Poll Shows Young Adults May be Overlooking Obvious Resources for Sound Financial Advice

by Admin 2. July 2014 03:59

Baby boomer generation performing well in many areas of financial management

Washington, DC - Moms may receive a book on personal finance as their Mother’s Day

gift this year, as the National Foundation for Credit Counseling (NFCC) recent online poll

revealed that if financial advice were needed, more people would reach out to dad than

mom for help.

Moreover, the majority of poll respondents, sixty-four percent, felt as though they could

obtain better advice than what either mom or dad can offer. Considering the abundance of

financial guidance available, consumers indeed have many options, but leaving parents

out of the equation might mean missing an opportunity for solid, tried and true financial

advice.

“Taken together, only slightly more than one-third of respondents would turn to either

parent,” said Gail Cunningham, spokesperson for the NFCC. “Younger generations may

want to reconsider where they seek financial advice, as the data associated with baby

boomers from the NFCC’s 2014 Financial Literacy Survey indicates that the 55-64 age

range has their financial act together in many areas associated with successful money

management.”

Consider the following:

• Sixty-four percent give themselves a grade of A or B on their knowledge of personal

finance.

• Eighty-two percent pay all of their bills on time and have no debts in collections.

The only age group with a better record (91%) are those age 65 and above.

• More than half (52%) carry no credit card debt over from month-to-month.

• Only three percent are worried about not being able to pay their credit card debt,

and a meager one percent has made a payment that was less than the required

minimum in the past 12 months.

• Seventy-two percent report having savings beyond that earmarked for retirement.

• People in the two oldest age groups, 55-64 and those over 65, contribute at least 20

percent annually toward their retirement savings.

Cunningham also noted that many in the baby boomer generation apparently feel confident

about the lifetime of financial decisions they’ve made. When asked if their money could

talk, 45 percent indicated it would say “we’ve been a successful team.”

If consumers elect to seek advice from a business or organization, it is important to choose

wisely when selecting who to turn to for help. In advance of making a decision, the NFCC

recommends checking with the Better Business Bureau and the state Attorney General’s

office. Also, ask friends or the Human Resource department at work for recommendations.

If you seek advice and answers beyond what your parents may offer, consider reaching out

to a nonprofit NFCC member agency. To be automatically connected to the office closest

to you, dial (800) 388-2227, or for assistance in Spanish call (800) 682-9832. Inquire

about the NFCC’s Sharpen Your Financial Focus™ program which has helped tens of

thousands of people find solutions to their financial concerns. To learn more about what

the program has to offer, visit www.SharpenToday.org or www.agudicehoy.org.

The NFCC April poll question and results are as follows:

If I needed personal financial advice, I would ask

A. Mom, as she’s more financially savvy than Dad =16%

B. Dad, as he’s more financially savvy than Mom = 20%

C. Neither, as I could get better advice elsewhere = 64%

Note: The NFCC’s April Financial Literacy Opinion Index was conducted via the homepage

of the NFCC website (www.DebtAdvice.org) from April 1–30, 2014, and was answered by

861 individuals.

-30-

The National Foundation for Credit Counseling (NFCC), founded in 1951, is the nation’s largest

and longest serving national nonprofit financial counseling organization. The NFCC’s mission is to

promote the national agenda for financially responsible behavior, and build capacity for its

members to deliver the highest-quality financial education and counseling services. NFCC

Members annually help millions of consumers through more than 600 community-based offices

nationwide. For free and affordable confidential advice through a reputable NFCC Member, call

(800) 388-2227, (en Español (800) 682-9832) or visit www.nfcc.org. Visit us on Facebook:

www.facebook.com/NFCCDebtAdvice, on Twitter: twitter.com/NFCCDebtAdvice, on YouTube:

www.YouTube.com/NFCC09 and our blog: http://financialeducation.nfcc.org/.

Tags:

Ten Personal Finance Principles for Youth

by Admin 4. April 2014 03:15

Though most children form lifelong attitudes about money by the time they finish fifth grade, research shows that only one-third of parents discuss financial issues with their children. Below are 10 personal finance principles that every young person should know.

