Protect against ID theft; “FREEZE” your credit files

To protect against ID theft “FREEZE”your credit bureau file.

The massive Medicaid data breech is affecting many people who never applied for Medicaid and had no idea their data might be included in the data theft.

“A security freeze means that your credit reporting file cannot be shared with potential creditors. A security freeze can help prevent new account identity theft. Most businesses will not open credit accounts without first checking a consumer’s credit history. If your credit files are frozen, even someone who has your name and Social Security number probably would not be able to obtain credit in your name.”

How do I place a security freeze?

To place a freeze, you must write to each of the three consumer reporting agencies. CRAs charge a “reasonable” fee, unless the fee is waived because you are a victim of identity theft. To prove you are a victim and avoid fees, you must send a copy of a police report to each consumer reporting agency to request a security freeze.  

A freeze provides more protection than a “security alert” on your credit report.

For details and a sample freeze letter:

http://www.consumersunion.org/pdf/security/securityUT.pdf

Another useful resource:  ID theft resource center (Utah link)

http://www.idtheftcenter.org/artman2/publish/states/Utah.shtml

5 Tips to Help You Avoid Investment Fraud and Protect Your Finances Webinar

April 24 – Join experts from AARP and the Financial Industry Regulatory Authority Investor Education Foundation for a conversation on how to avoid investment fraud and answer viewer questions on Tuesday, April 24 at 2:00 pm, ET. (noon in Mountain Time zone). 

Register today at www.aarp.org/moneywebinars for any of the upcoming events. Past webinars are also listed on the site.

Upcoming:

May 17 – Social Security – Ask the Experts. Ask AARP experts questions about Social Security benefits, including spousal benefits, benefits for divorced couples, survivor benefits, Social Security and work, and Social Security and taxes. We invite you to hear answers to the most frequently asked questions on Thursday, May 17 at 7:00 pm, ET.

Jumpstart Your Financial Plan with Free April 25 Webinar

Your tax return can be a roadmap to your financial goals. So don’t file it and forget it. Use it. The American Institute of CPAs will host CPA financial planner Mackey McNeill, CPA/PFS, for a webinar – “Taxes: Start Your Financial Plan Here” – on Wednesday, April 25 from 1:30 to 2:30 p.m., Eastern. It is free and open to all consumers.

The webinar is part of a broader series for consumers called “Take Charge: Your Money. Your Life.” created by America’s CPA financial planners and 360 Degrees of Financial Literacy to help boomers, young adults and retirees navigate financial issues important to them.

Who:                Mackey McNeill, CPA/PFS
Founder, CEO Mackey Advisors, Covington, Ken.
The American Institute of CPAs

What:              A webinar for consumers, “Taxes: Start Your Financial Plan Here”

·         Planning steps to take in an uncertain tax environment

·         How to ensure your retirement plan delivers

·         How to evaluate your investment strategy

·         And more … 

When:              Wednesday, April 25
1:30 p.m. to 2:30 p.m., Eastern

Where:            Visit this registration link and click “Register” at the bottom of the page.

Open a 529 college savings plan account

As previous blog posts have informed you, a 529 account is a great tax advantaged way to save for your child's, grandchild's, niece's, or nephew's (or your own) college education. If you've been procrastinating, open the account today so you can be eligible to win $529 for your child's account. May 29 is National 5•29 Day & throughout the month the Utah Educational Savings Plan will be encouraging account members to share the news and increase the number of children with college savings plans. You can open accounts for children in other states and they can attend college throughout the US and abroad. Research shows that children are more likely to attend college if they have saved for the expense. Start an account for the kid(s) in your life and encourage them to contribute money they earn or receive as gifts.  With all the concern about growing student debt loads, help your young scholars save for their education to avoid or reduce their eventual debt load. Learn more about UESP 529 plans (among the highest rated state plans) at http://www.uesp.org and get details of the contest at:
http://www.uesp.org/UESP-Newsletters/2012/April/529-Day.aspx

To Pay Off Loans, Grads Put Off Marriage, Children

Parents and students: get smart about college loans before you sign on the dotted line. Your future is at stake.  Read the article and watch the video interview with WSJ writer Sue Shellenbarger (WSJ 4/18/12)

"Most students get little help from colleges in choosing loans or calculating payments. Most pre-loan counseling for government loans is done online, and many students pay only fleeting attention to documents from private lenders. Many borrowers "are very confused, and don't have a good sense of what they've taken on," says Deanne Loonin, an attorney for the National Consumer Law Center in Boston and head of its Student Loan Borrower Assistance Project."  "More than half of student borrowers fail to max out government loans before taking out riskier private loans, according to research by the nonprofit Project on Student Debt."  

http://online.wsj.com/article/SB10001424052702304818404577350030559887086.html?link=SM_bor_sl_res
How NOT to major in debt:
"The total amount of outstanding student debt has surpassed $1 trillion, according to the Consumer Financial Protection Bureau. If your child is in the process of choosing a college—or is already enrolled—your family might soon be adding to the heap.
While the growing debt levels have raised concerns, student loans still are a reasonable way to help fund a college education—within limits. Even so, figuring out the process and navigating the financial-aid maze can be complex and mystifying" Get guidance from the Wall Street Journal: 
http://online.wsj.com/article/SB10001424052702304072004577325602871157444.html?link=SM_bor_sl_res