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Everything posted by missty1029

  1. I think your thinking about something very important. I myslelf have a new name in mind but Im waiting and every day I say it to see how it will work. I would offer to not use Gadgets as that limits you. That may be your focus now but you always have to think of growing growing growing! Dont let your name limit you! As for your website you could still use gadgets to help focus you and say you use limited you get that domain too and set it up to point to gadgets or vice versa.
  2. What is the real difference between having a Scorp and having a LLC taxed as a Scorp when it comes to the SE taxes and deductions? Is there any? Also not to throw it off but any one have opinions on using Investments in their biz name?
  3. Yea I like Vanguard funds too. Thanks for the advce all! I actually think I will have both of them and reevaluate again down the line.
  4. sorry I dont have any info for you but I wanted to say Hey!!!! long time no see round these parts!!!
  5. pryan brings an excellent point as well. If there is a concrete value on what you owe then why do creditors sell the debt for less???? If they can do it why cant you?? If a creditor is willing to take 500 from ME or the CA then they are the ones who are putting a value on it, not me. Do you have a moral obligation to pay full price on a sale item? I bet not. Just imagine your debt on sale.
  6. No the burden of proof lies with with the plaintiff, the one who brings the case.
  7. This was on the savings or the new checking accounts??? I havent experienced a pull and I just have a savings. I read briefly there were pulling accounts but i never got why.
  8. thanks. my business cannot support me yet!
  9. Also credit is a privledge not a right. So when you mess up you pay dearly for the mistake. But what happens when you mess up because like some one stated life throws you a curve? Job loss, sickness, divorce. creditors never say well you lost your job and you need to survive so well help you maintian. What do they say well your account has to become deliquent before we offer a hardship program. Based on that theory alone, settlements are fair and just in this credit game.
  10. I have an 401k in Vanguard from my old employer. My current employer uses Fidelity. Should I move my account out of Vanguard in favor of Fidelity?? I also want to start investing on my own in addition to the 401ks. Thanks.
  11. But I think the argument is how much of the 1k is really what you charged? After interest late fees over the limit fees, it just adds up. I fight with the moral issue to because I feel I should pay what I owe. But im learning that these creditors make so much money off of consumers anyway if i can get a settlement what are they really losing? Whatever I spent is being paid for numerous times over either by me or someone else. If it was all fair and moral then us consumers can say well I cant manage this credit anymore can I just pay back what I spent? Nope cant do that still have to pay interest and suffer from bad credit that makes everything else cost more. We pay for the use of the credit not for what we actually use. I think its fair to say if we really sit down and figure out was was actually charged it would be closer to what you settle for anyway.
  12. Congrats! Was it a paid tax lien? How did you dispute it? I have one thats been paid but I would like it gone.
  13. I didnt read everything fully, but I see they ask for your SS# in addition to you tax id. Wonder if they would still pull if you already have an account.
  14. Got the info in an email and went to the site for the info business dot ingdirect dot com Looks like the rate is higher for the business then on the personal.
  15. wow thats really really horrible!!! These credit card companies are out for blood. Guess Im happy Ill never get a Chase Card. Not with great customer service like that!
  16. I love car dealers!!!!!! As an educated consumer you have the upper hand! You have the final say!!! Bought two cars in my life and got great deals on both. Now I handle claims for car dealerships. They mark up everything!!!! Its amazing. But now I know what they really pay for a car. Next time I walk into a dealer they will probably kick me out. And bring your own financing those contracts are full of fluff for those who dont know and have bad credit!!!! Its a nightmare!!! Heres my list 1. Have your financing in place through a credit union. 2. Research prices and tell the dealer right off your not going off MSRP. Even sites like edmunds who give you what they call the invoice price are still higher then what the dealer pays for the car. 3. Never ever tell them how much you want to pay a month. Its a trap. 4. If your buying a new car dont let them force you on a veh thats been sitting on the lot. They pay interest every month on that car and want you to make it up in the purchase price. If you order it you get what you want and they make no extra money off of you. 5. Ask if they have a car that has had some minor damage to it. Look up your state threshold if its over a certain amount they have to disclose it. I handle minor body damge to new vehs between 1300 and 2k all day. Its just some body work nothing that will effect the mechanics and you can get a nice discount because it has been damaged. 6. If you trade in a veh know your value!!!! research the internet for your location veh and same options. Dlrs will low ball you all day on your trade in value. 7. Dont be intimidated if they have to talk to the manager. Its a stall tactic. Like I said the price your offering is still a profit for them. 8. If they dont work with you walk away. There are tons of dealers. And while your walking out ask for the closest dealer. 9. Never bring your car to the dealer for repairs outside your warranty. Everything is marked up up up! 10. Last but not least, dont spend more then you can afford and dont let any swift car salesman convince you otherwise. Know what you want and negotiate hard! Especially at the end of the month. Quotas quotas quotas.
  17. Thanks. Thats what I was trying to figure out too. What really is the difference between having an Scorp and a LLC taxed like an Scorp when it comes to the tax saving. Seems like it would just be better to have an LLC taxed as a Scorp as the management company, right?
  18. Okay i am just trying to get clear on this as I am helping a friend out. I know we already discussed talking to an CPA but she just wants to get an idea of what has been working for others. She is planning on buying rentals so i suggested that she set up a S-corp as a management company. The reason to help with additional protection as well as for credit building since REI is considered high risk as opposed to a management company. Then have the rental set up in the LLC. She is partnering up with someone as well. Would this be the best way to set it up? If so my question then turns to income. As an owner of a LLC, you are considered self employed therefore have to pay self employment tax on what is made right? So then the idea is to have the income flow through the S-corp so only what you pay out in a salary is then subject to self employment tax? So what would an example be? Thanks guys!
  19. Anything easy is never worth while. It take patience and time. And lots of reading here. This in not your get rich quick spot.
  20. So charge offs are worse then judgments? Why is that?
  21. I read a list from most damaging to least damaging items on you credit report: BKs Charge Offs Collections Court Judgments IRS Liens 90 days 60 days 30 days Inquiries My question is are Charge offs and collections really worse then judgments? And where do Foreclosures and Repossesions fit in the list?
  22. Is the judgement paid? Also you were able to obtain credit with a judgment on your reports??
  23. Hey Chris. Its okay to use your home address as your business address. Its always better if you have an office but thats not feasible for everyone. You should get a land line because it shows stability. With a cell phone its like you can disappear tomorrow and creditors cant find you. In the year 2007 who really has a land line unless your a business right? So be that business and get one. Yellow pages you can sign up online I believe. If its free do it it cant hurt. If you have to pay and can afford it right now then do it. Its just another aspect that indicates your a real business. The goal is to be a business to anyone that sees you whether its creditors or customers.

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