MilConsumer Blog Feed

Know someone who’s behind on their bills? Maybe debt collectors are calling for payment? Our new debt collection video can help you understand your legal rights – and may lower your stress level. In the video, you’ll see how bad debt collectors try to get you to pay up. Bad debt collectors will say anything to get you to pay – and they’ll make it feel urgent to get you to pay immediately. But there are laws to protect you. Debt collectors: Can't...

If you are planning a trip outside the US, you have probably been collecting tips on everything from great restaurants to comfortable walking shoes. Here is our contribution: when you search for information online, you may find official-looking websites that offer travel documents, information and services. But some official-looking sites are copycats — imposters — that can put your money and personal information at risk. The FTC’s i nternational...

Are you thinking about investing in precious metals? The Commodity Futures Trading Commission ( @CFTCSmartCheck) has created True Fraud Stories, a video series that tells cautionary tales for investors. In this video, a military veteran with an advanced degree in business describes his negative experience with a fraudulent silver commodity investment firm. The CFTC encourages all investors to check the registration status of their broker on...

When you read an article on an investment research website, be aware that it may not be objective and independent. The SEC recently charged 27 parties – including public companies, firms, and writers – with fraud for generating articles that promoted certain stocks. Even if articles on an investment research website appear to be an unbiased source of information or provide commentary on multiple stocks, they may be part of an undisclosed paid...

Ever bought a dietary supplement or other health-related product that didn’t work as promised? Maybe you had side effects, or the claims just seemed unbelievable. Know this: the government holds companies accountable for making baseless claims about products marketed as dietary supplements. The Federal Trade Commission (FTC) and the Food and Drug Administration (FDA) have enforcement programs to protect consumers from false and misleading claims...

When you want to know what’s going on with a group, you go directly to the source, right? That’s exactly what the FTC did last week when it held a Military Consumer Financial Workshop in San Antonio, Texas. The day’s purpose was to take a look at the financial issues and scams that can affect military consumers – active duty servicemembers, veterans, and their families. The day was spent talking with military consumer advocates, the Department of...

@MilConsumer will host a Twitter chat about credit issues with the National Credit Union Administration, Military Saves, and the National Military Family Association. Join the conversation on July 26 at 2:00 pm ET at #NCUAChat and #MilConsumer. To give you a head start, here are the questions we’ll cover: What’s the difference between a bank and a credit union? What are the differences between a credit card, a debit card, and a prepaid card? What...

As a new recruit after basic training, there's a lot to learn about your branch of the military, job, and first duty station. Equally important is learning to manage your finances by creating healthy savings habits. Military Saves has your back with these five steps to take as you start your career in the military. 1. Understand your benefits and LES (Leave and Earning Statement) Ignorance is not bliss. From Tricare to your housing allowance...

Every year, the Partnership for Public Service awards Samuel J. Heyman Service to America Medals (the “Sammies” – or kind of the Oscars for feds) to highlight excellence in the federal workforce, and programs that make the country better, safer and stronger. This year, the FTC is proud to be a finalist in the Homeland Security and Law Enforcement Category, for our team’s work in creating IdentityTheft.gov. (Please vote for the People’s Choice.)...

Fake debt collectors will say anything that will scare you into paying them. Today, the FTC stopped imposters who pretended to be lawyers. They threatened people with lawsuits and jail time to collect debts that didn’t exist. These imposters often used the names of real small businesses or names that were very similar to those of existing businesses. When these real businesses started receiving calls from people trying to reach the “debt...