What, in the name of Credit Crunch…?
What, in the name of Credit Crunch…?
By Ngaire-Elizabeth Pratt 10/05/2009
This is how the credit crunch means nothing to me. Glorious 2008. The world was my lobster and I was Queen Crab. A superbly enjoyable role within a large Publishing company coupled with a part-time work from home job, combined with singing in a local band provided the basis for a thriving social life and endless (useless) materialistic commodities. At 24, I was living in the greatest city in the world, and presumed myself indestructible. The words ‘slump,’ and ‘depression,’ were hollow phrases a world away, I was untouchable.
This is how the credit crunch has demolished me. 2009 brought with it hardship, fret and privation. After losing my permanent job, running out of free-lance work, and having all gigs cancelled, I came crashing down with an almighty wallop. It didn’t just rain; it bucketed down with acidic blizzards torrentially pouring on my soul. I went from being the happiest 24 year old in England to overwhelmingly dejected. Having always been an exceptionally hard worker (as my references will support…) and being a rare beast who enjoyed working, it shocked my whole being to go from three jobs to unequivocal unemployment. I have illogically become unemployable.
How the credit crunch rejected and dejected me. When discussing with peers, their, ‘something will come along soon,’ and, ‘you and two million other people,’ remarks only push the salt deeper into the wound. Realisation comes with the hardest slap in the face, recognising a position that two years ago would have been handed to me on a plate is now so highly contended that candidates with 10 years more experience and 10 more qualifications are competing. The job market has become obsolete for a 25 year old graduate with half a CIPD and a years marketing experience. What use am I? On the recessional land fill, my career and future decomposing faster than a half-eaten apple.
How the credit crunch crept up on me. I have strained previously strong friendships through my constant refusal of invitations, my consistent monotonous drones about ‘my situation’ and my general loss of optimism.
Of course I have intelligent friends who mystically foretold the future, who hoarded their spare income whilst I frivolously squandered my minimal surplus remuneration on ‘socialising.’ And shoes. But at 25 and imperishable, not only does the ‘rainy day’ not require consideration, it is inconceivable. Yet, aforementioned intelligent friends are now shrewdly investing in the distressed property market, procuring bargain portfolios and preparing for retirement at forty.
How the credit crunch fooled me. I consider my degree a lie. The labour government broke fee increase promises, devalued the worth of the degree and scammed us into loan agreements that deceived us. Realising the (de-)value of the degree, post-graduation, I endeavoured to prove I was ‘better than average’ (the 50% of people being pushed into higher education) by undertaking a self-funded professional qualification. Check mate. Without significant experience I’m unemployable. Over-competent; under practised. The classic catch-22. I would be decidedly indebted to the individual who is able to provide resolution. I am a broken spirit, applying for roles with titles such as ‘envelope stuffer’ post rejection from white-collar posts citing my inexperience, and rebuffed from blue-collar roles claiming my over-qualification- they (somewhat appropriately) fear training will be wasted on a candidate who will abscond at the first prospect of career progression.
This is how the credit crunch has disheartened me. I fear it is pilfering my bliss, darkening my shadows and gnawing at my soul. My foreseeable future and definite present, is awash with trawling the jobsites everyday, buying papers every week, applying for anything with a vague hint of apposite, and making the fortnightly ‘walk of shame’ to the jobcentre to join the two-million other citizens draining the already stretched benefit system.
This is how the credit crunch has denigrated me. I would give my right arm to be back in that dead-end office job with the unreasonable tyrant of a foul-mouthed boss and extrovertly perverse colleagues. This is the credit crunch, devaluing myself is a necessity, I am no longer ‘worth’ what I once was. Depression in every sense of the word.
This is how the credit crunch has deprived me. Begging my parents for ‘help’ with the rent, who imprudently believed on my graduation day that the ‘bank of mum and dad’ would go the same way as Lehman Brothers and close forever. Little did they predict I would end up on the recession scrap heap soon after, with rent contracts and bill commitments that must be satisfied.
This is what the credit crunch means to me. A twist in the ‘perfect relationship’ I’ve enjoyed since my teenage years, now reduced to quarrels over money (or lack thereof) and resentment on my behalf for being the cause of the despondency and antipathy on his behalf for my declining self-assurance. The ‘mortgage’ we had in our dreams now a distant memory from when the future looked promising, wrestled from our clutches like the proverbial sweet from the baby, with all too much ease.
This is what the credit crunch has done to me. I have turned into a ‘grumpy old woman,’ unemployed with rapidly depreciating self-worth and hopes declining by the day.
This is how the credit crunch has humbled me. No longer do I look down on people less fortunate than I once was, I am now amongst the multitude being looked down upon. I finally realise how it is not a choice, but a series of unfortunate results. I finally recognise in the face of desperation turning to the most unpalatable depths is often through necessity. I finally admire those willing to go to any lengths and using any means possible to ensure they can provide for their families. I finally truly understand my fortune in terms of family and friends, health and education. I finally understand the reasons for faith.
This is what the credit crunch will do for me. I refuse to succumb to the trap of unemployment. I will fight harder, I will communicate better, I will not allow myself to be a victim of the banks greed. I will not lose my sparkle. I am somebody. I will stand up and be counted. I will emerge victorious and admired, will be an exemplar for the recession refugees, I will not rest until I achieve my potential.
