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<!--Generated by Squarespace Site Server v5.9.1 (http://www.squarespace.com/) on Tue, 09 Feb 2010 16:47:52 GMT--><rdf:RDF xmlns:rdf="http://www.w3.org/1999/02/22-rdf-syntax-ns#" xmlns:rss="http://purl.org/rss/1.0/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:sy="http://purl.org/rss/1.0/modules/syndication/" xmlns:admin="http://webns.net/mvcb/" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:cc="http://web.resource.org/cc/"><rss:channel rdf:about="http://www.mujerescaminoalexito.com/entrepreneur-resources/"><rss:title>RESOURCES</rss:title><rss:link>http://www.mujerescaminoalexito.com/entrepreneur-resources/</rss:link><rss:description></rss:description><dc:language>en-US</dc:language><dc:date>2010-02-09T16:47:52Z</dc:date><admin:generatorAgent rdf:resource="http://www.squarespace.com/">Squarespace Site Server v5.9.1 (http://www.squarespace.com/)</admin:generatorAgent><rss:items><rdf:Seq><rdf:li rdf:resource="http://www.mujerescaminoalexito.com/entrepreneur-resources/2009/3/1/get-your-business-on-the-list.html"/><rdf:li rdf:resource="http://www.mujerescaminoalexito.com/entrepreneur-resources/2008/7/14/a-world-of-help-at-your-fingertips.html"/><rdf:li rdf:resource="http://www.mujerescaminoalexito.com/entrepreneur-resources/2008/6/28/making-small-business-ownership-a-reality.html"/><rdf:li rdf:resource="http://www.mujerescaminoalexito.com/entrepreneur-resources/2008/5/19/newsweek-cover-growing-up-bipolar.html"/><rdf:li rdf:resource="http://www.mujerescaminoalexito.com/entrepreneur-resources/2008/5/15/women-and-depression.html"/><rdf:li rdf:resource="http://www.mujerescaminoalexito.com/entrepreneur-resources/2008/5/15/teaching-children-to-eat-right.html"/><rdf:li rdf:resource="http://www.mujerescaminoalexito.com/entrepreneur-resources/2008/4/14/10-credit-card-myths.html"/></rdf:Seq></rss:items></rss:channel><rss:item rdf:about="http://www.mujerescaminoalexito.com/entrepreneur-resources/2009/3/1/get-your-business-on-the-list.html"><rss:title>GET YOUR BUSINESS ON THE LIST</rss:title><rss:link>http://www.mujerescaminoalexito.com/entrepreneur-resources/2009/3/1/get-your-business-on-the-list.html</rss:link><dc:creator>Paula</dc:creator><dc:date>2009-03-01T01:17:28Z</dc:date><dc:subject></dc:subject><content:encoded><![CDATA[<p style="margin: 0in 0in 0pt;"><span style="font-size: 10pt; color: black; font-family: Arial;">Hispanic Business(R) Magazine Announces the Commencement of Hispanic Business 500(R) Nominations </span></p>
<p style="margin: 0in 0in 0pt;">&nbsp;</p>
<p style="margin: 0in 0in 0pt;"><span style="font-size: 10pt; color: black; font-family: Arial;">The June 2009 issue of Hispanic Business magazine will feature the 27th annual Hispanic Business 500, the 500 largest Hispanic-owned companies in the </span><span style="font-size: 10pt; color: black; font-family: Arial;">United States</span><span style="font-size: 10pt; color: black; font-family: Arial;">.</span></p>
<p style="margin: 0in 0in 0pt;">&nbsp;</p>
<p style="margin: 0in 0in 0pt;"><span style="font-size: 10pt; color: black; font-family: Arial;">The annual Hispanic Business 500 directory is widely recognized as the barometer of the U.S. Hispanic Economy. We would like to include you for consideration in not only the HB500 but also for the publication of the 100 Fastest Growing and the Top 50 Exporters lists.</span></p>
<p style="margin: 0in 0in 0pt;">&nbsp;</p>
<p style="margin: 0in 0in 0pt;"><span style="font-size: 10pt; color: black; font-family: Arial;">Previous companies, ranging from $1 million to over $3 billion, have been included.</span></p>
<p style="margin: 0in 0in 0pt;">&nbsp;</p>
<p style="margin: 0in 0in 0pt;"><span style="font-size: 10pt; color: black; font-family: Arial;">Click on the following link to submit your nomination for the Hispanic Business 500: <a href="http://www.hispanicbusiness.com/research/500/nomination.asp">http://www.hispanicbusiness.com/research/500/nomination.asp</a> </span></p>
<p style="margin: 0in 0in 0pt;">&nbsp;</p>
