In commitment to our community, we offer these financial literacy courses:

Building a Better CreditPortfolio

College Credit for Life

Foreclosure Prevention Basics

Knowing Credit Cards

Live a Richer Life - Pre-Discharge Class 

Money Management Basics

Money Principles For Today

Staying Up-to-Date on Identity Theft Scams

Just like legitimate business people, thieves, hackers and spammers are hard at work thinking of new variations to take more of our precious dollars. Called “E-mail Spoofing”, thieves use familiar email addresses to send bogus information. My favorite version of this scam happened a few weeks ago when I received “spoofed” email messages from myself. Hmm, even I’m not a reliable source!

According to the FBI, spoofing is designed to build a level of confidence so that individuals will provide personal, financial information online. Other methods, “IP Spoofing” and “Link Alteration” work in a similar manner. The bottom line is once they have gained our trust, they can reap their reward.

Information that should never be placed in unecrypted email or in online sites like Facebook includes your Social Security number, account information, cell phone numbers, previous employers, family names or personal details. This information not only creates an image of us, but it also provides a way for thieves to build a relationship to steal our identities.

What Can We Do?

One defense for thwarting spoofing attempts is to ignore embedded web site links; instead go directly to the web site itself and learn about the situation directly. Neither should we call unfamiliar telephone numbers and discuss our account(s). If you need to use an embedded link, ensure that your online security system is up-to-date, and check the URL after you click on it to ensure it is a correct domain name. If unsure, make a phone call to ascertain if it’s a safe link.

Make sure a web site is secure, displaying a lock icon and having a web address that starts with https:// before purchasing anything online.

Create passwords that contain a combination of letters and numbers. Never write passwords down or share them with anyone who initiates a conversation with you.

The National Foundation for Credit Counseling, our parent organization will celebrate “Protect Your identity Week”, October 17-23, 2010. For more identity protection tips, go to: www.protectyouridnow.org. Or call our Identity Theft Resolution Specialists at 800.410.2227 to ask your questions directly.

Back to Top

Professional/Business Credit Cards

According to Synovate, a global research company, 46 million “professional” credit card offers were mailed this year, which exceeds the number sent in 2009 by a whopping 256%. However, buyer beware!  Signing up for a professional/business credit account puts consumers back in yesterday’s terms, which includes penalty rates of 30% that can commence the day after making a late payment. Interest rates are also subject to increase without explanation and total payments can be first applied to the lowest rate balance.

Stacy Johnson, CPA with MoneyTalk News notes that the National Business Association is lobbying for legislation that will afford professional/business cards with the same considerations as the consumer version. In the meantime, be advised to use professional/business credit with care.

Consumer Credit Counseling Service of Greater San Antonio counsels consumers, some of whom use their personal credit for business. For more information, call 800.410.2227 or visit www.cccssa.org.

Back to Top

Maximizing Your Credit Profile

Consumer Credit Counseling Service of Greater San Antonio (CCCSSA) offers a variety of ways to maximize your credit profile. These services are offered to give you the toolsto develop and maintain a positive credit history.

Credit Report Reviews

Because your credit report is a record of your credit activities, it is important to review each of the three credit reporting bureau reports (Experian, Equifax, TransUnion) at least once a year. This can be accomplished by obtaining copies from Annual Credit Report’s web site (annualcreditreport.com).  Analyzing each report helps you find mis-information caused by clerical errors or identity theft.  If you would like assistance interpreting the report, our agency provides a private review of the findings for a modest fee ($20, single or joint). During the session a certified consumer credit counselor will show you how to read the report, guide you through the disputing process, and give you a general time frame for creditor responses. The counselor will also help you understand how long specific items will remain on your report.

Credit Score Analysis

Your credit score can also be analyzed in a confidential Credit Score Analysis session. The program is designed to identify detailed action steps which, when taken sequentially are predicted to raise your score by a specified number of points.

Increase your Credit Report Knowledge

Gain the knowledge to take charge of your credit profile in our free "Building a Better Credit Report" class. The class reveals how to read a credit report and understand credits core composition. We also include a comparison between FICO and Vantage credit scores.

“Most people don’t know what information is used to comprise their credit score,” says Bruce Witter, Certified Consumer Credit and Housing Counselor. “I like seeing their faces light up when they get it.”