I just need to get a job first.
This is how the credit crunch will destroy me.
© 2009 Ngaire-Elizabeth Pratt
7 Things You Need To Know For Your Stolen Debit Card
1.Debit cards have a liability limit, but it depends on the circumstances and how quickly you report it to the financial institution or card issuer. The faster you report it, the better off you are.2. Call the customer service department number found on your stolen debit cards account statements to report what happened.3. Federal law states that the consumer's maximum liability for unauthorized charges on a credit card is $50.4. If you report the loss before your card is used, then you have no liability for unauthorized charges.5. If you report the loss within two days, then you won't be liable for more than $50.6. After two days, you could be held responsible for up to $500 for an unauthorized transfer. And you could lose all the cash in your bank account and your overdraft line-of-credit. This happens 60 days after you receive your bank statement in the mail.7. If you wait 60 days you are responsible for the losses.Here is a story to learn from:"I had been thinking about buying a cellular phone but someone beat me to the punch. This person set up an account using his name and paid two bills using my Visa/debit card number. I'm not sure how he got the number since there's only one card. I've heard a lot of theories in the last few days.Nextel allowed this man to set up the account using my card and never verified the information. Had they checked him out, they might have found that the owner of the Visa/debit card was a woman, and not the man starting a cellular phone account. I don't even have a cell phone! The guy took more than half my paycheck, leaving me home all weekend with very little money. Luckily, rent wasn't due.My bank's fraud department was closed on Saturday but I made a fraud report anyway. I ordered two, back to back account statements and had to pay $5 for each one. The bank statements wouldn't arrive for more than two weeks so there was no way of telling the police how much money this man had taken from my account. I asked the operator to read it over the phone but he said it was private.I also called Nextel and had them trace the phone account using my Visa/debit number. A telephone operator told me the account's owner was a man, and said he set up the account more than two months ago. I asked his name and was told the information was private. She did, however, say he also lived in California. Not much help there.From this experience, I've learned that information is only private when you're a law abiding citizen, everyone else has free reign.I canceled my bank card but worried whether this guy had any other information on me. Just in case, I made a police report. The officer at the police station didn't want to take the report, behaved rudely and eventually broke down and wrote the thing, which only took 10 minutes once he stopped sniveling about the paperwork hassle. On Monday, I called my bank again, they said the fraud report wouldn't come across anyone's desk for a few days.I called Nextel and tried again -- in vain -- to get this man's name. I also called the police department, got my report number, asked which division handled such things. I called the desk sergeant and he said an investigator from the financial crimes division probably wouldn't see my case until mid-week.Meanwhile, I'm contemplating a new career in identify theft, it obviously pays, take very little effort, isn't taken seriously by cops or banks or any other agency. No wonder why people do this -- it's cake work.I closed down my bank account, took the $60 I had left, and reopened the account under another number on Monday. The clerk told me all my outstanding debts had cleared. They hadn't and I was told I'd probably get several $22 fees. The bank assured me they'd clear the fees once they came through. In addition, I also found out the old account had not been closed, a result of these "outstanding" debit purchases the clerk assured me were already deducted from my account. Sigh.I asked to speak with whomever would handle my case at the bank. A senior representative at the bank said someone would call me back. They did not. On Tuesday, I called again and complained about how difficult it was to talk to someone about my money, the money I loan this bank so they can make investments. The same money they attach such things as bank fees to. The same senior representative got back on the line and put me through to a woman who was handling my case. She hadn't even looked at it yet, but I did convince her to try and get information from Nextel. I spent a half hour on hold and she came back with the same news I had received. Sorry but this customer's information can't be revealed. Hm."I placed a fraud alert with all three credit reporting agencies, but I've come to understand that's a joke too. I also called my credit card companies and asked that ID be required for every purchase. They said OK but when I used my card a later than evening, no one asked for ID. So much for that."-anonymous
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Go Online For Information On Your Credit Score
The good thing about the twentieth century is the vast advancement in technology specifically with the use of computers. At this time and age, people don't have to worry about almost anything.
One can shop, do business, learn and enjoy the world, communicate with family and friends even at the opposite side of the globe, and make new acquaintances using the computer.
There is no need to leave the comforts of one's home, no need to tire and outdo oneself in borrowing references, and definitely no need to wait for long periods of time for letters and business correspondence to arrive, like knowing your recent credit score in the market.
Consumers can now just access the internet and get the latest updates on their credit reports for no fees and less effort. And a lot more can be obtained by being online.
Other related articles on credit can also be downloaded and looked into via the internet. Some of which are the following: Credit Reporting Bureaus, Guide on Credit Scoring, Credit Profiles, Inquiries on Credit Ratings, Tips on How to Improve One's Credit Score, and so on.
Through online surfing, the consumer can also be given email alerts on any alteration to his or her credit score. Their credit reports and scoring can be monitored daily by just being online everyday.
The consumer can also avail the unlimited services offered by all leading credit reporting bureaus though online. All credit reporting bureaus have their own web sites for consumers to easily locate them.
However, consumers must also be alert and check those credit reporting agencies that offer free credit reports via online. Considerations must be made before availing the services being offered by these online credit reporting agencies.
