Consumer Fraud

RSS
Modified on 2009/10/14 21:31 by admin
As consumers, we place trust in producers to supply us with goods and services without having to worry about deceptive marketing practices or any other types of false and misleading sales pitches. Unfortunately we live in a society where money is power and greed is considered by many as good. Stories of consumer fraud fill the headlines everyday and will continue to as long as people thirst for a profit.

Consumer fraud occurs when a member of the public suffers a financial loss or is deprived of his or her property or a legal right because of the deceptive practices of another. Consumers purchasing a good or service fall victim to false advertising, deceptive marketing and sales tactics or unfair methods of competition. Often it is facts about a product or service that are not disclosed that constitutes fraud. Examples include credit card fraud, insurance fraud, real estate fraud and business fraud.

Whether it is a credit card company that charges improper late and over limit fees or a mortgage company that implements predatory lending practices to consumers with poor credit, consumer fraud surrounds us. Companies release products on the market everyday promising cosmetic results that are never seen. In recent years, consumers have filed lawsuits against several diet pill manufacturers accusing them of deceptive marketing tactics. Many companies have eventually taken these products off the market as a result of overwhelming litigation.

Unfortunately, the elderly are a continued target of consumer fraud scams. Easily manipulated, seniors are often too trusting, a trait solicitors take advantage of. Elderly widows with little or no financial experience can lose large amounts of money in dishonest investments.

Consumer fraud is all around us. The public sometimes fails to see the big picture when purchasing a good or service, hearing only the manufacturer's promises instead. Consumers should research a product's history and the reputation of the manufacturer before any purchase. If a person is the unfortunate victim of consumer fraud, the hiring of an experienced attorney may be necessary.

If you have been the victim of consumer fraud, it may be important to contact an attorney who can help you protect your legal rights. Please keep in mind that there may be time limits within which you must commence suit.







See Also

  1. Credit Card Fraud
  2. Mortgage Litigation & Homeowner Fraud
  3. Xelan
  Name Size