All posts by Barbara Nevins Taylor

How Do I Find Out If Someone Used My Credit Card?

April 30th, 2014

updated September 17, 2017

Anyone worried about a stolen credit card, or credit compromised in any way, should take action immediately. You can do this yourself for free.

We made that suggestion to Melissa who has an all too familiar story. She’s shy about using her real name, but what she told us shows how easy it is to become a victim of credit card fraud.

After she ate lunch at the bar in a popular chain restaurant in Brooklyn, she paid with her Chase Visa card. The bartender took it and swiped it. Everything seemed okay.

But two days later, Melissa received an email from Chase alerting her about fraudulent activity on her account. The restaurant was the only place she used the card in that two-day period. She remembered that she left her credit card receipt on the bar, and thought maybe that’s how someone got her credit card information.

Melissa was upset because she likes the restaurant and she also worried about the effect on her credit. “I was scared. I wondered about a lot of things. How did it happen? How much did the person charge on my account, and how will it affect my credit rating?

In the email, Chase told her the bank was closing the credit card account and promised to sent her a new card with a different account number.

Melissa called Chase to follow-up, but she was still left with questions about the effect on her credit score.

“How do I find out if someone used my credit card?”Melissa asked ConsumerMojo.

We suggested that she review her credit report immediately to see if there is any fraudulent spillover, and if anyone opened an account using her information.

Do this immediately.

GO TO ANNUALCREDITREPORT.COM

You can get a free copy of your credit report three times a year by going to AnnualCreditReport.com. Do not pay anyone to pull your credit report. You can do this by yourself.

A federal law says that three credit reporting bureaus — Experian, TransUnion and Equifax — must make your credit report available to you. They teamed up to create AnnualCreditReport.com. Avoid other websites that promise to get your credit report.

We wrote this post before the Equifax data breach that compromised the credit reports of 143 million people and as a result of that hack you may have trouble getting your credit report online. So you may also want to read Why Your Credit Report May Not Be Available Online.

You can also write and request a copy:

Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 30348-5281

WHY SHOULD YOU CHECK YOUR CREDIT REPORT ROUTINELY?

It’s important to thoroughly review your credit report because prospective employers look at it, lenders look at it and many landlords use credit reports before they decide to rent to you. You also want to examine the report to:

See where you stand.
Make sure no one has opened accounts in your name.
Make sure the information on your credit report is accurate.

WHAT’S ON YOUR CREDIT REPORT?

Your credit report is a history of your financial life. It has your bill paying history. It lists and shows:
The credit cards you have, and your payment record.
The loans you have, or had, and your loan payment history.
Your mortgage and your mortgage payments.
Student loans you have or had, and the way you repay them.
Judgments or liens against you.
Alimony or child support payments and how you pay.
Money you may owe a doctor or healthcare provider.
Money you may owe a hospital.
Your outstanding parking ticket fines.
Whether you’ve been sued.
Whether you’ve been arrested.

The list will include all of your debts and financial activity and anything to do with your money. It is unlikely to include local retailers, gasoline credit card companies and landlords with just one or two properties.

Inaccurate Information

Credit bureaus make mistakes. If there is a mistake, you must dispute it. You do this by sending letters with proof — your cancelled checks, credit card receipts or other proof that you have paid a bill.

Experian-1-888-397-3742

www.experian.com

TransUnion-1-800-916-8800
www.transunion.com

Equifax-1-800-685-1111
www.equifax.com

The Federal Trade Commission created a sample letter. Or, you can use our version:

SAMPLE LETTER TO CREDIT BUREAU

Date

Your Name

Your Address, City, State, Zipe Code

Complaint Department

Name of Company

Address

City, State, Zip Code

Dear Sir or Madam:

I am disputing the following information in my file. I have circled the items I dispute on the attached copy of the form that I received.

This item (s) (List the item or items you’re disputing and the name of the source such as creditors or tax court and identify the type of account- credit card or judgment, etc.) is inaccurate or incomplete. (Describe what is inaccurate or incomplete and why). I am requesting that the item be removed to correct the information.

Enclosed are copies of my documentation that support my position. (Describe what you enclose: receipts, payment stubs, court records, etc.)

Please reinvestigate this matter (or these matters), and correct or delete the information as soon as possible.

Sincerely,

Your Name

Enclosures: List all the documents that you are enclosing.

Do not send originals. Send copies and keep a copy of your letter.

Send the same letter to the creditor with the same documentation. Send both by certified mail and keep your receipt.

CREDIT REPORTING COMPANIES MUST INVESTIGATE

Credit reporting companies must investigate within 30 days of receiving your letter. They also must send your dispute and your information to the company or organization involved. That company is required to investigate and report back to the credit bureau. If they find that you are right, the information must be corrected on your credit reports by all three reporting companies.

The credit reporting companies must give you the results in writing and a free copy of your updated credit report. This doesn’t count as one of the three free annual credit reports.

If there was an error, you can ask the credit reporting company to send a letter to companies or individuals who received a copy of your credit reporting within the previous six months.

If a company refuses to correct what you claim is an error, you can request that credit reporting bureau keep a copy of your statement in your file.

Theoretically, this should work. But many people have a great deal of trouble getting inaccurate negative information removed. If you have a problem, file a complaint with the Consumer Financial Protection Bureau (CFPB). It is actively investigating the way credit bureaus keep their files and handle complaints.
HOW LONG DOES IT TAKE TO IMPROVE YOUR CREDIT?

