15 Tips to Help File Your Tax Return

MSN created a list of 15 tips to help file your tax return, the tips are listed below.

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A Spending Plan - Your Key to Making It in 2008

Many times when someone mentions a spending plan or budget people get nervous and run and hide. A spending plan is an essential component is getting out of debt and achieving many financial goals such as: start a savings account, paying for your children's college education, planning for retirement, planning for a family vacation, starting a business and more. Many economic experts state that we are in or almost in a recession. It is more important now in 2008 than ever to properly manage your finances and ensure you have an emergency fund to make it through these tough times.

A spending plan is simply a recording or documented list of all of your monthly expenses and monthly income. Once you record all of your spending for the month you can readily see what areas need to be addressed. A good guide for monitoring your monthly spending plan is as follows:

1. 35% of your monthly net income should be spent on housing (includes bills)
2. 10% of your monthly net income should go towards savings
3. 15% of your monthly net income should go towards transportation
4. 15% of your monthly net income should account for debt
5. 25% of your monthly net income should go towards other expenses

You can create your spending plan manually using pen and paper, a spreadsheet or using a software tool such as Quicken or Microsoft Money. Whatever method you use stick to it and use it every month.

Another component to making it through 2008 is to create an emergency fund or savings account. A savings account is not an investment account. A savings account is money that is available in the event an unexpected expense occurs. This will prevent you from using a credit card and will reduce stress that can be caused by having financial problems. In addition making a habit of saving money pays off in the long run because you will have money to buy things that you need and want without having to get a payday loan, cash advance or buying rent-to-own items.

A great way to save money without thinking about it is to deposit money directly into a savings account through your bank. This can be done by contacting the bank where you have direct deposit and request an additional amount of money be deposited into a bank savings account.

They are several vehicles that can help you save money such as: savings accounts, online accounts, money market accounts, money market funds and certificate of deposits (CDs). Do research and comparison shop for the bank that provides the best options for your savings goals.

Another component to making it in 2008 is to create financial goals. Your financial goals provide accountability and direction for your savings and how the money will be used. You can create short-term and long-term savings goals. A short-term goal can be to save $100 a month. A long-term goal can be to get out of debt. Whatever your goals stay focused on them and set a deadline date for each goal to help you stay on track with your spending plan.

Using the three components identified: creating a spending plan, creating financial goals, and creating a savings account will help you make it through 2008 with less stress and more financial security.

8 New Year's Commitments for 2008

Here are 8 New Year's Commitments that will improve your financial life, reduce stress, end fights regarding finances, and bring peace to your life.

1. Save Money - Create an emergency fund with enough to cover at least 3-6 months worth of bills. This will prevent you from getting into debt. For long-term goals create a savings account with a high interest rate and make plans to save for retirement.

2. Further Your Education - Take training classes or get a college degree to increase your skills set and salary. Plan to take at least one training course every year during your career to stay current with industry standards and technology advances.

3. Get Out of Debt – Get current on any late payments. Negotiate with creditors to setup payment plans and pay off debts older than 6 months. This will increase your credit score.

4. Get Your Financial House in Order – Organize financial papers and store in a centralized secure location. Backup financial documents and records saved on your personal computer. Use secure websites for processing transactions and storing personal information, i.e. bank accounts, automatic payments, etc. Organize your home office with file folders, file cabinets, etc. Make copies of all personal documents and store in a fire proof safe. Develop a will and designate or update beneficiaries for life insurance policies.

5. Trim Spending - Don’t live above your means. Buy needs more often than wants. Find ways to reduce expenses to help pay down your debts. Catch public transportation or carpool to work. Buy items or sale, use coupons, or shop at wholesales or thrift stores.

6. Limit Credit Card Usage - Use your credit card for emergencies only. Don't use your credit card to purchase gas, food or other everyday items. Keep credit card balances at 40% or below the credit limit. Pay balances off at the end of the month.

7. Develop a Flexible Spending Plan - Write a list of all of your total monthly expenses including debt and write down your total monthly income (net). If you have any money left over use that to pay down your debts. If you do not have any money left over look at the areas where you can reduce expenses.

8. Don't go into debt at Christmas - Don’t overextend yourself buying gifts at Christmas, buy gifts throughout the year to limit credit card usage and help spread costs for gifts over a period time. Even starting shopping in November will reduce costs and stress felt when shopping in December.

