Thursday, December 08, 2005

Most email users are becoming more knowledgeable about ‘email etiquette’ and the basic email ‘do’s and don’ts’, but there are some helpful tips to heed that can enhance our Internet experience and protect us from many of harmful viruses, Internet scams, and unsolicited commercial email, known as spam.

No doubt your place of employment has established some general rules of email use in the work environment, but when it comes to using your personal email account, whether from your home or from remote locations, there are some simple rules to follow that will make your online experience more enjoyable and more productive.

Maintain More Than One Email Account
Establish two or three email accounts, and designate each account for specific purposes. (This will not only save you a great deal of time and stress, but it will help to protect your personal information.)

Designate one email account specifically for your online payments. This makes it easier for you to maintain the security of your electronic purchases by exposing only one card online and allows you to monitor all your Internet purchases by viewing one credit card statement. If you are exposed to an identity theft scam, you’ll be able to discover it quicker and minimize the damages.

Designate another account for your online subscriptions, downloads, newsgroups, and general use. You will most likely receive an abundance of unsolicited commercial email (spam) in this account but there are ways to keep spam under control – as outlined in the following section, and these two previous accounts will help you to avoid unwanted email from being delivered to your personal account.

Finally, designate one account as your personal email account, and be stingy with whom you share this address with. That way, when you want to quickly check your email, you won’t have to wade through piles of spam just to read an email from a family member. Do not publish this email anywhere on the web or use it with chat rooms and news groups.

The Scoop on Spam
Two of your three email accounts will undoubtedly be targeted for spam. (The technical term for spam is “unsolicited commercial email” (UCE) that is sent in bulk without prior request or consent.) These mass emails often carry messages involving pyramid schemes, adult products, frauds, and computer viruses.

While it was first termed "junk mail", today’s popular term of “spam” caught on with the public as a result of a TV skit on Monty Python where Vikings invaded a ‘dive restaurant’ and the word "spam" was used more and more frequently as the waitress spouted off each successive dish on the menu, similar to the way spam email seems to endlessly accumulate in your mailbox.

The first known spam email was sent on May 1st, 1978, by a DEC marketing representative to every Arpanet address on the west coast of the United States. The general public reaction was one of outrage, and it hasn't subsided since. The majority of email sent on the net is spam, and the sheer volume threatens to bury the legitimate, everyday email being sent.

It’s important to note however; that even though spam is frequently used by scam artists, not all spam is fraudulent.

Legitimate marketers as well as con-artists have found the ability to quickly and affordably reach huge numbers of consumers through email too tempting to pass up. For criminals who don’t need to worry about actually providing a physical product or service, only a tiny fraction of the thousands or millions of email recipients need respond in order for the spammers to make a lot of money. It’s a shot in the dark for these swindlers, but there are more than enough con-artists and fraudsters who are willing to pull the trigger.

Spammers obtain email addresses by purchasing lists from marketing brokers who have “harvested” the addresses from various sources including: websites, Internet chat rooms, newsgroup postings, and online membership directories. The address list is then dropped into special software and the message is sent to thousands, and even millions of consumers. Depending on the software used, the spammers can even see who opened the email and then place those addresses on a new marketing list, subjecting them to more spam.

FTC Enforcement Action
The FTC has taken several steps to control deceptive spam. In 1998, the Commission set up a special email account to monitor spam and track spammers. Today, that account receives about 40,000 pieces a day. Three years ago, the same mailbox received about 4,000 a day.

No More Spam!
You can enhance your security and greatly reduce, or even eliminate the amount of spam you receive by diligently implementing and following the procedures and guidelines provided here:

1. Never respond to an email that asks for personal information (i.e., phone number, address, account information etc.)

2. Don’t display your private email address in public spaces, including chat rooms and newsgroup postings, on websites, or in membership directories of online services. (The most effective way to prevent spam is to never divulge your email address to third parties.)
If you enter a chat room or a newsgroup, disguise your email with nonsense words or use a temporary address.

