RIP-OFF ALERT: Like a plague, the car-selling sites are becoming infested with false offers for cars. Criminals are lifting pictures, text and info (including the VIN number) from legit postings on Craigslist, Ebay Motors and AutoTrader.com and duplicating them online or in newspaper ads.

In this rip-off, the "owner" typically says he or she has already deployed overseas with the vehicle and needs to unload it at a rock-bottom price.

Remember, however, that this violates Craigslist's first rule about scams: "DEAL LOCALLY WITH FOLKS YOU CAN MEET IN PERSON - follow this one simple rule and you will avoid 99% of the scam attempts on craigslist."

In one instance, a listener sent us a picture from one of these bogus ads. The "owner" said they were in the United Kingdom with the vehicle. But the accompanying photo showed palm trees in the background!

Remember, you want to see the car in-person when you're buying online. Otherwise the risk is off the charts.

Special thanks to our listener Douglas who tipped us off to this story.

The name "Bernie Madoff" has become instantly recognizable even to those people who don't know anything about investing. That's because Madoff operated an infamous $50 billion Ponzi scheme, promising his victims "the Madoff 10" -- completely safe returns of 10 percent annually regardless of market conditions.

Madoff wouldn't divulge his proprietary investing techniques behind "the Madoff 10." Why? There weren't any! His was a classic Ponzi scheme, where early investors were paid with money from those who came in later.

You'd think after all the Madoff publicity, investors would be wary of Ponzi schemes. But The Orlando Sentinel reports there's been a 175% increase in the number of investment-fraud complaints in just the last few years, citing numbers from Florida's attorney general. The FBI, meanwhile, concurs with that assessment of the spike in Ponzi scheme activity.

Here's what you need to know: You should be suspicious anytime you're told about a method of investing that's completely "safe" and promises returns that are higher than what the marketplace offers. Usually with a Ponzi, the floor is 10% a month, not a year. That's why Madoff was able to fly under the radar for so long.

Consider this: If the average savings account is paying about 1.5%, something promising well above that could easily be a fraud.

Finally, don't buy what you don't understand. If you follow this simple rule, you'll avoid most of the scams. If you can't explain the investment to a fifth grader, don't buy it!

For the first time ever, more than half of all calls to our Consumer Action Center have been about a single family of topics: Loan modifications, foreclosures and shortsales. In short, what to do when you're underwater in your home and about to drown!

In the midst of the desperation and the unbelievable incompetence of the banks handling these requests, scores of criminals have come into the marketplace offering phony loan modification services.

The Orlando Sentinel reports the state of Florida is going after these phonies for violation of a new anti-fraud law called the the Foreclosure Rescue Fraud Prevention Act. But this scenario can take place in any state. Beware specifically of those freeway exit signs or ads on the web promising foreclosure relief. The truth is they're looking to take advantage of you.

So what should you do? Check our foreclosure guide for links to legitimate housing counseling and more advice about what to expect.

Remember these simple rules of thumb to protect yourself:


See our foreclosure guide for further information.

RIP-OFF ALERT: Have you heard of caller ID spoofing? About three or four years ago, some criminal rings started using technology that allowed them to trick your caller ID into thinking they were calling from a bank.

Now the newest wrinkle in caller ID spoofing involves corporate espionage and jealous significant others. A number of "services" will sell you the ability to temporarily spoof a cell phone network into thinking you are the legitimate user. That allows you to dial into voicemail and hear someone else's messages.

Fortunately, there's a very easy fix to this problem. Clark's cellular provider makes him punch in a four-digit secret code when he accesses voicemails. This used to annoy him to no end, but now that he understands its value he appreciates it.

Thankfully, you can request your cell carrier to implement this extra security measure if they're not already doing so.

RIP-OFF ALERT: We've gotten several calls from listeners complaining about being ripped off while checking out at many otherwise legitimate Internet selling sites.

Typically, our callers report seeing a message during checkout asking if they'd like to save X amount of dollars on their purchase. Clicking through on the message and agreeing secretly enrolls you in a subscription service that is billed to your credit card or debit account on a monthly basis. And there's no real notification -- other than some mice-type that's too small to read.

The Wall Street Journal reports New York Attorney General Andrew M. Cuomo suspects 22 companies of being involved with this rip-off. Among the companies he's subpoenaed are Staples, Barnes &Noble, Avon, GameStop, 1-800-Flowers and Orbitz, just to name a few.

No need, however, to wait and hear their side of the story. You know all you need: That supposed instant discount will cost you big-time. Cuomo alleges that three of these discount programs pulled in more than $1 billion annually.

The real question is how will trusted brands that take advantage of this suspect sales ploy gain their reputations back with customers??

RIP-OFF ALERT: Like clockwork, the scammers are coming out of the woodwork to prey on early tax filers.

The IRS has released a warning about a very legitimate looking e-mail in circulation that purports to be an official IRS communication. The e-mail says you are owed a refund that will be credited to your Visa or MasterCard.

You are then asked to submit your credit card number, the expiration date, the secret code from the back of your card and your Social Security number in order to get the refund. But instead of receiving a refund, money is charged to your credit card by crooks pretending to be you.

Worse still, the criminals now have enough info to take your identity and open new accounts as if they were you.

Remember, the IRS does not communicate with taxpayers by e-mail.

Finally, there is a second IRS warning about another e-mail that claims you are under investigation. In this one, you are again asked to fill out forms requesting sensitive financial info -- a prelude to having your identity stolen.

Be careful out there.

Are you considering selling your life insurance policy to score some quick cash? The world of death futures contracts (aka viaticals or life settlements) is fraught with dangers.

Let's say you have a $100,000 policy. Your insurer may quote the cash value of your policy as only $5,000 if you were to turn it in. But someone in the free market may offer you $15,000 or $20,000 if you sign over your rights to them.

The company or person you sell to pays your premiums and hopes you die in a hurry! But your heirs won't get any payment upon your death. It will all go to the new policyholder.

For investors, death futures are pitched as a way to earn a great return on your money. But one word of caution. There are untold numbers of scams in this field, and there's no way to be certain you're dealing with legit players.

In summary, here are some key pointers to remember:

• If you have a policy, start by finding out the cash value of your policy from your insurance company.

• If you want to sell it in the free market, be sure to get quotes from multiple companies who buy life insurance policies. The quotes will likely be all over the board.

• There may be tax consequences in taking a payout.

• Beware of the Larry King phenomenon, where the media personality sold his policy and is now worried he'll be knocked off for the proceeds. Don't sell your policy if you're subject to paranoia.

Many of you have been generous enough to give until it hurts in response to the tragedy in earthquake-stricken Haiti. But how can you be sure your dollars are being spent in the way you think they're being spent?

Too often, we hear about lowlifes operating bogus charities designed not to help ailing Haitians, but to take your hard-earned money out of your pocket. The FBI has put out a special alert about this very danger. Be cautious of phony organizations using imaging that may be similar to legitimate charities.

Then there's the question of donating to organizations that keep low administrative and overhead expenses so the lion's share of your money goes to true relief efforts. The American Institute of Philanthropy has listed the top-rated charities involved in Haitian earthquake relief efforts. Visit CharityWatch.org for the complete rundown.

Meanwhile, the role that text-messaging has played in allowing people to donate during this tragedy has been incredible. Executive producer Christa was one keystroke away from texting a donation when she realized that Clark pays the bill for her work cell phone! So she made a donation at her local grocery store instead.

Finally, cell carriers have had a light shined on their practice of holding donations for months and earning interest on the money before sending it to the intended relief organizations. Some cell industry insiders blew the whistle on this practice to the media, and now the carriers have vowed to expedite all donations they receive.

RIP-OFF ALERT: While the legitimate Publishers Clearing House sweepstakes heads toward a Feb. 25 crescendo, scamsters are duping people into believing they've already won the bounty.

Financial writer David Lazarus reports that crooks are calling people and posing as a representative from Bank of America responsible for disbursing $2.5 million in winnings. The crooks typically say they're based out of BOA's New York facility. They'll send you a bogus check that looks very official but isn't legitimate.

In one variation, some crooks are pretending to be from Wachovia/Wells-Fargo instead of BOA.

Remember, the real Publishers Clearing House sweepstakes is for $10 million -- not $2.5 million -- and can be entered at PCH.com.

If you own your own business, you are at risk of being bankrupted by sophisticated criminal operations that have become experts at exploiting the antiquated technology used by the banking industry.

