How to Set up a Business Entity to Obtain Corporate Credit

By Susan Carter

As you begin a new business venture, you have an important decision to make right at the beginning of your venture. Now you probably have already decided what kind of business - and even the name, but the entity structure is the most important. You need to know what type will be the easiest and most valuable for your company. Have you heard the words LLC, C-Corp, and S-Corp? If you answered yes, but dont really understand what they are, then read on.

There are many business structures you can use when you are setting up a new company. They each come with different benefits as well as liabilities. Here's a breakdown of the most common:

1. What is a Sole Proprietorship? This is a one-person show where the individual person running the business keeps all the profits. However, they also carry all the responsibility and liability. This is definitely the least desirable form of business structure due to the huge personal risk thats involved for the individual business owner. 2. What is a Partnership? In this structure, two or more people are the owners. They usually put similar amounts of money and/or time into the business and are all responsible for running it. They also incur the debt for the business and can be held personally liable if it were to fail or be sued for the debts. 3. What is a Limited Partnership? In a limited partnership there are at least two partners involved, but they dont necessarily have the same level of responsibility - or authority. One or more of the partners will take part in decision making and the others are silent partners. 4. What is a Limited Liability Company (LLC)? This is the best and most flexible business structure and one of the easiest to set up. Its a good entity for both small and large businesses. It provides personal asset protection and offers an easy format for distribution of profits and losses. With this entity structure the liabilities of the company are only taken from business assets, not the personal assets of those who own the LLC. 5. What is a C-Corporation? There are two ways to file as a corporation: C-Corporation or S-Corporation. The C-Corp is the most structured, and rigid form and the business profits are taxed at both the corporate level and the stockholder level. In this entity, there is no limit to the number of stockholders. This structure is taxed as a separate entity, unlike the S-Corp. 6. What is an S-Corp? This is also a corporation, but its limited by the number of stockholders, which is a maximum of 75. One of the advantages of this type of business structure is that the profits are not double taxed like they are in a C-Corp. This structure is a flow through entity. This means the profits or losses flow through to the individual personal tax returns of the stockholders and are taxed on the individual tax returns.

Financial institutions generally view the LLC and corporation structures as higher rated business entities. By choosing one of these structures for your business, you are presenting a more professional image to the financial institutions and they are more likely to offer business credit and trade credit to the business.

About the Author:

Learn more about setting up your business structure correctly and learn the pros and cons of each kind of entity. Learn how to present your company as an established business so that you can get lines of credit from lending institutions and obtain vendor credit without risking your personal FICO scores.

Timeshare Relief " The One and Only Way

By Bobby Kip Hernandez II

Given the current situation with regards to the global economy, selling a timeshare is no easy task. If you are a timeshare owner looking for timeshare relief, you are certainly not alone. Admittedly, under more favorable conditions one may have more viable options but in the current climate, these options have been drastically reduced. Therefore, if you are serious, your best bet is to go for a solution which has the highest chance of success.

Timeshare relief can sometimes be near impossible when trying to go it alone. On the other hand, agents in general simply do not live up to their promises. Unfortunately, many charities are turning down offers of timeshare donations because they do not want to become tied down with the associated maintenance fees. Given the bleak prospects of charities being able to sell under the current financial situation, these fees cannot be tolerated.

To make matters even worse, there is an increasing number of developers who are being less than tactful by renting out their timeshare properties for less than the average owner is paying in annual maintenance. It's hardly surprising then that so many owners are feeling abused, considering that they are now faced with having to compete with the resort itself to rent their timeshare. Furthermore, when one considers that rentals are now significantly cheaper than buying, there is essentially no incentive for prospective owners to purchase.

With the economy as it is, the vast majority of people simply cannot afford to splash money out on such luxuries, meaning that the competition to find buyers is fierce. The current urgency to seek timeshare relief is certainly not confined to your local area or to any other specific region. Rather, every timeshare owner faces this problem, irrespective of their particular timeshare resort. So long as you don't have anything which sets you apart from the next person, selling your timeshare is not going to happen.

