Questor

On the printer note, if you are a legitimate small business, shell out the extra cash for a nice MF Color Laser... Inkjet MF printers look cost effective, but they have cons... I have a couple smaller vendors who print their invoices on Inkjet printers, and invariably they get wet; be it rain, condensate from a nearby beverage, minor splash or spill etc... The inkjet invoices BLEED and RUN immediately after contact with water, very unprofessional looking. I'll re-iterate the necessity of the MS Office Suite, MS Office is REQUIRED, at Least the Basics, Outlook and Excel - learn about Excel, get your spreadsheet on and and use it!

I am not sure who you think would argue otherwise. I see no basis for PP if someone without POA gives personal information to a third party for the purpose of pulling credit as part of a credit application. The question is, who has violated the FCRA? The husband or the broker? both? Oh, you know there are always people who will. The facts however, seem clear. Putting aside the husband providing the information, the broker is certainly culpable of many violations, including of the GLB act. There was no second individual in front of him, using the information to pull a consumer report, no matter where he garnered it from, be it husband, wife, lover, friend, identity thief, or magic 8-ball, if there was no POA, and the individual was not present, is a violation.

Greyish area... 100% no PP for the second pull. Even though your husband gave your SSN, if the agent did not speak to you and get verbal consent or have you sign a form, there was no PP for the first either. Though some would argue otherwise. Does your husband have POA?

I would tend to concur with ansky, selling price for small business is usually 2 or 3 times annual net profit, and may not include, depending on the type of business, inventory and appurtenances... $150k for a business that nets $100k and has over $30k in real assets is probably almost too good a deal... Dig deeper. Make SURE you pull full reports on the business and look for any liens, UCC filings, etc... Also look at any necessary licensing and make sure it is transferable. Good luck

I feel the same way and I don't mind sharing at all, I was mostly commenting on why there would be a distinct lack of response and discussion on this and related topics. The choice of entity is not so important as the reality of the reasons and motivation behind the garnering and use of the debt instrument / credit. The judge is a real person and I cannot stress enough how piercing is at the discretion of the judiciary. There exist a large number of standards or tests for the court to consider in their deliberation as to whether or not to pierce. I could discuss the many reasons, but that's already been beaten to death, so I have shamelessly stolen from the wikipedia: (http://en.wikipedia.org/wiki/Piercing_the_corporate_veil) Factors for courts to consider Absence or inaccuracy of corporate records; Concealment or misrepresentation of members; Failure to maintain arm's length relationships with related entities; Failure to observe corporate formalities in terms of behavior and documentation; Failure to pay dividend; Intermingling of assets of the corporation and of the shareholder; Manipulation of assets or liabilities to concentrate the assets or liabilities; Non-functioning corporate officers and/or directors; Other factors the court finds relevant; Significant undercapitalization of the business entity (capitalization requirements vary based on industry, location, and specific company circumstances); Siphoning of corporate funds by the dominant shareholder(s); Treatment by an individual of the assets of corporation as his/her own; Was the corporation being used as a "façade" for dominant shareholder(s) personal dealings; alter ego theory It's very difficult for most folks to not screw up on several of these, and it really only takes one or two, depending on WHY you are in front of the judiciary, for them to state liability. Again, the concept of limited liability was originally intended to protect the individuals who individually or jointly operate a business from being liable for wrongdoings of that business that would result in torts. Limited Liability was not intended for the protection of businesses who secure capital and then default under contract law, though some protections have been afforded in this regard. A key point to note is that in addition to the above, most states have laws against an insolvent LLC making a disbursement to a member, and if that is done, as is most often the case in a failing business, the single member will often take money out of the company in an improper manner, thus sealing their fate if any action ever comes before the courts. This is especially harsh in states where the law is written that insolvency can also mean that the liabilities of the LLC exceed the FMV of its assets. Normal business operation can result in this state! And ANY distribution taken not in the course of normal salary could be considered. All of the above and the vast number of people who now register businesses as false fronts, have dried up the landscape of many forms of reachable, usable, credit for small businesses. If you are a bona fide business, you can often get credit or terms with your suppliers or providers after establishing a relationship, allowing you to extend your buying power, etc... THESE are the REAL ways a business builds itself and it's creditworthiness, not by buying office supplies that one doesn't need in order to get 'another NET30 account 'reporting''... A significant number of people post here looking for No-PG V/MC, etc. Which virtually do not exist for small business anymore, thirst for these instruments is a classic sign of individuals who screwed up in the personal credit world and are now leeching of the FORMER ease of getting credit in the biz world.

