Month: August 2017

Dover Children’s Home 10th Annual Golf Tournament

| Zeb Wright

Kingswood Golfs For Favorite Charity

The entire staff of Kingswood Leasing was proud to support and attend our 6th consecutive Dover Children’s Home Golf Tournament. This charitable tournament is one of the largest events that the Dover Children’s Home puts on every year, generating much of the needed funding for their non-profit programs for children. Thousands of NH’s most vulnerable children have received exceptional care at DCH since 1893. Their personalized treatment allows the young people that they serve to gain self-confidence and experience significant improvement in their family relationships, decision-making skills, and school performance.

Fundraisers and donations of any kind translate into the program’s ability to provide exceptional care while attempting to provide a positive adolescent experience. DCH is committed to improving the lives of the young people placed in their care by offering a wide array of services, experiences, and opportunities that celebrate each child’s individual strengths and personal needs.

As one of only a few community-based residential treatment programs for children remaining in NH, it is more important than ever for Dover Children’s Home to provide a safe haven for young people to develop the skills they will need to become healthy, productive members of the community.

“To the Whole Team at Kingswood Leasing,
I cannot say enough Thank You’s to each and every one of you for your ongoing support of Dover Children’s Home! Thank you from the bottom of our hearts for all you have done and continue to do for us! Thank you for wrapping your arms so generously around us!
With much gratitude, Renee” – Renee Touhey-Childress, Executive Director, Dover Children’s Home

The staff of Kingswood Leasing had, yet again, a great time being a part of this event. Almost everyone either volunteered or played in the tournament, which was a lot of fun for everyone involved. We look forward to this event every year and we look forward to supporting the Dover Children’s Home for years to come.

What’s the difference between a Collection Account and Charged Off Account?

| Zeb Wright

What is the difference between a Collection Account and Charged Off Account?

The quick answer is that there is a huge difference between how each can affect your credit score. On your credit report accounts can be categorized as either a Revolving Account - "R", Installment Account - "I", or Other Account - "O". A collection account is neither a revolving or installment account, and is therefore categorized as an Other Account. The balances for "O" accounts does not impact your score, so whether you owe $0 or $10K your score will not change. The greatest impact "O" accounts have on your score is in regard to their Date of Last Activity (DLA). The newer the date the more it impacts your score, which is why paying off collection accounts will usually lower your scores as it will renew your DLA.

Charged Off Accounts are more likely to be reported as Revolving Accounts, and therefore will affect your score differently. For example, "R" accounts not only consider the DLA but also the Balance Due. That is why whenever you are maxed out on a credit card account it has a dramatic effect on your credit score. The dilemma in these situations is trying to decide what is best - will it affect my score more to have the maxed out account charged off or to settle the account for less than agreed only to have it renew the DLA?

In those cases, we suggest a FREE consultation from our friends at National Credit Care. If you are a business owner, you can't afford to have sub-par credit. You work hard for your money. Save more of it by getting your credit score up as high as possible.