Copyright © 2008 H.E. Freeman Enterprises

Tax Tips for 2007

There are hundreds of tips that can save you money when filing your taxes. Here are 9 ways to save your money during the 2007 tax season.

1. Read the tax booklet that corresponds with your tax forms to make sure you are not overlooking any tax credits that you are eligible for.
2. Don't get a rapid refund or loan. These usually have high interest rates and may not be faster than if you just filed electronically.
3. If you owe don't file late, if you think you will need an extension request it now. You will save yourself headaches and money.
4. There are several free tax software available that you can use if you have access to a computer.
5. If you cannot afford to hire a tax preparer search for free tax filing services in your area, start with your local library or government tax authority.
6. Be aware of new tax tables for Federal and State for 2007.
7. If you have defaulted on your student loan and you are expecting a refund, chances are your tax refund will be taken to pay for your overdue student loans.
8. Make a donation to a charity, you have until December 31, 2007 to make donations.
9. Keep records of your tax forms for at least 3 years.
10. Enter accurate information on your tax forms to prevent being audited.

Copyright © 2007 H.E. Freeman Enterprises

10 Tips to Protect Your Identity During the Holiday Season

According to the 2006 Federal Trade Commission Identity Theft Survey Report, in 2005 8.3. million Americans were victims of some form of identity theft. According to the U.S. Federal Trade Commission, it takes 12 months, on average, for a victim of identity theft to notice the crime. In 2006, 10 million Americans were victims of identity theft. Here are 11 tips to protect your identity during the holiday season.

1. Don’t carry your SSN or other personal papers in your wallet or purse
2. Leave mail and other personal papers at home and store in a safe place
3. Check your mailbox regularly, hold mail during vacations
4. Shred personal information and mix in with other trash
5. Don’t use an ATM in a secluded area
6. Carry only the credit cards you know you will use
7. Shop online at secure websites, https or shttp
8. Create PINs that cannot easily be guessed
9. Verify all monthly statements with your receipts
10. Order your credit report at least once a year and verify all information
11. Beware of camera phones

Copyright © 2007 H.E. Freeman Enterprises

Credit Score Used by Insurers

Congress will began looking into where the insurance industry's use of credit score to determine a customer's insurance risk discriminate against certain groups of Americans.

Critics argue thta credit scoring models negatively impact minorities and low-income Americans.

A Federal Trade Commission study results indicated that credit-based scores are effective predictors of automobile insurance risk. Using credit scores is likely to lead to increased insurance payments for 64% of African Americans, 53% of Hispanics and 38% of non-Hispanic whites.

Four statees have banned insurers from using credit scoring outright: California, Maryland, Hawaii and Delaware.

6 Options If You Are Facing Foreclosure

Put away those credit cards and stop charging if you are facing foreclosure. Put yourself on a budget quickly and continue to monitor your finances until your other debts are paid off so you do not get into the same situation in the future. Whatever decision you make get it in writing from your lender. Consult a tax advisor to determine rules regarding foreclosure. Ask the lender if the foreclosure option chosen will be reported on your credit report. Here are 6 options to take if you are facing foreclosure.

1. Special Forbearance. When a lender arranges a repayment plan based on your current financial situation or and may provide a temporary reduction or suspension of your mortgage payments. You may qualify for this if you've recently experienced an involuntary reduction in income or an increase in living expenses.

2. Mortgage Modification. You may be able to refinance the debt and extend the term of your mortgage loan for the missed payments. This will help you catch up by possibly reducing the monthly payments to a more affordable level. You may qualify if you've recovered from a financial hardship and your net income is less than it was before the loan default.

3. Partial Claim. Your lender may be able to work with you to obtain an interest-free loan from HUD to bring your mortgage current, if you qualify.

4. Pre-Foreclosure Sale. This will allow you to sell your property and pay off your mortgage loan to avoid foreclosure and damage to your credit rating. If you're unable to afford the house long-term, you may sell the house yourself before the foreclosure sale date and save some of your equity.

5. Deed-in-lieu of Foreclosure. As a last resort, you may be able to voluntarily "give" your home back to the lender. This may help your chances of getting another mortgage loan in the future.