1. Determine wants vs. needs. It is natural to want more than we need, and peer pressure makes us even more susceptible to frivolous purchases. Practice setting personal financial limits now, and carry that good habit into adulthood.
2. Consider consequences. Unless a purchase is critical, think carefully before buying. When in doubt, wait a day or two. If you still want the item after waiting, then you are less likely to have regrets later. Most importantly, never use shopping as personal therapy.
3. Remember that the government gets part of your pay. Once you start working, you will start paying taxes. “Gross pay” refers to total pay before taxes, and “net pay” refers to what you actually receive. Base your budgeting and spending on net pay, and do not assume that income taxes will be returned to you because you are a student. The amount returned is dependent on total pay earned from all jobs throughout the year.
4. Pay yourself first. For youth, time is your most valuable asset. Start saving now for large purchases later and for your eventual retirement. Deferred gratification is a sign of maturity.
5. Make a budget. Think of a budget as a spending plan, not as a burden. Prioritizing values simplifies planning. When determining your budget, first plan for your needs, then determine what is left over for your wants. A common mistake teens make is buying a relatively expensive automobile that becomes too burdensome to maintain.
6. Use credit wisely. Never charge clothes, food, gas, etc., on a credit card if you cannot pay off all of it at the end of the month. The way you handle credit affects your credit rating, which you need to rent an apartment and buy a car. Your credit rating may even be part of a job screening process. Credit reports also determine the amount charged for utility deposits and the rate of interest charged on loans.
7. Treat your money like a business. Keep records, balance your checkbook, and read your statements thoroughly. Be systematic about checking accounts and credit usage. Take precautions to protect your Social Security number. If you find a mistake, take action immediately. The sooner you tackle a problem, the more likely you will have a successful resolution.
8. Don’t forget about interest. Interest is the amount paid for the use of someone else’s money. When you deposit savings into an account, your bank pays you interest; when you borrow, you pay interest to the lender. Seek a high interest rate for your savings account, and a low rate when borrowing. The interest you pay on a loan can significantly add to the overall price of your purchase.
9. Protect yourself. Purchase insurance to protect yourself from substantial financial loss. To determine your insurance needs, consider the cost of insurance vs. potential loss. Never expect 100 percent replacement value, due to depreciation and deductibles. Remember that multiple insurance claims can increase premiums.
10. Ask for help. Successful personal financial management is a skill sometimes learned through mistakes. Ask a parent, banker, teacher or trusted friend for advice or help if you begin to struggle. It may take effort and sacrifice to regain stability, but it can be done.

This information is provided with the understanding that the Association is not engaged in rendering specific legal, accounting or other professional services. If specific expert assistance is required, the services of a professional should be sought. Provided as a public service by the Indiana Bankers Association.

Tags:

Do You Have A Will?

by Admin 21. November 2013 06:44

 

 

 A recent survey at Lawyer.com reports that approximately 35 percent of adults in the United States do not have valid wills. If you are one of these people, make a resolution to take care of this basic responsibility this year. The following are some issues to consider when drawing up a will. But first, seek a good lawyer to help ensure that your estate will be divided as you wish.

Decide Who Gets Your Possessions

When you draft a will, you direct who receives your possessions when you die. Additionally you can use a will to make charitable donations. Your will may also be used to disinherit estranged heirs or to unequally distribute possessions to heirs who have already received substantial gifts.

Without a will, a probate court will decide how to distribute your belongings. You could leave instructions instead of a will, but the court is not legally bound to follow them, and may actually be legally bound to act contrary to them.

Lower Taxes and the Cost of Probate

Probating a will is typically less expensive, less time-consuming and less complicated than probating an estate without a will. That is primarily because in a will you can name an executor who acts without a bond and without court supervision. Most estates are small enough to escape federal estate taxes, but if your estate is over $5 million,

it is imperative that you see an experienced estate-planning attorney.

Decide Who Cares for Your Minor Children

If you do not have a will that specifies who you have chosen as guardian or guardians for your minor children, then the probate court, after listening to testimony of others, will make this decision. Your children could end up in the care of persons neither you nor they would choose. The most commonly chosen guardians are married couples who are family.

Establish a Trust for Your Children

Many people do not know that they can establish trusts for their children in their wills (whether minors or not). You can choose how old your children will be before the trustee distributes their share to them. Until the children reach that age, the trustee can use the assets of the trust to care for your children. Usually the trustee and the guardian are the same person or persons.

Protect Your Business

It is tragic when a family loses its source of business income and employees lose their jobs, because the business owner died without a plan for continuing the business. A good attorney can help a business owner with business continuity planning, and it starts with a well-drafted will.

This information is provided with the understanding that the association is not engaged in rendering specific legal, accounting or other professional services. If specific expert assistance is required, the services of a professional should be sought.

