.floatimg-left-hort { float:left; } .floatimg-left-caption-hort { float:left; margin-bottom:10px; width:300px; margin-right:10px; clear:left;} .floatimg-left-vert { float:left; margin-top:10px; margin-right:15px; width:200px;} .floatimg-left-caption-vert { float:left; margin-right:10px; margin-bottom:10px; font-size: 12px; width:200px;} .floatimg-right-hort { float:right; margin-top:10px; margin-left:10px; margin-bottom:10px; width: 300px;} .floatimg-right-caption-hort { float:left; margin-right:10px; margin-bottom:10px; width: 300px; font-size: 12px; } .floatimg-right-vert { float:right; margin-top:10px; margin-left:10px; margin-bottom:10px; width: 200px;} .floatimg-right-caption-vert { float:left; margin-right:10px; margin-bottom:10px; width: 200px; font-size: 12px; } .floatimgright-sidebar { float:right; margin-top:10px; margin-left:10px; margin-bottom:10px; width: 200px; border-top-style: double; border-top-color: black; border-bottom-style: double; border-bottom-color: black;} .floatimgright-sidebar p { line-height: 115%; text-indent: 10px; } .floatimgright-sidebar h4 { font-variant:small-caps; } .pullquote { float:right; margin-top:10px; margin-left:10px; margin-bottom:10px; width: 150px; background: url(http://www.dmbusinessdaily.com/DAILY/editorial/extras/closequote.gif) no-repeat bottom right !important ; line-height: 150%; font-size: 125%; border-top: 1px solid; border-bottom: 1px solid;} .floatvidleft { float:left; margin-bottom:10px; width:325px; margin-right:10px; clear:left;} .floatvidright { float:right; margin-bottom:10px; width:325px; margin-right:10px; clear:left;}
Ted Nahas and Matt Nolan have been on both sides of the credit fence, offering it and now working with people who suffer because they can’t get it or wallowed in it when they could.

Nahas and Nolan have been buddies since their days at Dowling Catholic High School. They went off to separate colleges, Nahas to the University of Iowa and Nolan to Loras College. Their careers in financial services took them to various parts of the country, although they landed at roughly the same time in Milwaukee, where they worked for Chrysler Financial Services.

After returning to Des Moines, they joined up late last year to start CreditWise LLC, this time helping people understand the intricacies of credit and its impact on their lives.

“We’ve learned that there’s definitely a lack of education on the finance side for a lot of people,” Nahas said.

The partners noted that in addition to suffering from lenders’ reluctance to make loans under the relatively easy terms that were available just a few years ago, their clients’ credit woes also stem from a poor economy and are compounded, in many cases, by poor financial planning.

Nahas said that everyone should have an emergency fund that will cover expenses for at least three to six months.

“If you don’t have one, start saving for one,” he said.

In addition to helping people sort through their credit problems, such as failing to qualify for credit or loans at favorable terms and rates, CreditWise will review budgets and develop spending plans. The company also offers assistance to engaged couples so that they can map out their finances prior to marriage.

A big challenge is getting people to understand and learn to live with a lending environment that probably won’t return to its freewheeling ways.

“When things were good, I think people thought they would always be able to get what they wanted,” Nolan said.

“I think it’s a surprise to people when they find out what they can’t do anymore.”