Online shopping has grown at a massive rate over the last decade, to the extent where more money is now regularly spent on the internet than is spent on the high street. Unfortunately, internet shopping presents all sorts of dangers, and there are lots of people out there who are looking to take advantage of unwary customers.

If you have a credit card, however, you are protected to a certain extent. Every credit card on the market, from big ones like Santander credit cards all the way down to small, specialist providers are covered by the Consumer Credit Act, which essentially means that you are not liable for losses resulting from internet fraud, unless you have acted fraudulently or negligently yourself.

That said, sometimes it can be hard to define negligence, particularly if you haven’t taken steps to protect yourself. The first thing that you need to do is make sure that all your passwords are secure, don’t write them down, and try to use different passwords for different sites (although this can get hugely complicated).

Another important thing to do is only work with reputable companies and websites, if a deal looks too good to be true over something like Gumtree, then it probably is – and never, ever give out your details over the internet. Your bank will never ask you for PIN codes online, so watch out for phishing emails.

Another good idea is to get some really good, up-to-date antivirus and spyware software. There are some good free services out there, but don’t balk at paying a little bit of money for really good protection. The majority of internet fraud doesn’t actually occur with the selling company, instead people conduct transactions unaware that they have a virus on their computer already which may be scooping up your information.

Nonetheless, even the best anti-viral software is no 100% perfect, so you do need to make sure that you take other steps. One thing to look for is the secure symbol on your browser, or the web address starting with https rather than http. Secure websites are exactly that, and offer you an extra layer of protection.

Should the worse happen, your options become rather limited. You should report any suspected breaches of security immediately, and immediately freeze or close any accounts that might be affected. Notify your bank, and the credit rating companies to ensure that you don’t experience any negative repercussions in the future, and most importantly of all, be careful.

Image: Grant Cochrane / FreeDigitalPhotos.net

When you owe money to another person or organisation and you fall behind on the payments, they may decide to apply for court order against you. When you receive the court order, it is important that you do not ignore it, as an escalation could result in a County Court Judgement (CCJ) being awarded against your name. A court order will usually set a date by which you will be expected to have repaid your debt (in part or in full) and to whom you are expected to pay the amount (usually your creditor or their representative). In the case of a CCJ, if you do not pay-off the full balance within one month of receiving the order to do so, the judgement will stay on your file for 6 years.

Having a CCJ against you will make it very difficult for you to obtain important credit services, such as mortgages, credit cards, loans and home insurance. Ignoring a CCJ is the worst thing you can possibly do, as such action (or lack thereof) will probably do further damage to your credit record. Failure to meet payment deadlines is likely to result in your creditor returning to court to seek an enforcement order, where bailiffs are likely to be appointed to visit you at your home or place of business. Should you meet the one month payment deadline, your CCJ will be removed from the register. If you pay off the total balance after the one month deadline then the CCJ will stay on the register, but will be recorded as “satisfied”. Non-payment causes the CCJ to be recorded as “unsatisfied”.

Suffering a change of circumstance that leaves you unable to meet the terms set out in your CCJ will not automatically excuse you from your obligation to pay. Instead you will need to apply to change the terms at the County Court before you fall behind with your repayments. If you do not take action to change the terms, you will be at risk of losing your possessions and (in worst case scenarios) you may even lose your home. Evidence will need to be provided to support your application to change terms, proving your reduced income and demonstrating your expenditure on necessaries. If you state a figure that you can afford to pay and the other party agrees, then you must continue making payments at the reduced amount. If you cannot come to terms with your creditor, then the court will decide how much you should pay based on the information you have given them.

If, after having your CCJ terms changed, you find that you are still unable to meet the payments, then it is vital that you return to court as soon as possible. At this point another meeting between your creditor, yourself and a judge will be arranged to discuss what you will reasonably be able to afford. Applications for changes to terms may require you to fill out more forms and paperwork, and you are likely to incur additional court fees, but these are necessary evils if you want to minimise the repercussions. You may also be able to ask the court to freeze your CCJ until such a time as you can afford to repay it, though this will depend entirely on your situation and is decided at the judge’s discretion.

