March 4 – 10

Debt Reduction Services and the Better Business Bureau are joining forces with federal, state, and local government agencies and national organizations to celebrate the 14th annual National Consumer Protection Week (NCPW). During NCPW, organizations share tips and information that help consumers protect their privacy, manage money and debt, avoid identity theft, and avoid frauds and scams.

Thursday, March 8, 2012, Debt Reduction Services will be hosting a “SCAM SMACKDOWN”.

This entertaining and informational event will be led by Beve Bryant, the Outreach Coordinator for the Better Business Bureau.

She will be presenting a behind the scenes peek on the latest top scams, how a scam artist thinks, and how a con artist can trick seniors out of their life savings.

Come learn tips on how to smackdown the bad guys!

DON’T DELAY First 50 registered participants will receive a free RFID shielded wallet.

Many credit/debit cards and id’s have Radio-frequency identification (RFID) chips in them. RFID chips can be read from a distance and even while your wallet is in your purse or pocket. An RFID shielded wallet helps prevent accessing that data.

WHAT: SCAM SMACKDOWN
WHEN: THURSDAY, MARCH 8, 2012 6:30PM – 7:30 PM
WHERE: BROWN MACKIE COLLEGE ROOM #223
9050 W. Overland Road, Boise, ID 83709
HOW: Register by emailing at: events@debtreductionservices.org

For more information, contact: Debt Reduction Services (208) 378-0200 ext 99590

Time is the biggest player in rebuilding your credit after filing for bankruptcy. The further in the past the bankruptcy filing is, the less damage it will cause to your credit score.

To “speed up” the rebuilding process, you will need to have a plan, work hard, and probably accept higher interest rates and fees.

So, unless you’re planning to make a major purchase on credit in the coming three to five years, you may want to consider the long route and just wait it out.

No Brainers!

Check your credit reports for accuracy

• Free at www.AnnualCreditReport.com
• Dispute any inaccuracies

Be a Good Record Keeper

• Keep list of all your debts that were discharged in bankruptcy.

Make ALL credit payments on time EVERY month

• These include mortgage, auto, cards, utilities, loans, club memberships, etc.

Do’s

Below are some suggestions for speeding up the rebuilding of your credit after bankruptcy. Keep in mind that each of these options carries fees and expenses that you may likely avoid if you can be patient and rebuild your credit over time.

Consider a small signature loan

• Check with your credit union or bank
• Make at least the minimum monthly payment, if not quite a bit more.
• Repay the entire balance due once the loan is listed on your credit report (usually after one to three months).

Consider a gas or a store card

• Also look into tire and repair shop credit
• Dental offices may also offer 3^rd-party credit

Consider applying for a secured credit card

• Check with your credit union or bank for this card (secured by a cash deposit) and that you can use as you would a credit card. However, they tend to carry high service, use, and other fees. Just make sure that the card company will report your history to one the credit bureaus.

Utilize your online utilities payments

• If you have a solid on time payment history with your utility companies, you might ask them to report that to the credit bureaus. They generally do not do so automatically, and some may not do it even if requested, but it could provide some additional positive activity on your credit history.

Don’ts

Avoid credit craze

• Don’t apply for a multiple lines of credit in a short period of time.

Don’t get sucked into a used car loan

• Many such offers begin to arrive in your mailbox right after bankruptcy, overcharging for the car and carrying interest rates into the mid-30%.

Avoid expensive alternatives to credit

• Payday loans, title loans, rent-to-owns, pawn loans, and tax refund anticipation loans can destroy your personal finances.

Beware of credit repair agencies

• The FTC warns that no one should offer to remove accurate information from your credit report, even if it’s negative information.

Don’t Blindly Trust the Decree

• Your divorce decree may indicate that you’re responsible for ABC while your ex is responsible for XYZ. But neither creditor ABC nor XYZ is a party to your divorce, nor are they likely to abide by the decree. Contact them directly to work out arrangements.

If you have any suggestions or stories on how you’ve experienced relief from credit cards and other debt feel free to share in the comment section below. Tips, tricks and other suggestions are always welcome!

