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Volume 1 - Issue 7

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In this Issue:

Medicare Part B Premiums
C.C. Rules May Be Too Late
(Don’t) Put it on My Tab
What Seniors Should Know About Debt Buyers
Scamming the Elderly
Negative Option
The Legacy Spotlight
Crossword Puzzle/Sodoku!

Medicare Part B Premiums and Your Income

The monthly premium you pay for Medicare Part B may have gone up this year because you struck it rich last year. The premium could also have gone down if you had a drastic reduction in income.

Most people pay the standard premium of $96.40 per month, but for those with higher incomes - more than $85,000 for single and $170,000 for married couples - or who received a one-time windfall such as an inheritance or money from the sale of property, the premium can range from $134.90 to $308.30 per month.

TO READ MORE...

Credit Card Rules May Be Too Late

The first of the new rules under the landmark credit card overhaul took effect on August 20, but they may have come too late for many consumers.

Since spring, when the new protections for credit card users were signed into law, banks have jacked up interest rates, changed accounts from fixed to variable rates and raised annual fees and penalties for late payments.

TO READ MORE...

(Don’t) Put it on My Tab

Seniors Faring the Worst When it Comes to Credit Card Debt

A new study conducted by Demos, a New York-based non-partisan public policy research group, has found that, among Americans holding balances on their credit cards, it is the older Americans who are drowning the quickest in their debt.

TO READ MORE...

What Seniors Should Know About Debt Buyers

By Jerome S. Lamet, Supervising Attorney - Debt Counsel for Seniors and the Disabled (DCSD)

If you have ever wondered why debt collectors continue to pursue debtors year after year, read the following:

Debt buying is a fast-growing business. According to an industry group, the Debt Buyers Association, “The face value of all such debt sold in 1993 was $1.3 billion. By 1997, that number had grown to $15 billion and sales reached approximately $25 billion in 2000.” By 2002 the figure exceeded $60 billion. By 2007, the amount had risen to $110 billion per year.

TO READ MORE...

Scamming the Elderly

A Look into Funeral Fraud

Courtesy of the Debt Council for Seniors and the Disabled (DCSD)

The funeral industry is federally regulated by the Federal Trade Commission (FTC). The federal funeral industry regulations, commonly known as “The Funeral Rules,” regulate certain pricing and sales practices by providers of funeral homes to inquire about the goods and services offered.

TO READ MORE...

Negative Option:

When No Means Yes

By Mark Huffman - www.consumeraffairs.com

For centuries, commerce was simple and straightforward. A merchant would offer a good or service for sale and a consumer would decide whether or not to buy. Today, with “negative option” marketing, commerce can be anything but simple, and consumers can end up being charged for products or services they never intended to purchase.

TO READ MORE...

The Legacy Spotlight

Guardianship Court and Seniors

By Sean Robertson - Wealth Preservation Attorney

Guardianship court is a court that administers court proceedings for adult disabled persons that are incapacitated. Seniors are living longer and health difficulties such as dementia and Alzheimer’s disease are affecting our friends and family.

TO READ MORE...

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