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SoFi Everyday Cash Rewards and SoFi Essential

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SoFi is piloting two new invitation-only credit cards – the SoFi Everyday Cash Rewards Credit Card and the SoFi Essential Credit Card. These new cards reflect SoFi’s commitment to helping our members achieve their goals. By offering several cards, we can serve members with diverse credit backgrounds more options to select what tool works best for them.

The SoFi Everyday Cash Rewards Credit Card helps our members balance their everyday lifestyle while also working toward their financial future. Whether it’s dining out, dining in through food delivery apps, or buying groceries for meal prep, this card helps members maximize their rewards on their everyday spending. Earn 3% cash back rewards on dining (including takeout and delivery apps); 2% on grocery stores (including online delivery); and 1% on all other eligible purchases.

The SoFi Essential Credit Card gives our members credit they can rely on – it’s designed for members that are interested in improving their credit without the surprise fees and gotchas from other banks.

If you have received an invitation to apply for these two products, please follow the instructions you received via email. Otherwise, please be aware that these products are invitation-only and are not currently broadly available.

Everyday Cash Rewards Card FAQs

Will applying to the Everyday Cash Rewards Card impact my credit score?

The initial SoFi credit card application is a soft credit pull, which will bring no impact to your credit score if you get declined. However if you’re accepted – we will run a hard pull which may impact your credit score.

How do I apply for the Everyday Cash Rewards Card?

If you have received an invitation to apply for this product, please follow the instructions you received via email. If you have not received an invitation to apply for this product, please be aware that this product is in pilot-testing and is not currently broadly available.

How do I earn cash back rewards on the Everyday Cash Rewards Card?

You will earn unlimited 3% cash back rewards on a wide variety of dining out and dining in options:

Dining out includes a wide variety of categories like restaurants, cafes, bars, lounges, fast food chains, and bakeries. Dining in includes food delivery platforms like DoorDash and UberEats.

You will earn unlimited 2% cash back rewards on everyday grocery shopping at a wide variety of grocery stores, online grocery delivery, and convenience stores nationwide.

You will earn unlimited 1% cash back on all other eligible purchases. This is automatically applied to every purchase you make – whether you swipe, dip, tap, or pay online. See more details at https://www.sofi.com/card/rewards?cardType=h

How can I redeem the cash back rewards on the Everyday Cash Rewards Card?

You can redeem rewards as statement credits or distribute them across other SoFi products including but not limited to SoFi Checking & Savings, Invest, Travel, and eligible SoFi loan payment products.

What are the requirements to get the Everyday Cash Rewards Card?

To be eligible for a SoFi credit card, you must be at least 18 years old (or the legal age required by your state of residence), have a physical U.S. mailing address, and possess a valid Social Security number. The SoFi Everyday Cash Rewards card is designed for those with good to excellent credit.

How do ID Theft Protection and Zero Fraud Liability work for the Everyday Cash Rewards Card?

At SoFi, the protection of our members is of the utmost importance. Click here to learn more about how we protect you against identity theft and fraud.

Can I share this Everyday Cash Rewards Card offer with friends or family?

No – the SoFi Everyday Cash Rewards Card is currently invite only. Offers are non-transferrable.

Can I make a one-time payment on the Everyday Cash Rewards Card?

You can set up auto-pay right away, but if you want to make a one-time payment, you can do so anytime in the SoFi app.

Essential Card FAQs

Will applying to the Essential Card impact my credit score?

The initial SoFi credit card application is a soft credit pull, which will bring no impact to your credit score if you get declined. However if you’re accepted – we will run a hard pull which may impact your credit score.

How do I apply for the Essential Card?

If you have received an invitation to apply for this product, please follow the instructions you received via email. If you have not received an invitation to apply for this product, please be aware that this product is in pilot-testing and is not currently broadly available.

How do ID Theft Protection and Zero Fraud Liability work?

At SoFi, the protection of our members is of the utmost importance. Click here to learn more about how we protect you against identity theft and fraud.

Can I share this Essential Card offer with friends or family?

No – the SoFi Essential Card is currently invite only. Offers are non-transferrable.

Can I make a one-time payment on the Essential Card?

You can set up auto-pay right away, but if you want to make a one-time payment, you can do so anytime in the SoFi app.

Disclosure: SoFi Credit Cards are issued by SoFi Bank, N.A. pursuant to license by Mastercard® International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Trending upwards: an update from Swedish and Latvian loan originators

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It has been a while since we’ve checked in on our largest loan originators. We asked the VIACONTO.se and VIASMS.lv country managers to give us insights into their performance and plans.

