Predatory lending and special credit card offers designed to lure you in have been topics in the news lately, especially after it was revealed that employees at Wells Fargo were pressured to sign up people for credit cards whether or not they needed – or had the credit- to have them. Credit card offers, too good to be true loans, financial packages that are not clearly explained to you, and special offers that are bait and switch tactics are just some of the areas where scams lurk. This U.S. government website lists the most common scams in the U.S. including: financial fraud, pyramid schemes, telephone scams, charity scams, identity theft and more.
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The elderly are frequent targets for scams. But so are other groups, including women. I have been scammed not once but twice. The main reasons are I did not do my homework, ask enough questions, acted too impulsively and was too trusting. My lessons in scam-ology were painful. The best thing I could do is write it all off as a learning experience and help others not fall prey to shameless scams by having sharper eyes and ears.
Diana Hembree, Senior Editorial Director for the personal finance information site MoneyGeek.com joins me to discuss common scams you need to be aware of, how to be your best advocate to protect yourself and what you should do if find you have been scammed. Fearless Fabulous You! October 31, 4:25pmEST
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