DHP Financial post of the week: Scams, Its hard enough keeping our hard earned money

[imported_Gman]

Top 10 Internet frauds

• Internet auction fraud
Consumers say they've received an item that is less valuable than promised, or don't receive the item at all. FTC advice: Insist on using a credit card or escrow service.

• Internet service provider scams
Reports of being trapped into long-term contracts of ISPs with big penalties for cancellation. FTC advice: Read bills carefully for unexpected charges.

• Web site design/promotions -- Web cramming
Getting a custom-designed Web site for a 30-trial period could be more than what was bargained for. FTC advice: Review telephone bills and unfamiliar charges.

• Internet information and adult services -- credit card cramming
Using a credit card to prove being older than 18 years could prove costly. FTC advice: Always dispute charges that were unauthorized.

• Multilevel marketing/pyramid scams
Some multilevel marketing programs are actually illegal pyramid schemes. FTC advice: When products or services are sold only to distributors, there's no way to make money. Avoid plans to recruit in such a scenario.

• Business opportunities and work-at-home scam
Promises of earning "big money" while sitting at home are often too good to be true. FTC advice: Talk to other people who have dealt with the company or an attorney.

• Investment schemes and get-rich-quick scams
Making an initial investment in a day trading operation claims to offer huge returns. FTC advice: Always check with federal securities and commodities regulators to discover the level of risk.

• Travel/vacation fraud
The lure of a cheap trip with "extras" at a bargain-basement price often doesn't reveal hidden charges and additional requirements. FTC advice: References are necessary, as well as a written cancellation policy.

• Telephone/pay-per-call solicitation fraud
"Free" access to adult material and pornography by downloading a "viewer" or "dialer" program is cause for concern. Through the program, consumers reported their modem being disconnected, then reconnected to the Internet through an international long-distance number. FTC advice: Read phone bills carefully and don't download any program to access a "free" service without reading all disclosures.

• Health care frauds
Items not sold through traditional suppliers are "proven" to cure serious and even fatal health problems, but in actuality people lose money to these sites. FTC advice: Always consult a health care professional.


Source: Federal Trade Commission

[Koffy Brown]

Originally posted by chgodj3:
</font><blockquote>quote:</font><hr />Originally posted by AshakiMzuri:
my sister is paying for this service...I need to get her this information...I'm just not big on generic type of anythings...so this type of stuff I don't even entertain, but I am curious has anyone ever used the services...I mean did you ever get the legal representation that you paid for...thanks for info G...

This service is real, but the sales aspect of it is schiesty. The push is to get others under you to sell, something like Mary Kay Cosmetics.

I utilize a service similar to that here at the bank, I pay a fee each month and have a lawyer on call who will handle a number of things for me. He represented me on a $150 speeding ticket that he got reduced to $50 with supervision.

Some prepaid legal service is just a number where you can get legal advice or have them handle legal documents for you. They don't even show up in court for you.

The service I use is legit.

The guy that started that prepaid legal service has a book out that I found to be a good read. </font>[/QUOTE]interesting

[Austin/Dallas]

Originally posted by Gman:
Top 10 Internet frauds

• Internet auction fraud
Consumers say they've received an item that is less valuable than promised, or don't receive the item at all. FTC advice: Insist on using a credit card or escrow service.

• Internet service provider scams
Reports of being trapped into long-term contracts of ISPs with big penalties for cancellation. FTC advice: Read bills carefully for unexpected charges.

• Web site design/promotions -- Web cramming
Getting a custom-designed Web site for a 30-trial period could be more than what was bargained for. FTC advice: Review telephone bills and unfamiliar charges.

• Internet information and adult services -- credit card cramming
Using a credit card to prove being older than 18 years could prove costly. FTC advice: Always dispute charges that were unauthorized.

• Multilevel marketing/pyramid scams
Some multilevel marketing programs are actually illegal pyramid schemes. FTC advice: When products or services are sold only to distributors, there's no way to make money. Avoid plans to recruit in such a scenario.

• Business opportunities and work-at-home scam
Promises of earning "big money" while sitting at home are often too good to be true. FTC advice: Talk to other people who have dealt with the company or an attorney.

• Investment schemes and get-rich-quick scams
Making an initial investment in a day trading operation claims to offer huge returns. FTC advice: Always check with federal securities and commodities regulators to discover the level of risk.

