The holidays are over, and now it is time for the "Santa Shock," when you get the bills for all of your purchases. According to a study conducted by Lending Tree, consumers, on average, incurred a holiday debt of nearly $1,200. The Ohio Division of Financial Institutions tips to reduce your large bill are negotiating a lower interest rate, creating a debt payoff plan, or reducing your spending for normal monthly expenses. Experts say you don't want this year's holiday debt to spread to next year.

October 9, 2024, Press Release from the Ohio Department of Commerce: COLUMBUS, Ohio – If you operate a bank or business in the state of Ohio, you have until Nov. 1 to report unclaimed funds to the Ohio Department of Commerce Division of Unclaimed Funds – even if there are not any funds to report. Unclaimed Funds Reports are due on Nov. 1 for accounts dormant as of June 30, 2024. The only exception is for life insurance companies, whose reports are due May 1, 2025 for accounts dormant as of Dec. 31, 2024. Last year, the division received 90,790 reports and $528 million.

August 9, 2024, Press Release from the Office of Ohio Attorney General Dave Yost: (COLUMBUS, Ohio) — In the wake of damaging storms that recently struck northeastern Ohio, Attorney General Dave Yost is reminding all Ohioans to watch out for home-repair scammers and fake charities soliciting donations on behalf of those affected by the severe weather. Unscrupulous contractors are known to travel to storm-damaged communities to offer their “services” to homeowners but then perform shoddy work – or no work at all. Typically, they go door to door, claiming that they can complete the work immediately. 

May 30, 2024, Press Release from the Ohio Department of Commerce: COLUMBUS, Ohio – With approximately 82% of Americans planning to travel this summer either domestically or abroad, the Ohio Department of Commerce Division of Financial Institutions reminds travelers to take steps to protect their finances and belongings from potential scams.

Local area residents have reported receiving calls from individuals claiming to be from the Find A Ride Program soliciting donations. The Find A Ride Program and Area Agency on Aging 3 does not contact via phone to solicit donations. Please do not give bank or credit card information to anyone over the phone that claim to be seeking donations on behalf of Find A Ride or the Area Agency on Aging 3. 

The number of individuals relying on credit cards continues to skyrocket, and as interest rates climb, that debt only gets more expensive. While paying that minimum balance might avoid late fees, that method usually leads to long-term debt. We spoke to a local financial advisor who says if you are paying down your debt but the balance isn't budging, it may come down to your payment strategy.

Crime Victim Services has coordinated their 7th annual free credit check on Wednesday, November 30th. A total of five financial institutions and 18 branch locations in Allen and Putnam Counties are participating this year. The Better Business Bureau recommends checking your credit report twice a year, and this free credit check allows people to spot potential fraud and get a better idea of overall credit health.

Outside of Black Friday, Cyber Monday is the most popular day for people to make a dent in their holiday wish lists.   According to the National Retail Federation,  nearly 64 million people are expected to log on Monday to shop online.  But retail websites are not the only ones looking to lure shoppers to their site,  cyber criminals will be busy trying to be the grinch to ruin everybody's Christmas.

Press Release from Ohio Attorney General Dave Yost: (COLUMBUS, Ohio) — Just in time for Black Friday, Ohio Attorney General Dave Yost has some…