Archive for April 2012

Credit Repair Report – How To Improve Your Credit Score – Free Credit Score Insider – Watch the rest of the credit repair report video. Learn how to improve your credit score. Kick ass advice by free credit score insider.
Video Rating: 4 / 5

Credit report?

Question by angieward_2000: Credit report?
I just ran my credit report and there are several hits on it to say the least. Is it better to call the collection agencies directly and work out payment arraignments or should I call the credit consolidator people. And what is the best credit consolidator co to call?

Best answer:

Answer by angel h
Just call the credit report company first. It’s a lot easier, cheaper and you won’t risk getting rip off. If you need to contact a collection agency later on please do your homework and make sure it’s a reputable company. Also get references.

Add your own answer in the comments! Offers Up New Educational Payday Loan Article

(PRWEB) April 14, 2012 has added a new informational article entitled Why Choose Us to its library of free online educational resources about payday loans. The piece offers detailed information about cash advances and the payday lending process, as well as highlights the reasons why prospective loan borrowers should choose over available alternatives. All of the sites articles, which are accessible from the homepage, have been designed by to provide readers with helpful advice and useful tips, help them get the most out of payday loans, and be as concise and informative as possible.

We at know that consumers considering payday loans want to know all about what these loans can do for them before they proceed with the application process, says spokesperson James F. Berry. Our goal is to help people understand all the benefits that come with payday loans. We do this by thoroughly explaining exactly how these loans work, the ease and quickness of the entire payday lending process, and how our site stands above the competition. Once consumers understand what we have to offer them, they can make a responsible choice.

Payday money loans are intended to provide cash to borrowers quickly so they can use it to take care of pressing financial matters. Customers can get approved payday loans in amounts ranging from $ 100 to $ 1,500 generally within 24 hours. The loans also come with easy repayment terms and total confidentiality, meaning will not contact anyone than a borrower to discuss the loan they have received. The quick and easy application process takes just a few minutes to complete, and members of the lender network compete to give consumers the most competitive rates and terms around. Customers do not need to present credit scores to be approved for a loan.

Payday loans are typically used by borrowers either to cover emergency expenses such as medical procedures, auto repairs or home repairs, or just to make ends meet between paydays. Though the loans can be lifesavers for people, it is considered crucial that potential borrowers be fully educated about them before taking them on. Consumers can check out the various articles on and gain the insight they need without ever assuming any obligation to initiate a loan. Besides the newest article, other articles on the site cover such topics as common payday loan misconceptions, lending policies and top benefits of money loans.

With its newest article, has provided further evidence of its declared dedication to ensuring that consumers have a satisfying, positive experience when perusing its site or applying for a fast money loan.

How to Improve Your Credit Score

Our very own Bankaholic Banker Alicia Lagan shares some great tips on how to raise your credit score (FICO).
Video Rating: 4 / 5 Find out what is a good credit score and how it can either make or break your finances. Many people are checking on their credit score and applying for loans, not knowing there are a number of simple things you can do to increase your score.

Credit Suisse Managers Won't Vote on Compensation, Sonntag Says

Credit Suisse Managers Won't Vote on Compensation, Sonntag Says
Credit Suisse Group AG (CSGN) management will abstain from taking a position on the bank's compensation report at the annual general meeting on April 27, Der Sonntag reported, without saying where it got the information. Chief Executive Officer Brady …
Read more on Bloomberg

Credit management tips for first-time professionals
If you're a credit novice, congratulations! Your clean slate means you have a great opportunity to start out on the right foot. Your initial steps toward credit management should include: * Obtain your credit report and familiarize yourself with what's …
Read more on Milwaukee Journal Sentinel

3rd agency lowers San Jose's credit rating
By John Woolfolk A third major rating agency has docked San Jose's credit, citing concerns about the city's ability to manage its growing employee retirement bills. Standard & Poor's lowered its rating from AAA to AA+ for San Jose's general-obligation …
Read more on San Jose Mercury News

World Bank Approves US Million Dollar Concessional Credit to Nigeria
The statement added that the credit was provided in recognition of some critical policies and institutional reforms that the Edo State Government had undertaken to improve management of public resources. "Among the reforms on improving the management …

More Information on Credit Management Counseling in Alaska

Article by Kshitiz Mahajan

Credit debt management counseling companies even have interactive financial education tools for the public for teachers, and for professionals in the financial management industry. Most credit debt management-counseling firms also offer comprehensive debt management services and ongoing bankruptcy counsel and education. A credit management and debt counseling company will help you plan your debt repayment. The company will counsel you on ways to avoid overspending such as cutting up those credit cards. They will suggest ways of debt consolidation and repayment of the debt consolidation loan. It is important that you ask the credit counseling organization if they are compliant and able to offer credit counseling services in our area.

