As federal workers and contractors miss paychecks, consumer experts are warning them to be wary of scam artists who might seek to exploit their troubling situation.
Montgomery County Office of Consumer Protection said anyone in financial distress should watch out for bogus loans, illegal debt collection practices and work-at-home schemes.
Short term, unsecured loans – sometimes called “payday loans” because the loan is due on the next payday – are illegal in Maryland.
People should be wary of lenders who charge upfront fees, have no physical address or contact the borrower by phone. Often, payday lenders aren’t interested in credit history.
There are laws that prohibit harassment calls from debt collectors. Debt collectors may not call before 8 a.m. or after 9 p.m. and may not use the phone to repeatedly annoy or harass borrowers. Debt collectors may not misrepresent their identities.
Working from home may seem like a good way to bridge the financial divide between paychecks, but some work-at-home offers are scams. Among the phony income generating opportunities are job offers for “mystery shoppers” and “envelope stuffers.” Beware of these schemes.
Rev. Dr. Donna Taylor is the Pastor of Andrew Chapel, United Methodist Church on the Northern Neck in Montross, VA. Rev. Dr. Taylor promotes best practices for financial literacy and financial empowerment in the church and leads workshops throughout Northern Virginia. Currently, she serves as the Chair of the District Finance Committee. In May 2015, Rev. Dr. Taylor received her Doctor of Ministry from Virginia University of Lynchburg in Lynchburg, VA. Rev. Dr. Donna Taylor is married to Dr. David Taylor, who is also the Director of our church-based free clinic. They have two adult children and three grandchildren. In her leisure time, Rev. Dr. Taylor enjoys traveling, jogging, weightlifting, swimming, yoga, and interior decorating. In May 2015, Rev. Dr. Taylor received her Doctor of Ministry from Virginia University of Lynchburg in Lynchburg, Virginia. Rev. Dr. Taylor was born and raised in New York City and recently discovered her ancestral roots in Guinea-Bissau, West Africa. Rev. Dr. Donna Taylor is married to David Taylor and they have a son and a daughter. Their daughter is a educator and son is an Active-Duty Senior Seaman in the Navy married with three children. In her leisure time, she enjoys traveling, reading, swimming, writing poetry, crocheting and spending time with her family.