Credit Report Experts

Do you want to retire before you hit 70? Do you want to enjoy your life in your golden years?

Yes I realize that those are foolish questions. Nobody wants to get into credit card debt. Nobody wants to work a crappy job. Nobody wants to be left behind while others move on with life. Nobody wants to work a job they dont really care for past the age of 65. The problem is that when were in our 20s, the last thing we ever think about is the idea of getting old.

Have you thought about investing your money into a Roth IRA? If you dont have a pension and you dont plan ahead, you could be stuck working past the age of 65 if the world doesnt end. I explained why college students should invest in a Roth IRA already, so today I wanted to go in a different direction.

Should you even care about retirement in your 20s?

Yes I firmly support the idea of taking your retirement income planning seriously as early as you can. I personally opened up my retirement account right after I turned 18. With the power of time and compound interest on your side, you can save enough money to retire at a decent age and not have to worry about working once your body is breaking down on you.

I shared some general retirement planning tips with you guys in the past. A

Full Post…

Consumers trying to build credit for the first time often discover that few creditors are willing to take a risk on someone who lacks a credit history proving that he can successfully manage debt. Fortunately, you can build a credit profile without qualifying for a credit card or loan of your own by asking a loved one to add you as an authorized user to her credit card account. The credit card company then reports the card and its payment history on your credit report — helping you establish a credit rating. Authorized user accounts are subject to the same reporting periods as standard credit card accounts.

Full Post…

Analysts at the San Francisco Branch of the Federal Reserve have authored a research paper detailing their position that the U.S. housing construction market will not fully recover until 2014. Even this estimate, however, is based upon a generous assumption that the number of foreclosed homes will decline by 50,000 every quarter starting in 2012. The estimate also assumes the adoption of policies that will help homeowners avoid foreclosures as the market moves forward. House prices must stabilize and then begin rising before housing starts can start to improve, because it is harder for new home prices to compete with those of distressed resale homes. For more on this continue reading the following article from Economists View.

There’s a new paper from the San Francisco Fed discussing how long it will take for residential construction to rebound to normal levels. Here’s the abstract:

When Will Residential Construction Rebound?, by William Hedberg and John Krainer, FRBSF Economic Letter: Over the past several years, U.S. housing starts have dropped to around 400,000 units at an annualized rate, the lowest level in decades.

Full Post…

Here’s an inspirational story for anyone who has filed for bankruptcy and felt overwhelmed by the burden of their debt.

Resurrected NFL star Michael Vick has bounced back from a prison sentence and a Chapter 11 bankruptcy case that included $18.97 million in debts owed to creditors. At present, according to TMZ.com, he owes less than $400,000 to creditors. (To put that in perspective, Vick earned about $11 million in his most recent season playing for the Philadelphia Eagles.)

While Vick’s debts and earnings are well beyond what most of us manage to accrue, his attitude toward bankruptcy and success in powering through provide useful insight about what it takes to get past a personal bankruptcy filing.

Beat Bankruptcy the Michael Vick Way

Follow the NFL star’s path out of bankruptcy to make your own comeback after debt has gotten you down:

• Keep bankruptcy in perspective. Michael Vick filed his Chapter 11 bankruptcy case in 2008, when a conviction on dog fighting charges landed him in jail. At the time, he was viewed as a disgraced star whose career was cut tragically short. But h

Full Post…

In previous posts, we discussed how Yavapai Downs racetrack — a popular Arizona destination for both gamblers and equine enthusiasts — filed for Chapter 7 bankruptcy, citing both declining attendance and revenue.

Located in Prescott Valley and owned by Yavapai County Farm & Agriculture Association, Yavapai Downs filed for Chapter 7 liquidation in July 2011, listing $15.4 million in liabilities and $24 million in assets.

These assets consist primarily of the Yavapai Downs facilities, which include 300 acres of land, a grandstand measuring four-stories in height, a mile-long racetrack and stabling facilities for over 1,100 horses.

They also consist of the Prescott Valley Raceway (located adjacent to Yavapai Downs), the Yavapai County Fairgrounds (comprised of eight separate parcels of land 125 acres in total size), and millions of dollars in equipment.

In recent developments, the presiding bankruptcy judge who ordered the sale of all Yavapai Downs assets has set the auction date for next Tuesday.

While the auction was scheduled to take place toward the end of April, the bankruptcy trustee successfully petitioned the court to expedite the sale.

According to experts, the decision to push the sale date forward more than likely has to do with the impending start of the racing season.

Specifically, the longer Yavapai Downs sits idle, the greater the likelihood that owners, trainers and jockeys will leave Arizona looking for competition.

Full Post…