Financial Planning, Retirement Plan, 401k, Investment Blog

Financial Planning, Retirement Plan, 401k, Investment Blog

Posts Tagged ‘recession’

Dealing With Collection Agencies

Posted April 3, 2009 by Bernz

No one likes to get a call from a collection agency. It’s their job to get you to pay back money you owe to a creditor at a time when you may not have the money to do so. But ignoring calls from a collection agency is never in your best interests. They have a legal right to collect the debt on behalf of their clients and not complying can be used against you in any future legal proceeding.

However, you do have rights when it comes to dealing with debt collectors. Under the federal Fair Debt Collection Practices Act (FDCPA), collection agencies cannot legally do the following:

• Call you at unreasonable times (before 8 am or after 9 pm)
• Pretend to be someone other than a debt collector
• Use abusive language or threaten you with legal action
• Add on additional charges to the debt other than interest stated in the original contract
• Call your workplace if your employer forbids it
• Discuss your debt with third parties who are not directly connected as co-debtors

If any of these practices are happening, you can demand in writing that the collector stop contacting you except to let you know that collection efforts have ceased or that the case is going to trial. Remember, however, that not hearing from a collection agency doesn’t mean that you don’t still owe the debt. You can also file a complaint with the Federal Trade Commission. (more…)

Posted in Financial Education, Loans, Misc | 1 Comment »

Bartering Away the Recession

Posted February 5, 2009 by Bernz

As the daily economic news continues to paint a bleak picture of the health of American business, consumers seek out new ways to make the dollars stretch until the end of the month. A very old way of doing business is once again gaining popularity for its frugality and simplicity. Barter has been around ever since the beginning of commerce, only becoming more scarce as money took over as a means of trade. In the past several years, however, barter has become fashionable and organized barter networks have popped up all over the country.

Barter networks bring together those who have goods and services to trade and allow them to do so with pseudo-cash. These “barter dollars” accrue in members’ accounts and can be used to purchase other available items or services offered on the network. The bartering can be done face-to-face at barter meetings or, increasingly, on the internet.

Bartering helps the under-employed use their skills for compensation from customers who might not otherwise have the cash to spend. It then lets members purchase from any other member on the network with the “money” earned.

(more…)

Posted in Frugality, Misc, Saving Money | 2 Comments »

Recession Purgatory? Is there a way out?

Posted November 26, 2008 by Bernz

The folks on Wikipedia define recession as a period of reduced economic activity. They go onto say that an extended period could transform into a depression. Other definitions define the economic condition as a point in time when GDP falls, businesses stop expanding, housing prices drop and unemployment escalates (speculation is that 1 in 10 Americans could be out of work in the very near future). Sound like the sign of the times? Are we all about to face the Grapes of Wrath? Click the link to see a video clip of the original movie.

In spite of all the sour news, I’m keeping a positive attitude. The outcome of the recent presidential election has a lot to do with that. But folks, I’m also a realist.

Lately I’ve been posting on things we can do to cope with turbulent economic times. Things like saving, planning ahead, and investing our time, money and energy on things that are vitally important: think health, education, and our financial future. (more…)

Posted in Financial Education | 1 Comment »