So many people are buried in credit card debt these days. In a perfect world, the companies who are all too happy to extend your credit would also help you dig your way out, but, that isn't reality. They are in the big money business and are only too thrilled to extend you way beyond your limits; even beyond what they know you can afford. And, it isn't illegal for a credit card company to take advantage of consumers, so, we are pretty much on our own and need to be diligent about what we charge, and our ability to pay the bill.
But, this isn't about that. Today's missive includes suggestions about what you can do to eliminate your big balance(s).
1) The first thing: try to lower your rate.
Of course, ask your credit card company. I honestly don't think it'll work, but try. If it doesn't, find a better deal. Shop around. State chartered banks (savings and loan institutions, trust companies and credit unions) usually have the lowest rates. Go through the phone book (still have one of those?) and call around and ask about rates. When you find one, call your existing company and threaten to pay off (transfer) your balance and close the account if they don't match the rate.
If you do find a transfer deal, make sure you read the fine print. The cover letter may offer 0% financing, but that is usually for a very specific period of time and if you don't pay off the balance before the expiration, you could end up with a higher rate and worse deal than you started with.
2) Investigate a personal loan.
Again, state chartered banks usually have the best deals .. but ask around. You may be able to consolidate your debt and pay it off at a rate much lower than what credit cards charge
3) Homeowners, ask about an equity line of credit
This is actually my least favorite option because you really have to understand what you are signing. Many of these loans are variable rates which, as I am sure you have heard, start low, and then escalate. They are also usually tied to the prime lending rate .. and who knows where that'll go in coming years. You don't ever want to do anything to jeopardize your home, so, if you decide on this option, make sure you know exactly what the costs will be for the life of the loan.
Again, I believe for the most part, credit card companies charge usurious rates, should be ashamed of how they treat consumers and probably regularly congratulate themselves on dodging any new regulation.

In the spirit of full disclosure, I have to admit, I am cranky. Lucky enough to have my mother's genes, I am rarely sick. In nearly 30 years here at WCVB, I don't think I've had a sick week ... ever. Until now. It wasn't exactly a full week, but even the 4 day s I was forced to stay home this week has me still feeling out of sorts. The only good part about the fever, cough and resulting infection was the fast-track antibiotic I (happily) responded to, quickly.
But, I really wanted to write today about Sharper Image and their new (revised) plan to accept the gift cards they initially refused to honor, when they first filed for bankruptcy protection. They'll take them now, but, in order to get full value (of the money already spent in their stores on the gift card), you have to spend twice the amount. In other words, if you have a $50 gift card, you have to put it toward something $100.00 0r more. Fine, if there is something you really want and intended to buy anyway.. but, not so fine if you are spending the extra cash just to feel like you aren't losing anything.
So, I have another idea. When all of this happened a couple of weeks ago, Brookstone saw it as a marketing bonanza and quickly welcomed Sharper Image customers, offering to accept their gift cards..which they are doing AT FULL VALUE .. FOR FULL VALUE.
Attention Sharper Image shoppers: just on principal, you might want to check out the goods at Brookstone.
Have a good weekend.

Instant money is always nice, when you get a gift, or see your name on the state's unclaimed property list .. or maybe you're lucky enough to win the lottery ... but NOT when we're talking about your tax return. Some commercial tax preparers, like H&R Block, entice people by offering an instant refund. Hear an offer like that and you assume it means you can get your government check immediately. You can't. What you get is the equivalent of a loan. Your return is prepared. Your refund is computed, and what happens essentially is, you get a cash advance .. and, like at any bank or lending institution, there are fees attached. In other words, it'll cost you to get an instant refund, and it could be a lot. Make sure you know exactly what an instant rebate will cost. Ask. It could be a lot and worth waiting the few weeks for your government check.

Today's storm is especially difficult for people planning to fly out of Logan. Not because it's so hard getting to the airport ... but, because you may not be sure your flight will leave on time, or at all. There haven't been any wide-spread changes or alternations to the day's departure screen, but there have been cancellations here and there .. and the question of refunds always pops up.
I am happy to tell you, some of the airlines, like Delta, have loosened their general policies, so it is easier to get a full refund if you decide you don't want to make a trip .. but, the terms and conditions are important; you can't simply ask for your money back.. it needs to be within a specified period of time. Check with the individual airline.
Now, having said that, it is different when there are weather related problems. Laws are sketchy on this; the FAA gives the airlines a lot of slack when setting policies .. they mostly have the freedom to come up with whatever they like, with one caveat: they must get you to the destination for which you paid. If they can't, they have to give you a refund. However, if a flight is simply delayed, it's harder. Most airlines will accept a weather-related itinerary change free of charge, but they won't automatically issue a refund. Of course, it never hurts to ask. And as I said earlier, check with the individual airline to see what its policy is .. because they vary between carriers.

