New CoreScore credit report tracks more personal data than ever
News from Michigan Business Review – MLive.com:

Chris Palmer, a credit counselor at Greenpath Debt Solutions in Portage, discusses bankruptcy with a client on Thursday, Feb. 9. Debt counselors and poverty advocates are concerned a new credit score, CoreScore, will adversely affect lower-income families when it rolls out in March.

KALAMAZOO – It’s time to check your credit score.

Starting in March, Americans will be getting a brand-new number — one that’s based on information that banks typically haven’t had access to when deciding whether to offer someone a mortgage or credit card.

The new CoreScore, which rolls out March 30 in a partnership between CoreLogic and FICO, tracks data such as whether people have paid their rent and utilities on time, whether they have a child-support judgment against them, if they have applied for a payday loan (and repaid it) and whether they have ever been evicted. It also tracks whether a homeowner is underwater on his or her mortgage, meaning they owe more than the house is currently worth, or if they’ve paid their association dues or had a lien placed against the property.

“It’s going to be a change,” said Dorot…………… continues on Michigan Business Review – MLive.com

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Ten Top Tips: Get paid
News from Management Today:

By Max Firth Friday, 17 February 2012

Experian’s data shows that at the end of 2011, firms were waiting an average of nearly 26 days on top of their agreed payment terms to pay their bills. What’s more, 1,756 companies went under each month during the last year, leaving it up to administrators to determine whether previous commitments would be made in part or at all.

It is vital that firms place as much emphasis on getting paid as they do on securing the business in the first place. While sales and delivery are important, they are meaningless if you are not getting any reward for your product or service.

Here are ten ways that British businesses are making sure they get paid and remain financially strong and successful.

1. Avoid the wolves in sheep’s clothing

It sounds obvious, but make sure you are dealing with a real business. Establish whether you are dealing with a sole trader or a limited company and validate your findings against what you have been told. Conduct a site visit where possible. You can even use tools such as Google maps to confirm an address.

2. Find out whether they pay or delay

Having established that they do actually exist, obtain a credit report for all potential customers, suppl…………… continues on Management Today

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