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BEN'S MAILBAG: THURSDAY, JANUARY 3, 2002
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Dear Ben: This has had very little publicity. Please share with your co-workers and family members. The new Texas drivers' licenses has this number in small print on the back just above the bar code: 1-800-525-5555
It's for assistance on the highway. A service truck will be sent to you, state run, paid for with your taxes. Though you’d like to know.
SW in Dallas
Dear SW: Let’s stop the latest silly e-mail roaming the Internet right now, shall we? WRONG!!! If you call this number, you’re going to pay for the tow truck that shows up; according to the
Department of Public Safety website:
"If a tow truck is ultimately dispatched, the motorist is responsible for any costs incurred. Some cities and agencies do have courtesy patrols and roadside trucks to provide non-towing services and they may be dispatched by the local agencies when appropriate. These two points are misrepresented in the widely-circulated e-mail that has led to an increase in inquiries to the Roadside Assistance Hotline. Examples of when a motorist should call the Roadside Assistance Hotline include: stranded with car problems, hazardous road conditions, debris in the roadway, suspicious activity at a rest area, and obviously intoxicated or dangerous drivers. The Roadside Assistance Hotline is not intended to replace 911 as an emergency number; 911 should still be the first option for emergency situations." Can we add
"don’t be gullible" to your list of New Year’s resolutions since it’s still January? One more time and altogether now:
"If it sounds too good to be true....."
Dear Ben: I have three children, a stay-at-home wife and $35,000 in debt. We’re good people, but have made some bad money decisions along the way. We need a fresh start and a Chapter 7 [bankruptcy] seems the best route. What do you think about filing your own bankruptcy petition? I checked out a book from the library entitled “How to File for Chapter 7 Bankruptcy” by Elias, Renauer, Leonard & Michon (it’s a Nolo Press book).
KW, via e-mail
Dear KW: I like Nolo Press' line of self-help book. But at the risk of sounding harsh, I think the notion of filing your own bankruptcy petition/paperwork is insane. Bankruptcy is a serious and critical legal maneuver that must be handled correctly. You wouldn't do your own brain surgery would you? Yeah, I know that's a bit of a comparison leap, but one fact is certain: You’re about to pull the ripcord on your creditors so you'd better do it right and make sure your house is in order so all of your debts and contingent obligations/liabilities are properly disposed of. Pay a qualified attorney the money and get on with your life. And I don’t want to hear the "I’m broke so I don’t have any money" line of logic, either. I’d be willing to bet that you've got the money. That’s right...you’ll have all of the money needed to hire an attorney if you quit paying all of your un-secured creditors that you’re about to flush in bankruptcy court. Don't mess around on this one. Do it right the first time or risk serious, long-term consequences.
By the way: Now that the emotions of the holiday season are behind us and the bills generated over the last 6-8 weeks are showing up in your mailbox, the reality of your own personal financial condition may be clearer (and more depressing) than ever before. Perhaps your New Years resolutions should include biting the bullet and starting over; bankruptcy is one alternative that the credit counseling services hope you won’t consider. (If you don’t seek their advice and assistance, they won’t have a chance to collect any "voluntary" commissions on the monies they collect in their
"non-profit" role of debt repayment assistance counselors.) The latest insights and developments concerning proposed bankruptcy laws changes are available on my website:
www.bendover.com/control.asp And while you’re at it, now’s a good time to get any loose ends tied up and resolved with our friends at the IRS; more information on how to start the process on your terms is located here:
www.bendover.com/irs.asp
Dear Ben: I've been following your advice about becoming a more aggressive and empowered consumer and decided that I’ve been paying too much for car insurance. I've been paying the same amount for almost two years...and I know the value of my car has had to have gone down during this period. So I called my insurance company’s “Customer Care” line and (following your advice) clearly stated my case. Their representative said she’d see what she could do and within minutes immediately slashed almost $200 off my policy on the spot! Furthermore, if I could come up with proof that I’d completed a defensive driving course within the last three years, I could save another $120! She apologized about the fact that I my rates hadn’t gone down; I've been a loyal customer for eight years and my policy should’ve been automatically reviewed and the lower rate passed along. You’ve said it before but it’s worth repeating again: It pays to specifically ask for what you want!
Linda in Dallas
Dear Linda: Thanks for the success story. I predict there’s going to be a flood of phone calls over the next few days to insurance companies from consumers requesting immediate premium reviews. As in life, always remember the worst thing that can happen: Nothing. You’ve got everything to gain, so call them and take a shot! By the way: If you can’t find your Defensive Driving Certificate of Completion, contact the Texas Education Agency for a duplicate copy: (512) 997-6524. For $10 (cashier’s check or money order returned with a signed request form that they’ll fax or mail to get the ball rolling) they’ll help you save some big bucks on your insurance premiums.
Dear Ben: Is it illegal for gift certificates to have expiration dates on them? I don’t think it’s fair for something that has a cash value to become worthless.
Tim in Los Angeles
Dear Tim: You’ve got a great question that’s especially timely as the dust settles on the recent barrage of holiday gift giving. I’ve got good news, and I’ve got bad news: According to California State Civil Code (section 1749.5 if you’re keeping score at home), as of January 1, 1997 it became
"...unlawful for any person or entity to sell a gift certificate to a purchaser containing an expiration date. Any gift certificate sold after that date shall be redeemable in cash for its cash value, or subject to replacement with a new gift certificate at no cost to the purchaser or holder." Unfortunately there’s no such protection that I’m aware of for Texans, which opens the door for me to open your eyes to the world of gift certificates and rebates.
Businesses love to sell gift certificates for several reasons. It gives them a chance to create a new customer that may not have ever utilized their goods or services if it hadn’t been for the gift certificate. It also gives the business instant cash for a service or product to be sold sometime in the future; for now it's all income with zero (or very little) expense. But businesses really love selling gift certificates because a surprisingly large percentage of them are never redeemed. They're either lost or "discovered" after the expiration date, netting pure profit for the business. That's why lawmakers in California outlawed gift certificate expiration dates, and this is why Texans need to be sure they understand the rules of the gift certificate game before they buy. ALWAYS read the fine print on any "pre-paid" type of purchase. Dover’s Rule? No expiration dates are acceptable; certificates must be good until they're redeemed or replaced—NO EXCEPTION! Always make sure you understand the fine
print; if you need a magnifying glass to read the "Rules & Conditions" you can almost always bet that they're stacking the deck against you. Especially when it comes to those prepaid/long distance calling cards. Companies love selling them because they're incredibly profitable due to
"spoilage:" Most calling cards will expire before the value is used up, meaning pure profit for the companies selling them. Most calling cards are valid for a finite period of time;
"the clock" starts running as soon as the card's initially used, so beware! Be wary of other hidden charges such as "per call/origination fees" that eat up the card’s face value even faster. Learn more about how to buy calling cards:
www.bendover.com/callingcards.asp
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