August 21st, 2010 by Reed Allmand 
In a new Public Television series by World Progress Report, Joan Lunden will help consumers identify scams and hopefully avoid them. With the economy as it is, scams have become common especially scams that prey on vulnerable homeowners facing foreclosure, credit card debtors facing lawsuits and just about anyone facing any type of financial issue. While many scams take place over the internet, many others occur via phone, fax and even in face-to-face encounters. Below are few tips on how consumers can avoid scam artists especially those who target homeowners facing foreclosure:
- Don’t share information about your foreclosure, your home or your financial situation with anyone that you do not know and trust. Many people will call you and attempt to sound official when they are only scam artists. These individuals will attempt to extract private information like your social security number, your bank account information or your credit card. They may even try to get you to wire money to them right away. Don’t do it.
- If someone claiming to represent your credit card company or mortgage company (or any other institution you do business with) threatens you with violence or prison because you have failed to pay a debt, feel free to hang up on them. It is very likely they are simply a scam artist trying to scare you or some unscrupulous bill collector who has just broken the law. Even if you are facing foreclosure or a credit card lawsuit, you are not going to jail because you failed to pay a debt. There are no debtor’s prisons.
- Do not believe anyone who says that they have a program that will save you from foreclosure –guaranteed, unless they are suggesting that you file bankruptcy. Bankruptcy is the only legal maneuver that can put a legal stop to foreclosure, if someone is telling you otherwise, they are probably a scam artist.
If you get the opportunity, please take the time to watch the World Progress Report on PBS and get the information and tools needed to help you identify and avoid scam artists, especially those who target homeowners facing foreclosure.
About Reed Allmand
Allmand's vision is rooted in his own financially precarious childhood in Abilene "My father always had difficulty holding a job and supporting our family, so after my parents divorced when I was 12, my sister and I got jobs to help make ends meet," he recalls. "I remember what it felt like as a child to worry that our car would be repossessed or home foreclosed on."
View all posts by Reed AllmandSubscribe
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