Archive for July, 2012

Over 50% of Small-Business Owners Go Without Pay

Posted on July 31, 2012 by Saldutti

More than half of small-business owners have gone without a paycheck – and nearly a quarter of them for a year or more – in order to keep their companies afloat, says a new report.  Citibank’s latest survey, polling the owners of 750 small businesses nationwide, shows most have paid a significant personal price in recent years to keep their firms afloat. Roughly 80% say they had taken less profit, with 66% saying they had cut profits to pay employees rather than reduce staff. Some 70% say they worked more hours – forgoing vacation and family time – and nearly two-thirds say they suffered…

Student Savvy: Ways to Save on Textbooks

Posted on July 26, 2012 by Saldutti

Textbooks – one of the most dreaded topics for college students. Not because they do not want to possess the knowledge inside of those textbooks, but because of the shocking sticker price. It is one of the many concerns of every college student. Buying an English, Science, History, and Math textbook will cost you approximately $300 – sometimes more for newer editions that the professor may assign to his/her classes. There are ways to be financially savvy when choosing textbooks and ways to eliminate textbook costs in this plunging economy. Here are some free and inexpensive ways that should be economically beneficial and should…

Welcome Aboard – Firm Continues Expansion

Posted on July 24, 2012 by Saldutti

Over the past several months, Saldutti Law, LLC has experienced continued growth due to the current economic climate.  The firm is pleased to announce the addition of three new staff members to our team:  Amber Brown, litigation support, Rory McTear, legal intern and Kyesha Moultrie, Marketing/PR intern.     A California native, Amber Brown is a graduate of the American Military University of Charles Town, West Virginia. While at American Military University, Amber concentrated her studies in Real Estate Law, Real Estate Practice and Principles, and earned a 3.67 GPA. She served her country in the United States Air Force in Marysville,…

Finance 101: Things to Know About Credit Scores

Posted on July 19, 2012 by Saldutti

FICO isn’t the only number in town. The score that counts is the one your lender uses.  Here are some things to put you “in the know,” from  1. There is no single number. The compilers of the widely accepted FICO credit score allow lenders to customize their system, so different lenders produce different scores. Plus, each of the credit bureaus – Experian, Equifax and TransUnion – has a proprietary scoring model. As if that weren’t enough, the credit bureaus together invented VantageScore a few years ago to compete with FICO. 2. Different scales, different scores. FICO scores range…

Saldutti Tapped to Speak on Creditors Rights Before N.J. Supreme Court

Posted on July 10, 2012 by Saldutti

Firm principal, Robert L. Saldutti, testified before the New Jersey Supreme Court to discuss issues involving creditors and a more expedited recovery of debt.  Mr. Saldutti opined to the Supreme Court that “increasing the difficulty of lawful recoveries adds to the cost of credit and is borne by the overall public at whole.”  The focus of Saldutti’s testimony was in the area of allowing for more efficient recoveries of lawful debt and his comments to the Supreme Court centered upon the necessary requirement for sound public policy to allow individuals and small businesses to recover lawful debt.

Firm Sets Sail with a Major Victory – Appellate Court Approves Seizure of Yacht

Posted on July 10, 2012 by Saldutti

Saldutti Law, LLC recently celebrated another victory while representing a national bank.  A businessman with an abundance of resources defaulted on a bank loan for a yacht.  In a stunning attempt to create “a defense” to a replevin, the defendant filed a counterclaim alleging various defenses including oral waivers, consumer fraud and other frivolous defenses by the bank.  The court ruled in favor of the bank including assessment of counsel fees and sanctions, whish is estimated to be around $200,000.

Are Your Hurting Your Credit Score?

Posted on July 09, 2012 by Saldutti

If you’ve been trying to boost your credit score–which is a good idea, since people with higher scores tend to pay lower interest rates on loans–you might be going about it all wrong. It turns out that many people don’t know just what helps, and hurts, their credit scores. Here are six ways you might be accidentally damaging your score, from U.S. News & World Report: Avoiding credit altogether. While living a debt-free life sounds like a good idea, it can actually make it harder to take out a loan when you want to. That’s because lenders look for experience…

Money Etiquette: 6 Mistakes to Avoid

Posted on July 03, 2012 by Saldutti

Why are some people so clueless about money etiquette?  You don’t have to have a lot of money to understand basic, common courtesy when it comes to finances – this isn’t difficult stuff.  So why do some people refuse to leave a decent tip, and why do other people feel like they must tell everyone in their church group how much they make? These are financial faux pas – the worst of the worst etiquette mistakes people make with their money.  Don’t find yourself falling prey to one of these dubious mistakes. Here are six financial faux pas to avoid, from…