Wake up call over scams to land you into debt
Be wary of TV shows promising you huge wads of cash to clear debt simply by picking up the phone.
Some companies are charging up to 75p per call even if you cannot get through. Callers unaware of the mounting fees on their phone bills have been astonished when their bills have arrived with figures rocketing to hundreds of pounds. One woman ran up a debt to the sum of £700 simply by trying to submit her answer to a TV quiz show. Programmes can receive up to 500 calls per minute so the chances of ever actually reaching the studio are very small.
Other cons to steer clear of
Beware of lottery scams which come free with magazines and newspapers. After scratching off some grey coloured panels, you are promised a prize of a lifetime simply by picking up the phone and calling an 090 number. What the organization keeps discreet is that calls to this number will cost £1.50 per minute and recorded messages are guaranteed to last well into six minutes. When you receive your prize, it is likely to be worth less than a cappuccino at your local café.
If you invested shares in a company that you thought would bring in profits but have nose-dived, do not be mislead by bogus investors who promise to buy your shares from you for 50% of their value. This is not a way to make money from a lost cause as there is usually a sign-up fee. Once you have forked out for this privilege, you will never hear from the investor again.
To put it in a nutshell, if something seems too good to be true, it probably is. Don’t get sucked in by false promises of wealth as the only person who will ever get rich is the scammer. Naivety is no excuse for running up debt; keep your eyes peeled and your head clear when it comes to finances so as you can smell a rat before you have to seek debt advice.
Some companies are charging up to 75p per call even if you cannot get through. Callers unaware of the mounting fees on their phone bills have been astonished when their bills have arrived with figures rocketing to hundreds of pounds. One woman ran up a debt to the sum of £700 simply by trying to submit her answer to a TV quiz show. Programmes can receive up to 500 calls per minute so the chances of ever actually reaching the studio are very small.
Other cons to steer clear of
Beware of lottery scams which come free with magazines and newspapers. After scratching off some grey coloured panels, you are promised a prize of a lifetime simply by picking up the phone and calling an 090 number. What the organization keeps discreet is that calls to this number will cost £1.50 per minute and recorded messages are guaranteed to last well into six minutes. When you receive your prize, it is likely to be worth less than a cappuccino at your local café.
If you invested shares in a company that you thought would bring in profits but have nose-dived, do not be mislead by bogus investors who promise to buy your shares from you for 50% of their value. This is not a way to make money from a lost cause as there is usually a sign-up fee. Once you have forked out for this privilege, you will never hear from the investor again.
To put it in a nutshell, if something seems too good to be true, it probably is. Don’t get sucked in by false promises of wealth as the only person who will ever get rich is the scammer. Naivety is no excuse for running up debt; keep your eyes peeled and your head clear when it comes to finances so as you can smell a rat before you have to seek debt advice.
posted by teatreebergamot at 7/18/2007 06:05:00 AM
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