Sweden

The business has shown significant growth over the past quarter, with the net portfolio increasing from 97M SEK to 130M SEK. Additionally, monthly sales have surged, reaching a peak of 37M SEK, up from 28M SEK. The demand is also rising, with 16% of clients reaching their maximum credit limits, indicating potential for offering higher limits in the future.

The loan volume increased by 9M SEK during this period, growing from 28M SEK in Q2 to 37M SEK in Q3. This represents a 32.14% increase compared to the previous quarter.

In Q2, default rates typically decrease due to tax returns, and they stabilise to normal levels in Q3. Currently, there is a slight negative trend in defaults, reflecting the ongoing challenges in the market. However, we are continuously adjusting our strategies to navigate this environment.

The recent successes in Sweden can be attributed to the expertise and dedication of highly qualified professionals who consistently excel in their respective fields. Their combined efforts have been a key factor in the company’s sustained success throughout its history.

Latvia

In the second quarter of 2024, our Latvian operations have seen notable growth, with the Gross Portfolio increasing by 9.47% and the Net Portfolio by 9.83% compared to the previous quarter.

The loan volume issued has risen by 8.9%, adding 1.1 million EUR, and when compared to the same period last year, we’ve experienced a 48.9% growth, equating to an 8.6 million EUR increase.

Our focus on enhancing user experience through upgraded IT systems and new service implementations has played a key role in this success, allowing clients easier access to their credit lines and more convenient payment options.

Additionally, our efforts to improve debt collection processes are already yielding positive results. On the risk management side, we’ve observed a slight decrease in overdue loans, with the share of loans 90 days past due dropping from 1.78% to 1.70%.

Moreover, newly signed agreements in Q2 are showing improved performance, with slightly lower delinquencies at 30 days past due compared to the previous quarter. These combined efforts reflect our commitment to optimising financial performance and delivering efficient, customer-friendly services.

Disclaimer

1)This is marketing communication, not investment advice or investment research. Investments involve certain risks and costs. Legal information about SIA “Viainvest” and its services is available here: https://viainvest.com/en/company/legal/. 2) This is a periodic fact sheet provided for informational purposes. Data sourced from our own internal records. Past performance is not a reliable indicator of future results.

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Los Angeles Disability Claim Lawyer

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Long-term care (LTC) insurance covers the costs of nursing home and/or assisted living services. Under most long-term care policies, a person is eligible for benefits when they are not able to do at least two out of six “activities of daily living” without the assistance of a home health professional, or they suffer from dementia or other cognitive impairment. The activities of daily living are:

  • Bathing.
  • Caring for incontinence.
  • Dressing.
  • Eating.
  • Toileting (getting on or off the toilet).
  • Transferring (getting in or out of a bed or a chair).

LTC insurance is expensive. According to the Alzheimer’s Association, the estimated cost for end-of-life care in 2019 ranged between $233,000 and $367,000. Most health and disability insurance will not cover long-term care, but long-term care insurance will.

Long-term care insurance policies may have limits on how long or how much they will pay. Some policies will pay the costs of long-term care services for two to five years, while other insurance companies offer policies that will pay for a person’s long-term care costs for as long as they live, regardless of cost.

Unfortunately, in the ongoing effort to cut their costs, insurance companies routinely deny valid LTC insurance claims based on technical requirements in the policies. Insurance companies also deny LTC claims by disputing that a person’s medical condition requires the level of care covered by the LTC policy, or by suggesting that those seeking benefits are receiving more care than is necessary or have been placed in the wrong type of facility.

If you have questions about what your options are after an insurance company has denied a claim for LTC benefits, call attorney Kevin M. Zietz for a free consultation.

Fresh Start Ends Sept. 30: What Borrowers Need to Know

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Over 6 million borrowers are in default on their federal student loans. Before the pandemic, these borrowers faced forced seizures of their wages and antipoverty benefits, including through wage garnishment, Social Security benefits offset, and seizure of their federal tax refunds–including the Child Tax Credit and Earned Income Tax Credit. Additionally, default damaged their credit scores, rendered them ineligible for student aid to return to school and finish their degrees, and ultimately limited their economic mobility. For many, getting out of default was overly complicated or had become impossible because they had already exhausted their limited options for removing their loans from default. 