<p style="margin: 0in 0in 0pt;"><span style="font-size: 10pt; color: black; font-family: Arial; mso-fareast-font-family: &quot;Times New Roman&quot;; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">The deadline for submission is </span><span style="font-size: 10pt; color: black; font-family: Arial; mso-fareast-font-family: &quot;Times New Roman&quot;; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">Friday, March 13, 2009</span><span style="font-size: 10pt; color: black; font-family: Arial; mso-fareast-font-family: &quot;Times New Roman&quot;; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">. Please contact Michael Caplinger, Research Supervisor</span><span style="font-size: 12pt; font-family: &quot;Times New Roman&quot;; mso-fareast-font-family: &quot;Times New Roman&quot;; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;"><span style="color: #000000;"> <span style="font-size: 10pt; color: black; font-family: Arial; mso-fareast-font-family: &quot;Times New Roman&quot;; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">Michael.Caplinger@hbinc.com or by phone at 805-964-4554 ext. 605</span></span></span></p>]]></content:encoded></rss:item><rss:item rdf:about="http://www.mujerescaminoalexito.com/entrepreneur-resources/2008/7/14/a-world-of-help-at-your-fingertips.html"><rss:title>A world of help at your fingertips</rss:title><rss:link>http://www.mujerescaminoalexito.com/entrepreneur-resources/2008/7/14/a-world-of-help-at-your-fingertips.html</rss:link><dc:creator>Paula</dc:creator><dc:date>2008-07-14T22:30:11Z</dc:date><dc:subject></dc:subject><content:encoded><![CDATA[<P editor_id="mce_editor_0"><EM><SPAN class=full-image-float-left class="full-image-float-left"><IMG alt=globe.girl.jpg src="http://www.mujerescaminoalexito.com/storage/globe.girl.jpg" mce_real_src="http://www.mujerescaminoalexito.com/storage/globe.girl.jpg"></SPAN>By Montserrat</EM></P>
<P editor_id="mce_editor_0">This series of articles are meant to give some guidance to the Latina Entrepreneur on her road to owning her own business. </P>
<P>Back from 4<SUP>th</SUP> of July weekend and fully recovered, I wanted to begin this column by saying that there are oceans of information out there for all of you who are considering, working towards or actually owning their own business. I will try to cover as much material as possible through this series of articles. </P>
<P>This week we will ask ourselves a key question about owning our business: Is entrepreneurship for you? This is extremely important. When we seriously consider a change in our lives, we must not simply “jump the boat” and run amuck in a world full of chances. Chances are that we will be at the very least: confused. </P>
<P>So, is entrepreneurship for you? How can we answer that question? </P>
<P>The U.S. Small Business Administration (SBA) was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns. On their website (www.sba.gov) we find the following string of questions that will open your eyes to the reality and the responsibility of owning your own business. But please, please… do not feel discouraged. This agency will always help you keep your feet on the ground, for the mind will fly to the heavens and beyond, but reality is different. Yet, if we can conquer reality, the rest is downhill. </P>
<P>Now let us see these questions, and remember to answer them as honestly as you possibly can. These answers are for you, and only you know how accurate your responses will be. </P>
<UL>
<LI>Are you a self-starter? Can you begin projects on your own, without having anyone push you around to get things done? </LI>
<LI>How well do you get along with different personalities? Not everyone is a bowl of strawberries. You will have to handle a variety of people including customers, vendors, staff, bankers, etc. </LI>
<LI>How good are you at making decisions? Small business owners are required to make decisions constantly - often quickly, independently, and under pressure. This is you, working for you, through you. </LI>
<LI>Do you have the physical and emotional stamina to run a business? Well, historically this has never been an issue for Latinas. We are empowered by our heritage. </LI>
<LI>How well do you plan and organize? Good organization &shy; of financial, inventory, schedules, and production &shy;can help you avoid many pitfalls. </LI>
<LI>Is your drive strong enough? Running a business can wear you down emotionally. Strong motivation will help you survive slowdowns and periods of burnout. </LI>
<LI>How will the business affect your family? The first few years of business start&shy;up can be hard on family life. It's important for family members to know what to expect and for you to be able to trust that they will support you during this time. There also may be financial difficulties until the business becomes profitable, which could take months or years. You may have to adjust to a lower standard of living or put family assets at risk in the short-term. </LI></UL>
