Identify theft is on the increase.
The FBI estimate that the number of individuals who become a victim of identity theft will increase between 500,000 and 700,000 each year. What’s more it can sometimes take up to a year before some realises that they are a victim of identity fraud an average of 175 hours to clear their name.
I was reminded of these grim facts when I recently received a letter from the “International Lotto Commission” telling me that I had won 850,831 Euros.
The “Payment Release Form” asked for comprehensive details including:
1. Name
2. Sex
3. Date of Birth
4. Address
5. Nationality
6. Email address
7. Phone numbers
8. Bank details
Although, if I wanted a “certified bank cheque”, the form stated that I didn’t have to give my bank account details. However, even without my bank details, if I provided the rest of information, in the wrong hands my identity would be in serious jeopardy. They even wanted to know who my next of kin was.
The letter was covered with a mishmash of photocopied logos and other images that were supposed to add authenticity to the letter from Spain. There were typos and while there was a lot of information in the letter […]
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Urban myths- We hear them all the time. Some that come to mind: alligators living in the sewers…mixing the candy Pop Rocks with soda pop will make you explode…and credit repair companies can instantly solve credit problems.Most of the myths are harmless fun; but when it comes to your credit, you could lose money and break the law if you don’t know the truth.Some credit repair companies make promises about turning bad credit into good credit. And while it may sound enticing, don’t be fooled. Truth is, nobody can legally remove accurate and timely information from your credit report. You should be skeptical of any company that claims they can do a quick fix to your credit.In fact, the Federal Trade Commission (FTC) is continuing its crack down on credit repair schemes. Eileen Harrington, Deputy Director of the FTC’s Bureau of Consumer Protection, is part of the project. “There is absolutely no reason to pay for credit repair,” Harrington said. “Despite their claims, there is nothing that any credit repair firm can do for you for a fee that you cannot do for yourself at little or no cost.”So, what can you do if you want to improve your credit? […]
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Okay, it’s probably not a bumper sticker you see every day. But healthy credit is definitely something to be excited about, especially when it comes to that car, truck or SUV you’re thinking about buying. Good credit makes the road to getting your dream car a lot less bumpy.So before you cruise into the car dealer’s showroom, check under the hood of your credit. Get your credit report, make sure it’s shiny and clean just like that new car you’re eyeing, and you will have the credit score you need to negotiate a lower interest rate on your loan.If your credit report has a few bumps and scratches on it, do what you can to address any issues with your report. You’ll be surprised at how much you can save on your car payment every month.What can you afford?Before you shop, you need to make a budget so you know what you can comfortably afford.Look at the price…your down payment…your insurance premiums… gas costs…and if you need the extras like satellite navigation or leather seats. You should also look at your debt-to-income ratio to ensure adding a new car payment every month won’t be too hard too handle.Should you buy […]
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