Archive for February, 2012

The Generational Gap on Debt

Posted on February 29, 2012 by Saldutti

The latest credit trends study from Experian shows that baby boomers are strong and steady in their pursuit of the American dream, while the Gen Y’ers are starting to make their way by building credit with their student loan and auto loan payments. Generation X has the highest amount of debt in the study and second to lowest credit scores, while the Greatest Generation is reducing their overall debt and has the highest credit scores of all of the generations. Findings from the study showcase the types of debts Americans have, the amounts they owe and the differences between the…

Student Loan Debt: The Next Economic Crisis?

Posted on February 28, 2012 by Saldutti

Taking bets as to what the next financial crisis is going to be that plunges us back into a deep recession? The San Franscico Chronicle wants to suggest a nominee:  Student Loan Debt. “The new warning making its way through the financial media is the rising student loan burden,” Tim Parker writes.  Some bullet points of Parker’s thesis follow: College remains the accepted path for 68.1% of high school graduates The average student loan debt for a college student in 2010 was $25,250 Total student-loan borrowing for one year surpassed the $100 billion mark in 2010, making the total outstanding…

Student Savvy: Using Your Credit Card Wisely

Posted on February 24, 2012 by Saldutti

First things first, don’t sign up for every credit card that the companies send you. Their job is to figure out what advertisements and strategies used will get your attention. They spend millions of dollars a year just in their marketing departments. A big attention grabber for students is free stuff. Everyone loves a free t-shirt or calculator, but is it worth ruining your credit score for life? There are so many different credit card companies competing for your business – you do not have to settle for a card that doesn’t have the features you were looking for. Although some…

What has the Collection Industry Done Lately?

Posted on February 21, 2012 by Saldutti

A new report proves what debt collection professionals have known all along: Our industry makes a difference to the economy!  Ernst & Young recently put out a study outlining the impact of 3rd party collection agencies on the U.S. economy in 2010. The report shines a bright light on the debt collection industry – something that is often overlooked in our media.  Because of a very few non-compliant agencies, it is easy for consumer groups to pick on our industry. However, studies like this one help build the argument for our positive impact on the economy, both nationally and locally….

American’s Love Affair with Candy

Posted on February 16, 2012 by Saldutti

Even though the economy has been slow the past few years, the National Confectioners Association says Americans spent over $700 million on chocolate this Valentine’s Day ($1.5 billion on total candy purchases).  Candy has become an integral part of our holiday celebrations – Valentine’s Day, Easter, Halloween and Christmas.  There are still places where a trip to the candy store doesn’t mean grabbing a Snickers in Target’s candy aisle or selecting a Twix at the grocery store checkout.  These regional confections are a souvenir worth writing home about.  There is no sweeter way to sample local ingredients than via local…

Valentine’s Day Spending to Top $17B

Posted on February 14, 2012 by Saldutti

Consumers this year are planning to open their wallets for Valentine’s Day.  According to the National Retail Federation’s (NRF) 2012 Valentine’s Day Consumer Intentions and Actions survey, the average person celebrating the holiday will shell out $126.03, up 8.5% over last year’s $116.21 and the highest in the survey’s 10-year history. Total spending is expected to reach $17.6 billion. “It’s encouraging that consumers are still exhibiting the desire to spend on discretionary gift items, a strong indication our economy continues to move in the right direction,” said Matthew Shay, NRF president and CEO. Consumers’ “better halves” will shell out the…

Valentine’s Day Scams To Avoid

Posted on February 10, 2012 by Saldutti

During the holiday seasons, some people try to take advantage of others by creating scams and tactics to victimized unsuspecting consumers. According to Building Credit for Students, the most likely to fall for these scams are students and the younger generations. The best thing you can do to protect yourself is to be aware of their tactics and be on alert. Electronic Greeting Card Scams: Valentine’s Day greeting cards are conventional gifts sent out to friends and family to show them that you care. Through the evolution of the internet, you can send e-cards through websites or your email to friends or…

Here We Grow Again …

Posted on February 09, 2012 by Saldutti

Over the last year, we have experienced tremendous growth and have expanded our team yet again. Saldutti, LLC is proud to introduce four new members of our growing firm, Chris D’Amore, an associate attorney, Franklin Davis and John Fratantoro, who are litigation collectors, and Erin Hart, who works in litigation support. All of our new employees will bring valuable experience and new outlooks to the firm.  Chris D’Amore is a magna cum laude graduate of The College of New Jersey located in Ewing, NJ. Afterwards, Chris furthered his education at Rutgers University School of Law.  While at Rutgers, he served…

5 Simple Steps to File Your Taxes

Posted on February 07, 2012 by Saldutti

Does the thought of tax season make you break out in hives? Fear no more!  Dave Ramsey, a syndicated radio host and author of best-selling books, Financial Peace and Total Money Makeover, has created this easy, step-by-step guide to help you prepare for taxes without even breaking a sweat!  Preparing for taxes can actually be a simple, no-stress process if you do a little work on the front end. All it takes is some organization and time. Step 1: Gather Documents – To get started, you need to collect all of your tax documents. This includes your W-2s, 1099s, mortgage…