Money Saving Consumer Tip
One of the best ways for consumers to save money, and reduce headaches, is to place their telephone numbers on the National Do Not Call Registry. With the increased amount of high tech, sophisticated, and deceptive scams going on it can be the best preventative step to falling victim to one of them. Anyone can call or register online at the www.donotcall.gov site or by phone – from the phone you wish to register – a consumer can call 1-888-382-1222. After the number has been on the National Do Not Call registry for more than 31 days if a telemarketer calls you file a complaint with the Federal Trade Commission (FTC) at the same site or phone number. If you ever receive a call from anyone claiming to be from the government who is calling to arrange for you to collect supposed sweepstakes winnings immediately call and file a complaint at www.ftc.gov that includes the name of the organization, date, and time they called. Registering can keep you out of the loop of people who would separate you from your monies.
First Stage of New Credit Card Law Went Into Effect Thursday August 19th
This part of the law only gives credit card holders additional information. Now credit card issuers have to give card holders 45 days notice before raising interest rates or fees or any other significant changes. This will allow consumers to pay off their balances before the increases come into effect and avoid fees for exceeding credit limits. The part of the new law that will restrict increases for existing credit card debt, how they apply payments, and market to college students goes into effect in February 2010. Until then paying attention to the billing notices will be important.
Identity Theft – Largest Credit Card Data Breach in U.S. History
On August 17th ABCNews reported that Albert Gonzalez of Florida along with two Russian hackers were charged with theft of information from 130 million American s debit and credit card information by hacking into Heartland Payment Systems used by many retailers across the United States. The team also reportedly hacked 7-11 and Hannaford Brothers Company. Gonzalez is being taken to trial next month for charges of credit card numbers theft of over 5,100 Dave and Buster’s Restaurant clients in New York and another trial in Boston for nearly 45 million credit card numbers stolen from TJX Corporation computers in 2003. These hackers have been using cutting edge hacking schemes to get the data from corporate computers and transmissions. Card numbers used at T.J. Maxx, Marshalls, T.K. Maxx in Europe, BJ’s Wholesale Club, OfficeMax, Boston Market, Barnes & Noble, Sports Authority, Forever 21 and DSW were stolen. Gonzalez allegedly furnished the “sniffer” software to intercept the data for the Russian hackers. No figures have been released on the number fraudulent purchases made with the stolen data. Per Robert Siciliano, an identity theft expert in Boston, it is not in the retailers’ best interest to disclose purchases made because then the sales have to be nullified. This is a prime reason for checking your credit card statements regularly and not depending on being notified by the companies that their computers or processing companies have been hacked.
Coastal Credit Solutions, Inc. operates a financial market place that matches Consumers and Businesses with debt eliminating and/or alternative financing service providers. If you have over $5,000 personal or business credit card debt or are seeking small business financing, please call us 866-205-8370 for a FREE no obligation consultation.
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