The nation's banks are still doing wires and Automated Clearing House (ACH) transfers to move money around. Both of these procedures pre-date computers in the financial industry. The criminals know how to have money wired out and you're generally liable for any losses under current rules -- even though it's the banks that are 40 years behind the times with their technology!

Local governments, school systems and small businesses are among the hottest targets for criminals doing this. Large commercial enterprises have not been hit so far.

Now, the FBI, the FDIC and the Federal Reserve have all issued warnings about this danger and suggest an easy way to protect your business: Use a dedicated computer that's only for financial transactions, including payroll and bill pay. No surfing the web on your dedicated computer. No e-mailing. No visiting Facebook, MySpace or Twitter.

Computers have become so affordable that it's very possible to get a fully functional one for under $300. Compare that cost with the cost of possibly having your account emptied out!

As a side benefit, taking this step recommended by the FBI, FDIC and Federal Reserve will likely save your business even if your business account does get hacked. That's because you can demonstrate that you've taken due care under the Uniform Commercial Code to secure your account.

One final suggestion. Contact your bank and request double or dual authentication on any wires. That means a wire won't automatically take place when someone requests it. The bank must take the additional step of getting a second go ahead from someone at your business before completing it.

You want to freak Clark out? Call up on the show and tell him you do whatever he says with no questions asked.

You should always do your own investigating -- no matter how reputable you think the consumer champ's advice may be.

Too often listeners will do anything a media personality says without doing their own research first. That appears to be what happened to listeners of a Persian-language program called Economy Today broadcasting on Los Angeles' KIRN 670 AM.

Host John Farahi is accused of bilking listeners out of $20 million by promising them he would invest their money in federally insured CDs, government bonds or corporate bonds through the Troubled Asset Relief Program.

But Farahi allegedly diverted the money to build a mansion in Beverly Hills and invest in risky options futures. The Los Angeles Times reports his show has now been canceled.

The message here is don't let your guard down just because someone wields a position of power behind a microphone. While Clark has spent 23 years on radio building trust with listeners, you've still got to independently vet any information you get from him. Be skeptical. He wouldn't want it any other way!

New data out from the Associated Press finds a tripling of Ponzi schemes in 2009. No surprise there, judging from the headlines during the past year. Sadly, many people lost their entire life savings in such schemes. The cumulative total loss is estimated at $17 billion.

All Ponzi schemes operate in essentially the same way. There will be a promise of a fantastic above-market return on your money. Initial investors are then paid with money taken in from newer investors. This approach, however, isn't mathematically sustainable. It will collapse when you run out of new investors.

There's also consistency in how Ponzi schemes spread. They often make their way among similar groups of people, an idea that's known as affinity fraud. So you might learn about a supposedly great investment from someone at your country club, your house of worship or your professional organization.

Doctors have historically been an easy mark for these cons. Once one doctor was conned, they would brag to their friends about all the money they've been earning. Then they'd bring their friends into the loop.

Too often someone's professional reputation trumps our better instincts to ask the right questions. "Oh, he or she is such a great surgeon...they couldn't be wrong about this opportunity, right?" Wrong. Dead wrong.

In one new case, The Boston Globe reports a Massachusetts man has been charged with allegedly running a $29 million Ponzi scheme. At the center of this one were promissory notes that were sold with the promise of 13 percent returns. The suspect found most of his marks among elderly Jewish customers at country clubs.

Promissory notes are something that can be legit, but even the legit ones are highly risky. Organizations issue promissory notes -- essentially an IOU -- when they can't borrow money easily elsewhere. Remember, even if you see the words "insured" or "insured product" accompanying a promissory note, it's not covered by the FDIC.

The bigger lesson here is be careful when anyone is promising you outsize returns. It's either a scam or has huge risk.

Each year, the Better Business Bureau compiles a list of the most popular scams. The BBB received an unprecedented nine million complaints during 2009! Below is a quick rundown of the Top 10 scams of the past year.

• Work-at-home schemes: This is routinely one of the most popular searches on our site. Google work-at-home offers are particularly suspect, as are those roadside signs promising "CEO Income from Home." See our list of legit work-at-home opportunities.

• Credit repair scams: Don't believe the promises about wiping out your debt in return for a huge upfront payment.

• Government job scams and government grant scams: Remember, USAJobs.gov and Grants.gov are the only legit sites.

• Mortgage foreclosure rescue scams: Again, never give any money upfront.

• Check collection scams

• Advance-fee loan scams: These target small businesses with promises of a loan in return for paying an origination fee.

• Mystery shopping offers: Remember, Volition.com is one of the legit sites Clark recommends.

• Advertising directory scams

• Free trial offers

• Phishing scams

A Florida lawyer is facing charges of operating a Ponzi scheme involving bogus legal settlements that took $1 billion from investors, according to The Wall Street Journal.

Scott Rothstein promised investors double-digit returns in what were essentially structured payments similar to the kind you see advertised on bad late-night TV. Claimants would accept pennies on the dollar upfront and investors would get a bigger amount of money when a full claim was paid.

But all the supposed legal settlements were fictitious. Yet people fell for the lure of easy money. In classic Ponzi scheme style, Rothstein allegedly used money from new investors to pay off older investors. As with any Ponzi scheme, you eventually run out of investors and the whole thing collapses when people ask for their money.

Rothstein was the head of a big law firm of more than 70 lawyers. So far he's the only one named as being involved in this scheme.

Now, it's easy to look at Rothstein's $1 billion scheme and be underwhelmed because it's not the $50 billion that Bernie Madoff stole. But $1 billion is still a lot of money.

So here's the takeaway for you: When someone promises you a "can't lose" opportunity with huge returns, know that you are one step away from sinking in quicksand. Even Rothstein's early investors who did make handsome returns will be compelled by the courts to give it all back.

Remember, "safe" investments don't have high yields. If you want to earn a lot of money, you're always looking at moderate to high risk investments.

Vonage has reached a settlement in more than 30 states for allegedly billing customers after they fired the Internet phone company, according to The Chicago Tribune.

Vonage was a game-changer and established in people's mind that there was a better way to make landline calls than through a monopoly phone company. But they were eclipsed in the marketplace by a number of competitors like Ooma and MagicJack.

If you are a Vonage customer, you want to know whether you signed a one-year or two-year contract. If there's a dispute, ask to hear the tape of your agreeing to the terms in question.

And know that, as mentioned, there are alternatives out there. Ooma offers phone service for life -- the life of Ooma, that is -- for as little as $179. That includes 5,000 minutes/month.

For travelers, MagicJack might be a good alternative for anywhere from $20-$40 per year. Our listeners, however, have had mixed results with MagicJack.

Are you a former Vonage customer who continued being billed? Contact your state's attorney general to see if they've settled with the company.

Addicted to those cute little games like FarmVille and Mafia Wars on Facebook? You might incur unexpected charges on your credit card if you're not careful, according to a new class-action lawsuit.

Facebook and social gaming company Zynga are being sued for $5 million over something that's known as post-transaction marketing.

Let's say you're at Facebook connecting with your friends. While there, you accept an offer for a risk-free trial as part of an ad that might be embedded in a game. You're typically asked for a credit card or checking account number to participate in the supposedly free trial -- and then your account is dinged.

Facebook has so far denied any responsibility for this post-transaction marketing. Zynga, meanwhile, allegedly made up to $80 million from these offers.

But this is not just Facebook doing this kind of stuff. The Los Angeles Times reports RealtyTrac has been accused of working with a post-transaction marketer that charged people for $45/month for a supposed subscription.

The takeaway here for you is be sure to check your credit card statements and bank accounts each month for unknown charges.

David Pogue of The New York Times has unearthed a disturbing phantom fee on some Verizon Wireless bills.

It turns out certain simple keystrokes on Verizon phones will launch web applications that automatically ding your account for $1.99 a pop.

It is possible to have these keystroke features blocked, but a Verizon insider tells Pogue the company is doing what it can to prevent that.

"They have started training us reps that too many data blocks are being put on accounts now," the source wrote to Pogue. "They're actually making us take classes called Alternatives to Data Blocks."

These phony charges reportedly generate $300 million/month in alleged stolen revenue! Clark plans to call Verizon to question them about this and give a spokesperson a chance to come on the air and tell their side of the story.

Clark wants to reiterate his warning about the dangers of criminals targeting the accounts of small and medium-sized businesses.

These types of businesses aren't large enough to have an IT department, but their high level of cash flow makes them appealing to cyber-thieves -- many of them based in Eastern Europe.

Small businesses need to take special care because of how they're treated under the Uniform Commercial Code.

The UCC dictates that small businesses may be held partly or totally responsible if their lines of credit or accounts are compromised.

