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San Diego, CA.
Your check is in the mail, but you better not cash it or
you might discover you have inadvertently signed up for a
new magazine subscription, long distance telephone service
or Internet service provider.
It is exciting to get money in the mail. More and more
companies, including some of the giants of the retail
industry, are using so-called checks in the mail to lure
unsuspecting consumers into cashing them and unwittingly
signing up for some service which brings about more
expense.
The checks are in fact real and they will not bounce, at
the bank, however, they come with many conditions usually
contained in the fine print on the front and or back of
the check, that you may regret agreeing to when you
endorsed the check for cashing or a deposit.
AT&T has been sending out $35 checks to people who switch
their telephone service from AT&T to another service
provider. The $35 is an inducement to get those customers
to come back to AT&T. To their credit, AT&T does put a
disclaimer on the front of the check, unlike many others
who use this direct mail pitch, which clearly states that
signing and cashing the check will switch your long
distance, local toll and local services back to AT&T.
There are more important details on the back of the check,
but cash hungry consumers may not take the time to
discover the new things they may be signing up for be
cashing the check.
The word to consumers, young and old is: caution! Once one
of these so called checks is cashed, it will be very
difficult to reverse the new services you may have
unintentionally ordered.
The consumer's best defense against this type of marketing
tactic is to read the fine print and don't expect free
money for nothing, because if it sounds too good to be
true, that AT&T or some other company is sending you $35
because they like you, then it probably is not true.
For more information on how to avoid consumer scams visit
the ICFE at www.icfe.info
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To receive the same information by mail, please send a
self-addressed, 60 cent, stamped envelope to the ICFE,
Avoiding Scams, PO Box 34070, San Diego, CA 92163-4070.
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About the ICFE:
About the
ICFE:
The Institute of Consumer Financial Education (ICFE), founded in 1982 by the
late Loren Dunton (creator of the “certified financial planner” (CFP)
designation) and it is dedicated to helping consumers of all ages to improve
their spending, increase savings and use credit more wisely. The ICFE trains and
certifies Personal Finance Instructors for its own curriculum. It also trains
and certifies Credit Report Reviewers and Identity Theft Prevention Specialists.
The ICFE is an award winning, nonprofit, consumer education organization that
has helped millions of people through its education programs and resources. It
publishes the Do-It-Yourself Credit File correction Guide, now in its 16th
printing and has distributed over one million “Credit/Debit Card Warning Labels”
and “Credit/Debit Card Sleeves” world wide.
The ICFE became an official partner with the Department of Defense/Financial
Readiness Campaign in June of 2004.
The ICFE is also a partner in the national Jump$tart Coalition for Financial
Literacy and the California Jump$tart chapter. The ICFE staff is also active
with San Diego Saves, an offshoot of America Saves, and the California Student
Debt Resource Awareness Project (CASDRAP) (studentdebthelp.org).
The ICFE’s on-line help for consumers who spend too much was featured in PARADE
Magazine in the Intelligence Report section. The money helps and tips are from
“The Money Instruction Book,” a course in personal finance, positioned to become
among the premier programs in the new bankruptcy and debtor education
initiatives.
The ICFE Web site at:
http://www.icfe.info helps consumers with mending spending, learning about
the proper use of credit, budget and expense guidelines, how to set up and
implement a spending-plan and also how to access financial education courses and
videos and how to teach children about money. Other ICFE services include a free
eNewsletter, and an online resource center of financial education learning
tools, including videos, books, software and personal finance courses.
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