So if listing your timeshare doesn't work, donating it doesn't work, and you can't even rent it, what's left? There is hope. Find a good timeshare transfer company that will take it off your hands! These companies will save you time and money by transferring your timeshare out of your name for a fee. Once you start the transaction, top transfer companies guarantee the transaction.

Clinging onto a timeshare you do not use is pointless and serves no purpose other than costing you money. Conversely, getting rid of an unused timeshare has many long term financial benefits. Additionally, you will no longer carry the stress and worry which may have a negative effect on your health. If you are in a similar situation, save yourself a lot of trouble and find a reputable timeshare company as soon as possible.

About the Author:

Work with the best, most proven and reputable timeshare transfer title company in the industry, Timeshare Relief. Find out how over 20,000 other distressed owners solved their timeshare dilemmas. Go to www.timesharerelief.com or call 800-588-1582, and request a free consultation.

Home equity line for real estate investing?

By Doc Schmyz

We all know by now that home owners have a hidden savings account...its called HOME EQUITY.

Equity is the value of your home minus the remaining mortgage balance which is outstanding. While you live, eat and sleep in your home worrying about debts or wishing you could refurnish the living room you may be sitting on the cash that will grant your wishes.

Would You Want an Equity Line of Credit?

With a typical loan, which deposits a set amount of money in your account and begins charging you interest and payments at a fixed rate until repaid, a line of credit acts sort of like a credit card account. You do not need to pay interest on the full amount you have access to -- only on the amount you have used.

Using an equity line of credit (also known as a HELOC) gives you greater flexibility with the least cost. Not only can you access the credit only as you need it,your monthly payments will reflect only the balanced used. Some lines of credit have only the interest as the minimum payment which can be helpful when finances are tight.

An equity line of credit is great when you don't have a large fixed amount to spend in one place that will take many years to repay and you want access to the credit without asking for a new loan when you have paid it back.

Do I have limits on what I can use the loan for???

We can all find lots of uses for a line of credit loan...but here are some of the most common examples.

Consolidate Debts

Consolidate or wipe out some of your other bills/debts completely. Not only does this make your monthly breathing room a bit wider...but in the long run it will help your credit score and interest rates that are offered to you on other loans as well.

Second mortgage

Use your line of credit to pay off the existing mortgage for better interest rates.

Add too, remodel, or travel.

Go on a vacation, re-do a room, or buy a car...all with a interest rate that is far lower then most credit cards. This fact alone makes it ideal for large cost purchases.

When Should You NOT Use a Line of Credit?

While the before mentioned information sounds great...whats the rest of the it look like.

In some cases you can't use a HELOC to repay certain loan types. some types of student loans, small business loans, etc. You need to review the "target debt" you wish to use it on before taking out the equity line of credit.

Other items like cars and vacations may seem like a good idea to buy with your home equity line of credit, but with the ability to pay only the interest you may find the motivation to pay off the debt is lacking and end up owing for items that have lost their value or were consumable. Plan to pay off the debt quickly for the most advantage.

A Second mortgage may not be a good idea depending on interest rates and your repayment terms. While lines of credit take advantage of current low interest rates you may find that your regular loans protect you better from fluctuating rates if you will not be paying the loan down in the next few years.

Using your finances wisely can give you great relief and freedom. Before taking on any financial obligations it is important to understand the risks as well as the benefits.

About the Author:

Doc Schmyz has done real estate deals all over the US and Mexico. His free website shares Real estate investing information for all over the US. Find Real estate investing information by state

Student Loans - Interest Rates, Now and Future

By William Blake

Changes in Student Loan Structure

Not too many years ago interest rates on Stafford loans and other programs changed from fixed rate to variable rate. Then, as of July 1, 2006 they changed back to fixed again.