Isn't it odd that the very businesses that are the backbone of our economy are left unprotected?

The consumer champ has two key takeaways to help small business owners and entrepreneurs protect their accounts:

• Go to your bank and have them put a block on wire transfers from your business account(s). Citibank has already set up a procedure where its customers can block wires to foreign banks, according to Forbes. But Bank of America will not permit a business to block this. So you may want to consider moving your business accounts away from Bank of America.

• Have a dedicated computer that you use solely for the purpose of accessing your financial accounts. No surfing the web on your dedicated computer. No e-mailing. No visiting Facebook, MySpace or Twitter. This is the cheapest insurance Clark can suggest.

Forbes also has some additional recommendations to help avoid online scams that can lead to your account being compromised:

• Look for the logo of your bank being in odd place on the webpage. This is a tell-tale sign.

• Do not open links from an e-mail.

• Use a Mac for accessing your business accounts.

AT&T, Sprint and Verizon are among the companies offering subsidized netbooks this holiday season for as low as $49. Sounds like a great deal, right? No way, says Clark!

The subsidized netbooks come with a contract for an overpriced two-year data plan. You'll pay massive overage fees if you exceed the data cap. So while you might save yourself $80 on the upfront costs of a netbook, you could wind up paying as much as $1,500 over two years.

This marketing push is very similar to what you'd see in the 1990s when AOL, Compuserve and others offered a free computer in return for signing a three-year contract for dial-up service.

Remember, you'll be better served by competitively shopping for a netbook this holiday season and going with an unlimited Internet service plan.

An oldie but baddie scam has become active again in the home-selling market.

During an open house, criminals may work in tandem with one distracting your realtor while the other rifles around the house looking for jewelry. The criminals may arrive separately within minutes of each other or they may come as a couple.

The Washington Post reports that in one instance at least $43,000 worth of jewelry was stolen during five open houses in Fairfax County, Virginia.

Clark's rule is avoid the problem in the first place. When you list your home, be sure you also rent a safety deposit box off the premises where you can stash away jewelry or other valuables. Any important financial papers can be stored in a locking cabinet at your home.

Of course, most people who go to an open house will be honest potential buyers. But you still have to protect yourself from the small number of people who aren't. Prevention is not only the best cure here, it's the only one.

RIP-OFF ALERT: The FBI has issued a warning about e-mails purporting to be from the Department of Homeland Security and the FBI Counterterrorism Division.

The e-mails typically have subject lines like "New DHS Report," "New Patterns in Al Qaeda Financing" and "FBI Weapons of Mass Destruction Directorate." In addition, these bogus correspondences usually come with an executable file as an attachment that will prompt your computer to download malware.

As a general rule, you should never willingly open attachments from unknown senders. And be sure your computer is not set to automatically open attachments in e-mails.

Meanwhile, small business is the No. 1 target for people trying to attack computers. That's because small businesses typically have large cash flows and very little IT security.

Thankfully, there is an easy solution for small business owners. Simply buy a dedicated computer that's used only for financial transactions like payroll and online banking. No surfing the web on your dedicated computer. No e-mailing. No visiting Facebook, MySpace or Twitter.

This will reduce, but not eliminate, the risk of a security breach. High net worth individuals may also want to consider using a dedicated computer for all financial transactions.

Fortunately, computers have become so affordable that it's very possible to get a fully functional one for under $300. Owning more than one computer is no longer cost-prohibitive. Think of it like an ultra inexpensive insurance policy for small business owners and wealthy individuals.

The insurance industry is revamping variable annuities into an even worse deal to protect itself from any future market turbulence.

When you buy a variable annuity, you buy an insurance product where you invest in something like mutual funds. If your holdings go down and you die, your heirs receive a payout equal to what you put in. As variable annuities have gotten more complex over the years, it's sometimes possible to redeem the money before dying.

Some people were able to work the system beautifully with last year's market collapse. In fact, certain insurers were forced to seek bailout funds to stay alive when they had to make good on their promise of making investors whole again.

Now the insurance industry is dialing back the benefits and raising the costs on variable annuities to prevent a repeat of what drove them to insolvency, according to The Wall Street Journal.

Instead of opting for a variable annuity, Clark prefers that people look at plain vanilla index funds.

The annual management fees associated with a variable annuity can be as much as 30 times what you'd pay for an index fund. Moreover, most index funds can be sold relatively quickly with no penalty. Not so with your average variable annuity. Some even have a 10 percent surrender charge for exiting out of your contract before 10 years.

So why do people buy variable annuities at all? Because they are sold as a magician's illusion by a salesperson who tells you that you can't lose -- and nets a monstrous commission in the process. That's why you often hear Clark say that variable annuities are "sold, not bought."

There's not a day that goes by without another a story about a Ponzi scheme or investment scam.

The latest one to catch Clark's attention involves the theft of $80 million from those conned into believing they were investing in ultra high profit ATMs. The alleged con-men said they had high-traffic locations that would be profitable and promised a large return on investment on each machine.

When investors asked where the ATMs were located, they were typically told about locations that were across the country. The scheme went on for three years because early investors were paid with money from later investors. Of course, no Ponzi scheme can last forever; it eventually collapsed on itself.

Remember, be wary whenever you're promised an opportunity with great return on investment without risk. There is no such thing. Low risk always has low return. High risk has the potential for high return or the equally likely possibility that you'll lose all your money.

If you want safe, stick with CDs and earn two percent or less!

RIP-OFF ALERT: Clark has a trio of Ponzi scheme stories to share with you today.

First, The Wall Street Journal reports $250 million was swiped in an investment scheme to sell telecommunications services to Las Vegas casinos. The promoters convinced those who didn't have money to refinance their homes and cash out in order to buy into this "can't lose" opportunity. People were wiped out, many of them senior citizens.

In this particular scam, the promoters would buy lists of people who were 50 and older from data-mining companies and then invite them to investment seminars. People would turn over their life savings and lose it all.

"Rather than having a comfortable retirement like we thought we'd have," one senior told The Wall Street Journal, "we're living pension check to pension check."

The second Ponzi scheme involved a fellow who stole $52 million from people by promising returns of 35 percent every 90 days in other investments, according to The Los Angeles Times.

Now, stop for a moment and consider this: Savings is earning around two percent. Stocks typically return nine or 10 percent in good cycles. So how in the world could anything return 35 percent every 90 days?!

The Los Angeles Times also had a separate story about another scam that netted $35 million from people. In this one, unsuspecting investors were told they would earn monthly returns of 14 percent paid out ever quarter by getting into government-guaranteed loans.

Here's what you should know: "Can't lose" opportunities promising more than nine or 10 percent are either unbelievably risky or completely a scam. If you want "safe," stick with bank CDs and money market funds.

And finally, don't buy what you don't understand!

RIP-OFF ALERT: A sophisticated identity theft ring responsible for $1.5 million in thefts has been cracked by federal prosecutors, according to The Los Angeles Times.

Some 53 alleged criminals posed as bank representatives via e-mail or over the phone to get otherwise savvy victims to divulge personal account information. The info was then used to empty out bank and brokerage accounts. A part of the $1.5 million stolen was routed overseas to Egypt, where another 47 un-indicted co-conspirators remain at large.

This is one of the unintended consequences of dealing with such large organizations today. We don't know who we're doing business with. So unless you're being contacted by an employee who you have longstanding personal experience with, don't divulge any sensitive information. Clark instead recommends calling your bank or brokerage house and asking them if they really requested any updated info on the account.

Keep in mind that banks are duty bound to restore your funds in the event of a breach. However, there is no similar law requiring the restoration of money for a brokerage or mutual fund account.

So if you have a meaningful amount of money in a brokerage house, check your account several times a week. Executive producer Christa and her husband avoided financial Armageddon this way when a hacker targeted their account.

Gasoline prices have been very odd as of late. A recent report in The Houston Chronicle suggests there are as many price analysts in the oil industry who expect the price of a barrel of oil to go down to $50 as they expect it to hit $90.

Basically, nobody knows where prices are going!

Clark had expected retail prices at the pump to start in the $1.90 range in select markets by the end of the year. So far he's looking foolish with his prediction. Yet GasPriceWatch.com reports the lowest price today is $2.09 in Spartanburg, S.C. (Editor's note: Pricing accurate as of Sept. 18, 2009.) So maybe he's not so crazy yet.

The cost of a barrel of oil directly translates to around 70 percent of what you pay at the pump.

Meanwhile, in completely unrelated news, Clark wants to put out the warning about a fake letter and fraudulent check scam using the American Bankers Association's name.

