In today’s market the financial services industry can be a profitable business model due to current economic conditions as well as the lack on Financial Literacy know how. When you consider the hardships that people have experienced  over the last 4 to 5 years , it no wonder more people looking for financial solutions to begin the process of healing there financial situation and starting on the road to recovery.

Check out what the USA Today has to say about the lack of Financial Literacy in this country.

So what is the current situation with literally millions of Americans that makes a financial services business such a good choice?

• Nearly 43 Million Americans with less than a 599 credit score
• Nearly 80 Million Americans don’t even know what their credit score is
• 79% of all credit reports contain significant errors
• Today’s 20 Something’s hold an average debt of $45,000.00
• 50% of Americans don’t have a Last Will (71% being 35 yrs of age or under)
• 90% of Americans don’t have a Living Trust
• The majority of Americans don’t have Identity Theft Protection (fastest  growing crime in the country)
• According to a recent study by the  Treasury Dept and Department of Education, High School students in 2010 scored a 70% in Financial Literacy knowledge and in 2011 69%

Unfortunately these things mentioned were not and are not being taught during formal education years, yet are the basic financial essential things that people need to know in order to achieve financial success during their lifetime.

This is where Financial Education Services (FES) comes in to play. FES is a company committed to not only educating Americans on the importance of Financial Literacy but as well providing valuable tools and resources to assist with things like, the importance of maintaining and improving credit scores, understanding debt and having a system in place to eliminate it, protecting yourself both personally and financially by having identity theft and asset protection in place.

To learn more about how FES can help you take advantage of a tremendous opportunity for years to come click here > Join the Financial Education Services Team

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According to a recent report in USA Today, about 50% of Americans do not have a Last Will which including about 71% of Americans under the age of 35. Statistics also show that 90% of Americans don’t have a Living Trust as well.

When you consider the fact that we weren’t taught the importance of having these documents in place during our formal educational years it’s really not that surprising.  Financial Education Services is a company that is dedicated to teaching Americans, young and old the importance of Financial Literacy.

So Why do You Need a Will?

There are several reasons why you need a last will. You need a will if you want to leave your property to your spouse in a way different from what the state intestacy law provides, or if you want to include people who are not legal heirs, such as step-children.

You need a last will if you want to name a guardian for your minor children. Most people don’t really want their children placed into the care of a stranger. And, you need a last will if you want to name a personal representative to administer the handling of your estate.

Also, you will need a will even if you have a living trust or power of attorney. These tools, by themselves, are not a complete estate plan and do not eliminate the need for a will.

Why do You Need a Trust?

Like a corporation, a trust is regarded in law as something separate from the people who create it. Therefore, a trust can hold property, sue and be sued, enter into contracts and conduct business in its own name. The assets and liabilities of a trust are separate from the assets and liabilities of its beneficiaries. A trust can obtain its own taxpayer identification number and file its own tax returns.

When you transfer assets to a living trust, those assets no longer belong to you (even though they may be under your control if you are the trustee). It is this shifting of assets to a new owner that enables a living trust to avoid probate and avoid some kinds of creditor claims.

To learn more about how you can get a Will, Trust, Financial and Health Care Power of Attorney complete for less than $500.00 including having your data electronically stored and unlimited changes at no additional cost visit: MyCare Plan – Will and Trust

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Credit and Employment

Credit and employment has become a major issue. Some studies have shown that as much as 43% of all employers are using credit reports as part of the hiring decision process for new applicants. To date there are 7 states that have recently restricted the use of credit reports when screening job applicants and Colorado is considering taking similar action.  There is however exemptions for some job classifications such as positions that require the handling of large sums of money.

 Credit and Employment Protection

According to a recent report in the USA Today State law makers are concerned that current Federal Law doesn’t provide enough protection for consumers looking for employment. The FCRA which was enacted in 1970 requires that employers get permission prior to pulling credit.

