|
|
 |
|
Our News
|
|
|
|
|
| [07-19-2011] |
| By Jason Alderman |
If you've ever fallen far behind on paying your bills, you know what it's like to dread whenever the phone rings: What if it's another bill collector? Ignoring the call – like ignoring a toothache – is never a good idea. Sooner or later, you're going to have to deal with the situation.
According to Gail Cunningham, spokesperson for the National Foundation for Credit Counseling (NFCC), "Our 2011 Financial Literacy Survey found that most people – 68 percent – pay their bills on time. However, 28 percent said they experience difficulty making timely bill payments."
Ideally, you should contact your lender as soon as you realize you may have difficulty paying a bill. They would much rather work out a repayment plan than enter the costly and time-consuming collections process. But, if that ship has already sailed, here are a few precautions you can take to protect your interests:
You have certain rights whenever dealing with debt collectors. For example, collectors cannot harass you by:
• Using abusive language or threatening violence or arrest.
• Calling before 8:00 a.m. or after 9:00 p.m.
• Falsely representing themselves as attorneys or government employees if they are not.
• Threatening to sue you if they don't intend to.
• Contacting you at work if you tell them your employer disapproves.
• Contacting others, except to verify where you live and work.
• Revealing to others that you owe money.
If a collection agency contacts you initially by phone, they must send written notice within five days stating how much you owe, the name of the creditor owed and how to file a dispute if you don't agree. Once contacted, you should:
• Get names of all persons calling and their agency, its address, phone and fax numbers.
• Take detailed notes of all conversations, correspondence and pre-recorded calls, noting names, dates and times.
• You may request that all subsequent contact be handled by mail. Send this request – and all further correspondence – by certified mail, return receipt requested.
• Request that all conversations be followed-up in writing.
• Document any false, misleading or harassing statements and include them in your correspondence.
• Request full details about any debts the collector claims you owe, including dates, amounts, lender's name, etc.
• Instruct that you be the only person contacted, unless you want your attorney involved.
• Retain all records indefinitely in case of future disputes.
• Have all agreed-to repayment plan terms verified in writing, including promises to remove or adjust reports to your credit history.
If you feel you've been targeted in error, tell the collection agency – in writing – that it has the wrong party and to stop contacting you. If they can't provide proof, by law they must cease collection efforts.
Unfortunately, it's not uncommon for identity thieves to run up debt in someone else's name and to have those unpaid debts eventually go into collection. That's why it's important to check your credit reports regularly and to report any errors or mistaken transactions immediately. You can order one free credit report a year from each of the three main credit bureaus through www.annualcreditreport.com.
The Privacy Rights Clearinghouse's "Debt Collection Practices: When Hardball Tactics Go Too Far," offers great tips on navigating the debt-collection process, including your privacy rights, sample letters and where to turn for help (www.privacyrights.org/fs/fs27-debtcoll.htm).
________________________________________
Jason Alderman directs Visa's financial education programs. To Follow Jason Alderman on Twitter: www.twitter.com/PracticalMoney
|
| [12-03-2010] |
| By Stacy Johnson |
It seems to me that, by and large, men are much easier to buy for than women. Although I’m a man, and therefore biased, I think I’ve got a strong case: In general, women want gifts that represent feelings and emotions, which for men tends to result in a lot of head-scratching and trips to the jewelry store. Men, on the other hand, just want to have fun.
As we said in 5 Dumbest Gifts For Your Girl, never buy a woman anything that plugs in. Men, on the other hand, are perfectly happy with power tools, games or computers – pretty much anything that moves, has lights or makes noise.
Clothes
I often get clothes as gifts, for an obvious reason: unless somebody gives me clothes, I’d most likely be naked by now. Because while I can easily remember my last trip to the hardware store (about two hours ago) I can’t remember the last time I went into a store and bought clothes. Plus, I’m forever forgetting to change into crappy clothes before embarking on home-improvement projects, so I’m continually ruining the few stain-free clothes I have left. So there’s no question that I need and expect clothes for Christmas. But this isn’t a story about what guys need, it’s about what guys want.