However, the Fresh Start program has temporarily protected borrowers from the harsh consequences of default and provided a streamlined path for borrowers to have their loans removed from default. The opportunity to get out of default through Fresh Start and the protections from collection and other consequences of default the program offers will end on September 30, 2024.  As the program winds down, borrowers should be aware of the changes ahead and the actions they can take to remove their loans from default before the program expires.

Key Benefits of the Fresh Start Program 

Borrowers have until September 30, 2024, to access these important benefits of the Fresh Start program:

  • Removal of Loans from Default: Borrowers who have eligible loans in default can get their loans out of default quickly and easily before the Fresh Start deadline and so avoid the negative consequences of default that may otherwise resume as soon as October. Upon removal from default, the borrower will be eligible for access to affordable repayment plans that could reduce their monthly payments to as low as $0, based on their income, as well as other relief options such as forbearances. 
  • Access to Financial Aid: Before the Fresh Start program, borrowers in default were not able to access financial aid to continue their education. Under the Fresh Start program, these borrowers can apply for financial aid, and their loans are automatically removed from default upon receiving new financial aid. This option will no longer be available after September 30. 
  • Pause on Collection: Defaulted borrowers are protected from collection until the program expires on September 30. This protection will expire, and collection will resume if the borrower does not request removal of loans from default on or before that date. 
  • Negative Credit Reporting: Until September 30, Fresh Start-eligible borrowers will be protected from negative credit reporting. However, negative credit reporting will resume if the defaulted loan is not removed from default at the end of the Fresh Start period. 

How to Request a Fresh Start

Enrollment in Fresh Start is easy and can be done over the phone by contacting the Department’s Default Resolution Group at 1-800-621-3115, online at myeddebt.ed.gov, or by mail at P.O. Boz 5609, Greenville, TX 75403. 

Borrowers with eligible loans held by a Guaranty Agency can also contact their GA (GA contact information is available here). 

After September 30, borrowers will no longer be able to use Fresh Start to get out of default. Please visit our Fresh Start page for more information about Fresh Start enrollment. 

Loans That Are Eligible for Fresh Start

Most defaulted federal student loans are eligible for Fresh Start benefits, including defaulted: 

  • Direct Loans,
  • Perkins loans held by the Department of Education, and 
  • most Federal Family Education Loan (FFEL) loans (held by the Department of Education and commercial lenders) that defaulted before the pandemic.

Please visit our Fresh Start page for a list of loans that are not covered under the Fresh Start program. 

Will collection start after Fresh Start ends? 

Loans that are not removed from default by September 30 may be subject to default collection. The Department is yet to announce its plans for default collection after the Fresh Start period expires, but in the past, default collection has included negative credit reporting, collection notices, wage and Social Security benefit garnishment, seizure of tax refunds, and sometimes collection lawsuits. 

Will negative credit reporting resume after September 30th? 

Due to the Fair Credit Reporting Act, loans that have been delinquent for more than seven years should not appear on a borrower’s credit report. The Department instructed the credit reporting agencies and guaranty agencies to delete the tradelines of these loans. Therefore, loans in delinquency for greater than seven years should not appear on a borrower’s credit report and should not be reported after the Fresh Start period ends on September 30.  

However, negative credit reporting will resume on loans that have been delinquent for less than seven years if the loans are not removed from default by the end of the Fresh Start period. The defaulted loan will be reported as in collection with the original date of delinquency. 

If I use Fresh Start to get out of default, can I apply for rehabilitation in the future? 

Normally, you can rehabilitate a loan only one time. But Fresh Start will not count as your one chance at rehabilitating your loan(s). So, if you use Fresh Start to get out of default, you will still have the option to rehabilitate if you redefault in the future – provided you have not done so in the past. 

Can I apply for Income-Driven Repayment (IDR) when I request a Fresh Start? 

If you request Fresh Start to get out of default by September 30, you will be eligible to apply for an IDR plan, which reduces your monthly payment based on your income. Unfortunately, online IDR applications have been temporarily paused, but you may still apply for IDR using a PDF or paper application. Borrowers have been told to expect delays in IDR application processing, but you should be placed in a forbearance (meaning you do not have to make payments) until your IDR application is processed –contact your servicer to request a “processing forbearance” if they do not put you in one. 

If your loan is removed from default and you do not enroll in IDR, your loan will be placed on the standard repayment plan, which may not be affordable to you; if it is not affordable, you can request to switch to IDR. 

Borrowers who do not use Fresh Start to get out of default by September 30 will remain in default and will not be eligible for IDR. They will have to rehabilitate or consolidate to get out of default and apply for IDR, which is a more complicated process than enrolling in Fresh Start. This is why borrowers should consider getting out of default with Fresh Start while the program is still available. 