Con artists are using the organization's legitimate name in a nationwide scam trying to convince people that they've won a cash prize from the ABA. The letter comes with an official looking check, usually in the amount of $1,000-$5,000.

But you're also asked to call for further instructions about claiming the rest of your alleged winnings.

Know that this is not a real thing. If you deposit the check, it will bounce. Don't wire any money either!

You can even e-mail the ABA at alert@aba.com to report any suspected instances of this scam.

RIP-OFF ALERT: The Federal Trade Commission has filed nearly 400 actions against scammers promising people easy access to their supposed share of the $787 billion stimulus law.

More than 270,000 businesses and individuals are believed to have already fallen prey to offers of "free government grant money" that can allegedly be used for bills, travel, education, health care and more.

Among the organizations targeted were Grant Connect, LLC; Grant Writers Institute and its telemarketers; and a robocall and website operation working under the name "Cash Grant Institute." Of course, the FTC's reproaches are really just a slap on the wrist. It's not as if they'll result in any jail time for the perpetrators.

Come on, people. Do you really think Uncle Sam has money burning a hole in his pocket for you?! Don't fall for it.

Have you seen former child actor Gary Coleman doing late night TV ads for a company called CashCall?

Coleman's endorsement legitimized the company in the eyes of some consumers -- even though CashCall's loans were issued at 139 percent interest for a term of three years.

Who gets up in the morning and says, "I want a three-year loan for 139 percent interest?!"

Actually, it turned out the Diff'rent Strokes star was himself indebted to the company and filmed the ads in exchange for loan forgiveness!

The attorney general of the state of California has now fined CashCall $1 million for misleading ads and using loan shark tactics to collect debt.

CashCall had been advertising loans at 36 percent interest with mice type on the TV screen stating that the rate only applied to active duty military personnel.

In addition, the company would talk about personal financial info to borrowers' neighbors, bosses and co-workers in an effort to shame people into paying.

Finally, there were threats of wage garnishment without going through the standard legal routes to obtain garnishment.

The moral of the story here is that you've got to use your own good judgment before you get into trouble. Nobody will just hand you money at a good rate with no questions asked.

Half of all children aged 12 and up now have a cell phone, according to global connectivity research outfit Yankee Group.

That means parents have to be especially wary of what are being termed "off deck" deals. That's where the cell phone provider partners with marketers who offer supposedly free ringtones, jokes of the day and other services.

A recent article in The New York Times reported one consumer had a child who responded for a free joke of the day that cost $20!

The cell providers split the money in half with the marketers. Cell providers particularly love those $9.99 add-a-phone offers for kids because the parent accepts responsibility for any charges that are incurred.

It's incumbent on you to teach your kids that they are not to respond to any "free" offers that are being pitched on the cell phone.

If you get hit with "off deck" charges, call up your cell phone company and tell them to remove the charge. Explain that you know they're in cahoots with the marketer.

Our own executive producer Christa got taken in one of these rip-offs. But it was Clark who gets the monthly bill for her cell phone! It took the consumer champ 3 months of bills and calls during each of those months before he finally got the cell phone company to behave.

In addition, be sure to read through your cell bill page by page. Don't get taken advantage of because of how confusing the bills can be.

Meanwhile, The New York Times also reports that some cell providers offer a $60/year service where they agree not to rip you off with all these "off deck" charges. Why should you have to pay a fee to prevent a company from ripping you off as a customer?! That's outrageous.

RIP-OFF ALERT: The Sun Sentinel reports that con artists are calling people on the phone posing as credit card fraud investigators in an effort to steal sensitive account information.

The crooks often pretend as if they're calling to investigate a supposedly questionable charge that you may want to dispute. But as part of their inquiry, they'll ask you to verify that you are still in possession of your card. They'll instruct you to turn it over and read the three-digit security code on the back to them.

Don't do it! That's the key piece of info a crook needs to have an online shopping spree at your expense if they already have your credit card number.

Have you gotten a call like this and already divulged that security code? Call the telephone number on the back of your card immediately and explain the situation to them. Remember, your credit card company will never ask you for those three digits on the back of your card.

Sometimes you may get an automated call from your credit card company where they want to verify a charge on your account. Clark had this happen recently after he used his card to make a charitable donation.

They had left one number on his answering machine, but he wasn't familiar with that number. So he simply called the number on the back of his card to reach the fraud department. That's a surefire way to stay safe.

The FTC is cracking down on three prominent "get rich quick" schemes that robbed consumers of $300 million.

John Beck/Mentoring of America is the marketer behind "John Beck's Free & Clear Real Estate System," "John Alexander's Real Estate Riches in 14 Days" and "Jeff Paul's Shortcuts to Internet Millions." People who bought into any of these programs were unknowingly signed up for additional monthly charges of $40!

"To con artists, today's challenging economy presents just another opportunity to play on consumers' worry and bilk them out of money," David Vladeck, Director of the FTC's Bureau of Consumer Protection, said in a statement.

On our show, we've seen a steady rise of calls and e-mails about these "dare to be rich" programs that are often marketed through seminars and hotel-ballroom presentations.

As Clark said back in the 1990s, be very wary when someone tells you about a magic strategy to get rich in real estate.

The consumer champ knows a man who had a great career that many would consider a dream job. But he was a bit bored with it. This man responded to an infomercial, went to a hotel ballroom and got so fired up that he quit his job in mid-career and borrowed 100% of the cost to buy rental properties in three states. Not a smart move.

The whole philosophy with these kinds of schemes is to get rich using OPM (other people's money). It dovetailed perfectly with the loose lending standards of the '90s.

And it's very similar to what happened before the stock market collapse of 1929. Back then, you could borrow up to 90% of the cost of a share. More recently, the failed Lehman Brothers and other institutions were allowed to do 30:1 bets. They only had three cents in the game out of every speculative dollar. The results were disastrous in both instances.

Remember, you make money the old-fashioned way -- one step at a time. There's no overnight (or 14 day) way to do it.

RIP-OFF ALERT: The Securities and Exchange Commission has taken action against Prime Capital Services for allegedly operating free-lunch seminars designed to sell variable annuities to senior citizens.

In general, free-lunch seminars are extremely popular in Arizona, Florida and Nevada. Seniors in their late 70s to late 80s are usually targeted. During the event, a charming salesperson will typically come up to them and offer to schedule a free private consultation where the real sales pitch comes.

"[PCS] used free lunches as the low-tech bait for their high-scale scheme," according to a statement from the SEC. "These con men lured elderly and retired investors into purchasing highly unsuitable variable annuities, enriching themselves with commissions while ignoring the financial goals of their victims."

In other words, they get rich and your parents (or you) get poor.

Money put into a variable annuity is generally not accessible without penalty until 10 years after the origination date. That makes no sense for a senior who needs to be able to spend their money. If you ever get a free-lunch pitch, you should run the other way.

Remember, the most expensive meal you can ever have is a free one. It will result in the biggest case of indigestion you could ever have.

The Cash for Clunkers program has already spawned its fair share of potential rip-offs online.

Unofficial websites are masquerading as the official Cash for Clunkers portal, according to an Associated Press report. These bogus sites will solicit personal information such as your Social Security number for supposed pre-registration…and then turn around and use it to steal your identity or money.

For those of you who may be unfamiliar, Cash for Clunkers is a new federal program offering rebates of up to $4,500 for trade-ins when you purchase a newer fuel-efficient vehicle.

RIP-OFF ALERT: There's a new version of an old scam from the '90s that Clark wants you to know about. In it, consumer writer Greg Dawson of The Orlando Sentinel reports that people are contacted by phone and told they've won the Jamaican lottery.

The catch? You have to pay upfront to patriate your winnings to the United States. But there is no Jamaican lottery.

Years ago, there were mailings about similar lotteries supposedly originating in Canada, Germany, Australia and elsewhere. And people lost untold millions trying to get their "winnings."

"It's just an incredible amount of money that's coming down here," a rep from the U.S. Embassy in Kingston, Jamaica says. "We've got cases from Honolulu to Maine."

One New Jersey resident lost nearly $250,000 in this Jamaican lottery scam. This woman was a retiree and that was every penny she had. After being scammed, her disillusionment reportedly drove her to take her own life.

This scam has become so competitive in Jamaica that gangs are fighting and killing each other to get what are called "sucker" or "reload" lists of people to target in the United States.

Here's a simple rule: If somebody says you've won something, why are you paying money for it? Don't do it!

The key here is to be your own skeptic, be your own police officer. Don't let somebody sell into your desire for easy money. You'll just lose your dough and there's very little recourse after that.

