Lawyers Advice: Five Common Scams Impact Credit Reporting

Consumer Rights Law Firm Serving Clients in Chicago, Illinois, and Nationwide

The Chicago credit reporting lawyers at Markoff Leinberger are pleased to learn that many states across the country are taking steps to educate consumers about fraud and common financial scams.

Why is it important to be aware of the scams that are damaging the credit of unsuspecting consumers? Because the Federal Trade Commission reports that an estimated $1.7 billion was lost to fraudulent activity in 2014 alone.

Educated consumers are the best weapon against the scams that hurt credit reporting and may require a lawyer’s assistance to correct.

Here are five of common consumer scams that concern state attorneys general nationwide:

Consumer Scam No. 1: Affordable Care Act Scams These scammers try to trick consumers into sharing personal information by claiming to sell low-cost health insurance.

Consumer Scam No. 2: Business Opportunity Fraud Before committing to any investment, no matter how promising, make sure the opportunity checks out with the Federal Trade Commission’s Franchise and Business Opportunity Rule.

Consumer Scam No. 3: Charity Fraud Especially after natural disasters or other high-profile tragedies, it’s important to research a charitable organization before contributing money to it.

Consumer Scam No. 4: Cashier’s Check Scams Beware of fake cashier’s checks. Even when these documents look real, be wary if you were not expecting any money or bank deposits and one just happens to show up.

Consumer Scam No. 5: Government Imposter Scams These scammers pretend they’re from a government agency, then contact victims by telephone or email with hopes of coercing them to turn over cash, personal information or both.

If you believe you’ve been the victim of a scam, the Chicago consumer rights and credit reporting lawyers at Markoff Leinberger can help. You can reach us online to book a consultation or call our offices directly at 1 (877) 905-5161.