Attorney, FTC's Division of Consumer & Business Education
Valentine’s Day conjures up images of hearts, flowers and a double-decker box of chocolate, nougat and nuts. But, metaphorically speaking, what happens when that stupendous bouquet of roses you got turns out to be a pile of weeds? Love might cloud our vision, but that doesn’t mean you have to turn a blind eye to consumer pitfalls. If you know what to look for, you can avoid some big missteps. While these are probably the least romantic Valentine sentiments ever, they just might save you some heartbreak down the road.
Senior Attorney, Division of Litigation Technology and Analysis, FTC
Put the long winter months to good use by getting your financial house in order for the rest of the year. A great place to start is to review your credit report, which can affect your ability to shop for a car or a home, or even apply for a job. It can also help you spot errors and prevent identity theft.
Lucky for you, we have a short video explaining just how to go about getting your free annual credit report.
You’re looking to buy a used car and want some peace of mind, so you choose a dealer that advertises rigorous, bumper-to-bumper safety inspections. You can drive off the lot with confidence, right? Not so fast.
Today the FTC announced that General Motors Company, Jim Koons Management Company, and Lithia Motors have agreed to settle charges they deceptively marketed their used cars when they made claims about their comprehensive inspections.
The season of giving is over — well, sort of. For many people, December’s gift-giving and feasting means a bigger-than-usual credit card bill in January. You know the advice: it’s always good to pay off your balance in full. But if you can’t, we’ve got some tips for paying down credit card debt.
Manuel and his wife just found the perfect minivan! They can’t wait to take it home and surprise the kids. But first, there’s the issue of how to pay for it. The dealer financing seems like a good deal, so they go for it. A few days later, the dealer calls to tell Manuel the financing deal fell through. He says Manuel has to accept a new, more expensive deal or he’ll lose the minivan. What will Manuel do?
Behind in paying your bills? You might find a debt collector calling. But the law says how and when they can do that. For example, they can’t call before 8 a.m., after 9 p.m., or while you’re at work if the collector knows that your employer doesn’t approve of the calls. Collectors may not harass you or lie when they try to collect a debt. And, if you ask them in writing to stop calling, they have to stop.
Pop quiz: If someone calls you asking for your bank account number, should you give it to them?
Answer: Never. Hang up — it’s a scam.
We’ve heard about different kinds of imposter scams on the rise. In one scenario, scammers call, pretending to work for Medicare. They say they need to verify your bank account number — and it might sound convincing. In truth, it’s a trick to steal your money.
Assistant Director, Division of Consumer and Business Education
There’s not much doubt that fraud can happen anywhere. To anyone. That’s the whole idea behind the FTC’s Every Community Initiative: fraud affects every community, and the FTC works to stop fraud wherever it happens. When we look at all the reports we get from consumers in communities across the country, these scams start to feel like something we face together, something we can imagine happening to us, or someone we care about. And when we share those stories, it really hits home.
Assistant Director, Division of Financial Practices, FTC
Even though it’s a new year, some things remain the same. Illegal debt collection is still a big problem – which means it’s a big deal here at the FTC. We’ve made some progress: you might remember the 115 cases we announced in November, working with more than 70 law enforcement partners. That was big, but we’re not done yet.
Today, we’re announcing four cases against debt collectors who did pretty much everything wrong – and the release of one video with the story of a veteran who did pretty much everything right.