By now you've probably heard the Sharper Image is in financial trouble and has filed for bankruptcy protection. Company officials say they want to re-organize. The idea is to close nearly half their stores and come up with a plan that will bring the once cutting-edge retailer back to its prominence. In the meantime, the same company spokespeople are saying it will be business as usual. Well, it's not, exactly.
When I hear "business as usual", I think just that: go into a store and you won't notice anything different. Well, a quick check at the Sharper Image at the Natick Collection, and things ARE different. One big change: they are no longer accepting gift cards .. so, that pile you got over the holidays .. I am sorry to tell you, they are worthless. That credit you received when you returned the things you didn't want: worthless. How can you retrieve the value? You can't.
Unless otherwise noted by a court, that's what a bankruptcy filing is .. protection for the business, not the consumer.
As you may have heard me say so many times before, this is one big reason I don't like the a-fore-mentioned means of gifting. When you receive a card, use it ASAP .. in case something like this happens.

If you've seen a newspaper over the last few days you would think President;s Day is the only time to buy a car. I have always wondered, if they are so excited to sell us a car during this time, and insist it is the best possible deal, then how desperate must they be to sell the remaining cars the next day? Personally, I have always thought the week after President's Day was appealing for car shopping. But, then again, you'll never see me in a grocery store onthe eve of a storm. I'd prefer to starve to death. But, I digress.
So, if you bought a car over the last few days, there are some things you should know:
First of all, I hope you really like it because if you signed the paperwork, it's a done deal. Contrary to what many people think, there is NO 3-day right to cancel. A signed contract is a done deal, unless you legitimately have problem.
For example, if the salesman tells you something about the car which is also denoted in the contract, and you discover an error after you take possession, you can returnthe vehicle immediately. If you can't work it out with the dealer, you have the right to officially reject the car (or truck)
If you have problems with the car, new or used, you do have rights. It's the Lemon Law for new vehicles.... The Lemonaid Law for used. Both laws also apply to leased vehicles.
Again, car laws apply to cars and trucks only. Mobile homes don't apply, nor do ATVs.
If you have problems with those vehicles, the best thing to do is call me.
Here are the links for the state lemon laws

http://www.mass.gov/?pageID=ocaterminal&L=4&L0=Home&L1=Consumer&L2=Autos+and+Transportation&L3=Lemon+Laws&sid=Eoca&b=terminalcontent&f=the_new_and_leased_car_lemon_law&csid=Eoca

If you are a regular reader of this blog, and I hope you are, you know I have written about pot hole damage and who pays, before. You know, if your car is damaged on a state owned and operated road, you are on your own. As Jack Harper reported tonight .. there is no law forcing the state to be responsible. But, not so cities and towns .. and, as a matter of fact, some will reimburse you.
If you lose a tire or suffer any damage to your car the result of a pothole the first thing to do is call them local police. Even though they can't help you file a claim, they can make a record of the hole and follow procedure for getting it filled. They can also tell you if the road is maintained by the local municipality, and, if it is ... your next call is to the city or town hall. The clerk's should be able to direct you to the office responsible for taking your claim. Usually, its the Alermen or Board of Selectmen. You'll likely have to write a letter and submit a bill, and re-imbursement could take weeks, depending on how often the governing body meets, but, it's the only chance of getting help for a situation that you didn't cause.
Good luck and happy motoring.