 

Provided as a public service by the Indiana Bankers Association.

Tags:

Protecting Against Data Breaches

by Admin 12. June 2012 09:51
The possibility of the average consumer becoming a victim of a data breach grows with each new advancement in electronics. A data breach occurs when sensitive or confidential information—driver’s license numbers, medical records, Social Security numbers, bank or credit card account numbers—is stolen, copied or used by an unauthorized person. In 2004, only one state required businesses to alert consumers if their personal data had been stolen. Since then, legislation has passed in 45 additional states, including Indiana, to ensure that affected consumers are contacted should their personal information be lost or stolen. While news spreads quickly when there is a major breach affecting millions of accounts, large companies are not the only ones that suffer from such thefts. Smaller companies can be compromised by an employee, a partner or an external computer hacker. Prevention Consumers can take the following steps to protect against a personal data breach: • Review credit card and bank statements for fraudulent charges at least once a month.   If there is a suspicious charge, contact your financial institution. • Request that your financial institution close any accounts that you suspect were compromised, and ask for replacement cards with new account numbers and PINs.   • Determine if there have been unusual requests, such as change-of-address or attempts to secure additional or replacement credit cards.     • Instruct the card issuer not to honor any requests regarding your card without your written authorization.   • Credit card issuers offer a variety of e-mail and/or text notices. You can ask for a notice when charges over a certain amount are made, or when your balance reaches a certain level. Follow Up If you have been the victim of identity theft, contact the three credit reporting agencies—Equifax, Experian and TransUnion—to place a security freeze on your account: • Equifax 800-525-6285, www.equifax.com • Experian 888-397-3742, www.experian.com • TransUnion 800-680-7289, www.transunion.com   Report the identity theft to the police, as you may need to provide a copy of the police report to your bank, creditors and credit reporting agencies. If the local police are not familiar with investigating information compromises, contact the local office of the FBI or the U.S. Secret Service. To ensure that an identity thief has not opened a new account in your name, you should review your credit report. To obtain a free copy of the report, go to www.annualcreditreport.com. If there are any accounts on your report that you did not open, contact the credit bureau to report the fraud and dispute the charges.

Tags:

Tips to Teach Children Financial Responsibility

by Admin 1. May 2012 10:46

April is National Financial Literacy Month, and your bankers are encouraging parents to take this opportunity to teach your children the importance of
financial responsibility. By making financial education a family priority, children
can learn the importance of budgeting, saving, investing and using credit wisely. The path to financial success begins at home, and children learn best by watching the example their parents set. The following tips are simple ways that parents can provide the foundation necessary for their children to make sound financial decisions for the rest of their lives.


1. Teach children to save starting from a young age. Encourage young children to save their birthday money from grandma, coins they find on the car floor and other money in a piggy bank or a shoe box. Have them count the money at the end of each month to see how their savings grow.


2. Open a savings account for your children. Once your child is older and receives an allowance in addition to potentially earning money for doing household chores or babysitting, take him or her to your bank to open a savings account. Teach your child to set aside a portion of the money they earn every month to deposit into this account.


3. Have your children help manage household monthly bills. Teach your children about paying monthly bills and balancing a checkbook by having them assist with simple finance tasks. For example they open the monthly phone, electric or cable bill and assist with balancing the family checkbook after these bills are paid. Teach them how to budget by using your family expenses as an example.
 

4. Look for children’s financial literacy programs in your community. Financial literacy programs are often sponsored by local banks, and April is an ideal time to be on the lookout. Also many schools are adding financial literacy components to their

programming. If financial literacy is not being offered in your child’s school, ask the principal if it could be added.

 

5. Open a checking account for your children. High school students often hold part-time jobs, providing a stream of income that can go into both savings and checking accounts. Now is also a good time to discuss the importance recording every deposit and withdrawal to avoid overdraft fees and other unnecessary charges that can come with a checking account. Help high school students set long-term goals by designating how much money to put into savings, with the remaindering going into their checking accounts.

 

6. Teach your older children how to create and stick to a budget. Once your children are close to going off to college, they must learn how to budget, as they will soon be doing so on their own. Sit down  and work together to create a realistic budget, including expenses such as renter’s insurance and other less obvious expenditures. Emphasize the

importance of living on less than one’s income and of avoiding debt. Discuss how to responsibly use credit, look for low interest rates, and avoid late fees and interest payments.