With so many people with credit challenges (approximately 43 Million with less than a 599 credit score) and that number increasing there is a real concern that this practice is creating a segment of people that are unemployable due to bad credit that’s no fault of their own.

 Why has Credit and Employment become an Issue?

Over the last several years due to the housing crisis and high unemployment many good people have had their credit scores compromised. These are people that had great credit prior to the recession. Many of these people have had issues with steady employment, loss of second income, unpaid medical bills due to not having insurance, mounting credit card debt, bankruptcies as well as foreclosures and short sales.

 What can you do to protect yourself from Credit and Employment Issues?

First make sure you know what is on your credit report. Consumers need to review their credit report at least 4 times per year and make sure that the report is accurate. If you have credit challenges seek the advice of a professional and put a plan in place to repair your credit as best as possible to prevent yourself from being eliminated as a potential candidate for a new job or a promotion at your current job.

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Some of the debts that Asset Acceptance was trying to collect on had exceeded the statute of limitations. As a consumer it is important to understand your rights under the Fair Debt Collections Practice Act (FDCPA).

So the question “Should I pay the collection agency” depends on whether or not the collection company can legally collect on the debt.

Collection agencies have strong motivation to get your money and get it quick. This gives can give you some useful leverage when negotiating a debt settlement. Making use of your bargaining power can enable you to negotiate a better settlement and start you on the road to cleaning up your credit report once you have determined that you actually owe the debt.

Another alternative to paying a collection agency is going through a credit restoration service. By using a credit restoration service you can potentially eliminate items . Items that are on your credit report may come off as a result of the collection companies failure to validate the debt or not being in compliance with the Fair Credit Reporting Act ( FCRA) guidelines.

So the bottom line is, be sure to educate yourself before agreeing to pay a collection agency money that may not legally owed or collectable by the collection agency.

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FES National Convention

On February 10th – 12th, 2012 Financial Education Services will be holding there 3rd FES National Convention in Las Vegas Nevada.

Join us for a full weekend of fun and entertainment, combined with knowledgeable business training and education.

FES National Convention Itinerary

By attending the 2012 FES National Convention, you’ll have the opportunity to:

• Receive extensive sales training through interactive entertainment
• Understand how to build a successful business
• Meet other FES agents and FES corporate executives
• Experience unlimited networking opportunities
• Learn what’s up and coming for FES in 2012
• Be a part of our “Academy Awards” style recognition ceremony

Our host for the FES National Convention is Planet Hollywood Resort & Casino, located on the Las Vegas strip. Enjoy spacious rooms, “Dine Around the Planet” and tons of entertainment at one of the most exciting destinations Las Vegas has to offer.

Financial Education Services (FES) is a provider of high value, much need basic financial services designed to help education consumers and also provide financial protection for all consumers. FES is currently on a National expansion and seeking qualified individuals to help with spreading the importance our financial services provide.

If you are interested in learning more about how you can become a part of this National expansion and attending the 2012 FES National Convention please contact me directly at 954-707-2932 or visit Financial Education Services Opportunity.

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If you ask the everyday person out in the street you will get variety of answers. Most will tell you that by pulling your credit report your score will go down. The real answer depends on how and who is pulling your credit report. What we are really talking about when we say, “Does checking your credit score lower it?” are inquiries on your credit report. These inquiries are as a result of someone or yourself looking at your credit report.

Does Checking Your Credit Score Lower it? – The Truth

First let’s understand what an inquiry is and what types there are. An inquiry happens when someone, including you, pulls or accesses your credit file. There are two types of inquiries, a soft inquiry and a hard inquiry. A hard inquiry happens when you apply for some type of credit. For example if you are looking to buy a home and you go to the bank, complete an application for a loan, then the bank pulls your credit. Same thing as if you apply for a car loan or a credit card. Once you complete the application and the lender or finance company pulls your credit you will then have a “Hard Inquiry”.