Many of you may be intrigued by today's news about the liquidation sale at Alpha Omega. Even if you've never been in one of their stores, you've probably seen either one of their billboards advertising expensive Rolex watches, or magazine ads with local celebrities flashing fabulous jewels, and you're thinking you'll be able to get that kind of merchandise really cheap. Think again.
Jewelry is a blind item. It's sometimes hard to know what you're buying.
I haven't been to any of the stores yet, but I highly doubt they have cases full of Rolex and other big name watches or diamonds at greatly reduced prices. It's a lot more likely what they have is shiny gems, with price tags that may or may not reflect their true worth. You are no longer dealing with a local merchant, whose name you know. You are dealing with a liquidator who has possibly taken the original Alpha Omega stock and, if not replaced it all together, perhaps combined it with stuff that may have come from .. well, use your imagination.
Here's the point: you may not know what you are buying. It may not be the quality you'd expect to find at Alpha Omega before it's owner disappeared and there were reports of millions of dollars in missing merchandise. And there is no way to check.
So, yes, go to the liquidation sale .. but, with a realistic attitude .. and don't buy something just because they say it's a good deal. If it doesn't have a brand name and a price tag you can check elsewhere .. you really don't know what you're buying. Don't forget that!

Who hasn't noticed that it costs more for everything these days? Gas, of course...but even eggs, fresh vegetables ... snow removal .. everything. And you may be one of the many people I talk to everyday who are having money problems, asking about credit consolidators and services.
There are so many scams out there, it's easy to be tricked by great sounding promises made by people who only want your money. So, I have compiled a list of things that should set off the scam artist alert when you are thinking about signing on with someone or thing that calls itself a consolidator.

DON'T PAY A LARGE AMOUNT OF MONEY UP FRONT TO GET STARTED
I don't care why they say you have to; whether they call it an initiation fee, an escrow account..whatever. I call it a rip off and a sure bet that you will lose whatever you give them.

DON'T SIGN ON UNTIL YOU KNOW WHAT IT COSTS
Some companies are so busy making promises about things you want to believe, they don't tell you the ultimate cost. ASK!! And, if they offer a program for "X" number of dollars for "X"number of years, do the math. $10.00 a month may not sound like much .. until you find out it is for the rest of your life. Besides, most legitimate companies charge on a sliding scale...depending on what you can afford. It's not usually a flat fee. And they are usually non-profits, trying to be part of the solution, not the problem!!

DON'T BELIEVE ANYONE PROMISING TO CLEAN UP YOUR CREDIT
They can't. If it's bad, it's bad and, by federal law, will stay bad, on your record, for at least 7 years. Bankruptcies, longer.

DON'T AGREE TO A LOAN FROM A CONSOLIDATOR
They rarely have the best terms and conditions and usually charge usurious fees. If you are considering a personal loan to consolidate your credit, go to your local neighborhood savings and loan institution, or credit union..they have the best rates and will usually do whatever they can to help.

GET HELP LOCALLY
There are several good services in Boston and Cambridge, with satellite offices around the state. (You can find them on-line and in the good old phone book.) You want to be able to actually see the people to whom you are giving all your personal information, money and trust

Finally, if it sounds too good to be true .... call or write to me first.
swornick@hearst.com

Maybe it's the weather, maybe it's the economy, but I am hearing from a lot of people who are thinking about selling their time-shares, asking where to turn. Or course, to me! No, I can't buy your time-share. But, I can tell you how to protect yourself from being ripped off.
Here are some basic guidelines.
DO:
Check your original contract or bill of sale. There may be buy-back provisions from the original marketing company. The rate of return may not be what you can get on the open market, but, you may have an easy solution.
Check with the resort office at your property. They may know of people trying to buy in. Or they may act as your agent.
Check nearby real estate agencies. Not all handle time share re-sales, but, some do. It's worth asking.
List your property yourself.. but, if you do, be prepared to hear from scam artists who'll make wild promises who will demand payment up front, first. Don't do it. I have never ... EVER ... heard a happy ending to a story about those guys. Paying up-front is not how legitimate agencies operate. Legitimate agencies take their commission at the time of the sale.
And here are some other DON'T-s:
DON'T believe anyone who says they have hundreds of potential buyers. They don't. There is not a huge market for time-share re-sales. Ask anyone trying to sell one.
It's okay to pay money to list your property in a book, mass mailing, or any other publication, but, DON'T pay ANYONE a large fee, up-front, because they promise a sale. I don't care what they claim they need the money for; marketing, fees, taxes.. Whatever they call it, I call it a rip off, and money you'll likely never see again. As I said, this is not how legitimate companies operate .. demanding pre-payment.
If everything fails, and you can't sell your time-share, you might think about giving it to charity. Seriously, there are many good causes which could auction it off at their next event, bringing in big money for them, and possibly giving you a tax deduction, not to mention a great feeling. It might not be the same warmth you feel on the beach near your property.. but, it may be better... Because it'll be in your heart.