Essays on Credit Score

Significance of Accounts Receivable Practice

The most primary element for the success of a business is the way in which the systems of accounts receivable management, collections and billing are maintained. Often, this type of management collectively is known as the system of collections management. The main key to the success of this system is to manage it diligently. It is because having large amount of customers is not enough to run a successful business; revenue needs to be collected from these customers (Clarke, 2016). There are a number of reasons for a business setting up the accounts receivable in a given organization. When ...

Savings defines the part of income which is not spent. Savings which is economic variable defines quantifies a person’s physical quality of life and standards of living. Proper banking is effective to improve one’s standards of living. It is the obligations of banks to become creative and create an efficient banking environment in the financial market. Implementing saving habits during the earlier days assist a person and family to attain a more stable life than a person who has no savings (Cummings 2). Embracing norms of saving money is a mode of safeguarding one from protecting someone ...

Quinton Hariis and Till

New York

Brief summary of the presentation

The presenters introduced a topic on credit management. The lending and borrowing of funds is guided by given set of rules and standards relating to the type of credit under discussion. The credit managers have to determine the credit score, which measures the credit worthiness of the prospective borrower. The terms and conditions controlling the issue of credit funds is set by the credit department of the organization or institution offering the loan or credit funds. The credit score is the analysis of the past credit records of the borrower relating to normal ...

Brief Summary of the Presentation

The title of the presentation was “What Every College Should Know about Credit Scores but No One will tell them.” The main resource persons were Quinton Harris and Tim Gill who were both Area Managers for the Bank of England and Daniel Halverson who is a credit manager. A credit score is a benchmark for a creditor for determining whether a person is worthy of credit. A credit score also shows a person’s ability to manage finances and meet obligations. The presentation highlighted the importance of having a good credit score to gain trust from employers, creditors, business partners and other interested parties.

Leadership Skill, Traits and Abilities Identified

The ...

Credit cards, Debit Cards and Credit score

Credit Cards Credit cards (usually plastic) assures a seller that the person using it has a satisfactory credit rating and that the issuer will see to it that the seller receives payment for the merchandise delivered. These are used to make payment in retail shops or stores present online. Credit cards are usually issued by banks or other entities approved by government. VISA and MasterCard are two prominent examples of bank-issued general purpose credit cards. On the other hand, many nonbank companies can also issue credit cards such as Discover, American Express, and Diners Club. Credit cards have many advantages ...

Wells Fargo & Co. is one of the largest mortgage lenders in the nation. The company plans to ease the rules on mortgages. One of the main rules that the company will adjust is to lower the credit score for mortgages that are eligible for government support. This is a clear indication that the standards related to mortgage-lending will ease. Franklin Codel asserts that the bank will purchase loans that have Federal Housing Administration backing with credit score of 600. The main aim of this adjustment is to increase the level of credit (Timiraos “Well Fargo Plans to ease Some Rules ...

All Aspects of Life

Budgeting is a word most often heard referring to maintaining a healthy balance between paying bills and purchasing necessities and spending money on things not necessarily needed to survive. Financially speaking, most people make out a budget either in their heads or on paper that lists out the bills they need to pay in order to maintain their current lifestyle, such as rent, heat, car payment, insurance, credit cards, etc. And then there are percentages of income factored into savings and another percentage as frivolous cash; money to spend as extra perks in one’s day. Maintaining a healthy budget is the effect ...

In the recent past, Egypt has faced a myriad of economic challenges, ranging from an economic degradation to the popular uprising in 2011 that led to the establishment of new successive regimes. Apart from the political problems, Egyptians are now faced with personal problems that may in the long-run interfere with its social fabric (Bohn). The marriage institution has adversely suffered as a result of all these turmoil. Since the 1990s to the late 2000s, the average cost of an Egyptian wedding rose by 25%, and it is estimated that the cost will still continue to increase as time goes. ...