Your credit gets better as you pay your bills. But if it is really bad, it will take seven years of regular on-time payments to clean everything up.

If you had a bankruptcy, it will take ten years to clear your record.

YOUR CREDIT SCORE

What’s on your credit report is reflected in your credit score. Most banks and lenders use the FICO Score created by a private company called Fair Isaac Corporation. It developed a formula, or formulas for calculating your credit worthiness based upon the following.

35 percent based on your payment history.

30 percent based on the amount you owe.

15 percent length of credit history.

10 percent new cards.

10 percent types of credit.

FICO TIPS:

Apply for and open credit accounts if you really need them.
Don’t open accounts just to have a new card.
Closing a credit card won’t make the debt go away.

In fact, if you close a credit card it’s likely to factor as a negative in your score. If you clear your bill and don’t ever use it, that may be a problem too. So it’s probably a good idea to pay one bill with it, and keep it in a drawer the rest of the time.

3 Tips to Manage Credit Card Debt

Also when you use your credit card, make sure that you don’t exceed 50 percent of the limit. If you go beyond 50 percent, bankers advise that you split the debt between two credit cards. That it is likely to improve your credit score.HOW TO HANDLE OUTSTANDING DEBT

If you want to pay your bills but can’t make the monthly payments, NEGOTIATE.

A company will write off your debt after 180 days, but it is still held against you and you will still have to pay.

The company would rather have your money than write off the debt. It’s better for you, and them, if you negotiate.

Here’s what to do:

Call the customer service number on the back of the bill.

Be very polite.

Say that you would like to set up a payment plan.

See if you can negotiate a sum that you can actually afford.

If the person on the other end of the phone won’t help you, ask to talk to supervisor.

Don’t lose your temper.

Explain what you want. You are likely to get it.

If you don’t, go right to the top to reach a decision maker. Do a Google search. Find the name of the company president and the address and write a letter explaining what you want.

You may be surprised at how successful you are.

Why Your Credit Report May Not Be Available Online

Homeland Security Alert for Internet Explorer

April 29th, 2014

This is a PC user’s potential nightmare. The Department of Homeland Security (DHS) reports a security breach in Internet Explorer versions 6 through 11 and it suggests using another browser.

An advisory says there’s a vulnerability in Internet Explorer that allows someone to insert code in the browser. The code may create a message or link that could lead you to a site that may contain malware or worse.

Homeland Security also suggests that the hackers may use Adobe Flash to break into the system. Its release says, “Although no Adobe Flash vulnerability appears to be at play here, the Internet Explorer vulnerability is used to corrupt Flash content in a way that allows ASLR to be bypassed via a memory address leak. This is made possible with Internet Explorer because Flash runs within the same process space as the browser. Note that exploitation without the use of Flash may be possible.”

Microsoft acknowledges the problem and warns, “An attacker could host a specially crafted website that is designed to exploit this vulnerability through Internet Explorer and then convince a user to view the website.”

Microsoft says it’s investigating and may provide security updates to explain what consumers should do.

But in the meantime,

Homeland Security offers this partial solution: “The Microsoft Enhanced Mitigation Experience Toolkit (EMET) can be used to help prevent exploitation of this vulnerability. Note that platforms that do not support ASLR, such as Windows XP and Windows Server 2003, will not receive the same level of protection that modern Windows platforms will.”

The bottom line — you may want to switch browsers and choose Firefox or Safari.

ADOBE VULNERABILITY

Homeland Security also says it’s aware of “active exploitation of a vulnerability in versions of Flash Player, which could potentially allow an attacker to take control of an affected system.”

DHS suggests, “Users and administrators review Adobe Security Bulletin APSB14-13 and apply the necessary updates.”

How Does Your Garden Grow?

April 26th, 2014 2 Comments

Gerry and Mary Chambers sent us these glorious photos of their garden in Augusta, Georgia. They stirred our imagination and whet our appetite for more. How does your garden grow? Share with us.

Post your garden pictures in our comment section and tell us something about the garden or a place you like where things grow.

Here’s Robert Frost’s garden recollection

In a Vale

by Robert Frost,

When I was young we dwelt in a vale

By a misty fen that rang all night,

And thus it was the maidens pale

I knew so well, who garments trail

Across the reeds to a window light

The fen had every kind of bloom,

And for every kind there was a face,

And a voice that has sounded in my room

Across the sill from the outer gloom.

Each came singly unto her place,

But all came every night with the mist;

And often they brought so much to say

Of things of moment to which, they wist,

One so lonely was fain to list.

That the stars were almost faded away

Before the last went, heavy with dew,

Back to the place from which she came—

Where the bird was before it flew,

Where the flower was before it grew,

Where bird and flower were one and the same

And thus it is I know so well

Why the flower has odor, the bird has song

You have only to ask me , and I can tell

No, not vainly there did I dwell,

Nor vainly listen all the night long.

And here’s another, this one by Emerson. It’s a little long but a nice read, especially if you’re catching your breath from working in your garden.

My Garden

by Ralph Waldo Emerson

If I could put my woods in song

And tell what’s there enjoyed,

All men would to my gardens throng,

And leave the cities void.

In my plot no tulips blow,–

Snow-loving pines and oaks instead;

And rank the savage maples grow

From Spring’s faint flush to Autumn red.

