More Confusion Over the 1099-C

Personal Finance

More Confusion Over the 1099-C

More Confusion Over the 1099-C

The last few weeks we’ve been flooded with questions about 1099-C and 1099-A forms sent to consumers who have defaulted on credit cards, auto loans, or mortgages. I’ve found it frustratingly difficult to get even basic answers to some of these questions. I’ve queried numerous tax professionals, and sometimes received conflicting advice. The Internal Revenue… Read More

Google Wallet’s Prepaid Cards Security Issue Fixed

Identity Theft

Google Wallet’s Prepaid Cards Security Issue Fixed

Google Wallet’s Prepaid Cards Security Issue Fixed

After the company was forced to suspend prepaid card use through its mobile purchasing service, Google recently announced that it had fixed a major bug that would have allowed hackers to rip off consumers. Earlier this week, hacks were discovered by two separate entities that would have allowed cybercriminals to repurpose consumers’ Google Wallet accounts,… Read More

Switching Banks? Watch Out for Fees

Personal Finance

Switching Banks? Watch Out for Fees

Switching Banks? Watch Out for Fees

Are you so fed up with the fees charged by your large bank that you’re considering a switch to a smaller, cheaper bank or credit union? If so, now you have one more expense to worry about: a fee to close your account. Many large banks now charge consumers fees of between $20 and $30… Read More

CFPB: Tech is Key to Better Consumer Protection

Personal Finance

CFPB: Tech is Key to Better Consumer Protection

CFPB: Tech is Key to Better Consumer Protection

The federal agency set up specifically to add protections for consumers and their finances in dealing with products from banks and other lenders says that it will utilize the latest technology in rolling out safeguards and communicating with borrowers and financial institutions alike. Technology will play a key role in the continuing development of the… Read More

The Future of Your Mortgage Statement?

Mortgages

The Future of Your Mortgage Statement?

The Future of Your Mortgage Statement?

Government regulators introduced new mortgage disclosure forms this week that could help homeowners better understand how much they owe, and monitor their mortgage company for mistakes. The proposed new form, introduced by the Consumer Financial Protection Bureau, is intended to help homeowners avoid the mistakes and fraud that led to the mortgage meltdown. “Given the… Read More

5 Credit Card Catastrophes (and How to Avoid Them)

Credit Cards

5 Credit Card Catastrophes (and How to Avoid Them)

5 Credit Card Catastrophes (and How to Avoid Them)

When it comes to credit cards, there are two kinds of problems: little ones and big ones. I’m talking about the big stuff here. Getting a couple of bucks charged to your credit card in the form of a foreign transaction fee because you ordered shoes from a website that’s based overseas is annoying, for… Read More

Name, SSN Is All a Thief Needs for Tax Fraud

Identity Theft

Name, SSN Is All a Thief Needs for Tax Fraud

Name, SSN Is All a Thief Needs for Tax Fraud

Meeting the April 17 income tax deadline might be the least of your worries. In recent years, the IRS has seen a significant increase in the number of fraud cases involving identity theft, according to Steven Miller, IRS deputy commissioner for services and enforcement. Tax fraud through identity theft can prevent an innocent taxpayer from… Read More

Love and Money: What Statistics Say

Personal Finance

Love and Money: What Statistics Say

Love and Money: What Statistics Say

Is it true that 50% of divorces are due to disagreements over money? In the many years I’ve been writing about credit, I’ve never been able to pin down a specific study to back that “fact” up. But there are plenty of surveys and studies that shed light on how money can affect relationships, and… Read More

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