Getting specialist home insurance with a record of CCJs can be difficult, but it is not impossible. Many mainstream insurers are known to have declined home insurance for people with CCJs, but if you try to get it without informing your insurer of your CCJs then you are likely to have your home insurance claim rejected should you need to make one down the line. There are a small number of insurers who specialise in providing non-standard home insurance to people in difficult situations. You might need to do a little more research to find them, but it is worth the effort when compared to the alternative of going without insurance altogether.

INDEPENDENT ID FRAUD EXPERT AVAILABLE TO COMMENT

ON ID FRAUD RISKS FOLLOWING SONY PLAYSTATION HACKER ALERT

www.equifax.co.uk

London, 27^th April 2011 – Chris Sherlock, Marketing Director of ID Fraud expert, Equifax, is available to provide expert comment on ID fraud and theft issues following the news that Sony has warned users of its PlayStation
Network that their personal information, including credit card details, may have been stolen.

Chris Sherlock, who is responsible for Equifax’s direct-to-consumer services which help individuals monitor for any signs of ID fraud and theft, can comment on the potential risks as a result of this security breach and provide advice if someone thinks they have been a victim of ID fraud.

“Fraudsters only need three items of personal information to be able to steal an individual’s identity” said Chris Sherlock.  “Sony is stating on its official Playstation blog that it believes the name, address, country, email address, date of birth and PlayStation
login and passwords of users have been stolen.  It is also saying that whilst there’s no evidence that credit card data has been taken, it can’t be ruled out.  So Playstation users do need to be alert to the potential threat to their identity and certainly should make sure they’re not using the same PINs and passwords for other online activities.”

In a survey conducted by Equifax*, 32% claimed they use just 1 to 3 PIN codes for all of their debit or credit cards and online accounts.  That means that if a fraudster gets hold of this limited amount of PINs, they could potentially gain access to all of an individual’s finances.  “In the same Equifax survey, 76% confirmed they use their Mother’s maiden name as a password or prompt.  Equifax therefore encourages consumers to avoid doing this as it is quite easy for fraudsters to work out, especially those who know their victim.

EQUIFAX TIPS TO PROTECT AGAINST ID FRAUD ONLINE

• Make sure your computer is protected with the latest virus protection that ideally updates hourly and you that you have a Firewall
  • Check the website address that you are shopping on starts with https:// not http://
  • Check there is a registered address and a landline number on the website
  • Before putting in any of your card details, ensure there is a padlock showing at the bottom of the screen
  • Do not use the same PIN number for all of your cards, and the same passwords for your email accounts.
  • If you are using a public computer ensure people can’t view your details and log out of the site, rather than just closing the window
  • Take note or print out of your receipt/reference details
  • Keep note of all of the online transactions you have made and check your bank statements for any unusual transactions
• No matter how much you trust your friends, work colleagues, do not give out your PIN number under any circumstances

Equifax also recommends that consumers regularly monitor their credit report to be able to identify if any unauthorised activity occurs that might be signs of a fraudster at work.

Tackling the threat of identity theft and fraud, Equifax Identity Watch Pro gives consumers unlimited instant, easy online access to their latest credit file, with automatic alerts within 24 hours of key changes to their credit report.  It costs £7.50 per month.  Or for just £2.99 per month, Equifax Identity Watch Lite makes monitoring a credit report easy by automatically alerting the individual within seven days of key changes.

*Equifax Identity Fraud Survey of 939 Consumers, June 2010

The mis-selling of loans, (homeowner, car loans and credit card), and the insurance sold alongside them, known as PPI is one of the biggest rip-offs carried out by banks

Around 50% of the 20 million PPI (Payment Protection Insurance) policies sold in the UK were mis-sold. In many cases, people were pressured into buying PPI, being told it was a condition of getting the loan. In others, policies turned out not to be worth the paper they were written on when the time came to claim.

The good news is there is a very high success rate for those making claims against lenders/ banks. Fines of more than £22 million were levied against Lenders, for mis-selling, in 2008. Although customers are able to make independent claims for refunds, most are reluctant to take on these mega-institutions on their own.

This is where First Refunds come in. They are regulated by the Ministry of Justice, which officially enables them to manage claims on behalf of these people. The majority of cases are clear-cut. Where there is any doubt, First Refund have the authority to obtain all data on the sale of the loan / PPI including all recordings of telephone calls made between the lender and customer.