Debt settlement companies charge hundreds of dollars as an initial “admin fee” to set up your account, plus a monthly service fee. The fees vary depending on the company and the amount of debts. Getting through a debt settlement procedure is one of the ways that you can get out from the quagmire of dirt you have acquired through the years. Debt may be incurred in several ways other than just careless spending and poor financial planning. There have been many significant financial changes for consumers in the past few years, and unfortunately many of them have been unpleasant.

Debt negotiation is sometimes referred to as debt settlement. This is most often offered to people who can’t handle a debt consolidation program. If you can’t make the minimum payments of a debt consolidation repayment plan or haven’t made payments in the past 3 months, a debt negotiation program is the next step for solving debt and credit problems. Debt management plans help people take back control of your debt with the help of debt relief experts. Debt negotiating is one debt relief solution that can actually cut the principal, not just the interest, of the debt that owe. One of these changes has been the demise of the housing market and its ripple effects.

A housing counselor is trained to assist people with their mortgage needs. These particular types of counselors have been trained in finding the best solutions for those in pre-foreclosure and foreclosure status. Many of these counselors can be found through local or state housing departments. In addition, many work for non-profits meaning that they offer their counseling and advice at no cost to the struggling homeowner. Nonprofit credit home counseling organizations have limited funds, and therefore cannot hire additional staff in order to meet the higher demand.

The most popular credit card debt counseling service is the Consumer Credit Card Counseling Services. This debt management company has branches all over the U.S. and in 13 locations internationally. Credit card debt counseling services offer the individuals highly entrapped in the credit burden with effective direction on the sound cost management, monetary management, budgeting and planning. These certified debt settlement companies are equally essential for both of the individuals in credit or interested to be familiar with the credit management and monetary planning prior falling in any mess due to debt.

There are many credit debt management counseling agencies to pick and choose from and knowing what to look for is very important. Reputable Alaska credit card counseling agencies provide their customers with advice on how to take better control of your money and manage your debt. One of the most well known credit counseling agencies is the Consumer debt analysis Service also known as CCCS. They are funded by creditors, but they are non-profit. Nearly all major municipal areas of the country will have a local office in their area. Debt counseling organizations are held to certain standards by state regulatory officials. Debt therapy organizations are required to adhere to state licensing requirements.

I don’t know if you’ve heard the statistics and all the dire numbers, but there are a lot of people in this country who do not take care of their money very well. And the worst offenders are the twentysomethings, author Sanyika Calloway Boyce shares her credit management and debt prevention tips.
Video Rating: 4 / 5

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SAP Credit Management

Article by SIva N – Magna Training

What is Credit Management ? Most enterprises extend credit to their customers. This literally means, selling their goods and collecting money at a later point of time. The amount of credit extended is determined by the customer’s credit worthiness (Also called credit limit ). The number of days for which credit is extended is based on the payment terms associated with that transaction. For ex., Customer A could be given a limit of $ 100,000 by the company. Now lets say the customer orders goods worth $ 20,000 with payment terms of Net 45 2 % ( Meaning if the customer pays for the goods within 45 days of purchase, he will be given a 2% cash discount. So instead of paying $ 20,000, the customer would need to pay ($ 20,000 – 2% of 20,000) = $ 19,600. This is to encourage timely payment of their bills and improve cash flow).

The same customer could also place another order for $ 60,000 and still be within his limit.The value of Order A ( $ 20,000 ) and Order B ( $ 60,000 ) put together is called the credit exposure of the customer. If the customer places another order for $ 30,000 more, he now exceeds the credit limit set for him.

So, at the point of ordering (Order C) the customer’s total receivables ( Value of Order A + Order B ) along with his current order ( Order C ) is checked against this credit limit. Since the customer exceeds the credit limit set for him, the order would be blocked. Credit Exposure = Value of all Open Items + Value of the current Order$ 110,000 = ( $ 20,000 + 60,000 ) + ( $ 30,000 )This is a very simple example. In reality, it can get pretty complicated and not all the scenarios will be covered in this document.

Types of credit checks:

1. Simple check2. Dynamic check a. Static Check b. Dynamic CheckSimple Credit CheckThis is very similar to the example we have discussed earlier. Simple credit check compares the Customer’s credit limit to the total of all the items in the order and the value of all open items.