 

Tags:

Tax-Filing Tips, and What You Should Know About Tax Refund Loans

by Admin 3. February 2012 09:11

 

 

It’s that dreaded time of year again: tax-filing season. Throughout January, your employer, bank and other financial entities have supplied you with the documents you’ll need to knock out your 2011 tax return and put the IRS in your rear view mirror for another year.

Before you get started putting all of the numbers in each of the little boxes, or running out to the pop-up tax-preparing business down the street, make sure you follow these tips for a safe, secure and accurate return.

Don’t Get Ripped Off

Tax-filing season is like Christmas for cyber criminals. They often set up dummy websites and send official-looking e-mails, hoping that you’ll fall into their trap. The IRS will never ask for detailed financial information such as PIN numbers, passwords or secret information for credit card, bank or other financial accounts. In fact the IRS never initiates contact with taxpayers via e-mail to request any kind of personal information. Any e-mails that look like they come from the IRS should be forwarded to phishing@irs.gov, then deleted. Do not respond!

Keep More of Your Refund

Many tax preparers offer tax refund loans or other immediate refund programs. Each offer comes with a cost, as the tax preparer takes a percentage of your return off the top for the convenience of getting your refund faster. These offers play upon the assumption that the IRS is slow in issuing returns, but that’s not necessarily the case. Most returns can be accepted by the IRS electronically via the e-file program, which enables your full refund to be deposited directly into your bank account within seven to 14 days.

You Can File for Free

Nearly 70 percent of Americans qualify for free tax filing using software or forms provided by the IRS. If you

earned less than $57,000 in 2011, find out which free options are available to you by visiting www.irs.gov/freefile.

Get IRS Assistance in Spanish

The tax-filing process does not have to be burdensome for Spanish-speaking Americans. The IRS offers resources in Spanish at www.irs.gov/espanol. Assistance in Spanish also is available via phone—to access,

dial 800-829-1040, then press the number 8.

Don’t Forget Your Kids at Tax Time

Having children makes you eligible for many special tax considerations beyond the $1,000 tax credit per child. The money that you spend for someone to take care of your children in order for you to work or look for work (day care, afterschool care, nanny) often is tax-deductible. Also make sure that your tax preparer knows if you have gone through the process of adopting a child in 2011, as many of those expenses can help decrease your tax liability.

Report Those Tips

Although tips might feel like "free money," they are,

in fact, taxable. The IRS is on the lookout for people working in service-industry jobs—where tips are common—who fail to report their tips. Your tax return should include a total of all cash tips you receive directly from customers, or a reasonable estimate of how much you received during the past year. For future years, keep a daily log of your tip income to make sure that you do not over- or underestimate.

Because April 15 falls on a Sunday this year, Uncle Sam has extended the 2012 tax-filing deadline by two days to Tuesday, April 17.

This information is provided with the understanding that the Association is not engaged in rendering specific legal, accounting or other professional services. If specific expert assistance is required, the services of a professional should be sought. Provided as a public service by the Indiana Bankers Association.

Tags:

Money-Saving Tips for the Holidays

by Admin 20. December 2011 05:13

 

The winter holiday season is almost here. Soon we will be busy with holiday activities—cooking, decorating and socializing. We’ll also be shopping for gifts for family and friends, but unfortunately may overspend. Then in the New Year, when the bills start rolling in, reality and regret will strike.

Here are some tips on how you can enjoy the season without inducing an overspending hangover in January.

  1. Make a list of everyone on your gift list. Try to limit it to close family and friends, and set a maximum amount to spend for each recipient. Calculate this total; if too high, revise the individual limits to keep the total reasonable.
  2. If you have overspent already, review the list to see where you may be able to give meaningful gifts without spending. Consider giving personal "coupons" for specific chores—for example lawn mowing, babysitting, cooking a meal or hand car washes.
  3. While some people enjoy the hustle and bustle of shopping malls, you may prefer to stay home and shop online, which saves on travel expense. To maximize the value of virtual shopping, look for free-shipping promotions. Another option is to check with nearby retailers to see if they can save you on shipping costs if your item is shipped to the store, instead of to your home address.
  4. Many people use credit cards for their holiday shopping in order to increase frequent flier miles and other rewards offered by their credit card company. There are benefits to this strategy, but keep in mind that will need to budget for the charges arriving in January; they will need to be paid off to avoid incurring large credit card interest.
  5. You might opt to use cash for Christmas shopping. Decide on an amount for each person, total the amounts, and take cash from your checking account. Divide the cash into your predetermined amounts for each person, and place the cash in envelopes with each person’s name and amount on the envelope. Take these envelopes with you on your shopping excursion. Stick with your list, and when the cash is gone, it’s gone.
  6. With social media outlets such as Twitter and Facebook, you also may be able to find additional money-saving coupons and discounts.
  7. If you have adequate storage space, one of the best times to do your Christmas shopping is in January, when retailers are clearing out their merchandise from the holidays. Along this line, think of shopping for stocking stuffers during the year, as these trinkets can become costly if bought during the holiday rush.