My garden is a forest ledge

Which older forests bound;

The banks slope down to the blue lake-edge,

Then plunge to depths profound.

Here once the Deluge ploughed,

Laid the terraces, one by one;

Ebbing later whence it flowed,

They bleach and dry in the sun.

The sowers made haste to depart,–

The wind and the birds which sowed it;

Not for fame, nor by rules of art,

Planted these, and tempests flowed it.

Waters that wash my garden-side

Play not in Nature’s lawful web,

They heed not moon or solar tide,–

Five years elapse from flood to ebb.

Hither hasted, in old time, Jove,

And every god,–none did refuse;

And be sure at last came Love,

And after Love, the Muse.

Keen ears can catch a syllable,

As if one spake to another,

In the hemlocks tall, untamable,

And what the whispering grasses smother.

Æolian harps in the pine

Ring with the song of the Fates;

Infant Bacchus in the vine,–

Far distant yet his chorus waits.

Canst thou copy in verse one chime

Of the wood-bell’s peal and cry,

Write in a book the morning’s prime,

Or match with words that tender sky?

Wonderful verse of the gods,

Of one import, of varied tone;

They chant the bliss of their abodes

To man imprisoned in his own.

Ever the words of the gods resound;

But the porches of man’s ear

Seldom in this low life’s round

Are unsealed, that he may hear.

Wandering voices in the air

And murmurs in the wold

Speak what I cannot declare,

Yet cannot all withhold.

When the shadow fell on the lake,

The whirlwind in ripples wrote

Air-bells of fortune that shine and break,

And omens above thought.

But the meanings cleave to the lake,

Cannot be carried in book or urn;

Go thy ways now, come later back,

On waves and hedges still they burn.

These the fates of men forecast,

Of better men than live to-day;

If who can read them comes at last

He will spell in the sculpture,’Stay.’

LEAVE YOUR PHOTO AND COMMENT

Featured Stories, Helpful Tips: Consumer, Helpful Tips: travel, Helpful Tips:All

Peru Tourist Warning Eased

April 25th, 2014 2 Comments

by Nick Taylor

A year or so ago the State Department warned Americans to avoid areas of Peru including the popular tourist sites Machu Picchu and Cuzco. The warning was based on intercepted chatter that Shining Path militants wanted to kidnap Americans and other westerners visiting the Peruvian Inca highlands. That warning is no longer in place, although Canada cautions its citizens not to travel to certain highland areas if they don’t have to.

It’s good news that Machu Picchu and Cuzco are off the U.S. State Department warning list, because it’s an eye-opening trip that’s relatively easy to make. We spent twelve days there not long ago, flying from New York to Lima and then catching one of the regular, short flights to Cuzco. We loved it and would go back in a heartbeat.

Cuzco is over 11,000 feet high and you need to take something to deal with the altitude. Our Casa Andina hotel in Yanahuara, and most hotels in the Valle Sagrado – the Sacred Valley of the Incas – offer coca tea but you can’t rely on that alone as an altitude remedy.

Machu Picchu

Machu Picchu was the highlight, of course. Most visitors reach this wonder of the world via train from Ollantaytambo, as we did, but trains also leave from Cuzco. Machu Picchu seems impossible when you actually see it, temples and terraces on mountainsides so steep they give you vertigo. Miguel, our coca-chewing guide, explained its social order, its construction, and the Incas’ grasp of astronomy over a several hour visit while llamas grazed on the heights and ignored the visitors. In addition to his excellent English, Miguel spoke Quechuan, a descendant of the Inca language that many natives of the highlands speak with pride.

Inca construction remains a wonder. They didn’t have the wheel, metal tools or cement and their only pack animals were llamas and alpacas, yet they moved and shaped and joined huge blocks of stone into buildings and cities that have endured for centuries without crumbling.

Valle Sagrado

Machu Picchu is a must, but the Valle Sagrado has much more to offer. We visited other Inca sites with Chino our expert local guide. These included farming terraces that grew different crops only feet apart in elevation to mimic different microclimates. We saw Spanish colonial towns and a salt farm of collecting ponds fed by natural springs. We bicycled along mountain trails that brought us in close touch with the rugged Andes. You can also take mountain rides on horseback. Our hotel was a central jumping off spot for all these adventures and even offered night views of the Southern heavens from its small planetarium.

Cuzco

We returned to Cuzco, the former Inca capital, to conclude our visit to the highlands. It’s an easily walkable town with good restaurants and a lot of shops that sell alpaca sweaters at bargain prices. We saw examples of Inca stonework everywhere. On Loreto, a narrow pedestrian street leading to the main square, a sidewalk barker pointed out “the famous twelve-sided stone” in a massive wall. It showed, impressively, the pains the Inca masons took to make their jigsaw puzzle pieces fit into a whole. We visited Inca and pre-Columbian art museums, and the Church of Santo Domingo, built upon the ruins of an Inca temple.

There was a local festival going on. The Festa de Santa Rosa de Lima, patron saint of the police, brought brightly costumed marchers and beautiful dancers into the streets. Detectives and uniformed police were everywhere, chatting up the girls.