Many online credit reporting agencies who offer free credit reports and credit scores turn out to be just scams. They might put on the market your home and email address that in turn will send your home junk mails or might hack into your personal profiles online.
Others might offer you programs like free trials and after which will require you to pay for not remembering the cancellation of the program.
Consumers can look for legitimate online credit reporting bureaus which offer their services for a small fee.
They must really do a careful background checking on a target credit reporting agency so as not be lured into a hoax.
When online, consumers can readily get in touch with the concerned credit reporting agencies to make appropriate corrections on their credit score and credit reports to make sure that the creditors and lending agencies are viewing the latest payment history and most accurate personal information in your credit profile
Most lending agencies go online if they want to keep abreast with their client's credit profiles. In this manner, they can also save their resources for much bigger and important financial transactions.
Consumers who are not in a hurry to get their credit scores might just consider ordering it via the usual mail. It might take quite a long period of time, but consumers are assured that their personal records like credit reports and credit history are kept very private.
And to erase the worry of low credit scores and to avoid getting into trouble with your creditors and lending agencies, settle all your accounts on time.
WorldCreditPages.com,
WorldDebtPages.com,
WorldLoanPages.com and
WorldMortgagePages.com
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Credit Card Consolidation Loans are Nothing to Be Fearful Of
Stories abound about credit card consolidation loans that end up leaving the recipient in a worse situation than they were prior to taking out the loan. The fact is if you have done your homework and practiced due diligence then there is nothing to be worried about as credit card consolidation and loans in particular can be a financial godsend.Unfortunately, many people are driven by the fear of debt into taking the first loan that becomes available to them, which, more often than not, are the easiest loans to obtain. The reason they are made so easy to obtain is that they are targeting desperate people who generally have bad credit the flip side is that these loans generally have very bad terms and conditions and higher than average interest rates, and, as a result, will quite often leave the borrower in a much worse situation.The safest and most definitely the wisest step one should take, is to work closely with a credit counselor. They will assist you in creating a financial plan best suited to your individual situation. Credit counselors will require every detail about your debt, no matter how large or small, in order to make an accurate assessment of your finances before relaying the options available to you that will benefit your situation in both the short and long term.Credit card debt is usually the major contributing factor with regards to personal debt, high interest rates and penalties, not to mention annual fees can soon help to build up a substantial debt and the minimum payments that are requested by the card providers are designed so only to pay off a nominal amount of the balance making it extremely frustrating as your debt never clears and it seems that there is no relief in sight. A credit card consolidation loan however, will put all your debt into one basket, meaning; one monthly payment, that hopefully will have a lower interest rate. When looking for credit card consolidation loans you should first look at the financial institutions you already deal with such as your bank or credit union. Credit unions are definitely worth consideration as they typically have the lowest interest rates. In order to find a credit card consolidation loan that will work for you, you will need to ensure that you understand the loan terms and do not be afraid to ask as many questions as you feel you need to until you have an understanding of everything. As the saying goes, knowledge is king and the more you understand the less likely it will be that you sign up for a consolidation loan that is a scam or that just does not suit your personal situation.You will need to check for loan fees, particularly. All consolidation loans will have fees that cover the transfer process and if these are very high they may well cancel out the financial benefits of the loan.
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Guaranteed Part Time Cash Online
For college students and other people who feel burned out trying to balance paying the bills and living at the same time, ads like these can prove to be irresistible. Many of them make perfect sense and easily hook you based on good concepts. Unfortunately, many times the product or service does not match the brilliance of a great idea for making money from home or through the Internet. As I’ve learned myself, the further you go down this road, the more excited you get. You basically get hooked, and if you aren’t careful, you will end up working hard and falling further into debt than you can imagine. Much like gambling, the lure of easy money and independence can make just about anyone fall prey to work at home scams that feed off your dreams to get to your wallet so they can go on to the next victim. Hopefully, you will never fall victim to these scam artists. However, the fact of the matter is that these scammers would not be wasting their time if they were not making any money. And as long as people continue to get mixed up in this business, these scammers are going to stick around to trick more and more people.The best way to keep a scammer’s claws away from your credit card is to do thorough research on each opportunity that you are considering. This means doing much more than simply reading a bit about it online. In my personal experience, I have been taken by companies who were savvy enough to pollute the Internet with staged testimonials, guarantees, questionable references to big name endorsements, and even appearances in the Better Business Bureau. A colleague of mine who invested in vending machine placement services even went so far as to physically go to the manufacturing plant to tour the warehouse as well as contact the Better Business Bureau of that state. What he received, in return, were twenty malfunctioning candy machines with a list of local businesses who had apparently agreed to receive them. Not only did none of these businesses know what he was talking about, many of them were hostile when he showed up to place them. What you want to do is check message boards such as the ASK section of Yahoo.com. Another simple method of weeding out the scams from the genuine opportunities is to go to a search engine and simply type in the company name followed by the word “scam”. If you do this, and you are barraged by an endless list of complaints, you my friend have found a nugget of gold in a