Avoid Credit Traps Carroll County, MD Series Part 6

Avoid Credit Traps

Carroll County, MD Series Part 6

 

6 Part Blog Series: Discover how to get your financial house in order.

 

Avoid Credit Traps

 

Avoid Credit Traps Carroll County, MDHonest people are often shocked when we hear of the latest scam or crime occurring just down the street. We can’t even fathom how one human could treat another so badly. Honesty and integrity are values we carry with us throughout our daily lives and activities. If you were to find a wallet in a grocery cart, accidently left behind by the previous shopper, you’d likely turn it in. We have to wake up and smell the coffee! There are more scams and credit traps in our world than water in the oceans.

 

English poet Thomas Tusser once said “A fool and his money are soon parted.” I’m not saying honest people are fools, we just don't think the same way criminals do. We simply aren’t wired the same way. We need to practice prevention, just like we do for keeping our children safe crossing the street, cooking meals and preventing fires.

 

5 Credit Traps to Avoid:

  1. Store credit cards - high interest rates, limited use.

  2. Payday lenders - 200-700% annual percentage rate

  3. Check cashing stores 200-700% annual percentage rate

Here’s what Maryland has said about Payday & Check cashing lenders

Maryland DLLR: “BE ADVISED: It is a violation of Maryland law to collect on loans that exceed permissible interest rate caps.”  For full details visit: Maryland DLLR

  1. Rent to own - Exorbitant prices.

  2. Immediate Income Tax Refunds aka Tax Refund Anticipation Loans

 

3 Rules to help prevent scams and identity theft:

Just pass. If it sounds too good to be true, it probably is.

Never give any personal information to someone over the phone or via email that you did not initiate.

Limit unwanted calls, email and postal mail:

Calls:  Landline and Cell phone do not call registry: 1-888-382-1222 Call from the number you want to register.

Email: Spam use your email filters, use a separate email for shopping and miscellaneous activities keeps your primary email a bit safer.  

Mail: Pot out for 5 years or permenantly OptOutPrescren.com or you may send a written request to permanently opt out to each of the major consumer reporting companies. Make sure your request includes your home telephone number, name, Social Security number, and date of birth.

 

Experian

Opt Out

P.O. Box 919

Allen, TX 75013

TransUnion

Name Removal Option

P.O. Box 505

Woodlyn, PA 19094

Equifax, Inc.

Options

P.O. Box 740123

Atlanta, GA 30374



Scams and Identity theft are often shrugged off as hogwash and “that will never happen to me mentality.” I hope it doesn't, I hope you are right. I’m here to tell you it does, it happens all the time. Talk about it at work or in your circles, if you haven't already, and you will soon see scams and identity theft are happening constantly. Our friends, our loved ones and business acquaintances are all experiencing it or know someone who has. I’ve added a number of links to interesting stories and tips that I came across while researching this post. It’s mind blowing and it’s here to stay. The best thing we can do, as individuals is to educate ourselves and our children.

 

Avoid Identity theft by monitoring your accounts and restricting personal information here is more information on  How to Save Money and Protect Your Identity from theft - FREE!




Never give your credit card number over the phone

Never give your social security number over the phone

Telephone solicitations

Work at home schemes

Credit repair schemes

Internet scams - auctions, internet access, credit card fraud, web cramming.

Wire Transfer scams, Real estate wire transfer fraud

Mortgage Fraud

Identity theft

Rental Scams, Caveat Renter

Credit card safety

FBI Scams & Safety

Federal Trade Commission Consumer Information

OptOutPrescren.com



6 Part Blog Series: Discover how to get your financial house in order.

 

Avoid Credit Traps Carroll County, MD Series Part 6

Philling StationDiane M. Phillips, REALTOR®

Military Relocation Professional


Cell/Text: 443-286-4365
Office: 1-877-FRANKLY
DianeJustSold@gmail.com
RealEstatePhillingStation.com
FranklyRealty.com
Follow me @DianeJustSold
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 Frankly RealtyMilitary Relocation Professional

 

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Comment balloon 2 commentsDiane M. Phillips Realtor 443-286-4365 • December 29 2015 07:28PM
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