If you’re dealing with a debt collector, you should think twice before you give them your bank account information. By providing this information you’ll give the debt collector direct access to your bank account! Find out what Gerri Detweiler advises for one unsuspecting consumer that may have learned the lesson a little too late.

Q: I received a call from a debt collector because I stopped paying a gym membership. While we were talking, she said that they could set a payment plan. She also asked me for my bank’s name. I gave it to her, but I did not what to pay for that at all. She also said she had my routing number and she needed a check number – which I did not give her. I am worried because I think they are going to start taking money from my bank account. Should I call them back and tell them that do not want to make a payment and cancel my bank account?

A: In my book Stop Debt Collectors: How to Protect Your Rights and Resolve Your Debts, which I co-wrote with Mary Reed and attorney John Ventura, we recommended that you never give your bank account information to a debt collector. At this point, I am not sure whether the debt collector will try to take payment from your bank account, but if they do, it may be a matter of your word against theirs.

If you did not authorize payment from your account to the debt collector, I would recommend you talk with your bank immediately and find out whether you need to close the account to protect it.

If you owe this debt, and it’s not too old (outside the statute of limitations) you do need to negotiate a settlement with the debt collector so you can resolve it and move on. Figure out what you can afford to pay and discuss a lump sum settlement. If you can’t afford to pay anything right now, then tell the collector you will contact them in a month to update them on your status. Keep in mind they may sue you to collect, but whether they actually will depends on the amount of the debt and whether they believe they can collect if they do win their lawsuit. By Gerri Detweiler

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Answer:

Indeed, we feel sad there are still bank liquidated, because the customer get the effect of it. But believe in me that am the best choose and I think the government has considered the risk. Indeed, the banks are not healthy and need closing for not giving the loss to the customer. Indeed, the money people saved in bank is guaranteed by government. So when, they are closed down, it will pay the customer money in their banks. But, this policy isn’t forever. Since ideally, it must not run great risk to that problem.
Therefore, the customers have to be careful in choosing the health bank. To start this, there are some points for caring:

1.    The first one is CAR (Capital Adequacy Ratio).  This ratio show how much is the capital of bank compared to the asset. And its asset has already considered the risk. The minimum number considered good by bank is 8 %, the higher the better.

2.    And the second is NPL (Non Performing Loan) or the gradation of jam credit. This number show how many present of trouble credit from all the credit borrowed by the people. Ideally, NPL of bank is not more than 5 %, the smaller the better. Those two numbers can be seen from the bank financial statement issued on mass media periodically. Or you may ask to the customer service of the bank. Actually, there is still one good way to know it, yet it can’t be a certain measurement, but very simple for an ordinary man. That is by comparing the interest rates of deposit, if there is bank offered a very high interest, just be careful, it has a big risk. Furthermore, if the short deposit interest is higher than the long one, it means the bank is not well and need “fresh blood “. One more time, it can’t be a real measurement, but the first assumption shows it. And this way can be seen for syaria bank. It the opposite, the higher the resulted by this bank, the higher the work of bank. This is because the result gotten by the bank is the result in managing the money. Not the interest given in advance and can be a burden if the effort is not maximum

Answer:

It is really sensitive as the target of victimization by irresponsible person. It can be various way. From taking it and using it illegally. Or without taking it, or using card identity as a means of shopping in the internet.

To overcome the crime of it, here are several tips may be be able to help you:

1. use credit card with electronic specification

Now it is not the time to deal it with old scour tool that just copy emerged number on the card to carbon paper. Since it can be easily manipulated. Use electronic card that can read magnetic data in it, and added with other protection like PIN.

2. Be careful with card identification data (card number and validation).

It can be used as a verification tool to do far distance transaction. Like via internet or telephone. For that reason, be careful with it. It can be used by other people if they knew its number and its validation and it’s PIN.

3. Be careful with personal identification ( date of birth, and mother name )

This can be done with more sophisticated way via telephone. If you contact bank via telephone to get the transaction, make sure the man who are calling is the right man on it. This is as standard security to customer. But be careful if suddenly there is a man calling and admit he is a bank staff and asking your personal identification. Remember in this case, they call first, your job to make sure that he is really bank staff. Now there are many modus operandi like that, so don’t give your data, if you are telephoned, it will be wise to call the legal number on the card or brochure, not the number suggested by dark caller.

4. Choose the easy remember pin but difficult to guess

If you lose your card, you still have chance to safety tool like PIN. Therefore it is very essential not to make easy guess pin like birth date. Since if you lose it together with the citizen card inside the wallet.

5. Don’t write the PIN ATM on the same place you put the card.

Forget is human, also the PIN. Many people write PIN on paper. Actually it is not recommended. But if you have to make, don’t put in the wallet. It is similar you park your motorbike with the key on it.

6. Add identification with photo

As an addition of security, many publisher offer photo on it. Yet, it takes longer or more budget, use this feature.

I am a housewife with two children age 3 years old. We both work, I work at a bank and a husband works in an automotive corporation in Jakarta. I always join the financial review through this issue. It is really helps us to plan. The one thing I want to ask for, is it good to liquidate our debt? As an addition I still have home credit, card credit and car credit. I have just got an inherit in great deal of money.

Jessica, USA

Answer:

Yet at this moment it is very difficult not to deal with debt, at least you are out of the red. If you force to owe, it is better to liquidate it, the faster the better. But we have to be selective which debt must be liquidated first. And certainly, there is any other need to fulfill and not all debt can be liquidated faster. There is various kind of obligation to pay the interest loan. There is fixed debt sum yet to liquidate earlier, and even there give fine if it is liquidated earlier. But there is debt can be best liquidated earlier. And now let discuss it one by one.

Now KPR (credit for home), if you take from BTN used annuity effective interest system. With this one, you will get the benefit if you can liquidate faster due to the interest burden will get smaller. But for KPR using Flat, will be different. Please check the agreement, there must be mention the clausal of fasten liquidation. If there isn’t, you may contact its customer service. It differs to car installment. If you install with leasing from financing corporation, will be difficult to liquidate fast. But to make sure, ask to it whether it can be liquidated faster or not. If there is fine for it, compare it with the save interest. If you credit from bank, it uses flat rate, the treatment will be the same like flat KPR (home credit).