A hard inquiry doesn’t necessarily hurt your credit score or it’s negligible if done correctly. In most cases the impact is minimal and can be as little as 5 point decrease in credit score. Let’s say again that you are looking to buy a home and in doing so you’re rate shopping to get the best possible interest rate on your home loan. You may visit 3 or 4 different mortgage lenders to see what type of rate you can get and each one pulls your credit report. In this case as long as it is done within a 45 day time frame it is viewed as a onetime event and the answer to the question; “Does checking your credit score lower it?” would be yes, but not enough to really matter.

Now let’s talk about soft inquiries. A soft inquiry has no impact on your credit report. A soft inquiry happens when you, the owner of the credit report, pull your own report. In others words, you’re not applying for credit, you’re just checking your report. A soft inquiry can also happen when a creditor that you currently have a loan or some type of financing with reviews your credit file. Many times consumers will see these on their credit report and wonder why they are on the report. These companies have the legal right under the FCRA, since they extended you credit to review your file; the important thing is there is no impact to the score because this is considered a soft inquiry.

So to answer the question, “Does checking your credit score lower it?” Yes and No. Hard inquiries are the credit reviews or credit pulls that you want to be careful with. If you have too many outside of the 45 day window then it can appear as though you are desperate for credit. One the other hand if you are personally accessing you own report, which we recommend you do at least 4 times per year or once a quarter, there is no impact and more importantly you will be up to date as to what is reporting on your credit report.

To learn more about “Does Checking Your Credit Score Lower It” and other important credit topics, visit Credit Rights

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How Long Does it Take to Improve Credit Score?

How long does it take to improve credit score is a question I get quite frequently. The answer to this question can and will depend upon the individual personal credit profile and situation. No two credit profiles are alike. There are many factors that go in to determining a person’s credit score.

The first thing I would tell you is the improvement of your credit score is NOT an overnight process. In some cases it could take as long as a year or more. In other cases it could take as little as 45 days. The key here is, when you say, how long does it take to improve credit score? What are your goals? Are you trying to increase your score by a certain number of points to meet a credit score requirement to make a purchase? Or are you trying to raises your score to the highest possible level to improve your overall financial picture?

How Long Does it Take to Improve Credit Score Strategy

So where do we start when looking to improve your credit score? Obviously you need to have a copy of your credit report to review. What exactly are you looking for when reviewing your credit report? The first thing you need to do is check your report for accuracy. Make sure that the information that is reporting is correct. Things like your name, address, social security number, employment info, residence. This information may not play a role in your score but remember this is your report and you want it to be accurate.

The next thing you want to look for is any derogatory information that might be reporting. Things like late payments, collections or charge-offs. As well you want to check the public record section of your report to see if you have any judgments or liens reporting. If you have this type of information you may need to speak with a professional Credit Restoration Service.

After you’ve checked for derogatory information reporting the next step is to check your debt to credit balances. In other words are any of your credit cards maxed out or over the limit? The rule of thumb here is to pay down your credit cards to 30% of the available balance in order to maximize your credit score. So if your credit limit is $1000.00, you want to keep your balance below $300.00. By simply doing this you can greatly increase your score in a short period of time, as long as there are no other issues with your credit report.

Another item to look at is how many and what type active accounts do you have open? How many revolving accounts, installment accounts, store credit, secured accounts…etc. Mixture of credit also plays a role in having a good credit score. This is something that can take a little time to establish but something you need to be aware of. You may need to establish addition revolving accounts (2 to 3 seems to work well). Again, remember to keep your balances below 30%.

How Long Does it Take to Improve Credit Score is a Commitment!

These are just a few on the things that will help you improve your credit score. The important thing to remember is that it’s going to take some time. By using the educational tools and resources provided by Financial Education Services and applying the knowledge you learn, you will achieve your goal. So the question really isn’t, how long does it take to improve credit score, but what do I need to do to improve my credit score, then make the long term commitment to just do it and everything else will fall into place.

