Archive for June, 2010

10 Credit Score Myths

Posted on June 29, 2010 by Saldutti

The technical definition of a credit score is “is a numerical expression based on a statistical analysis of a person’s credit files, to represent the creditworthiness of that person.”  This magic number can affect everything from your credit card interest rates, to how much you pay on a car loan or mortgage, and even determine whether you get a job. But despite the importance, 4 in 10 Americans never bother to check their credit scores. What’s more, many people have incorrect theories on what influences their score when in actuality, it’s only credit history that matters. Think you know everything…

In the Know: How to Detect Leasing Fraud

Posted on June 23, 2010 by Saldutti

In this age of information and technology, you might expect to learn a new, high-tech formula for detecting fraud. In fact, the same automation that creates a streamlined and efficient process can be one of the contributing factors to leasing fraud. The best ways to detect fraud still involve the simple, back to basics methods that have been proven effective and relied upon for years. In equipment leasing, most fraud occurs when new leases are being originated. Leasing fraud typically involves a fake supplier, a fake asset, or a fake customer. Leasing fraud can range from identity theft of an…

10 Things You Need to Know About Debt

Posted on June 15, 2010 by Saldutti

Despite recent news reports about the less-than-professional antics of some debt collectors, most agencies adhere to the government’s rules and regulations, outlined in the Fair Debt Collection Practices Act (FDCPA).  While there are always a few bad eggs, they should not spoil the bunch.  Collection law firms, such as Saldutti, LLC, invest heavily in employee training to ensure that their specialists are well-versed in the FDCPA.  Robert Saldutti, principal of the firm, lectures throughout the state of New Jersey on this specific topic.  But more and more Americans are falling behind on their house, car and credit card payments.  So…

Creditors Turn to Social Media Sites to Identify Risky Customers

Posted on June 08, 2010 by Saldutti

According to Nielsen Online, 67% of the global online population uses Facebook, Twitter, LinkedIn or a similar social media network to stay in touch with friends, grow their business or just have fun. If you’re among them and your settings are turned to “public,” who you’re talking to and what you’re discussing is available to those wanting to sell their wares — and that includes banks and other credit issuers. Debt collectors have used this technique for a while to gather information about financial delinquents. Now lending institutions are trying to stop customers from even getting to this point by…

30 Mind-Blowing Money Facts

Posted on June 01, 2010 by Saldutti

Do you think you know a lot about money? Maybe you do. Maybe you don’t. But let’s see if any of the following facts, compiled by NicheGeek.com, are in any way surprising to you:  More people fantasize about money… than anything else If we could have any luxury in the world (and money didn’t matter) more of us would choose to spend money on a butler and a maid than anything else. 90% of Americans who own pets buy them Christmas gifts. Money is the leading cause of disagreements in marriages. 65% of Americans would live on a deserted island…