6. Short Sale. You can sell your house for less than what you currently owe on the mortgage loan. This is win-win for you and the lender. Your home does not have to go into foreclosure, you don't have to file bankruptcy and the process is much faster. The lender saves money without having to file foreclosure proceedings but does lose money by not getting the full price of the home during the sale. The buyer gets the house at a reduced price.

11 Tips to Cut Holiday Shopping Costs

Most Americans accumulate the greatest amount of debt during the December holiday season. The holidays should be filled with joy and laughter not anxiety, pressure or guilty about spending money during the holidays.

If you don't have the money to buy gifts be honest and tell the persons who are expecting gifts just that. If you have a small amount of buy to buy gifts buy what you can and don't use your credit card to buy gifts unless you have the money to pay the debt off in two or three months. Here are 11 tips to help you save money during holiday shopping.

1. Don't buy gifts on Christmas eve or the day before Christmas eve. Selection is limited and lines at the register are longer.
2. Buy Christmas or holidays gifts during store sales in October or November.
3. Spend less money on gifts this year than you did the previous year.
4. Visit local vendors, you can probably negotiate a good deal on the same items you will find in the department store.
5. Think of creative gifts to give that you can make yourself.
6. Visit the local dollar store to find gifts for children.
7. Get a part-time job until Christmas arrives if need money to buy gifts (this will prevent you from using that credit card).
8. Buy gifts throughout the year so you don't feel overwhelmed with buying all of your Christmas or holiday gifts at once.
9. If you have to buy gifts for several family members try doing a "secret Santa" or "grab bag" so only one family member has to buy a gift for one family member and set a limit on the amount spent. That way everyone gets a gift and you don't have to worry about buying several gifts.
10. Shop online, some companies waive shipping and handling fees during the holiday season.
11. Make getting out of debt one of your new year's resolutions.

Copyright © 2007 H.E. Freeman Enterprises

Instant Grati Syndrome

As a baby when you cried your mother or father came running to take care of you. As a toddler when you cried your parents hugged or talked to you until you stopped. As a teenager when you wanted something you talked really nice and sweet to your parents to get it. Throughout your life you may have received gratification instantly so as an adult it is only natural for you to believe that you should continue to receive this treatment. Unfortunately, this attitude affects every aspect of your life even your spending habits.

It can be difficult to resist the temptation of the instant gratification culture of America which I call the "instant grati factor". Advertisers make consumers believe everything can be obtained instantly by creating instant cereal, instant coffee, instant meals, instant messaging, instant credit card approval and online shopping. I have labeled this behavior as the "instant gratification syndrome" or "instant grati syndrome". To determine if you are a victim of "instant grati syndrome" ask yourself the following questions:

1. If you see an item online or in the store do you buy it immediately?
2. Do you buy an item even if you don't need the item or the item is not in your size?
3. Do you buy an item with your credit card even though you know you don't have the money to pay the bill when it arrives?
4. Do you get upset or defensive when someone questions your poor spending habits?
5. Do you rationalize your poor spending habits by saying things like "I work hard I deserve it", "Why can't I have it", "You are not my father, I can buy whatever I want", "I just had to have it", "I don't have to answer to you", "I want it now", or "I can buy it with my credit card"?
6. Is your home filled with unused items you purchased or items that still have the tags on them?
7. Do you go shopping with money already set aside to pay a bill?
8. Do you hide items you have purchased from your spouse, children or significant other?
9. Do you buy a new outfit every time you go to an event or gathering?

If you answered yes to any of these questions you are a victim of the "instant grati syndrome". Here are 6 ways to avoid the "Instant Grati Syndrome:"

1. Make being debt free your ultimate goal
2. Stop listening to the instant gratification messages
3. Live your life like an investor
4. Surround yourself with people who are investors or people who are in a better financial situation
5. Enjoy the little things in life
6. Stop being depressed

This behavior is difficult to change but it can be changed. Don't buy on impulse - think before you buy and determine if the item is a want or a need. Embrace the old values of working hard and saving your money to buy something. So the next time you buy something with a credit card ask yourself, am I a victim of the "instant grati" syndrome?