But they can change again. What the Government does, it can undo. Also, because lenders have some flexibility, even official rates can be altered in subtle ways. Many lenders, for example, charge the Federally established origination fee of 3% and the default insurance rate of 1%. Others are willing to absorb those costs to get your business. As a rough rule of thumb, every 3% in fees is equivalent to approximately 1% in interest rate.

Interest Rate Increases

Though the interest rate changes can be modest, PLUS loans increased from 6.1% to 8.5%, for example. On, say, even as low as $16,000 borrowed, a 2.4% rate difference equals (approximately) a $400 difference in interest charges the first year alone.

You can visit www.bankrate.com/brm/mortgage-calculator.asp to see exactly how much your loan will cost you at a given interest rate.

The Future

There are no guarantees. The rates can change, since they're similar to variable rate home loans, even after the loans are funded. Predicting interest rates, both near term and long term, is a task that challenges even the finest financial experts. If it were otherwise, the bond market would be a pretty dull affair (which it's not). So, the best the average student or parent can do is to look to what those experts are predicting.

Follow The Leaders

You can visit Yahoo Finance or other financial websites to see what the experts are saying about interest rates. It is a difficult guess for them and an impossible guess for the average individual. Therefore the best bet is to stick with the experts and follow their lead.

Student loans and other types of loans often vary in conjunction with the Treasury bill. The Treasury bill shows what the government projections are for selling its debt and what the buyers are expected to offer.

About the Author:

Are debt consolidation non profit services the best way to handle consolidation? Not always. Find out why at the Inside Debt Consolidation website

Total Visa Card

By Daniel Moskel

The Total Visa was designed for individuals with a low credit score. It is an unsecured card.

It will report to the major credit bureaus. You can start to build a positive payment history by making on time monthly payments.

This is a large part of your score. Additionally another big piece is your utilization ratio.

This ratio compares the amount of available credit you have versus the amount of debt you have. It is how the bureaus determine if some one can afford more credit.

They estimate that your utilization ratio and payment history make up to 80% of your score. It will help if you have unused credit.

It is also important to remove derogatory items from your report this will help with showing a positive payment history.

Your card will have an initial $250 limit and a 19.92% APR. It is issued by Plains Commerce Bank and has an annual fee of $48.

The cash advance APR is 19.92%, in case of a financial emergency. You will be eligible for quarterly limit increases.

With our current economic conditions there has been a wave of good credit cards raising their APR's to 20% and higher. They have been doing this without cause, meaning the customer did not pay late.

Law makers have responded however these new laws do not go into effect until 2010. We have also seen the lending institutions tighten their requirements for approval.

This card will give you free online account access and fraud protection. It is accepted everywhere you see the visa logo displayed.

If you are able to use your card responsibly it can help a low score. However it can also harm even a low score with irresponsible use.

This is why we think it is important for you to look at your budget and what you can comfortably afford to spend before you apply for any new credit.

About the Author:

For more about the Total Visa Card or for a free credit repair consultation visit us or call 1-800-253-3735, or for a review of the popular prepaid Rush Card www.rushcard.com.

Tribute MasterCard - Review

By Daniel Moskel

The Tribute MasterCard is a bad credit unsecured card. It is frequently used to rebuild a low credit score.

This card is issued by the First Bank of Delaware. They have been sub prime lending for years and are a trusted leader in the industry.

Your card will help to increase your score. This is because with on time monthly payments you will create a positive payment history on your credit.

This factor is heavily weighted when your score is being calculated. In addition it will improve your ratio of available credit to debt. This ratio is how the bureaus decide if you are in over your head or can afford the new credit line.

Your APR will be 19.5% this is standard among sub prime lenders. You will have to pay an annual fee with this card; however every bad credit card has an annual fee.

This card will report monthly to all three major credit bureaus. You initial credit limit will be $300.

This card is unique because they are committed to approving most applicants. If you credit is severely damaged you can still be approved for this card, however instead of a $300 limit your card will have a $70 limit.

However using your card responsibly and you will have limit increases for both cards. There are no finance charges and no account set up fees for your card.

