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Telemarketer fraud
It’s important to know who you’re dealing with. If a company or charity is unfamiliar, check it out with your state or local consumer agency and the Better Business Bureau.
Loan Scams
Before you sign on the dotted line, get all of the loan terms in writing, including the payment schedule and interest rate. If the lender isn't familiar to you, contact your state banking department and ask how to confirm that it's licensed and operating properly.
SLAMMING
The term used to describe what occurs when a customer’s long distance service is switched from one long distance company to another without the customer’s permission. Such unauthorized switching violates FCC rules.
Warranties
Warranties and guarantees are a manufacturer’s or seller’s promise to stand behind its product or service.
Lemon Law Protection
Lemon Law applies to any new vehicle purchased and registered laws are by state
Implied warranties
under state law, consumers are guaranteed certain implied warranties. A “warranty of merchantability” comes automatically with every sale and is the seller’s promise that a product is fit for its ordinary use.
Small Claims Court
Small claims courts resolve disputes involving claims for small amounts of money. While the maximum amounts that can be claimed or awarded differ from state to state, court procedures generally are simple, inexpensive, quick and informal.
Counterfeit Drugs
Pay attention to packaging. Check for altered or unsealed containers, or changes in the packaging or label. If you know the size shape, color, and taste of the medications you take, you will more easily identify possible counterfeits.
Collateral
Property, such as stocks, bonds or a car, offered to support a loan and subject to seizure if you default.
Balloon Payment
A large extra payment that may be charged at the end of a loan or lease.
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Did You Know?