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01/27/2012

BBB warns about Refund Anticipation Loans

Tax preparers often offer Refund Anticipation Loans to allow you to immediately receive your tax refund. However, RALs are not an actual refund from the IRS but are a short-term loan from the company.

01/02/2012

Avoid Being “Yo-Yoed” Back to the Dealership After Purchasing a Car

A new car buying practice, dubbed “yo-yoing,” is being scrutinized by car buyers and consumer advocacy groups across the nation. “Yo-yoing” happens when a consumer drives a new car off the lot, only to find out later that the auto dealer was unable to secure financing. The auto dealer then offers to sell the consumer a different car or raises the interest rate. Sometimes, the dealer simply repossesses the original car and keeps the down payment, claiming it goes towards the mileage the customer placed on the car.

11/04/2011

FTC Shuts the Door on Deceptive Mortgage Relief Company

The Federal Trade Commission has resolved an action against Residential Relief Foundation, a company targeting homeowners struggling to keep their homes. According to consumer complaints filed with Better Business Bureau, Residential Relief Foundation used clever marketing to trick consumers into believing the company was a government agency and part of a program the Obama Administration had put into effect. The company claimed it could help struggling consumers with late fees, interest rates and reduce mortgage payments.


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