Machu Picchu and the Sacred Valley account for most of the American and western tourists in Peru, and they give Peru’s economy a boost, so Peru had a financial as well as a diplomatic stake in neutralizing the Maoist-inspired Shining Path. It remains active as a criminal enterprise that levies tribute from cocaine growers in the remote jungle highlands. It’s always good to travel cautiously, but apparently Americans can once again explore the Inca highlands and enjoy one of the true wonders of the world.

Consumer News, Money News, News, Scam News

Cash The Telemarketing Refund Check

April 24th, 2014

There’s a little payback on the way for 4,800 people who fell victim to a telemarketing scam that promised to lower their credit card interest rates if they paid an advance fee.

The Federal Trade Commission (FTC) says that starting in 2011 National Card Monitor, an Arizona-based company, began a national cold-calling campaign that was allegedly a flat-out swindle.

The FTC says telemarketers falsely told consumers they would get them low-rate credit cards and balances from other cards could be transferred to the new ones. They asked for an advance fee of between $499 and $599. The callers assured consumers they’d get a full refund if they did not get a new card.

You know what happened? Nothing. The company agreed to settle with the FTC in July 2013. Its assets were frozen, but the amount of money it will give back doesn’t look like it will match what consumers lost. It’s a penny on the dollar kind of thing.

PENNY ON THE DOLLAR

If you were cheated by this scam you’ll receive $25.13. And it’s important to cash the telemarketing refund check as soon as possible. It must be cashed within 60 days of the day it was mailed. It’s small change, but why not collect it?

The FTC never requires an advance fee, or any kind of payment for these refunds. So if someone asks you for money to process the refund understand that it’s another kind of scam. Don’t fall for it.

If you think that you should be included in the refund program you can contact the company hired to send the money — Gilardi & Co., LLC. 1-877-295-8829.

Tips To Avoid Getting Ripped Off

Don’t give out your credit card information. Once a scammer gets it, he or she can run up charges on your account, or sell the information to others.

Don’t share any personal or financial information like your bank account or Social Security numbers. Scam artists casually ask for this and then use it in identity theft schemes themselves, or they sell the information.

Question any unsolicited sales calls that are prerecorded, especially if your phone number is on the Do Not Call Registry.

The FTC says, “If your number is on the National Do Not Call Registry, a telemarketer may call you only if you have agreed to accept calls from the company the salesperson works for, if you have bought something from the company within the last 18 months, or if you have asked the company for information within the last three months.”

You can report violations of the National Do Not Call Registry or to register your phone number, visit DoNotCall.gov or call 1-888-382-1222.

Money News, Mortgage News

Simplifying Mortgage Closings

April 23rd, 2014

Sign this. Sign that. Sign this one here. A giant paper shuffle plays out around a table at every real estate closing and for anyone who buys a home the entire process is a confusing blur. You sign and pray that everything is right.

Now the Consumer Financial Protection Bureau would like to bring the closing process into the 21st century. It’s examining ways to overhaul the practice and that can be tough because banking rules vary by state.

But the bureau takes a positive approach and plans to make suggestions for reform. A starting point is its new report called Mortgage Closing Process Pain Points that highlights typical homebuyer frustrations and complaints.

COMPLAINTS

Most people say there’s not enough to time to look over closing documents. They often don’t see the paperwork until they arrive at the closing table and then they’re urged to rush through everything even though they don’t fully understand the terms, or what’s going on.
There’s too much paperwork at closings. Some forms are required to help clarify things and theoretically help homebuyers understand what they are doing. Other forms cover lenders’ legal requirements and yet others are required by the federal government or the states. But the volume of paperwork varies from lender to lender.
Few of the documents are clear. Homebuyers often have no idea what the terms and jargon mean and they get little help from the professionals in the room. Sometimes there are even errors in paperwork.

CFPB Director Richard Cordray says, “Mortgage closings are often fraught with anxiety. We have taken action to address some of the problems consumers face, but more needs to be done.”

New rules from the CFPB that require clearer disclosure forms will go into effect in August 2015 . One form called the Loan Estimate provides a summary of the key loan terms and estimated loan and closing costs. The second, Closing Disclosure, gives a detailed accounting of the transaction.

But the most exciting possibility is promotion of an online closing system. Some online closings take place now. But the CFPB plans to launch a pilot project to test whether universal adoption of online closings can clear things up and benefit homebuyers.

Cordray says, “Our eClosing pilot project will provide valuable insight into how to improve the closing experience for consumers. ”

So maybe in our lifetime there will be a significant change and the next time you close on a home, you’ll understand everything and feel as though you are in control.

Mortgage Fees

Student Loan Co-Signer Nightmare

April 22nd, 2014

If you’re one of millions paying off your student loan, the burden can feel overwhelming. But it’s possible more will pile on to your load unless you’re careful. You could get caught in the student loan co-signer nightmare.

If your grandparent or parent co-signed for your loan and dies, that may trigger an automatic default and the lender can ask you for immediate repayment.

This is finally getting some attention, and it looks like there’s a remedy in the immediate future.

The Consumer Financial Protection Bureau tackled the issue of student loans. It estimates outstanding student debt for federal and private loans at $1.2 trillion for 2013 and consequently the bureau is working on constructive solutions.

To try to help borrowers, it analyzed complaints about servicing problems and found the auto-default provision in loans is a big problem. It studied the current practices and in a new report, the bureau asks lenders to review the default process. It also recommends changes lenders might make.

THE WAY CO-SIGNING WORKS

Typically borrowers take out federal loans on their own. But private lenders generally require a co-signer. Consquently, more than 90 percent of new private student loans are co-signed, often by a parent or grandparent.