sea of mud.In terms of the Better Business Bureau, it is best to contact them directly to ask about any complaints, and also find out how long a company has been listed. The Better Business Bureau operates state by state. They will be able to tell you if they have any complaints on file. If they do, you will want to avoid the opportunity at all costs. But if it appears that a company is doing business the right way, you can continue your own research. Being in the Business Bureau is not necessarily that hard to accomplish. Many scammers can use their money and connections to set up a front to initially qualify for the Better Business Bureau just long enough for them to collect their cash from unsuspecting victims, close shop, create a new identity and start again.Before you decide to do anything, attempt to get in touch with the company that you are interested in. Can you get a human being on the phone? Do they have an actually physical address? How long does it take them to respond to your e-mails, if at all? If you cannot even talk to the company before you start, there is not chance that they will be around when you really need them. I once made quite a bit of money selling vacation vouchers on auction sites. The marketing plan was sound, and the money saving vouchers was a hit. Only problem was, I could never get in touch with their customer service department to handle my customer inquiries and complaints once I realized that the promises that existed in writing on the vouchers were misleading at best. This proved to be such a problem that it took me over a year to recover from the negative publicity on my auction site.Of course, there are legitimate home based businesses out there. With the Internet and all the low cost, web producing tools available, there seems to be a renaissance in entrepreneurship. Basically, just find a product or service you can market online, and do your research. Sell on EBay if you don’t want to build your own website. You can have a website their and all search engine marketing is already done by EBay. The Small Business Association has an office in downtown Tacoma and contains invaluable information on their website http://www.sba.com. Since small business is the backbone of our country economically, sources such as these are eager to help you create a plan with realistic expectations.However, like anything else worthwhile, you have to do your homework and work hard at it. The problem is that too many people make you think you can practically go online and make money just clicking on a mouse. You want to steer clear of any business that asks to you to pay for their “Top Secret” e-book that will teach you how to make an automated income.” Think about it, if you are in dire need of cash, can you imagine any other situation in which you would not only work for free, but pay for the privilege to work. There are no magic formals or secrets worth paying for. All of the information in these e-books can be found for free through your own research if you have common internet skills. If you don’t want to work hard and just make a few easy extra bucks without donating your blood or volunteering to be a guinea pig, it is possible to make some good extra money filling out online surveys or through mystery shopping. There are real opportunities out there which require no fee to get started. Not only that, several of them will even give you a $5 bonus just for signing up. If a company such as this is legitimate, they would be making lots of money through the success of its members. Companies that require that $49.97 start up fee only make money through the fee and only want to teach you how to get other people to do the same. The products are all useless lists and general information that anyone with a functioning mind could figure out on their own, or get for free by doing there own research.In 12 years of trying to make a living on the Internet, the following are the best companies I have ever encountered for making a few extra bucks filling out surveys, playing games and mystery shopping. They probably won’t pay the rent, but if you’re interested in making an extra $400 or $500 a month or eating out at nice restaurants and going to movies for free, you may want to check these out: Mystery Shopping Providers Association: http://www.mysteryshop.org.This site contains all the information you will ever need on starting up as a mystery shopper. It is also a portal for the best sites to go to for mystery shopping jobs online, and they don’t require that you invest a penny.InboxDollars.com (you can sign up for free and get $5 just for signing up. You can make a few hundred dollars in one day, theoretically, if you are willing to use a credit card to sign up for free or paid trials. Just make sure you have the patience to fill out the long surveys and keep detailed records so you can remember to cancel your free trials before you get charged. Also, you can fill out surveys to make a dollar or two which are completely free. I’ve made about $400 with this site.http://www.sendearnings.com.(almost identical to InboxDollars.com)http://www.TreasureTrooper.com (a lot of free surveys and cool games).http://www.tiktikcash.com. By far the best of the survey sites. The free surveys are tremendous. You can make a dollar or two in one minute. This site has the shortest, most painless surveys. I made over thirty bucks in less than after signing up.
Id Theft Prevention – Things to Do Right Now, Habits to Follow
The bear in your campground analogy:
Perfect protection is unreachable but you can be better protected than most people with reasonable efforts. The "Bear in Your Campground" story applies here. When a bear comes into your campground, you can't outrun the bear but you can outrun the other campers. The fact is that there is no way you can be sure to outrun the thieves either, but you can outrun the other potential victims - and that may be enough. I will try to help you make the trade-offs that work for you.
There are lots of people out there making it easy to steal their identities. You don't want to be one of them. There is a lot you can do without major expenditures and major changes in your lifestyle. The point of this book is to teach you what you can do and let you make intelligent trade-offs yourself of security versus cost and inconvenience.
Things to do right away:
The point of this is to get you off to a fast start, positioned to better protect yourself. Some of the things you should do right away include:
Review your last bank and card statements.
Be sure all listed transactions were authorized by a family member, don't assume. Also check to see that you are not missing the most recent statement, as that might be a sign of account takeover. List each account and card on the Account and Card Inventory Form provided in the back of this book. Include on your list your divers license and ID cards from your employer, insurers, that would have to be replaced if your wallet was lost or stolen. This form will be an important tool for detection as well as recovery.
Order a credit report.