Gift cards
We said the same in 5 Dumbest Gift Ideas for Your Girl – this gift shows you cared enough to grab a piece of plastic from a grocery store end-cap. I honestly believe that gift cards are the worst present ever invented. I understand the logic: gift cards allow you to give someone something that they really want, allows them to get it cheaper at after-Christmas sales, yada, yada, yada. But could anything be less personal? I’d much rather have you miss the mark entirely and get me something stupid than buy me something that shows me that not only do you not know what I want – you don’t even care enough to take a stab at it.
Tickets that are really for you
Guys and girls are both guilty of this: Getting something they really want and hoping the other person will like it, too. Everyone wants to share hobbies and interests with their partner, but gift-giving isn’t the place for it. You might be trying to convince yourself by thinking you’ll introduce him to something new. It’ll expand his horizons, you say – but it probably won’t because guys are resistant to completely new concepts, especially the kind that don’t involve action, violence, noise, beer or the possibility of someone dying. He doesn’t want tickets to the opera, a museum, a play, or a concert featuring your favorite band. Focus on what he likes: sure, it could mean spending the evening at a monster truck rally, but hey, that’s why it’s special.
There’s only one thing you can buy for yourself that he might like: lingerie.
Self-help anything
Are you trying to be nice, or is this some sort of passive-aggressive attempt at controlling my behavior? You’re supposed to like me the way I am – or at least act like you do. So please don’t give me a gym membership or the South Beach diet book. If you know that I like to roller-blade or bike, and I’m already doing it, fine. Buy me blades or a bike. But the last thing I want from you on Christmas morning is thinly veiled hints that I’m not OK: you’re supposed to tell me that stuff directly when we’re fighting.
Self-portraits
As I mentioned in the video above, the worst gift I’ve ever gotten was a collection of pictures from my girlfriend at the time. She had gone to one of those glamor photography places and bought a package of pictures that ranged from a calendar to a giant, framed portrait of herself that was – I swear to you – about twice life-size. I hung it on the wall that faced my bedroom door, and every time I walked into the bedroom and turned the light on it scared me half to death. It wasn’t that she wasn’t attractive: she was. And I didn’t mind having her picture. But a billboard? Please. True story: after we broke up, she ended up marrying a good friend of mine. I told him I had all these pictures of her in a closet and asked him to come pick them up – he flat-out refused.
If you want to give him pictures of you – especially pictures of the two of you together that spark great memories – go for it. Just avoid giving anything that has to go up on a wall.
Video games
This one is tricky, because video games might be exactly what he really wants. The problem with this gift is that once you give it to him, for the next month he’ll be a zombie, barely leaving the sofa long enough to eat or shave. Go ahead; set the house on fire. He won’t notice. If you’re giving the gift or games, make sure they’re suitable for two players and you’re down with it too.
Cologne
This can be a nice gift, and I certainly want to smell nice for you. But since I rarely remember to wear it, if you gave me cologne last year, odds are I still have plenty left. Better idea? Give me some fancy shaving cream and a shaving brush to lather it up. I shave a lot more often than I wear cologne, and this is a nice luxury. I got an Art of Shaving set from a friend for my birthday and I’ve really enjoyed it. Which reminds me of another horrendous gift…
Electric Razors
Every year about this time you start seeing the ads for electric razors. Over the decades the prices have changed – now you can easily spend $150 on one – but the claims remain the same: “Shaves as close as a blade!” No it doesn’t. If you ever need concrete evidence that people respond to advertising, consider the fact that pretty much every man and woman in America has at one time or another given or received an electric razor, when everyone knows that they simply don’t work as well as a blade.
Appliances
At the start of this article I said that men – as opposed to women – like things that plug in. But note I also said that they like things that move, have lights or make noise. A toaster oven doesn’t do any of these things. Table saw? Absolutely. George Forman grill? No thanks. Besides, I do my grilling where all men do: on the patio.
So what’s left?
If you don’t know what to get him, just ask. Guys are usually straightforward and open about what they want. If he has no idea, your best bets are technology, tools, and car accessories. If it’s practical, that’s great. If it’s fun to play with, that’s even better.
|
|
|
|
|
|
|
|
|
|