one should follow to maintain the Rankings
#1 Have a Responsive Web Design
There has been a drastic growth in the use of smartphones and tablets, in the past few years. And most of those users prefer browsing the internet through those devices. Make sure that the content of your website is easily readable when viewed through all other devices like such; in short, improve your website’s responsive design. This is a very important factor that can affect your SEO since, if your website doesn’t provide a good user interface, the user will shift to something that does.
#2 Use Social Media
Publicizing your article on Social Media is a very important technique to, not only get more hits, but also to improve your SEO. Google Plus’s +1 carries around 0.37% of the weight-age of your page’s SEO. So, the better you reach out to people on Social media, the better it is for your website. Still there is lot of.
#3 Go with a Content Management System (CMS)
Use a proper content management system that offers various plugins. WordPress is one of the most used content management systems, nowadays. It not only provides you with amazing plugins, but will also help you frame your content and images in a way which will make it easier for Google bots to traverse. Although, using a CMS is not a must, it is highly advisable. Blogspot and Drupal are a couple of other famous CMS.
#4 Have a killer UX
Good User Experience (UX) can lead you to great results. See that the navigation from one page to another inside the site, is easy, even for a normal user to do. Also, see that the loading time of the website is minimal, not only on a PC, but also on other devices. Learn more about UX and make the most out of it.
#5 No need to Get a good Domain Name
I would say its just a factor and its not compulsory to make a domain name keyword related to your niche – because Branding is also an alternative for that. If you have one then its GOOD because I still see lot of niche sites ranking for the keywords and the search engine still recognizes it even after many panda and penguin updates. Still it is a DEBATE and its no harm if you have keyword in the domain !
#7 Keyword Analysis
Look for keywords that have low competition and high search volume. This will help you write articles using such words as the keywords and gain more users. Google Keyword Planner is a free SEO tool that will help you find such words. Instead of using a single word, it is advised to use key phrases. And also, make sure that you know how to use a keyword in the context. However, the most important of things is to produce good quality content that your readers would connect to.
#8 Link Building
See that you first build proper inter links among the pages of your website so that it gets easier for the user to navigate. It is fine to use keyword in the links but make sure that you link it only to a relevant page on your website. This can help you improve the rank of other webpages in your website.
Always use relevant, high quality links that go out of your website. This builds a trust to Google that what you are referring to is important and useful. And this might eventually push your website to higher position in the search results. And, keep away from bad and low quality links. Then again, there are few tiny basic mistakes that newbies tend to do.
Things that one should NOT do for SEO
#1 Stuffing content with keywords.
This was an old trick and is lethal, if you do it now. See that they keyword density is in between 10-15%of your content and not more than it. And also, include they keyword only if it naturally goes with the sentence. Do not stuff them everywhere you like because that will only pull you down and down and down.
#2 Stealing content.
This is the worst possible thing one can do. We write to share our views to our readers and not do a Ctrl+C and Ctrl+V. Although most don’t do this, some get misguided into the trap.
#3 Building unnatural links.
You must’ve heard that the more the number of links, the better it is. And someone might have even suggested you to get links from automated bots. No! Do not blindly build links bearing an impression that it will get your page higher in the list. The opposite, exactly, will happen.
#4  Writing large amounts of useless content.
Although content is the king, it doesn’t mean that you write more and more useless, irrelevant content just to increase the number of blog posts. Remember, the lower the quality of content, the lower will be the rank of the page. Write content that is useful and relevant to the topic.
Stealing content also includes the “rewriting articles” and Google is smart in identifying the stuff even if copyscape.com misses it ! Know about the Google panda which takes care of spam and useless content. Useful I mean = New and Unique content.
These are few important tips to follow and to not follow in 2018, to make the best of your SEO. Hope these will help you with your website.

Marketing Tips for MErchandising Websites

Posted on September 21, 2018 at 4:55 AM Comments comments (1)

SERVICES WE PROUDLY OFFER FOR THE BEST QUALITY BUT YET BETTER PRICES THAN ANYONE!

 

We Do A lot of Different Things at CriLegal.com and some of those things are never known by the people whom visit our site or speak with our staff; so we would like to share some of the best kept secrets in our breadth of business and legal services worldwide. 

Due to the Emense Reach of our Services We Are Required to Divide the Services into Sub Catagories

Business Consulting - Innovative - Creativity - I.T. Misc. - Marketing - Services 



Data - Skiptracing - Research - I.T. Misc. Services - Investigations - MarketingBusiness Consulting




THIS BLOG ENTRY IS STILL UNDER CONSTRUCTION PLEASE BEAR WITH US AS WE WORK ON CLIENT PROJECTS OR TAKE A BREAK. WILL BE COMPLETED ASAP!!! 


