Financial Resources
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.
Credit unions:
- National Credit Union Administration – Customer Line – 703-518-6330
- Credit Union National Association
Federal banking:
- FDIC Office of the Ombudsman – 800-250-9286
550 17th St, NW
Washington, DC 20429
e-mail: [email protected] - 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: [email protected]. - Office of the Comptroller of the Currency – Customer Assistance Group – 800-613-6743
1301 McKinney Street, Suite 3710
Houston, Texas 77010
Savings bonds:
- U. S. Savings Bond Information – 800-487-2663
- savingsbonds.gov – Use for info & on-line purchases.
- ustreas.gov – Get value of savings bonds.
- Savings Bond Inquiry Center – 304-480-6112
To find info about US Savings Bonds or if you have lost a savings bond.
Bankruptcy:
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 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. - Credit Union National Association, Inc. – 800-356-9655
Miscellaneous:
- Privacyrights.org – Identity theft resources
- Fairisaac.com – Credit score information
- Debtors Anonymous – 770-662-6060
Credit card rankings and rates:
- CardWeb.com – CardWeb/CardTrak
Best deals on credit cards.
To opt out of offers of credit card offers:
- For all three bureaus, call 888-567-8688.
This establishes a two-year opt-out.
For permanent opt-out status, put your request in writing.
Investing / Investments/Accountants & Financial Planners:
- Institute of Certified Financial Planners Membership Organization – 800-282-7526
- International Association for Financial Planners 800-945-4237
- National Association of Investors Corporation
- National Association of Personal Financial Advisors (NAPFA)– 888-FEE-ONLY (888-333-6659)
- -For the names of true fee-only financial planners, financial planner interview form, & tips on selecting financial planners
- Certified Financial Planner Board of Standards – 888-CFP-MARK
- Find out if a planner is licensed as a CFP, status of license, and check on disciplinary action
- 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 - National Association of Securities Dealers – 800-289-9999
Investment Advice & Information:
- 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. - Ragingbull.com – Stock recap
- Rothira.com – start a Roth
- Vanguard.com – investment info
- Publicdebt.treas.gov – bond and treasury info
- NMoneybulletin.com – ‘Money Matters’ Web site
Investment fraud:
- National Fraud Information Center 800-876-7060
- National Association of Securities Dealers – 800-289-9999
- 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.
For advice about what types of companies to avoid and what information to expect from companies in which you plan to invest. - National Fraud Information Center – 800-876-7060
Provides information about areas such as bogus telemarketing, slamming and mail offers, including investment frauds.
Government regulations:
- Securities and Exchange Commission (SEC)
Regulates the public offer & sales of securities nationwide - North American Securities Administrators Association – securities fraud protection
Tools:
- Calcbuilder.com – financial calculator
Retirement & Pension protection:
- Pension Benefit Guaranty Corporation – Find out about unclaimed pension benefits
- Employee Benefits Security Administration – Ensures responsible management of 679,000 private pension plans and 2.5 million private health plans.
Taxes/Electronic filing:
Other related sites:
- Internal Revenue Service-IRS – 800-829-1040
For information and inquiries
Tax counseling:
Record keeping:
- Cancelled Checks – 7 years
- Bank Deposit Slips – 7 years
- Bank Statements – 7 years
- Tax Returns – Forever
- Employment Tax Returns – 7 years
- Expense Reports – 7 years
- Entertainment Records – 7 years
- Financial Statements – Forever
- Contracts – Forever
- Minutes of Meetings – Life of Company plus 7 years
- Corporate Stock Records – Forever
- Employee Records – Period of Employment plus 7 years
- Depreciation Schedules – Life of Business plus 7 years
- Real Estate Records – Forever
- Journal & General Ledger Life of Business plus 7 years
- Inventory Records 7 years
- Home Improvement Records Ownership period plus 7 years
- Investment Records Ownership period plus 7 years
Tax deductions:
- Salvationarmy.org – tax deduction help
