New Bankruptcy Law Will Not Protect You from Identity TheftWritten by Charles Essmeier
Continued from page 1
you are throwing away financial documents, shred them first. Shredders can be found at any office supply store for a reasonable price.
Don’t give out your Social Security number to anyone unless it is absolutely necessary. Congress originally intended that Social Security number not be used as a national identity number, but over years it has become just that. If someone with whom you are doing business asks you for your number, inquire as to whether it is absolutely necessary that they have it. Providing number may not be required. A thief can obtain a lot of information about you if they have your Social Security number. Guard it carefully.
Don’t carry more credit cards with you than is necessary. It’s rarely necessary to carry 20 credit cards in your purse or wallet. Go through them and see if you can’t keep a few in a secure place at home.
Check your credit report once a year and look for suspicious entries. It typically takes nearly a year for someone to find out that their identity has been stolen. Look out for loans or large purchases that you don’t remember making.
Never give out personal financial information, especially credit card numbers, to someone that you don’t know on telephone.
A few simple steps, practiced regularly, can protect you from identity theft. More importantly, these steps can protect you from having to repay thousands of dollars of debt that some thief might run up in your name. Your identity is your most valuable asset. Protect it carefully.
©Copyright 2005 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a site devoted to debt consolidation and credit counseling, and StructuredSettlementHelp.com, a site devoted to information regarding structured settlements.
| | Debt Consolidation – Can You Negotiate with Your Credit Card Company?Written by Charles Essmeier
Continued from page 1
woes if they’re receiving payment on time. On other hand, if you’re late on your payments, especially if you’re more than three months behind, you may have some negotiating leverage. That leverage comes with a few strings attached, however. You may be able to negotiate a lump-sum settlement for your outstanding balance, where credit card company accepts a portion of your debt and writes off rest. They’re often willing to do this instead of turning your debt over to a collection agency, as it’s cheaper just to settle. The settlement amount will vary, depending on your interest rate, your balance and your payment history. This type of settlement comes with a couple of problems of its own, though. What if you don’t have money to settle all at once? If you can’t pay your bills on time, you probably don’t have cash to settle at once. Additionally, amount of your debt that gets written off will show up on your credit report as bad debt, and that will stay there for seven years.
Your credit card company may or may not be willing to work out a payment plan, but it costs you nothing to ask them, and negotiating a settlement with them may be cheaper for you than if you consult with a debt consolidation firm. If your credit card debt is substantial and you just can’t make payments, it’s worth a try.
©Copyright 2005 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a site devoted to debt consolidation and credit counseling, and StructuredSettlementHelp.com, a site devoted to information regarding structured settlements.
|
