Archive for September, 2010

How to Spot a Bogus Credit Counseling Plan

A respectable credit advice agency will let you setup a repayment program using your creditors and teach you better money management methods to avoid debt in the foreseeable future. But some credit counseling services take advantage of people who are usually financially vulnerable, so proceed cautiously.

The Federal Trade Commission Act discourages “unfair or deceptive acts or practices” of credit restoration, debt consolidation or counseling agencies. Some states also have laws that make it illegal for credit service organizations to claim to be able to improve credit ratings.

And in some states, credit guidance services must register with the state Attorney General’s office and have a surety bond to work.

Voluntary Certification and Accreditation

The National Foundation for Credit Counseling (NFCC) is an independent not-for-profit organization that creates voluntary benchmarks for credit counseling agencies. The NFCC Council on Accreditation (COA) accredits over 4,000 credit counseling packages that meet NFCC standards.

For being accredited by the NFCC, a consumer credit counseling agency has to be recognized as non-profit by the IRS and also have the proper local business licenses. To earn NFCC certification, a credit advice program should also use adequate checks and balances to safeguard consumers, including:

• Auditing operating and trust accounts every year
• Offering consumer education programs
• Providing detailed reviews of consumers’ income and debts, and an assessment of how each consumer got into financial trouble, with a written action plan for reducing debt
• Disbursing funds to creditors at least twice a month, or sooner in emergencies
• Giving clients a financial statement at least once every three months

The Association of Independent Consumer Credit Counseling Agencies (AICCCA) is yet another national organization with similar standards.

You’ll want to think one more time before joining a credit counseling agency that doesn’t fit in with either of these voluntary organizations.

Warning Signs

What should tip you off that you might be handling a less-than-reputable program?

Be cautious about illegal fees, sometimes disguised as contributions. When the setup fees or monthly charges have become high, they can eliminate any gain you may have made against reduced finance charges, and you’d bemore well off negotiating directly along with your creditors.

Another warning sign could be outrageous statements to instantly repair your credit ratings. Credit rebuilding is a gradual process, and it’s illegal to try to change your credit standing by constructing a fresh, false identity.

It’s also wise to watch out for advance fee loan scams, where you’re asked to fork over money to acquire a promised loan. Under the FTC’s Telemarketing Sales Rule, no-one can legitimately ask you to pay until you actually obtain a loan or credit. So be skeptical of any debt consolidation loan, get every detail on paper, and don’t give your credit card, banking account or Social Security information on the phone or on the internet.

Educate Yourself

The obvious way to protect yourself against unscrupulous credit counselors is to:

• Check out the program’s reputation with your state Attorney General and local Better Business Bureau, and find out how long they’ve been in business
• Confirm with your creditors ahead of time that they will work with that particular company
• Understand exactly what services are offered, and whether those services address all of your debts
• Get the specifics of any monthly fees, and find out whether you’ll still be obligated to pay those fees whether or not you continue to participate in the program
• Get all promises in writing
• Read your written agreement carefully

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foreclosures juegos homes for sale – Watercraft Insurance – How to Get the Best Boat Insurance Quote and Sail Peacefully

Mortgage Refinance Although there is no official standard such as ISO within the yacht insurance industry to guarantee complete consistency across carriers, most policies have developed many common denominators.

Hull, protection and indemnity, medical payments, personal effects, uninsured boater’s liability, towing and emergency assistance and even pollution coverage have all become accepted as essential elements within a policy. 

However, as we know the devil hides in the detail and the subtle nuances between seemingly similar policies can lead to very costly uncovered loss, in turn resulting in an expensive claim on your own professional indemnity cover.

juegos   Environmental damage, Ice and freezing, mechanical break down, and defense costs are some of the key areas that if cover is not adequate can lurk beneath the surface of a policy waiting to cause such exposure if attention to detail is overlooked.

We live in an age of increase environmental awareness and as such the laws designed to protect our beautiful planet are now rigorously purposeful in their intent to hold boat owners accountable for their actions. If you are the owner of luxury sports/fishing yacht in Queensland for example, a minor accident running aground into one of the local reefs could leave a bill that would leave Richard Branson feeling slightly worried.

homes for sale How do you get a good boat insurance quote from an insurance company? Or should the question be, how do you pick the right insurance company? First of all, the insurance company should be one who has been in the insurance business even years before you started sailing. An insurance company should have an untarnished reputation of being able to comply with their insurance obligations should the boat insurer make his or her claim. In short, you need to check on the credibility of the insurance company.

Before you decide to get insurance for your boat, try any and all other means possible to make a good comparison about the different insurance quotes that are being offered. In fact, you can easily ask for reasonable quotes on the web. Yes, insurance companies are now selling policies online and they usually offer to get you a good quote without the obligation of getting yourself signed up for a policy if you don’t really want to.

Obviously it is important to know all of the coverage differences from policy to policy but each of the above occur in real life scenarios and the difference in one policy over another can have dramatic effect upon the amount of loss covered by any particular carrier.

With the yachting sector having seen many top insurers merge, sell on their portfolios or even leave the business altogether across the last five years, now more than ever an examination of policy and what lies beneath the surface can prove to be a invaluable endeavor when placing business.

Anything less than a 100% understanding of all areas of the marine insurance policy and how they fair against the vessels risk adversity, could lead to a somewhat sinking feeling all round You can be published without charge. You can to republish this article in your website or blog. Please provide links Active.