For this service First Refund charge absolutely nothing until the claim is successful, and at this point their fee is 25% of the monies reclaimed. The process takes on average 8 – 12 weeks. Occasionally, when a settlement cannot be reached, a case is referred to the Financial Ombudsman to make a judgement. Although this process can take longer it is usually successful for the claimant (the success rate currently stands at 90%+).

Most of their claims fall under two categories:

1) PPI mis-selling
This is the mis-selling of single premium insurance policies sold alongside car loans, homeowner loans and credit cards, usually taken out to cover the loan premiums should the customer not be able to keep up payments– due to redundancy, illness, etc. There are as many as twelve reasons constitutes mis-selling, with the two most common being

• the customer was pressured into taking it, and
• the term of the PPI is different to the term of the loan.

PPI is considered ‘mis-sold’ if the lender or broker was guilty of just one of the twelve misdemeanours, (a full list is on the web-site www.FirstRefunds.com). PPI refunds are up to 20% of the value of the entire loan.

The sale of PPI is such a scam, that it has now been banned by the FSA.

2) Undeclared Broker Commissions.
Unless the financial broker declares to the borrower exactly how much they received in commission on the sale of a loan, the whole commission is reclaimable under established UK case law. This is further strengthened if the broker also charged a separate broker fee. Millions of broker commissions are undeclared and many of the big banks are making provision to pay back up to 15% of the value of the loans they gave out.

Click the link today to find out more, and to start claiming back monies that you may be entitled to!

As mentioned in a previous post, one way of improving your credit score if you have had a period of bad credit is to get a credit card.

Now, this is easier said than done – especially if your score is still bad. If you are not sure what your credit score is, then check it for free.

Once you have been approved for a card then the quickest way to rebuild your credit rating is to put your petrol or monthly shopping on there, and then pay it off in full at the end of the month before the interest gets added – just make sure you set up a direct debit so you don’t forget, and get landed with a late repayment charge, and lowering your score.

Vanquis Bank’s products serve customers ranging from those who have had credit problems in the past, to those completely new to credit, are self-employed or have a low income.
Their aim is to provide a range of credit cards that give you the options you deserve.

Their Visa card that offers all of these great benefits:

* No annual fee
* Up to 56 days interest free on purchases
* Additional cardholder/ free fraud monitoring at no additional cost – we’ll warn customers of any suspicious activity on their account
* Chip PIN technology for added security whenever a Vanquis card is used
* Visa is widely accepted in the UK and abroad
* Offers convenience for paying online and over the phone
* A friendly and dedicated UK customer call centre
* As a provider that is specifically geared towards servicing customers with previous credit problems or little or no credit history our higher APR’s reflect the additional business risk posed by this area of the consumer market.

Apply for a Vanquis Credit Credit and start to rebuild your credit rating.

Please Note: this does not imply that they are able to approve applications from customers irrespective of their present or previous circumstances. Vanquis have stringent and specific criteria that potential new customers must meet in order to be accepted, as well as applying all relevant money laundering and other regulatory validation tests to any new applications.

Answer these questions truthfully:

1.)    Does your spouse or partner complain that you spend too much money?

2.)    Are you surprised each month when your credit card bill arrives at how much more you charged than you thought you had?

3.)    Do you have more shoes and clothes in your closet than you could ever possibly wear?

4.)    Do you own every new gadget before it has time to collect dust on a retailer’s shelf?

5.)    Do you buy things you didn’t know you wanted until you saw them on display in a store?

If you answered “yes” to any two of the above questions, you are an impulse spender and indulge yourself in retail therapy.

This is not a good thing. It will prevent you from saving for the important things like a house, a new car, a vacation or retirement. You must set some financial goals and resist spending money on items that really don’t matter in the long run.

Impulse spending will not only put a strain on your finances but your relationships, as well. To overcome the problem, the first thing to do is learn to separate your needs from your wants.

Advertisers blitz us hawking their products at us 24/7. The trick is to give yourself a cooling-off period before you buy anything that you have not planned for.

When you go shopping, make a list and take only enough cash to pay for what you have planned to buy. Leave your credit cards at home.

If you see something you think you really need, give yourself two weeks to decide if it is really something you need or something you can easily do without. By following this simple solution, you will mend your financial fences and your relationships.

