Scammers thrive on fear. Why? Fear creates confusion which results in hasty decisions that can prove disastrous. Unfortunately, senior citizens are often the most targeted victims of scams. Merciless scammers capitalize on instilling fear in their victims by warning of threat of financial or legal ruin—and they may offer quick fixes if you ‘simply send them money or personal information.’ Familiarize yourself with the following phrases commonly used by scammers:
If you are a small business owner, you’ll be sure to benefit from the recent extension of the Section 179 expense deduction.
So you’ve gone through the trouble of getting a judgment against someone who owes you money for whatever reason: because you’ve loaned money that wasn’t repaid, because a poor job was done in constructing the addition on your home or because you were caused injury and there was no insurance to cover it. Your troubles are over right? Think again.
Late life divorce (‘silver’ or ‘gray’ divorce) is becoming more common and more acceptable in society. According to the National Center for Family and Marriage Research at Bowling Green University, in 2014 people age 50 and above were twice as likely to go through a divorce than in 1990. The increase was even higher for those over 65, while at the same time divorce rates have plateaued or dropped among other age groups. Here are some reasons late life divorce is becoming more common:
If you have recently or are currently in the process of filing for bankruptcy, be on alert. There has been a phone scam circulating where individuals pose as attorneys to get their intended victims to wire money immediately to satisfy debts. These scammers lift personal information from the paperwork used in bankruptcy filings.
The phone call from a debt collector never comes at a good time—but the best response is to confront the state of these affairs head-on. You may want to hide or ignore the situation and hope it goes away–but that can make things worse. Depending on your personal situation, there may be different steps to take.
On December 19, 2014, the Achieving a Better Life Experience (ABLE) Act of 2013 was passed. The ABLE Act amends Section 529 of the Internal Revenue Service Code to create tax-free savings accounts for individuals with disabilities in order to cover qualified disability expenses such as education, housing and transportation. New York State also recognizes ABLE Act 529A Accounts.
It’s easy to be fascinated by the tempting advertising of infomercials. Taglines such as ‘Miracle Cure!’ and ‘Only $19.95!’ may make you feel that it would be foolish not to buy. While there are many reputable products out there, there are equally as many health scams that cancel out the positives of the attractive media presentation. Spotting a scam called ‘health fraud’ can be done just be paying attention to the words used in the advertisement.
On June 26, 2015 the Supreme Court of the United States (SCOTUS) legalized same-sex marriage nationwide. In New York, same-sex couples were granted the freedom to marry in 2011. It’s important to know what rights were granted under the Marriage Equality Act—especially now that marriage equality is the law of the land.
Banks, credit card companies and other businesses use credit scores to estimate how likely you are to pay back money you borrow. A higher score makes it easier to qualify for a loan or lower interest rates. Many scores range from 300-850 but each company may use different ranges.