1-877-OUT-DEBT (688-3328)

www.DebtReductionServices.org

Debt Reduction Services is excited to announce that we are partnering with Sarah Barrand, from www.AThriftyMom.com, to offer free entry to an extreme couponing class that shows you how you can save up to 90% on your grocery bill!

Come learn where to find thrifty deals and how to use coupons to save lots of money by combining coupons with sales ads and product promotions for maximum savings.

Registration is limited to the first 250 responses! Act Now!

Email your name and a guests name to Couponing@DebtReductionServices.org to register for this free class.

You may refer additional guests by emailing them a link to this page so that they may register themselves.

WHAT? - Extreme Couponing Class

WHEN? - Wednesday January 11th, 2012 7:00pm - 8:30pm

WHERE? - Courtyard by Marriott Hotel (1789 S. Eagle Rd. in Meridian)

WHY? - Show you how to keep more of your money and save on your grocery bills!

COST? - Free! (Non-Perishable food item donations accepted but not required)

All collected food items will be donated to the Oasis Food Center in Caldwell, ID and used in their food pantry and children's weekend backpack program.

Remember: Class size is limited to 250! Reserve your spot by emailing you and your guests names to Couponing@DebtReductionServices.org. One Guest per Person.

Resources:

www.athriftymom.com

www.oasiswc.org

www.marriott.com/hotels/travel/boiwm-courtyard-boise-west-meridian

For those of us that live in cooler climates here are a few ideas that might help you save on your monthly heating bill. You can shave quite a bit off of money off of your bill by doing a few or even all of these relatively easy to implement ideas.

• Lower the thermostat setting

If you currently run your thermostat at 72 degrees try lowering it to 69 degrees. Wear a sweater or an additional layer of clothing for extra comfort while you adapt to the cooler setting. By just making a slight change in the setting you can save several dollars per month on your bill.

• Lower the thermostat at night or when you are away

A common misconception about home heating is that it costs more to heat up a home to its regular temperature therefore it is important to keep the home at a regular base heating level rather than turn down the thermostat while away. The fact is that by setting the thermostat down 10 degrees while the home in empty and in the evening while everyone is sleeping can save you a great deal of money on your home heating bill, even with the need to ‘reheat’ the house regularly when you come home. For every $100.00 spent on heating you can possibly save $15.00 by following this single step.

• Check for drafty areas and repair

Bad weather stripping can let cold air in and increase your heating needs. If you find cracked or worn weather stripping make sure to replace it.

• Heating unoccupied rooms

Check the heater vents in rooms that you are not using. You may want to consider closing them and sealing the room off so more of the heat you are using is going to rooms that are occupied.

By following these tips you may save money but another benefit of paying close attention to your energy efficiency is that it can also lead to money savings efficiency in other aspects of your life.

If you have any questions, would like to discuss your financial challenges, or are just looking for advice, please call us at your convenience. As always, we are here to help and look forward to hearing from you.

www.DebtReductionServices.org

1-877-688-3328

Article Written By: Rick Munster

Where did the year go? Thanksgiving is just a few days away and we wanted to take a moment and remind everyone of our hours of operation around the Holidays this year. We hope everyone has an excellent time and we want you all to know we are thankful that we have the opportunity to help such amazing clients such as yourselves.

Thanksgiving Hours of Operations:

• Wednesday November 23^rd – Open 8:00 AM to 12:00 PM
• Thursday November 24^th – Closed
• Friday November 25^th – Closed
• Saturday November 26^th – Closed

Christmas Hours of Operations:

• Friday December 23rd – Open 8:00 AM to 12:00 PM
• Saturday December 24th – Closed
• Monday December 26th – Closed (observed)

New Years Hours of Operations:

• Saturday December 31^st – Closed
• Monday January 2^nd – Closed (observed)

If you need are a client and need to contact us be sure to leave a voice mail for your Customer Service Team and we will return your call as soon as we can.

If you are new to our site and would like to know more about us please call us and leave a message at 1-877-688-3328 or you may fill out an application (Apply Now Page) and one of our Certified Credit Counselors will be in touch.