Auto-defaults when a co-signer dies:

Many lenders demand repayment when a co-signer dies, often regardless of whether the borrower is up-to-date with payments.

And to make things worse, the auto-default is reported to credit bureaus with a negative impact on the borrower’s credit standing.

Auto-defaults when a co-signer enters bankruptcy

If the co-signer files for bankruptcy, even if the loan is in good standing, an auto-default kicks in for the borrower.

That causes crediting rating trouble and begins the cycle of calls from collection agencies.

Obstacles to releasing co-signers from the loan

Borrowers can ask for release from the co-signer.

The CFPB says, “Many lenders advertise that a co-signer may be released from a private student loan after a certain number of consecutive, timely payments and a credit check to determine if the borrower is eligible to repay the loan on their own. But most student loan servicers do not tell consumers when they are eligible to release their co-signer, so consumers need to ask directly for information on how to do this. “

But the CFPB says the process for release is complicated, unclear and mysterious.

SOLUTION

So the CFPB offers a solution to lenders to make the how-to process about separating from a co-signer crystal clear.

CFPB outlines steps that lenders could take to release borrowers from the co-payment problem.

In addition, it recommends that student loan borrowers contact their lenders and ask for release if they meet the requirements.

For consumers, it created a sample letter to send to loan servicers asking for release from a co-signer, and another sample letter for a co-signer to ask for release.

The bureau made it easy enough so that you can either send the full letter, or cut and paste to message the appropriate information when you log on to the servicer’s site.

The sample letter on how a borrower can release a co-signer is at: http://files.consumerfinance.gov/f/201404_cfpb_inquiry-letter_how-to-release-cosigner.doc

The sample letter on how to be released as a co-signer is at: http://files.consumerfinance.gov/f/201404_cfpb_inquiry-letter_how-to-be-released-as-cosigner.doc

First Person, Helpful Tips: Consumer, Helpful Tips:All

Spring Cleaning and Product Claims

April 18th, 2014

Despite the crazy weather in New York, the spring cleaning bug bit me and I began to root around in black bags that I filled with garden stuff and stored in the basement for the winter. There was an awful smell coming from one, and I had force myself to open it.

And then, I wanted to kick myself. I discovered the plastic bag was filled with pesticides that we probably shouldn’t have bought or stored.

And that got me to thinking about what I should buy, product labeling, and the claims made by companies and marketers.

The Federal Trade Commission (FTC) is the watchdog for advertising claims and it requires that companies tell the truth.

So what do the claims mean?

FREE OF

If a label says a product is “free of” a chemical or ingredient that poses a risk, it should be. There may, however, be a trace amount of it. But there shouldn’t be anything else that poses the same kind of risk.

VOC-FREE

VOC stands for volatile organic compounds found in paint, household cleaning products, floor polishes, charcoal lighter fluid, windshield wiper fluid, and some hair styling products and other things as well. They hit the air as gasses and can create ground level ozone that’s damaging to the lungs. Products that say “VOC-Free” or “low-level VOC,” should be.

VOCs in paint – If you are painting VOCs may be a concern. Base paint may be low-VOC or VOC-free. But the color that a store adds may not be. The tint can significantly boost the VOC level of paint and the amount varies from color to color. So if this is a concern, you might want to choose a color that’s low-VOC.

Ozone Friendly

This is one of these terms that sounds clear, but isn’t. We worry about two kinds of ozone layers.

The ozone layer in the upper atmosphere blocks harmful rays from the sun. Ground level ozone forms smog and can damage lungs and cause serious breathing problems.

So a company must be specific about its claims. If it’s “ozone-friendly” or “ozone safe,” the company must have proof that the product doesn’t harm the upper ozone layer or ground level air.

Less Waste

If all that extra packaging drives you wild, you may look for products that claim that its package is made with “less waste.” But don’t be fooled. The label should give you specifics about how much less waste it creates than the packaging for a previous version. It should say, for example, “10 percent less waste.”

Have something to say about product labeling? Comment and let us know.

Insurance News, Money News, News

8 Million Signed Up for Obamacare

April 17th, 2014

President Obama claimed bragging rights to say 8 million signed up for the Affordable Care Act. This is a million people more than the administration said was needed to make Obamacare work.

The White House may not have gotten all the young people it wanted, but it got a pretty good percentage.

35 percent of those who signed up through state federally- facilitated marketplaces are under 35 years old. Another 28 percent are 18 to 34. It was important to get young, healthy people to join the program to offset the cost of health insurance for older people who tend to have more medical problems.

The President also pointed out that 3 million young adults gained coverage because the Affordable Care Act allows them to remain on their parents’ health insurance plans until they are 26.

In addition, 3 million people enrolled in Medicaid and the Childhood Health Insurance Program, or CHIP, as of February. You can enroll in these programs year-round although you won’t be able to enroll in Obamacare until the next open enrollment period.

NEXT OPEN ENROLLMENT PERIOD

The next open enrollment period for Obamacare begins November 15, 2014 and ends February 15, 2015.

If you sign up in November your health insurance can begin as early as January 1, 2015. But you must make your first month’s payment before the health insurance kicks in.