<P>Now go and dry yourself from this bucket of cold water, but think about this. You are not reinventing the wheel. You only have to learn how to use what has been proven already. Ponder on these questions for a while and next week we will take one more step closer to our final goal. </P>
<P>See you then! </P>]]></content:encoded></rss:item><rss:item rdf:about="http://www.mujerescaminoalexito.com/entrepreneur-resources/2008/6/28/making-small-business-ownership-a-reality.html"><rss:title>Making small business ownership a reality</rss:title><rss:link>http://www.mujerescaminoalexito.com/entrepreneur-resources/2008/6/28/making-small-business-ownership-a-reality.html</rss:link><dc:creator>Paula</dc:creator><dc:date>2008-06-28T02:18:14Z</dc:date><dc:subject></dc:subject><content:encoded><![CDATA[<p style="text-align: left" align="left"><em>By Montserrat</em></p><p>I love to hear stories about people who beat all the odds to achieve their dream. Somehow, it puts my dream within reach of me. For example last week while driving to work I heard an interview on National Public Radio about this woman who volunteered to work for the Peace Corps. She was sent to an island near Portugal where she met with local women: mothers, daughters, wives. </p><p>These women, due to a weak local economy, lack of jobs, education found themselves destitute, alone, and powerless. This woman made it her mission to change that. With little to no knowledge of the language she helped these women find out their niche to start a small business. Starting with what the local women knew, she found out many of them were master seamstresses who made beautiful clothes. By starting small enterprises in a few years they all went from poor and powerless, to powerful, professional women who owned their own cooperative and educated themselves in the language of the business. </p><p>Here, in this country, we all have dreams of being self-sufficient and of doing something that makes us proud. However, when choosing to go the entrepreneurial route, sometimes the hard part is to find that niche. In other words, meet a consumer need nobody else is. When trying to identify what kind of business to start many experts suggest going with what you know. Define your vision and from there develop how your idea will be implemented. For this there are multiple community resources available and the best part &hellip; they&rsquo;re free! </p><p>One of my favorite websites is <a href="http://www.sba.gov/">www.sba.gov</a>, not only is it user friendly but it guides you through the process of what really goes into starting your own business. From services to local resources, it&rsquo;s all easy access. If your dream is to be a small business owner,&nbsp;reach out to your local agency for help and keep checking in with Mujeres camino al <span style="font-size: 12pt; font-family: 'times new roman'; mso-fareast-font-family: 'times new roman'; mso-ansi-language: en-us; mso-fareast-language: en-us; mso-bidi-language: ar-sa"><font style="color: #000000" color="#000000">&eacute;</font></span>xito where you will find topics in Entrepreneurs Corner regularly as well as collaborations from the experts and the stories of the Mujeres that are making their dream a reality.</p>]]></content:encoded></rss:item><rss:item rdf:about="http://www.mujerescaminoalexito.com/entrepreneur-resources/2008/5/19/newsweek-cover-growing-up-bipolar.html"><rss:title>NEWSWEEK Cover: Growing Up Bipolar</rss:title><rss:link>http://www.mujerescaminoalexito.com/entrepreneur-resources/2008/5/19/newsweek-cover-growing-up-bipolar.html</rss:link><dc:creator>Paula</dc:creator><dc:date>2008-05-19T00:37:36Z</dc:date><dc:subject></dc:subject><content:encoded><![CDATA[<p><span class="full-image-float-left"><img style="width: 142px; height: 192px" alt="newsweek.jpg" src="http://www.mujerescaminoalexito.com/storage/newsweek.jpg" /></span>Parents must choose between two wrenching options: treat their children and risk a bad outcome, or don't treat and risk a worse one. No matter what they do, they are in for uncertainty and pain. Carmichael reports on the dilemma by telling the wrenching story of one family, Amy and Richie Blakeand their 10-year-old son Max, who was diagnosed with bipolar disorder when he was two years old.<br /><br />She reports that Max was seven the first time he tried to kill himself. He wrote a four-page will bequeathing his toys to his friends and jumped out his ground-floor bedroom window, falling six feet into his backyard, bruised but in one piece. Children don't really know what death is, as the last page of Max's will made clear: &quot;If I'm still alive when I have grandchildren,&quot; it began. But they know what unhappiness is and what it means to suffer.