Weekly Tips

Weekly Tips

Payroll Withholding: Time for a Mid-Year Assessment

We're halfway through the year, which means this is the perfect time to reassess how much you're withholding from your paycheck each month. Did you get a big tax refund last year? If so, shame on you! Wouldn't you have rather had that cash in YOUR pocket instead of giving Uncle Sam an interest-free loan?

Updated by Joshua Heckathorn on Mon, 2010-07-05 17:00

Can I Be Fired for Declaring Bankruptcy?

The short and simple answer is "no". The Federal Bankruptcy Act prohibits employers from firing employees solely because they've filed for bankruptcy, but there may be other signs leading up to bankruptcy that could serve as cause for your dismissal.

Updated by Joshua Heckathorn on Sun, 2010-06-27 17:00

Identity Theft: Debit Cards vs. Credit Cards

If you're not concerned about identity theft, you should be. More than 11 million Americans were victims of identity theft in 2009, surpassing $50 million in total losses, and these numbers show no signs of slowing down.

Updated by Joshua Heckathorn on Sun, 2010-06-20 17:00

Fed Nixes Inactivity Fees

Effective August 22, 2010, they'll be no reason to worry anymore about getting slapped with a big fee for not using your credit cards often enough.

A press release, issued by the Fed on June 15th, announced that credit issuers will no longer be able to charge consumers any type of an "inactivity fee", such as ones that are based on a consumer's failure to use their account to make new purchases.

Updated by Joshua Heckathorn on Mon, 2010-06-14 17:00

Can I Add an Account to My Credit Report?

It can be quite frustrating for consumers to discover that a credit card, auto loan or mortgage they've been paying on time for several years doesn't even show up on their credit reports.

Updated by Joshua Heckathorn on Tue, 2010-06-08 17:00

Too Much New Credit Bad for Scores

While it's true that the FICO scoring model rewards consumers who responsibly use various types of credit, applying for too much all at once will likely have a negative effect on your credit scores.

Updated by Joshua Heckathorn on Sun, 2010-05-30 17:00

Credit Reports: How One Baddie Becomes Two

When creditors are unable to collect a debt for an extended period of time, generally 6 months or more, they will write it off their books. To the debtor, this will show up on their credit reports as a charge-off, which could remain for up to 7 years and will negatively impact their credit scores.

Updated by Joshua Heckathorn on Tue, 2010-05-25 17:00

How Debt Validation Works

Have you been contacted by a collection agency regarding an old debt you're not sure is yours? If so, you have the right to receive more detailed information before cutting a check to anyone.

Updated by Joshua Heckathorn on Mon, 2010-05-17 17:00

Paid Collections May Not Improve Credit Scores

It seems logical—pay off that nagging collection on your credit report, and you should see an improvement in your credit score, right? Well, that's not exactly how it works. In fact, paying off an account in collections may not do anything to improve your credit score in the short run.

Updated by Joshua Heckathorn on Mon, 2010-05-10 17:00

Beware of Skimmers & Shoulder Surfers

Identity theft and credit card fraud already account for billions in consumer fraud losses every year. Unfortunately, these crimes shows no sign of slowing down as thieves grow sneakier and more consumers fall victim to their tactics. In fact, according to Javelin Strategy & Research, more than 11 million adults were victims of Identity theft and fraud in 2009—a surge of 12 percent since 2008.

Updated by Joshua Heckathorn on Sun, 2010-05-02 17:00

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