Active Duty? Are you receiving all your SCRA benefits?

I recently heard about a creditor who is providing 0% interest rates as a benefit to active duty servicemembers who are having difficulty paying their credit card bill. In order to qualify for the additional benefits, the servicemember has to contact their creditor to let them know they are experiencing a financial hardship and they also have to qualify for assistance under the Servicemember’s Civil Relief Act of 2003 (SCRA). We have listed an overview of the SCRA below, as well as an outline of how to qualify for coverage and what benefits are available. For more information on the program above, or to learn more about benefits available under the SCRA contact a certified credit counselor today. Call 888-864-8659 or...

Posted on Oct 16, 2011

Tip 4. Pay Medical Bills on time

If you wait too long, your lack of payment may go to a collection agency and be reported to a credit bureau. Because many medical expenses are an unplanned, surprise expense, it can be difficult to determine how to pay the bill. This is especially true if your budget is already tight. Unfortunately, this causes many people to avoid opening the bills and to set them aside with the intent to deal with them later. Medical providers want to help people pay their bills. They are in the business of helping people and they, just like any business, want you to be happy with their service. They also need people to pay their bills in order to cover the costs that insurance...

Posted on Oct 13, 2011

Tip 2. Make sure you understand your bill

You may get two or three statements before your real bill arrives. There are many reasons why medical bills are confusing. First, you may receive several bills from different providers for one medical visit. This means you’ll have one from the doctor, one from the hospital, one from the laboratory, one from the anesthesiologist – you get the picture. In addition, you may receive a few letters or statements from the hospital before you get the actual bill. Typically, hospitals will send a statement that includes the total charges, the estimated insurance payment, and your Estimated Payment Responsibility. This statement arrives shortly after you receive treatment.  This is NOT a bill.  It is the hospital’s best estimate of how much...

Posted on Oct 05, 2011

See a Penney - Pick it Up

It seems like one of the hardest things for us to do is save money. In the classes I teach I often hear things like: “Save? How can I save when I don’t have any money?” “I’d like to save, but there isn’t anything left after I pay bills, get gas and buy groceries.” “I do save, but then I end up getting into the money for something.” Of course, it is true that you have to have money in order to save money. But, there are things we can do to make it more likely that we are able to put a little bit aside and keep it there. Start with a small goal. This sounds crazy, but I have had people start good,...

Posted on May 22, 2011

Check Your Fourth Credit Report!

Along with your free credit report from each of the three major credit bureaus, you are also entitled to a free copy of your ChexSystems report every year. The ChexSystems, Inc. network is comprised of member Financial Institutions (banks and credit unions) that regularly contribute information on mishandled checking and savings accounts to a central location. ChexSystems shares this information among member institutions to help them assess the risk of opening new accounts. To receive your free copy use one of the following methods: ◦       Request it online – www.consumerdebit.com ◦       Through the mail –          ChexSystems, Inc. Attn: Consumer Relations 7805 Hudson Road, Suite 100 Woodbury, MC 55125 ◦      Or via fax – (602) 659-2197

Posted on Apr 11, 2011

Need a Plan for Paying Taxes? Read on

I know you’ve all heard it – you have until April 18th to file you taxes this year. Great news if you are not having trouble rounding up the funds to pay the tax bill. But what about those who do owe and cannot pay? What are the options? Here are three choices offered up by the IRS. Additional Time to Pay Based on your circumstances, you may be granted a short additional time to pay your tax in full. A brief additional amount of time to pay can be requested through the Online Payment Agreement application at http:www.IRS.gov or by calling 800-829-1040. Taxpayers who request and are granted an additional 60 to 120 days to pay the tax in full...

Posted on Apr 07, 2011

Five Ways to Lose Your Money and Your Identity

The best way to lose money and your identity is to ignore a lost wallet or purse. If your wallet or purse containing credit or debit cards is misplaced or stolen, do not worry about it. There is no reason to immediately contact the banks who issued the cards and ask them to close the accounts or, at least those cards. Your maximum liability if you turn in the loss or theft is probably $50. You want to pay more right? Another popular choice is the easily identified password or pin like your date of birth, mother’s maiden name, or consecutive numbers (1, 2, 3, 4…). Keep it simple…for you, not everyone else. My favorite? Never check your credit report! I am...

Posted on Mar 31, 2011

Looking for a Used Car? Ask the Right Questions

One of the most stressful buying experiences can occur when you are purchasing a used vehicle. Used vehicles can save you a lot of money compared to buying a brand new vehicle – if they are in good shape. Below is a great article from MSN Money on How to Shops Smart at a Used Car Lot. Seven years ago, when Alysia Welch-Chester needed a new car, she settled on a 2001 Toyota Prius that she found at a used car dealership. “(It was) the best $7,000 I’ve ever spent!” she says. Secondhand cars present a great option for consumers, because a new car depreciates in value almost as soon as the dealer hands the keys to the owner. “There is no better deal...

Posted on Mar 28, 2011

Positive Credit Through Secured Credit Cards

People often ask me how they can improve their credit after bankruptcy or a history of unpaid bills. The first and most important thing is to always pay your bills on time. But the next best way is to establish a positive credit history using a secured credit card. How it Works A secured credit card is backed up by your money. Along with your application for the credit card, you also send a deposit which acts as the security for the loan in case you do not make your payments. The deposit amounts vary between $200 and $5,000 depending on the card company. The deposit makes lenders more willing to extend credit because they know if you do not pay, they...

Posted on Mar 16, 2011

HERE ARE SIX OPTIONS FOR ENHANCING YOUR TAX REFUND

Pay down debt. This includes credit card debt, mortgages, student loans or other outstanding bills you may have. Paying them down reduces the interest you pay and helps avoid unnecessary fees.   Start your emergency fund! If you do not have a savings account set aside for emergencies, start one now. Enjoy the sense of security it can bring. Buy a U.S. savings bond or invest in Certificate of Deposits (CD).  You can purchase these bonds and CDs from most banks and credit unions. They are a safe way to earn interest on your money. Start or add to an IRA.  If you qualify for a tax-deductible IRA, you have until April 15th to contribute and claim the contribution for your current tax return. ...

Posted on Feb 14, 2011