Black Friday can present some excellent savings opportunities if you are able to save enough money to make your holiday shopping a ‘cash only’ experience. Otherwise if you rely on credit cards to make your purchases things can add up quickly and when the last purchase is made you could be facing months of payments to get caught back up.

Here is a reminder of a few tips we feel will help you budget a “cash only” Holiday season:

• Begin saving now for Christmas shopping and Holiday activities. Starting in July would be ideal, but now is better than later.
• Create a list of people you would like to give gifts to and assign each person a dollar amount.
• Shop early, before the Holiday rush. Shopping early allows more opportunities to find deals.
• Make any Holiday travel arrangements early. Be flexible on dates and times you are willing to travel.
• Think outside of the box for gift ideas like a free night of babysitting or one house cleaning.
• Stick to your budget.
• Cut costs when planning family outings. Attend concerts and activities provided by the community. (Some are free).

Remember, the goal is to avoid using credit at all costs. That includes applying for new lines of credit, small loans, or credit cards. Definitely avoid pay day loans to help you make holiday purchases as the backlash can have tough consequences. By going “cash only” you can stop the overspending trend and begin your New Year on a positive note.

If you have any questions, would like to discuss your financial challenges, or are just looking for advice, please contact us at your convenience. As always, we are here to help you and look forward to hearing from you.

1-877-OUT-DEBT (688-3328)

www.DebtReductionServices.org

EARLY CHILDHOOD MONEY MANAGEMENT LESSONS

• Let your child see you managing your money. Instead of barricading yourself in your bedroom or den to budget or balance your checkbook, let your child observe you working on these important financial tools at the kitchen table or in the living room. If they see it’s important to you on a regular basis, it will likely be more important to them as they grow older.

• Introduce the concept of money early on. It’s easy for a young child to think that money “grows on trees.” Use easy-to-understand examples or find some children’s books from a local library that address money and budgeting. One possibility is the Berenstain Bears Trouble with Money.

• Discuss the difference between needs and wants. Our basic physical needs are 1) Food & Water, 2) Shelter & Security, and 3) Protective Clothing. Demonstrate the difference between needs and wants and encourage your child to save money for things they want to purchase.

• Allow your child to begin managing a small amount of their own money. Whether you set up a weekly allowance, reward them for doing household chores, or mix the two methods, let them make decisions about what to do with their money. Start with a small denomination each week and increase it as your child’s responsibility level grows. Consider running your own “Family 401k” by matching every dollar they choose to place into a savings account with a dollar or two of your own. If you choose to use only the reward-for-chore method, be prepared for the time when your child decides they would rather go without any money that week than having to do their chores.

MIDDLE CHILDHOOD MONEY MANAGEMENT LESSONS

• Set up a bank account. Check out your local bank or credit union for programs they may offer for kids. Show your child how to make deposits and withdrawals and to keep a record of these transactions. When you receive the bank statement, go over it together and see how it measures up with what was personally recorded.

• Once they’ve begun to develop some abstract thinking capabilities (between 8 and 10 or so), include your child to one extent or another in family budgeting decisions such as family vacations, entertainment, or shopping for clothing. Real world situations can help them decide whether it’s more important to buy one expensive outfit or several discounted outfits that will last the entire school year.

• Provide them with part-time job opportunities. By the time your child reaches high school, they might want to consider getting a part-time job. This is also a good time to go over taxes and other deductions with them, especially after their shock at seeing what’s left of their first paycheck.

ADOLESCENT MONEY MANAGEMENT LESSONS

• Prepare for future use of credit. Don’t provide your child with their own credit card just so they can build credit. Until they are a few years away from making major purchases requiring good credit to get lower interest rates, they do not NEED to build their credit. In the mean time, they can build healthy credit habits by paying on time any bills they incur (cell phones, music clubs, etc.). Explain the damaging effect on their finances of bouncing checks.

• Establish long-term goals. Work together to create a strategy for meeting long-term goals, such as saving for a car, a school trip, or even buying a home 10 years down the road.

