Category Archives: Money & Finance

Your Credit

I never cared much about my credit; that is until Free Credit Report.com began airing these commercials….

lol. Honestly folks I have always cared about my credit. It may not have been evident when I was a youngin’,  fresh out of high school and being tempted by credit card companies but I did care. I knew better, I just didn’t value my credit enough, back when I was offered credit cards by those companies that prey on newbies. I had heard the “Stay away from the credit cards” story from my mom a million times, but of course I, like many of you accepted these offers and five years later owed them around $4500 for a line of credit of $1000. 

 I along with many other young adults was so tempted by the offers from these credit companies that we couldn’t and didn’t turn them down. Also the minimum payment of $20 a month made the deal even sweeter. I mean seriously, who can’t pay $20 a month?  Well obviously we couldn’t or just didn’t because if so we wouldn’t have received letters that said the following:

This is an attempt to collect a debt. Any information obtained will be used for that purpose.

The above account has been listed with this office for collection. Our client has referred your account to our professional debt collection agency for collection. Please remit payment in full in the enclosed envelope. If you wish to arrange payment by credit card or bank draft, contact our office at the telephone number listed above.

Don’t those letters piss you off?  Well if you are anything like I used to be, you would promptly tear them up and toss them in the trash once you opened them and realized that it was just those people harassing you about money that you didn’t feel you owed. After all, you were a child (only 18 or 19) when they forced those credit cards on you. You didn’t ask for them, they basically forced you to take them,  knowing that you were fresh out of high school, had no creditable job or income nor the wisdom to realize that these cards were not a good idea.

Almost ten years later you realize that not only were those cards not such a good idea, they were a very bad deal and so were the payday loans. Now, you also realize that you could have done better at paying your other bills that also went into collection. You could have done without that new furniture set that you were taken to court over after you stopped making the payments and you could have got your car fixed and kept up the payments instead of parking it in your grandmothers yard and getting a new one, regardless of the fact that you still owed payments on the one sitting in granny’s yard.

I say all of this to stress the importance of credit. When we are young, many times having good credit isn’t such a big deal to us, but as we get older and want something in life we realize that all of those little things we forgot or neglected to pay really do add up. All of the little things you got on credit along the way and never paid now have your credit shot. No one wants to extend credit to you anymore because you messed it up so bad so many years earlier.

If you haven’t checked your credit please take the time to do so. Don’t just check one, check all three Experian, TransUnion and Equifax.  Why is it important to check all three? One good reason is that there may be different things listed on each report. When I checked my credit at Annual Credit Report.com where they allow you to check all three, I noticed that some things weren’t listed on all three reports. While one report had more in-depth information on each item listed on my report. 

If you haven’t been actively tracking your credit, start now. If your credit isn’t the best, do as much as you can to repair it. Maintaining a good credit rating is very important.

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Scams

imagesEvery blue moon I check my Yahoo email to see if anyone important doesn’t know that my yahoo email has a miscellany of junkmail, therefore I have a new one and no longer use it. Well it never fails that I have a trillion scam emails in my inbox that will remain their indefinitely because I won’t take the time out of my hectic day to delete worthless emails from spammers.

But I do have a question…

Who actually falls for this crap? I mean seriously who gets an email that says that they have won a million dollar sweepstakes, that they didn’t even enter; and now they only need to send in a check of $1000 to claim their prize. I mean seriously, who falls for bullcrap like that?

Here is the latest of the scams that I received. This one was quite funny being that I just blogged recently about the stimulus checks and how some people were claiming they the amount they received in 08 was now being deducted from their 2008 tax return. Well in this email they are claiming that they can give me a stimulus check! Isn’t that great! lol

The email goes something like this; Dear U.S. citizen

For a limited time we can get you a U.S. stimulus check to spend on household expenses, put in your savings or put away for retirement.

The email then goes on to give me options on the amount of stimulus money that I would like to receive.

Now most of us who have common sense and use it know right off that this is a scam and we wouldn’t dare click any of the links in this email or be foolish enough to try and receive these funds, mainly because as I stated earlier, we have common sense and we use it. We are aware of these scams and hoaxes and know that they are all fraudulent and are set up to take your money. So when we receive these kinds of emails we delete them or have them marked as SPAM.

So with everyone knowing that these scams are out there, why did this woman lose $400,000 after she fell for one of these scams? The woman says that she was in no way a sucker or an easy mark and that she decided to be a part of this offer because the email stated that she would be helping a long lost relative and in return she would receive $20.5 million dollars.

Let’s stop there….

Why would someone need money from you, if they can in return give you millions of dollars? Does that make any sense?

Of course it doesn’t, but not making sense didn’t deter this man from falling for one of the oldest tricks in the book; the pigeon drop. I didn’t know people were still pulling pigeon drops, nonetheless that people were still crazy enough to fall for one. My uncle fell for one in the late 70’s and the story has been told in my family over 20 years, so I have known not to fall for a pigeon drop since I was about four years old.

And even though I can’t say I can fully understand these people falling for scams, I can say that they are more susceptible to these scams due to their age and their lack of knowledge that these things exist. So when these elderly people fell for an over the phone money wire transfer scam, it was more understandable than some who is computer literate and should know better.

Maybe those people should have read thisOr checked out what the FBI had to say about internet fraud. Then they would have been fully aware of the fact that when you win something you don’t have to pay. Now that may seem like common sense, but far too many people are falling for these scams for common sense to be in use.

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Here is just a bit of advice from me to you. If you receive any emails, phone calls or solicitations that start with the following wording or any variation of it, please know that it is a scam. Feel free to delete it and avoid being scammed.

<<<SCAM>>>

Dear Sir

First we must solicit your confidence in this issue. This is by virtue as being utterly confidential and “top secret”.
<<<SCAM>>>
Lagos, Nigeria.
Attention: The President/CEO
Dear Sir,
Confidential Business Proposal

Having consulted with my colleagues and based on the information gathered from the Nigerian Chambers Of Commerce And Industry, I have the privilege to request your assistance to transfer the sum of $47,500,000.00 (forty seven million, five hundred thousand United States dollars) into your accounts.<<<SCAM>>>

 

Hello

“It is my pleasure to share with you a business opportunity, in which I would like to transfer a sum of money from a bank in (Japan/Nigeria/any of the 50 states/hell any damn where it’s still a scam) where I worked. If you are interested in this business opportunity, please kindly reply

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***Please remember that if it seems too good to be true, 99% of the time it is too good to be true. The other 1% will never happen to you anyway so take them all for what they are SCAMS!