About the Author:
Kaitlyn Jones, a well experienced copywriter and has plenty of thoughts on internet marketing.

There are several reasons that people may look to refinance home loans. Probably the most common is to take advantage of lowered interest rates. Some of the other reasons people refinance home loans is to pay off high priced credit cards, make home improvements, and rebuild credit rating that has taken a turn for the worse.

What is involved when borrowers look to refinance home loans? When you refinance you normally just pay off the old mortgage and sign a new mortgage. Now this will also mean most of the same costs you had when you signed the original mortgage. Depending upon your State or the terms of your mortgage you may pay a penalty for paying the note off early.

Individuals who refinance home loans look at several things before doing so. Look for a company that may be willing to waive the normal fees. These include such things as an application fee, legal fees and appraisal fees. This are all normally associated with closing fees on a new mortgage. This could save thousands of dollars. It would give you a higher monthly payment but this could be still acceptable with a small rate decrease.
How long do you plan on staying in your home? If the answer is just a few months the monthly savings may not have time to catch up to the costs involved if you were not able to secure a loan from a company who will refinance home loans but will not waive fees involved. What are the new rates? As a rule try and find a rate that is minimum 2 points below your current mortgage rate.

Some who refinance home loans do so with the intention of building equity in their home faster. Now with this type of loan your month cost will be higher even with a lower rate. The benefit is you build equity faster and pay less interest over the length of the mortgage. If you wanted to refinance a 30 year mortgage to a 15 but the cost was to high you may want to check about a 20 year mortgage to still be able to take advantage of the lower rates.

The last important point to remember with companies who refinance home loans. Try and get a guarantee on the rate so that it is locked in during closing. This will keep the rate the same even if it should go up prior to your closing. You could even try and see if they will agree to a rate decrease if that should occur before closing. The refinance of home loans is competitive enough that if a company will not do either of those option. You may want to check with another company. The ultimate goal is to reduce your payments or to increase the equity of your home in a shorter time.

As you probably already know, there are many credit cards out there.  The one you choose however, should reflect your lifestyle and your ideal spending amounts.  If you are looking for the best possible deal and the best company for your credit card, you’ll obviously need to look around at what you have to choose from and what works best for you.

The first thing you’ll need to decide when choosing your credit card, is why you need one in the first place.  Some people choose to get a credit card for cash flow purposes.  With a credit card, you can make purchases and buy things, leaving your paycheck or other source of income in your bank account to draw interest.  This way, your money will continue to grow while you continue to buy the things you need.  Then at the end of the month, simply pay your bill.

Others will choose to get a credit card and use it for instant cash purposes.  This way, they can use their credit card at an ATM and get instant cash, which is great for travel or going on a long and extended vacation.  If this is why you want a credit card, you should look for one that has the lowest rate possible for instant cash transactions.

With a credit card, you’ll also need to think about the payments.  You’ll need to decide if you want to pay the balance in full each month, or only the required amount.  When you select your credit card, you should look at the introductory rates, balance transfer rates, and other offers that may apply to new credit cards and new holders.  Some will offer you truly amazing deals, especially if you have good credit.

Another important area to look at when choosing your credit card is the incentives.  There are several cards out there that will give you incentives, such as reward points and even cash back with purchases that you can use towards paying back what you owe.  There are several incentives out there with credit cards, all you have to do is look around and compare.

The key area you’ll need to look at and compare is the APR (Annual Percentage Rate).  The APR is what you will pay on what you purchase when the incentive period runs out.  APR rates will vary among credit cards, so it is always in your best interest to compare and shop around.  The lower APR rate you get, the better off you’ll be.

Another concern with choosing your credit card is the minimum payment amount.  Most minimum payment balances will start around 3%, although some can be lower while others tend to be quite a bit higher.  The interest free period is a concern as well, as you will obviously want to choose the longest period that you can keep the payments down.

When you make that final decision and choose your credit card, you should always make sure that you know exactly what you are getting. Credit cards are great to have, although they can lead to a downfall if you don’t choose them carefully.  If you put some time and research into choosing your credit card, you’ll find the best one for you.  As long as you take care of your credit card and pay the bill on time, you’ll help raise your credit and eventually be able to purchase even bigger things – such as a car or even a house.