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Military Life/Personal Finances/Financial Problems

SECNAV Message to the Fleet on Predatory Lending
  Warns of negative impact on fleet readiness by this practice.

Payday Loan Victims Face Security Clearance Problems  
  Double whammy for Sailors and Marines victimized by predatory lenders.

'Phishing' Scam Targets Thrift Savings Plan Participants
  One more attempt to steal your personal identity and get your Thrift Savings Plan, TSP, retirement program information.

Phishing Scam Targets E-Mails on NKO  
  NKO users are potentially vulnerable to this scheme which is designed to steal your identity through credit card and social security numbers, banking information and passwords into protected internet sites.

Navy Urges Sailors to Take Steps to Avoid Identity Theft 
  Don't let thieves gain access to your personal information.

Servicemembers Civil Relief Act Overview  
  The Soldiers and Sailors Civil Relief Act was updated by Congress

Beware of Loan Sharks
  Gene-Thomas Gomulka - Author of The Survival Guide for Marriage in the Military - gives a practical example based on his personal search for a $500 loan.

Internet Crime COMPLAINT Center (IC3)  
  E-Bay calls customer greedy for losing $2400 to an e-Bay scammer, but there is a place to complain about the rapidly expanding arena of cyber crime.

IRS Offers Filing Season Assistance to Hurricane Victims
  Navy hurricane Katrina, Rita and Wilma victims may need special assistance during this tax season. LIFELines and IRS have teamed to provide this link to IRS help.

IRS Deduction Changes for Car Donation
  Beginning with tax year 2005 there are significant changes in what you can deduct for the contribution of that old car in the driveway to a charitable organization. Make sure you get it right or you could get stung!

Income Tax Refund Anticipation Loans - Payday Loans by Another Name  
  Refund anticipation loans - RALs - are extremely high interest rate loans made available by tax preparation companies to unsuspecting clients who want to get their refund on the spot rather than wait 7-14 days for delivery from the IRS.

How Not to Get Hooked by a Phishing Scam  
  If you receive an e-mail from your mortgage company or bank asking for personal information don't answer the mail.

Dollars and Sense
  Counselors at Fleet and Family Support Centers report that one of the principal reasons for divorces among military couples involves finances. Conflicts can often arise over how a couple manages their income.

What Is In Your Pocket?  
  The Navy Office of Personnel has developed a program to train and advise you about your personal finances. This article asks "What is In Your Pocket?" You maybe surprised at the answer.

Tax Time: Where are My W-2s?
  This article is about the DFAS electronic delivery of W-2s. Now its fourth year, myPay is the quickest, most efficient place to get as many copies as you would like of your 2006 W-2s.

There's Nothing Funny About Taxes  
  Who is responsible for your medical record? Who is responsible for your military record? And, who's responsible for completing your 1040 and filing your income taxes? The answer is the same - YOU ARE!

Identity Theft: A Secret Crime
  It doesn't take much for someone to steal your identity...your address, Social Security number, credit card number, or telephone calling card number. No one is safe. Yet there are ways to minimize your risk. Learn how to protect yourself and not become a victim.

NMCRS Education Programs  
  The Navy and Marine Corps Relief Society (NMCRS) offers programs that provide a source of education financing to eligible Navy and Marine Corps families in order to help them pursue their academic goals.

Do You Pay Your Bills Late?
  Are your bills piling up at home? Do you even know when they are due? If you don't pay your bills on time, the consequences could be costly, resulting in poor credit, late fees, and even repossession.

Think Before You Write a Bad Check  
  You found that item you just have to have. Unfortunately, you don't have the money in your account to pay for it. Stop and think! Writing a bad check is illegal, it can lead to large fees, debt, jail, and even separation from the military.

The Facts About Wage Withholding  
  This article is about wage garnishment (garnisheeing) and involuntary allotments, discussing child support, alimony, and other kinds of debt.

Fiscal Therapy: Alternatives to Bankruptcy
  There are alternatives to bankruptcy. This article explains why bankruptcy should be the last resort, what services are available to Sailors and Marines, and what not to do.

LOI and Bankruptcy: It Doesn't Have to Be You  
  If you neglect to pay your bills on time, creditors can contact your command. This is normally done through a letter of indebtedness (LOI). Learn about the cause and effects of a LOI and what happens when you declare bankruptcy.

Facing the Financial Fallout From Forfeiture  
  The Navy has a strict code of conduct that Sailors must adhere to. Breaking the code usually results in military punishment. If you do something that results in NJP and a forfeiture of your pay, you may be in for a difficult financial period. However, there are things you can do to ride out the difficulties.

Clean Up Your Credit
  Your future financial dreams depend on a good credit rating. Learn how to manage your credit, getting a copy of your credit report, how to correct mistakes, credit risk scores, late payments and avoiding scams.

What is a FICO Score and Why Should I Care About It
  If you try to buy a car or home the financing agency will do a credit check from one or more of the credit agencies. Based on the way you handle finances reported to these agencies you will receive a score which will determine your eligibility to receive financing.

Help Yourself, Help Your Shipmate  
  The mission of the Navy-Marine Corps Relief Society is to provide, in partnership with the Navy and Marine Corps, financial, educational, and other assistance to members of the Naval Services of the United States, eligible family members, and survivors when in need. Learn how to apply for assistance, volunteer your time, or donate to the Society.

Spouse Career/Life Course  
  A course outline provided by the Spouse Employment Assistance Program.

    

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