It's National Dance Week! And in celebration, from April 24th through May 3rd, save 20% on your store purchase! (Some restrictions apply - check store for details) Come in, celebrate and save!
Friday, April 24, 2009
Monday, April 20, 2009
Hours during April's School Vacation....
There are changes to our hours for the school vacation week - we will be closed on Monday, Tuesday & Saturday. We will be open Wednesday, Thursday and Friday from 10-7. We hope you can join us at the Fantasic Family Expo - check out the flyer on our website http://www.maryannsdanceandmore.com/familyexpo.html
BBB E-lert
Worcester, MA - Consumers are being battered on all fronts and offers from companies to help get them out of debt are extremely tempting in troubling times. Offers of debt negotiation, debt settlement, and debt elimination are three different options available to consumers. Better Business Bureau advises consumers to ensure they understand these critical differences before enlisting the help of a company to manage their debt or they could end up making their current financial situation worse.
The unemployment rate in the US rose from 7.2 to 7.6 percent in January according to the U.S. Department of Labor and more families are struggling to make ends meet. While the unemployment rate continues to rise, so do complaints filed with BBB against companies that claim to help consumers manage their debt. In fact complaints against debt consolidation and negotiation companies rose by almost 19 percent in 2008 over the previous year.
"Consumers are bombarded every day with ads and e-mails offering services to manage or reduce debt and it's hard to know which offer will work for them, let alone if the company can be trusted," said Nancy B. Cahalen, BBB President/CEO, "Families in debt may think their situation can't get any worse, but trusting the services of some debt negotiation, consolidation or elimination firms can actually lead to increased debt and bigger headaches."
To help consumers understand various options for dealing with debt, BBB offers a brief explanation of debt negotiation, consolidation and elimination services and tips on finding help to deal with debt:
Debt Negotiation/SettlementDebt negotiation companies claim that they will negotiate with a consumer's lenders to lower the total amount of debt owed for an upfront fee. Unfortunately, some consumers who paid for debt negotiation services found out that the company never contacted their lenders, but instead, took their money and ran. Because the debt negotiation company made it sound like they had everything under control, the consumer stopped talking directly with their lenders and ended up slipping deeper into debt. Relying on debt negotiation firms could also put a dent in a consumer's credit report.
Debt ConsolidationDebt consolidation companies offer to roll up various debts allowing the debtor to make one lower payment to the company, rather than many payments to the different lenders. While debt consolidation can make paying monthly bills more manageable, some companies tack on high fees and charge exorbitant interest rates, which means the consumer is paying much more in the long run.
Debt EliminationCompanies that offer debt elimination rely on many different schemes but they all hinge on the notion that credit lines are illegal. Debt elimination companies typically provide, for an upfront fee, a document for the lender that supposedly absolves the consumer of the debt. Unfortunately, the document has no bearing whatsoever on the debt owed and consumers paying for such services have found that they've wasted money on a debt elimination scheme that would have been better spent on actually paying back their debts.
Before enlisting the help of a business to manage debt, BBB offers the following advice for consumers.
Stay in contact with lenders and try to work out a plan with them first before enlisting outside help.
Always check the company out first with BBB. BBB Reliability Reports on debt negotiation, consolidation, and elimination companies are available online for free at www.bbb.org.
Start with a credit counseling service. Credit counseling services are often nonprofits that offer financial guidance for a small fee, or even for free. Click here for more advice on choosing a credit counseling agency. Beware of offers that sound too good to be true. There is no easy fix for reducing debt and any company that makes huge claims and guarantees, probably can't deliver.
# # #
The unemployment rate in the US rose from 7.2 to 7.6 percent in January according to the U.S. Department of Labor and more families are struggling to make ends meet. While the unemployment rate continues to rise, so do complaints filed with BBB against companies that claim to help consumers manage their debt. In fact complaints against debt consolidation and negotiation companies rose by almost 19 percent in 2008 over the previous year.
"Consumers are bombarded every day with ads and e-mails offering services to manage or reduce debt and it's hard to know which offer will work for them, let alone if the company can be trusted," said Nancy B. Cahalen, BBB President/CEO, "Families in debt may think their situation can't get any worse, but trusting the services of some debt negotiation, consolidation or elimination firms can actually lead to increased debt and bigger headaches."
To help consumers understand various options for dealing with debt, BBB offers a brief explanation of debt negotiation, consolidation and elimination services and tips on finding help to deal with debt:
Debt Negotiation/SettlementDebt negotiation companies claim that they will negotiate with a consumer's lenders to lower the total amount of debt owed for an upfront fee. Unfortunately, some consumers who paid for debt negotiation services found out that the company never contacted their lenders, but instead, took their money and ran. Because the debt negotiation company made it sound like they had everything under control, the consumer stopped talking directly with their lenders and ended up slipping deeper into debt. Relying on debt negotiation firms could also put a dent in a consumer's credit report.