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Introducing My Financial Lockbox

Financial Lockbox is an online solution that enables you to store financial data in a single, secure, password-protected location for easy access by you or loved ones that you select and authorize.

Did you know 1 out of 3 life insurance policies go unclaimed? Did you know there is over $10 Billion in lost stocks, bonds, and dividends? That $8 Billion has been wasted in unused gift cards? Or that $850 Million has gone unclaimed in 401k accounts?

If you’re like most families, one person is generally designated to handle the financial aspects of the household. Or, if you’re single, you may be the only person who knows the type and location of your financial accounts.

What if your loved ones suddenly found themselves in the position of taking over your finances without warning? Would they be able to locate insurance, bank and financial records in the event of an emergency? If your computer crashes or you have a fire – do you have complete, concise records of your financial data?

How My Financial Lockbox Can Help You

My Financial Lockbox will help you to establish a complete listing of all life insurance policies, bank accounts and other financial data – for your records, as well as an appointed contact. All of your financial documents will be organized and easily accessible at tax time. You can have peace of mind, knowing that in case of an emergency, My Financial Lockbox will be able to assist you with restoring your records.

To learn more visit: My Financial Lockbox

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Are you a student who is using multiple credit cards to make purchases while hanging around with friends? If answered yes, you must be aware that misusing your credit cards will have a trashing impact on your credit score. As a student, you have to take care of your credit score as a good credit score is important for you when you grab a job in the market. However, if you’ve taken out too many credit cards without even knowing the exact way to use it, you’re probably mistaken. If you’ve incurred too much debt on all your cards, make sure you consolidate them through a professional credit card consolidation company. Here are some benefits that you may reap.

• Assessing your present financial condition: The debt consultant who is representing the company will assess your present financial situation and the exact reason that led to high interest debt. Unless they know the state you’re in, they can never give you the right advice regarding your debt situation. As your fiscal situation will be assessed by your debt consultant, you can receive the best benefit out of their advice.
• Negotiations on your behalf: Being a student, you must be very busy with your studies and you may find no time to negotiate with your creditors and speak about the interest rates. However, if you enroll yourself with a credit card consolidation company, you won’t have to negotiate with them as the debt consultant will do that on your behalf.
• Lower interest rates: The most prominent reason behind the rising defaults on credit card debt is the outrageously high interest rates. The debt consultant will negotiate with your creditors and lower the interest rates on your cards so that you can easily repay the loan in small and affordable monthly payments. Being a student, you should make sure you get low interest rates on the accounts so that repayment becomes easier for you.
• Single monthly payment: Instead of making multiple payments to multiple creditors, you have to make a single monthly payment to the credit card consolidation company so that the payments are disbursed to your creditors in due time thereby making you debt free in the near future.

Therefore, if you’re student, you should make sure that you maintain a good credit score so that the employers don’t turn you down while hiring employees for their organizations. Get help from a credit card consolidation company so that you can easily get back a firm grip on your finances and make ends meet.

Author’s Bio: Martha Jackson loves to write financial articles and she is a contributory writer associated with the Debt Consolidation Care Community and has written several articles on debt consolidation, debt settlement and get out of debt for various financial websites. She holds her expertise in the Debt industry and has made significant contribution through her various articles.

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Negative items have a specified time frame that they can be reported to your credit report. It is improtant to understand what the time frame is as well as what the Fair Credit Reporting Act requirements are for the item to be reported.

Negative credit accounts, or trade lines, can remain on your credit report for up to 7 years, and bankruptcies and other public records for up to 10 years. Inquiries on your credit report may remain for 2 years. These are the maximum times that are permitted by federal law for reporting agencies to show negative items; however, the important thing to remember is that these are not mandatory. At any time, a creditor or credit bureau may remove a derogatory remark from your credit report if the consumer requests an investigation into remarks that they feel are incorrect and it is determined that the information is obsolete, inaccurate, erroneous or unverifiable.

For more information visit Credit Restoration Service

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