To make the most of your holiday season, sit back and take a moment to enjoy the meaning of the season and the opportunity to gather with family and friends and all those you hold dear. Then take a deep breath, and shop wisely.

This information is provided with the understanding that the Association is not engaged in rendering specific legal, accounting or other professional services. If specific expert assistance is required, the services of a professional should be sought.

Provided as a public service by the Indiana Bankers Association.

 

Tags:

Can Reverse Mortgages Benefit All Americans?

by Admin 27. October 2011 06:32

 

 If you are among the first wave of baby boomers celebrating a birthday this year, or if you are concerned about the well-being of a loved one who has reached the age of 62 or older, you likely have heard about the reverse mortgage as an option in financial planning for retirement. Reverse mortgages are a major topic of conversation for financial planners, home health care professionals and CPAs across the country. In the last 10 years, reverse mortgages have grown into a multibillion dollar industry, with senior homeowners taking out nearly 80,000 such loans during the last fiscal year. Moreover, boomers continue to balloon the size of the over 62 demographic set and will continue to do so until 2030, when all boomers will be age 65 or older.

What is a reverse mortgage? It is a mortgage that allows senior homeowners, age 62 and over, to convert a portion of their home equity into multiple of payment streams without having to sell their home, give up title or take on a new monthly mortgage payment. The reverse mortgage earns its name because the payment stream is “reversed.” Instead of making a monthly mortgage payment to the lender, as with a traditional mortgage, the lender makes payments to the borrower in monthly, lump sum or line-of-credit payments, while the borrower can repay the loan at any time without penalty. Traditionally the loan is not repaid until the house is sold or at the time of the surviving borrower’s death.

But is it a safe option for seniors? The Housing and Economic Recovery Act of 2008 passed by Congress added new standards and requirements, resulting in considerable improvements to the reverse mortgage program. The new provisions greatly benefit senior homeowners who wish to access part of their home equity to help sustain their retirement. Reverse mortgages have a plethora of consumer safeguards and are the only financial product to require independent, HUD-directed counseling. Federal law requires that consumers be thoroughly counseled—prior to loan application—on the pros and cons of reverse mortgages and their competing financial options. It is generally recognized that a reverse mortgage is one of the most consumer-friendly mortgage loans available. Reverse mortgage lenders understand that senior homeowners want to responsibly borrow and stay in their homes. They also appreciate that consumers want to understand their loan documents with complete confidence. Consumer complaints about reverse mortgages are rare, and numerous surveys show that many reverse mortgage borrowers believe this product has improved their lives and provided them the money and security needed for retirement.

While this particular program does not fit the needs of all Americans, having the reverse mortgage option available for those seniors who want to take advantage of it is good for our financial system.

As the U.S. economy comes back full speed, consumers across the country should know that reverse mortgages are a safe, economically appropriate and cost-efficient way to augment their retirement, stay in their homes and live the American dream of homeownership and financial security.

This information is provided with the understanding that the Association is not engaged in rendering specific legal, accounting or other professional services. If expert assistance is required, the services of a professional should be sought.

Written by Scott Norman, immediate past president of the Texas Mortgage Bankers Association and provided as a public service by the Indiana Bankers Association

Tags:

What is Your Consumer IQ?

by Admin 7. September 2011 11:01

At any stage in life, it is important to stay informed about ways to protect your money and your credit. How smart of a consumer are you? Take the quiz below to see how informed you are about consumer issues and scams.

1. You receive an e-mail stating that your bank is updating security measures, and your accounts will be inaccessible until you verify your account information. You should:

a. Provide the requested information immediately.

b. Check for your bank’s logo in the e-mail message and, if it looks familiar, then provide the requested information.

c. Call your bank at a phone number listed on the bank’s website or other public source, and ask if the e-mail is legitimate.

