Payday Loans Blog

Check City's still relatively new Gold Buying Program was featured on Good Things Utah Wednesday January 27th.  Check City Manager Wendy Gibson was there to talk about how to test your gold or silver at home as well as how Check City tests your items in the store when you bring it in.  She also detailed the program, in that it is as easy as bringing your items to check city, we test them, make an offer and you can walk out with cash in hand.  Check City also offers a mail in program, where the only difference is we simply send you a check in the mail.  She pointed out that you can get between 300-500% more profit from taking your gold, silver, and platinum items into a Check City location versus mailing them in to the off the wall mailing services you see offered on television.

So, what exactly can you send and how much is it worth? Check City will accept any of the following items:

• Broken & kinked chains

• Single earrings 

• Silverware (stamped "sterling" or "925") 

• Coins (quarters & dimes 1964 and older) 

• Dental Gold 

• Gold Nuggets & Pieces

Also, the amount you get will be much greater than those from mail in places, you will see your item be weighed and tested, one lady got $400 for a set of bangle bracelets she had that were gold, another got over $100 for a bag of mismatched earrings. It is easy and prices right now are higher than ever before. 

Also, how do you test your items at home to see if they are real gold or silver?  There are a few ways to test your item for its gold or silver content.  You can do the magnet test which she talks about a little in the segment she did on Good Things Utah. You can also check the jewelry itself, many times if it is pure gold or silver it will be marked as such.  If you are unsure and can't figure out how to test them, bring them into Check City and we will test them for you. 

Come visit one of our many Check City Locations to rid yourself of your unwanted gold, silver and platinum items.  We guarantee our service is better and we will give you more for each item. Its a deal "worth" looking into. Visit CheckCity.com to for details on our Gold Buying Program.

Today Obama proposed a $33 billion bill that he hopes will encourage pay raises and increased hiring through out 2010. He expects this bill would have impact on more than a million small businesses in America.

This bill is the beginning of an effort to prove that he is going to stand by the promise he made in the State of the Union, which was to create more jobs. Obama is striving to give hope to the 10% of America who cannot find work right now.

This bill includes a $5,000 tax credit per new employee that a small business hires throughout 2010. This credit will be capped at $500,000 per business to make sure that large businesses do not take advantage of the money that is meant to help the smaller businesses.

In addition, small businesses will be reimbursed for the increase in Social Security payroll taxes that they would normally be required to pay due to real increases in their payrolls. However, this also has a roof and will not apply for pay raises above $106, 800, which is the Social Security taxable maximum. This means that the businesses will have more money to spend on new hires, wages, and investment.

Many believe that the response of the small businesses will be hesitancy to hire because they are still unsure if the demand is rising. If the demand lowers, then the business will not have aneed for workers.

The biggest concern with this bill is that the small businesses that will take advantage of these tax credits will be the one's who were already planning to hire, and it will not change anything that was not already going to happen. However, Obama believes that even if this is the case the money will still be applied to investment which can also stimulate the economy.

Some people believe that this is a false hope because most of the large equipment that companies would invest in, is made in other nations. As a result the money will drain straight out of the economy. Obama continued to reassure people by saying that there will be precautions taken to prevent people from taking advantage of the system.

In addition to this bill, Obama has consistently been reminding the Senate to pass another jobs bill. Republicans have also suggested some business tax break proposals with which Obama says that he is willing to work with.

With the constant ebb and flow of the level of taxes to pay and tax credits that you are eligible for, taxes can be very confusing. Taxes do not have to uncertain and stressful. Get friendly, professional help by visiting Check City's website to find out more about our tax services.

 

You may not know that Check City has unique social media opportunities for our customers, and even for our future customers to stay connected and up-to-date on the financial services industry, our company and a variety of useful hot topics we feel are important to discuss.  Not only can you follow Check City on Twitter, become a fan on Facebook , check out our customer testimonials and commercials on YouTube  but we also have this blog that updates daily with important information about the Payday Industry, Local Events in your area, Tax Services (During Tax Season), Other Services we offer, General News, Financial Advice and General Tips and Tricks for a variety of things.

Yesterday I posted a few of our written testimonials but there are Video Testimonials as well for you to check out. 

We will also, from time to time, send out a Press Release, annoncing the specific important pieces of information and news, such the release of the new CheckCity.com Website,  our donation to the Utah Flash Orhpanage Fund or details on our superior Lightening Tax Services.  

So if you love being online and staying connected, visit our Social Media Page which includes links to our blog, Facebook Page,YouTube video and Twitter Page. 

If you owe taxes, the Internal Revenue Service will calculate penalties and interest on the amount owed. If you have a refund, the IRS may pay you interest on the delayed refund. (Note the difference between "will" and "may" – the IRS generally pays interest on refunds that have been delayed because of slow processing by the IRS. Since most late tax returns take longer to process, the IRS "may" pay you interest on based on the extra amount of time it takes them to process your return.) If you have a refund, there is no penalty for filing late. Penalties are calculated on the amount due. Since there is no amount due, there is no penalty.

If you have a balance due on a late tax return, the IRS will calculate additional penalties and interest. There are three separate penalties:

• Failure to File Penalty
• Failure to Pay Penalty
• Interest

Each of these penalties are calculated differently so we will look at each one individually.

Late Pay Penalty/Failure to File: The failure-to-file penalty is calculated based on the time from the deadline of your tax return (including extensions) to the date you actually filed your tax return. The penalty is 5% for each month the tax return is late, up to a total maximum penalty of 25%. The percentage is of the tax due as shown on the tax return. If your tax return is more than five months late, simply multiply your balance due by 25% to calculate your failure to file penalty.

Failure to Pay Pentaly: The failure-to-pay penalty is calculated based on the amount of tax you owe. The penalty is 0.5% for each month the tax is not paid in full. There is no maximum limit to the failure-to-pay penalty. The penalty is calculated from the original payment deadline (the original April 15th filing deadline) until the balance due is paid in full.

Interest: Interest is calculated based on how much tax you owe. Interest rates change every three months. Currently, the IRS interest rate for underpayment of tax is 4% per year. The interest is calculated for each day your balance due is not paid in full.

So what can you do to make sure that your taxes are paid on time, and in full? You can come into Check City or visit us Online to see about our great Tax Discounts we have going on right now, or you can plan ahead. Make sure that as soon as you get your W2 statement you start working on your taxes, especially if you are planning to itemize deductions so that you have enough time to get them in by April 15th. Also, if you owe taxes right now, or find that you owe in the future, it is better to file sooner rather than later.  The longer you wait the more penalties you will receive. You may file for a tax extension, but try to finish as soon as you can.  Four months should be plenty of time to get your taxes done, but if you are still having problems, visit us at Check City.  We have knowledgeable professionals who are willing to help you get your taxes done on time and done right. They will also help you get the most out of your deductions.

 

Yesterday I wrote about the problems going on with Credit Card duplication with many banks around the country. Old National was added to that list of banks that have been hit by fraud, so it is now more important than ever for you to watch your cards and your finances to be sure you aren't being hit by these theives. In addition to these card copiers, there are card skimming machines that you may not know about as well. These are little machines that are either right above or below the actual credit card scanner that scan your card as well, therefore picking up your number.  A lot of places, such as Redbox have added blockers to their machines so that their credit cards cannot be skimmed (a picture is shown below). 

Just this week detectives in Sydney are heading to a city in Australia to investigate links between suburbs credit card skimming and international fraud gangs.  Yesterday an announcement was made in which it was revealed that these credit card skimmers have already made more than $50 million.  

There are problems in the United States as well, credit card skimmers have been found on Redboxes (which is what caused them to install the anti-skimming devices) and in other places, allowing these crooks to get your credit card number and use it on whatever they want.  The skimmers found in Australia however are believed to be linked to teams of criminals in India.  Hundreds of thousands were stolen from residents via there credit and bank cards in November. 

Fraud boss Detective Superintendent Col Dyson says that criminal gangs were committing armed robberies to obtains these machines used in the nationwide scam.  He also says that it is an international group that is believed to be very large.  Members of this group arrive in cities, travel around between them and then leave the country. It is believed that there are at least 50 people involved, and each has a specific function.  Six people have been arrested so far. Warnings have been issued around the country so that people will know to watch out. Criminal activity has continued to rise so the government felt that it was time to make the general public aware. 

The machines that have been compromised in Australia are called EFTPOS terminals and have been removed from the stores.

So what exactly do these machines do? The same thing that the ones in the United States do.  They are modified and can copy information stored on the magnetic strip of a debit or credit card and can be used to make further withdrawals from the account. The most common withdrawal amount coming out of the Australian frauds are $1,000 and are made overseas. Detectives are urging people to change their PINs often and regularly and to check store receipts, bank statements and be aware of how much money is held in an account.  They also say that if you can avoid it, don't write down your PIN number. 

Have you been the victim of credit card or debit card fraud? Maybe you should consider moving your transactions to cash.  At Check City there are many ways you can make cash and check transactions.  We have Payday Loans (using a check), Check Cashing (using a check), Money Transfers (Cash), Free Money Orders (Cash), and our Gold Buying Program can help you get cash when you are running a little low. 

In response to the tragedy that has unfolded in Haiti in the aftermath of the earthquake that rocked the small island nation, people across the world have opened their hearts and offered aid.  In response to this generosity, the US Internal Revenue Service announced that Americans who give to charities providing earthquake relief in Haiti can claim these donations on the tax return they are completing this season. Taxpayers who itemize deductions on their 2009 return qualify for this special tax relief provision, enacted Jan. 22. Only cash contributions made to these charities after Jan. 11, 2010, and before March 1, 2010, are eligible. This includes contributions made by text message, check, credit card or debit card. Taxpayers can receive these benefits immediately by filing their 2009 returns early, electronically, and choosing direct deposit.  They can take as few and ten days, can be deposited to savings, checkings, brokerage accounts or can be put into a Series I U.S. savings bond. You can help yourself and help the people of Haiti with a small donation!

"Americans have opened their hearts to help those affected by the Haiti earthquake," said IRS Commissioner Doug Shulman." This new law provides an immediate tax benefit for the many taxpayers who have made generous donations." 

This law will only apply to cash (as opposed to property) contributions.  These contributions must all be made specifically for the relief of the victims in the Jan. 12 Haiti earthquake. Taxpayers can deduct these contributions in either 2009 or 2010 it is up to them, but they cannot collect returns in both years.   The only other specification is that you must itemize your deductions on schedule A and you cannot claim the standard deduction. You can also not claim the deduction if you are filing the short form.

Taxpayers also need to make sure their contributions go to qualified charities. Most organizations eligible to receive tax-deductible donations are listed in a searchable online database available on IRS.gov under Search for Charities. Some organizations, such as churches or governments, may be qualified even though they are not listed on IRS.gov. Donors can find out more about organizations helping Haitian earthquake victims from agencies such as USAID. Foreign organization contributions are usually not deductable.

The law requires that you keep track of all of your deductible donations made.  For text message donations, a telephone bill usually meets the recordkeeping requirement if ti shows the name of the organization you are donating too, the date and the amount.  Be sure to keep bank records of all of the other donations made by cash, or any other monetary means.  Make sure to get a receipt from the charity showing the name, date and amount. There is a form with more rules you should check out if you are considering charity contributions.

This year’s special Haiti relief provision is modeled on a 2005 law that, in the wake of the Dec. 26, 2004, Indian Ocean tsunami, allowed taxpayers to deduct donations they made during January 2005 as if they made the donations in 2004.

To get even more of a break with your taxes, come to your nearest Check City Location or visit our Tax Preparation site online. We can help you prepare your taxes so that you can get all the money you deserve.  We strive to get you the most money possible on your tax returns.  We have professionals that have been working with taxes for over 20 years and are prepared to get your taxes in, not only on time, but with the most deductions and credits possible for your situation. Check City would also like to remind everyone to know the charity they are working with.  Unfortunately there have already been reports of scammers collecting money "For Haitian Earthquake Victims" that simply disappear after collecting.  These acts are unfortunate, for both the victims and those donating.  

Probably the most common questions we hear frequently refer to payday loans. So I have taken the time to list some of the most frequently asked questions about payday loans and their answers.  These questions and others can be found on our website under the FAQs page.  Check City has gone to great lengths to make the process of getting a Payday Loan simple, clear and concise.  A Payday Loan is no different than any other form of credit, which can have long term effects if not fully understood.  For this reason every Check City Representative explains the loan contact in detail, pointing out the terms and conditions of the loan.  A Payday Loan can be a great resource and can save you a lot of money in the long run if managed correctlyl.  However, don't consider them a long term investment, because they are meant to be a short term loan only and are expected to be paid off within a few weeks when your next paycheck is recevied.

What is a CheckCity.com loan?
A fast, convenient loan, which is usually due on your next payday.

Is CheckCity.com a direct Payday Lender?  
Yes! CheckCity.com is licensed in each state where it operates and is the direct lender of your loan (with the exception of Texas where as a Credit Service Organization, we service your loan through an affiliated short-term loan provider). That means if we approve your loan that it will be issued and serviced by us. We provide our customers the peace of mind that we are there to help from the completion of loan application to the completion of the cash advance loan.

How do I get started?
 Just complete the one-time New Customer Loan Application.  Your request will then be processed as quickly as possible and if your loan is approved the funds will be deposited directly into your account the next business day. It's that easy!

Can I apply over the phone?
 Yes, you can. To do so, just call our toll free number: (866)294-4672 and we will take your application information over the phone. We will then verify your information and fax a contract to you, which will need to be signed and faxed back. Your request will then be processed as quickly as possible and the money will be deposited directly into your account as soon as the next business day.

How do I receive the loan proceeds?
 The process is automatic and convenient. Once your loan is approved, the funds are electronically deposited into your account via an ACH transaction.

How do I pay the loan back?
Just as with receiving the loan proceeds, the process is automatic and convenient. An electronic withdrawal will be made from your account on the loan's due date via an ACH transaction. If you choose to, you may instead pay with a debit or credit card by calling the customer service line by the business day before the loan is due. 

What is an ACH Transaction?   
ACH Transaction stands for Automatic Clearing House Transaction. It is a method of electronically depositing or withdrawing funds from an account. If your paycheck is directly deposited into your account, it is done by ACH.

How much can I borrow?
Loan limits are determined on an individual basis. Your credit limit will depend on a number of factors, some of which include your monthly income, the dollar amount you may have already borrowed from other payday loan companies (if any), and other credit worthiness factors. Many states have limits on the amount which can be borrowed. For more information please check the Annual Percentage Rate Disclosure for your state. 

How long does it take to approve my loan and receive the funds?
In most cases your loan will process in less than 24 hours. 
If the loan request is submitted before 7:00:00 PM Mountain Time on weekdays, or 6:00 PM on Saturdays, then the approval process is usually completed on the same day you apply.
If you apply after 7:00:00 PM Mountain Time on weekdays or after 6:00 PM on Saturdays, or anytime on Sundays or holidays, your loan application will be processed on the next business day and the funds will be deposited into your account the business day after that.

How much will a loan cost?
The cost depends on the state in which you reside. For example, in Utah a $100.00 loan due back in two weeks would cost you $17.00, which equates to an annual percentage rate of 443.21%. This means that you would receive $100.00 either cash in store or deposited into your account, on your payday, $117 would be withdrawn from your bank account. Please see the Annual Percentage Rate Disclosure for your state for complete details.

Can I extend or renew the loan if I am not ready to pay it back on the due date? 
If you do not want to repay your loan on the due date, you may extend or renew your loan until your next payday, if you live in a state which allows payday loan extensions. Extension requests must be received by 7:00:00 PM Mountain Time the business day before a loan is due.

The cost to extend or renew a loan is an additional fee, charged at the same rate as the original loan fee.

For full details about extensions, including your state's laws, please check the Annual Percentage Rate Disclosure for your state. 

Can I pre-pay the balance on a loan?
You may pay towards the balance of a loan, in whole or in part, at any time prior to the due date. Partial payments when requesting an extension are encouraged. Pre-payment is available through the "Options" for the Current Loans on the Members Information page. There is no penalty for pre-paying on a balance and, depending on your state, doing so may result in a reduction of fees charged. Please see your pre-disbursement disclosure for additional details regarding the early pay off of a cash advance loan in your state.

Is it easy to get additional loans?
After successfully completing your first payday advance loan, additional loans are easy to request. Simply login to the Members Section and request a new payday loan. We remind consumers that payday advances should be used for short-term financial needs only and not as a long-term financial solution. Consumers who are experiencing credit difficulties should seek credit counseling. In addition, some states require a cooling-off period between payday loans or otherwise restrict the frequent supply of payday loans to a consumer. For additional information regarding your state’s governance on cash advance loans please contact a Check City customer service representative. 

What happens if I cannot pay my loan on the due date?
If you are not able to pay your loan on the due date, please contact us immediately to see what options are available. If your loan defaults, we have an in-house Account Improvement Department that will help you get your account back in good standing, and we pride ourselves on our customer service. Once a loan has been paid back, you are always welcome to borrow again from us. This same policy applies to our brick and mortar stores.

Let's review. Check City payday loans are a one time loan that is due on your next paycheck for the amount we give you plus a small service charge. If you can't pay back the loan on the due date, you may have a renewal option, depending on your state and the situation.  Payday loans can be done by phone, online or in one of our 65 conventient locations and are not available in all states. Please visit our website for the complete list of Payday Loan Approved States.  Remember also, these loans are for short term financial fixes only and if you are experiencing financial hardship, please seek credit counseling. 

The Heard Museum Guild Library in Phoenix Arizona is hosting a book and treasure sale this weeknd.  If you are a bargain shopper, you do not want to miss this event.  The 14th Annual Guild Library Book Sale has over 30,000 books and thousands of treasure that range from 25 cents to $250 dollars. 

 All of the funds that are raised by this sale will benefit the special projects of teh museum's Billie Jane Baguley Library and Archives.  This facility is a comprehensive research facility that includes information about indigenous art and cultures froma round teh world and an unparalleed resource file containing infomration about nearly 25,000 American Indian artists. 

The sale starts this Saturday at 9:30am and will close at 5p.m. and then will continue on Sunday from 9:30 a.m. to 4 p.m.  If you are member of the library you can enjoy a special sale of just the books from 1 to 5 p.m.  You also won't want to miss the silent auction that is going to be happening on Saturday, it will open the same time as teh sale but will close at 4 p.m. so that the items can be given to those that win them.

Before you get rid of your extra treasures laying around the house, make sure that you bring in anything that conatins a precious metal to Check City.  You will be able to clear out some of your clutter and get cash for doing it!

Donations were collected during Tuesday night’s Utah Flash game to help aid in a project to rebuild an orphanage that was destroyed by the affects of the recent earthquake which traumatized the already impoverished country, now tallying to have claimed over 100,000 lives.

 Utah Flash owner Brant Anderson decided to devote his efforts to rebuilding the orphanage during his recent visit to Haiti after the tragedy struck. Roughly 50 “slum children” without shelter and in much need of help, were left to the care of one man, without enough provisions to go around. The hearts of Andersen and his friends were touched and they eagerly made a call for action.

During the game’s halftime, Richard Rawle, CEO of Check City, presented a $10,000 check in support of the efforts to assist. Thanks to the generous donations from good citizens and companies like Check City, that call for action is being answered, and the hopes of this project are becoming a reality for these desperate children.
“This represents amazing generosity... Thank you. I know first hand that these donations will save the lives of some amazing kids.”  -Brandt Andersen
Check City has been a leading provider of short-term financial services since first opening their doors in 1986. Their financial services include check cashing and payday loans, vehicle title loans, pre-paid debit cards, auto insurance, wire transfer services, tax preparation, purchases of scrap gold and silver and more. They have helped hundreds of thousands meet their financials needs; in many cases, in the moments when they needed help most.

Check City is a proud member the Community of Financial Services Association (CFSA) and other trade organizations committed to providing payday advance loans as a safe and viable credit option for consumers. Check City is committed to providing assistance and support to local and distant causes that help to improve the quality of lives.
To follow the progress of the project to rebuild the Haiti orphanage, visit the Utah Flash Owners Blog  at http://dleagueutah.blogspot.com/

For more information about payday loans or other financial services offered by Check City, visit CheckCity.com

President Barack Obama gave the long awaited State of the Union speech yesterday night. In it Obama addressed many of the major concerns for America right now, including the economy, the health-reform, policies concerning Afghanistan, and the national deficit. However, Obama emphasized his discussion on the state of the economy and the national deficit.

After comparing the recession to America’s other struggles such as the civil war, Obama said, “I take my share of the blame for not explaining it more clearly to the American people,” Obama said. “... This problem is not going away.”

In direct contrast to Obama’s previous policy to extend help to those facing financial crisis by expanding the government, Obama declared that there needs to be a three year spending freeze beginning in 2011.
This freeze will affect all government spending programs except for national security and insurance programs such as Medicare, Medicaid, and Social Security. The list of affected groups will extend to include education, agriculture, and law enforcement.

Obama also declared that America was not only fighting a financial deficit, but a “deficit of trust” in Washington. He believes that this “deficit of trust” the American people feel towards Washington is hindering the government’s capabilities to fix the economic problems.

President Obama believes that the top priority of America right now should be to fix the economy. If the economy is fixed then the American people may develop more trust in the federal government.
Obama's first suggested step in effectively helping people who are struggling through the recession is to create more jobs. He said, “Jobs must be our number one focus in 2010, and that is why I am calling for a new jobs bill tonight… People are out of work … They need our help. And I want a jobs bill on my desk without delay.”

He also discussed the fact that Americans are disappointed with the bailout of the banking system. As a result, Obama asked the bailout money that has been paid back, amounting to $30 billion, be used to stabilize community banks. In return, he hopes that the community banks will support small businesses. Indirectly, he hopes that this will create more jobs.

Obama hopes to stick to the previously discussed economic stimulus plan which has been successful in preventing the raising of taxes. However, he recognizes that improvement in the economy has been slow.
He complimented the American people by saying that, “We do not give up. We do not quit. We do not allow fear or division to break our spirit” he said. Obama continued by stating that for the recession to truly heal, the people will have to make it happen.

As part of the American people we have been born into the American dream. With that belief we have the capabilities to change our lives for the better. Take control of your finances today by visiting Check City’s website. We host gold buying services and offer cash advances that can give you the extra money you need to change your life.

 To read more about Obama's State of the Union speech visit: http://www.msnbc.msn.com/id/35096238/ns/politics-white_house//