Marketing Terminology and Definitions

Posted on September 17, 2018 at 3:00 AM Comments comments (0)


Hosting with #Crilegal

Posted on September 16, 2018 at 5:15 AM Comments comments (0)

HOSTING CONTENT Why Should You Use CRIlegal Shared Hosting? Our Guaranteed Top Quality Ground Breaking Hosting Guarantee is the standard in high quality everyone has come to expect from CRILEGAL.com, and encompasses our commitment to provide you with hosting excellence. If we fail to meet our 100% uptime SLA, we will promptly issue your account credit. Read our guarantee in full cPanel and WordPress included cPanel, #1 control panel worldwide, provided free of charge standard with all of our shared hosting packages, giving you total control of your website via your chosen browser. Deploy WordPress or your app of choice in mere seconds with Softaculous app installer, which also makes updates and maintaining your open source applications simple and without worry. Free SSL certificates included SSL certificates are now required, but not to worry, we always have your back. We are giving our hosting customers as many as 40 free Positive SSL certificates for one year. Check out our blog posts for more details → Recent Dell server technology. The shared infrastructure M1000 Blade. Every component is smart and fully redundant including power supply to network card, all the way to the high-speed SAN delivering the most exclusive and unparalleled uptime, performance and reliability. The result? 100% uptime, every month. With Easy to use Website Builder included simple to understand intuitive tools to build your presence online or you may have one of our expert site builders create your site for you. Designed as a drag and drop, choose from vast selections of templates, all-in-one e-commerce solutions, and a variety of plug-ins, or take the custom approach. Learn More about Website Builder → Real people to help you 24/7 We pride ourselves on our customer service. Our support team works around the clock, and is available via Live Chat, our Helpdesk can assist you with your hosting service, whenever you may need it. 1. Explore New TLDs → 2. Domain Names for Sale → 3. Domain Whois Lookup → 4. Transfer Domain from Godaddy → 5. Transfer Domain from 1&1

Business Credit Education

Posted on September 12, 2018 at 6:40 PM Comments comments (0)

MORE B2B CREDIT INFO AND REFERENCES


WHO IS D&B AND WHY DO THEY MATTER?  BECAUSE THEY ARE THE AUTHORITY ON BUSINESS CRED FOR B2B CORPORATIONS. 


Manage credit risk, monitor your customer portfolio, and make confident credit

decisions with Dun & Bradstreet’s modern risk management solution.

To learn more about D&B Credit, please contact your Dun & Bradstreet Relationship

Manager or call (877) 727-0664.

D&B Credit is Dun & Bradstreet’s flagship risk management offering. With a user-friendly, intuitive interface, this cloud-based

solution – fueled by D&B’s industry-leading data and analytics – provides intelligent risk assessment to modern credit teams. With

powerful segmentation tools, personalized alerts, and configurable credit reports, you’ll be more efficient and better able to drive

profitable growth by helping to build valuable relationships - with customers, partners, and colleagues.

D&B Credit’s comprehensive business information is critical to

any company’s credit-decisioning process. Anchored by the Dun

& Bradstreet D-U-N-S® Number, D&B Credit’s streamlined

digital reports provide in-depth intelligence to give you a clear

view of your potential partner’s financial situation and the exact

credit risk they pose.

View D&B’s unrivalled predictive and performance-based credit

scores and analytics, as well as trade payment data, legal events,

corporate family trees, and other third-party web and social

information. Credit reports and dashboards are configurable,

so you can easily view the information that’s most important to

you. With D&B Credit, you’ll be able to make confident credit

decisions using the world’s largest commercial database.

WHEN YOU NEED TO

MAKE CONFIDENT CREDIT

DECISIONS

D&B Credit helps you understand total risk and identify growth

opportunities in your accounts portfolio. Its easy-to-understand

graphics provide a clear and customizable view of your credit

customer segments by the type of risk, to spot easily who might

pay slowly or default altogether. Drill down for more insight

with one click, and use your customized dashboards for easy

visual reporting. Segment your portfolio by tagging accounts

and configuring unlimited alert profiles for more effective

account portfolio monitoring and management.

D&B Credit is ideally suited for companies with both domestic

and international operations. It supports seven languages and

16 major currencies. Credit reports are available on companies

in more than 200 countries and territories, and Country Insight

Reports provide a detailed analysis of the underlying risks and

opportunities in a specific market. In addition, D&B Credit

captures your work and saves historical records, which is

necessary for many corporate governance and compliance policies.

Altogether, D&B Credit provides unlimited data refreshes,

alerts, and monitoring and portfolio analytics capabilities for

18 countries (and more countries to come): Andorra, Austria,

Belgium, Canada, France, Germany, Ireland, Italy, Lichtenstein,

Luxembourg, Monaco, Netherlands, Portugal, San Marino,

Spain, Switzerland, United Kingdom, and the US.

WHEN YOU NEED MORE

EFFICIENT ACCOUNT

MANAGEMENT

WHEN YOU NEED GLOBAL

RISK INSIGHT

D&B Credit

D&B Credit helps you

understand total risk and

identify growth opportunities

in your accounts portfolio.