Several months ago, Clark told you about R. Allen Stanford, a Texas businessman who allegedly stole $7 billion through the sale of off-shore CDs. These CDs were supposed to be ultra-safe and have higher returns than you could get elsewhere.

The money that people handed over to Stanford supposedly went into island accounts, like those at his self-operated Bank of Antigua. But the allegations are that it really just went into his pocket as part of a Ponzi scheme, according to The Wall Street Journal.

So far the feds have pinned $1.6 billion on Stanford himself. $1.1 billion is "completely unaccounted for," while another $5 billion has been "lost," according to the Justice Department.

And, remember, we're talking about a guy who had a fleet of jets. Not a single jet, a fleet!

Here's all you need to know: If you ever get a pitch about super-safe off-shore CDs, the odds are it's not gonna end well -- even if it is a legit opportunity.

The interest rate you're promised may get eaten up with currency fluctuations; the bank may go insolvent, in which case there's no FDIC to help out; or the promises could constitute an outright scam!

So be careful out there whenever you're promised higher rates than the market generally bears.

Are you getting credit card solicitations in the mail that seem like they're a great deal?

Not so fast -- better read the mice type! The issuers are playing it dirty trying to grab customers before the new credit card rules go into effect.

According to LowCards.com, 1 in 4 of the solicitations landing in your mailbox have annual fees. And the average annual fee? $74!

The "super-primes" are being heavily targeted for these kinds of deals that seem great until you read the fine print. Super-primes are people with high credit scores, high annual incomes and a tendency to be big spenders. People just like Christa, as Clark jokes!

So often, you've got to look beneath the surface to make sure your best interests are being protected. In another example, stockbrokers are not bound by law to keep your best interest in mind (aka the "Merrill Lynch rule"). In other words, they are exempt from fiduciary responsibility to their clients.

That's why Clark often recommends seeking financial advice from a fee-only financial planner through NAPFA.org. But a trusted former member of NAPFA is now being investigated by the SEC for allegedly taking $1.24 million in kickbacks related to investments he was picking.

Meanwhile, let's not forget that Wells Fargo allegedly had a system in place to target black customers for subprime loans, according to a report in The New York Times.

People don't know who to trust anymore -- whether it pertains to credit cards, investments or mortgages!

Elizabeth Warren -- widely considered the nation's premier expert on personal bankruptcy -- has advocated for a financial product safety commission. But until there's a cop on the beat, you've got to be your own police officer. And that's what we're all about here on the show.

RIP-OFF ALERT: California is cracking down on bogus telemarketing firms that seek donations to help police, firefighters and veterans, but then pocket the money themselves.

This kind of rip-off is one of the oldest in the book. It can be found all across the country, especially as we lead into the Christmas season and people feel more generous.

The 17 telemarketing organizations being targeted by the Golden State have completely legit-sounding names, but Clark has decided not to name them on air.

One of the telemarketing operations in question collected $30 million from people across the country. The money was intended to buy bullet-proof vests for police and provide funds to surviving families of slain cops.

So how much actually went to that purpose? Zero dollars. It was essentially stolen under false pretense.

Another group supposedly collecting for disabled firefighters pocketed 98 cents out of every dollar. Only 2 cents on average went to the firefighters!

The "best" group out of the 17 (and we use that term loosely) managed to send a whole dime on a dollar to the intended recipients.

Here's the takeaway for you: Do not give money to any charity over the phone, no matter how persuasive the pitch is -- unless you have firsthand knowledge of the organization.

Instead, you should request that info on the caller's organization be sent to you. Most bogus outfits will hang up on you at that point. The legit ones will comply with your request.

Finally, you can also use Give.org to help vet charities.

RIP-OFF ALERT: Here's a case of the shoe now being on the other foot! Some unsavory consumers have come up with a new way to rip off businesses who sell their wares by phone, internet or mail order.

What being called "friendly" fraud by The Wall Street Journal has spiked by 50% in the last 6 months, according to some retailers.

Here's how it works: A consumer will order an item, receive it through the mail and then dispute the charge with their credit card company. They'll say they never received the merchandise, or it was misrepresented, or whatever other lie they can devise.

Businesses are fighting back any way they can. One retailer documents the entire packaging and shipping process with digital photos so they can dispute a charge-back if one arises.

Others have found that signature confirmation or other tracking methods are equally effective insurance policies.

The monetary toll of friendly fraud can be staggering. One photo equipment supplier averages $130,000/week in fraud orders. About a third of those are of the friendly fraud nature. The rest are people using phony credit cards to make off with expensive equipment.

There's actually nothing "friendly" about friendly fraud at all.

Guitar Hero recently rocked one consumer in a very unexpected way, according to The Dallas Morning News.

The paper's technology blogs reports that a woman named Jodi bought the extremely popular video game from Wal-Mart as a gift for her 16-year-old son. But when the young man opened the box, he discovered that it contained nothing but rocks and scraps of Chinese newspaper.

This kind of thing happens a lot in the electronics business -- either from internal theft or at the hands of devious customers. People will buy an item, bring it home, open it, put in an equivalent weight of rocks and shrink-wrap it back together. Then they'll return the box to the store as an "unopened" item.

Most retailers won't take responsibility in cases like these. Wal-Mart certainly didn't at first. It took a reporter calling the store to make them check their records. Turns out the particular unit in question had already been bought and returned once, so they were able to make Jodi whole with another unit.

But not everyone can have a newspaper reporter as their advocate. So be sure you have the merchandise you paid for before you actually leave the store!

RIP-OFF ALERT: The unemployed are the newest "fat target" for identity thieves, according to The Chicago Tribune. Scamsters are running fake help wanted ads, phony job search services and bogus resume-posting websites.

In the past, Clark has talked about the efforts that Monster.com made to warn people about employment scams. It's important to note the scamsters are not affiliated with Monster.com in any way.

So what kind of info are people divulging that they shouldn't be? Social Security numbers, their mother's maiden name and their addresses for the last 5 years!

That's basically everything an identity thief needs to build a new profile as if they were you or take over your existing accounts.

According to The Chicago Tribune article, there's been a 400% rise in this type of fraud since the recession began.

In some of the more sophisticated frauds, someone may even mock interview you to convince you that you're a strong candidate for a job…and then turn around and ask for your sensitive info.

RIP-OFF ALERT: Elderly women who live alone are cautioned to be wary of "woodchucks" -- fake home contractors who gain their confidence and then charge huge amounts of money for unnecessary work.

These con men usually have some level of handyman skills and will start the relationship by offering to do a benign job such as gutter cleaning. But after they finish that job, they'll find other imaginary problems -- such as a roof or chimney repair -- and convince seniors to fork over thousands of dollars.

Woodchucks also love to target people who have failing memories. In some of their most disgusting offenses, they'll even drive old women to banks and get them to cash bogus checks before disappearing with the funds.

Police expect the woodchuck phenomenon to worsen. After all, we're an aging population and we no longer live geographically close to our families as we did a few generations ago.

So Clark's challenge for you is to pick up the phone and call your aging relatives -- or go visit them -- to make sure they're not falling prey to woodchucks.

Be nosy if you're worried that their money may be in danger. With a parent, there'll be a natural inclination for them to not want to talk to you about money. But you've got to be pushy.

You don't want to find out that a beloved elder is impoverished at the end of their life because they were charmed, confused and basically robbed.

RIP-OFF ALERT: The latest Dare To Be Rich scheme now making the rounds involves currency trading. It's a pitch that really appeals to people who are afraid of the stock market and have grown tired of puny returns on CDs.

First, it's important to understand that there is a legitimate business opportunity here. The main purpose of currency trading is to allow businesses that operate in multiple countries to lower the risk of exchange movement and its effect on their profits.

But the only people making money on currency trading are the ones who push a variety of "how to" info tapes and seminars. They want you to believe that you -- as an individual in your spare time -- can take their course, watch their tape or complete their webinar to learn this tricky business.

The reality is that currency trading is extremely high-risk territory. It's not the "insta-business" it seems.

The New York Post recently did a story about the currency trading frenzy. According to the article, one trading desk did just under $7 trillion in trades for clients in 2008. Another company claims one top employee earned monthly returns of 1,951% on his money.

Those kinds of numbers really get your attention and make you think you can make real money. But don't believe the hype. Clark wants you to stay safe and preserve your capital.

RIP-OFF ALERT: More than 20 websites are marketing products they claim will either cure or prevent the swine flu, according to the FDA. One in particular markets a package containing shampoo, lotion, conditioner and soap for $200 that supposedly protects you by depositing traces of silver on your skin.