By acting now—whether through enrolling in Fresh Start or applying for IDR after enrollment into Fresh Start, borrowers can enter repayment, avoid the harsh consequences of default, and set themselves on a more stable financial path.

The Other Reason You Should Shop Around for Your Mortgage

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The Other Reason You Should Shop Around for Your Mortgage

I know, I know, mortgage shopping is the worst. It’s not a fun thing to do.

It’s not like shopping for a new car or a new TV, or even a new house. But it’s a necessary evil unless you’ve got a boatload of cash.

The reason it’s not fun is because there’s lot of math, paperwork, and high-pressure salespeople involved.

Not to mention lots of mortgage lingo that will likely go over your head.

But there’s a silver lining to putting in all that time to shop; you’ll learn a lot about mortgages.

I Get It, Mortgages Aren’t Fun

Look, I’ll be the first person to tell you that mortgages are boring af. I’ve been writing about them for nearly 20 years now.

And before that, I was working on the frontlines with mortgage brokers and loan processors and underwriters.

None of it was fun, and it’s probably even less fun when you’re new to it and simply trying to get through it.

Conversely, you might have a blast shopping for a new car and doing test drives while checking out all the cool features.

The same goes for new clothes, a new TV, computer, etc. They call it retail therapy for a reason.

I’ve never heard anyone say mortgage shopping is therapeutic. In fact, it’s usually the exact opposite.

Typically, people say they’d rather go to the dentist than go through the mortgage process.

Okay, so what’s the point here? Well, as mentioned, you can learn a lot if you do shop around.

Learn About Mortgages as You Shop Your Rate

Most people don’t shop around for their home loan. They either just go with the lender their real estate recommended, or the first quote they come across.

Again, this is because mortgages are not at all fun. And not getting any funner.

Not only does this cost people (since studies prove multiple quotes leads to lower rates), it also means you won’t learn a whole lot.

Again, I understand. Most people are literally just trying to get through it so they can move into their new home. Or enjoy a new low rate on their existing mortgage in the case of a refinance.

But aside from potentially paying more, you’ll also learn less. And when you know less about something, the probability of a bad decision increases.

For example, you might pick the wrong mortgage product for your individual situation.

Or you might be told to pay discount points at closing, only to sell your home or refinance before the breakeven period.

You might even refinance even when it doesn’t make sense to do so. Or buy too much house and become house poor because the numbers were only presented to you one way.

Bringing it full circle, you might also get ripped off because you’ll be a novice and more easily taken advantage of.

If you actually make a few phone calls and speak to multiple loan officers, mortgage brokers, etc., you’ll learn more about the ins and outs of it all.

Each time you talk to someone new you’ll have a little bit more knowledge than the prior call.

And this will help you avoid the typical gotchas and perhaps allow you to come off more confident. That can lead to better mortgage rate negotiating and ultimately better odds of a lower rate.

Here Are Some Mortgage Shopping Tips to Make It Less Awful

If you’re stressed about it your credit scores, keep in mind that while mortgage inquiries can lower your credit score, it’s often not by much.

You also don’t need to let everyone run your credit. And FICO now combines multiple mortgage inquiries into one when made within a 14- to 45-day window.

Those who have heard of those annoying trigger leads can employ a strategy I laid out years ago.

Use a temporary phone number like Google Voice for free. Share that number with all the lenders, brokers, etc.

Then ditch it once you’ve found your match and carry on with your real number. Or just keep using the temporary one!

Even if you use a mortgage broker, take the time to compare mortgage brokers too. Because many of them just send all their business to one lender. So it’s not really shopping around.

In addition, they have varying compensation structures, meaning if you compare more than one you might land on the broker who earns less per loan and saves you money.

For example, one broker might earn 2% on each loan, while another is satisfied with just 1% loan origination fee in exchange for more volume. The broker earning less will likely have the lower rate and closing costs.

Lastly, if you already have average or poor credit, know that mortgage rates can vary even more, so shopping around is even more important!

Simply put, rates are priced in a tighter range for those with really high FICO scores. But even those folks should also gather more than one quote!

Read on: How to shop for a mortgage.

(photo: Alan Levine)

The Other Reason You Should Shop Around for Your Mortgage
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Loan options for seasonal businesses

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Loan options for seasonal businesses

There are many types of business that could be described as seasonal, relying on specific times of the year to generate the bulk of their income.

