Fargo Wells Financial

Fargo Wells Financial | Federal Student Loans

admin — Thu, 27 Nov 2008 01:52:09 +0000

What Loan company will take over my federal student loans when the loans are in forbearance so I can go back to school? Is this something that Wells Fargo can help with in their financial departments.

My loans are government loans from Saillie Mae. I owe them under $5000.
I heard about this company that will take over your school loans from them but I don’t know the name of the company. Not Sure whether this is Fargo Wells Financial though?

No one will “take over” your loans. You will still owe the money to your lender when you are in forbearance. They will simply add interest every month while you are making payments.

If you are asking about defaulting the lender will just contract out with a collection agency to start calling and hounding you to mail them payments. If you make 6 to 12 months worth of willing and reasonable payments you can ask your lender to “rehabilitate” your loan. This is when you are issued a new loan and pay off the one in default so you can get federal fin aid again. Again, rehabilitation can only be done after you have made 6 to 12 months of payments.

How many credit cards should you have to rebuild credit?

admin — Thu, 27 Nov 2008 01:52:05 +0000

I am trying to rebuild my credit after ID theft, a couple of problems that were mine and years of basically not having any credit reported. (I primarily use my debit card and pay cash for everything). I make good money now and am trying to rebuild in order to purchase a condo in the next couple of years. My good accounts (rental, club, cable, cell, etc.) have not reported my good credit. So how many cards should I take out that will help boost my credit score but not hinder my credit. Thank you!

I would take out no more than 2. I would start out with a secured card. Granted you would have to put a deposit upfront to secure a line of credit, but the deposit would also garner interest while you're proving your creditworthiness. You could start out small, like $200-300 or larger like $1000-2000. Either way, I strongly suggest you to continue to use your debit card and pay cash like you've been doing, and make small purchases that you can pay off in full every month (around $20-50). I would only use the credit card in dire emergencies. After the secured card becomes unsecured, then you could receive offers for other cards, but chances are just the one card could work just as well. Be sure to dispute anything that was involved in the identity theft and make sure that you have a POLICE REPORT. Your "good accounts" (rental, club, cable, cell, etc.) CAN be reported through this reporting agency called PRBC. (http://prbc.com/default.php?) This is for REAL. You can have your good credit reported and complied in a scored report that can be considered with your traditional credit reports. It's become increasingly popular and I'm certain that it will help you out immensely.

What is the difference between an accounting clerk, accounting technician and staff accountant?

admin — Thu, 27 Nov 2008 01:51:56 +0000

I was so happy that I found a job in public accounting, however, they gave me an "Accounting Technician" title and I am pursuing a professional accounting designation. Will I ever get a chance to become a "Staff Accountant" instead?

Is "Accounting Technician" a position below what a Business degree in Accounting graduate should be getting?

Like I am in a three months probation, do you think after three months if i can pass the probation, then I can become a "Staff Accountant"?

Thank you.

From a UK perspective we have three or four categories:

Unqualified
Qualified by experience
Accounting Technician
CCAB Qualified Accountant

Accounting Technician is a distinct qualification offered by The Association of Accounting Technicians.

Qualified Accountants are usually Chartered Accountants, Chartered Management Accountants, Chartered Certified Accountants or Chartered Public Finance Accountants

Qualified Accountants qualification is more advanced than a degree.

Hope this helps

What are the Banking online advantages over regular banking. Why would it be attractive to people?

admin — Thu, 27 Nov 2008 01:51:52 +0000

What conveniences are offered? Is it safe, or will other people get access to your accounts? How does the bank guarantee that your financial and personal information is secure? What are the different services offered, and the requirements needed to obtain the privilege of on-line banking over the Internet? Also, please explain which feature you personally find the best. Is there a bank you would prefer over others? Why?
Please help me out i have a project to do

You can move money between internal and external accounts and pay bills anytime of the day or night, and set up regular monthly billpays or savings, sitting at home on your fat butt, without having to drive to some certain bank branch during the work day.

And savings often get better interest rates.

And you can often get a free online account with a bank that otherwise charges a monthly fee for a checking account.

Can I get a refinanced mortgage if i start a home business with no employees and still work my regular job?

admin — Thu, 27 Nov 2008 01:51:48 +0000

I want to refinance my mortgage and I want to start a home business before doing so. It would have no employees and I would still keep my current job. My home business will not require any due balances or credit lines to increase my debt. Would mortgage companies see the worry that I would quit my regular job or would they trust that I would maturely handle the mortgage payments? In other words, would I have no problems getting refinanced under these conditions. My credit score is about 650 and I've been at my current job for 1 1/2 years but have had steady employment for a long time. I have also paid my mortgage on time for 12 months.
The reason I am asking is because what I will be doing requires a vendor license. Therefore, in my ssn, it would show the business based at my home address.
I am actually looking for a new mortgage loan, not a home equity loan or personal loan and I don't need to borrow to pay debts.

i do not see any problem with you getting the refinance and i would not worry about the business end affected it!!!

How does online banking work. Does my bank print a check and mail it to the payee?

admin — Thu, 27 Nov 2008 01:51:43 +0000

Or is money wired to the payee from my bank? Doesn't online banking cost the bank money? How come banks don't charge for this service. I'm not naive I know they pass on the cost to me but how?

