Manns Medium

To many the words according to Ken Clark, a debt/credit expert and certified financial planner, are all but true.   He is quoted as saying that quite simply, your credit score summarizes your credit risk based on a snapshot of your credit standing at a particular point in time. It’s an overall assessment of your financial responsibility (Rate Nerd).   Then there are those who take on the view of the Manhattan Financial Group who states “t ypically, a person with a bad credit score is in this position because they lack structure in their life. There are, of course, cases where unplanned health or employment complications are to blame, but for the most part, these are individuals who lack the discipline to pay their bills on time or curb their spending.”   So who’s right or are they both correct? Origin To begin to understand the importance of this article we must first review. “ Equifax is the oldest of the three bureaus, having been founded in 1899 as Retail Credit Com...

Before this economic collapse, many people on Main Street never really considered Wall Street as alive; it was only thought of a place where people go to work.   Lately, it’s becoming increasingly clear that Wall Street is most definitely alive and is eating our breakfast.   Typically, I never really like to categorize any issue as “us/we” and “they/them” but for the sake of clarity and to better help you understand my point, this time I must.   We will be the middle class, seniors, poor and less fortunate while they will simply be the wealthy.   Make no mistake about it, this is class warfare. One of the most ingenious things ever created by Main Street was Wall Street but just like any animal that goes mad, it turned on us.   Main Street wanted a better life for their children so we created the Student Loans.   We wanted to reach a higher standard so we created Home Loans.   We wanted to be our own boss so we created Commercial Loans.   We w...

Contrary to popular belief, it may surprise many to learn that identity theft is not limited to failure to shred your documents or filling out an on-line application.   Many of the identities may just originated from agencies which require personal information from those seeking services like banks, finance companies, mortgage originators, daycare centers or any other place that say they need this information to qualify the applicant.   It may occur when these entities lose your information when you fax it in and the intended recipient does not get it or they fail to shred old applications or information profiles. To think that this may not part of the problem would be like failing to assume that your information is safe with those you do business with.   There are millions of Americans who pride themselves on taking care of their personal information yet when their identity is stolen and major problems result, they are the only ones left to pay for it.   This is fa...

When I was first informed that the GOP ordered an emergency meeting not for job creation but to vote on restricting funding for National Public Radio (NPR), I was shocked that all the promises to concentrate on jobs and as yet not one bill addressing it.   I didn’t think that I could be shocked by anything else that the GOP would do.   I was wrong. According to M eredith Shiner’s article titled GOP begins rollback of Wall St. reform , the one thing which is unquestionably the best law made to keep this nation from ever going through what it has involving the economy now appears to be under fire similar to healthcare.   “ Republicans clearly want to strike at the heart of banking reform with legislation attacking new regulations on derivatives, credit rating agencies and private equity firms.”   “In a two-pronged approach that   began   with starving funds from relevant federal agencies like the Treasury, Securities and Exchange Commission, and Commodity Fu...