One report from each agency per year is now free. Some people get one each four months, on a revolving basis, so that they never have to pay for a report. Some request all three or each more often. This is one of those trade-offs of protection versus expense and effort. To order, go to the Annual Credit Report Service at www.annualcreditreport.com, call them at 877-322-8228, or contact a specific credit agency:
* Equifax: 800-685-1111 or www.equifax.com
* Experian: 888-397-3742 or www.experian.com
* Transunion: 800-888-4213 or www.transunion.com
Calendar the date when you want to order the next credit report. And note which agencies are next in rotation, if you are ordering one at a time.
When I first did this I found a debt listed that had been run up by my former wife. I called the bank and got them to take it off of my credit report. As reviewing your credit report is an ongoing habit, we will discuss what to do when the report arrives in the next section.
Install a locking mailbox or get a Post Office Box.
Incoming mail can provide a thief with credit cards, applications, checks, and various identifying information. I put up the first locking mailbox in my neighborhood. It cost $60 and a little time. But when one neighbor had a box of checks stolen and another lost incoming pay and dividend checks, I wasn't the only one for long.
When my wife went out to run in the mornings, at least once a week she noticed all the unlocked mailboxes were hanging open. One day in the park I found all of a certain neighbor's junk mail. But not those credit card offers and nothing that resembled account statements, or other financial or government mail - those were too valuable for the thieves to toss. What was going on was that groups of teens were cruising the streets making quick grabs into unlocked boxes. They sell "interesting" items to a broker. The broker sorts out the items by type and sells groups of like items to transaction specialists. Certain thieves pass bad checks, others use deposit slips, still others specialize in cards-related frauds.
P.O. boxes may be safer, if less convenient and more expensive, another trade-off. The bear might tear into your locked mailbox, but if the other campers have open jars of honey out front, then why would he bother you?
Get gel ballpoint pens for writing checks.
A thief can take a check from your outgoing mail, remove regular ballpoint pen ink with nail polish remover (protecting the signature, of course), and have a signed blank check - on your account.
The cheapest investment you can make is to buy a gel ballpoint pen and keep it clipped to your checkbook. Gel is a newer kind of ink which cannot be removed by washing. The point is to look for the word "GEL" on the pen, buy it, and use it for all your checks.
Get a shredder.
A crosscut or confetti style is best, as strips can be reconstructed. Anything with your social security number on it or containing personal data is fair game to the thieves when it hits your garbage bag or can. "Dumpster diving" is a profitable profession.
Things you don't want fished from your trash include bank and card statements, old taxes, voided or old checks, deposit slips, credit applications you don't want to complete, credit offers, and those checks the credit card companies send you to initiate low interest rate loans and balance transfers.
Change poor PINs and passwords.
They should be at least six numbers and/or characters. They should not be easy to guess or based on information which might be in your wallet. The first numbers a purse or wallet thief would try are parts of your birth date, phone number, SSN, and any other key number they find in you wallet. Realize that your SSN can be accessed by a large number of people. A thief might obtain it and try different parts of it in guessing your PIN even if they don't find it in your wallet.
There are trade-offs here too.
* Multiples - If you always use the same password it is easy to remember but people at each site have access to it. So you also might want to use a unique password on banking sites. If you use the same ID and password on many sites you are exposing them to key employees of multiple companies.
* Complexity - Complex passwords may be hard to recall and tempt you to write them down in a handy spot.
* Real or made-up - To be extra careful, you might create and use an imaginary "mother's maiden name", as the real one could be researched. It is on your birth certificate, for example.
Set up a password on each bank and card account.
Use your Account and Card Inventory Form as a guide to contact each bank. Once set up, the password can be used by the bank to determine it is really calling them with a transaction such as an address change or funds transfer. If the only way they can identify you is by asking for personal data, your account is exposed to any thief who has obtained your data.
Remove any PINs or passwords written in your wallet / purse.
They could be a goldmine for a thief.
Secure any PIN and password list within your home.
Don't leave them out, in a well labelled file in an unlocked file cabinet, on your computer in an easy to find file, or on a notebook PC that could be stolen.
Protect Social Security Numbers (SSN).
Remove them from your checks, driver's license, resume, or other documents where it is not required. My employer forced their insurance companies to take our SSNs off of our group insurance cards.
Remove unneeded IDs from your wallet, purse, and car.
This will reduce the potential damage from theft and reduce the work you will have to do if theft does occur.
Protect your PC's
Get and run anti-spyware and anti-virus programs and firewalls. Be sure to use the encryption option on wireless networks.
Protect Yourself - Avoidance Habits to Develop and Keep
Even as you complete the initial protection steps described in the prior chapter, you also need to start practicing on-going protective habits.
Review this list from time to time.
The first habit is to learn and repeat each of the others. Put "review the good habits list" on your calendar, as a reminder, until you regularly practice each of these good habits.
Protect your outgoing mail.
Taking outgoing mail can be lucrative for the thief in many ways.
* Applications - Applications for cards or loans can be "edited" by thieves so that they get the payoff and you get the collection calls.
* Checks - A check in the outgoing mail can be as good as gold to them. Even if you used a gel pen to prevent alteration of that check, the data on your check can be used to produce (or even order) perfectly valid looking checks that can be written by the thief that will clear and post against your checking account.