Instant Grati Factor and Instant Grati Syndrome Copyright © 2007 H.E. Freeman Enterprises

Home Buying Seminar in Upper Marlboro MD 10/13/07

Home Buying Seminar

October 13, 2007 - 10:00 am to 2:00 PM

16201 Tradezone Avenue, Suite 101 Upper Marlboro, MD 20774

Contact: Donnal Whitaker 240-354-9778

www.donnalwhitaker.com
dwhitaker@exitpowerhouse.com

Lunch Included

Free Appraisals

$50 Off Home Inspections

Raffle for $100 Home Depot Gift Card

6 Tips to Estimate Your Credit Score

Having a credit card is a great responsibility. Some of us use our credit wisely and some of us use credit unwisely. Credit is one the most important aspects of your financial future. You could have a sizeable savings account but have bad credit and may still get denied for a loan or credit card. At the other end of the spectrum, you could have no savings account and good credit and get approved for several loans or credit cards.

Here are 6 tips to help ensure you know your credit picture when applying for a loan or credit card.

1. Do you how many accounts you have the are currently late, i.e. 30, 60, 90 days or more?
2. Do you have any accounts have that were previously late, i.e. one or two years ago?
3. Do you have any open or closed accounts there were collection accounts, repossessions, judgments, or bankruptcies?
4. How many loans or credit card accounts you have opened in the past two years?
5. How many revolving and installment loans you have?
6. How many open credit card accounts you have?

If you answered question 1 you may have bad credit and need to quickly setup payment plans to get current on your late accounts. You can also open a secured line of credit or secured credit card to establish good credit. Your credit score could range anywhere from 350-500.

If you answered question 2 or 3 you may have bad credit and need to open a secured line of credit or secured credit card to establish good credit. Your credit score could range anywhere from 501-659.

If you answered questions 4, 5 or 6 you may have average or good credit depending on the amount of debt you owed and your credit limits. Your credit score could range anywhere from 620-700.

If you were not able to answer questions 1, 2 or 3 you probably have average to good credit as long as you have not made any late payments in the last 3-6 years. Your credit score could range anywhere from 650-750.

The most important thing to remember before applying for a credit card is to determine your total credit limit. Many of us including myself believed that your total credit limit was the credit limit on each credit card or line of credit. Your total credit limit is the credit limit on each credit card, i.e. if you have 3 credit cards, a Discover card with a credit limit of $5,000, a MasterCard with a credit limit of $7,000 and a Visa with a credit limit of $10,000, your total credit limit is $22,000 ($5,000 + $7,000 + $10,000).

This amount is factored in your debt-to-income ratio during the review process for approval of a loan because it is the amount of credit that you have available and could possibly use at any given time although you may never use it.

Also, determine what your total balance is for each open credit card. The total balance is your credit limit plus the current balance on your credit card, i.e. if you have a Discover card with a balance of $3,000, a MasterCard with a balance of $700, and a Visa with a balance of $5,000, your total balance on your open credit cards is $8,700.

This amount is one of the 5 factors used to determine your credit score and accounts for 30% of your credit score.

It is not a good habit to “max out” your credit cards because this may lower your credit score and can cause you to go over your credit limit and results in additional charges from your creditor between $29-$35.

If you have a MasterCard with a balance of $6,000 and a limit of $7,000 and a Visa with a balance of $9,000 and a credit limit of $10,000 you would be considered “max outed” because you have less than 10% of the credit limit available to spend.

Use credit cards sparingly and always make your payments on time. If you know you will be making a late payment contact your creditor immediately to setup a payment plan or arrangements to make a payment so your credit is not affected.

Copyright © 2007 H.E. Freeman Enterprises

Being In Debt

When we are in debt we are powerless. Creditors have the power. They have the power to:

1. Close our accounts
2. Send us threatening letters
3. Harass us on the phone
4. Search our neighborhood to find people who have our contact information
5. Garnish our checks
6. Take us to court
7. Ruin our credit
8. Increase our interest rate
9. Charge us outrageous late fees, over-the-limit fees and annual fees

When we are in debt and have bad credit we are at the mercy of the creditors and have to agree to their terms. We beg and plead and silently say "don't close my account", I still need to go shopping for things you can't afford. Don't take me to court, I know I don't have the money but I am trying to keep up with everyone else and look like I have money when I am really living paycheck to paycheck or am almost bankrupt.

