Good Tuesday morning! Here's your
Dose of Dover
...your only reliable source for un-common sense advice,
insights and cover-your-backside strategies that you
won't be able to find anywhere else!
Take your best shot: Try to put me out of a job!
Forward this e-mail to everyone in your Address Book and
with any luck, we'll make everyone a little smarter in 2003.
Spread the word and share the wealth of information
on our award-winning website.

Tuesday, January 14, 2003:

Even if you do read the "fine print," what you end up depositing in your bank account may not be what you thought it was! Just because a major bank promises to charge you a certain interest rate doesn't mean that they'll really follow through on their promise: As crazy as it sounds, sometimes the biggest banks are playing the biggest financial games. The nation's fifth largest bank has their butt in the proverbial crack thanks to some unsolicited "instant loan" checks they mailed out recently. Read more about it here...

Ben's [BLANK CHECK IN THE MAIL/INSTANT LOAN] Bottom Line?
1. Every "instant loan" offer you receive in the mail should be highly suspect: No matter what the lender says, you can bet that any loan you agree to through this method is going to be expensive.

2. Remember, you don't have to sign a "traditional" loan agreement to paint yourself into the traditional corner of debt hell, anymore: These "instant cash" advances in the form of ready-to-deposit checks are just as effective when it comes to making your (financial) life miserable.

3. Anytime you receive any sort of "check" in the mail, even if it's "drawn" on one of your credit card lines of credit...shred it immediately: Or burn it. Never just throw them away, and never think that just because you tore it up that the "threat" is now gone. The bad guys know what to look for and are industrious enough to piece the check back together in order to read the name and bank routing information, enabling them to go print their own and make your life even more miserable in 2003!

Do you know who to complain to if you lose your luggage the next time you fly? Believe it or not, the rules have changed and it's not for the better: The TSA is expecting to have a "luggage policy" in place by the end of the year...but that's not gonna do any of us much good right now:

1. Under current federal law, airlines are required to reimburse passengers up to $2,500 for lost or damaged luggage: If you need more coverage, you'll need to buy additional insurance. The airlines are getting edgy about this because they're worried about getting stuck with bills for luggage that was lost or stolen and wasn't even in their control!

2. If your luggage has been lost or is missing, you'll need to file TWO complaints: One with your airline and the other with the Transportation Safety Administration's Customer Response Center. The TSA's Response Center/Customer Service number is: (866) 289-9673
3. Sometime in the next coupla weeks, the TSA will begin offering luggage "seals" to passengers: If a bag has to be opened, screeners can "snip" the seal and replace it with a different colored seal so passengers will know their luggage has been opened. TSA security personnel will supposedly place a note inside your bag letting you know that it's been searched; they're also talking about placing a sticker on the outside of the bag as well.

Your wake up and smell the coffee reminder? [Especially now!!!] Don't pack anything valuable in your checked luggage. No electronics, no jewelry, no medications...nothing! Read more from the TSA's website here...

The Benjamin Dover Show goes national...(for a couple of weeks, anyway): Gotta question and haven't been able to get through to Ben's show on KFI-Los Angeles? Well you've hit the talk radio advice lotto, Big Shot! Call Ben this Saturday, January 18, 2003 from 12n-3p ET...11a-2p CT...10a-1p MT...9a-12n PT...7a-10a HT. It's toll-free, so quit your whinin'...(800) 501-7080. Click here to listen live via WTAM/Cleveland...

The credit card companies and banks have spent over $800 million trying to get the bankruptcy laws changed. With a new Congress back in session, should you be preparing to pull the ripcord in the next few months? San Diego bankruptcy attorney John Colwell gave us an update on the outlook for the changing bankruptcy law landscape. Click here for the latest summary/progress report on bankruptcy reform...

Can you imagine what having a name like Charles Manson, Jr. or Ted Bundy, Jr. or Adolph Hitler, Jr. would be like?!? If you (or someone you know) is expecting a child, I'll tell you why you (they) are absolutely nuts if you make that kid a "junior," but first...take a moment to read the story of Jamie Rodriguez.

Ben's Baby-Naming Bottom Line?
1. Naming a child after a father can be a double-edged sword 20 years down the road. Dad never knows how that sweet little baby's gonna grow up, and Junior never knows what sorta financial brain damage Dad's gonna get himself into. Do yourself a favor...check your ego at the door and don't name the kid after the father. Depending on who self-destructs first, it could be a source of problems forever.
2. Common names are bad enough when it comes to credit and especially collections information confusion...but throw in a Jr. or "III" at the same address and you're asking for trouble. Let the kid have his own identity...no Juniors or IIs, IIIs of IVs.

