Consumer Privacy

credit counselors look at your total financial situation, and help you work out a plan to pay off your debt. reputable credit conselors can help you create a money management plan, and a debt pay down plan, as well as provide free resources and workshop related to money management.
consolidating your debts
1. loan consolidation
a. you make only one payment, usually lower than the total amount of you monthly debt payment
b. best to use only when combined with credit counselling
c. if you own a home, consider consider you spending habits cerefully before you take out a home equity loan. you could end up with a loan and large credit card vills if you dont change your spending habits.

watch our for "credit repair" companies
1. offer for profit counselling
2. offer debt consolidation loans
3. offer debt counselling
4. some advertise they can erase a poor credit history

 garnishment is a legal produre that withold a portion of you earning for the payment of debt.
there is a limits for garnisment

1. lesser of 20% of your disposible income or 30 times tinners the federal hourly minimum wages
2. you may be able to get a "clain of exemption"

Bankruptcy is a legal process perfomed under the bankruptcy and insolvency act. becaise of you inability to pay your debts, you assign all of your assets, except those exempt by law, to a licensed trustee in bankruptcy. these process relieves you of most debts, and legal proceeding againts you by creditors should stop.

In Trouble

To help our economy, sometimes people owe to others. in my opinion, debt is everything that is lent to us and must be paid.
things that cause aperson can't pay off the debt

•loss of income

1   Unemployment

2  Illness

3  Divorce

4  Death 

•Overextension

1Poor money management

2 Emergencies

3 Materialism

4 Need for instant gratification

 

sometimes too much or too long payments can cause a problems

• You don’t know how much you owe.

•You often pay bills late.

•You get a new loan to pay old loans.

•You pay only the minimum balance due each month.

•You spend more then 20% of your net income (after paying rent or mortgage) on debt maintenance.

•You would have an immediate financial problem if you lost your job.

•You’re spending more than you earn, using your savings to pay for day-to-day expenses.

 

In order to avoid the problems in debt, there are some things that you have to know:

•Take another (close) look at your budget

1 im your expenses.

2 Establish “needs” versus “wants”.

3 Be realistic about what you can afford.

•Contact your creditors and make a deal with your creditors

1 Create a Budget and Prioritize Spending

2 Work to Catch Up on Necessities First

3 Try Setting Up a Payment Plan

4 Find Extra Money

5 Make Sure You Stay Current on Mortgage and Necessities

    Bankruptcy is a legal process performed under the Bankruptcy and Insolvency Act. Because of your inability to pay your debts, you assign all of your assets, except those exempt by law, to a licensed trustee in bankruptcy. This process relieves you of most debts, and legal proceedings against you by creditors should stop.

Who Qualifies
    A debtor who cannot meet his/her financial obligations or is an insolvent debtor.
 

How It Works

1 When you declare bankruptcy, your property is given to a trustee in bankruptcy who then sells it and distributes the money among your creditors.

2 Speak with a bankruptcy trustee. Before making a final decision, the trustee or administrator will perform an assessment in order to evaluate your financial situation and to provide you with the options available to you.

3 If you decide to declare bankruptcy, you will be required to attend a minimum of two counselling sessions with a qualified counsellor.

4 The trustee will help you complete several forms which you will have to sign. These forms include an “Assignment” and  your “Statement of Affairs”.

5 The forms are filed with the Official Receiver. If there is no opposition, the bankruptcy is discharged and, you are legally bankrupt.

 

 

Advantages

1 The discharged bankrupt is relieved of most debts, and unsecured creditors cannot take legal steps to recover their debt.

2 The bankruptcy generally does not affect your employment.

3 You can avoid being harassed by your creditors.

Disadvantages

1 Some debts are not released such as:

  • alimony

  • spouse or child support

  • debt arising out of fraud

  •any court fine

  • debt or obligations for student loans when the bankruptcy      occurs while the debtor is still a student or within ten years      after the bankrupt has ceased to be a student.

2You may have difficulty in being bonded.

 

Credit

Everyone wants a quick and instant, especially in financial matters. Especially if the money is needed in an emergency.To fulfill the consumer's desire to conduct transactions, the bank issues its services.Credit is an arrangement that allows consumers to buy goods or services now and pay for them later.When you use a credit card to charge purchases, you must usually pay a finance charge.There are some types of credit:1. Credit Cards2. Installment Loans3. Service Credit4. Revolving Credit5.Student Loans6. IOU7. Single Payment Credit
Using a credit must have advantages and advantages. The benefits of using credit are:1. The use of goods and services as you pay for them.Example: Driving a car as you pay for it
2. The opportunity to buy costly items that you might not be able to buy with cash.Example: Can you imagine paying cash for a brand new car?
3. A source of cash for emergency or unexpected expenses.Example: Medical, automotive, etc.
4. Convenience.Example: Do not have to carry large amounts of cash.

And the disadvantages of using credit is1. The reduction of future income.Example: Spending future income now and living beyond your income
Expense.Example: Using credit usually costs money.
3. Temptation.Example: Easy to spend money you do not / will not have.
4. The risk of serious consequences if you misuse credit.Example: Failure to pay debts on time, bankruptcy, repossession, damaged credit score
There are types of consumer credit:1.Sales Credit: when you buy goods and services with a credit card or a charge account.Example: Charge Accounts or Credit Cards
2. Cash Credit: when you borrow money.Example: Loans
4 Steps to building a sound financial reputation:
1. Start with a job.-Show that you can hold a job and earn money
2. Open a savings account and save regularly.-Saving show financial responsibility
3. Open a checking account and manage is carefully.-Show you have experience with handling money
4. Apply for a store or gas station credit card.-Make small purchases and pay your bill

Credit Cards

In the modern era, people are pampered by technological advances that make people work faster and more practical. One of them by shopping. Now, we do not need to bring too much money to buy goods, banks provide services to facilitate us to make transactions. This is certainly beneficial, especially if we need money in times of emergency.
 there is some tips if you are denied credit

—if you think the reasons for the denial are valid:

1Ask the creditor if you can provide additional information or arrange alternate credit terms.