We have to learn that everything has a price. What's your price? A nice pair of shoes, a Coach purse, a Hummer, a nice house in Bowie or Fairfax, designer clothes?

What are you willing to pay for those items? Will you sell your soul to buy that pair of Manolo Blahnik shoes that you just have to have.

Unfortunately in this economy many people are in debt due to loss of a job, medical expenses or health issues. I feel for these people who do not have enough money to buy basic necessities and have to use their credit cards to purchase those items.

Unmanageable debt can be prevented. Instead of buying an expensive house or car, but a modest house or car. Keep that for 3 to 5 years then you can upgrade once your financial situation improves.

Know the truth and think twice before you sign over your soul for that shiny new credit card.

Federal Minimum Wage Increased

On July 24, 2007, the Federal minimum wage increased to $5.85, a 9.3% increase over the current minimum wage. A employee paid the new minimum wage rate working full time will now earn approximately $12,618 annually.

Maxed Out Documentary

Maxed Out shows how the modern financial industry really works, explains the true definition of "preferred customer" and tells us why the poor are getting poorer and the rich getting richer. By turns hilarious and profoundly disturbing, Maxed Out paints a picture of a national nightmare which is all too real for most of us.

Maxed Out reveals the secrets of the new bank. John Ballew, a Midwestern banker whose neighborhood bank has been merged so many times he's lost count, tells us why suggestive selling is the primary qualification for working at a modern bank. Bud Hibbs, a well-known consumer advocate and the collection industry's enemy number one, explains why banks want us to be late. Liz Warren, a Harvard Professor who conducted the largest study of why Americans are going broke—at a rate higher than during the Great Depression—debunks the conventional wisdom that only "bad apples" declare bankruptcy. Liz's study proves that the bare necessities, not Prada shoes, are killing American families. A lifelong Republican, Liz's foray into the world of debt changed her politics and inspired a best-selling book: "The Two Income Trap".

Maxed Out reveals that the financial industry's best customers are the broke and the bankrupt. The most profitable niche of the industry is called "alternative" or "sub-prime"—euphemisms for a business formerly known as loan-sharking. They target those with less than perfect credit. From 2000-2002, Providian paid over $400 million to settle charges that it defrauded its customers. Soon after, a Providian director and the chairman of its compliance committee was appointed corporate crime czar by George W. Bush.

Maxed Out exposes the modern debt-style in all of its absurdities and contradictions. Nowhere are these more evident than in a journey with award-winning investigative journalist Mike Hudson, who travels to Mississippi, Pittsburgh, and New York City interviewing the victims of predatory lending scams. The most shocking discovery? The predators aren't boiler rooms or goodfellas. They are the nation's largest and most respected financial institutions! And they're not just preying on adults anymore. In 2001, FirstUSA hired two teenage high school students as walking billboards to make their cards seem "cool". FirstUSA also pioneered "partnerships" with colleges—paying them millions of dollars for access to their students' personal information, setting these kids up for ruin.

Maxed Out examines an industry that thrives on making people fail, then pursues them relentlessly to death's door. The film features a shocking interview with Bob and Chris—two idealistic entrepreneurs from Minneapolis whose "People First Recoveries" is buying bad debt all over the country in the hopes of huge profits. They're going to make "People First" a big success by being shockingly duplicitous. To get psyched up, Chris and Bob imagine themselves as "debt pirates", wrestlers and professional football players. The personal information at their disposal and the ways in which they are allowed to use it—calling people's neighbors and relatives to humiliate them into paying, for example—are nothing short of terrifying for us, fun for them.

Maxed Out delves into the heart of the information business. David Szwak, a prominent Shreveport attorney, reveals that 90 percent of credit reports—those forms that now determine whether we get a job, a home and insurance—have errors on them, yet the credit bureaus aren't doing anything to correct the situation. Why not? The more negative information, the higher the interest rate and the greater the industry's profits. If you dare challenge the industry, as did one woman whom the credit bureaus listed as "deceased", industry goons are dispatched to wear you down. Szwak also reveals a little known but troubling fact: the credit bureaus keep a special "V.I.P." list of prominent citizens whose reports are specially cleaned up. This protects the industry from legislative or judicial action and keeps those in power from knowing how flawed the credit system really is.

