Smart Money: Employment agencies should reveal fees in advance

Bruce Williams is a national radio talk show host and syndicated columnist.

Dear Bruce: I did something a few weeks ago that I have been worrying about ever since. I filled out an application at an employment agency. They asked for a lot of personal information, including an estimate of my personal assets, Social Security number and my mother's maiden name. I gave it to them without thinking. After I handed them the application, I was interviewed by the company's owner and discovered that I was to pay them a fee for finding me a job. No specific amount was given, but they hinted at $10,000. The interview went poorly. The owner came on with high-pressure sales tactics and became disgusted with me when I didn't go for his pitch. He cut the interview short. Now I am worried that I may have given information to a shady character that could use it for identity theft. What do I do? D.N., Des Moines, Iowa

Dear D.N.: I doubt that there is any real danger. However, you did give a great deal of personal information to someone that has no right to it and conceivably could use it to your disadvantage. You, of course, could write to them and ask them to return the information, but all they would have to do is to photocopy it, so what would that accomplish? Scrutinize your credit card statements and check your credit reports every six months. That way, if there is any activity in your name that you have not authorized, you will be aware of it. A word to the wise is clear: When filling out an application to an agency, give only information that is necessary in finding you a position. As to the business about a fee, that should have been made very clear to you at the start.

Dear Bruce: I have a sizable student loan a consolidation of four student loans that I'm paying off at 8.25 percent. I know that the student loan interest rates are currently at an all-time low. I contacted my loan company to see if I could get a lower rate and was told that, once the loans were consolidated, I was locked in. I feel stuck. Can you give me any suggestions as to what to do to get a lower interest rate? Leanne, Rock Island, Ill.

Dear Leanne: The reality is that you are stuck. You were offered an opportunity to consolidate once. The crapshoot there is that you chose a time when you thought the interest rates were as low as they were going to go, or at least I assume that this is the case. The deal was that you get one bite at the apple and you had your bite. The only way that I know of that you might get a lower interest rate is to seek out some kind of home loan, if in fact you have equity in a home or something similar, and pay off the student loans. On balance, welcome to the real world. You signed a contract with an option, you exercised the option and now you have to live with it.

Dear Bruce: I received my monthly paycheck today by priority mail 17 days after the end of the month. This is a pattern of my employer to mail the checks so we receive them well after the pay period ends. Isn't there some labor law that mandates how much time can lapse before paying salaried employees for work performed? In January, I received my paycheck 18 days after the pay period ended, in March, 12 days and, in April, 17 days. In addition, my 401(k) withholding is often not deposited in a timely manner. For the money withheld from my August paycheck, which I received 17 days after the pay period, my fund manager did not receive my 401(k) money until Oct. 6 36 days late. Are there specific guidelines regarding 401(k) deposits as well? D.L., via e-mail

Dear D.L.: The rules about payment to employees are state rather then federal. It would appear that your employer is juggling monies owed probably because the company is in a weak financial situation. This is a situation in which you will have to determine whether "grinning and bearing it" is the best course of action. Were you to complain to your state's labor department, assuming there are local labor laws being violated, this might just be enough to push your company over the brink and into insolvency. True, you are at some risk if they were to go under while owing you something on the order of a month's pay. There may be monies not properly contributed to the 401(k) as well. You have to make a value judgment. If you are relatively happy with your employment and don't have solid opportunities on the horizon, I would walk softly.

Dear Bruce: Columnists like you are a very large pain. You're constantly telling people to get an education. You have no clue how expensive it is and how lucky guys like you are that had your parents pay for your college while you partied. My parents refuse to contribute to my college education. If I want to go to school they tell me that it's up to me. How can anybody expect me to have a good college experience and pay the freight? Until you have walked in my shoes, I wish you would keep your mouths shut. My folks have read your column and tell me that you say it can be done. Your famous words are "who said it should be easy?" What I want to know is, who said it should be this hard? C.R., Fresno, Calif.

Dear C.R.: Mom and dad can't pay for college and now you can't go what a big load of nonsense! There are several ways that you can get an education. Thought of the ROTC? Has anyone described to you the benefits of going into the military and earning education credits? How about working? Millions of successful people paid for their own education, including myself. Yes, you might have to give up partying and a social life, but you are the beneficiary. Stop whining.