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Resources
Banks / Banking
Banking sites:
bankrate.com This Web site provides a great database of mortgages, loans and certificates of deposit. You can see the best rates anywhere in the country for one-year CDs, five-year CDs, whatever length you want. It's a great place to shop for money market accounts, auto loans -- you name it.
FDIC Office of the Ombudsman - 800-250-9286 550 17th St, NW Washington, DC 20429 e-mail: ombudsman@fdic.gov
FDIC Consumer News Subscriptions are free of charge. To order, write: FDIC Room 7118, 550 17th Street, NW Washington, DC 20429
Keeping records: Cancelled Checks - 7 years Bank Deposit Slips - 7 years Bank Statements - 7 years
Regulation: Congress has given the responsibility of banks and federal credit unions to several federal agencies. If a consumer has a complaint against either a bank or federal credit union concerning debt collection, credit reporting, credit card disputes, or any other banking regulation problem, they can contact the following agencies:
FDIC - Division of Compliance & Consumer Affairs - (877) 275-3342 The agents at this number can respond to or refer all inquiries - deposit insurance coverage, open bank complaints, closed bank questions (lien releases, etc) E-mail: consumer@fdic.gov.
Office of the Comptroller of the Currency - Customer Assistance Group - 800-613-6743 1301 McKinney Street, Suite 3710 Houston, Texas 77010
Savings Bond Inquiry Center - 304-480-6112 To find info about US Savings Bonds or if you have lost a savings bond.
Bankruptcy
Services:
www.nfcc.org - National Foundation for Credit Counseling - Find links and phone numbers for state and local member agencies in your area.
Bankrupcy Information:
Chapter 7 - this is most frequently used by individuals. Under this arrangement, a court appointed trustee collects your assets, sells them for cash, and makes distributions to creditors. You can keep assests that are exempt either under Federal law or the law of your home state. You cannont repeat this filing for 6 years.
Chapter 13 - this is designed for an individual debtor who has a regular income and stable job. Under this procedure, you pay debts off over a three to five year period and keep your property. At a confirmation hearing, the court either approves or disapproves the plan. A Chapter 13 can be filed at any time.
Chapter 11 - reorganization and is generally targeted to businesses.
Chapter 12 - farmers can use this procedure.
Under Federal law, bankruptcies remain on your credit report: -Chapter 7, 11 - 10 years -Chapter 12, 13 - 7 years
Credit cards / Credit reports
Credit reporting agencies:
Equifax P.O. Box 105069 Atlanta, Ga 30348 To report fraud: Call 800-525-6285 and write to address above To order credit report: 800-685-1111 (free copies only obtained by mail)
Experian (formerly TRW) P. O. Box 9532, Allen, TX 75013 To report fraud: Call 888-397-3742 and write to address above. Fax: 800-301-7196 To order credit report: 866-200-6020 (free copies only obtained by mail)
Transunion P.O. Box 6790 Fullerton, Ca. 92834 To report fraud: 800-680-7289 and write to address above. To order credit report: 800-888-4213 or 1-800-916-8800 (free copies only obtained by mail)
Remember, you are entitled to a free credit report if you are a victim of identity theft, if you have been denied credit, if you receive welfare benefits, or if you are unemployed. The following shows how long information stays on your credit report:
1. Trade (Sears, Rich's, Macy's, etc.) credit card companies or collections agencies stay on credit report for 7 years from date of last activity.
2. Judgements or liens stay on credit report for 7 years from date it is filed. 3. Chapter 7 stays on for 10 years.
4. Medical is difficult and has to be handled case by case.
Credit unions & other finance agencies:
National Credit Union Administration -678-443-3000 If a consumer has a complaint against a federal credit union.
If credit union is not federally, but is state chartered, call your State Banking Commission.
Recommended steps for choosing a Financial Planner or a Stock Broker: 1. Ask trusted friend or advisor to refer 2. Call Secretary of State Securities Division or NASD for info 3. Interview in person
Nasdaq Stock Market Type in a company name or symbol and you are given recent news, financial information, stock performance charts, SEC filings and fundamentals.
Edgar's database - concerning everything filed with the SEC Type a person's name or a company name into a keyword search and it retrieves documents related to the company including enforcement actions and financial reports.
National Fraud Information Center - 800-876-7060 Provides information about areas such as bogus telemarketing, slamming and mail offers, including investment frauds.
