Michael Finney answers your consumer questions

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Fed up? Curious? Furious?! If you need help, just ask Michael Finney, your own consumer expert from 7 On Your Side!

7 On Your Side's Consumer expert Michael Finney answers your questions, every weekday on ABC7 Mornings. Submit your video questions and tune in at 6 a.m.

Question 1:
Carl from Oakland asked: All these companies that are coming out to fix your credit for $29.99, $39.99, are those scams, or do they actually fix your credit?

Answer:
There are legitimate credit repair companies out there, but they can't do anything you can't do. They look for any wrong information on your credit report, then they complain to the credit reporting bureau. The credit bureau then has 30 days to check to see if the information is correct. So get a free credit report, yourself, by going to annual-credit-report-dot-com, and look for loans that are not yours or other charges that aren't yours. Complain and see what happens. There are a few credit repair professionals who can really up your credit score, but they are far outnumbered by fake or poor actors in this industry.

Question 2:
Ramona from Daly City asked: Is this the best time to buy a house?

Answer:
I get this question a lot; I know it's an important one to many people in the Bay Area. But, there is no way to know. Here is the bottom line. If you have a secure job, and plan to live in the home a few years, you're probably pretty safe buying in just about any market here in the Bay Area. Over time, prices go up. Cut the best deal you can, then wait for a while and you will look like a financial genius.

Question 3:
Zoe asked: Is there such a thing as a $1,000 bill?

Answer:

A few decades ago, a $1,000 bill did exist. At different times, Alexander Hamilton and Grover Cleveland were pictured on the bill. The bills were not for buying stuff at the store, but for bank transfers. All of that is all done by computers now. The government stopped distributing the bills during world war two. They are now collector's items.

See Finney's Friday Friday Free Stuff on Facebook live:

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society7 On Your Sideconsumerconsumer concernspersonal financeshoppinginsuranceticketstraveltoyschildren
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