Business Scams

Different business scams

Rent-to-own businesses provide consumers with products, like furniture, for a monthly fee. Although seemingly affordable, you may end up paying exorbitant prices for these products through the long-term rental agreements. Moreover, rent-to-own businesses do not typically cooperate with the credit industry – they don't report your payment record to the credit bureaus.

You are better off making a purchase using a major credit card or department store credit card than using a rent-to-own business. In doing so, you save money and obtain a credit history.

Instant Income Tax Refunds. Companies offering instant income tax refunds provide consumers with offers often too good to be true, like instant income tax refunds and other incentives. Beware of offers like these! Instant tax refunds or refund anticipation loans are an expensive way to get your tax refund more quickly – you may gain a week or so in getting your money but you'll pay a high fee for the service.

Protect yourself from these companies by learning about tax laws or using the services of a tax attorney or accountant. File your tax returns electronically and ask for the funds to be transferred directly into a savings or checking account. Your return will be promptly processed and your funds will be safe and secure without the additional cost.


Avoiding credit traps.


    Fannie Mae
    Freddie Mac
Ginnie Mae


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