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Showing posts with the label FTC | Warnings.

FTC | Warnings - July 1, 2014: FTC Warns Consumers About Pension Advance Plans

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FTC Warns Consumers About Pension Advance Plans If you’re 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. The Federal Trade Commission, the nation’s consumer protection agency, advises consumers that pension advances, also known as pension sales, loans, or buyouts, come at a very steep price. Most pension advances require you to sign over all or some of your monthly pension checks for five to 10 years. The lump sum payment you get in return is less than the pension payments you sign over, so you’re signing over money you need to live on. And pension advances often require retirees to buy a life insurance policy – with the pension advance company as the beneficiary – to insure that the repayments continue. For more information, read the FTC’s  Pension Advances: Not So Fast . The Federal Trade Commission works for consumers to prevent fraudulent, deceptive, and un

FTC | Warnings - April 1, 2014: FTC Warns Consumers: Beware of Washington Mudslide Charity Scams.

FTC Warns Consumers: Beware of Washington Mudslide Charity Scams In the wake of the deadly mudslide in Washington State, the Federal Trade Commission, the nation’s consumer protection agency, reminds consumers that scams often follow disasters.  If you’re asked to make a charitable donation to help people in disaster-affected areas, before you give, be sure your donations are going to a reputable organization that will use the money as promised. Unfortunately, legitimate charities face competition from scammers who either collect for a charity that doesn’t exist or aren't honest about how their “charity” will use the money you give.  Like legitimate charities, they might appeal for donations in person, by phone or mail, by e-mail, on websites, or on social networking sites.  For more information, read the FTC consumer blog post,  Helping victims of the Washington State mudslide — Make sure your donations count  and, for a list of groups that can help you research a charity,

FTC | Warnings September 30, 2013: FTC Warns of Utility Bill Scam That Asks for Payment via GreenDot, Paypal or Prepaid Gift Card

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FTC Warns of Utility Bill Scam That Asks for Payment via GreenDot, Paypal or Prepaid Gift Card Imagine receiving a phone call from your utility company saying they’re about to cut off your electricity. The caller ID looks like it might be a legitimate phone number, but you know you’ve paid your bill. The caller says, “I can stop this, but only if you pay me.” It’s a scam, but there’s a new twist.  Instead of asking you to wire money, a new scam wants you to use GreenDot, buy a prepaid gift card, or use PayPal . Scammers using reloadable debit cards, gift cards, or PayPal is not new, but it’s growing. It lets them get your money in a way that you’ll never get it back. Scammers can use computers to make it look like they’re calling from one place – when, in fact, they’re someplace else.  If you get a call, email, text, or even a visit from someone telling you to make a payment via PayPal, or to buy a GreenDot card or a gift card, it’s probably a s