Debt ConsolidationDebt consolidation companies offer to roll up various debts allowing the debtor to make one lower payment to the company, rather than many payments to the different lenders. While debt consolidation can make paying monthly bills more manageable, some companies tack on high fees and charge exorbitant interest rates, which means the consumer is paying much more in the long run.
Debt EliminationCompanies that offer debt elimination rely on many different schemes but they all hinge on the notion that credit lines are illegal. Debt elimination companies typically provide, for an upfront fee, a document for the lender that supposedly absolves the consumer of the debt. Unfortunately, the document has no bearing whatsoever on the debt owed and consumers paying for such services have found that they've wasted money on a debt elimination scheme that would have been better spent on actually paying back their debts.
Before enlisting the help of a business to manage debt, BBB offers the following advice for consumers.
Stay in contact with lenders and try to work out a plan with them first before enlisting outside help.
Always check the company out first with BBB. BBB Reliability Reports on debt negotiation, consolidation, and elimination companies are available online for free at www.bbb.org.
Start with a credit counseling service. Credit counseling services are often nonprofits that offer financial guidance for a small fee, or even for free. Click here for more advice on choosing a credit counseling agency. Beware of offers that sound too good to be true. There is no easy fix for reducing debt and any company that makes huge claims and guarantees, probably can't deliver.
# # #
Friday, April 10, 2009
BBB Advice on Finding a Financial Planner You Can Trust
Worcester, MA - In a challenging economic environment, finding a responsible financial planner and money manager is extremely important. Between the volatility of today's bear market and revelations of Bernie Madoff-like Ponzi schemes duping investors, consumers are more confused than ever about knowing whom they can trust with their money. Better Business Bureau offers the following advice on finding financial advisors that can be trusted to look out for the best interest of their clients.
According to research by the Congressional Budget Office release in October 2008, it was estimated that U.S. retirement accounts had suffered a loss of two trillion dollars in the previous months-or about 20 percent of their value. While consumers are looking for help in rebuilding their nest eggs, their trust in financial experts and planners has been badly damaged by questionable judgments and unethical practices on Wall Street.
"The fact that Bernie Madoff was well-known and respected despite operating an elaborate Ponzi scheme for years - that cost his clients upwards of $50 billion - shows that finding someone to trust with your money isn't as simple as choosing the firm that yields the highest returns," said Nancy B. Cahalen, BBB President/CEO. "Consumers need to apply the same care and concern in selecting a financial planner that they would use in selecting a doctor, lawyer or other professionals."
A financial planner helps clients manage their money and meet financial goals such as retirement or buying a house. A financial planner is not a stockbroker or an insurance salesman, but instead assesses many financial factors. There are no education or training requirements in order for someone to call themselves a "financial planner" which is why consumers need to do their research in order to find a capable and ethical advisor.
BBB offers the following advice on finding a financial advisor:
Get educated. There are many books and resources available online, in stores or libraries which can help consumers understand finance and investing. Not only will a little education early on go a long way in deciphering what financial planners are saying - and potentially help in spotting red flags - but will also help the consumer decide if they really need a financial planner in the first place. Financial planning and investing can be intimidating, but as more consumers are doing their homework, many have decided that they can manage their finances on their own.
Look for credentials that matter.There are many credentials that financial planners tack onto their names-with varying degrees of legitimacy. One important acronym to look out for is CFP which stands for "Certified Financial Planner." A CFP has passed a rigorous exam and is required to pursue continuing education credits.
Other groups such as the National Association of Personal Financial Advisors and the Financial Planning Association also offer certification and credentials to help consumers identify financial planners who have made a commitment to ethics and learning. Consumers should also check the planner out with BBB at www.bbb.org to see if they have a history of generating complaints and the nature of those complaints.
Also, if a planner gives out investment advice, he or she must be registered with the Securities and Exchange Commission (SEC) and any state regulators. Be sure to confirm all credentials and licenses with the agencies or organizations directly. Don't be sold by a slick pitch.A CFP is required to put the client's financial needs first and above his or her own. One sign of a trustworthy financial planner is that he or she isn't trying to sell their client a dubious new product, investment tool or risky stock. Some financial planners are tied to a brokerage firm and are actually trying to make money for their company and themselves through commissions.
Another red flag is when the planner claims they can guarantee big returns on investments. There is always a risk involved in investing and no honest planner can guarantee results.