• Rather than doing their clothing shopping for them, give them a monthly clothing stipend. You must be ready to say “no” at the end of the first month when they come to you and explain how they spent it all on one pair of brand name shoes and now do not have sufficient for a new pair of pants. They must learn that money is an “exhaustible” resource and that they will need to pace (budget) their spending in the future. Remind them that they will also be responsible for doing their own back-to-school shopping next year and should plan to save a portion of each monthly stipend if they want to purchase several new outfits at that time.

If you have any suggestions or stories on how you’ve experienced relief from credit cards and other debt feel free to share in the comment section below. Tips, tricks and other suggestions are always welcome!

1-877-OUT-DEBT (688-3328)

www.DebtReductionServices.org

How do you feel about being charged a fee to continue using your debit card?

In case you haven’t had the chance to read about the potentially new banking fees here are a few links to news article discussing the topic.

Debit card fees are coming: How to avoid them – ABC NEWS

Debt Reduction Services Supports Our Troops

Free Military Credit Counseling

New Program Announcement:

Debt Reduction Services Inc., a nonprofit credit counseling organization, supports America’s Service Men and Women. We sincerely express our gratitude for their efforts and commitment to providing a safer world for all.

As a token of gratitude we would like to offer any active Military member, regardless of Branch or Services rendered our services at no cost.

All we ask to verify Military status is a current copy of an active Military Identification card. The offer is currently extended to active duty / enlisted personnel only and may expand in the future. Identification cards can be verified in office, or copies may be faxed or scanned and emailed to us.

We will take care of the rest. You will be in great hands from the very beginning of the consultation process. Our Credit Counselors are 3rd party certified as required by our nonprofit organization status.

Debt Reduction Services Inc., was founded on the principal of exceptional customer service and the belief that our Clients and their well being are paramount to our mutual success. We have developed our business model to the utmost of Customer Care standards.

The Enrollment Fee is waived (value of up to $75.00) as well as our monthly maintenance fee.

The savings to our Military clients by waiving all of our fees will average $800 over the life of the program. In some cases the savings may be substantially more.

Again, we want to say thank you for your ongoing efforts.

When it comes to credit scores (also generically referred to as a credit rating), most Americans know that they are important and that they can have a major impact on our financial lives. However, very few know what goes into a credit score or just how influential it can be.

First of all, the term, “credit score” does NOT refer to a SINGLE scoring system. In the US, there are over a thousand credit scoring models in existence, created and used by hundreds of creditors and consumer reporting agencies. However, the most common credit scoring model (used in about 80% of all credit-based decisions) was developed by Fair Isaac Corporation (FICO for short).

Founded back in 1956 by Bill Fair and Earl Isaac, FICO manages products that help creditors to predict the rate at which an individual will default on a loan. An individual’s FICO score does not determine how much money he or she may borrow.

Rather, it provides a numeric rating of the risk to the creditor that the borrower is. The score ranges from 300 (extreme risk) to 850 (very low risk). Consider that most consumers with scores below 750 will end up paying higher interest rates than those who have worked to keep their scores above 750.

The score is based solely upon the information included in the individual’s credit report (see previous page).
The five most important factors in a FICO score are as follows:

1. Payment History: This section considers your pattern of on-time and/or late payments. The more recent the activity the more influential the activity is, i.e. a pattern of recent on-time payments is more important influential than late payments from 5 years ago.

2. Balance-to-Limit Ratio: This section compares your current debt balances to your potential debt (limits) at a card-by-card and an aggregate level. This is also called “Usage.”

3. Length of Credit: This section considers how old the accounts are that are listed on your report, both on an individual level and aoverall average.

4. Pursuit of New Credit (Inquiries): This portion considers how much new credit you have recently applied for. If you apply for more than a couple lines of credit each year, the credit scoring model essentially wonders why you’re needing so much credit.

5. Credit Mix (Types of Credit): This section takes into consideration the variety of credit lines you have opened and/or used recently, including credit cards, retail store cards, mortgage loans, auto and other installment loans, consumer finance accounts, etc.

If you have any suggestions or stories on how you’ve experienced relief from credit cards and other debt feel free to share in the comment section below. Tips, tricks and other suggestions are always welcome!

1-877-OUT-DEBT (688-3328)

www.DebtReductionServices.org