Financial Crisis?

piggybank-crisis.jpg

What is this financial and credit crisis everybody is talking about anyway?

Here’s a definition from theFreeDictionary.com: a long-term economic state characterized by unemployment and low prices and low levels of trade and investment.

This basically means that a lot of good people are losing their houses, cars and jobs. And to make it even worse, the majority of businesses are not hiring people.

 

 

Read More

Spring Break!

springbreak.jpg

It’s that time of the year again… Spring break, baby!

How about Florida this year? Or Mexico?

Great stuff! But how are you going to pay for all this?

Maybe you’ve got the airfare. But what about a place to sleep? What about breakfast, lunch and dinner? Wait, skip the breakfast part, you’ll probably sleep right through that!

 

 

Read More

Identity Theft

idcards.jpgAnd yet another article on identity theft… Boring!

But is it? Did you know young people are big targets?

Here’s a quick head’s up.

What is ID Theft?

A scammer uses your name, personal information, and credit to steal products and services and leaves you with the bill.

 

Read More

Avoiding "Loan" Schemes and Other "Services" Risky to Your Financial Well-being

sign_contract.jpg

There are many schemes and scams that aim to make a buck on people who may be feeling pressure financially and who are unwary. We have seen dozens of ads and email solicitations for "opportunities" that could wreck an already stressed budget. So this report details 1) some schemes and scams to avoid always and 2) some services that may be helpful in certain circumstances but that you must choose wisely how to use.

Read More

Pyramid Schemes; A Scam To Watch Out For

money-pyramid.jpgGet this scenario: you, a college student who has discovered the luxury of 10 Ramen Noodle cups for only a buck, are approached by a young man dressed-for-success at the local JCrew.

He begins by asking you questions like where you go to school, what you’re studying and what do you want to do with your life. He then tells you a little bit about himself—he says he’s an entrepreneur who’s been quite successful and would like you to come in for a meeting to see if you could become ‘one of them.’

Read More

Online Scams Target You

trap.jpgOnline scammers like people our age for two reasons: They know we love the Web, and they know we trust people.

The result? More young people are being ripped off online right now than ever. Watch out for these scams:

FireFox Enhancement! FireFox is a great open-source browser recommended by a lot of consumer types—free and fast. They’ve just released a wicked new version, too—for free. But scammers in Russia and China are trying to sell the new version, and as a bonus, when you pay for what should be free, the scammers download a virus on your computer. Thanks for nothing! So, what do you do? Download FireFox from only one site: www.mozilla.com.

 

 

Read More

So, What Would You Do With This Phone Call?

phone_call.jpgYou answer the phone, and there’s this nice lady on the phone.

She says she works for Greenpeace and asks if you would like to make a donation to save the whales that are being killed in the Norwegian Sea.

Of course! You’ll help them fight these animal abusers!

You decide to donate $100 to the good cause—your savings for four months.

But hold it: how do you know if your money ends up at the right address?

 

 

 

Read More

Credit Card Phishing

Will You Be Lucky Enough to Get a Call Like This?

 

credit_card_phishing.jpgYou’re sitting around when you get a call from someone who says they are with your credit card company’s fraud department. There’s “suspicious” activity on your account.

Because you are very smart, you know scam artists make calls like this and start questioning the caller.

“Well, I understand your suspicion,” she says, “but my badge number is 148236. You’re welcome to call the number on your credit card if you don’t want to talk with me, but please talk with someone in the fraud department immediately. We think someone is charging to your account.”

The lady sounds pretty legit, but you’re still thinking about hanging up when she continues…

 

 

Read More

CREDIT 101

istock_000002981814smallCREDITWORTHINESS

 Your "creditworthiness" is the single most important factor we look at when deciding whether to grant you a loan on the terms you requested. Your creditworthiness determines how much you can borrow, for how long you can borrow, and your interest rate. Your creditworthiness is derived from many factors such as your income, your credit history, your current debt load, and your repayment history. This information usually comes from your Credit Report.