Here's Ben's Top 5 Traps that are set and waiting for you to step into in 2003: From creditors and credit bureaus to car dealers and insurance companies, it's a mine-field loaded with consumer nightmares that you can avoid:

1. Your credit card company loves to move the goalposts: Assume nothing when dealing with them! These clowns are praying that you stub your toe:

a. They'll watch your credit scores and the minute they think you've become "a higher risk" because you may be carrying a higher debt load-or you are victimized by erroneous information or identity theft on your credit report-prepare to see them jack up your interest rate. You don't have to have "done anything wrong" on your account. In fact, you could be on time and under your credit limit, but in most cases it simply doesn't matter. Every month you must check the fine print at the bottom of your statement to make sure you're paying whatever interest rate you signed up (or thought you signed up) for.

b. Changing your due date: They'll unilaterally move your date "up," reducing the number of "float" or "grace period" days without any fanfare. Why? Because they want you to mail your payment late; late payments = late payment charges/credit card company profits...so be careful. Every month: Examine your due date and give yourself at least 7 business days to get your payment there by mail. Paying on line? Pay at least three business days prior to the due date. Don't give them a chance to slap you.

2. Old credit card debts: Be careful for the newest trick that promises to gain momentum in 2003! If you get a pre-approved credit card offer, read the fine print closely! This year's favorite new tricks?

a. Suppose you had a Visa card that you defaulted on 5 years ago; you owed them $3,000 and never paid. Now you get an offer in the mail for a brand new credit card with a $5,000 limit...and it's pre-approved...no strings!!! Just sign here and it's yours...and you do.

b. You get your new credit card in the mail a few weeks later, but it's not what you were expecting, because you obviously didn't read (or understand) the fine print. The offer you just bit on came from the same bank you stiffed 5 years ago. Since they knew they were outside the "collectability" statute of limitations, making them unable to collect the old balance from you, they offered you a new line of credit, with one not-so-little string attached:

The old balance-with accrued interest and assorted fees-has now been charged to your new credit card. By the time it's over, that old $3000 debt is now worth $5,500...and your bank was more than happy to take the old balance and charge it to your new credit card! Oops! That $5000 limit is now shot to hell because you've got a brand new $5500 debt and (so sorry to inform you of this) but you're over your limit by $500! Now the interest and over-limit fees really start to stack up...and you're up the creek.
c. Credit guard insurance: You lose your job? We'll pay off on your credit card balance! Really? Not so fast...
- The guidelines are usually so onerous, by the time they really do begin to pay off, it's at least 90 days down the road and your credit scores are shot by then if you haven't been paying them.
- Define unemployed! Define disabled!! Define [fill in the blank]!!! Once again their sales pitch sounds good, but their willingness to pay off when you need it most is like pulling teeth and the resulting experience? Horrific at best.

3. Credit bureaus: Ohmygod! Identity theft has reached epidemic proportions! You'd better sign up for:

a. Our credit watch services for only $79.95 a year. That way, you'll be the "second" to know [the credit bureau will always be the first] that there's negative garbage surfacing on your credit report. Don't waste your money on this...pull your credit report a couple of times a year for $8-$12 from each credit bureau and scrutinize the "Inquiries" section. And if you've been turned down for credit, insurance, housing or a job because of your credit, you'll get a free copy of your report, a right guaranteed by federal law.

b. Identity theft insurance! We'll "pay off" and provide you with compensation if someone clones your ID. The jury's out on this insurance...too new to rate...but I'm skeptical because it sounds too good to be true. Skip it.

4. We'll protect you from the IRS! We'll go back and audit your tax returns from the last 3 years and get you a ton of money-your money-back into your pocket! We'll represent you if you ever get audited by the IRS!

These companies bait you with all sorts of promises, free books on tape is one of their favorite hooks, and then they get you on the phone and brow-beat you into buying one of their programs. Plan on spending $2,000 or more...for a bunch of hype. And why do these companies always seem to locate in Las Vegas, anyway? I wouldn't touch these clowns, period. Altogether now: "If it sounds too good to be true....."

5. Car deals: Just spend an extra $18 a month for an Extended Service Warranty (ESW) on that wonderful car you're about to buy and you'll be protected! Sure you will...
a. Do the math: That $18 (or more, per month), by the time you tack on interest, could end up costing you thousands over the term of the contract.
b. Extended Warranty Contracts (ESWs) usually only kick in and pay off after the factory warranty expires: So if you trade out of your cars before they're paid off and before the factory warranty expires (especially relevant for those of you that lease your vehicles) this is gonna be a waste of cash. The car dealers love to sell 'em because they make some fat commissions on them!
c. Good luck getting them to pay off: If you use-or your mechanic uses-just one wrong term or buzzword, you could be toast. For example: If they mention a rubber boot around a defective shock absorber worn out, this off-hand remark could cost you your ability to collect on what can be a major repair...and end up in that vehicle's "permanent file" forever, making future claims impossible.