“I enjoy teaching Building a Better Credit Portfolio because it gives me the opportunity to inform participants how they can rebuild their credit. Ultimately how they handle their personal finances reflects on their credit report,” comments Albert Guadiano, Certified Consumer Credit and Housing Counselor.

To take advantage of these free and low cost opportunities to enhance your credit knowledge, call 800.410.2227. Or reach us online at www.cccssa.org. Putting everything you learn into practice will help you raise your credit score which will usually make you eligible for lower interest rates. 

Back to Top

SA Rock 'n Roll Marathon

Look for the CCCSSA Team when the San Antonio Rock 'n Roll Marathon hits the pavement on November 14th. We'll be racing for Debt Control.

Back to Top

Free Checking Won't Be Free For Long

Banks are preparing to charge fees on basic banking services to replace revenue lost due to the CARD Act, according to the Wall Street Journal. One of the new rules is that banks can only charge overdraft protection fees to customers who sign up for the service. Some banks are dropping this overdraft protection altogether, which means if there is not enough money in the account to honor the draft, the transaction will bounce.

Meanwhile in the Senate version of the huge financial legislation pending will be limits on fees for use of debit cards.  This is viewed as helping retailers but again cutting bank revenue, so banks will search for alternative sources of income.

To generate new revenue, banks are developing new pricing models with changes expected in early 2011. Many customers will likely be required to pay monthly maintenance fees on the most basic accounts that don’t generate a lot of money. This could drive away some middle and low income consumers who don’t have a great deal of activity on their account.

To avoid fees, customers will have to maintain certain account balances or frequently use other banking services, such as credit and debit cards, automated teller machines and online accounts.

Back to Top

Inside Scoop on Credit Building

Your credit history is based on several components which added together result in a credit score. Your credit score is based on recent credit activity, late payments, how many times you have applied for credit and any public actions you’ve been involved in, such as lawsuits, liens, foreclosures and bankruptcies.

Fair Isaac Corporation (FICO) considers payment history above all else (35%) when calculating your credit score. An easy way to make positive changes to your credit score is to simply pay ALL of your bills on time. While some contracts like cell phones or gymnasiums don’t establish your credit, they have a negative effect on your credit score if you walk away from the commitments or forget to pay the bills.

We suggest that if you are concerned you may make a late payment or miss a payment, inform your creditors of your present situation and how you plan to resolve your financial problems. If you have a good payment history, you may be able to negotiate your next payment.

Remember, it is never too late to clean up your credit report or build a credit history. Call our credit counseling experts at 210.979.4300, 800.410.2227 toll-free or find us at www.cccssa.org.

Back to Top

Summer Tidbit

Because South Texas Summer days include heat and plenty of it, low-income residents are encouraged to join the  “Lite-Up Texas” Program. The program provides discounts on summer monthly electric bills from May to September. While Medicaid or food stamp customers are automatically enrolled, Texans with incomes of $13,538 per individual or $18,213 a couple may apply by calling 1.866.454.8387 toll-free.

Back to Top

Cool Off Spending

Feeling the "Urge to Splurge" this Summer? Control your spending habits by freezing your credit card in a block of ice. The time it takes to thaw out the card helps you examine whether or not you really need the item.

Back to Top

Making the Most of Your Tax Return 

Although tax season is often the most dreaded time of year for some, other consumers look forward to getting what's owed to them. According to Kiplinger.com, new and expanded tax breaks for home and car buyers, college students and their parents, homeowners who installed energy-efficient improvements and the unemployed are expected to boost tax refunds even higher than last year's average of $2,800.

More Americans are choosing to e-file and more consumers are filing their income taxes before April. You can also get your income tax refund faster with direct deposit. IRS Form 8888 allows you to deposit your refund into more than one account so you can wisely save part of your tax refund instead of spending it.

Consumer Credit Counseling Service of Greater San Antonio (CCCSSA) suggests the following tips for managing your tax refund:

Avoid refund anticipation loans.
The is actually a loan secured by your pending tax refund, which you have to pay back even if you don't get a refund. Many income tax preparers offer this option when you file; in essence, it's about 1% of the refund plus a paperwork fee. If you're looking for a quick refund you can get it within two weeks or less by e-filing and having the refund directly deposited into your account. Volunteer Income Tax Assistance (VITA) program offers free tax preparation and e-filing for taxpayers whose incomes were $55,000 or less in 2009. VITA site information is available by calling 2-1-1. If you earned $57,000 or less in 2009, you can also e-file your taxes for free at www.irs.gov. Other free tax preparation and e-filing services may be found by searching the Internet.

