Baby Boomer Finance – Scams

Welcome to this weeks edition of Baby Boomer Finance – Scams

Show Notes:

Remember our podcast on Phishing?  Well there are many other scams out there.  Most sound very realistic until you are finished giving them money or your private information such as social security number or credit card number.  

Some things to remember:
    Don't pay for work before it is completed.  Maximum down payment should be 10% after a contract has been reviewed by your lawyer. Don't give money until both parties sign the contract.
    
    Don't ever give your social security number over the Internet.
    
    Over the phone be sure you know who you are speaking with before you give out personal nformation.  Banks and credit card companies don't ask for personal information over the phone.
    
One interesting scam I heard about recently was a phonemessage you receive stating your credit card interest rate is going up, unless you call this number immediately.  Not!!!  How often does your credit card company call you to tell you your interest rate is going up?

Be very careful about giving out your private information over the web or on the phone.  You could become a victim of indentity theft if you are not careful.