Conduct a tough interview. After identifying several potential financial advisors, consumers should set up an appointment to meet each one in person. This is an opportunity to not only ask important questions about the planner's experience and expertise, but also to determine whether or not the consumer and planner can easily develop a good rapport. A consumer shouldn't be afraid to ask tough questions including how long the planner has been in the business, their qualifications and licenses, their experience with similar clients and if they have been the subject of any disciplinary actions. Consumers can also ask for references of clients who are in their similar financial position.
Consider the fee structure.There are many fee structures employed by financial planners. Some charge by the hour or a flat rate. Others earn money through commissions on projects sold - which can create a conflict of interest - or a combination of fees and commissions.
If consumers feel they already have a good handle on their finances, another option is to find a financial planner who is willing to offer expert advice-and a second look-perhaps on an annual basis, at an hourly fee rate.
# # #
According to research by the Congressional Budget Office release in October 2008, it was estimated that U.S. retirement accounts had suffered a loss of two trillion dollars in the previous months-or about 20 percent of their value. While consumers are looking for help in rebuilding their nest eggs, their trust in financial experts and planners has been badly damaged by questionable judgments and unethical practices on Wall Street.
"The fact that Bernie Madoff was well-known and respected despite operating an elaborate Ponzi scheme for years - that cost his clients upwards of $50 billion - shows that finding someone to trust with your money isn't as simple as choosing the firm that yields the highest returns," said Nancy B. Cahalen, BBB President/CEO. "Consumers need to apply the same care and concern in selecting a financial planner that they would use in selecting a doctor, lawyer or other professionals."
A financial planner helps clients manage their money and meet financial goals such as retirement or buying a house. A financial planner is not a stockbroker or an insurance salesman, but instead assesses many financial factors. There are no education or training requirements in order for someone to call themselves a "financial planner" which is why consumers need to do their research in order to find a capable and ethical advisor.
BBB offers the following advice on finding a financial advisor:
Get educated. There are many books and resources available online, in stores or libraries which can help consumers understand finance and investing. Not only will a little education early on go a long way in deciphering what financial planners are saying - and potentially help in spotting red flags - but will also help the consumer decide if they really need a financial planner in the first place. Financial planning and investing can be intimidating, but as more consumers are doing their homework, many have decided that they can manage their finances on their own.
Look for credentials that matter.There are many credentials that financial planners tack onto their names-with varying degrees of legitimacy. One important acronym to look out for is CFP which stands for "Certified Financial Planner." A CFP has passed a rigorous exam and is required to pursue continuing education credits.
Other groups such as the National Association of Personal Financial Advisors and the Financial Planning Association also offer certification and credentials to help consumers identify financial planners who have made a commitment to ethics and learning. Consumers should also check the planner out with BBB at www.bbb.org to see if they have a history of generating complaints and the nature of those complaints.
Also, if a planner gives out investment advice, he or she must be registered with the Securities and Exchange Commission (SEC) and any state regulators. Be sure to confirm all credentials and licenses with the agencies or organizations directly. Don't be sold by a slick pitch.A CFP is required to put the client's financial needs first and above his or her own. One sign of a trustworthy financial planner is that he or she isn't trying to sell their client a dubious new product, investment tool or risky stock. Some financial planners are tied to a brokerage firm and are actually trying to make money for their company and themselves through commissions.
Another red flag is when the planner claims they can guarantee big returns on investments. There is always a risk involved in investing and no honest planner can guarantee results.
Conduct a tough interview. After identifying several potential financial advisors, consumers should set up an appointment to meet each one in person. This is an opportunity to not only ask important questions about the planner's experience and expertise, but also to determine whether or not the consumer and planner can easily develop a good rapport. A consumer shouldn't be afraid to ask tough questions including how long the planner has been in the business, their qualifications and licenses, their experience with similar clients and if they have been the subject of any disciplinary actions. Consumers can also ask for references of clients who are in their similar financial position.
Consider the fee structure.There are many fee structures employed by financial planners. Some charge by the hour or a flat rate. Others earn money through commissions on projects sold - which can create a conflict of interest - or a combination of fees and commissions.
If consumers feel they already have a good handle on their finances, another option is to find a financial planner who is willing to offer expert advice-and a second look-perhaps on an annual basis, at an hourly fee rate.
# # #
Wednesday, April 1, 2009
More Flag Issues...
Our flag will be down temporarily...due to some hooligans pulling down the flag, we need to replace the metal holding the flag. Not only did the flag come down but the pole and the metal holder - we were not able to catch the culprit but we certainly do not appreciate the disrespect for public property...
Please look for the sandwich board outside the store in addition to the Avon brochure racks to indicate our being open. We apologize for having to take in the flag, yet again....and thank you for your patience!
Please look for the sandwich board outside the store in addition to the Avon brochure racks to indicate our being open. We apologize for having to take in the flag, yet again....and thank you for your patience!
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