<br /></p><p>On a recent Monday afternoon, Max, now 10, was supposed to come home on the schoolbus, but a counselor summoned his mother at 2:15. When Amy Blake arrived at school, her son gave her the note that had prompted the call. &quot;Dear Mommy &amp; Daddy,&quot; it read, &quot;I am really feeling sad and depressed and lousy about myself. I love you but I still feel like I want to kill myself. I am really sad but I just want help to feel happy again. The reason I feel so bad is because I can't sleep at night.<br /></p><p>And dad yells at me to just sleep at night. But, I can't control it. It is not me that does control it. I don't know what controls it, but it is not me. I really really need some help, love Max!!!!! I Love you Mommy I Love you Daddy.&quot;<br /></p><p>At 10, Max Blake has been on 38 different psychoactive drugs, Carmichael reports. The meds have serious side effects. They have made Max gain weight, and because he's still growing, they frequently need to be changed. The Blakes are aware that many people think their child -- any child -- should not be on so many drugs. They aren't always happy about it either. But to some degree, they have made their peace with medication.<br /><br />&quot;He's oppositional-defiant, he's dyslexic, he's ADHD, he's OCD,&quot; says Amy. &quot;Give me an initial and he has it.&quot; Bipolar children, especially those diagnosed early, often have such a litany of disorders. The bipolar brain tries to compensate for its weak prefrontal cortex by roping in other areas to help; these areas may now become dysfunctional, too. Child psychiatrists thus face an enormous practical challenge: they often can't treat one disorder without affecting another one. &quot;It's like a balloon where you push on one side and the other side pops out,&quot; says Janet Wozniak, the Massachusetts General Hospital psychiatrist who helped define childhood bipolar disorder. With kids like Max, she adds, parents often have to settle for &quot;just having one part of the symptoms reduced.&quot;<br /></p><p>Max's life has improved in some ways since his early childhood. The Manville School, part of the Judge Baker Children's Center in Boston, has given him a social life. Last year he won a &quot;Welcome Wagon&quot; award after teachers noticed he was always the first to show new students around. When his classmates have outbursts of their own, he talks them down. &quot;He'll say that maybe they need to take some space, take a deep breath, leave the classroom,&quot; says his teacher, Julie Higgins.<br /><br />He has not, however, figured out how to talk himself down, and for all he has progressed as a classmate, he struggles as a student. Technically, Max is in fourth grade -- Manville does not separate grade levels -- but he is behind in some subjects. He loves science and art, but he has a hard time reading, and although he is creative, he can't put his ideas in a coherent order. Even holding a pencil for more than a few minutes can be a challenge. &quot;Sometimes you can look at him and you know his disorder has captured him,&quot; says the school's director, Jim Prince. &quot;But we can't abandon him. We have to be able to hold on to him, sometimes literally, but also emotionally, to help him come out on the other side.&quot;<br />Read cover story at <a href="http://www.newsweek.com/" target="_new">http://www.Newsweek.com</a>. <span class="storyCaptionTitle">Article in&nbsp;the May 26 issue of Newsweek ( on newsstands Monday, May 19</span>)</p>]]></content:encoded></rss:item><rss:item rdf:about="http://www.mujerescaminoalexito.com/entrepreneur-resources/2008/5/15/women-and-depression.html"><rss:title>Women and depression</rss:title><rss:link>http://www.mujerescaminoalexito.com/entrepreneur-resources/2008/5/15/women-and-depression.html</rss:link><dc:creator>Paula</dc:creator><dc:date>2008-05-15T22:25:11Z</dc:date><dc:subject></dc:subject><content:encoded><![CDATA[<p><a href="http://www.mujerescaminoalexito.com/storage/FINALWomensDepressionBrochure.pdf"><em>Women and Depression</em> </a>is a new brochure about the many dimensions of major depression in women. </p><p><span class="full-image-float-left"><img style="width: 150px; height: 336px" alt="womenDepression.jpg" src="http://www.mujerescaminoalexito.com/storage/womenDepression.jpg" /></span></p><p>Some facts:</p><ul><li>- An estimated one in eight women will experience depression in their lifetimes; twice the rate as men, regardless of race or ethnic background. </li><li>- Middle-aged Hispanic women have the highest rate of depressive symptoms, followed by middle-aged African American women. </li><li>- Young Asian American women have the highest rate of younger groups and the 2nd highest rate of suicide among 15 to 24 year olds. American Indians and Alaska Native adolescents are the most likely to attempt suicide and die from it. </li></ul><p>Visit <a href="http://www.nami.org/">www.nami.org</a> for more information and support.