Why? Because ESWs frequently (and intentionally) exempt rubber products. The minute they hear that something's broken and there's a rubber-related element to the potential claim, you're toast. Bottom line? They're always gonna do their best to not pay off on your claims. Beat 'em to the punch: Either don't buy one of these ESWs or make sure you've got a bright mechanic on your side who'll properly phrase any pre-authorization discussions or correspondence with the company in your favor.

Share the wealth! Tell your friends, family members or co-workers about the most reliable source of insight, ideas and scorched-earth advice available on the planet! Get 'em to sign up for the [free] weekly Dose of Dover newsletter right here on our award-winning website!

United Airlines is doing some things they hope will entice you to fly their friendly skies...and it could earn you free tickets a lot faster...but there's a catch. (There's always a catch!): Please remove all of the metal objects from your pockets and read all about it here...

Ben's Bottom line "insider secret" on airline deals? If it's a "real deal," something worthwhile like a double-miles offer, then you should see their competitors quickly match it. If the competition ignores a "deal?" Then it's really not a deal!

I never thought we could find anything useful from anyone who's involved with child pornography: Until I came across this story about this pervert in Florida...

Ben's important lessons for everyone that can be learned from this mess: Aside from seeking psychological counseling for having an appetite or interest in child porn, the real mainstream payoff should be obvious:

1. Just because you throw something away...taking your trash out to the dumpster or putting it out on the street for collection doesn't get you off the hook. If someone comes across something that's trace-able back to you and reflects illegal activity, you're dead meat!

2. Expect that anything you throw away could end up in front of your boss...or your neighbors, your spouse or significant other, or the police, a judge or a jury. And of course...it'll end up in the media if it's juicy enough.

3. Of course you always need to shred anything with your name and address on it: Even if it's as mundane as a catalog...shred it!

4. Many of you have taken my advice and have begun using mail drops or gotten a mail box from the Post Office. Don't be lulled into a false sense of security on that front, either! Never throw "junk mail" away at a facility like these. Remember: Trash receptacles are open game and anyone can sift through these and take whatever you've left. Catalogs, solicitations, you name it....don't throw anything with your name on it, away! Shred 'em! Burn 'em! But don't just toss 'em!

5. Any computer media (like the diskettes that got this former child porn collector into hot water) must be properly erased or better yet, burned or shredded! "Running a magnet" over a diskette (like the dope in Florida did) simply isn't good enough. If there's something critical, really private or even criminal on a diskette, you need to use one of those bulk erasers, like we've used in radio for years. Bulk erasers are big electromagnets that really put out some juice and are designed to thoroughly erase magnetic media. If you've got diskettes or videotapes [attention Pamela and Tommy Lee or other amateur home movie producers] that you wouldn't want to be embarrassed by if they fell into enemy hands, go drop $40 on a bulk eraser at Radio Shack. My advice? Be safe: Erase all used computer or video/tape recording media, and then burn it. You really can't be too careful!!!

6. Other computer media that can get you into trouble? CDs! You'll never be able to erase a CD that's been "burned" during the creation process. Get out a pair of heavy-duty scissors and cut the CD up...and then burn it!

7. Speaking of shredders, spend the dough and buy yourself a good one: All of the office supply places (like Office Max, Office Depot, Staples, etc. or warehouse stores like Sam's or Costco have 'em. Spend the extra money and buy a shredder that cross-cuts, not strip cuts. Cross-cutting shredders will be more expensive, but are worth the extra cash; many of the models available now have built-in credit card shredding features that are terrific! Expired or unwanted credit cards or ID cards can be pulverized into plastic confetti in seconds. It's far more efficient that a pair of scissors and makes it virtually impossible to piece back together the card.

I bought my Aurora Cross Cut shredder at Staples...they've always got rebate deals on these [I got $40 back when I bought mine last summer] making the "net" price I paid under $80. The same shredder's available on their website for (a net of rebate price) of just under $60...so go buy one!

Be sure you've noted our new time Sunday mornings: The credit counseling services are out there promoting their angelic-services in full force, but it's what they're not saying that could end up haunting you/your credit reports for years! The truth about credit counseling-especially those "non-profit" outfits...just one more compelling reason why you can't afford to miss the smartest two-hours in the history of talk radio. The Benjamin Dover Show: Sunday, January 12, 2003: Go synchronize your watches and put the new time on your calendars: 5-7am (Hawaiian Time) 7-9 am (Pacific Time) 8-10 am (Mountain) 9-11 am (Central) 10 am-12 noon (Eastern) 3-5 pm (GMT) 8-10 pm (Baghdad [Iraq, for now anyway] time) on KFI-AM/640, Los Angeles!