How to Avoid Credit Card Fraud

The first thing you should do to avoid credit card fraud is make sure you do not leave your credit card in any unsafe location.  It’s best to store them in your purse or front pocket so it cannot be easily taken.  Also, only carry what you will be using that specific day, there is no need to unnecessarily increase the probability of something being taken. 

Instead of throwing your bill statements in the garbage, shred all papers that have your CC#.  It is possible for the dumpster carriers to steal your number. 

Never sign blank receipts.  One surefire method to avoid credit card fraud is to validate the amount on your credit card before you sign it.  Write $0 if there are blanks on the receipt.  This prevents a cashier from writing any amount of money and charging it.

Another precaution to take would be, if you are dealing with credit card transfers over the phone, only give information to businesses you have called.  Credit card scammers will try and either call you asking for the number, or leave a message on your answering machine in hopes you will fall into a trap.  Be extra careful and only speak out your number to something you specifically initiated to obtain.

Stay cautious when online.  Scammers are just as prevalent in online websites.  Never click into suspicious e-mail’s of people pretending to be a CC company, bank, or any other business that you give away personal information.  Check to see if your web browser has an anti-phishing feature so you can add another layer of protection.  Phishers come from all over and it can be easy to fall into it if you are not careful.  Any legitimate website will have secure encryption.

         If you lose a credit card, report it ASAP.  If you wait too long, whoever stole your card will have a lot of time to steal your money.  Also, integrity could be lost with your company and you may end up having to pay unjust fraudulent credit card charges.        

         Last but not least, get in the habit of checking your statements each month to ensure you know exactly what is going on.  This will let you react right away if any suspicious charges come up.

Should You Sell Your Structured Insurance Settlement?

The most optimal decision to make before you oblige to a settlement is to see if it’s right for you.  The options of either a lump sum payment, monthly, or even annual payments can arise.  As long as you choose the package that is right for you at the outset, you can increase the price of your settlement and get the best benefits.  Know that companies that purchase structured settlements want to make profit off of your settlement.  They make money from the payments you obtain.  If somehow your injury limits the amount of money you can make, think about what you need in the future when choosing something related to selling your structured settlement.

Prohibitions on Selling Structured Settlements

In about 2/3 of the United States, certain laws are instated that inhibit the sale of structured settlements.  You must anticipate going to court to obtain an approval for your sale, and the majority of the states have statutes, which monitor the process.  A refusal from the annuity providing insurance company in regards to the sale of a settlement could occur.  

Losing Money from Taxes

A structured settlement is designed for the receiver to have tax benefits on their payments.  By selling your structured settlement, you run the risk of losing those benefits.  For example, the periodic payments may not be taxed at all, where as selling for a lump sum of money can mean having taxes taken out, and that can amount to a lot of money lost.

Make Wise Decisions

Don’t always take the first bait when dealing with people who buy structured settlements.  If you are looking to sell, it is usually wise to never take the first offer.  This limits you from offers you might not have ever known about, and nine times out of ten there are MUCH better deals waiting for you.  Also, be sure that who you are selling to is a reputable buyer. 

Talk to an Attorney 

Your best bet is to talk with a lawyer in regards to selling your settlement before you sign any contracts.  The advice of a professional is a primary resource.  Attorneys can protect your rights, and keep you safe from consequences that you may not have known about otherwise.  For example, if the buyer of your settlement cannot collect payments from the annuity dealer of your settlement.  A lawyer will guide you into offers with reasonable terms and agreements, and could also tell you if your offer is good enough.