RIP-OFF ALERT: Of all the types of fraud, affinity fraud is one that's particularly effective because it hinges on dealing with people who are "like you" -- hence the name. Human nature dictates that we let our guard down when we're approached by someone of the same religion, race, profession, etc.

Consider this example: The Wall Street Journal reports that the son of a rabbi stole $100 million from fellow members of the Jewish community after promising to invest it (with huge returns) in "private placements."

Private placements are an exotic sort of investment where you discover under-the-radar businesses that are poised to boom and then invest in them.

But the rabbi's son was operating a classic Ponzi scheme. He used the money taken from later investors to pay earlier ones, and he pitched people in synagogues throughout Virginia, Illinois, New York, Israel and South Africa.

The Los Angeles Times reports a similar Ponzi scheme saw one criminal steal $22 million from people using the private placements shtick. Returns of 40% were promised. The culprit used the money to fund his lifestyle with his wife and his mistress. In fact, the man gave twice as much money to the mistress as he did to the wife!

This latter example is not strictly a case of affinity fraud like the first one. However, Clark has some advice for you if you're ever confronted with either situation:

• If you don't understand what they're pitching, don't do it.
• Just because someone is your pal at the golf course or a house of worship, it does not mean they're automatically more trustworthy than a stranger on the street.

All across America, people have filed complaints about the plague of automated calls coming to their homes. The recent surge in "robo-calls" is because they now cost a fraction of a cent to make thanks to the Internet.

The FTC has now issued new rules about robo-calls. Starting just before Christmas, you'll have an option at the end of a robo-call to press a button that indicates they can no longer call you. Then, beginning in September 2009, companies will actually have to ask for express permission before they even call you.

If you're on the Do Not Call list, you should already be exempt from robo-calls. Of course, that's not always the case. So will robo-callers really comply with the new FTC rules? Clark doesn't know.

Clark's solution to the problem is that he and his wife never answer their home phone. All calls are screened by an answering machine. He recently cleaned out the answering machine and found only 1 out of 42 calls was legit. And they're on the Do Not Call list!

Several categories of businesses will be exempt from the new FTC rules, including banks and airlines. With banks, they are allowed to robo-call you up to 18 months after the end of your business relationship with them.

There is some controversy over whether calling to inquire about a bank's services constitute the start of a business relationship -- even if you never do any further business. This remains a gray area in the law.

Here's an important alert if you or someone you know is in college. The student loan market is in a world of hurt right now because of wider economic trends. Private loans are hit-or-miss when it comes to availability.

In essence, the lending spigot is dry. So that means students have to employ extra creativity to remain in school when money isn't necessarily available.

Clark believes that private universities will find they'll have to offer payment plans in order to keep enrollments up. Work-study is another route to ensure you can stay in school. Or you may have to work for an employer that pays for your education. That's what Clark did for his graduate degree.

If you can't find the funds for a private college, you may have to dial back to a community college or a state school during your freshman or sophomore years.

The silver lining to not being able to find private educational loans is that people won't burden themselves with massive debt. If you have to find another way to get that degree because you can't borrow, that could be a good thing…

Callers often ask Clark if they should settle out of court or wait for a trial judgment in the case of a dispute. Though he isn't a lawyer, Clark believes it's often better to try to make a deal out of court.

Now the Journal of Empirical Legal Studies confirms that belief. About two-thirds of time, you'll get less money going to court than you would by taking a settlement offer.

Going to court involves too many variables. If you're ruled against, you might even be required to pay your legal fees plus the other side's legal fees. So be careful not to let emotions get the best of you and drive you before a judge.

What if you're the defendant who's being sued? Should you take it all the way to court? Well, only 15% of the time does that make sense, according to JELS. Rarely does it make sense to go to war -- even as a defendant.

For his part, Clark believes states that require mandatory alternative dispute resolution before trial are on the right track.