While the likes of ice cream parlours, Christmas decorations retailers and wedding planners may see demand rise and fall throughout the year, one thing will remain constant – the need to meet the ongoing costs that come with running a business. 

If you own a seasonal business, a loan could be a valuable tool to help you manage your cashflow during the slower seasons and be prepared for growth when demand increases again. You could use the loan funds for a variety of purposes, including:

  • Covering operating expenses, such as rent, utilities, wages and marketing costs
  • Purchasing stock in readiness for your peak trading season
  • Investing in your business, for example buying new equipment or training staff

A business loan may be a good option if your business experiences seasonal fluctuations in income, but it’s important to make sure you can afford the monthly repayments and that you understand the terms of the loan before you sign a contract.

Making your monthly repayments on time can improve your credit score, which may increase your likelihood of being accepted when making loan applications in the future.

Before taking out a business loan, always consider the following points:

  • Repayment terms: The length of time you will have to repay a business loan can range from a few months to several years, so you’ll need to be mindful of the need to make ongoing monthly repayments during the term of the loan.
  • Personal guarantees: If you provide a personal guarantee on a business loan, you are personally liable to repay the debt if the business is unable to do so. It is important that you consider getting independent legal advice to ensure you understand the terms of any personal guarantee required by a lender.
  • Terms and conditions: If you breach any of the terms and conditions of a business loan, this could affect your business’s ability to borrow money again. For example, lenders will generally inform credit reference agencies when repayments are missed, so it’s important to understand the terms and conditions before you take out a loan and make sure you keep up to date with repayments.

If you own a seasonal business, a loan could help you to bridge the gap between your slow and busy seasons – but it’s important to make sure that this is right decision for you and your business. If you ever find that you are in financial difficulty, you should let your lender know as soon as possible so you can work together to find the best solution.

It takes just minutes to apply for a LendingCrowd business loan – start your journey today.

Please note: all applications are subject to LendingCrowd’s risk appetite and will be subject to clearance of AML and Cifas checks.

Article author

Loan options for seasonal businesses

Gareth Mackie

How to Appeal a Prudential Long-Term Disability Denial

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How to Appeal a Prudential Long-Term Disability Denial

With nearly $1 billion in in-force premiums, Prudential Financial (via its subsidiary, Prudential Insurance Company of America) is one of the 10 largest providers of long-term disability insurance plans in the United States.

They also, like many large insurers, have a long history of unfairly denying legitimate claims. Courts have had to hold them accountable many times, including a $40 million settlement in 2014 after Prudential denied full death benefits to fallen soldiers’ families. They were also forced to revise their life insurance practices in 2023 after the U.S. Department of Labor found that they had denied hundreds of claims due to policyholders not providing proof of insurability, even though they had been paying premiums for years.

If you’ve recently had a long-term disability claim denied by Prudential, don’t let that be the final word. Legitimate claims are denied all the time.

If you want the best chance at a successful appeal, you should contact an experienced long-term disability lawyer as soon as possible. You may have a limited amount of time to file, and only one opportunity to add evidence to record.

RELATED: What to Look for in a Prudential Long-Term Disability Lawyer – Bryant Legal Group (bryantlg.com)

First Step: Determine If You Have an ERISA Plan

Whether or not your long-term disability insurance plan is subject to ERISA regulation will determine the appeal procedures and legal options available to you.

Generally, your plan is governed by ERISA if:

  • You purchased a group disability insurance policy through your employer.
  • Your employer is not a religious organization or government entity.

On the other hand, if you bought long-term disability coverage directly from the insurance company, your policy is not governed by ERISA.

The majority of Prudential long-term disability plans are ERISA plans, but if you aren’t sure, give us a call.

How to Appeal a Prudential Long-Term Disability Denial

Breaking Down the Prudential Appeals Process Under ERISA

Carefully Review Your Denial Letter

When Prudential denies a claim, they are legally required to provide policyholders with a detailed claim denial letter. At minimum, this letter should clearly reveal:

  • Prudential’s reason for denying the claim. Common reasons include lack of supporting medical evidence, excluded conditions (for example, due it being pre-existing), or failure to meet the plan’s definition of disability.
  • Appeal procedures and guidelines. Every insurance company has their own unique administrative appeals process—and unfortunately, Prudential’s tends to be more complex than most. That said, as with all ERISA plans, you’ll have at most 180 days to file an appeal, or you’ll lose your right to take further legal action.