CREDIT REPORTS AND CREDIT SCORES

A Credit Report is a record of your credit payment history. We use the Credit Report as a tool to help us decide whether to grant you credit on the terms you requested. It is the best tool we have to determine your creditworthiness because it is comprehensive and objective.

Read More

Information Specifically for Seniors

onlinesafety.jpgSeniors are a favorite target of scam artists and others who want to make a quick buck. For example, seniors are at risk of losing money in fraudulent investment schemes and are also at risk of losing their homes when they are used as security, in some instances unknowingly. These 2 articles from the Federal Trade Commission (FTC) describe some of the pitfalls.

The U.S. Securities and Exchange Commission (SEC) has assembled some resources to help seniors avoid fraudulent investments.

Read More

Make a Complaint

survey.jpgIn addition to reporting fraud or identity theft to your state attorney general’s office you can file a complaint with the appropriate federal agency.

 

Facebook & MySpace…Wicked!

Social Networking

Social networking sites are great places to keep in contact with friends, develop relationships and meet new people in interesting places.

Heading to a new city? How easy is it to find a new “friend” in that city on Facebook? This summer, a young person that works with "IsThatSo?" stayed with “Facebook Friends” in four separate countries. Not bad, and good on the budget, too.

 

But there’s a huge downside to these sites, also. Posting comments or pictures without thinking can get you in big trouble. Just posting something as innocent as your phone number or e-mail address can get you in trouble.

How?

First, adults and schools and businesses head to these sites as much as we do. They’re looking for unguarded comments. “Hey, I wasn’t really sick yesterday; I just faked that excuse,” can get you in trouble at school or fired at work.

Read More

Check, Credit Card or Debit Card? Choosing a Payment Method for Security and Convenience

September 2007

How do you pay for everyday purchases or bills? Cash? Check? Credit Card? Debit Card? If you are like most people, you use a combination of these methods—and more. The advent and growth of electronic banking has encouraged many people to move more and more from paper (cash, checks) to plastic (credit cards, debit cards). All these payment methods have roles to play in personal financial management today.

All have their advantages and drawbacks. All can be used securely with proper precautions. All have consumer protections should fraud or theft occur, but those protections may vary depending on what the issuing institution offers you. This report offers a brief overview of the facts you need to make wise choices for your circumstances.

Read More

What Is a “Credit Score” And How Can It Affect Your Credit?

April 2007

alt

Credit Scoring is a system of statistically analyzing credit reports that provides a simple three-digit score comparing an individual’s past and current credit performance to that of similar consumers. Your credit score provides lenders, or other potential creditors such as insurance companies or landlords, a quick, fairly objective way to assess your creditworthiness—or likely ability to pay back a loan or mortgage or pay the rent. Knowing your credit score (along with regularly checking your credit report) is a smart thing to do.

What is a credit score?

A “credit score” is often called a “FICO score,” after the Fair Isaac Company, which developed the most widely used analytical system and software. It may also be called a “credit rating.” Although individual credit bureaus or credit reporting agencies (CRAs) adapt, add to or modify Fair Isaac models to suit their needs and provide their own credit score, most use the FICO score or system as a foundation.

Read More

Subcategories

  • Gen Y with Will
    Article Count:
    108
  • Drew's News
    Article Count:
    139
  • Remar's Report
    Article Count:
    108
    • Remar Finance


      Want to improve your credit score? Want to cut your tax bills?  Like to tear up hundred dollar bills? (You're probably doing that). How about this:  want to wake up retired and without money?  Your Financial Well-being rules your life.  We put you in charge of the rules.

       

      Article Count:
      4
    • Remar Privacy

      Every worry about identity theft?  Worry about young people and the dangers of the web? Mind if I read your private emails?  Or browse through your medical records? This section takes you into the scary world of privacy and identity theft.  StraightTalk gives you just that (straightTalk) when it comes to identity theft and privacy issues.   

      Article Count:
      3
  • FoolProof Team
    Article Count:
    9

FoolProof Fast Facts

Follow Corning CU:

Contact