Common Scams Target Elderly
Many of the latest scams take advantage of fear, hope and trust of older Americans. If you receive a call, letter or a personal visit from any one you do not know, claiming the following, chances are you have been contacted by a con artist.
- You need a new roof.
- I can get you a loan for that new roof.
- We can fix your bad credit.
- You are a winner.
- I want to help you pay your bills.
- This seminar will change your life.
Before doing business with anyone, contact the Better Business Bureau to verify they are legitimate. If you have been scammed, report the crime to the police and the Federal Trade Commission. Nobody enjoys admit ting they have been a victim, but it is important to take action to stop these people and companies — before they cheat other senior citizens out of a lifetime of earnings.
This article is provided courtesy of BALANCE, a financial education and counseling services. As a TFCU member, you may take advantage of this service at no cost to you by calling 1-888-456-2227.
How to Protect Your Passwords
With identity theft on the rise, protecting yourself from hackers can be more challenging than ever. Taking a few precautions can save you a lot of trouble and headache.
- Pick a strong password. Don’t use common words or significant dates in your life. Create a password that is a mix of capital and lowercase letters, numbers and symbols so it can’t be guessed easily.
- Memorize your passwords. Do not write them down. If you must to remember them, keep them in a locked file or drawer for protection.
- Use multiple passwords. This limits the amount of damage that can be done, if your password falls into the wrong hands.
Debt Relief Scams Often Too Good To Be True
There are an increasing number of companies claiming to help struggling Americans by lowering their interest rates or by reducing the total amounts they owe. Debt settlement companies are popping up and preying on consumers’ trust. Debt relief scam artists may claim to be non-profit to make potential clients feel secure, when in all actuality, they operate for profit in the form of fees collected.
To an individual facing an overwhelming amount of debt, the prospect of negotiating with their creditors sounds like a dream come true. It is a good idea to check out the company with the Better Business Bureau or your local consumer protection office. Shop around and compare several different companies. Do research by asking questions and getting answers in writing. Credit counselors should spend time with you and get to know your financial situation before they make a recommendation.