At times hilarious, at times deeply disturbing, Maxed Out forces us to face the consequences of our national debt addiction: the suicides, the ruined lives and, ultimately, the disappearance of the American middle class.

--Taken from http://www.maxedoutmovie.com/

10 Ways for Single Parents to Save Money

In 2006, according to the US Census Bureau, there were approximately 14 million single parents in the United States, and those parents are responsible for raising 21.6 million children. Eight three percent of single parents are mothers and 30.3 percent of all single parents receive public assistance.


Child care subsidies and public health insurance can help with closing the gap between low income and what it takes to make ends meet. Not all low-income families receive the benefits for which they are financially eligible. Families who receive multiple work supports can lose assistance before they reach self-sufficiency. Single parents often struggle with buying basic necessities and paying bills and usually live paycheck to paycheck. Single parents often do not have any savings and are in debt. Here are 10 easy ways for single parents to save money:



1. Buy a Used Car. Buy or trade in your current car for a used car with a cheaper note. This will either eliminate your car note or save you $50 to $200 a month on your car payment.

2. Use Coupons. Buy whatever items are on sale or buy items with coupons. This can save you $50 to $300 a month. There have been instances where shoppers had a total bill of $200 and ended up paying $5 using coupons and buying items on sale.

3. Buy Generic. Buy everything generic: household items, clothing, prescriptions, toiletries, dry goods, canned goods, paper products, etc. This will save you on average $5 to $50 a month.

4. Buy Washable Clothes. Buy clothes that do not require dry cleaning. This will save you on average $50 to $150 a month.

5. Image. Do you own hair and nails and buy your makeup from the drugstore such as CVS or Riteaid. This will save you on average $40 to $100 a month.

6. Gas. Buy regular gas for your car unless the owner's manual suggests otherwise. Find the cheapest gas in your neighborhood to purchase. This will save you on average $.05 to $.20 per gallon.

7. Shop at Discount Stores. Buy household items in bulk such as paper products, cleaning supplies at discount stores such as Target, Walmart, Costco, etc. This will save you on average $5 to $50 a month.

8. Reduce expenses. Reduce or cancel your cable plan, cell phone or internet service or get the cheapest plan available. This can save you $20 to $100 a month.

9. Buy groceries at superstores. Buy your groceries at superstores or wholesale stores such as Walmart, Costco, Sam's Club, etc. Buy nuts, grains, spices, legumes at wholesale or health food stores. This will save you $30 to $200 a month on processing costs charged at regular grocery stores.

10. Fun with Kids. Check your local library or newspaper to find free activities that you can do to with your kids. This can save anywhere from $5-$100 a month.


Copyright © 2007 H.E. Freeman Enterprises

My Book Expo America Experience

I just wanted to share with everyone my experience at Book Expo America. My first day there in New York NY on May 31, 2007 I attended a luncheon where I met Blair Underwood and got an autographed copy of his new book Casanegra. Later that evening I had the privilege of meeting and taking pictures with the supermodel Alek, Randall Cunningham and Walter Mosley. I also met Zane and talked with Lynnette Khalfani, author of Zero Debt and Zero Debt for College Grads. I also received advance copies of several books and releases of new books not yet on the market.

June 1, 2007 was the highlight of my trip. I caught up with my dear friend Heather Covington, NAACP Image Award Finalist for Literary Divas: The Top 100+ Most Admired African American Women in Literature. I had the pleasure of meeting Tony and Yvonne Rose owners of Amber Communications Publishing Company, Troy Johnson, Founder of AALBC, Dante Lee founder of blacknews.com, blackpr.com and blackstudents.com, Bernadette Standis, Thelma on Good Times and author of Situations 101. I also did a book signing and gave lots of good advice on how to repair your credit and get out of debt.

On June 2, 2007, I did a book signing and had the privilege of taking pictures of many legends in the African American publishing industry such as Tony Rose, Habi Madhubuti, Max Rodriguez Founder of QBR, Vickie Stringer owner of Triple Crown Publications, Relentless Aaron, Candice Dow, LL Cool J, Joel Freeman of the Freeman Institute, Zane and many more. In addition I met hundreds of other wonderful authors, journalists and publishers. I also had the privilege of doing a book signing and was able to give away all the books and promotional materials I brought with me. It was truly and great experience.