Online banking is a bigger term than simply online bill pay. There are several ways your bank can pay your payee – one is that they simply mail a check. The other, if they do a lot of business with the payee, is to simply make an electronic payment (ACH) to your payee – usually places like your electric company. Another way, if the payee banks at the same bank, is to simply deposit money to the payee's account at the bank.

Any of these cost the bank no more than if you had written a paper check or had initiated an ACH/wire transfer and in some cases, costs them less.

Some banks offer these services for free, others don't. One of my banks charges me about $0.65 to send a check from the bank but doesn't charge me to electronically pay someone. Another of my banks charges nothing to send a check but they don't like doing an ACH so they charge me for that.

In the long run, nothing at a bank is free – it will be paid for somehow. Usually with banking fees.

How exactly are stock obligations wraught in consequence to corporate buyouts/mergers etc.?

admin — Thu, 27 Nov 2008 01:51:38 +0000

In other words, if company Y was to buy out company X for price P, how many shares N does it buy of company X?
How is this decision reached to by N shares at price P?
How can they maintain the buyout agreement stock price P amid the surge of demand volume they induce? That is, if they are planning on buying N amount of stock, how are they able to do this without significantly causing the stock price to increase?
Who do they buy it from? the Shareholders and/or insiders?

Here is an excellent site with some wonderful options for you to double your stock!

How much money has passed thru your hands in a lifetime?

admin — Thu, 27 Nov 2008 01:51:33 +0000

If you had to guesstimate on average, including birthday money from relatives, your income from your job, graduation money, money from selling items, tax refunds, – not including credit cards, just cash, checks, and deposits into your checking accts. Money that has always been rightfully yours… How much do you think has passed through your hands. Give me a numeric answer. Would you consider yourself to be a millionaire today if you had saved it?

I would say around 40-50k. It was my first time cash out $4,000 in cash from the bank last week from my online business too. LoL It is nice to see they count $100 40 times. xD

Not a millionaire yet but soon will be if I keep banking this much with my online venture. If you are interest, just drop me a message

How is work in the investment industry like?

admin — Thu, 27 Nov 2008 01:51:28 +0000

Hi, I am considering a career switch to the investment industry from an engineering career. I am considering of taking up the CFA program to equip myself with the technical skills required for this industry and at the same time, to enable me to step foot into this industry.

But before I decide whether to enroll in the CFA program, I would like to find out if this industry is really suitable for me.(I do not have any friends working there).

Is there anyone who is working in the investment industry who is willing to share with me his experiences and how the work there is like? Especially people who are in same situation as me (who made a career switch) ?

Also, I'm quite interested in research and analysis of stocks and equities, and I'm strong in numerical aptitude. What kinds of jobs are there available in the investment industry that will allow me to utilize this strength?

Thank you for your replies in advance!

Give me an e-mail. I have a CFA charter and have worked in equities for more than a decade.

There are lots of different types of work in "investments" from trading, to sales, to research, to syndication, to private equity, to fund management and on and on.

The most likely sub-segment that would need technical skills is the following:

a) Research. This is where you do buy-sell-hold recommendation reports on company. You can work for either the equity side (stock analyst) or bond side (credit analyst). Then you can work for either the buy-side (mutual funds, insurance, hedge funds) or sell-side (brokerage). Typically, you need a thorough background in accounting, a good background in finance (as evidence through CFA program) and then an industry background that gives you a leg up when giving research on a specific industry. For example, your typical pharmaceutical analyst for brokerage has an MD. It isn't required, but it does help, especially for more technical industries like medical, technology and energy. Long, long, long hours. Bad job security. Very, very competitive. Bonuses can be very good. Politics can be very tough. You must be kind of a know-it-all freak (like me) in order to really enjoy this job. I am and I did.

b) Corporate Finance. Instead of doing agency work, you're doing primary work. You're doing lots and lots of pitch books to land deals to underwrite IPOs, equity placements or debt placements. Once you win a deal, then you then do lots and lots of writing for the Red Herring/Prospectus. Job can be repetitive. Travel can be large %. Pay can be very, very good.

c) IT back-end. This is only if you're hard core software engineering type. This is where you use your knowledge of finance to help design software. This is the flip side. Pay can be outstanding.

What type of non-financial information is helpful in constructing the budget model?

admin — Thu, 27 Nov 2008 01:51:22 +0000

How is non-financial information used to calculate financial information? What advantages does the inclusion of non-financial information have in communicating tactics to make the financial goals?

Every financial assumption is based on non-financial data. For example, how many employees are on the payroll? What is an average percentage raise you will give this year? Are you going to hire anybody new? If so, at what rate? When are you expecting to get that big insurance refund? When do you pay your property taxes? How much will they be? What will the management bonus be this year? When will it be paid? What interest rate is associated with your loan? Can you get a better rate from another financial institution? If you don't know, how soon do you intend to shop that?

A budget is nothing more than quantifying your operational business plan for the year. Any fool that says "the accountants don't need to know that" is going to end up with an inaccurate budget.