Unclaimed Property Blog

There are times when the money in your IRA is needed, but then when you look at the penalties attached, you know you have to find alternative solutions. Here are withdrawals that can be made without penalty

When you take money out of an individual retirement account (IRA) before you reach age 59½, the Internal Revenue Service (IRS) considers these premature distributions. Therefore you would incur a 10% penalty charge on the amount withdrawn in addition to owing any tax that might be due on the money.

The good news is there are times when the IRS says it is OK to use your retirement savings early.

A recent survey shows that young people don’t know it all when it comes to finances and economics. In fact they only know half.

In 2002 a survey taken by high school seniors regarding personal finance and economics showed a 50.2% accurate knowledge on the subjects. The 2004 survey results were up slightly at 52.3%. The results from the 2005 survey resulted in a score of 52.4%, barely up over 2004.

The controversy surrounding gift cards is continuing in Georgia. This week the Supreme Court is hearing both sides of this issue.

The debate began years ago as an argument over the legality of expiration dates and non-usage fees. It has since evolved into a battle over whether a gift card recipient can sue the issuing company for the card’s value.

The Georgia Court of Appeals said no last month which was a reversal of a trial court’s decision. The Appeals Court threw out the lawsuit that accused mall operator Simon Property Group of illegally deducting value from its gift cards and keeping the remaining balances when customers didn’t use them before a deadline.

Research suggests that being happy may boost your chances for professional and financial success.

When something goes well in your life, it’s not uncommon to expect that that success would make you happy.

It is now believed that the reason things go well in the first place may be, in part, because someone is happy to begin with.

Simply put, evidence suggests happiness begets success. When successful your happiness increases, which then can produce more success. This is a nice effect.

Research done at the University of Illinois, the University of California, and the University of Missouri-Columbia found that those with a cheerful disposition are more likely to, among other things:

It has been reported that 30% of teens have credit cards and that this group has $153 billion to spend. That now known, it is easy to see why the credit card industry is marketing to this group so intensely.

Teaching these teenagers about finances and credit issues is also becoming a part of the internet. Some sites to visit for learning are:

If you are not sure about your debt status, keep reading, you will gain some useful data to determine if you are in debt.

Do you know there are warning signs of too much debt? Do you know them?

Today more and more Americans are drowning in debt. Some are not even aware that financial disaster is just a signature or swipe away.

There is a fight going on with credit scores. It is the FICO credit score against the big three credit bureaus. Read on for details.

FICO, Fair Isaac Company, is the creator of a system to give consumers a credit score. A credit “score” simply assigns a number to indicate how much risk you pose as a borrower. Fair Isaac’s formula for scoring is the one lenders have chosen to use as they like it the best.

The three big credit bureaus are Equifax, Experian and TransUnion. They are private companies that each track your accounts, balances and payment habits which make your credit report. They recently worked together to make a new credit score call VantageScore.

There is so much competition in the world today, so much so that credit cards are offering perks that you may have only dreamed of.

I used to be that only the rich hired servants to make life easier. Now many have servants. So the rich have a new scheme, they get better credit cards, too.

How could it be that a credit card is better? Answer these questions regarding your current credit card: has it gotten backstage passes to a Rolling Stones concert, an invite to an invitation-only private shopping at Saks Fifth Avenue, personal assistants and concierge services? If you answered no, then you are not a holder of a prestige credit card such as the American Express Centurion, Visa Signature and World MasterCard cards.

There are some things that can be avoided and bankruptcy is one of them. Read on for action that can be taken to sidestep bankruptcy.

Many bankruptcies can be avoided by practicing good money management. Here are some basic steps you can and should take:

Sometimes the things you do not know can hurt you. What is your bankruptcy IQ? Read on for some information that may help increase your understanding of bankruptcy.

Bankruptcy isn’t something you like to think about, but you may find yourself considering it at some point in your life. How do know if it’s the right thing for you?

Let’s start with information on what it is. Bankruptcy is a federal court process that helps individuals and businesses repay their debts under the protection of the bankruptcy court (Chapter 13 Bankruptcy) or wipe their debts out altogether (Chapter 7 Bankruptcy). When you file for bankruptcy, an automatic stay goes into effect which prohibits your creditors from taking action to collect the debt without the approval of the court.