Request a Copy of the Claims File

If Prudential didn’t already provide you with a copy of your claims file, request it immediately. The claims file should include all of the medical records and information that they have on your case, and used to make their determination. In short, you need to know what they have on you so you can figure out what’s missing, or been incorrectly evaluated.

RELATED: Watch Out for These 4 Tactics in Your Prudential Disability Insurance Claim – Bryant Legal Group (bryantlg.com)

Contact a Long-Term Disability Lawyer

Keep in mind that, while Prudential is obligated to provide you with information about how to file an appeal, they certainly aren’t going to coach you on best practices for filing a successful one. In fact, they’ll probably make it sound simpler and less stressful than it really is.

Why? The reality is that you will probably need a lot of evidence and a very well-prepared case to successfully overturn their denial. And if your administrative appeal is still missing key evidence, you won’t be able to include it even if you take them to court.

Because of the strict deadlines and huge amount of risk involved, you should contact a long-term disability lawyer and have them review your denial letter and claims file as soon as possible.

Gather Evidence

Once your attorney has had a chance to review Prudential’s denial letter and claims file, they will help you gather relevant evidence and documentation proving your disability. This might include:

  • Missing or new medical records that support your diagnosis.
  • Additional medical opinions and letters of support from your medical team that confirm a determination of disability.
  • Functional evaluations and other testing that confirms your physical and/or cognitive limitations.
  • Vocational evaluations that provide detailed, realistic projections of your future employability and earning capacity.
  • Letters of support from colleagues, acquaintances, family members, and other people who can describe your circumstances both pre- and post- disability.
  • Personal photos, videos, and journal entries documenting your daily experiences.
  • Other evidence and documentation as determined by your long-term disability lawyer.

Write an Appeal Letter

Once the evidence has been gathered, your lawyer will write a detailed appeal letter. This letter will outline the specific determinations that you are contesting, why you disagree with the decision, and new evidence you are supplying to support your appeal.

Submit Your Appeal and Wait for a Response

Your attorney will submit the appeal letter and all the additional evidence to Prudential. The insurance company will then have up to 45 days to respond. They can also request a one-time extension of 45 more days, so you may have to wait up to 90 days to find out if your appeal has been accepted.

Next Steps If Your Appeal Is Denied

If your appeal is denied, talk with your long-term disability lawyer about what options are available.

As noted above, each insurance company has its own internal policies and procedures for administrative review. Prudential is one of a handful of insurance companies that may require you to go through two full rounds of administrative review before you can file a lawsuit.

If all your mandatory administrative remedies have been exhausted, and your claim has still not been approved, the final step is to take Prudential to court.

RELATED: ERISA Claims and Exhausting Administrative Remedies: What You Need to Know – Bryant Legal Group (bryantlg.com)

Taking Your Case to Court

If you still believe that Prudential’s denial was in error, you have the right to make your case in federal court.

ERISA cases are usually heard by a judge, rather than a jury trial. The judge is also only allowed to review whatever evidence is already in your claims file after your final administrative appeal. No new evidence can be submitted.

The Appeals Process for Non-ERISA Plans

If your plan is not governed by ERISA, then it is governed by your state’s contract laws.

Where we primarily practice (Illinois), policyholders can file a lawsuit against Prudential at any time—there is no requirement to use the full administrative review process. Furthermore, you have the right to request a full jury trial, and you can seek bad faith damages on top of your promised benefits if you believe that Prudential acted with willful negligence or malicious intent.

Because you have so many more options with non-ERISA appeals, there is no one standard appeals process. Contact a long-term disability attorney in your state as soon as possible to discuss your case and determine which of your legal options makes the most sense for your circumstances.

RELATED: Appealing Denied Private Disability Insurance Claims – Bryant Legal Group (bryantlg.com)

Did Prudential Deny Your Long-Term Disability Claim? Contact Bryant Legal Group Today

Prudential is a business. Their goal is to make money. Don’t assume that they have your best interests at heart just because you’re a “customer” and have paid your premiums faithfully. Once you file a disability claim, they are incentivized to look for any reason to deny it. They won’t give you the benefit of the doubt if your claims file isn’t airtight.

Bryant Legal Group has earned a strong reputation for handling disability claims and appeals throughout Illinois. To schedule your free consultation with our law firm, call us today at 312-561-3010 or complete our online form.