There have easy approval requirements and no minimum income for this card. You will have free online account access and there is no application fee.

With both the $300 credit limit and $70 credit limit card you will be eligible to receive periodic credit limit increases. In addition you will have a 30 second online decision when you apply.

You should also know to get the most benefit on your credit with this card you should aim to keep the balance at roughly 20% of your credit limit. This will help your score because it shows you are in fact using your card and using it responsibly.

In sum we do suggest the Tribute MasterCard. When used properly it is a very effective tool to rebuild a low credit score.

About the Author:

For more about the Tribute MasterCard or online credit cards visit us.

Credit Card History

By Jason Asthworth

When Edward Bellamy wrote the novel Looking Backward in 1887, he brought up the novel idea that each person would own a credit card that they would use to buy items. This was the first time the term credit card was introduced to the world.

Credit cards were first utilized by motorists in the United States in the 1920s during the car boom. They were however originally referred to as charge cards and with time, various firms permitted the use of different cards. In those days it was a piece of cake to forge a credit card since many of them were printed onto a type of card material and not plastic as they are nowadays.

Another type of credit card that appeared in the 1930s and 1940s is the Charga-plate. The credit card was made of a small piece of metal and had the owners name, city of residence, and the state in which the person resided imprinted into it. The Charga-plates were most of the time kept in a store and only large retailers made use of these, and they only issued them to their everyday clients.

The Diners Club was founded in 1950 by Frank X. McMcNamara and Ralph Schneider. The club card allowed people to use it instead of various other cards. The Diners Club card required payment in full each month, unlike the credit cards of today. Instead of being a credit card as we know it in 2009, it was like running a monthly tab which had to be paid at the end of the month.

Next, Carte Blanche arrived on the scene, closely followed by American Express in 1958. A worldwide credit card system came into being as a result of American Express. In addition, Visa was born in 1958, making its debut as Bank of America's BankAmericard. In 1966, MasterCharge appeared and its name was later changed to MasterCard.

The US bank system made it possible for people traveling to use credit cards in various places across the country, since they could not access their home banks.

In 1966, the first credit card was released in the UK. The credit card system was not accepted by other countries. Reasons cited for not wanting to use credit cards included bank reliability or a preference to use cash.

Before the advanced technology came, there were reported many credit card frauds. But in recent years, microchips in built credit cards are developed which give you safety. Recently, affinity cards are also developed which are linked with specific group or companies.

Usually,when your earning increases you are more able to return debt of your credit card which ultimately lead you to increase use of the credit card.

About the Author:

Jason Asthworth is the content syndicator for applyforvisacreditcardnow.com the leading resource credit cards and applying for a visa credit card.

When Thinking of Mortgage Refinance

By Madeline Zidan

Below I have mentioned few terms to become familiar with to help increase your knowledge and help you become prepared and learn what to expect as you approach a Mortgage Refinance for a commercial property.

Long before I became involved in Commercial Financing and Real Estate Development, I would hear terms mentioned in regards to Residential and Commercial Loans and Mortgage Refinance options, ARMS, Balloons etc. I had absolutely no experience in real estate or how to acquire a mortgage loan, so these terms were like a foreign language to me. I realized very quickly without thorough knowledge of the terminology it is hard to understand what direction you will go.

The initial thought process you had used before will be slightly different from the one used to prepare for a Mortgage Refinance. You had to think about the time it will take to secure a loan this size. It is possible for the amount of time specified on the contract to purchase could expire before you get funded, protection from default on such a large loan, not to mention collateral, down payment, closing costs and so on, not too unlike a mortgage on a house. Although, some of these items are the same, it can become very complicated on a loan this size for a commercial property as you get further along.

Long before you ever dreamed of a Loan Refinance you had to make sure you can handle such an obligation with the original commercial loan by speaking to your Financial Advisor and your Accountant about how long your finances could carry the loan if things don't go as planned.

