Comments on: 7 Essential Skills to Protect Yourself from Scammers http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/ personal finance that makes cents Fri, 04 Jul 2008 22:19:50 +0000 http://wordpress.org/?v=2.5.1 By: jake http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-89747 jake Thu, 14 Jun 2007 22:56:32 +0000 http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-89747 Good list. One thing that these scams count on is GREED, this why people fall for these traps. I remember one episode of 20/20 where a surgeon lost half a million dollars to the Nigerian scam. He bluntly told the cameras, I was greedy. It summarize the whole scamming business. They set traps to find those who are greedy enough to fall into it. Good list. One thing that these scams count on is GREED, this why people fall for these traps. I remember one episode of 20/20 where a surgeon lost half a million dollars to the Nigerian scam. He bluntly told the cameras, I was greedy. It summarize the whole scamming business. They set traps to find those who are greedy enough to fall into it.

]]> By: Common Money Mistakes and How to Correct Them ? Get Rich Slowly http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-84709 Common Money Mistakes and How to Correct Them ? Get Rich Slowly Thu, 26 Apr 2007 12:00:26 +0000 http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-84709 [...] your mortgage. Remember the story from earlier in the month about the woman trapped by a mortgage she had failed to read? Don’t be like her. If you don’t know what your mortgage [...] [...] your mortgage. Remember the story from earlier in the month about the woman trapped by a mortgage she had failed to read? Don’t be like her. If you don’t know what your mortgage [...]

]]> By: John K http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83838 John K Sun, 15 Apr 2007 20:36:40 +0000 http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83838 One more thing to add about "scammers" is the new generation of debt collectors, known as "bottom feeders". These are companies, such as AFNI,Asset Acceptance, Palisades Collection, and several others, that buy very old debts and attempt to collect on them. On several occasions, we have been contacted by them with only the minimum amount of information, including a maiden name from years ago in another state that my girlfriend just happened to live in, but not her bill. Once you call them or talk to them, many of these bottom feeders will lie, cheat and steal, in direct violation of the Fair Debt Collection Practices Act. One of them told my girlfriend that not paying her car loan was a felony, she was going to prison, and they would garnish her wages starting today if she didn't pay. (if a creditor can charge you with a felony without going through the District Attorney, and send you to prison without a judge, then what wages would you have to garnish?). Another creditor, Asset Acceptance, tried to collect a medical bill for $45 that was illegally charged. The insurance company was never billed in the first place, then when they were finally billed after I called, they billed it wrong and my insurance company said that the cost of materials was included in another charge. I have on my insurance the statement that I can not be billed for any charges that insurance does not cover or qualify from any in-network provider, yet they still went after me until I wrote a letter and involved my State Attorney in a possible "insurance fraud" cause. The bottom line is, watch for the fake debt collectors as well when watching for scams, don't take their telephone calls as they will lie to you to collect their commission, and accept only mailed responses. If you receive a letter of a debt or see something on your credit report, dispute the debt in writing and/or demand proof of the debt. One more thing to add about “scammers” is the new generation of debt collectors, known as “bottom feeders”. These are companies, such as AFNI,Asset Acceptance, Palisades Collection, and several others, that buy very old debts and attempt to collect on them. On several occasions, we have been contacted by them with only the minimum amount of information, including a maiden name from years ago in another state that my girlfriend just happened to live in, but not her bill.

Once you call them or talk to them, many of these bottom feeders will lie, cheat and steal, in direct violation of the Fair Debt Collection Practices Act. One of them told my girlfriend that not paying her car loan was a felony, she was going to prison, and they would garnish her wages starting today if she didn’t pay. (if a creditor can charge you with a felony without going through the District Attorney, and send you to prison without a judge, then what wages would you have to garnish?).

Another creditor, Asset Acceptance, tried to collect a medical bill for $45 that was illegally charged. The insurance company was never billed in the first place, then when they were finally billed after I called, they billed it wrong and my insurance company said that the cost of materials was included in another charge. I have on my insurance the statement that I can not be billed for any charges that insurance does not cover or qualify from any in-network provider, yet they still went after me until I wrote a letter and involved my State Attorney in a possible “insurance fraud” cause.

The bottom line is, watch for the fake debt collectors as well when watching for scams, don’t take their telephone calls as they will lie to you to collect their commission, and accept only mailed responses. If you receive a letter of a debt or see something on your credit report, dispute the debt in writing and/or demand proof of the debt.

]]> By: 7 consejos para protejerse de estafadores, chantas y demas alimañas « Informacion de Peso http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83684 7 consejos para protejerse de estafadores, chantas y demas alimañas « Informacion de Peso Fri, 13 Apr 2007 12:33:28 +0000 http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83684 [...] que te pueden hacer la vida imposible o por lo menos amargartela un poco; en este blog, get rich slowly, dan algunos consejos para [...] [...] que te pueden hacer la vida imposible o por lo menos amargartela un poco; en este blog, get rich slowly, dan algunos consejos para [...]