* Deposits - An outgoing deposit-by-mail is a double gift to the thief. Not only can they "edit" the checks to their specifications but they can use the deposit slip too. That scam goes like this: They go into your bank (probably a remotely located branch so they aren't recognized) and hand the teller the deposit slip along with some bogus checks they printed up on their PC or have from a nearly zero balance account out of state. Then they ask for some cash back from the deposited funds. They are usually handed the cash, since it is less that the funds already available on your account. When the deposited checks bounce back against your account, the thief has been gone for two or three days.
* Data sources - Various other sorts of mail (like car registrations, tax forms) can help the thief build a file on you which will later be used to open accounts in your name. You can count on him running up overdrafts and bad debts in your good name.
For all of these reasons, place outgoing mail only in secure mail boxes, not the office OUT box and not your personal mailbox. The big blue USPS boxes are pretty well bear-proof.
Be wary at ATMs and points of purchase
The ideal situation for a thief is to have both your card and your PIN. They will go to quite a bit of trouble to get them. If they can copy the data from the magnetic stripe on the back of the card they can create an exact copy of your card. Even with only plain white card stock they can use the magnetic stripe data to create a "white card" that will work perfectly well on an ATM, gas pump or other unmanned locations.
* Getting your PIN - Watch out for "shoulder surfing". Be aware of anyone watching you enter your PIN at an ATM or point of purchase terminal. Some thieves even use a video camera to record your entry from a short distance or hide a camera to record and transmit your finger movements on the keypad.
* Getting your data - Your card's magnetic stripe data can be read by one of three types of small skimmer devices.
* One is a portable device that can be taped to a waiter's arm. They go to a private space, roll up their sleeve, swipe the card, then go about their normal business.
* Another kind is mounted under the counter. You won't see the card swiped but it will disappear from view momentarily.
* Some thieves go so far as to install a skimmer on a bank's ATM. These look like part of the machine but they are unauthorized "add-ons" that read the magnetic stripe on the card before passing it on to the real ATM card reader.
* Getting your card - Some thieves us a device known as a "Lebanese loop" to steal your card at the ATM. The loop is a strip of plastic they stick into the cred reader slot. Your card is caught by it and jams. After you leave in frustration the thief uses a tool to pull out the loop and your card with it.
Use safer ways to make payments.
It is safer to use credit over debit cards, as they provide better protection against fraudulent charges and their spending limit is most likely below the amount than can be taken from your deposit (checking or savings) account. Once money has been taken from your deposit account, it may take some time to resolve the issue with the bank. In the mean time you may not have access to all of your funds. A credit card balance, on the other hand, you can simply not pay if you have lodged a legitimate complaint in the right manner.
Checks are relatively easy to manipulate. Even if gel ink is used the check can be scanned, the image manipulated, then printed (including the signature). It is remarkably easy for people to order checks on your account and have them sent to an address supplied by the thief. They just say they are you and have recently moved. Many check printers do nothing to verify the identity of the person placing the order, On-line bill paying is available from most banks and is far safer. Once you get used to it you will probably find it more convenient as well. Just be careful with your on-line ID and password.
Now obviously there are other kinds of risks in the world that need to be considered. Over use of credit cards, without regular full payments of the balance, can be a problem. To address this, some families use one card for debt and another for routine purchases. They look for a low-interest card for the first purpose and pay off the other each month, without exception.
Close old accounts.
An amazing number of accounts are sitting around the country in an inactive status. These are prime targets for the thief. If they send in or call in a change of address for the account they are set to strike. They can then run up a card balance, get checks printed and overdraft a deposit account, and set up new accounts related to the original.
After you try to close an account, note it on your Account and Card Inventory Form but don't remove it until you see a credit report listing it as closed. It once took me five trys to get a card issues to actually cancel my card account.
Establish good habits for new accounts.
Ask what the statement date will be. Establish passwords when you set up the account, as described in Chapter 2. Add new accounts to the Account and Card Inventory Form as soon as you get them. Watch for the first statement and review it carefully.
Avoid common mistakes
Doing the things described above is important. But it is equally important that you avoid common mistakes.
* Don't give out data - Incoming-phone calls or e-mail can be a source of data to the thief. They can later use that data to pretend to be you while on the phone to a bank, check printer, or loan company. Once they are accepted as you, they can run any number of scams:
* Take over your account by changing the address of record. They can then transact without your finding out about the activity.
* Set up a new account, card, or loan and link it to the existing accounts. They then are positioned to make transfers as well as play on your good credit.
Another form of thief's data request is "phishing" e-mails. These can seem to be from your bank, card company, brokerage, or other trusted financial institution. They send you to an apparently valid web site that asks for your ID and PIN data. They can be very realistic, with your bank's logo, the look and feel of their web site and even seem to have taken you to the familiar site.
Don't ever provide ID or PIN's as a response to e-mails or calls. Call the bank and report the e-mail. Go to your bank's Web site only in your usual manner, by typing in their URL or clicking from your browser's Favorites or Bookmarks list.
* Don't leave data around - Don't leave the customer copy of a charge slip on the table after paying for a meal or making a store purchase. Although the law now requires that only the last digits of your card number appear on the slip, some older systems are still out there which have the whole card number. This applies also to carbon copies and the carbon sheets themselves.
*Don't write your PIN or password on anything that isn't very secure. This includes your house or unsecured PC file.
