Comments on: Readers: Ask Jean Chatzky a Personal Finance Question

By: Katherine Smith

Katherine Smith — Fri, 11 Jun 2010 21:13:53 +0000

Jean, I am being solicited by law firms to pay a retainer or service fee for their Attorneys to reduce my debts by contacting my creditors and arranging a settlement. The promise is total debt reduction over 4-5 years and debts reduced by 50%+. The lowest retainer fee I have been quoted is $5,000.

Are these scams?

Thanks for your help.

By: karen

karen — Tue, 26 May 2009 12:55:05 +0000

I have $20,000.00 to do something with. I am a 68 yr. old female. I do not want to tie it up to the point that I cannot draw on it without going through a lot of paper work. If I could earn a little on it that would be great. Please advise. Thanks

By: Kosmo @ The Casual Observer

Kosmo @ The Casual Observer — Thu, 07 May 2009 03:43:35 +0000

I find the theory behind viaticals very interesting, in spite of the negative experiences that many have seen in the viaticals market. Does Jean foresee viaticals become a more mainstream investment in the next 20 years?

By: Chris @ BuildMyBudget

Chris @ BuildMyBudget — Wed, 06 May 2009 22:50:33 +0000

I read an article recently that argued that gen Y investors aren’t being risky enough in the current market and will as a result, never build a healthy enough nest egg to retire. I’m not sure I agree with this for the simple reason that it takes so long to recover from a loss. Thoughts?

By: Joshua

Joshua — Wed, 06 May 2009 21:27:41 +0000

Question: What is a EIUL (Equity Indexed Universal Life) policy, how does it work, and why/when would someone want to invest in one?

By: Lazy Man

Lazy Man — Wed, 06 May 2009 19:56:42 +0000

My source (Wikipedia) says it’s a second marriage.

By: Moneymonk

Moneymonk — Wed, 06 May 2009 19:54:31 +0000

I thought Jean was already married! lol

–

I have a question on behalf of my sister:

When she moved into her subdivision, she was told the HOA fee was $300 a year until she got a bill in her mailbox it was for $500 they decided to go up because there were no cash on hard. –whatever

She did not pay it, about a year later they sued her, the $500 turned into $4000 ($3500 was for legal fees)

Is this normal? she does not work and do not have $4000- she called the legal office, They no longer have the case. Was this really a legal firm or was this a plot to give up $4000?

She checked her credit report and there were no liens or lawsuit on neither 3 reports. By the way they cannot produce any paperwork where she sign for HOA fees.

I did not have an answer for her, maybe you do