Scams Made Easy

 Need a loan? Less than perfect credit? No credit? Bankruptcy? No problem! Generic lending company can help you get approved for a loan right now! We have all heard the commercials or even seen them in the Internet. Some company offering a loan to help you meet your needs regardless of your credit qualifications. Unfortunately, these offers are often scams or loans that leave consumers worse off financially than they were when they started. Here are some more warning signs that a lender you are considering is actually operating a scam. The guarantee. A legitimate company will not guarantee they can provide you a loan, “regardless of your credit.” Loans made without accessing your credit report will, most likely, have numerous fees and high interest rates.  You...

Posted on Jun 27, 2010

Personal Money Management Quiz

April is Financial Literacy month so this newsletter is dedicated to helping you assess your current money management habits. Good money management skills are very important in life. They can help you prepare for emergency situations, plan for retirement, and avoid paying too much for everyday needs such as auto insurance, home loans, and even utilities. Complete the personal money management quiz below and then turn the paper over to calculate your score. For questions 1 - 11 select (A) Always, (S) Sometimes, or (N) Never. For questions 12 - 15 select (T) True or (F) False. 1 I use a budget to help manage my finances. A S N 2 I pay my essential bills (rent or mortgage, utilities, etc.) on time. A S N 3 I save 10% of my income on...

Posted on Mar 29, 2010

Giving the Bounce to Counterfeit Check Scams

(NAPS) - A new scam is swindling consumers: checks that seem legitimate to both bank employees and consumers, but that are counterfeit and leave unsuspecting consumers footing the bill. The Federal Trade Commission has a new brochure, “Giving the Bounce to Counterfeit Check Scams,” which explains common angles used in these scams, the responsibilities of banks and consumers when it comes to counterfeit checks, and advice on how to avoid them. While the angles used by scam artists may vary, the basics of the counterfeit check scam remain the same. The consumer receives a generous check with an explanation that he or she has just won an award, a prize, a lottery or some other windfall. The consumer is instructed to deposit...

Posted on Jul 22, 2009

Financial Literacy Issues Bring Senator Derek Kilmer to AFS

For Immediate Release September 9, 2008 Bremerton, WA ‐ Financial literacy issues bring Senator Derek Kilmer to local Credit Counseling Agency. With shared concerns regarding the deepening credit crisis accompanied by a weak labor market, high inflation and falling house prices, Senator Kilmer met with Ron Lafayette, President of the North Seattle Community College and Hank Keaton, President of American Financial Solutions (AFS) to learn firsthand what services AFS is offering to consumers in financial distress. Consumers and borrowers whose home loans are resetting at considerably higher rates are having a difficult time keeping up on payments while soaring oil prices are eroding already marginal household budgets. They are finding themselves in need of help in identifying options for improving their financial situations....

Posted on Sep 17, 2008

Are You in Financial Trouble? Find Out Now!

Are you one of the many Americans feeling overwhelmed by growing credit card balances, diminishing savings, and the increasing cost of everyday necessities? The first step toward a financially stable tomorrow is facing your situation today. I suggest that you take the following quiz. The results will reveal whether or not you need to seek professional help to avoid falling into a deeper financial quagmire. Answer True or False to the below questions, and then tally your score. I normally pay only the minimum amount due on my credit card bills. My credit card balances increase each month. There are arguments in my home about money. I sometimes hide purchases from my spouse. I frequently charge items that I used to pay for with cash. I have thought...

Posted on May 21, 2008

April is Financial Literacy for Youth Month

Before April 2008 comes to a close, I want to share a tidbit of history behind Financial Literacy Month. Financial Institutions and Non Profit Organizations near and far have been working together promote financial change in today’s record high levels of debt. National Financial Literacy Month is recognized in the United States in April in an effort to highlight the importance of financial literacy and teach Americans how to establish and maintain healthy financial habits. In 2000, Jump$tart, a National Coalition for Personal Financial Literacy, began promoting April as Financial Literacy for Youth Month. Finally, in 2003 the United States Congress showed its support. Senate Resolution 48 and House Resolution 127 asked President, George W. Bush to declare April as Financial Literacy...

Posted on Apr 29, 2008

Teach Your Child About Money NOW!

Will they ever learn? Or maybe better to ask, will we ever teach them? On April 9, 2008 Jump$tart, the National Coalition for Personal Financial Literacy, announced that financial literacy among High School Seniors is still on the decline. In Jump$tart Coalition’s biennial survey given to 6,856 high school 12th graders in 40 states, students correctly answered only 48.3 percent of the questions. This mean score is a decrease from those posted by the senior class of 2006, which correctly answered 52.4 percent of the questions. “The survey demonstrates that graduating high school seniors continue to struggle with financial literacy basics,” said Lewis Mandell, Ph.D., professor of finance and managerial economics at SUNY Buffalo School of Management. Mandell conducts the surveys for Jump$tart. Encourage...

Posted on Apr 22, 2008

Debt Free?

What do you consider “debt free?” Does being debt free include having no house payment, no car payment, no student loan, and no credit cards? Or are we just talking about the miscellaneous debts like credit cards, medical bills, personal loans, and collections? It’s all debt, but some debts cost us much more than others. Many people believe that in order to become debt free you must close or stop using your credit cards. While that may certainly help you, it is only a part of the answer. To become debt free what we need to do is have a plan for making, saving and spending money. Visit the American Financial Solutions’ Learning Center to find tips, classes, and calculators that will...

Posted on Apr 20, 2008

Washington State Representative Visits AFS on Impact of Housing and Credit Crunch

August 28, 2008 Press Release Bremerton, WA ‐ State Representative Larry Seaquist (D‐26th District) visits local Credit Counseling Agency on impact of housing and credit crunch. Rep. Seaquist, concerned with the economy and the impact on both low and middle income families, met with Hank Keaton, President of American Financial Solutions (AFS) and AFS staff to learn, first hand, about the impact of current economic stress on Washington residents. AFS, a nonprofit credit counseling agency in Bremerton, provided financial education and counseling on credit and housing issues to over 30,000 consumers in the last year. “What are you hearing from Washington families and what do you see about their future as we work through the slowing economy?”, Seaquist asked. “Many of the people...

Posted on Feb 15, 2008