* Don't use your SSN unnecessarily - Don't put your SSN on your checks, driver's license, resumes or anything else, if you can avoid it. Don't give it out unless absolutely necessary. It is legally required in relation to any taxable income source. Merchants may not choose to grant you credit if you do not reveal it, it's your choice (and theirs) in that case. Some people make up a number. This ploy has risks that the number will be found to be invalid or, worse, that the number belongs to someone else. The other person may not have good credit or may even be wanted by law enforcement. You don't want to appear to be an ID thief yourself.
*Don't ignore early signs - A common mistake is to take lightly the early signs of identity theft. The quicker it is caught, the sooner it will be resolved and at the least cost in effort and dollars. That is the subject of the next chapter.
This article is from a larger workbook available at www.yourIDsite.com
Copyright Jim G. George
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Understanding Credit Counseling Services
Credit counseling services have helped millions of people break the debt cycle. If you’re considering counseling, review these frequently asked questions to learn more about the credit industry and its practices.
Most are considered tax-exempt non-profit organizations, however not all of them are. Before you sign up with a service, verify that it’s not more interested in turning a profit than it is in helping you. Start by checking them out at the Department of Justice’s bankruptcy website and the Better Business Bureau. Remember, being non-profit doesn’t automatically make them legitimate.
For the most part, they can help you resolve any debt situation, but the various options aren’t available for all debts. Mortgages and student loans usually can’t be settled or entered into debt management programs. Student loans can be consolidated, however. You may also be able to reduce car loan interest through debt consolidation. Medical bills and credit card bills are the easiest for credit counselors to deal with.
Most services are actually funded by contributions they receive from creditors. Many also receive a portion of the funds you pay into a debt management program. Review the organization’s website for a complete disclosure of their funding sources. If you can’t find one and they won’t provide the information to you, consider using a different service.
Fees vary, depending on the services you need. The initial consultation should cost no more than $50. If you can’t afford to pay, many will provide some services for free. A debt management program often includes a one-time setup fee or a monthly maintenance fee. Debt settlement frequently includes high fees. Debt consolidation may involve a smaller fee, or you could attempt to consolidate on your own. Educational materials are often available free. Money management courses may be free or offered for a small fee.
They must be licensed to operate in your state. Most are also certified to provide credit counseling. Before signing up with a service, ask if they’re licensed in your state and if certifications are current.
How Do I Know If I’m Being Scammed?
The fear of being scammed is one factor that keeps many people away from credit counseling. Most services are completely reputable and interested in helping you. As with any industry, there are a few bad apples, though. You may be dealing with a scammer if they:
* refuse to send you any information before you meet with them
* refuse to provide a written list of fees
* pressure you to sign-up that day or risk losing their great offer
* recommend a debt management plan before reviewing your finances
* offer to settle debts for pennies on the dollar
* offer to repair your credit for a fee
* recommend that you stop paying on your debts
* say they can cancel student loans or secured debts like mortgages
* don’t provide budgeting or money management education.
Although it’s important to choose a credit counseling service carefully, you shouldn’t let fear or shame keep you from calling them. A good credit counseling service can help you resolve your debts and learn how to avoid creating new debt. If you’re not sure how to tackle your debts, contact a service for more information about your options.
For more articles on Credit Counseling, visit: http://www.bills.com/credit-counseling-services/
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Eliminate Bad Credit
This Article is written because it has come to the attention of this Author that too many people are being scammed out of their hard earned money trying to restore their credit. You do not want to try to restore by paying a debt or trying to cancel a debt. You want to Crush A Debt. This will Eliminate Bad Credit. You want collections and charged-off debts to disappear forever.
Restore credit is a term that many use. These companies that promise this will charge you an upfront fee, then a monthly fee for their services. What they do is write a common letter, that anyone can get a copy of, and send it to the credit reporting companies. This letter simply states that the bad credit item is not correct, or not your debt. They write this letter month after month hoping the reporting agency will get tired of hearing from them and cancel the debt. This typically does not happen. What does happen is, you get charged the fee every month. You will not Eliminate Bad Credit this way.
Simply writing a letter requesting a debt be removed is not a successful way to eliminate debt. You cannot just remove a debt, you must Crush A Debt totally from your record.
If you hire a company to eliminate bad credit from your report and they succeed, it is not permanent. This debt will return. Collection companies like to sell bad debts to other companies. As soon as your debt is removed, it is sold and within a couple of months placed right back on your report again.
There is only one company, that this Author has found, that will totally eliminate bad credit from your report and collection or charged-off debts disappear forever. You do not want a company to just write a letter to remove a debt, you want a company that will crush a debt. This is not a .org or a .net company, this is a typical .com company.
Feel free to contact this Author with any questions concerning you bad debt or how to crush a debt.
Lee Selders has been involved in the Internet for over 10 years and has achieved extremely high ratings with all associated aspects. Feel free to contact with questions at dglhomebiz@gmail.com
Lee Selders produces success. Always consult a person with this type of vast experience before you start or expand your home based business.