Pay down credit cards or other high interest loans.
Use your refund to pay more than the monthly minimum payments. Add extra cash to loans with high interest rates. Remember, credit card debt is simply an unsecured loan. The longer the life of the loan, the more you'll pay for borrowing the money. If you can't pay the off completely, make an extra payment. By making an extra credit card payment you can reduce your interest costs.

Pay down your mortgage.
Any extra payments go toward paying down your principal. Paying off your mortgage faster means you pay less in interest. Using your refund to reduce your mortgage debt can mean substantial long-term savings. Just by making two extra payments a year, you might be able to pay off your loan in 15 years on a 30-year mortgage. Most experts believe that is a better approach than refinancing to a 15 or 20 year loan.

Contribute to or open an emergency fund.
Your tax refund is a great way to start. Most experts recommend saving three to six months of living expenses. By placing the cash in a separate savings account or short-term CD, you're going to be less likely to use it and it will be there in case of an emergency.

Invest in retirement.
Many people are working after the normal retirement age of 65 and it is estimated that a majority of workers believe they are behind on their retirement savings. Something new is coming in 2010, regardless of income, consumers will be able to convert their traditional IRA's to Roth IRA's. Tax on the conversion is spread over 2 years. Currently, if you are 59 1/2 years or older and open a Roth IRA, it must stay open at least 5 years to avoid being taxed for withdrawals.

Tax Refund Savings
Whether it's your 401(k), IRA or Roth IRA, investing your tax refund now will mean a nicer cushion later. The sooner you start saving the more time your money has to grow. Make retirement savings a high priority by setting goals for yourself, devising a plan and sticking to it.

Service the car and tackle other to-do's.
If you've been putting off getting an oil change, cleaning the gutters or fixing the leaky roof - now's the time to cross those things off your list. Using your tax refund to maintain your expensive possessions now could save you money in the future.

Open a 529 College Savings Plan.
A college education isn't getting any cheaper. With 529 College Savings Plan withdrawals are tax-free when used for higher education. Plus, some plans come with tax benefits.

Want more information about maximizing your tax return? Call our agency at 210.979.4300 or 800.410.2227, or find us on the web at www.cccssa.org.

Back to Top

Treasure Hunt: Finding Unclaimed Cash

Finding treasure doesn't always mean mining for gold, silver or diamonds. Dan Schointuch, MoneyTalksNews writer found that 1 in 8 Americans have money waiting for them as reported by the National Association of Unclaimed Property Administrators (NAUPA).

Missing Money
NAUPA calls missing money "unclaimed property" left over from inactive financial or corporate accounts (one year or older). Examples include old bank accounts, stock certificates, life insurance proceeds, un-cashed paychecks, utility deposits, savings bonds, income tax refunds and pension benefits.

Hunting for Treasure
Instead of paying someone to search on your behalf, why not start with these locations? NAUPA database, www.MissingMoney.com lists unclaimed governmental property records; in Texas these records may be found at www.ClaimItTexas.org. USA.gov lists unclaimed money by the following categories: bank failures, Credit Union unclaimed shares, damaged money, investors claims funds and class actions, government benefits, HUD/FHA mortgage insurance refunds, pension funds from former employees, tax refund status, tax vacations and undelivered tax refunds. Finally, older stocks may be traced on the U.S. Securities and Exchange web site (SEC), www.sec.gov. Good luck and happy searching.

Claiming your money is the first step. For help in making the most of your "treasure", arrange for a free budgeting counseling session by calling 800.410.2227 or go to www.cccssa.org.

Back to Top

CCCSSA Announces Facebook Page

Look for us on Facebook in April when our nation recognizes financial literacy. On this site you will find information on our financial counseling and education programs, industry updates and helpful tips designed to give consumers "recipes" to achieve financial success. If you currently use Facebook, just look for "Consumer Credit Counseling Service of Greater San Antonio" in your search. If  you are not on Facebook, we invite you to join. It's free and a great way to stay connected to CCCSSA, so you can participate in discussions and learn ways to improve your financial literacy. Help us reach more people by becoming a fan and spreading this important message.