Before we move on to Loan Refinance terms let's recap what terms you had to learn before, such as 1031 Tax Exchange, Environmental Reports, what type of commercial property qualifies for what type of loan, which is a lot for one to learn, the difference between Conduit and Mezzanine Loans, and so on.

Do a simple break even analysis to compare costs of other lenders versus your existing bank. If they know you are looking for a Mortgage Refinance, your current bank may offer to reset the loan.

The cost to complete a Mortgage Refinance for a commercial property can turn out to be quite high if you were under the impression it would be less than an original loan. An appraisal can run between $2,000 - $5,000, Title between $800 - $2,000, Phase One Environmental Report around $2,000 and lender processing fees around $1,000.

Successful Brokerage firms will want to share information with you. Remember, knowledge is power, stay informed by reading and researching your topic. When looking for a Broker don't hesitate to ask how long they have been in business and their approval vs. denial ratio.

About the Author:

This article is brought to you by the experts at EFD Commercial Investments Inc. For more free information about loan refinance, visit their Mortgage Refinance page.

Starting a Credit Repair Business and Keeping Your Expenses Low

By William Blake

With any business the initial start up costs can be challenging. A credit repair business is not unique in this way. It can be expensive to get started and costly to maintain your credit repair business. Also, just like with other types of businesses, you may have to work hard for a while before you see any profits. Add to that the challenge of learning to provide a good credit repair service and you realize that you are faced with quite a task.

Watch Out for Scams

The worst that can happen to you is that the credit repair business kit that you bought to get your credit repair business off and running turned out to be a rip-off. However, there are also many good things about doing your own credit repair business because there is in fact a lot of money to be earned " provided you have a product that delivers.

Most of the credit repair business kits being sold on the market end up being more profitable to the seller than to the buyer. However, the good news is that there are ways to enjoy free credit repair business that are realistic and which wont make any dent in your pocket.

By trying to keep your initial investments down you allow yourself to gradually learn about credit repair as you build your business and you wont have a lot of out of pocket expenses.

Some credit repair services charge extremely high fees and prey on debtors desperate for a way to repair their credit. Some lawyers and other professionals also take advantage of people. If you want to start a good credit repair service you dont want to get caught up in that game.

It is really not difficult to start a credit repair service. Anyone can do it. It just takes a little knowledge and work. Credit repair is not an extremely difficult task. Some people who need to repair their credit do not even seek professional help. They simply do it themselves.

There are a few sites which allow you to download credit repair business kits for free and these are the ones that will help you with starting a free credit repair business. One such option is the Poor Mans Credit Repair Kit. Another is mycreditreport data generator 1.0. by selecting these and other such freeware you can get into the business of providing credit repair without even spending a single dime.

About the Author:

Are you tired of struggling to keep up with your credit card balances? Learn some simple ways to pay off credit card bill on the Debtopedia website. Visit http://www.debtopedia.com for a free copy of my "Secrets Of Credit Card Debt" report.

A Mortgage Refinance Primer

By Ned Dagostino

Mortgage refinance is an option most house owners look at from time to time. The big question they ask themselves is: Should I? Well, that depends on the particulars of the case. Generally people go in for mortgage refinance either to save money on the interest they pay, or to consolidate sundry debts. The crucial factors that merit consideration when deciding the 'Should I?' question are noted below for your information.

If you are facing a difficult debt repayment situation with a number of repayments to manage every month, then it is definitely a good idea to put all your loans under a single 'roof' and deal with a single repayment issue. Just make sure you choose the repayment plan that suits your monthly cash flow. The question of saving per se does not arise here, since you are refinancing for a different purpose.

You may have gone in for a variable rate mortgage plan when the interest rates were low. The interest rate in this plan is linked to the market rate. If there is a rising trend in the market rate which is not likely to abate, you may well change your mortgage to a fixed-rate plan in which the interest rate is equal to or less than the current rate.