The reality is that there are legitimate medications available if you are diagnosed with swine flu.

Yet pandemics remain a scary thing. The Black Plague killed 1 in 3 people throughout Europe. The flu epidemic at the end of World War I sickened 1 in 3 people on Earth, and about 10% of them died.

There were no medications available at either time.

But today, we do have medications. Just look at how the avian flu was contained several years ago. The media coverage of swine flu has now generated fear that's disproportionate to the fact that science offers so much more protection today than it ever did in the past.

Meanwhile, on a totally unrelated scam topic, Barron's reports that our Secret Service is not doing anything to pursue criminals who operate Nigerian scams. These long-running scams involve all the phony checks and pleas to wire money around the world.

A recent Barron's article profiled one man who has targeted 13.5 million Americans with a work-at-home e-mail scam. He's made over $40 million since December 2008! And he's one of about 100 people around the world who run these kinds of scams, according to British authorities.

So even though this is an "oldie but baddie," you still need to beware!

RIP-OFF ALERT: We've all been so browbeaten into watching for viruses on our computers that it was only a matter of time before crooks wised up and started creating viruses that actually mimic common anti-virus warnings.

That's the idea behind what's called "scareware," which are bogus virus warnings that actually load a virus on your computer when you click on them! You don't even have to download anything. You're caught from the minute you click on the impostor pop-up window that supposedly alerts you to an existing virus!

Executive producer Christa recently had her computer compromised by a pop-up that masqueraded as a virus warning from Norton Antivirus. It even displayed a virus count as many popular antivirus programs will do.

So if you see a pop-up window that seems to be from your antivirus program, don't click on it. Instead, go directly to the antivirus or spyware program on your desktop and run it from there so it can find any security threats.

Clark particularly likes SpyBot Search and Destroy for protecting his computer. It's a free download that asks for contributions, but they're not required.

Finally, Christa also recommends having multiple browsers like Firefox, Chrome and others. The idea is that you can still try navigating around the web even if scareware hits your usual browser.

For additional spyware and scareware protection, see our list of other free downloads.

RIP-OFF ALERT: Beware of bogus credit unions promising to lend money and then making off with a processing fee after your application is approved.

One alleged phony operation was running ads in national newspapers around the country that promised it had money to lend. The Los Angeles Times was just one of the newspapers that ran the ads. This impostor credit union even listed a real address that was the address of a shopping mall.

The Pennsylvania Department of Banking and the state of Michigan have both revealed this particular operation to be a scam. (Editor's note: Clark has elected not to identify this fake operation because its name is very similar to that of a totally legitimate credit union.)

This was a classic advanced-fee loan scam. People applied for a loan and were told they had been approved…but still needed to pay hundreds of dollars to continue processing the application.

These kinds of scams come out of the woodwork in tougher economies. You can also spot them if the person or organization advertises itself as a "loan broker."

Just remember it is pure poison for your pocketbook.

It seems like everyday Clark brings you news of a new Ponzi scheme. Many of these operations have been around for years and now they're collapsing one after the other.

According to The Los Angeles Times, the Securities and Exchange Commission now alleges that a woman named Celia Flores ran a Ponzi scheme for 3 years that took in $23 million.

Clients of Flores' Maximum Return Investments were promised a return of 25% per month on their money. She claimed to have special methods of investing in oil, silver, gold, exploration activities, real estate and banking.

This was, however, just a classic Ponzi scheme. She was taking the money from original investors and paying interest with money from newcomers…on and on, month after month. Flores even offered a 10% referral fee to those who brought her new clients.

So where did the $23 million go?

Flores allegedly bought a fancy home and used another $3 million to pay for a party intended to bolster her company's public profile. Maximum Return Investments was active in California, New York, Georgia, Utah, Nevada, Texas and Illinois.

The message here is simple: Don't buy into it anything where you're promised an outlandish return.

RIP-OFF ALERT: Have you seen those little signs on the side of the road that say, "Facing Foreclosure? Call Now!"

People who are in financial difficulty with their home are being hit by scamsters holding out the possibility of foreclosure rescue. But beware: They'll either strip the equity out of your home or charge you several thousand dollars in upfront fees.

The bubble states have been hit the hardest by foreclosure rescue scams. The Orlando Sentinel reports there are 40 outfits being investigated in Florida for violation of a new anti-fraud law.

Under the Foreclosure Rescue Fraud Prevention Act, fines are $10,000 per incident. If it involves a senior citizen, it's $15,000 per incident.

That's all well and good, but Clark thinks a criminal statute would have been better!

Please note that these scamsters have very professional presentations and their employees know the lingo of the industry. One outfit in the Sentinel article even went so far as to put all its employees in 3-piece suits!

If you are upside down in your house, you need to speak to a housing counselor. Visit NFCC.org to find one near you.

RIP-OFF ALERT: How many Americans get taken in Internet scams over the course of a year? 100,000? 500,000? Newsday reports it's more than 5 million of us!

Clark is absolutely stunned by that stat -- and he takes calls about this stuff all day long for a living!

By now you've probably become familiar with the usual suspects when it comes to Internet scams. There are the Nigerian scams; the bogus notices of international lottery winnings; the offers of unexpectedly enormous checks for a Craigslist or eBay item; and so many more.

There's a scam born every millisecond. According to the Newsday stat, it's like taking 13,699 Americans and filling a basketball arena every day of the year.

That's how many of us get taken annually!

In related news, yet another Ponzi scheme was busted earlier this month, according to a separate Newsday report. $55 million was allegedly taken by an investment adviser who set up 7 supposed funds to hold the money. He even generated statements for his clients -- something that's not very hard to do with a simple word processing program.

There are a few lessons here to note. You want to get your statements from a real brokerage house or fund complex like Merrill Lynch, Charles Schwab, T. Rowe Price, Vanguard or Fidelity, to name just a few.

Monitor your money and do not let your guard down! This is of special importance for successful entrepreneurs who may not have a lot of time to think about managing their money. That would be a real mistake.

RIP-OFF ALERT: Ready for news of yet another Ponzi scheme?

A Georgia estate planner named Robert Copeland stands accused of bilking investors of $35 million, according to The Wall Street Journal.

Copeland had promised returns of 15% every 6-12 months using a "special" method of real-estate investing.

As with any Ponzi scheme, it initially works out because you can pay new investors with the money you've taken in from the original investors. But eventually, you mathematically run out of enough people to keep up the ruse.

So Clark wants to once again sound a familiar refrain: No one can promise a return on your money that's completely safe and somehow earns up to 5 times what anyone else is offering.

Think about Bernie Madoff. He duped a lot of supposedly sophisticated investors out of $50 billion. These investors suspended common sense because Madoff claimed to have a "special" system to safely generate annual returns of 10% or 12%.

Historically, a return of 10% or even 15% is not outrageous. That's why the cleverest Ponzi scheme operators promise returns that are right in that sweet spot. Their goal is to fly just below the radar to avoid detection, and to attract people with great amounts of money.

Be wary of any "no risk, great return" pitch. Simply go to BankRate.com and see the highest rate of interest you can earn on CDs. That way you can gauge what's normal if someone tries to offer you a substantially higher rate with their investment scheme.

Clark recently spoke about what a rip it can be to sell your gold jewelry via those silly "cash for gold" ads you see on late-night TV.

But the success of those ads has created another homegrown cottage industry in the form of gold parties. These events take their cue from Tupperware parties, lingerie parties or any similar gatherings.

Their popularity should come as no surprise; an ounce of gold was trading for more than $936 at last check!

The problem with these parties is that you may or may not get fair value for your gold. Usually, people are so desperate that they think whatever money they get is fantastic.

So how do you protect yourself? If you must get rid of your jewelry, you're better off selling it as jewelry rather than for the intrinsic value of the gold contained therein. Clark suggests using Craigslist as a starting point for selling.

If you really just need quick cash, be sure to go around to several jewelers for a quote. You'll want to see at least 3 jewelry dealers during your interview process.

So, yes, the gold parties are cute -- they're a great excuse to enjoy a few glasses of wine and socialize with your girlfriends -- but you'll probably get ripped off.

RIP-OFF ALERT: Radio Shack and AT&T have teamed up to offer a $99 laptop, but there may be more than meets the eye to this offer.

The deeply discounted netbook is only available once you agree to a 2-year AT&T data plan…with a 5 gigabyte Internet usage cap that can really eat up your wallet. Keep in mind that the average consumer probably has no idea what constitutes 1 gigabyte of use or 5 gigabytes of use! And apparently there aren't any warnings either.