APPLYING OUTSIDE OF THE OPEN ENROLLMENT PERIOD

You can only apply outside of the open enrollment period under these circumstances:

1. You’re getting married.

2. You’re adopting a child or a child is placed in your home.

3. You’re moving to a new area that offers different health plan choices.

4. You’re losing your healthcare coverage after a divorce, because you’ve lost your job, your COBRA is expiring, or you no longer qualify for Medicaid.

Robocaller Out

April 17th, 2014

Every couple of months we report a crackdown on a robocalling operation, but no one ever seems to go to prison. I guess we should be grateful for small acts that put some out of business.

The Federal Trade Commission (FTC) says a robocaller is out of the business for good, it hopes. Joseph Turpel allegedly sold services to telemarketers and the FTC reached an agreement that puts him out of the robocall business and requires him to pay a $395,000 penalty. But it’s suspended because he can’t afford to pay it.

The FTC says that Turpel headed an operation that sold robocall services to companies. His group made it possible for telemarketers to make illegal robocalls, call phone numbers on the National Do Not Call Registry, and mask Caller ID information.

According to the FTC complaint, Turpel’s clients offered credit card services, home security systems, and grant procurement programs. He allegedly gave clients the means to hide their identity by transmitting inaccurate caller names, such as “Service Message,” or “Service Announcement,” on caller ID displays.

The FTC first took action and brought Turpel and his company to federal court in the Central District of Calfornia in 2011. But it clearly takes a long time to get even a little bit of justice.

What you can do to keep a robocaller out.

1. Ask your telephone company if it allows customers to block calls from multiple phone numbers. It may charge for this service.

2. You might also want to check out the call-blocking services offered by other companies, including Voice over Internet Providers.

3. Search online shopping sites for “call blockers.” There are a number of blockers from different companies and it’s a good idea to read the reviews and see if one works for you.

4. Put a “special information tone” that signals a non-working number at the beginning of your voicemail or answering machine message.

5. If you have a smartphone, look for call-blocking apps.
Use a “virtual phone line” with call screening options, forward that number to your actual phone, and only give out the virtual number. This option might work if you’re willing to change your phone number and are tech-savvy enough to set up call forwarding and screening.

Robocall Alert

Helpful Tips: Mortgage and Homeowners, Mortgage News, News

Refinancing Possible For Some Facing Foreclosure

April 17th, 2014

If you’re a homeowner struggling to make your mortgage payments, rising real estate prices may help you avoid foreclosure. It’s possible that you may be eligible to refinance because your home increased in value in recent months.

RealtyTrac’s U.S. Home Equity & Underwater Report, for the first quarter of 2014, shows that 9.1 million U.S. homes were seriously underwater. That means these homeowners owed at least 25 percent more than the value of their homes.

And the description fits about 17 percent of all homes with mortgages. It sounds bad. But the number is down from a high in 2012 when 29 percent of all homes with mortgages were underwater. And that brings us to the good news.

It turns out that many homeowners who thought they couldn’t hang on may now be eligible for refinancing, according to Daren Blomquist, vice president at RealtyTrac.

Blomquist says, “The relatively high percentage of foreclosures with equity is surprising to many because it would seem homeowners with equity could easily avoid foreclosure by leveraging that equity by refinancing or with an equity sale of the home. But many distressed homeowners with equity may not realize they have equity and in some cases have vacated the property already, assuming that foreclosure is inevitable.”

Some areas of the country are doing better than others. Prices have gone up in the California cities Los Angeles, San Jose, and San Francisco, Poughkeepsie, New York, Honolulu, Hawaii. In those areas, fewer mortgage holders are underwater than elsewhere.

The real estate market remains depressed in Las Vegas, Nevada and Florida communities Lakeland, Palm Bay-Melbourne-Titusville, Cleveland and Akron, Ohio and Detroit, Michigan. These areas have the largest percentage of homeowners with underwater mortgages.

How Do I Refinance My Mortgage?

Agressive IRS Phone Scams

April 15th, 2014

The “IRS” phone scams continue. That’s why the real IRS issued another strong warning to guard against what it calls sophisticated scams.

Immigrants One of the scams targets immigrants. Telephone callers say you owe tax money and demand payment via a credit card, debit or pre-paid card. If there’s any hesitation, the caller threatens to revoke a driver’s license, deport or arrest the you.

Windfall Others may be told they are entitled to a big, windfall refund. But first they must put up money via a prepaid card. If one call doesn’t get immediate action, scammers often call again and continue to threaten and harass.

THINGS TO KNOW TO AVOID THE SCAM

1. Scammers use fake badge numbers and pretend to be IRS or government officials.

2. They may be able to recite the last 4 digits of your Social Security number. 3. The IRS does not call to threaten or demand money.

4. State tax departments don’t call to threaten or demand money.

5. You may hear noises in the background that make it seem as though it’s a call from an official center.

6. The IRS sends all requests by mail, not email.

7. State tax departments send all request by mail, not email.

If you’ve been contacted by someone working this IRS scam let the Treasury Department’s IRS Inspector General know. You can file a complaint online. http://www.treasury.gov/tigta/contact_report_scam.shtml You should also contact the Federal Trade Commission (FTC) and file a complaint. Share with us and leave a comment.

All 55 Plus, Featured Stories, First Person

Why Boomers Plus Continue to Play Sports

April 11th, 2014

by Nick Taylor

Saturday morning. It’s barely light, there’s snow in the air and slush in the New York City gutters, and I want to pull up the covers and go back to sleep. But there’s one thing that will get me up on a day like this, push me past the stiffness of old joints and out into the cold. That’s my tennis game.

