Have you seen a sign offering a car title loan — also known as a pink-slip loan, title pledge or title pawn? These loans use your paid-off car as collateral, and you get a small, short-term loan with a high interest rate. You usually have to repay the loan in 15 or 30 days, and the annual percentage rate (APR) is often more than 100%. If you don’t pay back the loan, the company can repossess your car — and then you’re worse off than you were before. It’s a very expensive way to get money.
Unlimited talk, text, and data for $45 per month with no contract? That sounds like a great deal, but according to a recent FTC lawsuit, millions of people who bought unlimited mobile plans from Straight Talk, Net10 Wireless, Simple Mobile, and Telcel America didn’t get what they paid for. And now they may be eligible for refunds.
Assistant Director, Division of Marketing Practices, FTC
When the headlines change, scammers follow: Natural disaster? Charity scams will follow. Medicare open season? Health care scams will follow. So we know from experience that, when immigration is in the headlines, scams will follow.
Here are some things to keep in mind if you’re in the immigration process – or would like to be – regardless of what’s in the news.
Every year, National Consumer Protection Week (NCPW), encourages people and businesses to learn more about avoiding scams and understanding consumer rights. This year, NCPW takes place March 1-7, 2015. NCPW highlights free resources from government agencies and consumer organizations to help people make smarter buying decisions and spot rip-offs.
If you’re behind in paying your bills, you may be contacted by a debt collector, but that doesn’t mean a collector can treat you unfairly. Under federal law, debt collectors — including collection agencies, lawyers who collect debts on a regular basis, and companies that buy delinquent debts and then try to collect them — can’t use abusive, deceptive or unfair practices to collect from you. But not all debt collectors play by the rules.
Attorney, Division of Consumer and Business Education
When it comes to dealing with debt collectors, you have rights. That’s why the FTC created a new publication called Cobradores de Deuda. This Spanish-language graphic novel tells people about the rules for debt collectors, and what to do if a debt collector doesn’t follow the rules.
The holidays are over. Hope you had a grand time! I know I did, but I also know a few people who are experiencing a bit of post-holiday frustration with products and services they bought. But never fear, the FTC is here with some tried and true tips to help resolve your problems. The fact is, most businesses want to keep you happy so you'll keep coming back.
I don't know about you, but I'm concerned when businesses don't play by the rules. Case in point: Businesses are not allowed to lure customers in with deceptive advertising only to tell them the truth later in the transaction. But the FTC says that's just what a Nissan dealership in Mesquite, Texas, did.