SCAMS BULLETIN Host Jay White is a volunteer attorney who provides free legal services for low income seniors in San Mateo County, California.

July 24, 2020

COMMON SCAMS

Courtesy US Consumer Financial Protection Bureau.

Scammers are constantly finding new ways to steal your money. You can guard against crooks and scammers if you know what to look for.

Debt collection scams

Legitimate debt collectors may contact you to collect on debts you owe. But there are scammers who pose as phony debt collectors to get you to pay for debts you don’t owe, or that have already been paid. Do not give financial information to anyone until you can verify the debt.

Debt settlement and debt relief scams

Debt settlement companies say they can renegotiate, settle, or in some way change the terms of a person’s debt to a creditor or debt collector. The Federal Trade Commission offers information about when a debt settlement offer may be a scam, http://www.ftc.gov.

Foreclosure relief scams

Foreclosure relief or mortgage loan modification scams are schemes to take your money or your house – often by making a false promise of saving you from foreclosure.

If you are having trouble making payments on your mortgage, a Housing & Urban Development (HUD) www.HUD.gov  approved housing counselor may be able to help you assess your options and avoid scams. If you think you may have been a victim of a foreclosure scam you can contact the Federal Trade Commission, www.ftc.gov. or the AARP Helpline number 877-908-3360.

Grandparent scam

If you receive a call from someone who sounds like a grandchild or relative asking you to wire or transfer money or send gift cards to help them out of trouble, it is likely a scam.

Imposter scams

Imposter scammers try to convince you to send money by pretending to be someone you know or trust like a sheriff, local, state, or federal government employee, or charity organization. Remember, caller ID can be faked. You can always call the organization or government agency and ask if the person works for them before giving any money.

Mail fraud

Mail fraud letters look real, but the promises are fake. A common warning sign is a letter asking you to send money or personal information now to receive something of value later.

Mortgage closing scams

Mortgage closing scams target homebuyers who are nearing the closing date on their mortgage loan. The scammer attempts to steal the homebuyer’s closing funds—for example, their down payment and closing costs—by sending the homebuyer an email posing as the homebuyer’s real estate agent or settlement agent (title company, escrow officer, or attorney).

Lottery or prize scams

Scammers will call or email congratulating you on being a winner. You may be asked for an upfront payment for fees or taxes. Similarly, a scammer might ask you to pay money in advance to get sweepstakes prize winnings.

Wire or money transfer fraud

Scammers use money wire transfers to steal your money. One example of a wire transfer fraud is one related to the “grandparent scam.” Once a money transfer is picked up, there is little you can do to get your money back. If someone you don’t know asks you to wire money, it is a red flag.

To report a scam, you can submit a complaint to the Federal Trade Commission http://www.FTC.gov. Other options include contacting your local police or sheriff’s office or your state attorney general to report the scam. Also, you can visit the National Association of Attorneys General, www.naag.org, or call the  AARP Hotline 877-908-3360.

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