</p>]]></content:encoded></rss:item><rss:item rdf:about="http://www.mujerescaminoalexito.com/entrepreneur-resources/2008/5/15/teaching-children-to-eat-right.html"><rss:title>Teaching children to eat right</rss:title><rss:link>http://www.mujerescaminoalexito.com/entrepreneur-resources/2008/5/15/teaching-children-to-eat-right.html</rss:link><dc:creator>Paula</dc:creator><dc:date>2008-05-15T03:22:09Z</dc:date><dc:subject></dc:subject><content:encoded><![CDATA[<p><font size="2"><span class="full-image-float-left"><img style="width: 209px; height: 279px" alt="babyhealth.jpg" src="http://www.mujerescaminoalexito.com/storage/babyhealth.jpg?__SQUARESPACE_CACHEVERSION=1210822341558" /></span>Eating habits in children&nbsp;form as early as age 3, according to Monica Montes, a Los Angeles-area registered dietitian and co-founder of N.E.W. Health Consultants, Inc,&nbsp;this means the preschool years are an important developmental window for parents.</font></p><p><font size="2">Monica offers the following tips so that families -- parents, grandparents and others present at mealtimes -- can prepare for these changes and respond appropriately. <br /><br />-- Gradually introduce new foods one at a time, realizing that it can take <br />up to 15 tries before the child accepts it. <br />-- Try to add just one new food to a meal with three or so healthy foods <br />your child already enjoys. <br />-- Be sure to include new foods on your own plate. <br />-- Offer nutrient-rich foods from all the food groups, including low-fat <br />milk, vegetables, whole-grains and fruits. <br />-- Trust your preschooler's stomach, they will naturally regulate the <br />amount they eat. <br />-- Eat meals together as a family to model healthy habits. </font></p><p><font size="2">To help families, Meals Matter, <a href="http://www.mealsmatter.org/">http://www.mealsmatter.org/</a> a nutrition website developed by registered dietitians at Dairy Council of California, offers an informational series in English and Spanish specifically for families with preschool-aged children.</font></p>]]></content:encoded></rss:item><rss:item rdf:about="http://www.mujerescaminoalexito.com/entrepreneur-resources/2008/4/14/10-credit-card-myths.html"><rss:title>10 Credit Card Myths</rss:title><rss:link>http://www.mujerescaminoalexito.com/entrepreneur-resources/2008/4/14/10-credit-card-myths.html</rss:link><dc:creator>Paula</dc:creator><dc:date>2008-04-14T01:08:53Z</dc:date><dc:subject></dc:subject><content:encoded><![CDATA[<span class="sizeLess20">By Linda Ferrari, President, Credit Resource Corp.</span><br /><br /><span style="font-size: 12px; font-family: arial"><p><span class="full-image-float-left"><img style="width: 118px; height: 99px" alt="cautionsign.jpg" src="http://www.mujerescaminoalexito.com/storage/cautionsign.jpg" /></span>Managing your credit is a long and sometimes confusing process. It seems everywhere you look, some program or web site offers credit fixes, offers and deals that make it seem so easy to consolidate debt or, worse, get &quot;easy credit&quot; to buy the things you need. They offer &quot;free credit analysis&quot; &ndash; many of which will most likely lead you down a path of credit destruction. Most of what is out there is just plain misinformation and contradicts the steps you are taking to improve and maintain your credit scores. The best defense against making a credit blunder is to better educate yourself about credit and ways to manage it.</p><p>Consumers and credit professionals wage the battle for credit education and improvement on several fronts. Initially, I want to help you become aware of the fact that credit scores and reports hold the key to all hopes of obtaining financial freedom, the best rates on home and auto loans, and of course, the American dream. I understand the system and I know how you can benefit from taking the smartest steps. If I do my job well for you, I will help educate you on the factors that make up your score, ways to navigate the system, and how to get and keep good credit. </p><p>One of the ways I can help you avoid the traps of dangerous credit mistakes is to challenge 10 common credit card myths. Once you learn the truth behind these myths, you'll be in a more knowledgeable position to distinguish between positive credit options and negative credit advice that can destroy your credit scores.