If you are an author I encourage you to attend Book Expo America. It is a great experience and one of the best networking events I have ever attended. I can't wait for next year. Hope to see you there!

http://www.bookexpoamerica.com

Support HR2269 to help cut college costs on 7/12/2007

Call Your Representative to Ask for a Yes Vote on HR 2669

Thursday morning July 12, 2007, the United States House of Representatives will vote on HR 2669, the College Cost Reduction Act of 2007.



Among other things, this legislation will cut interest rates on subsidized student loans in half over the next five years, limit the percentage of income students spend repaying loans, and expand both the eligibility and size of the Pell Grant program. These reforms make the College Cost Reduction Act of 2007 the single largest investment in higher education since the GI bill.

Help turn HR 2669 into Law: Call the House Today
www.yda.org/callthehouse

Already, thousands of Young Democrats have responded to our call to write letters to Washington asking for college affordability reforms. Now, as this vote hits the floor in the House, we need to add your voice (yup your actual voice) to our lobbying efforts.



Large private lenders and their Republican supporters will stop at nothing to kill this type of college affordability reform. Only with your help, and the help of your friends, can we ensure financial aid actually benefits students and families instead of corporations.



Please take the time to visit yda.org/callthehouse to learn more about HR 2669 and to call your member of Congress. The momentum coming out of a resounding victory on this legislation in the House will help ensure its passage in the Senate and send a message to the President that he must sign it into law.

Call the House Today: Support HR 2669

2.3 Million Consumer Financial Records Stolen

MSNBC.com

--------------------------------------------------------------------------------
2.3 million consumer financial records stolen
Former Fidelity National Information Services broker sold information
Updated: 10:29 a.m. ET July 3, 2007
JACKSONVILLE, Fla. - Fidelity National Information Services, a financial processing company, said Tuesday a worker at one of its subsidiaries stole 2.3 million consumer records containing credit card, bank account and other personal information.

The employee sold the information to an unidentified data broker who sold it to several direct marketing companies, but the data were not used in identity theft or other fraudulent financial activity, Fidelity said in a statement.

About 2.2 million records stolen from Certegy Check Services Inc. contained bank account information and 99,000 contained credit card information, Fidelity said.

“As a result of this apparent theft, the consumers affected received marketing solicitations from the companies that bought the data,” said Renz Nichols, president of St. Petersburg-based Certegy.

Fidelity said Certegy had asked a court in St. Petersburg to retrieve all the information from the employee and the marketing companies and to stop its use. It also said Certegy has contacted law enforcement officials.

Certegy will notify all affected consumers of the theft and has contacted major credit agencies, Fidelity said.

The employee, whose name was not released, was fired.


Taken from MSNBC

7 Tips For Summer Vacation

Every loves to travel during the summer. The kids are out of school, the work load is not as high, and airlines compete for your business. If you work hard all year you deserve take a vacation even if it is just a mini-vacation. Here are 7 tips to save money when planning your summer vacation.

1. Plan ahead. Plan at least one year in advance for vacations especially if you in debt, recently getting out of debt or live paycheck to paycheck. This way you can save enough money to go on vacation without going into debt to pay for it.

2. Find deals. Shop around to find the best deal. Visit websites like www.hotwire.com, www.priceline.com, www.orbitz.com, www.cheaptickets.com or www.hotels.com to find cheap rates for hotel, airfare and cruises.

3. Talk. Talk to friends and neighbors about their current or past vacations and find out how they planned their vacation, i.e. ask about any discounts or sales they know about, inexpensive restaurants, shops, etc.

4. Move fast. When you hear about vacation sales or discounts you have to move quickly to capitalize on the deal because they usually don't last long. If you saved your money all year long then you can take advantage of discounts when they become available.

5. Spending Money. When traveling it is best to buy traveler's checks, they can quickly be replaced if lost. If you credit card is stolen you may not have another credit card available to purchase any necessities. Buy everything needed before traveling. Toiletries are more expensive at other locations when traveling. Take one credit card only for emergencies.

6. Buy traveler's insurance. Buy traveler's insurance. This will reduce the costs of medical bills that could accrue if you get sick on a cruise ship or flight and prevent you from going into debt.

