Boston Realtor Mike Mahoney
Michael Mahoney
617-615-9435617-615-9435

Posts Tagged ‘sburman@credit-advisers.com’

Identity Theft – A Guide for Victims

May 1st, 2019 by Michael Mahoney

Identity theft: A guide for Victims

Protect Your Identity

  • Do not discuss your personal information with banks or creditors in public places, such as at work.
  • Shred all documents you intend to throw away that have your name, address, social security, or account information.
  • Be wary of telephone or internet solicitations – if a deal sounds too good to be true, it probably is.
  • Do not deal with organizations you do not know. Check the reputability of a company with the Better Business Bureau.
  • Maintain records of your banking and financial accounts.
  • Consider where you use your credit and debit cards.
  • Use different passwords for your online banking and credit card.

Report Identity Theft

  • Contact all creditors with whom your name or identifying data have been fraudulently used to dispute fraudulent charges and close those accounts.
  • Request your creditor’s fraud dispute forms, and provide copies of supporting documents. Request return receipts, which you should keep for your records.
  • Place a fraud alert on your credit reports, which will prevent any more accounts being opened in your name. You can call any of the three credit bureaus to do this. Once fraud has been reported, all three reports should be sent to you free of charge.

Experian 1-888-397-3742
Equifax 1-800-525-6285
Trans Union 1-800-680-7289

  • Review all three credit reports for discrepancies and newly opened accounts. Any fraudulent activity needs to be disputed.
  • File a complaint with the FTC by phone, at 1-877-438-4338 or on their website: https://www.ftccomplaintassistant.gov/ The FTC can refer victims’ complaints to other government agencies and companies for further action, as well as investigate companies for violations of laws the agency enforces.
  • Review all three credit reports for discrepancies and newly opened accounts. Any fraudulent activity needs to be disputed.
  • File a complaint with the FTC by phone, at 1-877-438-4338 or on their website: https://www.ftccomplaintassistant.gov/ The FTC can refer victims’ complaints to other government agencies and companies for further action, as well as investigate companies for violations of laws the agency enforces.
  • Contact the FTC Social Security Administration at 1-800-269-0271, so that a fraud alert can be placed on your social security number.
  • File a report with the police department.
  • Be sure to keep a copy of the police report. Some credit card companies require proof of a police report to verify the crime occurred.

Addressing Specific Issues

Stolen Checks

Stop payment on all outstanding checks that you are unsure of. Cancel your checking and savings accounts and open new accounts with new account numbers. Report any stolen checks to the check verification companies.

ATM Cards

If your ATM card has been stolen, report it immediately. Get a new card and a new account number. When you receive the new card, be sure to use a new password that is difficult to guess.

Driver’s License Number

If someone is using your driver’s license number on bad checks, you may have to change your driver’s license number. You must call the Department of Motor Vehicles to see if another license was issued in your name. You must also fill out the DMV complaint form to begin the fraud investigation process. Send the complaint form and all supporting documents to your local DMV investigation office.

 

Fraudulent Change of Address

Notify the local Postal Inspector if you suspect an identity thief has filed a change of your address with the post office or has used the mail to commit credit or bank fraud. Find out where fraudulent credit cards were sent. Notify the local postmaster for that address to forward all mail in your name to your own address.

 

Phone Service

If your long distance calling card has been stolen or you discover fraudulent charges on your bill, cancel the account and open a new account. Change your password, and do not use a password that is easy to figure out such as your date of birth or your social security number.

Should you have additional questions feel free to contact Steven Burman at Credit Advisers LLC  Have questions answered directly by calling 781-400-9838 or e-mailing sburman@credit-advisers.com

 

 

6 Ways to Eliminate Excessive Debt

April 16th, 2019 by Michael Mahoney

6 Ways to Eliminate Excessive Debt

1. Self-Help – Self Help is when you attempt to repay creditors by managing your cash flow. Self-help is useful only if you have money available in your budget to make credit card payments and are not being sued by your creditors. You would want to work out a written plan for repaying creditors and setting goals for incurring no new debt.

2. Debt Management Plans – Under a debt management plan (DMP), a third party organization negotiates with your creditors on your behalf to set up a plan for paying off the debt. Payments are made to the agency, and that firm would then pay the creditors. If a debt management plan seems to be appropriate work only with a properly licensed DMP provider in the your state.

