Victorias Secret Credit Card Payment

  Victorias Secret Credit Card Payment  - Florida criminal credit card fraud: Lessons to learn  - Jul 11, 2007  

A huge credit card fraud amounting to US$ 75 million has been unearthed by the U.S. Secret service. The criminal gang caught perpetrating this credit card fraud was based in South Florida and had international links. The secret service agents recovered more than 200,000 credit card account numbers from these gangsters.

The modus operandi of these credit card criminals transcended international borders. These criminals used to send large amounts of money to cyber criminals in eastern Europe using E-gold accounts. The money was used to buy stolen credit card numbers from their east European counterparts. The stolen credit card numbers were used to generate counterfeit credit cards at numerous locations throughout South Florida. These credit cards were then used for fraudulent purchases and money withdrawal.

Strange but true, credit card crimes such as these and identity theft are on the rise. Everyday we hear or see new methods by which criminals exploit the vulnerabilities in the system. This particular case of credit card fraud was a visible example of co-operation between international criminals to promote mutual interests.

How can we protect ourselves from such criminals? This question must be troubling many of us. There is no doubt about the fact that criminals are getting wiser day by day, but if we take simple precautions like the ones listed below we can avoid getting into their traps for sure.

Always keep your credit cards safely, don't ever let them out of sight.

The PIN number of credit card shouldn't be posted everywhere, instead it should be memorized and the document containing PIN should be destroyed immediately.

Make sure that websites and online shopping sites on which you use the credit cards are 128 bit encrypted and has the latest security and privacy safeguards.

Whenever you pay your bills, or swipe the credit card make sure that it never leaves your sight. Don't let it fall into wrong hands.

Take extra care wherever you exchange your credit card details and destroy all the payment slips which have any reference to your credit card number.

Check your monthly statement carefully and if you find any discrepancy, report it to the credit card company immediately and if things go seriously out of control get your credit card blocked to prevent further misuse.

The dangers of credit card fraud are enormous, but a little care and one can steer clear of all such difficulties. Authorities are constantly taking measures to tackle such credit card frauds, and we should supplement their efforts with the vigil on our part.

  Victorias Secret Credit Card Payment  - The secret of successful debt settlement  - May 7, 2007  

Debt Settlement, also called debt negotiation is an arrangement between a debtor and a creditor to repay a debt generally for a for a lowered payoff amount. When a debtor is not able to pay the debt any more for any reasons, debt settlement is the only option that remains.

Generally, only unsecured debts, like those accrued with credit cards , can be negotiated for settlement. This is because of the fact that there is no security attached with unsecured debts. Hence, the lender can't repossess anything. On the other hand secured debts, like home loans, mortgages, car loans etc. have a collateral attached to them and can be repossessed by the lender if a default on debt occurs. So, there is no debt settlement or negotiation with secured debts.

Many third party companies offer debt settlement and negotiation services. These companies contact both the lender and the borrower and negotiate on the behalf of borrower to get the repayment amount and terms reduced. These services don't come cheap. Some good debt settlement companies can get the debt reduced by 50% or more, but charge around 10-20% of the debt amount as their fees.

To support the debt settlement industry and develop standards and best practices, practitioners established the United States Organization for Bankruptcy Alternatives (USOBA) in 2004 and in 2005, industry leaders established The Association of Settlement Companies. (TASC) TASC's goals are to promote good practice in the debt settlement industry, protect the interests of consumer debtors, and lobby on behalf of debt settlement companies on the federal and state level.

It has to be remembered that debt negotiation is getting the debt burden reduced and becoming debt free. Debt settlement shows poorly on a persons credit report and if not tackled properly can lead to bankruptcy.

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