Consumerist

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Personal Finance Roundup

By FMF 3.8.11

The 9 Secrets of Highly Successful Craigslist Sellers [Wise Bread] “Follow these guidelines, and you can get much better results the next time you post something on Craigslist.”

10 Things Health Insurers Won’t Say [Smart Money] “#1: Your deductible is only the beginning.”

Adding It Up: Amazon Ship vs. Costco Shop [NY Times] “Amazon takes on Costco by offering to ship household items in bulk.”

Test drive highlights tax software limits [USA Today] “This year’s tax software review revealed the limitations of these programs. Here’s where we ran into trouble.”

Why Do Insurance Companies Use Credit Reports and Scores? [Mint Life] “The use of credit reports for underwriting insurance is perfectly legal. The real question is, why do they do it?”

— FREE MONEY FINANCE

readers

Trick Fraudulent Debt Collectors With Google Voice

By Ben Popken 3.7.11

Steve, name changed for his protection, found himself bedeviled by fraudulent debt collectors. They bought his personal information from an online payday loan site where he had applied for a loan but never actually took it out. They called him constantly, threatening to send him to jail and take him to court. In this situation, the Fair Debt Collection Practices Act didn’t matter. They were overseas scammers who didn’t care about American law, bulling people into paying debts they never incurred. The only way to stop them was by changing all his phone numbers. That’s where using Google Voice came in. [More]

justice

Disabled Janitor's $311,000 Victory Against Abusive Firm Trying To Collect $3,800 Debt

By Ben Popken 3.7.11

They just wouldn’t stop calling, and now they have to pay. The 9th U.S. Circuit Court of Appeals has upheld a ruling that a debt collection firm will have to pay a former janitor suffering from a head injury $311,000. Quite a turn of events, considering the debt they were hounding him on was only about $3,800. [More]

money

How Do You Pick An Executor For Your Estate?

By Ben Popken 3.4.11

When you’re putting a will together, choosing the executor can be a touchy subject. [More]

money

Find Your Lost Money At Unclaimed.Org

By Ben Popken 3.3.11

Like looking under the cushions of the largest couch ever, unclaimed.org is a way to search for money that you’ve forgotten about or over looked. Pick the state and that will connect you to the unclaimed property search page for that state and you can start looking to see if you have any old checking and savings account, forgotten pay checks, safe deposit boxes, or trust distributions that are due to you. A friend of mine did this recently and found two old checks. Pretty sweet unexpected bonanza in a recession. [More]

roundups

Personal Finance Roundup

By FMF 3.1.11

Dust Off Your Network [Free Money Finance] “If you think you might find yourself on the job market in the next six months, you should have the foresight to start by dusting off your network.”

5 Smart Ways to Spend Your Tax Refund [Money Watch] “Here are five timely ways to make the most of your lump sum refund.”

4 Ways Breast-Feeding Saves Money [Wise Bread] “Here are some reasons why breast-feeding can save money.”

Your Parents and Their Money: Seven Issues You Need to Address [Wallet Pop] “Here are seven ways to break the ice on some of the toughest conversations that you and your mom and dad should have.”

9 Great Investment Moves to Make Now [Kiplinger] “Even if the markets stumble, you can keep your portfolio steady with these smart investing strategies.”

— FREE MONEY FINANCE

wells fargo

HSBC Joins List Of Banks Warning It Will Probably Get Fined For Improper Foreclosure Practices

By Ben Popken 2.28.11 — Updated: 11.7.12

HSBC is the latest in a string of banks who warned investors via their SEC filing that they expect to get fined after getting a letter from regulators chastising their improper foreclosure practices. On Friday, Wells Fargo, Ally Financial (formerly GMAC) and SunTrust banks made similar announcements. [More]

swipe fees

Why Banks Threatening To Limit Debit Card Swipes To $50 Is Horrible, And Hooey

By Ben Popken 2.28.11

As I mentioned on Friday, because the banks are pissed off, pretty soon you might not be able to pay for a restaurant meal or pay for groceries on your debit card.Â TheÂ banks areÂ considering putting a $50-$100 cap on how much you can buy per transaction with a debit card.Â First, I think they’re bluffing. But, if they really followed through on it, this would seriously disrupt commerce across America. Let me paint you a picture of hypothetical supermarket checkout line. [More]