3. Debt Consolidation – Debt consolidation should only be considered for those who can consolidate debt with lower rate debt and NOT take on any new debt. If you consolidate unsecured debt with secured debt, such as a home equity loan, be cautioned that your home will be at risk if you fail to make payments.

4. Debt Settlement – An important aspect to remember is that any amount of debt forgiven is considered taxable income. Often time you may be able to settle an outstanding debt yourself. Our recommendation would be settling an account on your own or with a lawyer’s assistance if necessary. If you consider a debt settlement firm, check the firm thoroughly through the Better Business Bureau.

5. Offer and Compromise – Offer in Compromise is an agreement between a taxpayer and the IRS that serves to resolve the taxpayer’s outstanding tax debt. The IRS has the authority to settle, or “compromise” federal tax liabilities by accepting less than full payment under certain circumstances. A tax debt can be legally compromised for one of the following reasons: Doubt as to Liability – There is doubt that the assessed tax is correct. Doubt as to Collectability – There is doubt that an individual would ever be able to pay the full amount of taxes owed.

6. Bankruptcy – Bankruptcy should be viewed as the last alternative to managing an overburdened debt load, although for some it may be the only alternative. Bankruptcy is a legal process whereby an individual’s outstanding debt is either reduced or eliminated under protection and supervision of the court. If there are payments to be made to creditors, a schedule is drawn up under court supervision.

Another post recently published by Steve Burman on how to improve your credit score:

7 Steps to Improve Your Credit Score

Should you have additional questions feel free to contact Steven Burman at Credit Advisers LLC  Have questions answered directly by calling 781-400-9838 or e-mailing sburman@credit-advisers.com

Another great way to connect with Steven is on his Linkedin.com Page

7 Steps to Improve Your Credit Score

April 9th, 2019 by Michael Mahoney

This week we have a great article on how to improve your credit score. Credit is one o

7 Steps to Improve Your Credit Score

  1. Make sure your credit reports are accurateThe first step to improving your credit score is checking your credit reports for errors. You can obtain all 3 reports (Experian, Trans Union, Equifax) for free at www.annualcreditreport.com
  2. Stay current with payments – Your credit score is basically a reflection of your ability to repay your debts responsibly. Creditors view an established history of timely payments as a good indicator that you will handle future debts in a timely manner.
  3. Be mindful of your credit card utilization rate – Credit utilization is one of the key factors that influence your score. This is the percentage of your credit limit you are accessing at a given time. Your ideal rate may vary depending on the scoring system used, but generally going over 30% revolving credit utilization can start bringing your score down.
  4. Leave old debts on your report – Having an account with a long history and a steady record of paying bills on time can keep a score from going down. In addition, your score can improve as future payments are made.
  5. Investigate consumer score-boosting programs – FICO, Experian, and Finicity have credit boost programs in different stages of development. Experian_Boost is currently up and running. Experian Boost is completely free and can increase your credit scores fast (within 24 hours) by using your own positive payment history.
  6. Resolve any collections accountsContact the debt collector listed on your credit report to see if they’d be willing to stop reporting the debt in exchange for full payment. If you do not recognize a certain debt, or it appears inaccurate you can dispute it with the credit bureaus. You may be able to have it removed, which will improve your score quickly.
  7. Monitor your credit – Monitoring your score changes every few months can help you understand how well you’re managing your credit and whether you should make any changes. Many services are free such as www.creditkarma.com

Should you have additional questions feel free to contact Steven Burman at Credit Advisers LLC  Have questions answered directly by calling 781-400-9838 or e-mailing sburman@credit-advisers.com

Another great way to connect with Steven is on his Linkedin.com Page

Reviews

5suzannechapman1208

I selected Mike after having a very unsuccessful experience with a previous broker. He had excellent ideas in helping to sell my house and continued to advertise it with a fresh perspective. His experience helped in a number of ways and I only wish we had... (more)

5goodlife99

This is the second property I have sold in Weymouth MA with Mike as my broker. He research the area and give you all the information you need to decide what to list your property for, so it sells timely. He also helps review and negotiate all offers and is... (more)

5SullyLemmons

We had been trying to sell our condo for well over a year and decided to give Mike a shot at it as he came well recommended. It was not easy for him but he persisted and had success. Even though it wasn't a big sale or profit for him, he acted as though it... (more)

Review Michael Mahoney on Zillow.com

Community Events

There are no events scheduled for 02132 at this time.