| Debt Relief - How To Avoid Being A Victim Of Credit Fraud |
| Articles - Mortgage |
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Do you worry about being a victim of misrepresentation or credit fraud? The good news is you won't be liable for debts incurred as a result of fraudulent activity. To combat this growing problem, state and Federal agencies have enacted laws to punish businesses that cheat or deceive consumers. These laws, called unfair and deceptive acts and practices (UDAP), are legislated for the protection of you as a consumer. If a business is privately operated, most likely it will be subjected to these laws.
Do you worry about being a victim of misrepresentation or credit fraud? The good news is you won't be liable for debts incurred as a result of fraudulent activity. To combat this growing problem, state and Federal agencies have enacted laws to punish businesses that cheat or deceive consumers. These laws, called unfair and deceptive acts and practices (UDAP), are legislated for the protection of you as a consumer. If a business is privately operated, most likely it will be subjected to these laws. There are many other types of consumer protection laws specifically directed at certain types of businesses for services such as gyms and warranty companies. If you can't find a particular law that addresses your problem, you may find some relief by checking into the UDAP laws. UDAP address such issues as deceptive contracts with unfair terms, false or misleading oral and written financial representations, and false claims of repairing a product when it's still malfunctioning. These deceptive practices can be so subtle; you'll discover the damage way later. Pay special attention to these alarming signs when you see it happening: 1) You're up trying to read a document in the presence of an agent and he or she keeps pressuring you to sign everywhere without adequate time to go over the contract at your own pace. 2) A representative who skirts your questions about what your total contract costs are and what happens when you default-but continues to hammer in the point of how low your beginning payments and interest rate will be. 3) The employee downplays the importance of all legally mandated disclosures and states how the government just wants to meddle in everyone's affairs. 4) You have difficulty understanding the representative's explanation of the service or contract. 5) The employees seem focused on engaging you in conversation for hours on end until your resistance wears down. 6) You can't seem to get a straight answer from the business concerning your total costs with their financing terms. 7) You get a representative who tries to act like they're looking out for your best interests or they make false statements about their knowledge or training. 8) They take advantage of helpless children or individuals who are at a distinct disadvantage such as foreigners with poor English or education, people with disabilities, and seniors. Beware of any offer that appears too good to be true-it usually ends up turning out that way. DISCLAIMER: This article is provided as information only and is not to be taken as financial advice. If you're a Christian with debt problems, become debt free with Christian credit counseling or by using these secret Christian debt solutions . |