Day 58: Check your credit!

keeping you credit good and knowing your credit history is very important. today I checked my credit report at one of the three main credit bureus, exuifax. it’s a shame they are the gate keepers to a very important part of your life and they charge you $14.99 to see what is in your file.

once i paid them and opened my file i noticed my FICO score was pretty low. it’s the number that the banks go by to see if they’ll loan you money. i keep my accounts in good standing, all ways pay on time and never exceed my credit. so i was a bit surprised to see it like that.

after looking around and verifying everything i noticed a few things wrong, they had accounts open that i had closed a long time ago and most importantly i found that there are 2 collections in my name!!

the 2 items that were in collection was an old medical bill and a vet. bill for my ex girlfriends dog. problem is both of these accounts have been paid and should not be there. that’s the reason why my score was pushed so low.

at least equifax allows you to dispute items on line so i stated up an investigation to try and get these sorted out and removed.

ONE IMPORTANT NOTE:never buy your credit report from a third party. all ways go to equifax,trans union,experian. if you buy through a third party and find something is wrong you won’t be able to dispute it. in the sake of making more money for those companies they make sure you buy from them if you want to fix their mistake….

hopefully this wont take to long to resolve and once it is i must visit the two for mentioned other company’s to check and fix there as well. i would like my credit ranking to be back where it should be.

Legal to operate:

Yesterday we took the paper work down to the Delaware division of corporations, signed and submitted. It was very easy to do and to top it off it only took a few hours to get our official LLC. documents.

After we received the completed LLC. paper work we headed over to the IRS building and had to apply for a Tax ID number. it’s required for an llc. to do business and open up a bank account. That too only took a few minutes to complete.

The next step was applying for our business licence. We simply submitted our LLC. Docs and Tax Id number, filled out some more papers and received a temporary licence to do business in the state of Delaware. The permanent licence will be mailed.

With that done, It was off to the bank to open up the account. just a simple matter of showing them all the above documents, signing their papers and making a small deposit into the account.

I can’t believe It only took 5 hours to completely set up a business. For some reason it seemed it would be allot harder.

The only other thing left to do is go to the department of corps. in MD and ask permission for our Delaware Corp. to do business in that state.

Day 53.

Ads placed:

The meeting with the lawyer went great and he will have no problem closing on any Sub-to deals in De. That was a major hurdle and I’m glad to be over it. I know i will run into other problems but I can’t think of anything else that could bring me to a dead halt.

The day after the meeting I called up the major local paper and placed an ad in the Real Estate for sale section of the Dover Post and also placed one in the airforce base paper, the Airlifter.

The Ad reads:

I BUY HOUSES
any location,condition,reason.
no cost to you and fast closing.
Call for a cash offer.
555-555-5555

they should hit circulation monday. here’s to hoping my phone rings.

LLC.

the plan is to do buisness in both DE. and MD. with a partner for this reason we are forming a Limited Liabilty Company. the safest and best way to do buisness with a partner. the paper work is allready prepared and we will be heading down to the office that handles corporations to sign all the legal documents and then get our Tax ID. to open up the buisness bank account.

Deal in Md.

the deal is still a go, the buyer has contacted his bank and working on getting the loan. I still stand to make a large sum of money. I’ll post if anything comes up.