‘Tis The Season for Consumer Know-How

With holiday shopping in full swing, it’s a time of thoughtful gift buying but also a time to be aware of the resources you have to protect yourself as a consumer,

The Consumer Financial Protection Bureau website has a wealth of information on a variety of financial subjects for consumers. The website includes information on how to submit complaints about companies and allows one to browse public complaints about companies. Common questions, including “I owe more on my current loan than my current vehicle is worth. What do I need to know if I buy a new vehicle?,” “How do I dispute a charge on my credit card bill?,” “What should I do when a debt collector contacts me?,” and “What are the costs and fees for a payday loan?,” are also answered.

Another useful area is an in-depth section on how to reach financial goals, including information about paying for college, buying a house and planning for retirement. In the section about buying a house, there are a number of key tools that can help a home buyer – especially a new home buyer – navigate the hurdles of home buying. The key tools include a credit report checklist, a spending tracker, a guide to understanding loan options, information on interest rates, an explanation of loan estimates, a closing checklist, a closing disclosure description and a guide to closing forms. There are also tips to help one avoid mortgage closing scams.

The website also contains consumer tools relating to auto loans, credit cards, debt collection, frauds and scams, payday loans and reverse mortgages, as well as guides on managing someone else’s money and navigating the military financial lifecycle.

When it comes to helping consumers handle their money, the Consumer Financial Protection Bureau has all the bases covered. The website is the place for the consumer to find what they need to know about protecting their finances.

From the December 4th Indiana State Library Wednesday Word.

Posted on December 10, 2019

by Susan Bannwart


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