Come the Fourth of July, our split personality comes out and we permit just about any use of the Stars and Stripes in the name of making a dollar. Jason Cochran traveled to the heartland of America to see how many different flag-themed knick-knacks he could find.

WalletPop Wire

Relief from predatory debt settlement companies could be coming

Martha C. White Jul 3rd 2010 @ 10:00AM EST Filed Under: Debt

We here at Walletpop have warned you before about the practices used by debt settlement companies and how to avoid being taken in by pie-in-the-sky promises of magically-erased debt. Now, finally, the law might be catching up. According to the Center for Responsible Lending, the FTC -- after a lengthy public comment period -- is considering implementing rules that would prohibit these operations from pocketing consumers' money without actually helping them get out of debt.

The FTC would technically invoke an already-on-the-books telemarketing law, which would apply to debt settlement companies due to the fact that phone contact generally takes place between the two parties, and the Center says it expects a final decision by the agency to come next month.

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Charity founder pleads guilty to swindling donors

Jorgen Wouters Jul 3rd 2010 @ 8:00AM EST Filed Under: Charity, Fraud, Consumer Ally, In the News

The mastermind of a sham charity has admitted pocketing more than $2 million in vehicular donations meant to help disabled children, New York Attorney General Andrew Cuomo announced.

Shoba Bakhsh, of Queens-based "Hope for the Disabled Kids, Inc.," was arrested and pled guilty to charges she lied to donors and misused funds for herself and her family. The action marked the latest round the Attorney General's ongoing investigation into car donation charities.

Hope for the Disabled Kids, which has been shut down, accepted thousands of cars and generated more than $2 million in revenue between 2001 and 2009. Bakhsh promised donors that more than 90% of all donations would go directly toward helping disabled children. But no funds solicited between 2007 and 2009 were used for any legitimate charitable purposes, and Bakhsh destroyed all records prior to 2007and filed false paperwork.

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Survey: Legitimate websites more likely to carry a virus than adult sites

Josh Smith Jul 2nd 2010 @ 6:15PM EST Filed Under: Technology, Identity Theft

One of the most oft-repeated warnings about computer viruses is that if you visit an adult-themed website you're more likely to get a one than shopping online or reading the news. Computer security company Avast! wanted to test this Internet assumption. So the company analyzed infected web sites for a 30-day period and found that legitimate websites were many times more likely to contain an infected file than those with adult content.

During the a 30-day period from late April through June, Avast monitored infected web sites, of which 24,368 traditional .com web sites that did not contain adult content. The survey of infected sites showed that only 339 contained "adult specific keywords."

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Window quickly closing on California home-buyer tax credit

Diane Wedner Jul 2nd 2010 @ 5:00PM EST Filed Under: Home, Real Estate, Recession, Mortgages, Tax - Credit

Just as Congress approved a three-month closing-date extension for first-time buyers applying for federal tax credits -- a program responsible for big spikes in home sales this spring -- California announced that its most popular tax credit program is rapidly reaching the application limit.

As of June 29, the state already had received first-time buyer applications totaling more than the $100 million allotment--about 21,000 applications--according to the state's Franchise Tax Board. The good news is that the board is accepting at least 28,000 applications, knowing that a number of duplicate, revised or invalid applications will be denied.

The tax credit is allocated on a first-come, first served basis, based on the time and date stamped on the faxed application. Applications must be faxed after escrow closes. The tax board will post the cutoff date for applications on its website 24 hours prior to its going into effect, so applicants have time to fax their documentation.

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When a friend emails for help, beware

Beau Brendler Jul 2nd 2010 @ 4:30PM EST Filed Under: Fraud, Consumer Ally

"Worst Case Scenario (NEED HELP)," said the subject line of an e-mail my wife received. She was surprised to see it was from one of her work colleagues, or so she thought. It said (all errors intact):

"I'm writing this with tears in my eyes,my family and I came down here to (Buckinghamshire) United Kingdom, for a short vacation unfortunately we were mugged at the park of the hotel where we stayed,all cash,credit cards and cell were stolen off us but luckily for us we still have our passports with us.

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Top-ranked female financial adviser offers advice to WalletPop readers

Vera Gibbons Jul 2nd 2010 @ 4:00PM EST Filed Under: Credit, Debt, Family Money, Career, Recession, Retirement Advice

With concerns rising that the economic recovery is stalling, and that we're at risk of slipping into a "double dip" recession -- when the economy shrinks, grows, and then goes back into reverse -- it's no surprise that one of three Americans are losing sleep. But did you know what we're spending 3.5 hours a day worrying about our financial troubles?

One of Barron's top-ranked "Women Financial Advisors," Ameriprise Financial's Geri Eisenman Pell, CFP, MBA, provides some insight -- and advice -- as it relates to the key financial issues that are robbing Americans of their all-important zzzzz's.

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10 D's: Tips for staging a house; how decor and diligence can deliver

Amy Pyle Jul 2nd 2010 @ 3:00PM EST Filed Under: Home, Real Estate

So you have to put your house on the market. The good news is that interest rates have plummeted, which makes it attractive for those shopping for mortgages. The bad news is buyers aren't breaking down your door. And you've got to compete. We asked the experts how to be a winner in the house-staging department -- and added a few suggestions of our own. Let's call them the 10 D's -- the daily to-do list when you're showing your house.

The overall key, according to Designed to Sell designer Lisa LaPorta, is making buyers feel at home. "When buyers come through and imagine themselves there," LaPorta says, "you can bet an offer isn't far behind." Elizabeth Weintraub, a broker with Lyon Real Estate in Sacramento, Calif., says home staging for sale is "about illusions," comparing it to a magician's handiwork.

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The lesser-known hazards of major holidays

Tom Barlow Jul 2nd 2010 @ 2:00PM EST Filed Under:

Dangers lurking in 4th of July celebration

Holidays, while fun, can carry their own brand of peril. We know about the dangers of driving, but what other hazards can sap the joy out of our celebrations?

New Year's Eve/Day
While some people kiss, ring bells or blow horns to usher in the new year, a few resort to a riskier way of making noise; shooting a gun into the air. According to the Mythbusters, a 9mm bullet fired into the air can climb to a height of 4,000 feet and remain in the air for 37 seconds.

The Centers for Disease Control studied the impact of celebratory gunfire in Puerto Rico in 2003-4 during the New Years holiday. In this two-day period, 19 people were injured by probable celebratory gunfire. Four were hospitalized, and one died. Head wounds were the most common form of injury.

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Designer diapers hit Target's shelves

Jennifer Oldham Jul 2nd 2010 @ 1:00PM EST Filed Under: Health, Economizer, In the News

Parenting blogs were humming with talk this week about just who would buy Pampers' new designer diapers when the luxury line -- replete with pastels, madras, and ruffles -- goes on sale later this month at Target and Target.com at prices about 60% higher than existing brands.

Many fashion-forward moms readily admitted that they are tired of outfitting their toddlers in diapers adorned with oh-so-yesterday Sesame Street characters like Elmo, Grover and Big Bird.

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