No surprise then that FierceBroadbandWireless.com reports people are getting clobbered on this "deal." In fact, a customer filed a lawsuit after her first month's bill amounted to $5,000!

We're not just picking on AT&T here. FierceBroadbandWireless.com has also taken Verizon to task over similar marketing practices.

So the takeaway here is make sure your wireless card is unlimited or you'll risk being charged massive overage fees. And you never want to tie the purchase of a computer into a commitment to use any particular provider's wireless card or data plan.

Likewise, you want to beware of T-Mobile's WorldClass International Roaming plan. One person allegedly got verbal assurance from T-Mobile's customer service that this was a cost-effective way to make calls from overseas. Then the customer was hit with a $5,000 bill, according to The Orlando Sentinel.

Remember, always buy a prepaid chip once you get overseas to make your calls!

Have you seen the TV and newspaper ads pushing Amish heaters? You supposedly get the heater for free -- once you pay the $298-$587 in shipping and handling charges for the Amish-built mantle that encases the heater.

But wait, that's not all! The heater contained within the beautifully handcrafted casing is actually a low-cost Chinese model that's probably worth $15 or $20. Not exactly ultra energy efficient as promised in the ads, eh?

Meanwhile, Clark has seen at least one report of shoddy customer service. One person claimed it took 7 weeks to get a refund -- even though the product promises an easy money-back guarantee -- according to a report out of York County, Pennsylvania.

So if the goal is to stay warm, the consumer champ recommends just buying a $20 space heater.

Finally, it's important to know that this rip-off is not being perpetrated by the Amish, nor are they the ones paying to run the ads.

RIP-OFF ALERT: We've all seen the ads running constantly on bad late-night TV that promise you can turn your unloved gold jewelry into cash.

The Los Angeles Times recently ran a piece on Cash4Gold.com -- one of the most popular of these outfits that make such promises. The newspaper found that the amount of money you get is pitiful compared to the jewelry's worth. In one instance, a man sent in $150 worth of gold and got a check back for 15 cents!

Cash4Gold.com isn't the only company running such an operation. Others include Dollars4Gold, GoldKit and GoldPaq, according to the newspaper.

In a separate investigation, Inside Edition had a jewelry expert grade the value of the raw material in 23 samples before sending them off. The assessment came in at nearly $1,000…and Cash4Gold sent a check for $209.81 -- roughly 20 cents on the dollar!

It's like the Midas touch in reverse.

Be particularly wary of turning to an "insta-answer" option like selling your old jewelry online when you're feeling desperate. Payday loans and early tax refund loans also fall into the "insta-answer" category.

The truth is that a piece of jewelry is never worth what you originally paid. Part of what you buy is a sentimental attachment. Remember that jewelry is not an investment…unless it's an investment in the heart.

RIP-OFF ALERT: In most states, there are public records of who is falling behind on a mortgage. That's created an opportunity for swindlers who show up at your doorstep with a "personalized foreclosure rescue package" for you.

Likewise, we've all seen the "stop foreclosure now" signs on the side of the road. The punch-line in both cases is that you have to pay money upfront to stop the foreclosure. The average amount these swindlers steal from people is around $3,000, according to a recent New York Times report.

Meanwhile, there are some legitimate parallel tracks you can explore if you're facing foreclosure. These include seeking free counseling from a local affiliate of the National Foundation for Credit Counseling or going through the HOPE NOW Alliance. Be forewarned that Clark thinks the latter is a "political puff piece"; he'd prefer you go with the former option.

Lastly, you can try contacting your lender directly if you're in dire straits. It's surprising how many people won't talk to their lender when they get in trouble. Bad move.

RIP-OFF ALERT: The fact that scams are on the rise in a slowing economy should come as no surprise to anyone. People are getting desperate for money, and there are plenty of scamsters who would love to separate you from some of yours.

The Chicago Tribune recently ran a story that listed some hot scams to avoid. Here are a few highlights:

• The advance fee loan scam -- This oldie but baddie hasn't changed much over the years. It still targets cash-strapped entrepreneurs and small business owners with promises of hooking them up with a loan for a broker's fee.

• Mystery shopping scams -- This veteran scam comes as a promise to show you how to get free goods or money if you pay a fee.

• Foreclosure scams -- Unlike the first two, this is a relatively new ploy. If you are facing foreclosure, beware of people peddling promises that they can help keep you in your house.

• Clean up your bad credit -- This old standard has been particularly hot since September. You've seen the offers from companies that promise to remove debts from your record for an upfront fee. Know that the money would be better used to pay your debt down.

• Get-rich-quick schemes -- That new business opportunity touted as unbelievable is probably nothing but trouble for you.

There's a natural human tendency to look for easy, instant answers during desperate times. But the real answer is almost always more fundamental. You got into debt step-by-step and that's exactly how you need to get out of it.

Small business owners need to be aware of a new round of scam letters, e-mails and faxes relating to website domain registrations.

Clark recently took a call from an entrepreneur who received a domain name expiration notice for a site she owned. The woman forwarded the letter to Clark and it looked completely legitimate with barcodes, a pricing list and more.

But the other side of the letter contained a page of mice type in light grey ink that you couldn't read to save your life. After using a magnifying glass, Team Clark was able to determine that it was a solicitation from a company who wanted to essentially hijack the woman's domain and move her registration.

These notices are similar to the phony Yellow Pages and Internet advertising scams, according to Clark. As a small business owner with a web address, be on your guard for these hijackers who want to rip you with exorbitant fees. Don't fall for their ploys.

RIP-OFF ALERT: H&R Block has reached a nearly $5 million settlement with the state of California over its deceptive tax refund loans.

Early refund loans are one of the biggest rip-offs that can strike your wallet, according to Clark. Essentially, you pay H&R Block (or any other tax prep chain pushing this) a gigantic interest rate to expedite the return of your own money that you overpaid to the government in the first place. Interest rates on the early refund loans can be several hundred percent -- even up to 700%!

The pitch you get from the tax preparer is that you can get your refund on the spot or within 3 days. But you typically only have to wait slightly more than a week whenever you e-file. So why would you pay an interest rate of several hundred percent just to get the money a few days sooner?

Of course, there's a larger issue here. If you're being over-withheld, you're making an interest-free loan to the government.

Why not instead reduce your withholding to something more realistic? For example, if you get paid bi-weekly and typically get a refund of $1,000, that means you're being over-withheld by about $40 per pay period. Talk to human resources or a payroll specialist at work to make the change.

We've been hearing from listeners about a rip-off being perpetrated by the cable companies. Customers who are on basic cable -- sometimes called analog cable in industry lingo -- are being told they must switch to new more expensive digital cable service, and pay for a box for each TV, because of the Feb. 2009 digital TV changeover. If the customer refuses to pay more, he or she is told they may not be able to receive all the channels that they currently enjoy. This is a complete lie, according to Clark.

Clark had Joel contact the Consumers Union about the issue. Consumers Union -- which publishes Consumer Reports -- had also received many complaints on the issue and filed a petition with the FCC about these lies. Joel also tried calling the FCC at least 4 separate times, but he got blown off each time.

Now the FCC has responded to the pressure and initiated an investigation of all the cable companies concerning their alleged lying. The cable companies are simply trying to capitalize on the confusion surrounding the Feb. 2009 changeover.

Here's what you need to know: The changeover only affects those who still get their TV via old-fashioned "rabbit ears" reception. The government is subsidizing the purchase of converter boxes for the rabbit ears crowd with $40 coupons. These converter boxes themselves cost anywhere from $40-$60. If you're a rabbit ears customer, be sure you get a converter box that transmits both analog and digital signals. That way you can still get smaller stations that are not required to switch to digital broadcasts.

RIP-OFF ALERT: Clark recently took a call from a listener who was rattled by an insurance seller trying to scare people away from AIG annuities. The caller was told she should bail on her supposedly "unsafe" AIG policy and come to the seller's company.

That's just plain irresponsible fear-mongering. The caller would have faced severe surrender charges if she listened to the salesperson. This kind of "churning" is dishonest, but Clark wishes it were criminal.

Turns out this caller's report is not an isolated one. The insurance departments in New York and Kentucky have warned their residents about this type of scam. Pay attention especially if you have older relatives who could be susceptible because they have AIG policies. Don't allow them to be swindled.

Here's the bottom-line: All AIG policies are solid now that the company has been bailed out by taxpayers. So don't let a pushy salesperson capitalize on fear in the marketplace and get you to make a bad decision based on emotion.

