Credit Importance

Society is becoming increasingly dependent on using credit to make purchases and decisions. These days, good credit is used for more than just getting a credit card or a loan. More and more businesses are making the case that you must have good credit before they extend products or services to you.

Many people have dreams of starting their own business. Most business startups require a sizable amount of cash that you might not have available. In that case, you’ll need to obtain a small business loan. Among other things, you need to have good credit to qualify for the business loan.

Your “creditworthiness” is defined by your three-digit credit score and is the key to your financial life. Good credit can be the make-or-break detail that determines whether you’ll get a mortgage, car, or student loan. On the other hand, bad credit will make it more difficult for you to get a credit card with a low interest rate and it will make it more expensive to borrow money for any purpose, says Liz Pulliam Weston, author of “Your Credit Score.”

Bad credit can suggest you’re a risky bet. While bad credit may only show the details of how you deal withdebt, some will extrapolate the characteristics from your financial life to other situations and assume that your bad credit implies that you may be just as irresponsible driving a car, taking care of an apartment or showing up for a job.


Bobo; A leader in today’s financial industry

Successful business man and entrepreneur Donnell Bobo and his team are working very hard in the Saint Louis region not only to help people understand why it is imperative to have good financial health, but also to guide them to that path. The company has been around for 10 plus years, with Bobo being the founder. He is a self made man who prides himself in the excellence of his self and his team and the services they provide to consumers.

article pic DBOBO

“We maintain the highest level of financial consulting and management when it comes to our services and technology we offer to our clients. Those services include but not limited to: tax planning & tax consultation, personal credit & debt issues, budgeting and budget planning, business development, investments, business opportunities, and overall financial health,” says Bobo who has been a part of the industry for over 10 years.

Read this article for some insite on how to prepare yourself financially in this day and age!

Surviving our economic crisis: A proactive approach

Financial Strategist, Donnell Bobo’s  tips for a successful financial year

by  Abesi Manyando

In a recent article from “An Economy in Crisis,” writer George Barlow wrote the following; “The U.S. economy is in dire straits. Americans can tell something is wrong, but they can’t put their finger on what the problem is. Our country was once a leader in productive manufacturing, but now we have been relegated to a “service economy” where we make nothing of value. Some Americans have been able to maintain their former standard of living, but our whole nation is living on the back of mounting debt. This is unsustainable and will ultimately lead to the total collapse of our economy if nothing is done to stop it.”

Many Financial analysts agree with Barlows’s sentiments about the economy.  More and more Americans are struggling to make it without being consumed in debt.  Financial Strategist and owner of DB Enterprise Financial, Donnell Bobo states that “times are difficult for the average American family but there are a few things that people can do to not be harshly victimized by our staggering economic crisis.”  Perhaps the suspended state of economic despair will not last much longer but nevertheless Bobo suggest that we could make the following provisions to have a better financial year.

For people who work a 9 to 5, Bobo suggests that there is nothing wrong with starting your own business on the side.  If you have a skill or craft, you can turn that into something profitable or it can be an extra income to add to your earnings.  Find something that you enjoy doing and see how that skill can translate into dollars for you.

Once you have created a business that reflects your interests, you can think about creating capital through business credit.  If your business is structured correctly you may build the business credit for your new company.

Depending on your ability to take risks or not, purchasing penny stocks may be a good idea, whereas penny stocks can have a good return.

In the event you do not have readily accessible capital, I would recommend taking up a trade of some sort that will give you more skill and ability to prepare yourself for the real world.

 And for those of you who have a tax return we recommend making a secure investment with your money rather than buying frivolous and unnecessary items. Such investments: CD, mutual fund, bluechip stocks, and real-estate. This is the time to maybe think about buying a piece of property which will be very beneficial in the long haul.

Along with being the CEO of DB Enterprise Financial, Mr. Bobo is also the owner of UCS Credit Repair and Cybernetics Technology.  Cybernetics uses the state of the art project management tools to monitor and manage tasks and projects on a daily basis. Bobo also works with under-privileged families educating them about financial literacy and credit rights.  Donnell

Bobo can be reached at:


Credit Repair– Cat & Mouse

Credit repair is like a game of cat and mouse-

The job of the credit repair expert is to know where, how and when to setup the mouse traps. Credit Reporting Agencies, Collection Agencies, Banks and Credit Card companies get sued 1000’s of time per year. Many of the lawsuits that are filed against the companies are born out of neglect.

The collection agencies, banks, credit reporting agencies and credit card companies consistently report inaccurate, unverifiable and outdated data. Reporting of inaccurate, outdated and unverifiable data is a violation of several laws and acts….. The FCRA (Fair Credit Reporting Act), FACTA (Fair and Accurate Credit Transactions Act), FCBA (Fair Credit Billing Act), HIPPA (Health Insurance Portability & Accountability Act) all have consumer protections. The consumer protection sections of each of the laws must be understood thoroughly to best serve your clients…

Each of the mentioned laws and or acts have special provisions that deal with, collection agencies, credit reporting agencies, original creditors and/or medical providers. Understanding which laws apply to which entities is VERY important. For example: If you were to send a letter to a collection agency stating that they have violated the X consumer protection act and the must comply within X days or you will file a complaint will be useless unless the correct law and statute are noted…

Mentioning laws and quoting statutes can be useful and detrimental when writing dispute letters… There are always multiple ways to look at different situations and statements. Understanding the law is important BUT- Quoting it in a FORM letter is not always useful for a couple of reasons… One reason that quoting a law in a dispute letter can work against you is- if you quote the law incorrectly, or if you quote the law in a way that makes your letter appear like a form letter…

Credit Reporting Agencies DON’T LIKE DISPUTE LETTERS!!! In fact- each dispute letter costs the credit reporting agencies money! Credit Reporting Agencies attempt to minimize the time spent per dispute in many ways… they must incentivize their staff based on the time spent and they create and continue to advance computer systems to automate the dispute process…




Weekend of Fun!


Come and join us this weekend at the Working Women’s Survival Show. It will be taking place this weekend, Feb. 21st- Feb. 23rd. The hours we will be conducting: Friday Feb. 21st:11a-8p; Saturday Feb 22nd: 10a-8p; Sunday Feb 23rd 11a-5p.

There is food, clothes, accessories, information, services, sales and most importantly, THE WINE GARDEN!! This is a great event to come and kick back and relax with lots of working women just like us!

Tax Season

As we all know, tax season is here!! With all the craziness going on, just finishing up holidays, recovering from the expenses, life getting back to normal, we can forget the important things! Filing taxes is a given; but what to do with that money you get back that was very much earned??? Well that is an easy one. Spend it on cars, clothes, house renovations, ladies, let me hear it–SHOES!! As nice as this would be, there are much smarter ways we can spend this money. How about this, FIX YOUR CREDIT! Although all those other things seem much more fun and flashy, having great credit is becoming the latest trend. It is very important and can make future purchases of things such as cars, houses, renovations, etc much more reasonable. Come to see us at UCS Industries. We have just the right team to help you on your new found path to credit recovery.