Bruce Williams
http://www.NewsAndOpinion.com |
DEAR BRUCE: I received several checks in the mail from one of my credit-card companies, with which I could transfer balances and so on. I'm sure you're familiar with what I'm talking about. The company stated that I could use these checks today to save on their low fixed rate that lasts until the balance is paid in full. As long as I kept my account in good standing, this great low rate wouldn't increase. Guaranteed! Well, I used one of these checks back in October 2007. When I got my first billing statement, the interest rate was four times what they said it would be in the letter that came with the checks. I called the credit-card company several times, but they won't give me a straight answer as to why the interest rate is much higher. Is there anything I can do? — T.Y., via e-mail
DEAR T.Y.: The checks that you receive from credit-card companies are very rarely a good deal. Often, there's a minimum fee assessed just for writing the check. When I receive these letters, they go into the shredder immediately. By all means find out what it's going to take to get you out, and then, if you want to fight with the company, do so. Hopefully, you still have the original letter, which can be used for your fight. In my opinion, the checks that we all receive should be destroyed, never used.
DEAR BRUCE: A very good friend of mine has passed away. Before he died, he told me that he had willed me some money. I have contacted his son, but he said it is in probate court. How long should I expect it to take for my "inheritance" to be released to me? — J.P. in Pennsylvania
DEAR J.P.: Unhappily, there is no standard amount of time that it takes to probate a will. If the will is simple, no one is contesting its conditions and the assets are relatively liquid, it should be only a matter of weeks. If, on the other hand, things are a little sticky, the process may take much longer. For example, his son may decide that his father was not in the best of health when he added you to the will, or all of the assets may be tied up in relatively nonliquid investments (such as real estate). Given all this, you can check periodically with his son and the probate court to see what is happening.
DEAR BRUCE: I am 62 years old and want to get my Social Security payments. The people at Social Security are making it difficult. They say that I made too much money last year. Can you help me? — Frustrated Reader, via e-mail
DEAR FRUSTRATED: I don't know any prohibition on how much money you earn or collect. If you are 62 years old and willing to take the reduced payment, you can start collecting Social Security. As long as you have everything in order, there is nothing to stop you from collecting.
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Send your questions to JWR contributor Bruce Williams by clicking here. (Questions of general interest will be answered in future columns. Owing to the volume of mail, personal replies cannot be provided.) Interested in buying or selling a house? Let Bruce Williams' "House Smart" be your guide. (Sales of the book help fund JWR).