money

Banks Shutting Down Branches In Poorer Hoods While Opening In Richer

By Ben Popken 2.28.11

The New York Times combed through the data and found that when the banks close branches, they’re doing it in poorer neighborhoods. And when they open a new branch, it’s more likely to be in a well-off area. While that makes business sense, it could violate the spirit of the Community Reinvestment Act which was passed to curb “redlining,” where lower-income neighborhoods are discriminated against by the financial services industry. [More]

fair debt collection practices act

Video Of Bully Debt Collector Crumbling

By Ben Popken 2.25.11

Here are two videos, the first of debt collector threatening this man’s wife and kids over a debt he had already repaid, and the second of when he calls them back and takes them to task. The debt collector says he’s an “officer” with the “ULPD,” which is the “United Legal Processing Division” but the name sounds like it was chosen to make it sounds like law enforcement. Note how quickly they fold once he starts asking questions like “Who are you,” “who do you work for,” and “what proof do you have.” Then think about how if that’s all it takes to get them to back off and move on to the next soft target, how these bullying tactics must be working for them. [More]

money

Banks Might Limit Amount You Can Buy On Debit Card

By Ben Popken 2.25.11

Grumbling over proposed limits to debit card swipe fees, banks are hinting they’re considering putting a cap on how much you can buy with a debit card. It could even be something like $50 or $100, forcing consumers to either pay with credit card or cash. [More]

money

Even After Bankruptcy, Couple Continues To Splurge

By Ben Popken 2.25.11

This couple filed for bankruptcy but still kept going on vacations on at exotic four-star hotels, despite not paying their mortgage since September. A financial planner helps them get a grip on reality. [More]

money

43 Ways To Save Money

By Ben Popken 2.24.11

I sent out an email blast to my friends and family asking them for all their best tips on ways to save money. I got back lots of great responses which I have culled down to 43. Not all of them might apply perfectly to you, as, for instance, you might not wear overalls, but they’re good for getting in the spirit of pinching those pennies a little tighter. [More]

roundups

Personal Finance Roundup

By FMF 2.22.11

10 Tips to Avoid an Audit [Money Talks News] “Take it from someone who’s been there: An IRS audit is no walk in the park.”

Six Ways to Boost Your Investment Income [Wall Street Journal] “If you need income, here are six moves worth thinking about.”

6 Questions to Ask in a Job Interview [Main Street] “It’s crucial to take the initiative to get your questions out during the course of the conversation.”

Confusing Credit Terminology, Demystified [Mint Life Blog] “Here are seven pairs of seemingly interchangeable credit terms that are most often misinterpreted by consumers and even ‘experts.’ “

5 things worth haggling over [MSN Money] “They cost a lot of money, and most are necessities, but many people routinely pay too much for them. Don’t be one of the pushovers. Do some negotiating.”

— FREE MONEY FINANCE

credit bureaus

Mike Fights The Identity Thieves

By Ben Popken 2.18.11

Someone stole Mike’s identity and has been using it to pay for gas service and buy cellphones in his name. He’s even got a $163 default judgment against him for something he never paid. Here’s how he unraveled the threads of his identity thieves, and how he may never truly be free from their grasp. [More]

credit cards

BofA Slaps "Risky" Customers With $59 Annual Credit Card Fee

By Ben Popken 2.18.11

If Bank of America has decided that dealing with you is “risky business,” you’re gonna get smacked with a $59 annual credit card fee starting in May. What makes a customer a potential target for the new fee? [More]

money

Fed Might Rethink Capping Debit Card Swipe Fees

By Ben Popken 2.18.11

The Fed told Congress yesterday that it might rethink the plan to cap debit card swipe fees at 12 cents per swipe. One of the hopes is that merchants would be able to pass on the reduced costs to consumers in the form of lower prices. Lawmakers piled on in the hearing, saying that it would “batter banks still reeling from the 2008 financial crisis.” How banks can both be posting soaring profits and still be “battered” and reeling is an accounting trick way over my head. [More]

debt

Lawmaker Tries To Stop Modern Day Debtor's Prisons

By Ben Popken 2.17.11

We’ve brought you several stories about so-called modern day debtor’s prisons that have starting rising across America as shady debt collectors pervert the power of the courts to their own end. They’re basically deputizing the local police to do their debt collecting for them. Now a Washington lawmaker has put forward a new bill to try to put a stop to the practice. [More]

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