2Apply to another creditor whose standards may be different.

3Do the things you need to do to improve your creditworthiness (pay bills on time, increase

4income, reduce spending, obtain a secured card, etc.) and then reapply.

—if you are not sure whether the reason for the denial is valid:

1Ask the creditor to explain why you were denied.

2Review your credit history.

3If you find your credit history contains errors, take steps to correct the errors. 

—if you believe the reason for the denial is invalid and that the creditor has discriminated against you:

1. Notify the federal enforcement agency whose name you were given by the creditor. The federal enforcement agency will investigate and report back to you.

2 If you can afford it, hire an attorney to file suit against the creditor. If the court determines the creditor did discriminate, the creditor will be required to pay you actual damages plus punitive damages 

Sets up a procedure for the quick correction of mistakes that appear on consumer credit accounts.

1You can challenge a billing statement for errors such as charges for unauthorized purchases,

2charges for items that were never delivered, failure to credit a payment, etc.

3You must notify the creditor of a disputed item within 60 days.

4Creditor must investigate and, within two billing periods, either correct the mistake or explain why the charge is not in error.

5 You cannot be billed for or forced to pay the disputed amount until the creditor has finished the investigation.

6 If it is determined that you are responsible for the bill, you must be given the usual amount of time to pay it.

7 Your credit history is protected during the dispute process.

8 Creditor must supply customers with a statement of their rights at the time the account is opened and at least twice a year thereafter.

Consumer Awareness

In the modern era, we are increasingly facilitated by technology. One of the effects is shopping. Only with smartphones, we can already buy the goods we want. But of course there is an impact that will be generated if we are not careful choosing a place to shop.
For example we buy electronic goods via the internet, we must search first information about the store. Whether the store is really guaranteed.
Like my previous experience, I bought electronic goods via the internet, but the item has a flaw. After knowing this I must immediately confirm it with the seller, by:
1. the photo of the defective part and shown to the seller
2. confirm the exchange of the goods
3. send it back to the seller

The loss of shopping on the internet is:
1. lack of guaranteed quality of goods
2. the occurrence of fraud

Here are some tips how we solve the problem if you buy not from the internet:

1.Contact the person who sold you the item or performed the service.

2.Calmly and accurately explain the problem and what action you would like taken.

3.Talk with the supervisor or manager, if necessary.

4.Allow each person you contact time to resolve the problem before contacting another person.

5.Keep a record of your efforts.

Then, what should be in the complaint letter:

1. Your name, address, and account number, if appropriate.

2.Describe your purchase (name of product, serial numbers, date and location of purchase).

3.State problem and give history.

4.Ask for a specific action.

5.Enclose copies of documents regarding your problem.

6.Allow time for action or response.

7.Include how you can be reached.

 

Advertising

in order for the product to be accepted in the community, the producer must introduce the product first. Many media that can be used to market their products, for example television, radio, newspapers, magazines, and others.Which of course there are advantages and advantages of each.To get a good ad, the manufacturer must determine its target market first, so that the purpose of advertising also becomes more clear.Purpose and Objectives in Advertising1. Getting Attention2. Prompting Immediate Action3. Replacing Lost CustomersBuilding Sales and Profits5. Building Brand Awareness
Advertising can also help consumers determine the goods sought according to their needs and abilities. Following ad benefits for consumers:1. Advertising helps the customers to know about the existence of various products and their prices. They can choose from various products to satisfy their wants. Thus, they can not be exploited by the sellers.
2. Advertising educates the people about new products and their diverse uses.
3. Advertising increases the utility of existing products for many people.
4. Advertising induces the manufacturers to improve the quality of their products through research and development. This ensures supply of better quality products to the customers.

Cars and Loans

The more sophisticated technology, the human desire can be a need that causes the need for more and more. One of them cars. People thought using a car is safer in terms of security and also more can be used for family. Therefore many facilities have been provided to facilitate the community.We can find cars from used car dealers, new car dealers, private parties, and other sources.Which of course there are advantages and disadvantages of each.For example new car dealers, of course more expensive cars. While used car dealers are cheaper.Then there are some tips for choosing a good car:1. Decide which car model and specific options you want.
 2. Find out the invoice price and the true cost to the dealers of the model and options you want.
 3. Decide how much you are willing to pay the dealer above the invoice price.
 4. Make your offer to as many dealers as possible.
 5. Compare final sales prices with other dealers and buying services.
 6. Compare financing costs from various sources.

According to US regulations, insurance rates are determined by several factors:
1. sex, male bias has higher insurance rates than women. Because according to peneliatian men more often exposed to accidents than women
2. martial status, according to research people who are married are less exposed to accidents. So insurance rates will be lower
3. age and type of cars, old cars and luxury cars will get higher insurance rates because parts will be more difficult to find and expensive.
4. rural and urban, according to the regulations in the US, urban higher insurance rates due to higher accident rates than rural