</p><p><strong><u>Myth #1: You Should Avoid Using Credit Cards</u> &ndash; FALSE!</strong></p><p>This is just unbelievable! <a href="http://www.americanchronicle.com/articles/viewArticle.asp?articleID=18958" target="_blank">Click here</a> to read an article in the January 10, 2007 issue of <em>American Chronicle</em> that actually advocates that consumers stop using their credit cards, pay off everything, and go to an all-cash plan. That may be a good way to get rid of debt, but it's utter destruction to your credit score. Why? Because per Fair Isaac, the creator of the credit scoring system, there are 5 factors that make up your credit score, one of which is how you use and manage your credit card debt &ndash; a factor that makes up 30% of your score. That's 255 points! </p><p>In order to prove to the scoring system that you know how to manage revolving debt, you MUST have active credit card accounts. Use your cards every month, for groceries, gas, etc. and pay them off every month. If you do not have a credit card at this time and your scores are under 650, immediately apply for an on-line secured credit card at one of the following banks: <a href="http://www.orchardbank.com/" target="_blank">www.orchardbank.com</a> or <a href="http://www.firstpremierbankcards.com/" target="_blank">www.firstpremierbankcards.com</a>. If your scores are high enough (ask your bank what the score requirements are), you may want to consider going to your bank to apply for a card. Exception: Do not apply for credit of any type when you are about to enter into or have already entered into a loan transaction. New credit temporarily brings down your score due to the debt and the new account.</p><p><a href="http://www.columbusdispatch.com/homegarden/homegarden.php?story=dispatch/2007/01/28/20070128-I4-01.html" target="_blank">Click here</a> to read another article advising consumers not to use their credit cards.</p><p><a href="http://www.bestsyndication.com/?q=012307_credit_card_debt_elimination.htm" target="_blank">Click here</a> to read yet another article advising consumers to use cash instead of credit cards.</p><p><strong><u>Myth #2: Consolidating Debt Onto 1, Low-Interest Credit Card Will Increase Your Scores</u> &ndash; FALSE!</strong></p><p>Everyone gets the offers, &quot;Dig yourself out of your financial hole with a balance transfer.&quot; They tempt you with big checks, one with your name printed on it. &quot;Take a vacation. Improve your home. Or, just consolidate your debt. These checks are yours to do whatever you want.&quot; Sounds great, doesn't it? And it would be great except for the fact that if you consolidate all of your debt onto one credit card, you will max out that card and your credit score will drop 80-100 points overnight! Oops, they forgot to tell you that, right? Per Fair Isaac, if you have a maxed-out balance reported on your credit card statement, you can lose 75+ points instantly, regardless of how good your credit history is. Do not consolidate your credit card debt onto one low interest card UNLESS, if after transferring the debt, the balance on the credit card you are transferring to is under 30% of the available limit. </p><p><strong><u>Myth #3: It's Okay If You Go Over Your Credit Card Limit Because The Credit Card Company Authorized the Purchase</u> &ndash; FALSE!</strong></p><p>Nothing is further from the truth. Don't go over your credit card limits, even if it's just by one dollar. Doing so deals you a double penalty and you could lose 80-120 points from your scores. Why? Going over your limit makes it appear that you cannot hold to a creditor's agreement and that you are overextended. Something to note: even if you call your credit card company and they approve an additional $200 over the telephone, you still get penalized. </p><p><strong><u>Myth #4: Closing Credit Card Accounts Will Help Your Score</u> &ndash; FALSE!</strong></p><p>Don't close credit card accounts at all, with the exception of closing a joint account after a divorce. You will lose points in two factors when you close a credit card account, both in the Amounts Owed factor which is worth 30% of your credit score, and in the Length of Credit History factor which is worth 15% of your credit score. (These 2 factors combine to make up nearly half of your credit score, so pay attention here.) The more available money you have that you are not using, the better your score, and once you close the account, you lose the available limit on that card. Also, a common misconception by consumers is they believe when you close a credit card account, any bad history on that account goes away. This is not the case. That history stays with you.