Dun & Bradstreet (NYSE: DNB) grows the most valuable relationships in business. By uncovering truth and meaning from data, we connect our customers with the prospects,

suppliers, clients and partners that matter most, and have since 1841. Nearly ninety percent of the Fortune 500, and companies of every size around the world, rely on our data,

insights and analytics. For more about Dun & Bradstreet, visit DNB.com. Twitter: @DnBUS

© Dun & Bradstreet, Inc. 2018. All rights reserved. (12/20/2017)

Commercial Credit/Understand Business Credit

Posted on September 11, 2018 at 12:25 AM Comments comments (0)

#CRILEGAL THIS WORK I DO, DAY AFTER DAY, IS FOR MY GOD, AND HIS BELOVED DAUGHTER ON HER BIRTHDAY! I LOVE YOU SASHA AND LANDON!

8)    Understand Business Credit    8)



What Scores are Included in a D&B Credit Business Credit Report?

Dun & Bradstreet’s comprehensive credit reports, accessed through D&B Credit, are uniquely suited to help you assess not only a business's current state, but also its future outlook. The reports include several types of predictive (future) and performance-based (historical) scores, including the D&B Viability Rating, the D&B PAYDEX, and the D&B Failure Score. They’re based on predictive modeling analysis and take into account the full range of data that Dun & Bradstreet has available on a business, including past payment patterns, public filings and financial information. Reports also contain financial statements, trade payment data, legal events, corporate family trees, and other third-party web and social information.


What is a Commercial Credit Score?

Unlike consumer credit, there’s no one single credit score in commercial credit. Dun & Bradstreet provides multiple types of scores to help companies assess business credit risk on their customers, vendors, and partners. In Dun & Bradstreet’s DNBi platform, the Commercial Credit Score (CCS) predicts the likelihood of a business paying its bills in a severely delinquent manner (91 days or more past terms), obtaining legal relief from its creditors or ceasing operations without paying all creditors in full over the next 12 months. This score is known as the Delinquency Score in the new D&B Credit platform. The score ranges from 1 to 100, with higher scores indicating a lower probability of delinquency.

 

What is a Delinquency Predictor Risk Class?

A Delinquency Predictor Risk Class is a segmentation of the scorable universe into five distinct categories - low, low-moderate, moderate, moderate-high, or high – to classify whether businesses have the lowest probability of delinquency or the highest probability of delinquency. This Class enables a customer to quickly segment their new and existing accounts into various risk segments to determine appropriate credit policies. Note: Delinquency Predictors are not calculated for those businesses designated as Discontinued at This Location, Open Bankruptcy, or Higher Risk. These records are automatically assigned a score of zero (0).


How is severe delinquency defined?

A severely delinquent firm is defined as a business with at least 10% of its weighted dollars 91+ days slow. Dollars are weighted based on total balance of 91+ accounts compared to total balance owed.


What does a Delinquency Score of "Zero" mean?

Delinquency scores are not calculated for those businesses designated as "Discontinued at This Location," "Open Bankruptcy", "Higher Risk." These records are automatically assigned a score of zero (0).


What is the Failure Score and What Does it Mean?

D&B's Failure Score in D&B Credit is designed to help you predict the likelihood that a company will obtain legal relief from creditors or cease operations without paying all creditors in full over the next 12 months. The score uses the full range of Dun & Bradstreet information, including financials, comparative financial ratios, payment trends, public filings, demographic data and more.


Dun & Bradstreet defines a failed or financially stressed company as one that:


Ceased operations following assignment or bankruptcy

Ceased operations with loss to creditors

Voluntarily withdrew from business operation leaving unpaid obligations

Is in receivership, reorganization, or has made an arrangement for the benefit of creditors.

Voluntary discontinuance involving no loss to creditors is not defined as financially stressed.


The risk information for the Failure Score in D&B Credit is classified in two ways, from the broadest (the class) to the most specific (the numerical score.) The classifications are:


1. A "Percentile" of 1 - 100, where a 1 represents businesses that have the highest probability of financial stress, and a 100 which represents businesses with the lowest probability of financial stress. This Percentile shows you where a company falls among businesses in the D&B information base, and is most effectively used to rank order a portfolio from highest to lowest risk of business failure.


2. A level of risk "Class" which is a segmentation of the scorable universe into five distinct risk categories - low, low-moderate, moderate, moderate-high, or high – to classify whether businesses have the lowest probability of financial stress or the highest probability of financial stress. This Class enables you to quickly segment new and existing accounts into risk groupings to determine appropriate credit policies.


What does a Failure Score of "Zero" mean?

Failure Scores are not calculated for those businesses designated as "Discontinued at This Location," "Open Bankruptcy" or "Higher Risk." These records are automatically assigned a score of zero (0).


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