Marty Guy Fink featured on Carl White & Steve Kyles Podcasts

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Marty Guy Fink featured on Carl White & Steve Kyles Podcasts

We’re thrilled to share that Marty Guy Fink, Branch Manager in Virginia Beach, was recently featured on two influential podcasts: Carl White’s Loan Officer Freedom Podcast and Steve Kyles’s Loan Officer Leadership Podcast. Marty’s journey has been nothing short of inspiring, and her insights in these interviews highlight her dedication, leadership, and passion for the mortgage industry. We’re incredibly proud of Marty’s achievements!

Check out the episodes here:

Marty Guy Fink featured on Carl White & Steve Kyles Podcasts

How can industry association membership benefit brokers?

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“It really made me see what the organization is about, how many rock stars are around here. So that’s a great idea for people thinking about it.”

The opportunity to network and develop new industry contacts at Fuse has proven a constant benefit for Copeland – now president and chief executive officer at Summit Lending USA – in the years since he entered the broker channel. “I always encourage people to get out of town, go meet some new friends – because you just never know who you’re going to come across,” he said.

“I’ve met some amazing people. We even get loans out of it because some brokers might not be licensed in Kansas City [his local market]. I might get someone that is going to New York or something like that – and we’re not licensed in New York, so I send it to one of my buddies. It’s relationships, it’s getting better… and just getting smarter.”

Opening doors in the mortgage industry

Jay Lessard (pictured, centre), president at Sonoran Lending, said AIME – and its Brokers are Better network – had been an instrumental ally both in his early days as a broker and throughout his career since.

A program called Spark, geared towards helping military members, veterans, women in mortgage, and minorities enter the broker channel, was a key reason he decided to open a brokerage. “Part of it was grant money to help fund your business, but it was more than that,” he said.

How To Create A DAO In 7 Steps: Guide For Decentralized Organizations

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How To Create A DAO In 7 Steps: Guide For Decentralized Organizations

A Decentralized Autonomous Organization (DAO) is a revolutionary governance model that allows communities to operate without centralized leadership. DAOs are driven by blockchain technology, enabling transparent decision-making, decentralized ownership, and automated operations through smart contracts. Whether you’re building a community-driven project, managing a decentralized treasury, or launching a new blockchain product, understanding how to create a DAO is essential.

In this guide, we will explore the key steps to creating a DAO, from ideation to launching on the blockchain, using essential DAO tooling such as Token Tool, Aragon, Snapshot, and others.

Step 1: Define Your DAO’s Purpose

The first step in creating a DAO is defining its purpose and mission. Ask yourself:

  • What are the primary goals of your DAO?
  • What problem will the DAO solve, and how will it benefit its members?
  • Will it be a community-driven project, a protocol DAO, or a service DAO?

Example Use Cases for DAOs:

  • Community DAOs: Focused on governance and decision-making within a community (e.g., Giveth for decentralized philanthropy).
  • Protocol DAOs: Govern decentralized protocols or networks (e.g., Uniswap DAO).
  • Investment DAOs: Pool resources for investment opportunities.
How To Create A DAO In 7 Steps: Guide For Decentralized Organizations

Clearly defining the DAO’s mission will help attract members who share your vision and provide a solid foundation for governance.

Step 2: Choose a Blockchain and DAO Framework

Selecting the right blockchain and framework is critical for building a DAO. Ethereum is the most common blockchain for DAOs, but others like Solana and Binance Smart Chain are also popular for their scalability and low fees.

For the framework, you’ll need tools that allow you to create smart contracts, manage tokens, and run governance efficiently.

Recommended DAO Frameworks:

  • Aragon: Offers a full-stack platform to create and manage DAOs. It includes governance tools, treasury management, and voting modules.
  • XDAO: A simple and customizable platform for creating DAOs without coding.
  • DAO Base: Uses AI to automate governance processes and decision-making.

Once you’ve chosen your blockchain and framework, it’s time to set up the foundation of your DAO.

Step 3: Create Your DAO’s Token

Tokens play a crucial role in DAOs by representing voting rights, governance, or financial stakes in the organization. To create a DAO token without coding, platforms like Token Tool by Bitbond are ideal. Token Tool allows you to create customizable tokens that align with your DAO’s governance model.

If you’re interested in learning more about creating tokens, check out how to create a token guide.

How to Create a Token Using Token Tool:

  1. Visit Token Tool.
  2. Select the blockchain network (Ethereum, Polygon, etc.) where your DAO will operate.
  3. Customize your token’s parameters, including supply, distribution, and governance rules.
  4. Deploy the token through Token Tool’s no-code interface.

Once your token is live, it can be distributed among members or used to incentivize participation in governance.