The game started around the time I was born. I’m only part of its latest iteration. There are eight of us, all older players, and the game is central to our lives. We love the camaraderie and competition. We strive to harness and improve our physical skills even at the age when they deteriorate. When we hit the court, the game begins anew, full of possibilities. We’re as young as ever, and we play to win. It’s exhilarating!

And it’s not just tennis. It’s all games. People my age, a little younger and even much older, are competing at a range of sports in unprecedented numbers. Consider that there are 16.7 million baby boomers playing softball. More older athletes play sports than ever before. We’ve extended a cultural fitness revolution into new territory.

Former University of Florida golfer Bob Jewett, now a Level III-certified instructor in his late sixties, says, “We guys never grow up and we never lose the desire to compete, and most of us are happier than ever.

“Some of us practice a lot, others take a lot of lessons, others are always looking for new equipment, others are always trying to change their swings — we are just trying to improve. It must sound silly at our age, but we really do want to improve. And occasionally we do see a glimmer of hope.

“Like I always say, I feel sorry for any man who grows up.”

They feel the same way at Iowa Granny Basketball, a woman’s league that has branched out into three other states. “We laugh, we fall down, we giggle, we get up,” one team organizer said. “We’ve got to keep moving so we won’t stiffen up when we get old.”

The explosion of older athletes playing team sports from ice hockey to basketball, as well as runners, skiers, and bicyclers, dates to over forty years ago when Americans started to get fit. Ken Cooper published Aerobics and invented a noun. Runners, once confined to track meets, began appearing everywhere. Phil Knight founded Nike and buried canvas sneakers in an avalanche of athletic shoes for every sport. Jane Fonda put exercise to video and music and told us to “feel the burn.” Private gyms sprouted up and “cardio” joined “aerobics” in the dictionary. Health and fitness became a goal, and then a way of life.

We’ve worked at fitness for decades. It’s been part of our lives and we’re not giving it up now. We’ve turned to sports – or returned to sports we used to play – because they make fitness fun in a way that visits to the gym can’t do all by themselves.

Granny Basketball is only one example of the leagues and teams and associations that populate this growing trend. The Gerihatricks are ice hockey players in their 60s and 70s who play outside of Washington, D.C., and other seniors strap on their skates in similar leagues across the country. The Colonie Senior Basketball League near Albany, N.Y. has fourteen teams of players over 50, with divisions for players into their 70s. Similar leagues exist from coast to coast. Senior Softball USA includes 30,000 players who compete in tournaments nationwide; they’re a small portion of the millions of boomers who play slow-pitch softball in church and recreational leagues, according to the Sports & Fitness Industry Association.

The Vail 50, an over-50s club of skiers, bicyclers and hikers in Colorado’s Vail Valley, is 900 members and growing; they take skiing master classes to tackle black diamond slopes and pedal 100 miles a day on mile-high roads. Older tennis players, golfers and runners and bicyclists, organized and freelance, also number in the millions.

These developments have changed the stereotypes of old age. As Senior Softball USA puts it, “Today grandpa is at shortstop, grandma is pitching, and they won’t be home until the game – and the tailgate party with their teammates – is over.”

As Senior Softball USA makes clear, players rely on their teams and sports for more than recreation. Games reveal character. And demand it. Every older player has been injured, some more seriously than others. Every one has played through pain, fought through rehabilitation, had gaps in their games revealed and exploited. They understand that their games say who they are and because of it, they’re tempered by them. Even late in life, games still have much to teach us about who we are, and that knowledge leads to deeper friendships.

Optometrist Kenny Mendelsohn, 61, has played in a basketball game on Long Island for thirty-five years. The players are in their fifties and sixties. He told me, “Our group has weathered many personal storms including deaths and illnesses. The strength and comfort that we get from playing ball together has been key to resilience.” One player lost his son in a traffic accident, but was back on the court a week later. “We were surprised,” said Mendelsohn. “But he said it was the only way he could get his mind off what had happened.”

Another of Mendelsohn’s teammates, an active 70-year-old who also joined the game at its beginning, said, “Playing ball has enriched my life and it keeps me young.” He also bikes, swims, and plays golf. He’s not long on stretching or preparing beforehand, but said if it came down to it he would do whatever he had to do to keep playing. Indeed, he started twice-a-week personal training sessions a year ago.

I recognize that impulse. I signed up with a personal trainer at about the same time. When he asked me what my goals were, I said, “I want to keep playing tennis well within my age group and maybe get a little better. And I want to keep from getting hurt.” The process has been a revelation. My gym sessions went from general to specific. They’ve improved my tennis fitness and my game.

We older athletes are the latest, and perhaps last, phenomenon of the baby boom generation. From Woodstock to Viagra, our numbers have always set trends and attracted marketers. Now, according to the International Health and Racquet Sportsclub Association, fitness club members over 55 number over 11 million, up five-fold from 1990, a much faster rate of increase than other age groups. The trend has in turn produced a new class of fitness instructors such as 59-year-old Roseann Brown, who teaches the Active Older Adults Power Class at the McBurney Y in New York City and was recently featured in The New York Times.