]]> By: Michael Halls-Moore http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83665 Michael Halls-Moore Fri, 13 Apr 2007 09:13:32 +0000 http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83665 I once got scammed by a guy back in my undergraduate days. He came round to the house and told us his gas prices would be cheaper. I cannot think for the life of me why I actually accepted the offer. It didn't work out. I switched back! I once got scammed by a guy back in my undergraduate days. He came round to the house and told us his gas prices would be cheaper.

I cannot think for the life of me why I actually accepted the offer. It didn’t work out. I switched back!

]]> By: kev http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83647 kev Thu, 12 Apr 2007 20:31:40 +0000 http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83647 Good list. I think following Rule #1 could solve a good chunk of the financial mistakes I've seen friends make. I would also add to your list what I like to call The Carrot Top Rule: "If the odds of Carrot Top winning an Academy Award for acting are better than the odds of an apparent scam NOT being a scam, it’s a scam." I repeat this rule to myself whenever I see a Rolex watch on sale for $12 at eBay. Good list. I think following Rule #1 could solve a good chunk of the financial mistakes I’ve seen friends make. I would also add to your list what I like to call The Carrot Top Rule:

“If the odds of Carrot Top winning an Academy Award for acting are better than the odds of an apparent scam NOT being a scam, it’s a scam.”

I repeat this rule to myself whenever I see a Rolex watch on sale for $12 at eBay.

]]> By: Wesley http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83646 Wesley Thu, 12 Apr 2007 18:38:39 +0000 http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83646 I've always enjoyed the movie "For a few dollars more". In it, the character of Indio makes a fairly lofty statement..."It's easy to get the money, the trouble is keeping it". I've always found it funny that financial wisdom can come from cowboy movies :) ...but then, perhaps that's just me I’ve always enjoyed the movie “For a few dollars more”. In it, the character of Indio makes a fairly lofty statement…”It’s easy to get the money, the trouble is keeping it”. I’ve always found it funny that financial wisdom can come from cowboy movies :) …but then, perhaps that’s just me

]]> By: anonymous.. http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83627 anonymous.. Thu, 12 Apr 2007 15:28:12 +0000 http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83627 good post.. even myspace has spam now.. from free starbucks to ipods.. i learned in life that NOTHING is FREE.. so you know that stuff is FAKE! there are also ways for spammers/hackers to get your password on myspace.. so it's advised to change it on a regular basis good post.. even myspace has spam now.. from free starbucks to ipods..

i learned in life that NOTHING is FREE.. so you know that stuff is FAKE!

there are also ways for spammers/hackers to get your password on myspace.. so it’s advised to change it on a regular basis

]]> By: Bob http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83626 Bob Thu, 12 Apr 2007 15:13:58 +0000 http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83626 - Refuse transactions you do not initiate. That one goes a long way for a lot of things, most of all keeping on a budget. Back before DoNoCall.gov that was my standard reply to telemarketers. - Refuse transactions you do not initiate.

That one goes a long way for a lot of things, most of all keeping on a budget. Back before DoNoCall.gov that was my standard reply to telemarketers.

]]> By: J.D. http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83625 J.D. Thu, 12 Apr 2007 15:06:22 +0000 http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83625 You are absolutely correct. I tried not to come across as if I think people should take advantage of friends. My point was that it's a good idea to make the most of your friends' skills, and to foster relationships that are *mutually* beneficial. I'm not friends with my accountant because he's my accountant. I'm friends with him because he's a nice guy and fun to be around. I like him. I would be friends with him even if he were a tulip farmer. I'd be friends with my lawyer even if he were a librarian. But I think it's important to rely upon the skills of the people you know in order to protect yourself. (And by all means, pay for the advice when it's appropriate!) You are absolutely correct. I tried not to come across as if I think people should take advantage of friends. My point was that it’s a good idea to make the most of your friends’ skills, and to foster relationships that are *mutually* beneficial. I’m not friends with my accountant because he’s my accountant. I’m friends with him because he’s a nice guy and fun to be around. I like him. I would be friends with him even if he were a tulip farmer. I’d be friends with my lawyer even if he were a librarian. But I think it’s important to rely upon the skills of the people you know in order to protect yourself. (And by all means, pay for the advice when it’s appropriate!)

]]> By: Matias http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83624 Matias Thu, 12 Apr 2007 14:58:18 +0000 http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83624 Hi, Really good post. Simple and clear as water. You could also put something about the "internet scammers" Hi,
Really good post. Simple and clear as water. You could also put something about the “internet scammers”

]]> By: Sarah http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83623 Sarah Thu, 12 Apr 2007 14:57:44 +0000 http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83623 I don't think it's appropriate to recommend making friends with people based on their profession and then asking them to provide professional advice (which is usually the source of their livelihood) for free. If you want a good lawyer, accountant, etc., then hire one. Make your friends for their personal qualities and don't expect freebies. I don’t think it’s appropriate to recommend making friends with people based on their profession and then asking them to provide professional advice (which is usually the source of their livelihood) for free. If you want a good lawyer, accountant, etc., then hire one. Make your friends for their personal qualities and don’t expect freebies.

