Nationwide Debt Authority

More than 200 Scranton taxpayers might have received a letter from a collection company they didn’t deserve. The notices are for unpaid garbage fees that may have actually been paid. According to officials, the garbage bill itself for 2009 could be to blame for more than 200 collection notices sent to city taxpayers in error last week.

They think the issue might be the way the bills were folded into the envelopes. The bill comes with a perforated line above a bar code that identifies the customer, but because of a crease made by the folding of the envelope, a second line under the bar code was formed, which caused people to pull the bill off without the bar code.

Bills that didn’t have a bar code would cause a bank to not register the payment. The mailing house that Scranton hired to stuff the envelopes was fingered. If the bill was mailed to the bank, it would be the pay stub in their payment that goes straight into a lock box. The stubs are then scanned and the bar code is read. After that the bank sends the town a list of those who had come through based on the bar code readings.

Representatives from the debt collections company who sent out the letters say that they are taking every dispute from people who may have paid very seriously. Company protocol allows consumers to dispute a notice within 30 days of receiving a collections letter. In addition, representatives said that no bill will be collected while they are still sorting out the issue.

The debt collection company plans to look into each claim from people who claimed they had paid the bill and still received the notice. Those that they think have paid will be relieved from their debt and will no longer get collections notices and will not be pursued by the collection company.

Mallory Megan works for a collections agency that works with a debt collection lawyer. She also does pieces on business, finance, consumer spending and collections agencies. Get a totally unique version of this article from our article submission service

Congratulations! You are now financially capable of buying your own home. So, you fell in love at first sight at a dwelling you saw in a certain neighborhood that you know will be close to perfect in raising a family in your near future.

All the same, this is not the moment to act rashly. Before you apply for that housing loan or pay off the down payment with your hard-earned income, you need to closely look at a few issues. Acquiring a house is probably going to be the biggest purchase you are going to make in your life, after all. This is not a decision that you could effortlessly back off from when the contracts are already signed.

In planning to buy a first house, most individuals are controlled by their emotions. These people usually fail to see the glaring defects of the house that they consider is truly meant for them. So, after moving in and after experiencing first hand the outcomes of these issues, they become frustrated and angry at their decision.

So, to prevent yourself from being disillusioned and frustrated, here are the essential matters to consider prior to buying your first home.

1. Consider the neighborhood

A neighborhood may seem safe and friendly when you first saw the place. if you intend to buy a house set in a particular neighborhood, try dropping by the place at different times of the day to get an overall picture of the place and to get to know the community before making a final decision.

2. Consider the community

We know that we could safely rear our kids in a community where residents take care and look out for each other.

3. Consider the structural defects

Viewed from the street, the house beckons for you to acquire it. Nonetheless, it is still best to inspect the house for indicators of defects, plumbing issues, or the presence of animals considered as pests.

4. Consider the space

If you plan to have a family in the future, your new home must have enough space for the additional members of your growing family.

5. Consider the price

Your bank or housing loan institution will assess your income, credit history, employment track record, your available assets, etc., and through the the information will determine the amount that they will be capable of lending to you. You must get a pre-approval on your mortgage so that you know if you can afford to buy the house you’ve set your heart on.

Learn more about a premier housing loan advisory firm, providing housing loans with free mortgage broking. Get a totally unique version of this article from our article submission service

The government is stepping up as debt collection scams rise. In recent news, Buffalo New York has been home to a number of unlawful debt collection practices, and authorities have arrested at least twelve people. Even though the vast majority of debt collection companies are good for the economy and very much legitimate, there has been a rising amount of deceptive and illegal practices.

In Buffalo, debt collectors have been caught calling up debtors and saying that they are law enforcement. They have threatened to send debtors to prison, or even take child custody away from them. And it doesn’t stop there.

A civil case recently imposed a $675,000 penalty, the most ever fined for a debt collection company, for deceptive and illegal practices. This includes lying to consumers and badgering them, disclosing their debt to third parties, and cashing in on post dated checks early. These tactics were accompanied by deceptive claims from agents saying they were lawyers or other figures of authority.

In addition to refusing to reveal the address or phone number of the “company” these agents even went as far as to call individuals who did not owe any money at all and attempted to collect from them. Despite claims that it was individual workers acting fraudulently, the Federal Trade Commission went after the business owners and won a case that imposed the biggest penalty ever for debt collection agencies.

To skirt the issue of being a victim to fraudulent collection agencies, it is imperative that you know your rights. A collection company can never seize a debtor’s assets, bank accounts, or paychecks. They can not get a debtor fired from their occupation, and cannot make any kind of public disclosures concerning the debt, and they can definitely never threaten or engage in violent acts.

To be more informed, refer to the Fair Debt Collection Practices Act, which will list the rules and regulations of collections.

Mallory McGuinness is employed by a collections agency that works with a debt collection lawyer. Also, she does pieces on business, finance, consumer spending and collections agencies. Get a totally unique version of this article from our article submission service

Financial literacyis realizing that not all debt is bad. Divide your debt between good debt and bad debt. Focus your attention on paying off the worst of your debts first. If you are paying off two cards, say an American Express and VISA card, find which one of these has the lowest interest and pay off the highest interest card first. At a certain point, you will want to switch over to paying the lower interest card when you have the high interest one mostly paid off. Break out the calculator and find out which one of these is costing you the most per week. It will take some number crunching, but the money you save will be well worth it. Always be careful to read the fine print on your credit cards.

Divide what you spent last year into wants and needs. Everyone has heard this before, but many people don’t take the time to actually apply this simple concept. Sit down with your checkbook or bank statement and create two columns on a piece of paper. Actually write down and see what you are spending on want and need items. We have all heard cutting out coffee from our lives could save a great deal of money, but did you actually realize a $5 coffee per day means you are spending $1825 per year? How much is that cutting into your yearly budget? If you just can not go without your morning coffee, find another way you can save on this expense or look at what others expenses you can cut out. Can you brew at home? There may be many ways to save on your expenses. Financail literacy will help focus on the right things, the things you need.

Knowing your credit score and report are important. This one little number determines how much you will pay on many of your debts. You can always check your credit score at www.freecreditreport.com. Clear up any errors you find and identify your problem areas. It is possible you have been suffering a bad credit score from an error on your report. Always monitor your credit score to be on the lookout for identity theft. It is a rising problem that affects many Americans and can plague you with unnecessary problems.

Financail literacy means a periodic review of your insurance – car, health, life, renters or home – might save you quite a bit of money now and in the future. My husband and I had the same auto and home insurance provider for over 30 years. You would think that as long time customers demonstrating this kind of loyalty we would have easily been receiving the very best rates available – think again! In fact, we even found a number of errors in our coverage that could have cost us a great deal of money. This is why you need financial literacy.

When a family friend challenged us to review our insurance, he found we were receiving a discount for a sprinkler system we did not have. If we had a fire we could have had the claim denied because we did not have a sprinkler system. Imagine how much that could have cost us? In addition, our friend found a number of different premium discounts we were eligible for, but not receiving. In the insurance business, if you don’t ask for discount premiums, you will never get them! We saved a really good chunk of money each year by doing this simple review. Get new quotes to make sure you have the best deal available, or in the end you will pay dearly.

Sharon Lechter can help you, step by step, in Literacy in your Finances