Get $100 From Microsoft to Buy a New PC

According to CNNMoney, Microsoft is offering $100 to consumers who purchase a new Windows 8 PC between now and June 15, 2014. To qualify, the shopper must be a current Windows XP user, and the new computer must fall between the price range of $599 and $2,299. This is Microsoft's latest effort to migrate Windows XP users to the newer Windows 8 operating system, as support for XP is scheduled to end on April 8. Currently, 30% of Windows users still run XP.

What operating system do you use?

Video: The Best and Worst Ways to Destroy Debt

In this video, Money TalksNews provides some tips on eliminating debt.

What other tips do you have to handling debt?

Anti-Foreclosure Program Extended

According to Reuters, the Home Affordable Modification Program or HAMP has been extended for two additional years. The program, which was introduced in 2009 as a tool to help struggling borrowers keep their homes, was set to expire at the end of 2013. It is reported that of the $29.9 billion allocated for the program, only $5.2 billion has been spent by the Treasury Department. Under the program, lenders and servicers are paid to rewrite loan terms for borrowers who can't make their current mortgage payments.

Do you support programs such as HAMP as a method to assist borrowers who are behind on their mortgage payments?

1 in 4 Consumers Finds an Error in Credit Report

A recent study conducted by the Federal Trade Commission revealed that 1 in 4 consumers has an error on his or her credit report. Consumers are entitled to one free credit report from each of the major credit agencies annually. According to Komonews.com, the study also revealed that 5 percent of consumers found errors that increased their payments on financial products like mortgages and car loans. So far, the Consumer Financial Protection Bureau has not taken any public action against the credit agencies. Consumers who find errors in their credit report can file a complaint with the CFPB and the offending agencies will have 15 days to respond or resolve the discrepancies.

When was the last time you checked your credit report for errors?

Banks to Pay $8.5 Billion in Foreclosure Settlement Deal

A recent article by New America Media, reveals that 10 of the nation's largest banks will be sending checks to homeowners who were in foreclosure during the years of 2009 and 2010. This news comes as part of a settlement reached between the banks, the Federal Reserve Board and the Office of the Comptroller of Currency.  $3.3 billion of the settlement monies will be sent to homeowners to compensate for errors that may have occurred during their foreclosure. Another $5.2 billion will be set aside to provide consumers with other forms of relief such as loan modifications.

The proposed payouts will vary depending upon the significance of the errors and the specific characteristics of the borrower's loan.

This settlement comes as a previous initiative to provide homeowners with an independent review of their mortgages expires. The program was criticized for its low rate of participation, lack of advertisement in areas hit the hardest by the foreclosure crisis, and alleged bias of reviewers.

Details about the current plan are scheduled to be released to borrowers in March.

Do you think this payoff will provide just compensation for borrowers?

Bank of America Voted Last in Customer Satisfaction Survey

A recent survey among banking customers shows that Bank of America has placed last in customer satisfaction. According to the L.A.Times, the popular bank while one of the nations largest, scored a 66 on a scale of 100 for customer satisfaction. This is the lowest rating the bank has received since the year 2000. This is also the fourth consecutive year that Bank of America has come in last place.

JPMorgan Chase came out on top edging out Wells Fargo for the number one position.

Despite rises in customer satisfaction in the banking industry as a whole, many consumers are switching from larger banks to local branches and credit unions. Because of this, credit unions have taken a slight hit in customer satisfaction overall, but they still continue to outperform other types of banking with a satisfaction rating of 82.

Do you prefer credit unions over traditional banking?

Walmart Introduces Monthly Food Subscription Service

Walmart has just launched a new monthly food subscription service. According to CGT, the service, cleverly named Goodies Co., will provide subscribers with a gift box of tasty snacks each month for a cost of $7.00, including tax and shipping. Each box will have a unique theme, and provide several sample food products. For example, last month, beta subscribers received "Trick or Treat" themed goodies, and for the month of November, boxes will include gourmet options such as white cheddar popcorn, dark chocolate bars, and wine biscuits. If a subscriber finds a food that they particularly enjoy, they can purchase it directly from the Goodies Co.website. Goodies Co. is just one of several recent attempts by Walmart to attract customers through e-commerce and social innovations.

With the holiday season around the corner, will you be subscribing to any food delivery services?