3. Never send money to anyone who contacts you by email for any reason whatsoever.

4. Avoid opening or previewing any unsolicited email. (If you preview a spam email and it has an image link you are validating your email address, inviting even more spam.)
As tempting or enticing as those subject lines may be, don’t take the bait. Many times the subject may even sound like the email is from a friend or other trusted source. Some of the nastiest computer viruses have been propagated by consumers who innocently opened an email – along with its’ attachment – that had the subject: “Here’s the file you wanted,” or “Here’s my picture,” etc.

5. Always check the source of the email before you open it, and NEVER open an email attachment unless you know what it is and where it came from.

6. Finally, don’t click on the ‘unsubscribe’ or ‘remove me’ link. A spam filtering firm (MessageLabs) recently discovered that some spammers are sneaking special code into the ‘opt-out’ link that, upon activation, uses the victim’s computer to route more spam through. So, in addition to validating your email by clicking on a spam ‘opt-out’ link, you may also be downloading a Trojan that turns your computer into an open proxy for sending more spam.

Other variations of the attack place keystroke loggers on victims' computers that enable the spammer to collect passwords and other personal information.

Stay informed of the latest Internet scams and hoaxes, and keep current on your virus protection software and security patches. The technology of the Internet is a tremendous achievement, but with every great technological accomplishment there comes a downside, and we need to be mindful of our vulnerabilities and take preventive action to fully enjoy the advantages that technology has to offer.

For more information on email and Internet safety, visit Ovation Law’s Educational Resource Center and download our e-book, Internet Safety Tips.

Contact Us
If you have any other questions or need for credit report repair services, please contact us anytime:
Phone: 1 (866) 639 - 3426
Email: info@OvationLaw.com

12/8/2005 2:29:17 PM (Eastern Standard Time, UTC-05:00)

Are you facing the possibility of a foreclosure? Before bailing out without a parachute, do some homework and see if there are ways to minimize or even eliminate your losses.

Obviously, you're certainly better off selling the house than having it go to foreclosure. If you can find a buyer who will offer to pay at least what you owe your lender, take the offer rather than face a foreclosure. However, this solution is generally not easy to come by and usually not timely enough to satisfy the mortgage company.

If you receive an offer that is for less than what you owe your lender, your lender can actually block the sale. Yet you can approach your mortgage company about a “short” sale or deed in lieu of foreclosure. However, one stipulation to qualify is that you must occupy the property. (A short sale of property is one in which the sale proceeds won't cover the amount owed on the loan and the lender agrees to forego the rest.) Many lenders will agree to a short sale, but some may require documentation of any financial or medical hardship you have experienced before agreeing to a short sale.

Also, be aware of current market values. Check out prices of comparable properties – ones that are the same size in the same neighborhood that sold during the last six to 12 months – on websites such as www.domania.com.

Another option is to simply execute a deed giving the property back to the mortgage company. You do not need to actually qualify for a deed in lieu of foreclosure.

You may have been told by the mortgage company that you didn't "qualify" (mortgage companies typically don’t want the property back), but they cannot stop you from executing a deed in the company's favor. The difference between the house's value (the amount for which the company sells it) and the total balance owed. This difference is called a deficiency. Unless the mortgage company writes off the deficiency, you are still liable for that amount.

If the mortgage company writes off any part of the deficiency, you’ll receive an IRS Form 1099-Misc next year and the amount written off will have to be reported as income. However, you can avoid this if you can show that at the time of the write-off, your debts exceeded the value of your assets. We recommend having an accountant or professional tax preparer assist you before the April 15 filing date.

If you want to try to negotiate with the mortgage company – either on the mortgage now or on the deficiency balance later, visit www.myvesta.org
(formerly Debt Counselors of America), or call 800-MYVESTA.

Foreclosure Proceedings
Most lenders don't start foreclosure proceedings until you've missed four or five payments, but it varies from state to state. Before taking back your house, most lenders would rather rewrite the loan, suspend principal payments for a while (have you pay interest only), reduce your payments or even let you miss a few payments and spread them out over time.

If your loan is owned by one of the giant U.S. government mortgage holders, Fannie Mae or Freddie Mac, foreclosure could come even more slowly. Fannie Mae and Freddie Mac have been working with homeowners to avoid foreclosure when a loan is delinquent.

If your loan is insured by a federal agency, such as the Department of Housing and Urban Development (HUD) or the Federal Housing Administration (FHA), the lender may be required to try to assist you in preventing foreclosure.