1. Chapter 7 bankruptcy is also referred to as “straight” or liquidation bankruptcy. It is the quickest and indeed the simplest form of bankruptcy. Chapter 7 bankruptcy can only be filed by several classes of individuals, in the society. However, before anyone qualifies to file for this class of bankruptcy, the latter must go through a “means test”. The “means test” involves an examination of one’s expenses and income to establish their comparison to the standard that the IRS has set in their particular areas (Frey & Swinson, 2012). A person who can file for Chapter 7 bankruptcy, for ...

What is the problem?

At present, the majority of residents of Ohio State, let it be an individual, a student, etc. are burdened with debt. The poor debt scenario of the Ohio State came into scene when during 2005, the bankruptcy rate went double to the rest of United States. However, as per the data published by a website, although Ohioans carry less debt burden that the residents of other states, however, still the level of debt is high. Important to note that although the state’s residents carry less mortgage burden but the credit card and student loan amount has reached an alarming stage.

Significance of the problem?

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Introduction

Information and communication technology (ICT) refers to the act of accessing and gathering of information. The main mode of accessing data and information is internet. Internet being an open and public platform, some privacy and security concerns related to ICT exist. For example, almost everyone knows now that tracking cookies constantly collect data regarding the browsing habits of the online users and based on the information jam their inbox with spams. This tracking data is also sold to many marketing agencies which use that data to feed users with advertisements and product information. These information and spams are most ...

Introduction

The data presented in this project is from the Lendingclub.com (n.d). The data in the website is a wide representation of information concerning loan data collected from members from 2007 to 2012. The period in which this data was collected is synonymous with the financial crisis in the global market. The impact of the financial crisis was far reaching. It affected the lending rates and the approval criteria for loans. Previously, the fiscal policy involved in lending loans by financial institutions cushioned the borrowers. This is because the loans fetched low interest rates and were consequently easy to repay. After ...

The Pitfalls in Borrowing Money

A. The dangers or risks of borrowing money B. Background of borrowing/ responsibilities of borrower C. Thesis Statement: Borrowing money creates a profile of financially-at-risk individuals that shall be dependent on the characteristic of the borrower, who may the tendency to mismanage and misuse their credit cards. II. Counter-Arguments - There are advantages and disadvantages in borrowing money through loans and credit cards. - The financial problems of the borrower are easily resolved by seeking financial assistance from loans and credit cards for payment of mortgage, car loans, student loans and other emergency needs. ...

Section-1

Description of the Business

Likewise the physical development is essential for a company, mental health and mental development is also extremely essential and it is one of those provisions from which a positive impact over the mentality would have been analyzed. By considering the importance of physical and mental development of children, we have started a new business for the similar sake. The name of our business is “The Keys to Children Success”. It is basically an educational institute for the children and we will give information and knowledge to them regarding different ways and phases of life.

Owners and Credentials

The ownership of ...

Presentation Summary on High Performance Teams held on March 12, 2012

Brief Summary of the Presentation The presentation was on high performance teams focusing on importance and cooperation of teamwork that leads to good results. Amongst the speakers was Bahati Van Pelt the manager of an NFL team, Jacksonville Jaguars, who is deemed an expert in the area because his work entails cultivating team work among players. He stated that a high performing team is one that achieves the team’s objectives and goals through coordinated efforts of team members. His mastery of leadership skills was notable during the presentation. He is a good communicator who not only understood and ...

Presentation

Presentation on Understanding Your Credit Score

During the workshop we had a lot of presenters, Quinton Harris was among them. He talked about who controls credit score and what it is. Harris also spoke about credit score, what it is; its importance/ he also discussed loans, mortgage and students loan s and what enhances one to take up credit. We put up some credit then get some small amount of debit against the credit. He also spoke about how to get our credit score, types of credit reports and the effects of paying our loans late. He then further talked ...

Credit Card: Positives and Negatives

A plastic card that is provided by the banks to the consumers to use any services or purchase any goods on credit is known as the credit card. The card holder must pay the credit card bills in every billing cycle if the card is utilized for any purchase, or the banks levy a high interest on the amount due. Almost all banks or financial institutions provide credit cards. Every credit card holder has a line of limit allocated on the credit card and the total limit cannot be utilized as some amount is reserved to be withdrawn in the form ...

