Just Another Jamie's Book

Settlementone, Fajilan Associates and ACRAnet Inc. are three credit report resellers that had unwittingly been selling credit reports to hackers. The hackers were able to access an estimated 1,800 credit reports.

These reports contain personal information that the hackers can use to steal the identities of their victims and make fraudulent purchases or withdrawals at a victim’s expense. The data lost in this case is particularly dangerous since it is a direct reflection of an individual’s buying and borrowing habits that will eventually damage his/her credit score.

This case reflects the growing inability of financial institutions in the US – especially banks – to effectively deal with credit and debit-based fraud. This runs counter to the global trend, with Europe and Asia taking the lead in implementing stricter security procedures like chip-based credit cards.

Banks and merchants tend to be turned off by the costs required to update security measures, resulting in the United States accounting for around 47% of fraud losses around the world.

This is why it is ultimately up to the individual consumer to protect him or herself. Monitoring credit report thrice a year and analyzing bank and credit statements will help in identifying, preventing and minimizing the financial damage caused by fraud.

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Jessica LaShawn – teacher, writer, on-air personality and self-proclaimed “professional flirt” – recalls one dating experience that changed her life for good, especially when it came to finances and relationships.

She wrote an article on her blog that she met the perfect “resume man” as she put him. He was tall, handsome, educated, articulated, popular, well-groomed, and he apparently viewed her as his dream girl as well.

That was until someone commented on LaShawn’s expensive shoes.

The man immediately went around asking her a barrage of finance-related questions, including investment plans and savings programs. LaShawn had no clue about what he was talking about, and further discussions revealed to the man that she was in serious debt problems.

So serious that he ended the date by saying “You’re just my kind of girl but I am not in any position to raise you. Your parents should have done that and I am so sorry but I just cannot date you. You’re too irresponsible.”

He even checked her credit score to be doubly sure about his decision to walk out, especially since he was looking at a more permanent relationship.

This reflects the long-established fact that money (or in this case, credit) does have a major role to play in long-term, committed relationships.

In an unrelated news, effective July 21, 2011, all banks and lending institutions must issue a free credit score to individuals who are denied credit when applying for a loan. Sounds like a fair ruling to me!

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Social Security and Medicare may be stirring up trouble for prospective retirees, but it looks like parasitic children will do more damage to the retirement funds of their parents.

This is at least according to two studies.

A TD Ameritrade survey reveals that three out of four “boomer” respondents feel obligated to financially help their grown children if these children ask them to. 41% of “Gen Y” respondents say their parents help them pay for food, rent and even cell phone bills.

A separate 2011 Investor Index shows 57% of baby boomer respondents are willing to support their children even if they have to pull money out of their retirement savings. More than 50% of their respondents say that their children had returned home for at least three months, and 42% of these particular respondents say that their finances had been negatively affected by the return of their children.

Lule Demmissie, managing director of TD Ameritrade, sums up the implications of the results:

“While boomers may have the best intentions, they could be setting the wrong precedent by financially supporting their adult children, particularly when it comes to discretionary items.”

“No parent wants to see their child struggle financially, but assistance should come within reason – and with firm expectations. While food and housing might be reasonable, a data plan for your son’s smartphone shouldn’t come between you and your retirement.”

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When an emergency happens, and you need cash quick, you can take comfort in knowing that there exist a short-term loan that is intended to cover unexpected expenses payable at the next paycheck. Even if you had a bad credit score.

Among the plethora of payday loan providers, PayDayMax has one of the most competitive online payday loan rates available on the internet – ideal for those who need payday loan immediately.

PayDayMax deals with short term loans which are usually returned within the same month, when the borrower receives the next salary. It is designed for people have to pay for something urgently and they can’t wait until the next payday so they need an instant loan. This is why PayDayMax comes in very handy exactly when it’s needed the most.

