RiverNet
  • Member for 10 months
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  • Pueblo, CO, USA
What does "not touching the principal" actually mean?
42 votes

"Not touching the principal" simply means that you leave the principal amount of the trust fund alone and only draw off the interest or dividends it accrues. So, let's say you inherit $10 ...

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Is this check safe to deposit?
36 votes

I would deposit the check but not spend the money for at LEAST two weeks to give it plenty of time to make its way back to the issuing bank. You didn't indicate the nationality of the check but I'll ...

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My landlord claims I didn't pay rent even though I can prove I did - What can I do?
35 votes

(ANSWER ASSUMES QUESTION IS U.S. BASED) --- UPDATE --- IN RESPONSE TO DISCUSSIONS IN THE THREAD, it would be helpful if everyone knew whether you've actually talked to your landlady, or is your only ...

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How do websites ban prepaid cards?
30 votes

The first six digits of a Visa or MasterCard card comprise the Bank Identification Number (BIN) and card type (Visa, M/C, etc), which identifies the issuer, the next 9 digits (when a Visa or M/C) are ...

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Is it a scam when a contract employer asks me to forward money to other workers through my bank?
30 votes

This is definitely a scam, and it's a variation of the 'money mule scam' scam, where they send you a check, asking you to deposit it and then send a portion back to them or on to one or more others. ...

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If a bank is supposedly robbed, can you still withdraw from that bank?
Accepted answer
29 votes

In the U.S., the average "take" from a bank robbery is around $6,500 according to the FBI, so I doubt a robbery would so severely deplete the bank's cash holdings that it couldn't continue ...

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Why do banks seem to be indifferent about identity theft?
25 votes

I understand your frustration at feeling as though banks may not care about fraud, but they do. You have to realize though that there are limits to what they can do. It is up to the police or other ...

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Someone asked me to login to his bank account and make transfers to another account
24 votes

This sounds like the definition of a "confidence scheme", in which the scammer does things which at the beginning seem legitimate or, even if suspicious, work out exactly as they promise ...

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Is it a scam if a non-Amazon merchant sends two items from Amazon when I ordered one?
15 votes

I had Amazon themselves do something similar last month, when an order somehow disappeared in transit (at one of Amazon's warehouses no less!). They created a new order and shipped it to me, and a ...

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Why can't my LLC get a credit card when the owner has credit history and a good credit score?
15 votes

You could be hurting yourself by submitting so many credit card applications, which can be a red flag in many systems regardless of your personal credit score. I realize you say that according to ...

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What is the purpose of budgeting if all I need to do is look at my bank/credit card statement?
13 votes

That's like saying "I know where I just came from, so why worry about where I am going or how I got here?" (grin) Budgeting is figuring out a) how well you managed your spending in the past ...

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Money Order shredded by HOA, what do I do?
12 votes

Western Union does have a form you can complete for a refund of a money order: Link to PDF form for refund As it says on the Western Union site, depending on the state the money order was purchased in,...

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Using a friend to move cash into my checking account
11 votes

There are no LEGAL issues really (assuming you're in the U.S., of course), although when you say "a few thousand" dollars, you might be careful that your friend might have to answer some ...

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What will happen if I deposited a check that was part of a scam and I already spent some of the money?
7 votes

There is information missing from your post which makes giving you a clear answer difficult. For instance: Who discovered this was a scam - you or the bank? Has the bank already paid the checks you ...

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Should I still pay the minimum amount due even if my outstanding amount is 0?
7 votes

You can always pay it now to avoid the possibility of a late fee (even though you shouldn't actually even owe at the moment) and then contact customer service to follow up. At worst, they'll post your ...

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AMEX made my dad wait 77 minutes to approve his credit card purchase
7 votes

Based on your own info, your father hasn't made such a large purchase in years. If you were Amex, wouldn't you want to be certain before approving such a transaction? It is likely that Amex has an ...

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What is digital money/currency?
7 votes

Where else would you keep track of your money? MOST currency is digital these days, and somebody has to be the keeper of the records. Your employer doesn't hand you a bunch of cash on payday - they ...

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If I pay off a lien on a car, do I own that vehicle?
7 votes

First and foremost, if your boyfriend is deceased and didn't leave a will then that's an entirely different situation, in which case his estate goes into probate and everyone can fight it out in court ...

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Is this a 'trust fund scam'?
6 votes

I can't tell you how many times I've said this to people on similar questions - If you have to ask the question "Is this a scam?" then the answer is almost always YES!!! Always ask yourself ...

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Can a retailer charge me sales tax after being charged?
6 votes

You didn't indicate where this took place (U.S. or elsewhere), but at the end of the day, if they're supposed to charge you tax and it was legitimately a systems issue that prevented collection at the ...

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New Home Developer wants Pre-Qualification
5 votes

Most likely it is to help them secure their construction loans to build the community. By being able to demonstrate that prospective buyers can secure the financing needed to buy their homes, the ...

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Is it better to have/use more credit cards to build credit history/score?
5 votes

Age of accounts, the mix of credit types (revolving, installment, auto, mortgage), utilization rate and payment history are the key metrics of a credit score. If you're using 30% or more of your TOTAL ...

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How can I finance a car at 17 years old with no credit or co-signer?
5 votes

Buy a cheaper car and find out how to invest the rest in something SAFE that you won't touch for at least the next 10-15 years. If you have that kind of money at 17, you need to see it as a gift of a ...

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Can the bank legally deduct an amount from the coins I gave them?
5 votes

While I've never seen anything obviously posted in a bank about their policies on accepting coins, I think the wisest course of action when you go into ANY bank you've never dealt with before or don't ...

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How badly will my credit score be affected if I don't pay back a small margin debt?
5 votes

ANY unpaid debt is negative for your credit. That being said, there are so many different scoring models, even by the same bureau, that it's virtually impossible to assess the consequences. Some ...

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Do Checks expire?
Accepted answer
5 votes

Short answer : YES There's no such things as a perpetual check. As a general rule of thumb (and this is a U.S. answer), checks should be good so long as the bank on which they're issued is willing to ...

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Should I exercise my options to buy stock in a company not yet trading publicly?
Accepted answer
4 votes

EDIT I think the operative phrase in your post is that this involves stocks/options you "haven't been able to afford to exercise until now" You're already acknowledging that affordability of ...

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Possible scammer claims to be "missionary" for the UN
4 votes

If you have to ask if it's a scam, the answer is already obvious. That's the way I generally answer these. Yes, they haven't asked for money yet, but they will. They have to lay the foundations and ...

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How to sell a car to a private party on payments
4 votes

What if your buyer doesn't pay his insurance (or bother to carry full coverage) and wrecks the car? Then you're reduced to having to sue for your money. You don't bear legal/financial responsibility ...

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Will home prices ever stop rising or go down?
Accepted answer
4 votes

The guarantee of what would cause home prices to stop rising would be an inflation spike serious enough to push the Fed into raising interest rates, which would put a major crimp in mortgage and ...

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