The Office of Community Oriented Policing Services reports that the elderly population easily become victims of a number of schemes. Common financial crimes against the elderly usually involve home repairs, investments, telemarketing, false charitable contributions, sweepstakes, and lottery schemes. Seniors should be very wary about divulging financial information over the phone or online. If the deal sounds too good to be true, it probably is. You may file a complaint with the Federal Trade Commission (FTC) at www.ftc.gov if you feel you or someone you know has been a victim of a scam.
Take advantage of the recent stimulus. Older Americans may see some benefits as part of the American Recovery and Reinvestment Act of 2009. This legislation will offer a $250 economic recovery payment for individual older persons and $500 for couples. According to the web site for the Social Security Administration, recipients will not have to do anything. Funds will be delivered in the same method that they receive Social Security benefits. Retirees who do not receive Social Security may also qualify, but may have to file a tax return. Payments are expected to be disbursed in late May.
The unemployed may also receive an extension and an increase in benefits as part of the American Recovery and Reinvestment Act. According to AARP, the number of unemployed aged 55 and older has risen 65% during the past twelve months.
At Credit Answers we strive to inform our customers to help build a long lasting relationship for our client base. We realize the road to living debt free is a tough one. We are there for you every step of the way.
Monday, April 6, 2009
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