Step 4: Set Up DAO Governance

A DAO’s governance model dictates how decisions are made and implemented. Most DAOs use token-based voting, where members vote on proposals using governance tokens. The goal is to ensure transparency, decentralization, and accountability in the decision-making process.

Popular Governance Tools:

  • Snapshot: Enables off-chain voting for DAOs, reducing gas fees while maintaining transparency.
  • Tally: Facilitates on-chain voting, ensuring that every vote is immutably recorded on the blockchain.
  • Collab Land: Automates member management based on token holdings, granting access to governance activities.

How to Set Up DAO Governance Using Snapshot:

  1. Create a Snapshot space for your DAO.
  2. Set governance parameters (voting weight based on token holdings, quorum requirements, etc.).
  3. Allow members to create proposals and vote on them.

By combining Snapshot for off-chain voting and Tally for on-chain verification, your DAO can efficiently manage governance while balancing cost and transparency.

Step 5: Manage Treasury and Funding

DAO treasury management is crucial for ensuring funds are used transparently and securely. DAOs typically pool resources through token sales, grants, or donations, with the funds being managed via multisig wallets.

Treasury Management Tools:

  • Multis: A financial management platform that supports multisig wallets and makes it easy to manage funds, track expenses, and handle payments.
  • Adam Vault: Provides secure multisig wallets that require multiple signatories to approve transactions, ensuring accountability.
  • Llama: Helps DAOs manage and allocate funds efficiently, supporting complex treasury operations.

Key Considerations for Treasury Management:

  • Security: Use multisig wallets to reduce the risk of unauthorized fund access.
  • Transparency: Ensure that all transactions are visible to DAO members.
  • Efficiency: Automate recurring payments and track expenses with tools like Multis.

Step 6: Build Community and Onboard Members

A DAO’s strength lies in its community. It’s essential to onboard members who share your vision and values while ensuring that governance remains decentralized.

Tools for Onboarding and Community Management:

  • Guild: Automates access management based on roles and token holdings, helping DAOs manage large communities efficiently.
  • BrightID: Provides decentralized identity verification, ensuring that only verified individuals can join your DAO.
  • CharmVerse: Facilitates collaboration by allowing members to work together, manage tasks, and share knowledge.

How to Build a DAO Community:

  1. Define clear membership requirements (e.g., holding governance tokens).
  2. Use Guild or Collab Land to automate membership roles and access to exclusive channels.
  3. Leverage BrightID for decentralized identity verification to prevent Sybil attacks (multiple accounts by one individual).
To create a DAO you need to build a DAO community.

Step 7: Launch and Scale Your DAO

Once the core elements—governance, treasury, tokenomics, and community—are in place, it’s time to officially launch your DAO. As your DAO grows, it’s important to continuously optimize operations, onboard new members, and improve governance processes.

DAO Scaling Tools:

  • Fractal ID: Helps ensure compliance with identity verification regulations, particularly important for scaling DAOs.
  • DAO Base: Provides AI-powered automation to streamline governance processes as the DAO expands.

Tips for DAO Growth:

  • Engage the Community: Actively involve members in governance and decision-making.
  • Automate Processes: Use AI tools like DAO Base to automate voting and proposal management.
  • Adapt Governance: Continuously refine the governance model to meet the needs of a growing community.

Conclusion

Building a DAO requires careful planning, the right tools, and a strong community. By following this step-by-step guide on how to create a DAO, you can ensure that your decentralized organization operates efficiently and scales smoothly. From using Token Tool for token creation to leveraging platforms like Aragon and Snapshot for governance, these tools will set your DAO up for long-term success.

For more detailed guides, check out Bitbond’s resources, including helpful tutorials on token creation and blockchain governance.

How to create a DAO FAQs

  1. What is a DAO? A Decentralized Autonomous Organization (DAO) is a community-driven organization that operates without centralized control, using smart contracts to automate decisions and governance.
  2. How do you create a DAO? To create a DAO, you’ll need to define its purpose, choose a blockchain and DAO framework, create a governance token, set up governance, manage the treasury, and build a community.
  3. What are DAO tokens used for? DAO tokens are used for governance, allowing holders to vote on proposals and influence decisions within the DAO.
  4. What’s the best tool to create a DAO token? Token Tool is one of the best no-code platforms for creating customizable DAO tokens.
  5. How do DAOs handle funds? DAOs typically use multisig wallets and treasury management tools like Multis and Adam Vault to ensure secure and transparent fund management.

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