What People Should Konw About

Credit cards are probably the best type of convenience that the financial world had offered to the people. It is most often regarded as the most valuable plastic material on earth because of its power to get anyone anything within the purchasing capacity of the credit card they own. However, credit card is not always as fantastic as they seem. There are certain things that people don't know about underneath the irresistibly high credit limits and zero interest rate offers. The fine prints at the back of every application forms are often neglected and people doesn't take the time ...

Medical Office Operations

Medical offices are established solely to assist people suffering from different illnesses. These individuals are patients that medical officers attend to in an attempt to treat them. Medical offices are also regarded as places of business that generate income in order to maintain their operation. In this situation, it means that medical officers have to charge patients for services they offer to them. Based on this consideration, medical officers undertake dissimilar kinds of income generating activities that need to be reviewed.

Medical officers handle billable revenue and collection, both of which bear distinctive meanings. Billable revenue is used to ...

Workshop Summary

Making decisions on the financial health is very crucial; this is because financial strength and proper understanding of credit score will flourish most aspects of human life. Three individuals, whereby they elaborated on various aspects of credit score, credit controls, student loans, mortgages, as well as securities, carried out the presentation. Each of the three presenters had worked for different years. Credit scores as per the presenters refer to the numerical expressions that represent the creditworthiness of an individual, which is based on statistical analysis of credit files of a person. Primarily, a credit score is based on information found in ...

It is crucial to comprehend various aspects of credit card, loan, and banks. This is so because it determines the credit worthiness and informs individuals on how to earn more benefits. The three individuals from the bank gave as a lot of information pertaining credit score, credit controls, positive and negative effects of credit loan, student loans, and tips on credit card security. The speakers during the workshop had worked for different years in their entire career. The first on had worked for ten years, the second also has been in the field for approximately ten years, while the third ...

Report on Understanding Your Credit Score

Understanding various issues pertaining credit score is very crucial. Certainly, the workshop focused mainly on understanding individual credit score. The main speaker during the workshop was Mr. Quinton Harris, who came from the Bank of England. Additionally, individual who had worked for different no of years, implying their personal experience in the field, gave the presentation. The first individual has been working for ten years, the second as also worked for approximately ten years, and the third person worked only for a year. Therefore, their presentations were focused on answering various questions, which included the meaning of credit score, bureaus ...

Workshop Summary

This workshop was aimed at informing and educating students on credit score. The unstructured provided the students with a definition of credit score and from his definition and we found that credit score is a measure of the credit risk of an individual, and is calculated from credit report through the use of a standardized formula (Johnson, 2011). The essence of the workshop was to inform the students of the risks involved in lending money. Large lending institutions undergo some level of risks when lending money to consumers to financing cars, buying homes and financing college education. In order to minimize these ...

Workshop Summary

Arguably, it is very crucial to understand various aspects of your credit score. The workshop focused on various issues pertaining credit score. Three individuals, who have worked for different years, did the presentation. The first has worked for ten years, the second has also worked for approximately ten years, and the third individual just worked for one year. Various aspects discussed in the workshop included the meaning of credit score, reports from the bureaus, as well as the control of credit. There are various determinants of credit score, which include payment history, recent delinquent payments, as well as credit ...

This paper highlights the purposes of carrying out credit reporting by business owners. Basically, the main objective of the paper is to give an insight into the influence of credit reporting and the effect it has when applying for a mortgage. The paper explores the underlying benefits of credit reporting and how it determines the admissibility of mortgage acquisition. For ease of understanding, presentation begins with illustrating the meaning of credit reporting. Credit reporting is understood simply as a detailed report of an organization’s credit history. It is a summary of an organization’s financial history usually prepared by established ...

Risk is inherent in all characteristics of a commercial procedure; equally, for banks and financial organizations, credit risk is a necessary issue that requires handling. Credit risk is the likelihood that a borrower will fall short in meeting his or her responsibilities in conformity with contracted terms. Credit risk, consequently, occurs from the bank’s transactions with or loaning to business, persons, and other financial establishments. This area of credit evaluation and measurement is enormous and every new account fronts new tests. When an application is obtain, what does a financier searches for in it? Answer to this is not merely comprehensive but ...