Freddie Mac Warns of Foreclosure Rental Scam

According to the Los Angeles Times, a new scam is gaining popularity in the rental market. It involves bogus landlords fraudulently renting foreclosed homes to unsuspecting victims. Often, the properties are listed for rent online by individuals who don't have legal ownership of the homes. Freddie Mac, the second largest source of mortgage money in the country, is warning desperate renters to watch out for this scam. Usually, the homes are listed for very low prices and require a large cash deposit prior to rental. Often, applicants don't hear anything back after disclosing private information such as social security numbers and financial data on the rental application. In other cases, the tenant moves in only to later find out that the house has been listed for sale by actual owner and they must move out. To prevent potential of identity theft, it is suggested that renters never fill out an online rental application until the property has been verified as a bona-fide renal.

What do you think can be done to help prevent such scams?

Government Sues Wells Fargo for Mortgage Fraud

The U.S. government has filed suit against Wells Fargo for recklessly underwriting home loans over the last several years. According to CNNMoney, a lawsuit was filed on Tuesday accusing Wells Fargo of recklessly underwriting  hundreds of loans which resulted in the Federal Housing Administration paying out millions of dollars in insurance claims on the defaulted loans.  Additionally, the bank was accused of hiring temporary staff to churn out loans while rewarding employees based on the number of loans processed. The FHA along with the U.S. Attorney's Office and the U.S. Department of Housing and Urban Development have filed similar fraud lawsuits against four other banks, three of which have been settled.

Amazon Begins Offering Loans to Online Merchants

According to msn money, Amazon is now offering loans to its online merchants. Although not officially announced, the program will offer business loans for users who sell products on Amazon.com. This move comes as many people interested in starting a business are unable to acquire traditional loans from banks. The loans are aimed at helping online merchants grow by providing financial means to buy more product. Amazon is said to be lending up to $800,000 to some sellers at interest rates ranging from 1%  to 13% in addition to pre-qualifying certain sellers based on their performance in the company's marketplace. Seller can sign up for the loans directly through their Amazon merchant account, and if approved, interest payments would be automatically deducted from their account.

Would you consider taking out an online loan to help grow your business?

Toys R Us to Offer Tablet for Kids

                                                                     Courtesy: Toys R Us

According to CNN Money, Toys R Us is gearing up for the holiday season by introducing it's own tablet computer for kids. The device comes equipped with 50 apps and popular games such as Angry Birds and Fruit Ninja. It will retail for $149.99 and will be released on October 21. Although the retailer already carries similar products from Leapfrog and VTech, the Tabeo's release will be the chain's first store branded tablet of its kind.

Sharpie Parties Target Foreclosed Homes

According to PE.com there is a new phenomenon taking place in neighborhoods hit by foreclosure: "Sharpie parties". The new trend involves teens vandalizing vacant homes using "Sharpie" markers. Parties are arranged via social media and often promote further destruction of the property including smashing windows, doors, and walls. So far, incidences have been reported in Texas, Florida, Utah and California.

How do you think such actions should be punished?

IRS Proposes New Rules for Medical Debt Collection by Tax Exempt Hospitals

Upon the passing of the Affordable Care Act, the IRS was assigned the task of developing rules to govern the collection of medical debt from patients of non-profit and tax exempt hospitals. According to Fox Business, approximately six in 10 hospitals in the U.S. operate as non-profit charitable facilities providing health care services to the poor. The rules proposed in late June would require hospitals to extend consumer protections and refrain from using aggressive debt collection practices against low income patients. Additional provisions include prohibiting tax exempt medical facilities from reporting negative information to consumer credit bureaus, foreclosing on real property, filing civil suit, and garnishing wages. The new rules would not apply to for-profit or government hospitals.
 
What effect do you think these guidelines will have on the collection of medical debts from low income patients?

Consumer Protection Bureau Releases Credit Card Complaint Database

The U.S. Consumer Financial Protection Bureau has released a complaint database that grants consumers access to complaint information for various credit card companies. This is one of many initiatives that the Bureau has undertaken in an effort to streamline consumer lending practices and make them more transparent. According to Reuters, the database has drawn fire from financial groups claiming that the Federal agency is unauthorized to release such information publicly and that the reported data is unverified. Despite this, the Bureau maintains its right to publicize complaint information. Of the companies included in the database, Capital One received the most complaints with Citigroup Inc. and JP Morgan Chase & Co. following closely behind.

Have a credit related complaint? The database is available at consumerfinance.gov.

The Cost of Living After College Graduation

Do you think a college degree is a sound investment? Check out this info graphic from Credit Sesame showing how new college graduates are faring in this economy. Interestingly, the average graduate is $50,000 in debt and less than half have full time jobs in their field of study.