Friday, January 24, 2014

Payday Loans

A payday loan is a small, short-term unsecured loan, marketed as a quick, easy way to tide borrowers over until the next payday.

Here’s how they work: A borrower writes a personal check payable to the lender for the amount the person wants to borrow, plus the fee they must pay for borrowing. The company gives the borrower the amount of the check less the fee, and agrees to hold the check until the loan is due, usually the borrower’s next payday. Or, with the borrower’s permission, the company deposits the amount borrowed — less the fee — into the borrower’s checking account electronically. The loan amount is due to be debited the next payday. The fees on these loans can be a percentage of the face value of the check — or they can be based on increments of money borrowed: say, a fee for every $50 or $100 borrowed. The borrower is charged new fees each time the same loan is extended or “rolled over.”

The FTC, the United States Consumer Protection Agency, says that regardless of their name, these small, short-term, high-rate loans by check cashers, finance companies and others all come at a very high price. It has been found that Loan terms that require full payment in as little time as a fortnight alongwith an average annual interest of upto 400%, are responsible for driving a huge percentage of borrowers into a huge debt.


source: http://www.consumer.ftc.gov/media/video-0078-payday-lending

For helping you get a better understanding of Bankruptcy, have setup a Bankruptcy Information Center at our website with information written and curated by our San Antonio Bankruptcy Attorney

Tuesday, January 14, 2014

Phishing Scams

A recent form of cyber crime is Phishing. This is the act of sending an e-mail to a user falsely claiming to be a legitimate enterprise in an attempt to scam the user into disclosing private information. These e-mails often ask for information such as credit card numbers, bank account information, social insurance numbers, and passwords that can be used for identity theft.

video source: http://www.consumerfed.org/issues/consumer-protection-and-privacy/fraud/665/#phishing
For helping you get a better understanding of Bankruptcy, have setup a Bankruptcy Information Center at our website with information written and curated by our San Antonio Bankruptcy Attorney

Monday, January 6, 2014

Beware of Free Trials

Free Trial Offers tells how to check out a free trial before you sign up, and what to do if you find yourself enrolled in a free trial offer without having given your permission: in short, getting charged for merchandise you don't want and didn't order.

Some companies use free trials to sign you up for more products — sometimes lots of products — which can cost you lots of money as they bill you every month until you cancel.



video source: http://www.consumer.ftc.gov/articles/0101-free-trial-offers

For helping you get a better understanding of Bankruptcy, have setup a Bankruptcy Information Center at our website with information written and curated by our San Antonio Bankruptcy Attorney

Friday, January 3, 2014

Identify Theft


Identity theft and identity fraud are terms used to refer to all types of crime in which someone wrongfully obtains and uses another person's personal data in some way that involves fraud or deception, typically for economic gain.

Identity theft affects millions of people each year. It's an unfortunate fact of modern life. But there are certain steps you can take to help keep your personal information from falling into the wrong hands.



video source: http://www.consumer.ftc.gov/media/video-0023-what-identity-theft

For helping you get a better understanding of Bankruptcy, have setup a Bankruptcy Information Center at our website with information written and curated by our San Antonio Bankruptcy Attorney