Seeking physical improvement and sports perfection late in life is second nature to a generation and those on either side of it that have grown used to pursuing what they want and getting it. This dedication to staying young is not new, witness Dylan Thomas’s “Do not go gentle into that good night.” But its numbers are new.

There are 76 million baby boomers in the U.S. Wojtek Jan Chodzko-Zajko, who studies aging and physical activity at the University of Illinois at Urbana-Champagne, says they comprise “a cohort of people who have the expectation of remaining active.” And, he says, “Most will want to do it in a competitive sport.”

As we continue to play the games and pursue the sports we’ve always loved, and add new ones, too, performing well is harder than it used to be while getting hurt is easier. That’s why it’s important to stretch, roll out those knotted muscles, and generally pay attention to your fitness before you go out to play. It’s time well spent, and a whole lot better than sitting on the sidelines rehabbing an injury.

Boomers Stretch and Roll to Keep the Competitive Edge

FiguringOut Medicare Choices

Medicare Basics for Boomers and Everyone Else

55 Plus News, All 55 Plus, Featured Stories, News

Ryan Budgets Chisels Medicare

April 10th, 2014

Even if you’re not political, there’s plenty of reason to pay attention to what’s happening on Capitol Hill, particularly if you are interested in Medicare and federally subsidized student loans.

Under the leadership of Representative Paul Ryan (R – Wisconsin), chairman of the House Budget Committtee, the House of Representatives passed a budget that would change Medicare completely.

Under the Ryan plan, Medicare would become a “premium support” system. People 65 and older could buy health insurance and receive federal subsidies instead of the current system that most people paid into during their working lives.

Ryan described his effort as “. . . a plan to save Medicare now and for future generations.”

The Ryan budget also repeals Obamacare, cuts the deficit by $5.1 trillion in ten years and would theoretically balance the federal budget by 2024. This passed the house 219 to 205. Twelve Republicans voted against it and so did every Democrat.

The likelihood of this becoming law is almost non-existent. But it’s like a rifle shot across your backyard. Persistent efforts to change public policy sometimes gain traction over time, and that’s why it’s important for Baby Boomers and others to find out where our Congresspeople stand on issues like Medicare and student loans.

PROPOSED STUDENT LOAN CUTS

The Ryan budget also cuts federal subsidies for student loans called Pell Grants. It would freeze the maximum grant at $5,730 for ten years and would cut a mandatory funding line. Instead, Congress would decide each year whether to fund and how much to allocate.

Cuts would also be tough on students who work. It would eliminate grants for students who attend college less than half time.

This budget also would eliminate interest rate subsidies for undergraduate student loans.

All in all, this isn’t a pretty picture. But it may be a wakeup call for some of us to pay more attention to the Capitol Hill follies. If we don’t, the consequences may be personally painful.

HERE’S RYAN ON THE HOUSE FLOOR.

IRS Alert 503 Scam and More

April 8th, 2014

The IRS continues to warn about scammers trying to take advantage of our race to the April 15th income tax filing deadline. It’s not clear how many individuals or groups are working to take advantage during this time. But those that are out there are effective.

More than 20,000 people say they’ve been contacted by people posing as government officials or IRS agents. Not all were victimized, but those who were lost over $1 million collectively. Treasury Inspector General for Tax Administration J. Russell George says, “The increasing number of people receiving these unsolicited calls from individuals who fraudulently claim to represent the IRS is alarming. At all times, and particularly during the tax filing season, we want to make sure that innocent taxpayers are alert to this scam so they are not harmed by these criminals. “ 503 Area Code Many calls come from the 503 area code in California. Others use “spoofing’ techniques to mask their identity and they are good at it. So the numbers that come up on caller ID are the real phone numbers of the IRS or your state’s tax department. Scammers also use fake names and IRS badge numbers, and may be able to recite the last four digits of your Social Security number. CONTINUE → or go to Page 1 2

Listen to an IRS phone scam call here

Money News, News, Scam News

Debt Settlement Scam To Refund Millions

April 3rd, 2014

Millions in refunds will go to victims of a debt settlement scheme, but it’s not as much money as there might be. The accused scammers don’t have the money to pay the full judgment against them.

A settlement with the Federal Trade Commission requires Jason R. Begley and Wayne W. Lunsford of Rincon Debt Management to give up $3.3 million in assets. The money that’s recovered will then go to consumers who were victimized

The FTC says Begley, Lunsford and employees of their California-based operation harassed consumers by calling them repeatedly, and calling their employers, family, friends, and neighbors. They posed as process servers and lawyers. They also threatened arrest if consumers didn’t respond to calls, and demanded payment for legal costs even though no lawsuits were filed and in many cases consumers didn’t owe anything.

Jessica Rich, director of the FTC’s Bureau of Consumer Protection, said, “These debt collectors focused on Spanish-speaking consumers and other people who were strapped for cash, and preyed on them by using abusive collection tactics.”

A court order bars Begley and Lunsford from the debt collection business and imposes a $23 million judgment against them. But it was suspended because they can’t pay it.

Instead they’ll have to forfeit $3 million in frozen funds. Begley is required to surrender the rights to more than 3,500 American Eagle silver and gold coins. He will also pay a $176,115 contempt judgment for having sold his home and some other coins in violation of the court order asset freeze. Lunsford is required to pay a $134,000 contempt judgment for the proceeds he received when he sold his home in violation of the freeze.

You might also like – Avoid Debt Settlement and Credit Repair