7. Use restraint. Use restraint while on vacation. Don't buy everything you see in the tourist stores or malls. If you know you will be tempted don't even go into the store. Buy items or souvenir gifts at flea markets or only buy items that are on sale.


Write me at hfreeman@hefreemanenterprises.com and let me know how my tips helped you during your summer vacation!


Copyright © 2007 H.E. Freeman Enterprises

Fair Isaac Moves to Protect Lenders from Fradulent Manipulation of Authorized User Credit Cards

Fair Isaac Moves to Protect Lenders from Fraudulent Manipulation of Authorized User Credit Card Accounts

Company’s Newest FICO Scoring Model Will Ignore Authorized User Accounts When Calculating Classic FICO Credit Risk Scores

MINNEAPOLIS--(BUSINESS WIRE)--Fair Isaac Corporation (NYSE:FIC) today announced that it will adjust its FICO® scoring formula to ensure the continued reliability and predictive power of FICO scores. This action is intended to protect lenders and FICO scores from abuse of authorized user credit card accounts by a new kind of credit repair service that sells consumer credit card histories to credit applicants in order to purposefully misrepresent the applicants’ own credit history to lenders and other businesses. The adjustment removes authorized user accounts from consideration by the scoring model in FICO 08, the newest version of the Classic FICO credit score which Fair Isaac expects to become available to lenders starting in September.

“We will do whatever it takes to protect the reliability and accuracy of FICO credit scores for lenders, and to ensure lenders can continue to use FICO scores with confidence when making their most important customer decisions,” said Dr. Mark Greene, CEO of Fair Isaac. “We will continue working with lenders, regulators and others in the credit reporting industry to end deceptive practices that fraudulently misrepresent consumer credit histories for profit.”

An authorized user is a person permitted by a credit account holder to use an account, typically a family member who is managing credit for the first time. Used legitimately, authorized user account information has helped both lenders and consumers by enabling lenders to use FICO scores when making credit decisions for consumers who are starting a credit history. Fair Isaac’s research indicates that the next version of its FICO scoring formula will deliver increased predictive power without considering authorized user accounts.

Fair Isaac will work closely with lenders to help them implement and benefit from the FICO 08 score as it becomes available. As the company announced previously, lenders will be able to use the new version of FICO scores with minimal changes to their own operating systems. To make lender adoption easier and faster, the new scoring model will retain the same scoring range, score reason codes, minimum scoring criteria, inquiry treatment, and related model parameters as previous versions of the FICO formula.

About Fair Isaac
Fair Isaac Corporation (NYSE:FIC) combines trusted advice, world-class analytics and innovative applications to help businesses make smarter decisions. Fair Isaac’s solutions and technologies for Enterprise Decision Management turn strategy into action and elevate business performance by giving organizations the power to automate more decisions, improve the quality of their decisions, and connect decisions across their business. Clients in 80 countries work with Fair Isaac to increase customer loyalty and profitability, cut fraud losses, manage credit risk, meet regulatory and competitive demands, and rapidly build market share. Fair Isaac also helps millions of individuals manage their credit health through the fair Isaac website.

Fair Isaac Statement Concerning Forward-Looking Information
Except for historical information contained herein, the statements contained in this press release that relate to Fair Isaac, including statements regarding its FICO® score, and the relationship described herein, and the benefits to be derived from the offering, are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including any unforeseen technical difficulties related to the implementation, use and functionality of the offering, the risks that customers will not perceive material benefits from the offering, failure of the product to deliver the expected results, the possibility of errors or defects in the offering, regulatory changes applicable to the use of consumer credit and other data, and other risks described from time to time in Fair Isaac’s SEC reports, including its Annual Report for the year ended September 30, 2006, and quarterly report on Form 10-Q for the period ended March 31, 2007. Forward-looking statements should be considered with caution. If any of these risks or uncertainties materializes or any of these assumptions proves incorrect, Fair Isaac’s results could differ materially from Fair Isaac’s expectations in these statements. Fair Isaac disclaims any intent or obligation to update these forward-looking statements.

Fair Isaac and FICO are trademarks or registered trademarks of Fair Isaac Corporation, in the United States and/or in other countries. Other product and company names herein may be trademarks or registered trademarks of their respective owners.

Fair Isaac CorporationInvestors/Analysts:John D. Emerick, Jr., 800-213-5542
investor@fairiasac.com