Back to Top

Credit Score Analysis Program

There are a number of reasons why you may be interested in boosting your credit score. Perhaps you are in the market for a new car, or are considering buying a larger home. But those signs stuck in the ground on the side of the road suggesting to call a phone number and you’ll improve your credit don’t strike you as the best referral source. Well, good news!

Consumer Credit Counseling Service of Greater San Antonio (CCCSSA) has partnered with CREDCO to offer legitimate and qualified assistance in understanding your credit score, how to improve it, and even what effects different actions (like closing a line of credit, or credit balances) can have on your score. Our new Credit Score Analysis Programis designed to provide consumers with a realistic, timely, and powerful method using CreditXpert™ to analyze and understand what specific actions will do to their credit score.

For an initial fee of only $75[1], our certified and experienced credit counselors will provide the confidential counseling session, access to the proprietary score analysis CreditXpert™ product, and follow-up for one-year. Additional fees apply only if additional use of the scoring analysis product is required. Your counselor will help you identify specific areas that are negatively impacting your credit score and provide detailed actions to improve your credit image.

At the conclusion of the session, you will be provided with a detailed action plan outlining steps and guidelines that show you how to get where you want your credit to be.[2]The Financial Solution.

For more information about CCCSSA’s Credit Score Analysis Program or any other of our credit or debt services, call us at 800.410.2227, or find us on the web at www.cccssa.org.

Credit Card Changes in 2010

In February 2010 the Credit Card Accountability, Responsibility and Disclosure Act of 2009 will take effect. The new rules will better protect those who use credit cards by limiting some practices. If you have noticed recent changes in credit card policies, the reason could be that the financial institution is trying to have policies in place before the new law takes effect. So what do these changes mean to the credit card holder?
Credit card companies will be required to provide 45 days notice of rate increases and other changes.

These points are just a few of the highlights from the upcoming law. Click here to read the Federal Reserve's review of these changes. CCCSSA can help you understand the “Act” and how it will personally affect you. We offer workshops to the community that can increase consumer financial literacy. Contact us at 210.979.4300 or 800.410.2227 or go to www.cccssa.org for workshop information in the New Year.

Back to Top

Volunteer Income Tax Assistance Program (VITA), Returns $70.5 Million to Local Residents
San Antonio Ranks Second in the Nation for Free Tax Filings

The Alamo City Coalition for Economic Self Sufficiency (A.C.C.E.S.S.) VITA program continues to be one of the nation’s largest producers of free Federal Income Tax preparation, second only toNew York City.

During the 2009 tax season, the VITA program completed 38,740 tax returns, returning $70.5 million toSan Antonio andBexar County residents. Of the total dollars, $24 million represents the Earned Income Tax Credit (EITC). The EITC helps working families meet basic needs through tax credits for earned income, up to a variable threshold based on family size.

As many as one-in-four eligible Texans fail to claim the EITC, leaving $1.4-$1.9 billion unclaimed in 2009. [3]

VITA volunteers assist families and single or married working individuals who earn less than $55,000 and are eligible for EITC benefits. The VITA program helps prepare basic 2009 tax returns for families, and individuals FREE of charge.

The VITA sites will begin operating on January 13, 2010 for the 2009 tax year. This year 26 sites will operate throughout the city. 

A Super VITA Sunday will be held on Sunday, January 31, 2010 at the Henry B. Gonzalez Convention Center. Doors will open at 11:00 am.  Please call 2-1-1 for locations and times, or visit the web site at www.vitasa.org. Volunteer Opportunities are also available through the web site.

The threshold amounts for 2009 tax returns follow:

The maximum EITC for 2009:

Alamo City Coalition for Economic Self Sufficiency (A.C.C.E.S.S.)

A.C.C.E.S.S. is a community initiative developed by members of government, private and nonprofit organizations. The primary goal of ACCESS is to:

“Increase the Financial Stability of Working Families”

Back to Top

[Home][Workshops][Request a Workshop][Consumer Tips][Privacy Policy][Workshop Testimonials] [Contact Us]