Tuesday’s need-to-know money news

download (1)Today’s top story: What to do if you’ve been blacklisted by ChexSystems. Also in the news: How to avoid early withdrawal fees for CDs, steps to take if you can’t pay your taxes, and the high cost of being poor.

Blacklisted by ChexSystems? Here’s What to Know
That bounced check may have come back to haunt you.

How to Avoid CD Early Withdrawal Fees
Understanding the terms of your CD can save you money.

8 steps to take if you can’t pay your taxes
Don’t ignore the elephant in the room.

The high cost of being poor
How payday loans can become a never ending cycle.

Tuesday’s need-to-know money news

Zemanta Related Posts ThumbnailToday’s top story: How to stay safe while shopping for Labor Day bargains. Also in the news: Trusting apps that access your credit card, how to clear your ChexSystems record, and financial planning tips for college students.

Labor Day Deals: How to Stay Safe While Shopping Online
Don’t get taken for a ride while bargain hunting.

Should You Trust Apps That Access Your Credit Card Information?
Convenience doesn’t always mean safety.

5 Steps for Getting Your ChexSystems Record Cleared
When’s the last time your checked your ChexSystems record?

10 Financial Planning Tips for College Students
It’s all about the budget.

Calculate the Expected Salary (and Debt) With Your Degree
How much you’ll make and how much it’ll cost you.

Roommate may be not be telling the truth about his credit

Dear Liz: I have a roommate who has truly bad credit. He has been turned down from getting a checking account at banks because his mom bounced checks on his account when he was 18 (he is now 31). What is the best way to rehab his credit? He can’t get a secured credit card because he doesn’t have a checking account. Is there a way around this?

Answer: You may not be getting the full story from your roommate. If his mom misused his checking account when he was 18, it shouldn’t still be affecting his ability to establish a bank account. Reports to Chexsystems, the bureau that tells banks about people who have mishandled their bank accounts, typically remain on file for only five years.

Your roommate should first request a free annual report from Chexsystems at http://www.consumerdebit.com and dispute any errors or old information. Even if he’s still listed in Chexsystems, he could get a so-called “second chance” checking account from several major banks, including Wells Fargo, Chase and PNC Bank. Responsible use of those accounts should allow him to graduate to a regular checking account. Then he can start the process of rehabilitating his credit.