I would posit that the reasons behind the lack of discussion regarding these issues are many, and that included are that in businesses large enough to have real officers officers, they do not deal with issues so mundane, and have legal departments to ensure compliance. Additionally, many of those who are knowledgeable in these areas are not going to simply give the information away for free, having been educated that it is valuable. MBA's are not free. Those said, another big reason there is little discussion on these issues is that most people asking these questions are planning to default, assuming that their business will fail, trying to commit fraud, or otherwise not convinced of themselves and their business ideas enough to be able to pull it off and want some sort of 'safety net'. These individuals rarely make it in the business world, and are among the myriad of reasons that easy to get business credit is drying up. This is a very complex issue and cannot be disseminated easily, for understanding relies upon quite a bit of prior knowledge and experience. First, a basic understanding that when it does come to litigation, it is ultimately the judge that makes the decision to 'pierce the corporate veil' or not. While instigated by the council of the opposition, the judiciary makes the call based on the evidence at hand... Knowing that the judge ultimately makes the call, we next move on to whether the issue is contract or tort. For most legitimate businesses, the chosen business structure was not opted for so that when said business failed financially, the owners would not be responsible; the structure is generally chosen to protect from liability of a different sort, tort. Try this one on, you and your 3 partners are dentists, and share a facility and have a partnership agreement, said individual trips on your lobby chair, breaking her leg, turns out to be a championship figure-skater, and can now no longer perform, she is insured and gets a payout, but the rights are subrogated to the insurance company, who comes after your practice, in this situation, you do not want to be personally liable, and the judge would likely not pierce the veil, even if some of your paperwork was missing, not timely filed, etc... because it would be obviously presentable by your attorney that you were operating as a group, etc... Now, take the situation of most of the people asking questions here, single member LLC's, who generally have ZERO real employees, and often no real physical business location, and are looking to get no PG biz credit, basically the model for default. Said individual can file every bit of paperwork, crossed and dotted every t and i, and have meetings and minutes for talking to themselves, but when it comes down to it, in front of a judge, with intelligent opposition, dealing with contract law, regarding credit garnered for the business, pierced, like that. Additionally, and read this, all ye seeking false business credit, just because you don't PG does NOT mean that you will not be put in collections, get harassing phone calls at home and at work, actions filed for your own acts, negligence , or omissions. As a member of the LLC (single member LLC's have a 'managing member') you will be dually responsible as both a 'manager' and a 'member'. In addition, any creditor can always (and WILL) come after you personally with an action as an individual, in which it will be up to YOUR legal muscle to prove that you (as a single member company, where YOU personally were the one that had to fill out the credit application and then use the credit) somehow?! aren't liable... Good luck... Even if you have all your 'ducks in a row'. These things usually end up disastrously in the courtroom, comical at times. To those starting a business: If you do not believe in yourself and your business enough to know that you're going to be able to repay your direct creditors then be willing to risk Ch7or11 or just don't do it!

That is correct, CGL policy premiums will vary by location, so only a broker or agent can tell you what you will pay. Also keep in mind that if you do remote work, at customer sites, etc... you can get into different risk classifications, company vehicles, etc... Do not skimp and be sure to tell your broker or agent all of the activities that you perform, as the time to find out that an activity is not covered is NOT when there is a claim. A couple hundred $'s a year is well worth it if you even have one claim!

The biggest differences relate to taxation, and this will vary by state to state and also with the IRS, sole member LLC's are taxed as a pass-through entity which is on your personal tax form unless you elect to be taxed as a corporation, with multi-member LLC's the fed situation becomes more complicated. Meet with a qualified CPA or business / tax attorney in your state to discuss the ins and outs of each business structure.

I think you'll get slapped with a blanket 'verified' or tagged as frivolous, however... Never give them information. With regard to your 'high credit' statements, don't list a 'correct amount' let them dig to get the information, just report that it is incorrect.

ALL of the major issuers autopay systems include a clause that you accept when you sign up which indicates that it is still your responsibility to make sure the payment is received on time. Any errors in processing, computer failure, etc... and you're in default. The safest way to do autopay is to set it for well in advance of the due date, with enough time to get them another payment if need be, and verify that it hits your account each time. Is there any reason that you wouldn't want to do the payment the date the statement cuts?

Yeah, don't - it would be lying to dispute them, and is an abuse of the system designed to protect consumers. Can you please explain why you feel you have a legitimate right to dispute hard pulls for products you directly admit to applying for? Just because you were denied? Even if you were denied due to inaccurate information, that is not a valid reason to dispute a pull when you freely admit they had PP. Keep in mind that the creditors who got your report and denied you probably have NO relation to the CA that you were dealing with before. If you didn't want the inquiries and had any inkling you might be denied, you probably should have waited for the results of this letter before applying. I think your best bet is to re-approach those you applied with a very nicely written goodwill letter explaining that the derogatory item they stated as a reason for denial was inaccurate, has been removed from your consumer report, and request they do a recon, perhaps on a soft pull.

One also has to speculate about whether special treatment was received for the son of this former Congressman, or, as the article alludes, the e-mail just 'happened' to make it through DIRECTLY to the CEO's inbox... Funny that we never hear reports from the members of this board who have had AA from Amex; write scathing, grammatically incorrect emails, which then 'just happen' to make it directly to the CEO's own inbox and who then have their accounts magically restored with a hefty CLI...

Staying on topic about the subject at hand would probably a better use of one's time and posting. maybe in YOUR opinion LOL! refi4 - At least my post was ABOUT and IN REFERENCE TO the article posted...whereas yours was COMPLETELY off topic!

Am I the only one that is extremely bothered by the jolting grammatical errors in this blog entry by a former member of the U.S. House of Representatives? ...

As jack mentioned, the DOFD is when the SOL period begins.