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Tag: fraud alert

To Your Credit

Sun, April 28, 2019 Published by

Understanding your credit report is no easy task. The three credit reporting agencies, TransUnion, Experian, and Equifax, are private businesses that hold our financial histories in their hands. Every credit card, missed/late payment, home mortgage, and car loan are catalogued on our credit reports, along with our social security numbers, driver’s license numbers, and personal data histories. You cannot opt out. This information is sold to lenders who are wanting to know how reliable you are in repaying debt.

Some terms to know:

Credit bureaus: One key point to understanding credit bureaus is to realize that you are not the consumer when it comes to these agencies: you, or more accurately your data, are the product. Historically, the bureaus have had control of how we can access, review, and control our own information.

The public became more aware of the power of these private businesses after the 2017 Equifax breach, in which the data of over 140 million Americans was hacked. Since then, consumers have (a little) more say in how their credit reports are shared.

Credit score: Your record of reliability is represented by your credit score, which is a result of a number of factors found in your reports. The higher your score, the better credit terms available to you.

Credit report: You have the right to a free credit report (not credit score) from each of the three agencies each year. Credit reports do not contain your credit score.

Credit freeze: Freezing your credit is the best way to prevent others from taking out credit in your name (identity fraud). When you freeze your credit, you cannot take out a loan without “unfreezing” it first, which only you can do with the password you create.

Fraud alert: A fraud alert allows creditors to get a copy of your credit report as long as they verify your identity. For example, the business must call you to verify whether you are the person making the credit request. There are various levels of fraud alerts, depending on your circumstances.

Finally, know that there are many other private businesses that seek to profit from our collective anxiety over identity theft and credit reports in general. While these are not necessarily scams, they are often products that duplicate what could be acquired for free. Please feel free to contact me with any questions or concerns regarding your credit report.

You Are A Winner!

Fri, July 7, 2017 Published by

“Official Notification”  “Authorization Notification for Transfer of a Check” “Disbursement Documents Enclosed”  “Confirmed Monetary Notification”  “You are a winner!”  “Enjoy a Free Vacation”

These are just a few statements on the envelopes you residents receive.  It is no secret – seniors are one of the most highly targeted groups by those who live by scams.

Who couldn’t use an extra million dollars to eat at Elaine’s every night?  And imagine what I could do for the Employee Appreciation Fund.  However, sadly, these are just ploys to get a wishful dreamer to give up his or her personal information so that the scammer can hit the jackpot – you.

Don’t get scammed.  Remember:

  • In a legitimate lottery, the winner makes the contact.
  • Never respond to phone calls, emails or letters saying that you have won anything, especially if they ask for personal information, and never confirm anything about yourself.
  • Do not wire money to anyone for “taxes” or “legal fees” to collect your supposed winnings.
  • If someone wants you to go to your bank to take out cash, do not do it!

If you feel you must inquire further into the one in ten trillion chances that the individual writing you from Nigeria really cannot collect his or her winnings and wants to give it to you, consider the following:

  • Ask a lot of questions.
  • Ask for written information.
  • Check with the Better Business Bureau.
  • Never give out any personal information!

And should your phone ring, the IRS, FBI, US Attorney and the Federal Trade Commission are not going to be calling you to notify you of any winnings – so hang up when they say it is them.  You can also put your name on the Do Not Call list at www.donotcall.gov, or tell the caller to put you on the Do Not Call list.  Best of all – just hang up.

All of us have dreams of opening our door and seeing balloons dropping from the air with a 20-piece marching band going up and down the hall and that $20 million dollar check, blown up on poster board, being handed to us.  One of my relatives once confessed to me that she used to practice opening the door to make sure she looked surprised when she was told she was one of three finalists for one sweepstakes.  For what it is worth, if the band is there, and you are being handed the check, and they are not asking you for a check from you first, you just might be a winner (and thanks in advance for remembering the Beatitudes Foundation).  Any other scenario, unfortunately, is a scam.

One resident shared with us that when she received a phone call announcing that she had won the lottery she immediately said that she would like the contact information and that her attorney would be contacting them to work out the details.  This was brilliant.  By the way, they never gave her the contact information.

If you really want to be a winner, hold onto your money and identity, throw the mail away and hang up the phone.  You will be a winner every time.

If you want more information, go to azag.gov, or just ask me or Josephine Levy, our Resource Navigator, and we will share with you our resources on how we can all avoid being scammed.