Credit Exposure in Simple Check = Value of all Open Items + Value of the Current Sales Order. Open items are orders that have been invoiced to the customer but the payment for the invoices have not been received yet. The system can be configured to either block the delivery, send a warning or an error message when the credit exposure has exceeded the credit limit of the customer.

Dynamic Credit CheckSimple Check alone is not sufficient for most businesses. Instead of just considering open items only, there is a need to consider existing open orders and open deliveries as well. Also, for old and seasoned customers, even if the credit exposure exceeds the credit limit set for the customer, the order can still be processed because of the good payment history with the company. However, for new customers credit needs to be strictly monitored. For the purpose of Credit Management, SAP allows us to recategorize customers into different ‘Risk Categories’. Some examples of risk categories could be Medium Risk, High Risk, Low Risk etc.Dynamic Credit Management can be broadly divided into 2 components. Static CheckOpen Deliveries + Open Invoices + Open ItemsDynamic CheckOpen Sales Order Value with a Time period ( Called Time Horizon )

Horizon:The use of time horizon can be best explained with an example. Most orders for the holiday season are pre-ordered because of the holiday rush. Orders might start to pile in as early as June, July. The delivery however is to be done in November or December.

For example, in August, Order A for $ 50,000 is a Pre-Ordered to be delivered in November.

Similarly for the month of December, another order, Order B is placed for $ 40,000 to be delivered in December. In case of static check, the exposure is already $ 90,000. If a regular order is placed in August for another $ 30,000 the credit exposure would exceed the credit limit of $ 100,000. However, in case of dynamic credit check, a horizon of say 2 months would be used to exclude all orders for which the delivery has to be beyond the stipulated horizon.So, order C would not be blocked in case of dynamic credit check.

Organizational Structures & Master Data

Monitoring Credit during SD ProcessingThe master data for those customers whose credit we wish to monitor is created in SD.We determine how high a customer’s credit limit is to be when creating this data.Credit Control AreaAn organizational unit that represents the area where customer credit is specified and monitored.Credit Management takes place in the Credit Control Area.A Credit Control Area can include one or more company codes.It is not possible to divide a company code into several Credit Control Areas.Path: IMG -> Enterprise Structure -> Assignment -> Financial Accounting -> Assign Company Code to Credit Control Area.


Customization Settings for Credit Management in SD1. Define Credit Groups Credit Group groups together different business transactions which should be dealt with, in the same manner with regard to credit check.We enter Credit Groups when we configure the Sales document types for Credit Management.The following credit groups are contained in the standard SAP R/3 system:01 = credit group for sales order02 = credit group for deliveries03 credit group for goods issue

2. Set Sales Documents and Delivery Documents for credit managementWe can specify in Customizing when,at the point of Order, Delivery or Goods Issue a check on the customer’s credit limit is to take place.We can specify the Sales document and Delivery document types for which a credit check should be carried out.We can also specify if Credit check can occur at the time of Goods Issue.We can specify the system response if credit check is set.The system can respond in the following ways:- Warning Message The document can be saved.- Error MessageThe document cannot be saved.- Setting a Delivery BlockThe document can be saved, but a delivery block is automatically set.

3. Set Sales and Distribution document items for credit managementWe can specify for each item category whether credit check is to be carried out.

Path: IMG -> Sales and Distribution -> Basic Functions -> Credit Management/Risk management-> Credit Management/Risk management Settings -> Determine Active Receivables Per Item Category.

4. Define type and scope of credit checks* Simple Credit checkA credit limit check can be carried out when sales documents are created or changed.The check is carried out within one credit control area. Simple credit check compares the Customer’s credit limit to the total of all the items in the order and the value of all open items.* Automatic Credit checkThe automatic credit check can target certain aspects during a check and run at different times during order processing.We can determine an automatic credit check for any combination of the following:- Credit Control Area- Risk Category of the Customer- Credit groupPath: IMG -> Sales and Distribution -> Basic Functions -> Credit Management/Risk management -> Credit Manageemnt -> Define Automatic Credit Control.


Now lets see an example, by creating 3 Sales orders.Check the Credit Limit for the Customer.Transaction Code: FD32

Here the Credit limit is set at 1,000,000 and the credit exposure is currently 0. Now lets start creating the orders.Transaction Code: VA01Order Value 1: 200.000,00

Create a second Order.Order value 2: 600.000,00

The credit exposure now is 800,000 ( 200,000 + 600,000 )

Create a third order.Order value 3: 300.000,00We get the following error message when we create the Order, because the total of the net document value and the open items value has exceeded the credit limit of the customer.

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