</p><p><strong><u>Myth #5: Becoming an Authorized User on Someone's Credit Card Makes You Legally Responsible for the Account</u> &ndash; FALSE!</strong></p><p>It is true that any activity on these accounts, good or bad will show up on your credit report if you are an authorized user, but unless you are a JOINT owner or Co-Signer of the account, you are NOT legally responsible for terms of the agreement with the creditor, and you can have your name removed from the account at anytime. Keep in mind that any negative history reported during the time your name was on the account will remain, but no further negative history will be reported.</p><p><strong><u>Myth #6: The Type of Credit Card Doesn't Matter</u> &ndash; FALSE!</strong></p><p>The credit scoring system does not like third-party finance cards (e.g., department store cards, furniture store cards, etc.) Always try to stick with major credit cards (e.g., Visa&reg;, MasterCard&reg;, etc.)</p><p><strong><u>Myth #7: Your Divorce Decree Protects Your Credit Score</u> &ndash; FALSE!</strong></p><p>Even if your divorce decree stipulates that your ex-spouse is financially responsible for debt that is held in both of your names, you remain financially liable for that debt until it is paid in full. Both of you entered into a binding contract with the creditor. If your ex-spouse is named as the responsible party for a jointly held debt, and you cannot afford to pay off the account and close it immediately, then you should monitor the account closely to make sure it is being paid on time. Otherwise, negative payment history information will appear on your credit report, and could drop your score by up to 75+ points overnight. Keep in mind that it is against the law for a creditor to remove a late pay without documented proof that it was their error. One late pay can affect your score for many years.</p><p><strong><u>Myth #8: Marrying Someone Who Has Poor Credit Will Hurt Your Credit Score</u> &ndash; FALSE!</strong></p><p>Although getting married generally means that you'll be combining finances, your credit reports won't be combined. If you open a joint account, the credit information will show up on both reports, but your (or your spouse's) past negative credit history won't be reflected on the other person's credit report unless you add your spouse as an authorized user to an account that has a negative history.</p><p><strong><u>Myth #9: Making Arrangements to Pay a Charged-Off Credit Card Account Will Help Improve Your Score</u> &ndash; FALSE!</strong></p><p>If you have an old charged off credit card debt and you make payment on it, or make a written or oral promise to pay it, you will renew the 7 year credit reporting statute from that date. The best path to take in this instance is to debt negotiate. Offer the creditor .30 - .40 cents on the dollar as payment in full in exchange for a deletion letter from the creditor. </p><p><strong><u>Myth #10: Those Pre-Approved Credit Card Offers Do Not Hurt Your Score</u> &ndash; FALSE!</strong></p><p>Just because credit is offered to you, does not mean that you should accept it. When you receive one of those pre-approved credit card letters in the mail, your credit report has not been pulled yet, so you are NOT approved for the account. Once you pick up the phone to call the creditor, they will pull your report and you will be penalized immediately for the hard inquiry (10% of your score.) It is best to avoid these types of special offer credit cards (including department store offers of &quot;Open an account today to save 15% off of your purchase.&quot; The scoring system frowns upon 3rd party finance cards.</p><p>The bottom line about misinformation? It's always going to be out there, and many empty promises presented are tempting &ndash; but if something seems too good to be true, it probably is. I recommend that you reach out to the professional who gave you this subscription to <em>YOU Magazine</em> and have a frank conversation about what the next step should be on your path to optimal credit.</p><p>Article courtesy of <a href="mailto:Edgar.Santiago@GoUniversal.net"><font style="color: #0000ff" color="#0000ff" size="2">Edgar.Santiago@GoUniversal.net</font></a></p></span>]]></content:encoded></rss:item></rdf:RDF>