Whatever the reason for refinancing, you should study all aspects of this important decision very carefully. The one thing you should understand is that while refinancing your mortgage could save you a packet, it could just as easily cost you a packet. Refinancing can hurt you in certain situations.

Refinancing is not as sweet as it looks. There are a number of fees that have to be paid for refinancing the mortgage which are not disclosed to you. It's only after you have gone too far into the deal to turn back that you are made aware of these hidden charges. Be persistent in finding out all the nitty-gritty details about these hidden fees from people who have already taken a refinance. Deduct these fees from the total savings you expect to make. If the money saved is reduced to an insignificant amount, you might as well stay with your current plan.

Information is your greatest asset in making up your mind about going in for mortgage refinance. Gather all the data and information you can about the various mortgage refinance schemes on offer. Go online and get the latest market buzz about interest rates and mortgage refinance schemes. Tabulate your findings and make a comparison chart. This will help you in evaluating the best refinance schemes available.

Find out all the penalties and fees that refinancing companies may extract from you upfront. For example, there is an origination fee or points, which is taken before the refinance plan becomes operational. There might be a plan where the interest rate is slightly higher but you don't have to pay origination fee. This may turn out to be better for you.

Refinancing will be beneficial for you if you are able to save more than you spend on all the fees and penalties involved in refinancing. One very important factor that you must consider is whether there are chances of your moving out before the refinanced mortgage expires. If there are good chances of your moving out soon, then, far from saving you money, the refinance is going to cost you a packet!

Refinancing your mortgage is a good way to save money by opting for a lower interest rate regimen. It is also a good way of consolidating your debts. But that is not be construed as a clean chit for every situation. Refinance has to be debated on a case by case basis according to the particulars of the situation. So what works for Bob may not work for Bill. The most important thing is to perform an exhaustive market survey before going in for refinance. Be very careful in computing the refinancing costs. Ask other people who have taken this route about their experiences and seek their advice. Be wary of hidden charges. These surprise charges may make the difference between saving $10,000 and paying out $500!

About the Author:

There are plenty of other refinancing choices available to you besides a basic house refinance. You can refinance almost any loan including your vehicle, trailer, or even a manufactured home refinance can put extra money in your wallet. Go to www.Home-Mortgate-Refinancing-Loan.com to learn more.

Understanding Individual Bankruptcy

By Joseph Then

If you are in a situation where you realized that you have debt collector on one side and no way to pay them back on the other, it is not hard to see that you are in-between a rock and a hard place! This is very true in today's economy, where employees are getting laid off. To many people, Bankruptcy is a route that is considered. If you are considering filing for individual bankruptcy and wants to get a new start, you need to find that there are a number of issues that you need to keep in mind.

First issue that you want to understand when you are considering recording Individual Bankruptcy is that the U.S. Bankruptcy Code had been reviewed and overhauled in October of 2005. These new revisions made it much more difficult to file for bankruptcy, and there seem to be a need to hire a lawyer to help you out! When you are still keen to file for bankruptcy, and you want to make sure that you are in an advantage to get the right outcome from the whole process, to ensure that you go to a professional local bankruptcy lawyer who will give you a reliable recommendation of how to continue and how to ensure that you are going to get the result that you are after.

These are important Bankruptcy Assistance that you need right now.

When you are getting ready to arrange for individual bankruptcy, keep in mind that you have to halt and think about organization. Almost every piece of document that has something that involves money on it will need to be presented, ranging from bills to paycheck stubs to copies of loans. Gathering them and into some semblance of order will allow you and your lawyer a much clearer appreciation of the status and what might be the good route to progress.

When you are in a spot where you want to move forward and when you want to make sure that you are going to be receiving the right kind of outcome that you need with your financial status.

This is a big step to make, and when you are looking at sorting out what needs to follow, keep in mind that the more illumination you have on the process, the better equipped you are going to be!

About the Author:

If you are thinking of file for Individual Bankruptcy, perhaps you do need some help. Go to our website for more information on bankruptcy and how you can move ahead in life even with bankruptcy