Contractor Scams

Tags:: Public Benefit Scam Contractor Fraud Senior Citizen Home Savings Payment

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By: karmavisiontv
Subscribers: 6
Updated: 17-Mar-08
Videos: 189

English
Comments: 1
Views: 143
Added: 11-Mar-08

James Quiggle, director of Communications Coalition Against Insurance Fraud: "The impact of contractor fraud on seniors can be devastating. Often they've set aside money for the repairs. The contractor runs away with their money and doesn't do the job, so they have to dip into their savings to complete the job. This can wipe out their life savings, exposes them to shame and humiliation – feel very invaded." But, there are ways to avoid home repair rip offs. Sally Hurme, AARP Financial Security: "Never pay cash up front. If you do have to put a partial down payment, use a credit card. Never use cash. And never pay the final payment, until you are satisfied that the work has been done the way you wanted it to be done." And be sure to use a licensed contractor, so that if you get a judgement against a contractor you can be reimbursed from your state licensing board.