Contact Us
If you have any questions about your credit and how bankruptcy and foreclosure affect your credit report, or need credit report repair services, please contact Ovation Law anytime:

Phone: 1 (866) 639 - 3426
Email: info@OvationLaw.com

12/8/2005 12:56:28 PM (Eastern Standard Time, UTC-05:00)

Most people don't think of bankruptcy as the 'solution-of-choice' to their financial woes because of the long-term ramifications and social stigma. However, when you have no other means of keeping the ship afloat, bankruptcy offers hope to sail another day. For qualified applicants, bankruptcy can mean a fresh financial start and an opportunity for a secure future.

Chapter 7 and Chapter 13 bankruptcy are legal proceedings that are available to a person in severe financial distress. But remember, bankruptcy does have far-reaching and long-lasting effects, and should be considered only as a last resort.

Bankruptcies remain on your credit report for 7 to 10 years, so stay away from credit repair agencies that claim to be able to remove legitimate and verifiable bankruptcies from your credit history. Their methods are unethical and often illegal – and you may be the one facing criminal charges!

Creditors and Bill Collectors Must Stop Contacting You

By law, all actions against a debtor must cease once bankruptcy documents are filed. Creditors cannot initiate or continue any lawsuits, wage garnishments, or even telephone calls demanding payments.  Secured creditors such as banks, holding for example, a lien on a car, may get the stay lifted if you cannot make payments.

The Effects of Bankruptcy on Your Spouse
Your wife or husband will not be affected by your bankruptcy if he/she did not sign an agreement or contract for any of your debt. Your spouse would most likely be responsible if a supplemental credit card was issued meaning you each have your own card, but jointly applied.

However, in community property states, either spouse can contract for a debt without the other spouse's signature on anything, and still obligate the other. There are a few exceptions to that rule, such as the purchase or sale of real estate; those few exceptions do require both spouses’ signatures on contracts. But the day-to-day debts, such as credit cards, do not require both spouses to have signed. Professional advice from a qualified bankruptcy attorney in your state should be sought to determine the effects on you and your spouse.

Public Knowledge
Even though Chapter 7 filings are public records, under normal circumstances, no one other than your creditors will know you filed for Chapter 7. However, the credit bureaus will record your filing and it will remain on your credit record for 7 to 10 years.

Keeping Your Current Credit Cards
Whether a debtor keeps credit cards after filing bankruptcy is up to the credit card company. If you are discharging a credit card they will usually cancel the card unless you reaffirm the debt. Even having a zero balance, the credit card company may still choose to cancel the card.

Keeping Your Current Job
U.S.C. Sec. 525, prohibits any employer from discriminating against you because you filed bankruptcy.

Keeping Your Possessions
In a bankruptcy, assets in excess of your allowed personal exemption, or non exempt assets such as, real estate, automobiles and boats will be liquidated by the trustee. You are allowed to keep certain assets, depending on the state in which you reside.

Rebuilding Your Credit
Several banks now offer 'secured' credit cards. These credit cards can be obtained when a debtor deposits a certain amount of money (as little as $200) into an account to guarantee payment. Usually the credit limit is equal to the security amount given and is increased as the debtor demonstrates ability to pay the debt.

Two years after a discharge in bankruptcy, debtors are eligible for mortgage loans on terms as good as those of others, with the same financial profile as those who have not filed Chapter 7.  The size of your down payment and the stability of your income will be much more important than the fact you filed Chapter 7 in the past.

The fact you filed Chapter 7 or 13 stays on your credit report for 7 to 10 years becomes less significant the more time has passed since the filing.  Depending on your specific situation, you could be a better credit risk to some lenders after bankruptcy than you were before.

Costs of Filing Bankruptcy
The cost to file a Chapter 7 bankruptcy varies, but is generally about $200. Keep in mind that this is only a filing fee and in most cases you should consider consulting with a qualified attorney who is licensed in your state. Bankruptcy attorneys’ fees vary considerably throughout the country. It is not uncommon for bankruptcy lawyers to offer a free initial consultation, so shop around and meet with a few lawyers who offer the free consultation and see which firm you feel would most effectively meet your needs. Also, to keep costs at a minimum, organize your financial statements before your meetings with the attorney.

