Have you been trying to work out what a good credit score is? There’s so much that goes into determining credit worthiness scores, that I don’t know any one actually understands it. There are some things we’ve worked out that may improve scores, and also some things that lower scores, but to truly know the precise result that every action creates is very unlikely. It is possible to know what a good credit history is.

A credit score can range from 300 to eight hundred and fifty. 300 is the lowest you can doubtless have and means you would have serious difficulty getting anyone to lend you anything. 850 is the highest you may have. The general public have trouble achieving a score in the eight hundred’s unless they’ve had established credit for many years with excellent payment history. Again it’s a science to know just how many trade-lines to have open at once and what sorts of trades they need to be to get you the best score, but happily you don’t need to have perfect score to get the best interest rates.

Mostly, scores that are about 730 and above will qualify for the very best terms on loans. Once in a while you will see a credit union who has an even better deal for scores above 760 or so, but that is extraordinarily rare. If you can get your score to be about 730+ you’ll be doing fine.

On the low end, if your score is below about 660, you will need to really get serious about raising the score so you can get approved when you need credit. This is going to be as simple as closing some accounts as you have too many open, or it might be that you have got to pay off some delinquent obligations and make timely payments for the next 6-12 months. Everybody’s credit is unique, so that the everybody will have something else to do to bring up the score. The smartest thing to do is get a copy of your credit report and start researching what a good credit report looks like.

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A notary is an official appointed position by the Secretary of State’s department in a given state. Just like most public officials, the State specifies that the individual obtain a notary bond before getting the commission. This bond “makes sure” that when the official violates the public trust through negligence of their responsibilities, finances are set aside to indemnify the State for its loss.

The primary duty of a notary public is to confirm that the individual parties to a contract are who they claim to be. The State may experience a loss if the notary fails to properly ensure the identity of the parties.

As a public official, the notary violates the public trust by failing in their duty to confirm identity. If a notary in West Virginia doesn’t confirm identity and a loss occurs, an injured party can file a claim against that State for the loss, because the State was negligent through its appointed representative.

A notary bond is a promise to pay to the obligee (the State) when losses occur for a penalty amount of the bond. Surety bonds are often provided by a surety company (typically an insurance carrier). The bond often runs concurrently with the period of a notary’s commission.

You’re probably familiar with a home insurance policy. When a person has a homeowners insurance in Indiana claim, the insurance carrier pays the claim and writes off the loss. You aren’t required to reimburse the carrier for the claim. Unlike a homeowners insurance policy however, a notary bond is simply a promise that the funds will be available should losses occur. The surety (insurance company) pays the State up to the penalty amount of the bond. However, this loss paid by the company is not simply written off. The company will most likely seek reimbursement from the bonded person, the notary themself.

A notary bond protects the public. Who protects the notary? Insurance coverage is available to provide this protection – it’s called Notary Public Errors and Omissions and may also be purchased for a nominal fee from insurance carriers.