2. You co-sign a loan for a relative. If your relative defaults, can you be held responsible for the debt?

a. Yes, for 100 percent of the debt.

b. Yes, but only for part of the debt.

c. No, as a co-signer you only serve as a reference.

3. You receive a credit card offer that carries a rate lower than your current credit card. By signing up for the card, you will:

a. Probably not save money.

b. Possibly save money.

c. Definitely save money.

4. You are buying a new car and are tempted to lease rather than buy the car. Is leasing a car always the cheapest alternative?

a. Yes, leasing is always less expensive.

b. No, leasing is not a good deal, because you will not own the car.

c. Maybe. You need more information than the monthly payment in order to decide.

5. You are making a major purchase, and the salesman offers “zero percent financing.” You can buy now and pay with no interest charges for a year. Is this option the best way to pay?

a. Read the contract first.

b. Of course. You have nothing to lose but an interest payment.

c. Tell the salesman that it is illegal to lend money without interest.

6. The only time you can obtain a copy of your credit report is when you apply for a loan. True or false?

Answers:

1. C. Call the bank at a number listed either on its website (through your research, not the website included in the e-mail) or from another public source. Do not call any phone numbers or visit any websites provided in the original e-mail. Banks do not ask customers to verify information by e-mail. Con artists trying to steal your identity are adept at creating phony e-mails and websites.

2. A. As a co-signer, you can be held responsible for

100 percent of the amount owed.

3. B. The card with the lower rate might look like a better deal, but it could also be a gimmick. Some new cards offer a lower interest rate for only a limited amount of time, then later replace it with a higher rate. Read all disclosures before signing up.

4. C. You may want to lease, but do not base the decision solely on the monthly payment. There also may be

up-front costs, maintenance and repair costs, penalties and end-of-lease costs.

5. A. Interest offers come with stipulations. There might be interest charges if you are late on one payment or

do not pay the full balance within a specified time frame. Examine all of the terms and penalties before signing.

6. False. You can order a copy of your credit report at any time.* It is a good idea to review your credit report annually to catch mistakes by creditors, and also to make sure that no one is borrowing on your identity.

Tags:

You Can Keep Your Good Credit During This Recession – If You Know the Score

by Admin 7. June 2011 03:10

People are facing tough financial choices these days, but those choices are easier with an understanding of how the credit score system works. Many times credit scores are needlessly lowered through misunderstandings. There are three common misconceptions to dispel:

 

Misconception No. 1: Paying late didn’t hurting my credit, since I’m caught up now.

Recent late payments are credit score killers, and being caught up does not change the fact that you paid late. Anything other than “paid as agreed” on accounts on your credit report hurts your score.

 

Misconception No. 2: Dollar amounts matter in credit scores.

It may seem intuitive to pay the highest bill first, but dollar amounts do not matter in credit scoring; ratios and recency do. A late payment of $1 has the same effect as a $1,000 late payment. The fewer late payments on your credit report, the higher your score—regardless of dollar

amounts. Consumers should try to pay all their bills on time, every time.

 

Misconception No. 3: Closing credit card accounts always helps the score.

If you cancel a card, you may have lost your chance to increase your score by continuing to build on years of positive credit. Long-term positive account history can actually boost your score. It’s best for your score to keep cards open and active, using them for small purchases. The next-best tactic is to keep them open, with a plan to use them later to build your score back up.

 

Don’t make a bad situation worse.

In tough economic times, people often buy more on credit than they normally would. The amount they pay in interest on these purchases is largely determined by credit scores. Poor decisions that lower scores, combined with an already tight budget, can make money problems worse. Consumers need to get through these tough times with as little financial damage as possible.

 

Good credit is an important part of financial security and must be considered when making the best long-term decisions. Having the right information is necessary to make sound choices—now more than ever.

 

Compiled by Eddie Johansson, president of Credit Security Group. Eddie Johansson is national credit score analyst, providing advice to news organizations such as Fox News, ABC Network Radio and to business journals and financial publications. Credit Security Group serves consumers and lending organizations and advises banks, mortgage lenders and their clients on how the system works and how to use this knowledge to improve scores. The company has offices in Dallas, Houston, Longview and Nacogdoches, Texas.

Provided as a public service by the Indiana Bankers Association. This information is provided with the understanding that the Association is not engaged in rendering specific legal, accounting or other professional services. If specific expert assistance is required, the services of a professional should be sought.

Tags: