An Online Payday Loan Or Window To A Scam?

 

Staten Island’s only community-based business bank warns against payday loan scams

 

STATEN ISLAND, N.Y. – Strapped for cash? You might think an online payday loan is a quick and easy way to help stretch your money. But before you enter your bank account or any other personal information on a payday loan website, back away from the keyboard! That online payday loan might be a window to a scam.

Knowing how some scam operators work can make you think twice about the sites you visit and what you do when you get there.  The Federal Trade Commission recommends the following tips:

 

Keep a close hold on your personal information. Whether your visit to an online payday loan site results in a loan, simply entering information on the site may come back to haunt you. Even if you never hit "Submit" to complete the transaction, your information can be captured through keystroke logging – a program used to see and store everything you enter on application. Scammers can use this information to commit identity theft, or debit money from your accounts.

Read the fine print. If the details of any online transaction, application or membership program aren’t apparent and understandable, don’t follow through. Incomprehensible or hard to find details could be warning signs of a scam.

Review your bank account and billing statements for unauthorized charges. Regularly reading all your account statements can help you see where your money is going, and help you flag unauthorizedbilling charges. If you suspect an unauthorized charge, ask your bank or the merchant about it, and dispute it.

 

 

About Victory State Bank:

VSB Bancorp, Inc. (OTC: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online http://www.victorystatebank.com.

Media Inquiries:

Relevant Public Relations, LLC

Headquarters: 718-682-1509

Mobile: 917-715-8761

Email:  This email address is being protected from spambots. You need JavaScript enabled to view it.

 

 

 

 

 

 

 

 

 

The Importance of Understanding a Merchant’s Layaway Policy

 

Staten Island’s only community-based business bank advises doing your research before agreeing to the terms of a purchase

 

STATEN ISLAND, N.Y. – If you don’t want to pay with plastic and you don’t have the necessary cash on hand, you may want to ask a merchant about a layaway plan. Layaway purchase plans are designed for people who want to buy products and services without using credit or paying the full price immediately.

When you buy an item on credit, you take the merchandise home with you. When you use layaway, you typically put down a deposit — usually a percentage of the purchase price — and pay over time; the retailer holds the merchandise for you in reserve. You take the merchandise only when you have paid for the item in full.

The Federal Trade Commission (FTC) says it’s important to ask questions about how particular layaway plans work. Doing a little research on the front end can help you avoid problems later.

Get the merchant’s layaway policy in writing.

Look for details on:

    • The terms of the layaway plan: how much time you have to pay for the merchandise or service; when your payments are due; the minimum payment required; and possible charges for using the plan, like a service fee. Find out if there is a fee or a penalty for missed or late payments: Will your contract be cancelled? Will the merchandise be returned to inventory?
    • The refund policy: If you decide you don’t want the merchandise after you’ve made some or all the payments, can you get a refund? Retailers’ policies may differ: some give you all your money back; others may charge a non-refundable service fee; still others may offer a merchant credit for the amount you paid.

 

Check out the business. Contact your state Attorney General’s Office, local consumer protection agency, and your local Better Business Bureau. They can tell you if consumers have filed complaints against the retailer or online service.

Keep good records of the payments you make on layaway merchandise. They may come in handy if you have a problem with the seller.

 

 

About Victory State Bank:

VSB Bancorp, Inc. (OTC: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online http://www.victorystatebank.com.

Media Inquiries:

Relevant Public Relations, LLC

Headquarters: 718 682 1509

http://www.RelevantPR.com

Mobile: 917 715 8761

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

Veterans: Beware Shady Pension Schemes

 

 

STATEN ISLAND, N.Y. – Veterans and their families are a target for some dishonest advisers who are claiming to offer free help with paperwork for pension claims.

The scheme involves attorneys, financial planners, and insurance agents trying to persuade veterans over 65 to make decisions about their pensions without giving them the whole truth about the long-term consequences.

 Victory State Bank would like to provide the following guide on understanding your benefits:

Navigating the process:

    • It is free to apply for veterans’ benefits. If you’re completing the application yourself, don’t pay for forms. If someone is helping you, know that the people who are accredited through the VA are notallowed to charge you to help you complete and submit VA paperwork.
    • Check for accreditation and licensing. Confirm that the person helping you is accredited through the VA. That means they’re trained to help with completing and submitting claims to the VA; it doesn’t mean the VA endorses the person’s products, advice, or ethics. Look into the licensing and professional status of the person helping you:
      • For insurance agents:If you are considering buying an annuity, check with yourstate insurance regulatorto confirm that the seller is licensed.
      • For lawyers: Check withyour state Bar Associationto see if the lawyer is licensed in your state and whether there are ethical complaints on file.
      •  For financial planners: Anyone can call themselves a financial planner, but someone using the designation Certified Financial Planner must meet certain professional and ethical standards of theCertified Financial Planner Board of Standards. Determine whether an adviser is certified and whether any disciplinary actions have been taken or are on file. TheNational Association of Personal Financial Advisorscan give you a list of planners that you pay directly (fee-for-service) rather than by commission on your purchases.
    • Know what’s in a name.The words “veterans” or “military families” in an organization’s name don’t necessarily mean that the group represents the best interests of veterans or their families. Some so-called advisers are dishonest and mislead veterans and their families to believe that they are veterans’ advocates representing a nonprofit or that they’re endorsed by VA.
    • Feel fine about responding with a fast no -- or taking plenty of time to get to yes.Check out an organization before you give it any money or do business with it in any way. Some deceptive advisers use names, seals, and logos that look or sound like those of respected, legitimate organizations. You may see a small difference in the name of the organization from the one you mean to deal with: that’s your signal to call the organization you know to be legitimate and ask it a lot of questions.
    • Consider any pressure to act fast as your cue to say no.If you decide to attend a presentation about veterans’ benefits, don’t spend any money until you’ve had time to think about the options, and play out as many potential scenarios as you can imagine. If the salesperson is giving you vague or evasive answers, walk away. This is not a person you want to trust with your money, your benefits, or your future.
    • You get to decide how to spend your money.Read all the papers and the contract carefully. Understand all the terms, conditions, and implications of what you are being asked to do. Get everything you discussed in writing. If something isn’t clear to you, ask for an explanation in writing. Take your time to review and consider all your options, including doing nothing. Discuss the possibilities with a trusted friend or family member. For instance, before an annuity contract is final, you get a “free look” period. How long the period lasts depends on state law. This is your chance to decide you don’t want the annuity, return the contract, and get your money back.
    • Guarantees, schmarantees: There aren’t any.If an adviser guarantees or promises that they can help you get A&A benefits, forget about it. No one can promise that the VA will award you a benefit – even someone who claims to be VA-approved or accredited. Only the VA can do that

 

About Victory State Bank:

VSB Bancorp, Inc. (OTC: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online http://www.victorystatebank.com.

Media Inquiries:

Relevant Public Relations, LLC

Headquarters: 718 682 1509

http://www.RelevantPR.com

Mobile: 917 715 8761

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

  

Victory State Bank Spotlights Safe Online Investing Practices

 

 

STATEN ISLAND, N.Y. – Victory State Bank would like to remind you that investment opportunities that claim to be low risk and high reward almost always are frauds. If you have problems with your online investment account — or if you suspect an investment scam:

File a complaint with the Securities and Exchange Commission (SEC) using the agency's Online Complaint Center. Include as many details as possible: a summary of the problem and the names, addresses, telephone or fax numbers, and email addresses or websites of any person or firm involved.

For more information on investing wisely and avoiding costly mistakes, visit the SEC's investor website.

If you believe your personal information has been misused:

About Victory State Bank:

VSB Bancorp, Inc. (OTC: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online http://www.victorystatebank.com.

Media Inquiries:

Relevant Public Relations, LLC

Headquarters: 718 682 1509

http://www.RelevantPR.com

Mobile: 917 715 8761

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

  

Victory State Bank Highlights Ways to Deal With Job Loss

 

STATEN ISLAND, N.Y. – Losing a job is stressful, plain and simple. Looking for a new one is no easy task either, especially if you worry about how to pay the bills. But take a deep breath. Here are some tips to help you get back on your feet professionally and financially.

    • Look to your employer for help. Your company may offer a range of services, from workshops to retooling your resume to classes on how to look for jobs.
    • Contact yourState Unemployment Insurance Office for information about applying for unemployment insurance benefits in your state.
    • Make a budget. Add up your monthly expenses and create a survival budget to get a sense of how long your savings can keep you afloat. Look for expenses you may be able to eliminate.
    • Consider your health care options. The Consolidated Omnibus Budget Reconciliation Act, better known as COBRA, allows people who lose their jobs to buy health insurance at a group rate for a limited time. COBRA can be expensive. If you're relatively healthy and don't have chronic conditions, a bare-bones major medical plan may save you money while still protecting you from catastrophic emergencies. VisitHealthCare.govto learn more.
    • Contact your creditors. They may be willing to discuss some type of minimum payment. They’re much more likely to be reasonable with you if you tell them your situation upfront, rather than waiting for them to contact you after you’ve missed a payment. 
    • Order a free copy of your credit report. It has information about where you live, how you pay your bills, and whether you have filed for bankruptcy. Credit reporting companies and other businesses that providebackground informationsell your file to potential employers that, in turn, use it to evaluate your applications for jobs. It’s a good idea to dispute inaccurate information in your report so it can be corrected before your next job interview comes along.
    • Form a network.Networkingis about building relationships and is a key part of job hunting. All it means is talking to others — either formally or informally — about your job search and career goals.
    • Join a professional, business, civic, or some other kind of association or club.  It can be a good way to learn about trends and unadvertised jobs.  Members often know employers with open positions. Association and club listings can be found online or at your local library.
    • Be wary ofjob scams. It’s tough enough to find a job without scammers trying to take advantage. During your job search, you may see ads for job placement firms that promise results. Unfortunately, some firms misrepresent their services, promote nonexistent vacancies, or charge high fees in advance for services that don’t guarantee placement.

 

About Victory State Bank:

VSB Bancorp, Inc. (OTC: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online http://www.victorystatebank.com.

Media Inquiries:

Relevant Public Relations, LLC

Headquarters: 718 682 1509

http://www.RelevantPR.com

Mobile: 917 715 8761

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.