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Whether or not You Believe Credit Repair Works, You are Correct
There are few topics as polarizing as credit repair. Depending on who you talk to, credit repair is usually thought of as impossible, illegal, something you can only do yourself, or something you need professional help to perform. Rarely do you find someone with a perspective on credit repair that is not at the far end of one of these extremes.The fascinating thing is that in most cases, whatever people believe to be true will be true for them.The poster on the Yahoo! Answers forum who states that "there is NO SUCH thing as Credit Repair....it's a scam...." will never realize any benefits from repairing their own credit. By believing that credit repair is impossible, they are fulfilling their own prophecy by ignoring their rights to dispute their own credit. By not believing it can be done, they are proving their own point. This person, and every other person who ignores the possibility of credit repair, will fall into the category of people whose credit scores will only improve through the passage of time.The same is true of people who believe that credit repair companies do not work. Another poster on Yahoo! Answers stated that"There is no such thing as repairing your credit through someone else. If they can, they are doing this via an illegal way and be extremely careful, as it can end YOU up in jail and fined.The ONLY way to repair credit is to do it yourself.Pay your bills on time ;o)"Along with being misinformed about how the credit repair process works, this person is letting their flawed knowledge keep them from so much as investigating the possibility that a credit repair company may be able to help them out. Once again, in believing that it is impossible for a credit repair company to provide any value, this person has assured that they will never receive any value from a credit repair organization.It is truly astounding how many people out there believe that credit repair cannot work and credit repair companies are nothing but scams. It is also unfortunate that it is these voices that seem to be the loudest because not only are they making credit repair an impossibility for themselves, but they are convincing so many other people to not even attempt to repair their own credit.What is equally astounding is how these people can be so passionate about outing credit repair as a pipe dream and a scam when there are so many other people out there who are living proof that credit repair does in fact work. These are the people who have allowed for the possibility that their credit could be repaired and realized the truth about their credit reports.It is hard to believe that anyone could completely dismiss the idea of credit repair when there are stories like this:"I signed up for [credit repair firm] a couple of years ago. They basically write a couple of letters a month on your behalf to either businesses or credit reporting companies asking for verification of debt, that kind of thing, or if you instruct them, actually challenging the debt. After a few rounds of this, negative credit items start to fall off your report. You can totally do this yourself, but it's been worth the cost to me (something like $40/month) since I am too lazy to regularly write this kind of letter. I also like how when the credit bureaus do bother to write back, they're always pretty whiny and pissy about it.Some people seem to think this is some kind of scam (like, paralegals write the letters on your behalf instead of attorneys, and some people don't seem to understand that when you give an attorney "power of attorney," they can write letters as you), but I think it's a fair price for something I was too lazy to do myself. Ultimately, they pretty much got rid of all the negative items on my report except for the ones that were at least semi-legitimate. (I'm not going to pay a parking ticket I got five years ago in a state I'm not going back to.) The ones they did get rid of were things like AOL continuing to charge a credit card after a) I had cancelled the AOL account, and b) I had cancelled the credit card! It just wasn't worth my time to chase this down with AOL or the credit card company.It's annoying that I'm responsible for fixing something that this bogus industry screws up in the first place, but other than that, I'm a happy "credit repair" customer."People who believe that credit repair is impossible will never see any benefit from it. People who believe that credit repair can only be done by themselves will only see the benefits of their personal efforts. People who believe that credit repair companies do not work will never invite the opportunity to have a credit repair company work for them.Ultimately, when it comes to credit repair, we all create our own truths. All anybody can ask of you is to perform your own research instead of letting others choose your truths for you.
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Free Government Grants For Debt Relief – Beware of the Free Trials! Important Note of Caution!
True or Scam? Federal government grants that doesn't need to be repaid? My father always says "If something sounds too good to be true - it probably is". And that is exactly what I thought about free government grants too! Why on earth would the government or anybody else care about my debt?
Federal Grants are not a scam! I was wrong! Some research on the internet (on reliable government sites, not those free trial sites) proved that I was wrong about what I thought on these free personal grants. $40 Billion given to 30 million people from 88,000 sources every year! Who would have ever guessed?
Can you use it for Debt relief? Sure, but there are tons of other reasons too. Like education, medication, housing, to start a business etc. etc.
So how do you apply for one? As long as you're an American Citizen and over 18 years of age you qualify to apply. It doesn't matter what your credit score is or how much debt you're in; that doesn't affect your application process!
The only thing that stands between you and a grant is your application! The problem is that there are so many different types of grants and so many different institutions that offer grants! You have to mix and match the right type of grant to your specific needs together with an A++ application. That's really all that matters.
Many resources trying to teach you for FREE - Beware of the FREE trials! Important Note of Caution! If you have been interested on free government grants the chances are that you have visited at least a couple of these free trial websites. They typically ask for a very low shipping price like $1.95 and you naturally want to give it a try. And if you don't read their terms and conditions, you're in for a big surprise. I'm not saying that they're scams by any means. The only problem is that if you don't cancel the trial you're in for some real big bills.
Just 1 day to try and over $57 every 30 days! - One of the very popular systems gives you just 1 day to try and if you don't cancel it they charge you over $57 for each 30 days afterwards. Another one gives a 10 day trial and charge over $69 every month. A more reasonable one gives you 14 days to try and over $39 for every 30 days afterwards (please note that I have not mentioned the exact price as I don't want to point my finger to exact products on the market)
So if you ever run into a free trial program on free government grants, make sure you are aware about their payment plans or remember to cancel on time!
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