Save, Secure, Simplify—

A To-Do List For 2009

By Jerry Farrell, Jr.

Because we’re all looking for ways to protect our security, simplify our lives, and save money, here are a few quick tips for the New Year.

1. Check your credit report. Through an agreement with the federal government, you can get your absolutely free reports from each of the three financial reporting services once a year at annualcreditreport.com.

Equifax, Experian, and TransUnion are required to provide to consumers on request a free copy of their credit report once every 12 months. You must request your free reports at the website annualcreditreport.com, or call toll-free, 877-322-8228. While you are allowed to ask for all three reports at once, I suggest you space your three requests over a full year.

Once you receive your credit reports, look for and verify:

Your Identifying Information: Make sure there are no errors in your name, address, current employment and social security number, or in any other personal information such as your date of birth. Make sure information is correct and current.

Your Credit History: This is a list of all your credit accounts — now and from the past. Each entry will indicate:

*When you opened the account, the kind of credit (installment, e.g., mortgage, car loan, revolving)

*Whether the account is in your name alone or with another person

*Total amount of the loan or highest balance

*How much you still owe

*Status of the account (open, inactive, closed, paid)

Confirm that there are no accounts, loans, or other debts that do not belong to you, or are still listed as open if they have been paid in full. If you have already disputed errors from a past credit report, verify that those errors have been corrected. Finally, make sure that the status of your accounts is correct. Some accounts may be inaccurately marked as delinquent or in collections.

Public Records: This section lists financial-related problems, such as bankruptcies, judgments, and tax liens against you. Make sure nothing is here that does not belong to you. These items can ruin your good credit score.

Inquiries: This section includes a list of everyone who has asked to see your credit report. “Hard” inquiries are whenever you (or someone in your name) apply for credit. “Soft” inquiries are from companies that are monitoring your account to see if you qualify for their promotional offers.

Take action to correct any errors that you find in your report. Follow the instructions provided with the report, and keep a copy of your correspondence. Creditors have 30 days to respond to your proposed correction. As long as a charge is in dispute, a notice of the dispute will show up on your report.

2. Reduce junk mail and junk email: Scrub your name and address from marketers’ mailing lists with the help of the Direct Marketing Association, which offers a consumer opt-out service online at dmachoice.org/mps. You can also use this website to cut down on the junk e-mail you receive. Because 30 percent of direct mailers are not members of the Direct Marketing Association, your junk mail will not be completely eliminated, but it should be greatly reduced. You are registered for three years and can renew.

3. Cut down on catalogs: To reduce temptation to spend while eliminating the waste created by unwanted paper catalogs, go to Catalogchoice.org, a free service that does the work for you. Catalog Choice is funded by the Overbrook Foundation, the Merck Family Fund, the Kendeda Fund, the Weeden Foundation, and the Mead Foundation. Another option is to call the individual catalog’s toll-free number and ask to be taken off its list — refer to the customer number from your mailing label when you call.

4. Reduce telemarketing pitches: Sign up or renew your registration with the National Do Not Call Registry. Since 2004 the Registry has helped millions of Americans reduce their telemarketing calls. Visit the website at donotcall.gov or call 888-382-1222 from the phone number you want to register.

5. Get educated on consumer issues: Quick daily news briefs are available to you free by signing up with ConsumerAffairs.com. Consumer Affairs is a private, nongovernmental organization that gathers and reports on consumer complaints and consumer news. Articles include recall updates and breaking news about product safety, finance and related issues from around the country.

6. Learn financial basics at mymoney.gov. Twenty federal agencies provide input and information into the site. Topics include buying a home, starting a small business, planning for retirement, balancing a checkbook, and investing in a 401k.

7. Gather papers to be shredded and watch for announcements of free public shredding events. In all probability, many banks and community organizations will be offering free events or fundraisers this spring, where you can bring boxes of unneeded personal papers and have them shredded while you wait.

8. Start researching home improvement jobs that you want done. If you are going to hire someone for a job around the house, whether it is a fresh coat of paint or a landscaping job next spring, be sure to do your “homework.” Most importantly, make sure the person you hire is registered with the Department of Consumer Protection! Anyone who performs a home improvement job for more than $200 and who earns more than $1,000 a year from home improvement work is required by law to be registered. Find out who’s registered in your area by running a Roster Report from our website at ct.gov/dcp.

Hiring a registered contractor is strong protection against financial damage or loss as a result of a home improvement job gone wrong. Our state’s Home Improvement Guaranty Fund can provide victimized consumers up to $15,000 in financial restitution on problem jobs that were done by a registered contractor.

 Jerry Farrell, Jr, appointed in 2006 by Governor Rell as Connecticut’s Commissioner of Consumer Protection, is an attorney with 15 years experience. Important information about consumer affairs can be found on the Department’s website: www.ct.gov/dcp.