It can be frustrating feeling that you are overpaying for a service or are being hit with unexpected fees. It seems simply like a fact of life or a part of today’s reality of doing business, but there comes a point where you may decide that enough is enough. There are some minor tricks that don’t seem to be worth the time and trouble of pursuing, but many consumers are unaware of their rights and what they can do about being cheated.
There is an old saying, let the buyer beware, but the consumer should not have to accept dishonest practice as normal. Few people like a pushy salesperson, but an overly aggressive manner may indicate that all is not well when it comes to business ethics. Salespeople are often very pushy if they are desperate to get rid of a flawed product or are trying to get you into a transaction that is not to your benefit. In addition, there have been cases of phishing; and identity theft perpetrated by those making irregular sales. Don’t let a hasty transaction rob you of personal information.
Problems with Banks and Lenders
Predatory lending is a phenomenon; that made the headlines during the financial crisis. Unfortunately, unscrupulous lenders target desperate people struggling with pre-existing debt and bad credit. In addition to charging prohibitively high-interest rates and lending to borrowers in hot water out of a desire to foreclose on their property, bad banks may flip loans. Flipping refers to refinancing a loan repeatedly for extra fees. Notify an attorney to see what you can do about flipping and other types of dishonest lending.
Deceitful Insurance Practices
Insurance companies often prey on consumers when they should be lending them a helping hand. One thing to look out for is racking, or having the customer pay high fees for premium insurance and rolling the costs into the principal. Insurance companies may delay providing coverage if there has been an accident or may refuse to honor a claim on specious grounds. If you feel your insurance company is not treating you fairly, speak to Bordas and Bordas Attorneys.
While consumers should do their due diligence before purchasing a product, they should also be protected from items that are dangerous. Whether it is industrial equipment that can cause injury or flammable mattresses and defective tires, you are entitled too safe, effective products. Unscrupulous companies try to get rid of flawed merchandise to save money, and try to claim that the danger or illness was not the result of the faulty product. An attorney can prove that product was defective and will not let dishonest companies get away with unscrupulous practices towards their customers.
You expect your stockbroker to represent you and to make investments in your behalf. Too often, people discover that their brokers are practicing churning, or making an excessive amount of transactions to produce higher commission fee for themselves. In addition, the broker could be using funds in your bank account to make additional investments or make unauthorized financial decisions.
What to Do
Consult with an attorney if you feel that you have been the victim of a tainted or defective product, dishonest insurance, lending practices or unauthorized investments. Discuss what your options are, including possibly filing a lawsuit or at least demanding compensation from the company or firm. There is never a reason to tolerate abuse. A consumer and exploitative strategies from those you trust to sell you a product in acceptable condition or provide a service.
Make sure you read all contacts thoroughly and keep a record, including receipts, of all of the transactions. If you have a paper or digital trail, you can make consultation with an attorney and litigation easier to carry out. Work with a firm that has experience in the relevant area and has a track record of successes.