• Travel/vacation fraud
The lure of a cheap trip with "extras" at a bargain-basement price often doesn't reveal hidden charges and additional requirements. FTC advice: References are necessary, as well as a written cancellation policy.

• Telephone/pay-per-call solicitation fraud
"Free" access to adult material and pornography by downloading a "viewer" or "dialer" program is cause for concern. Through the program, consumers reported their modem being disconnected, then reconnected to the Internet through an international long-distance number. FTC advice: Read phone bills carefully and don't download any program to access a "free" service without reading all disclosures.

• Health care frauds
Items not sold through traditional suppliers are "proven" to cure serious and even fatal health problems, but in actuality people lose money to these sites. FTC advice: Always consult a health care professional.


Source: Federal Trade Commission

Don't forget The

FREE CREDIT CHECK
and
FREE CREDIT REPAIR SERVICES

[imported_Gman]

Originally posted by Austin/Dallas:
Don't forget The

FREE CREDIT CHECK
and
FREE CREDIT REPAIR SERVICES

Please tell me how this scam works ???

[Discogoddess]

Originally posted by Gman:
</font><blockquote>quote:</font><hr />Originally posted by C hristian:
can we also discuss preditory lending?
Is this what Capitol 1 is all about?

You mean promotions like NO interest\ No payments for two years [img]graemlins/OLA.gif[/img]

I've never done one but my guess is if you don't pay them in full on that due date (like you are really going to remember) then you are liable for all the back interest (probably at 20 something %). Anybody got the scope on these type of promotions ? </font>[/QUOTE]I purchased furniture from Bay Furniture a few years back with this type of promotion, and was very happy with the experience. Of course, most of the reason I was happy with the experience is because I paid off the balance before the interest-free time period was up. Some interest-free or "same as cash" promotions allow the interest to accrue during the life of the promotion so that you are hit with the full amount of interest the day the loan comes due. Some only calculate interest beginning on the day the loan becomes due (if you haven't paid before then).

I think, as with anything, it's buyer beware when it comes to these kinds of promotions. WHY ON EARTH would you accept one or two years with no payments or interest and NOT make any payments during that time period? Don't people realize that they're going to get hit with the payments AND all that interest if they wait and don't pay before the loan comes due? [img]graemlins/conf44.gif[/img]

[ August 21, 2003, 04:59 PM: Message edited by: Discogoddess ]

[Erob the One]

Man, don't sleepon the preditory lenders. The state of Illinois has a class action suit against household finance and they are paying dearly. On a side note, my aunt sued a preditory lending agency witht the help of some lawyers fro a legal aid system, and she got a fat check from them. The lawyers took the case without pay until it was settled. You can fight them if you been victimized.

True Story
I stopped at a gas station in Indiana on my way back to Detroit, and a guy pulled up in a grey Mercedes S class. I was pumping my gas and admiring his cars customization (walnut interior and AMG kit). He noticed this and gave me a tape on pre-paid legal services. The tape had all the usual success stories, but the bottom line was I had to give his code or something in order to get rolling. I have to admit, that it seemed like a good hustle but the pyramid is not good for me. I still have the tape for reference.

Erob

[Leslie]

The state of Georgia also has extreme laws with regard to predetory lending; aimed at subprime lenders.

[Hippie]

I don't know if anybody else has recieved this but lately I've recieved a couple of e-mails ( usually saying there from an african or an arabic nation ) stating something to the effect that current conditions have made them look for someone to collect money for them usually from an american account or wire transfering to your account and all they need is your bank account info, name, address etc....

I always just delete them but it's disturbing to think there may be people out there that would fall for something like this. So warn your relatives, friends and loved ones. Beware!!!

[imported_Gman]

So in summary lets be careful out there [img]smile.gif[/img]

[P-Flipp]

Question everything, trust no one!Friends approach me all the time for all kinds of investment possibilities,I'm always cynical and wary.It's best to do as much homework as possible.

[imported_Gman]

Originally posted by P-Flipp:
Question everything, trust no one!Friends approach me all the time for all kinds of investment possibilities,I'm always cynical and wary.It's best to do as much homework as possible.

But these are your friends, they do have your best interest at heart don't they ? [img]smile.gif[/img]