Avoiding Foreclosure Fraud
July 14, 2008
How Your Divorce May Affect Your Credit
July 11, 2008
Mary and Bill recently divorced. Their divorce decree stated that Bill would pay the balances on their three joint credit card accounts. Months later, after Bill neglected to pay off these accounts, all three creditors contacted Mary for payment. She referred them to the divorce decree, insisting that she was not responsible for the accounts. The creditors correctly stated that they were not parties to the decree and that Mary was still legally responsible for paying off the couple’s joint accounts. Mary later found out that the late payments appeared on her credit report. Read more
Beware Of Identity Theft!
July 11, 2008
In the fast moving and highly technological age in which we live, identity theft is also on the increase. With the ease of access to information from anywhere in the world, a stranger can have access to your personal financial and identity information and in a moment either ruin you financially or assume your identity and make your life a real nightmare. Your goal is never to become a victim. Read more
How To Detect Investment Fraud
July 10, 2008
Deceptive pitches for investments often misrepresent or leave out facts in order to promote fantastic profits with little risk. No investment is risk-free and a high rate of return means greater risk. Before investing, get written information such as a prospectus or annual report. Beware if a salesperson:
- Encourages you to borrow money or cash in retirement funds to invest
- Pressures you to invest immediately
- Promises quick profits
- Says that the disclosure documents required by federal law are just a formality
- Tells you to write false information on your account form
- Sends material with typos or misspellings or not printed on letterhead
- Does not send your money promptly
- Offers to share inside information
- Uses words like “guarantee,” “high return,” “limited offer,” or “as safe as a CD”
- Uses the phrase “this investment is IRA approved”
- Claims “off-shore investments are tax-free and confidential”
Source: Federal Citizen Information Center
Does Your Debt Collector Follow These Rules?
July 10, 2008
The Fair Debt Collection Practices Act applies to those who collect debts owed to creditors for personal, family and household debts. These include car loans, mortgages, charge accounts and money owed for medical bills. A debt collector is someone hired to collect money you owe.
Within five days after a debt collector first contacts you, the collector must send you a notice that tells you the name of the creditor, how much you owe, and what action to take if you believe you don’t owe the money. Read more
Options To Consider For Your Banking Needs
July 10, 2008
When it comes to finding a safe place to put your money, there are a lot of options. Savings accounts, checking accounts, certificate of deposits and money market accounts are popular choices. Each has different rules and benefits that fit different needs. When choosing the one that is right for you, consider: Read more
10 Tips to Avoiding Foreclosure on Your Home
July 10, 2008
Are you having trouble keeping up with your mortgage payments? Have you received a notice from your lender asking you to contact them? If you are having difficulties making your mortgage payments, do not fall into the trap of going into denial and wishing that the problem may just go away. The sooner you take the initiative and reach out to your lender and other legitimate sources for help, the sooner you may be able to get back on track and save your home from foreclosure.
Here are 10 tips to consider if you are facing financial difficulties and are unable to make your monthly mortgage payments: Read more
How to Spot Bogus Credit & Loan Offers
July 1, 2008
Millions of Americans are confronted with fraudulent credit and loan offers from individuals and businesses who are just trying to get into their wallets. They frequently prey on those having problems obtaining credit from legitimate sources. They will often come on to you such as:
“Credit problems? No Problem!”
“You have been preapproved for an unlimited line of credit”
“We don’t care about your past. You deserve a loan!”
Read more
Telemarketing Fraud
July 1, 2008
There are criminal elements out there desperately wanting to get into your pocketbook and bank account. Here’s a dramatization, produced by the FTC, of some of the approaches scam artists are taking to separate you from your money.
Let’s Say Goodbye to Fradulent Telemarketing