These kinds of short term loans are normally used for emergency payments, when something unexpected happens within a certain month. Amount-wise, the loans can range between $100 and $1500 payable at the rate of $9.31* per $100 (*this special discount is applicable for new signup only)

How to Apply?

Applying for a loan at PayDayMax.com is very easy and can be done by filling in an online form or by calling their hotline phone number. If you have a good credit history, with regular monthly checks coming in and with no extraordinary debt problems, then the loan will be approved almost instantly without you ever having to fax a thing!

And for those with less than perfect credit, no worry! as in most cases, they will approve your loan without the hassle & inconvenience of credit check.

In this case, the money will reach the beneficiary within 24 hours, or one banking day, being one of the fastest loan opportunities on the market. In fact, returning customers can skip the bank and get your payday loan at a MoneyGram location like Wal-Mart.

How to Repay?

Repaying the loan is a very simple procedure also and it’s simply a matter of filling in a date on the application form. When that date comes, the owned amount will simply be subtracted form the beneficiary’s account via an electronic transfer.

However, in the situation that something unforeseen happens and the borrower cannot repay the amount in due time, there is the option of extending the loan period by contacting PayDayMax with at least one day prior to the deadline. The first three extensions are accepted with only some nominal finance fees, while the subsequent ones require a $50 advance for loans under $600 and a $100 advance for loans over the mentioned amount.

Holiday Payday Loans at PayDayMax

Being a customer oriented company, PayDayMax is one of the first that allows for holiday payday loans, which are special offers for occasions like New Years, Valentines Day, Independence Day, Christmas and other similar dates.

These kind of loans have special discounts and incentives in order to benefit the borrower and to make it easier for people to enjoy such occasions without having to worry about their financial situation. With every such loan taken, PayDayMax also gives the customers information about the upcoming holiday like events suggestions, tips for visiting special places and gifts ideas just so to make the experience more worth while.

So the next time you’re in need of some emergency cash, consider PayDayMax. If you’re a qualified borrower, your desired loan will be transfered to your bank account usually within a banking day. The procedure is so painless that you won’t even realize you’re getting a payday loan in the first place. Thanks to the convenience of online application.

If you’re a first time borrower, don’t forget to grab the special 50% discount off initial finance fee. You can read more what countless satisfied PayDayMax.com customers have to say at http://paydaxmax.com

Disclaimer

It is the writer’s hope that the above PayDayMax review and the combination of all the information here will help you make an informed decision.

However, it’s worth mentioning that payday loan isn’t designed for everyone. While such loans are meant to provide temporary financial relief in times of emergency, the rule is simple. Don’t borrow more than you need.

Important Notice: PayDayMax does not provide payday loan services to those who live in the following states: Colorado, Georgia, Maryland, Montana, Nevada, New Jersey, Ohio, Sacramento CA, Virginia, and West Virginia

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The earthquake scare brought about by Japan’s mega-quake and the more recent spate of tornadoes has put one question on a lot of people’s minds: what happens to my mortgage if my house is destroyed?

Laura Vinton, counseling manager of Hope Enterprise Corp., says that a house demolished by a natural cause is no guarantee that the owner is freed from mortgage.

“Any consideration is determined case-by-case, and it’s a two-way process,” she adds.

So what should a homeowner do if this happens to him or her?

Freelance real estate reporter Marcie Geffner sought to answer this question, and points out three key facets of disaster and mortgage:

• The individual situation of a borrower could mean a lengthier period of forbearance or a more flexible payment plan, but this must be negotiated with the lender and loan provider beforehand.
• The Federal Housing Administration typically orders a 90-day foreclosure moratorium, giving homeowners time to work with the lender and have the damage to their property assessed.
• The borrower can negotiate with his or her lender for mortgage relief, the terms of which vary from lender to lender.

Geffner adds “Homeowners who have received a loan modification face a tricky situation since a late payment can void the previous accommodation. Most will face a choice of either the modification terms or disaster relief, not both.”

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