Contact Us
If you have any questions about your credit and how bankruptcy and foreclosure affect your credit report, or credit report repair services, please contact Ovation Law anytime:

Phone: 1 (866) 639 - 3426
Email: info@OvationLaw.com

12/8/2005 12:46:58 PM (Eastern Standard Time, UTC-05:00)

Now that you have your credit report, just how do you make sense of it all and what exactly are the credit bureaus saying about you? The following information shows the ratings used in credit reports and will assist you in the process of understanding your overall credit rating and what credit report items you should consider disputing with the credit bureaus.

    R0 - Too new to rate. Approved but not used.
    R1 - Pays within 30 days of billing or as agreed.
    R3 - Pays in more than 30 days, but less than 60 or when next payment
           is due.
    R4 - Pays in more than 60 days, but less than 90 or when two payments
           are due.
    R5 - Account is at least 120 days past due but is not yet rated R9.
    R6 - No rating exists.
    R7 - Paid through a consolidation order, consumer proposal or
           credit counseling debtmanagement program.
    R8 - Repossession
    R9 - Bad debt, or placed for collection or bankruptcy

Each item on your credit report carries a corresponding ratings number that summarizes your account status.

  R –  Revolving Account
  I   –  Installment Loan
  I0 –  Installment Loan with no Payments Yet

Repairing your credit report is one of the most important financial decisions you can make. Ovation Law is a trusted law firm, and we make the process convenient, personal, and effective. Contact us today for more information:

Phone: 1 (866) 639 - 3426
Email: info@OvationLaw.com

12/8/2005 12:32:00 PM (Eastern Standard Time, UTC-05:00)
 Wednesday, December 07, 2005

What is Identity theft?
Identity theft is a serious crime and occurs when someone uses your personal information such as your name, social security number, credit card number or other identifying information, without your permission to commit fraud or other crimes. People whose identities have been stolen can spend months or years - and money - cleaning up the mess thievers have made of their good name and credit record. In the meantime, victims may lose job opportunities, be refused loans, education, housing, cars or even get arrested for crimes they didn't commit.

Identity Fraud – A Rising Tide

Identity theft is the fastest growing crime in America!  According to a Federal Trade Commission survey, 9.9 million Americans were victimized in the last 12 months – a level ten times higher than the agency previously estimated. The victims collectively reported $5 billion in out-of-pocket losses, due in large part because most victims don't discover the fraud until it's too late – perhaps even a year or more after the fact.  Additional identity theft statistics include:

  • Identity theft is up about 80 percent from last year.
  • As many as 33.4 million Americans were victims of identity theft since 1990.
  • Nearly 85 percent of all victims discover their identity theft case in a negative manner (as opposed to proactive action taken by a creditor or business).
  • In the past 12 months, 3.23 million consumers discovered that new accounts had been opened, and other frauds had been committed in their name.

For additional information, visit our online Educational Resource Center and download our FREE, comprehensive Identity Theft Prevention Manual today.

Important Contact Information

If you’ve been a victim of identity theft, call the FTC’s Identity Theft Hotline toll-free at 1-877-IDTHEFT (438-4338).


Social Security Administration (Fraud line): 1-800-269-0271

Identity Theft Credit Repair Program

Ovation Law, P.A.
Call:
1 (866) 639 - 3426
www.OvationLaw.com
info@OvationLaw.com

Rights under the Telemarketing Sales Rule

To learn about your rights under the Telemarketing Sales Rule and how to protect yourself from fraudulent telephone sales practices, request a free copy of Straight Talk About Telemarketing.
Contact the Consumer Response Center at:

Federal Trade Commission
600 Pennsylvania Avenue, NW
Washington, DC 20580
Toll free, at 1-877-FTC-HELP (382-4357)
TDD 1-866-653-4261


Contact Us
Repairing your credit report is one of the most important financial decisions you can make.  Ovation Law is a trusted law firm that makes the process convenient, personal, and effective.  If you have any other questions or need for credit report repair services, please contact us anytime.

12/7/2005 3:00:30 PM (Eastern Standard Time, UTC-05:00)
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