Impoverished Neighborhood Scams

I’m Miriam Neff and I’m Valerie Neff Hogan with Wise Women Managing Money.

M Sadly there are predators in impoverished neighborhoods.  They knock on doors where they expect folks to be struggling and hungry for solutions to lighten their debt loads.  They identify with their predicament and are there to ‘help’.

V One scheme promises a better rate on a common bill like credit cards, utilities, mortgage rate, or any other bait they can imagine.  Their target then gives bank information, credit card information and the next thing, their bank is hacked and those bills are the same or higher.  Don’t open the door, give information by phone.  Vet any resource and get wise advice. 

M If it sounds too good to be true, it likely is too good to be true.