Leaderboard

Client to FA: "I thought you said the purpose of these ' Deferred Sales Trusts' was to build the college fund for the kids." FA: "Yes, that's exactly the purpose. The college fund for my kids is doing great! "

Let me amend that statement a bit; John's is more accurate.

The feature on the website that tells you whether or not your information may have been part of the hack can't be trusted. Making up a last name and putting in 6 random digits for the end of the SSN returns a random response... at least that was my experience over the weekend. Other people have reported that they have checked their own information multiple times, only to get different answers each time. I think it's safe to say that the website isn't returning results based on actual data. I guess that explains why they suggest you proceed as if your information has been compromised, no matter what the results of that query are--I expect they have no idea who has been affected.

Sell EFX short.

Two things - a freeze as I know it is supposed to stop people from getting loans (credit) in your name - not get your information illegally. You have to go to all 4 credit reporting agencies or you've done nothing. Sadly you have to pay money to all four even though you never agreed for them to collect the data in the first place. Isn't that a nice business model? Second, don't trust the Equifax website on whether your information was hacked or not. The first run through basically said nobody was hacked if you looked up your individual name. The second run through said you might have been hacked regardless of the information entered and I don't know about now. Basically, don't trust Equifax regardless of what they say.

I did a google search and lots of links came up. I did not read Any of them in detail but the property is sold to a trust which in turns issues the seller an installment sale contract. IMO seller beware.

Thanks Judy. Tom Modesto, CA

I don't think so. This season I turned one away, they left my office at eleven, I went to lunch at 11:45 and their car was parked in front of Block's. So, no problem for them. Too bad though; they weren't a PIA and (later) took two relatives with them. Damn those confounded ethics anyway; all l had to do was agree that since the installment buyers of their spare house "just make the bank payment" any fool could see there was no gain. You're right about ditching a terrible client though. I priced one out of the office over ten years ago and still get a touch of euphoria every time I see that crummy #%*&^@. Life is soooo much better........ If I didn't dislike his successor preparer so much I'd feel really bad about it.

Guilt - that's the difference between being a caring person and a feeling person. As in. "I really don't care. Sometimes I feel bad about not caring, but still I really don't care."

According to the Equifax website, neither my wife or I had our information exposed. Yea ! On the other hand, I just downloaded my free credit report from Trans Union and I noticed that in the last eight months at least 8 different financial institutions that I have never heard of have requested credit information about me. So now I get it, if you are a supposedly legitimate financial institution, you can just buy someone's personal credit info from one of the big 3 credit reporting services who are more than happy to sell it to them, since they are very profitable businesses. This is the dark side of free enterprise. Everything is for sale ! #*#*#*

Oh yeah, no disagreement here, but It's hard to feel outraged every single time some stinking rich a-holes do something like this without consequence. It's just the world we live in.

Translated: we got caught covering our own hindquarters and are back-pedaling as fast as we can! Just don't take away our insider trading dumped stock gains - those are for campaign contributions (to *all* the legis-vermin)!

About the arbitration clause, there was quite an uproar about it, and they have since come out saying that it doesn't apply to this security breach. This update was added today on https://www.equifaxsecurity2017.com/

I can't breathe.

Chad, Welcome to the board and don't take it personal. Jack hates everyone and lets them know right away. Tom Newark, CA (Until tomorrow)

Not that you need to explain your decisions to a prospective client, but if you felt the need to do so, you could always print out this thread and show it to them.

Thanks for all the input and I will take the advice given and run for the hills, which aren't too far away.

I have an idea. Give their stuff back to them and let the hairstylist they are presently getting their advice from continue to handle this high-level tax planning. If you take this project on, you'll wish you had never seen them when the IRS correspondence begins. And anything that doesn't meet their wierd expectations will be your fault.

This post is 8 years old. Please stick to current posts.