]]> By: Dylan http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83618 Dylan Thu, 12 Apr 2007 13:19:29 +0000 http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83618 All great points. A common theme in several of those skills is to take your time and don’t rush in. Anything worth doing, is worth doing right. All great points. A common theme in several of those skills is to take your time and don’t rush in. Anything worth doing, is worth doing right.

]]> By: Keonne http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83617 Keonne Thu, 12 Apr 2007 13:19:12 +0000 http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83617 Great post. A few years back I was scammed on ebay. It was a too good to be true situation. In my case it WAS too good to be true. I lost $550 bucks (but im not stuck with encyclopedias!) Great post.

A few years back I was scammed on ebay. It was a too good to be true situation. In my case it WAS too good to be true. I lost $550 bucks

(but im not stuck with encyclopedias!)

]]> By: Andrew http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83615 Andrew Thu, 12 Apr 2007 13:15:08 +0000 http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83615 #5 would be #2 if I were creating this list. And it should be in a 24 point font to drive the point home. Too many people assume that what the salesperson promised will be what's in the paperwork - but salespersons's promises are not binding legal contracts, the papers you signed are. Differences may simply be "clerical errors" - but if there are any, and they're in the seller's favor, you can bet the seller will hold you to it. And my #1 is something that you left out: Assume that all salespeople are lying, cheating scum who are out to rip you off. While this may seem a bit harsh towards salespeople, the point is that salespeople are trying to separate you from your money - and many of the work on commission, so the more money they get from you, the more they get paid. Verify everything that they say. Make sure that what you're getting is what you agreed to before you take out your wallet or your checkbook. #5 would be #2 if I were creating this list. And it should be in a 24 point font to drive the point home. Too many people assume that what the salesperson promised will be what’s in the paperwork - but salespersons’s promises are not binding legal contracts, the papers you signed are. Differences may simply be “clerical errors” - but if there are any, and they’re in the seller’s favor, you can bet the seller will hold you to it. And my #1 is something that you left out: Assume that all salespeople are lying, cheating scum who are out to rip you off. While this may seem a bit harsh towards salespeople, the point is that salespeople are trying to separate you from your money - and many of the work on commission, so the more money they get from you, the more they get paid. Verify everything that they say. Make sure that what you’re getting is what you agreed to before you take out your wallet or your checkbook.

]]> By: Dan http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83614 Dan Thu, 12 Apr 2007 13:12:25 +0000 http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83614 Great list! Keeping alert when confronted with anything of this nature is so important. Another BIG way to protect yourself from scammers is to "know thyself". Let's be honest; scammers are the most successful with people who are sitting passively, waiting for that to-good-to-be-true opportunity to come along. If we regularly (and CONSCIOUSLY) confront our own issues of contentment/discontentment, define needs/wants, and review our financial goals, we're much less likely to succumb to any "opportunity" that comes our way. Great list! Keeping alert when confronted with anything of this nature is so important. Another BIG way to protect yourself from scammers is to “know thyself”. Let’s be honest; scammers are the most successful with people who are sitting passively, waiting for that to-good-to-be-true opportunity to come along. If we regularly (and CONSCIOUSLY) confront our own issues of contentment/discontentment, define needs/wants, and review our financial goals, we’re much less likely to succumb to any “opportunity” that comes our way.

]]> By: plonkee http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83611 plonkee Thu, 12 Apr 2007 12:26:05 +0000 http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83611 To me, reading everything you sign also means understanding everything you sign. I can read lots of things, but if I don't really know what it says then I may as well not bother. If you think that you will find it difficult to understand a document, seek help. To me, reading everything you sign also means understanding everything you sign. I can read lots of things, but if I don’t really know what it says then I may as well not bother. If you think that you will find it difficult to understand a document, seek help.

]]> By: DC Economist http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83610 DC Economist Thu, 12 Apr 2007 12:20:14 +0000 http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83610 Read Casey Serin's Website Do nothing that he does. You should be scam free Read Casey Serin’s Website

Do nothing that he does.

You should be scam free

]]> By: limeade http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83609 limeade Thu, 12 Apr 2007 12:13:05 +0000 http://www.getrichslowly.org/blog/2007/04/12/7-skills-to-protect-yourself-from-scammers/#comment-83609 A very good list. I especially like numbers 4 and 6. Learning to say no was one of the best lessons I've learned to date. I also will never invest in something that I don't understand. If I don't understand how an investment will make money, why would I put my money into it? -limeade A very good list. I especially like numbers 4 and 6. Learning to say no was one of the best lessons I’ve learned to date. I also will never invest in something that I don’t understand. If I don’t understand how an investment will make money, why would I put my money into it?

-limeade

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