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Ever wonder how a lender decides whether to grant you credit? For years, creditors have been using credit scoring systems to determine if you’d be a good risk for credit cards, auto loans, and mortgages. These days, other types of businesses — including auto and homeowners insurance companies and phone companies — are using credit scores to decide whether to issue you a policy or provide you with a service, and on what terms.

Whether you’re a first-time investor or have been investing for many years, there is some basic information you should know. Here are 10 tips that may help you make informed financial decisions and avoid common scams .

Today, we announce an enforcement action against Colfax Capital Corporation and its subsidiary Culver Capital, LLC for engaging in unlawful lending practices that targeted and financially harmed servicemembers. Although the name Colfax Capital Corporation might be new to some, this is actually the last gasp of a chameleon-like company with a long and deplorable record of preying on servicemembers. Formerly known as Rome Finance Co. Inc. and Rome Finance Company, LLC (collectively Rome Finance), this unlicensed lender provided financing that merchants, such as SmartBuy, used when selling products to military members. Rome Finance’s contracts inflated the disclosed prices of the products to hide the true finance charges that the servicemembers would have to pay, typically by military allotment. This trapped servicemembers in contracts that generated millions of dollars for the company and substantial debt for its customers.

If you’re retired and trying to make ends meet, here’s a pitch that might catch your interest: “Convert tomorrow’s pension checks into hard cash today.” Sound tempting? Think again. Pension advances, also advertised as pension sales, loans, or buyouts, can come at a very steep price.

Looking for information about Social Security? Make sure you’re going to the right place.

We appreciate and respect the sacrifices that members of our military and their families make for our country, but unfortunately there are some people who try to take advantage of our men and women in uniform. The Second Annual Military Consumer Protection Day is July 16 and my office is joining with government organizations and businesses across the country to raise awareness about problems that target military consumers.Men and women currently serving in our Army, Air Force, Marines, Navy, Coast Guard, National Guard and Reserves are often young, away from home for the first time and earning their first steady paycheck. Unfortunately, this can make them a prime target for scams and frauds.

Tennessee Attorney General Bob Cooper is joining government agencies, advocacy organizations, and private sector groups to celebrate the second annual Military Consumer Protection Day, July 16, 2014."Servicemembers make incredible sacrifices for our country and it is only right that we protect these men and women from unscrupulous business practices here at home," said Attorney General Cooper. "I am confident efforts like Military Consumer Protection Day will raise awareness of the helpful resources and assistance available for servicemembers."This broad coalition is sharing tips and information about managing money, dealing with credit and debt, building savings, protecting personal information, recognizing identity theft and avoiding fraud. Read the full press release.

Illinois Attorney General Lisa Madigan announced her office will host a financial resource fair with the Illinois Joining Forces Financial Literacy Working Group to recognize Military Consumer Protection Day on Wednesday. Madigan's Military and Veterans Rights Bureau and other advocates who are members of the Illinois Joining Forces Financial Literacy Working Group will be available in the atrium of the James R. Thompson Center, 100 W. Randolph St., Chicago from 9 a.m. to 2 p.m. today to provide information and answer questions for veterans, service members and their families. Read the full press release.

So you’ve just received orders, and you’re due to deploy. Before you go, there are a number of steps you should take to protect your family and financial future. Know your rights. The federal Servicemembers Civil Relief Act provides protection for active military servicemembers. The law’s purpose is to postpone or suspend certain civil obligations so active duty members of the Armed Forces can focus their full attention on their military responsibilities without adverse consequences for them or their families.

In case you haven’t heard, Military Consumer Protection Day (MCPD) is on July 16th this year. If you’re not familiar with MCPD, this is a great chance to learn about the organizations and resources that can help you protect and grow your hard-earned military pay or veterans benefits.