If you're listening and are too embarrassed to admit that you've already been scammed in this way, you need to immediately call your state's insurance department and see what kind of recourse is available to you.

"Call now! Operators are standing by!" Clark wants you to be careful about TV offers. He recalls a fun news story he did about five years ago where he ordered a number of products off television ads. Each one was hyped to be the greatest product ever sold. In the news spot, they first showed the TV demonstration, then they cut to Clark actually using that same item. Not a single product worked like it did in the commercial! One of his favorites was an ultra-strong power washer that attached to your garden hose, with a claim that you'd never need to hire a professional power washer for your concrete or siding again. He hooked it up to his hose, turned the water on high, pulled the lever.... and the water barely dribbled out. Nothing happened. At least it made for some great video!

You probably have been burned by a TV offer before. WCPO in Cincinatti recently did a spot on the "Awesome Auger," one of the top products being sold this year. The reporter said the only thing "awesome" about it was the extra charge you might find on your bill once you ordered it. The product was advertised at $19.95. But the "Shipping and Handling" charges totalled $140! Then he proceeded to list all the complaints the Better Business Bureau had received on the product.

Clark just wants you to know that when you see something advertised on a commercial or infomercial, the sales pitch is geared to create a sense of urgency before you come to your senses. ("But wait! There's more!") Know that you can never be sure what you're going to get. If you do buy something, make sure that you have -- in writing -- your right to return the product for a refund. And only pay by credit card so you can dispute the charge if necessary. But the best thing of all? Just say no.

RIP-OFF ALERT: Cell phone companies have been engaging in a practice that's been ripping you off! It's happening most often to those who have an add-a-phone service (where you add a friend or family member to your plan.) The industry is making huge money doing 3rd-party billing for "services" that other companies claim they've provided you -- services such as ring tones, joke-of-the-day texts, etc. The cell phone company gets such a large commission for doing this kind of billing, that they've been purposely deceptive about the practice. The Cyberfraud Task Force of the State of Florida went after AT&T for billing their customers for services that they'd advertised as being free. The settlement was over $10 million, for Floridians alone.

Clark knows that cell phone bills are impossible to understand. Clark's last cell phone bill was 56 pages long! But Clark goes through it page-by-page each month. About once every four months he'll find something that's not legit. (Most recently, he found a $2.95 charge for a ring tone that the provider's website claimed was free - but they lied.)

The cell phone companies have no incentive to clean up their act, since it's such a cash cow for them. And according to Smart Money magazine, they go out of their way to make these charges hard to find on your bill. Therefore, Clark says he needs YOU to be the cop for your own phone bill. Look for deceptive terms such as "Premium Content", or "Direct Bill Charge" (sometimes referred to as "DBC" on your bill.)

RIP-OFF ALERT: Here's an oldie but baddie that dates back some 20 years ago to Clark's first days on the air.

According to the FBI, advance-fee loans have roared back into action after years of being off our radars. Business owners and individuals are the typical targets.

Here's the way it works: Businesses are in a cash crunch because so many lenders are reducing or shutting down their lines of credit. That creates a fertile ground for smooth-talking con artists who represent themselves as being industry experts on finding loans. Unwitting victims get taken when they pay them an upfront fee for loan origination -- and never hear from them again.

The Wall Street Journal reports that some 100 business owners lost untold millions recently in one week because of this practice. But it's not always big-money targets the crooks go after. In one instance, the owner of a daycare was taken for $2,000 in the hopes that she'd get a $20,000 loan. On the other end of the spectrum, another business owner seeking a loan of $250 million wound up paying $260,000 upfront.

The answer to the credit crunch is never paying someone a fee to get loan for you.

There is, however, a related gray area -- and that's selling off credit card receivables. It's a way to generate revenue today on income that will be coming to you down the road. While this practice isn't illegal, it does often come with a massive rate of interest that can be upwards of 60%.

So if you're a small business owner in need of funds, see if you can find another way to keep things going. Selling your credit card receivables may be legal, but you may just dig yourself into a deeper hole.

RIP-OFF ALERT: You've seen and heard about the suffering in the Midwest because of flood activity, and the heroic efforts of everyday people who pitched in by sandbagging to reinforce levees.

When bad things happen, it brings out the best and the worst in people.

The FTC has issued a new warning about scamsters who are stealing money by pretending to collect funds for flood relief charities.

You could substitute any other natural disaster in here and still get the same outcome. It could be Hurricane Katrina, the Christmas Day Tsunami or 9/11. These sleaze-balls come out and steal at a time when people are genuinely concerned and open their wallets.

So be wary -- after any disaster -- when you get a call from a solicitor. Don't give them any money over the phone. Ask them instead to send info and then make your decision. Be wary also of phony e-mails.

You only want to give to organizations that you have firsthand knowledge of or that you know to be OK. If you're in doubt, research a potential charity at Give.org.

The sad truth is that many people will be "once burned, twice shy" when it comes to opening their hearts (and wallets) during the next disaster. That's why it's important to do your homework first before you give any money.

RIP-OFF ALERT: There's a sophisticated ruse going on right now where criminals use the triple threat of e-mail, phone calls and text messages to trick you into yielding your account information.

This trio of messages will look and sound completely legitimate. They may prompt you to call a seemingly legit toll-free number and talk to an "investigator," or direct you to a website that looks real with logos from your bank, credit union or brokerage house.

The truly scary thing is that the criminals already have access to all your contact info. The Kansas City Star reports that the FBI and Secret Service are aware of this scam. So beware if you get hit with this trifecta of phishing (e-mail), vishing (voice mail) and smishing (text).

What should you do if you think you're on the receiving end? Don't divulge your PIN number or other sensitive information. Go to your real bank's website, look for the contact info and call them that way. Don't respond back to what you see in an e-mail, even if it looks legit.

Yes, Clark wants to make you paranoid.

Think you may have already fallen prey? Contact your bank and tell them to check into it before the suspected crime progresses any further.

RIP-OFF ALERT: The FTC has announced the largest-ever bust of telemarketers as part of its “Operation Tele-PHONEY.”

Here’s the scoop: Scammers were trying to sell people all kinds of things over the phone, from advance fee loans to big savings on Rx to magazine subscriptions to household products for seniors. Though they were many independent telemarketers, the common thread here is that they all sought to get your checking account information. Once they had it, they would bill you and try to empty out your account.

The banking industry continues to have zero security in place for drafts on your account. A legitimate person trying to cash a hardcopy check will be put through the ringer at bank. But if you just have an account number and present a draft, they’ll pay it no questions asked. This is a true Achilles’ heel that can easily be exploited by criminals.

The takeaway is simple: Never give out your check routing number over the phone or on the web. Pay via money order if you’re dealing with a collection agency. Sure, you may pay a nominal fee to do so, but this is the only truly safe way to settle up your debt.

RIP-OFF ALERT: Clark recently read an article in The Los Angeles Times about a woman arrested for running a Ponzi scheme in California, Nevada and Georgia. Jeanetta M. Standefor is the woman behind Accelerated Funding Group, an alleged investment group that operated under the guise of a mortgage rescue operation.

About a year ago, Clark distinctly remembers getting a call from a listener who was gung-ho about the "virtually risk-free" investment option being offered by Accelerated. Here's how things went down: You put money with the group and you were supposed to get a 50% return in 6 weeks. So people rushed to put in about $18 million. They were told their money would be helping people avoid foreclosure.

But this was just a classic Ponzi scheme. Early investors were simply paid with money from those who came in later. There was no investment activity going on at all.

Today's low interest rates on savings mean that we're overly susceptible to scams like this. But there are other sneaky things going that aren't illegal, but could easily prove to be a major pitfall. Seniors should be particularly wary of newspaper ads promising really good CD rates. When they call up for further info, they get pitched on variable annuities by insurance salespeople.

The reality is that the bum interest rates are here for the time being. But it won't be this way forever. So don't do anything outlandish or you may be separated from your money.

Clark recently discussed how he was furious over kangaroo court arbitrations in the corporate world. Many banks force customers into these joke arbitrations that are worthy of a banana republic. Of course, the financial institutions routinely select arbitrators that rule in their favor.

Days after his initial comments, The Wall Street Journal did a story about nursing homes that harm or kill people through negligence. Surviving family members have no recourse because they signed mandatory arbitration clauses when they were admitting their loved ones. It's getting to the point that nursing homes have no incentive to not kill people; there's nothing families can do after the fact.

The Wall Street Journal is not exactly a bleeding heart liberal publication, but they're very angry over this. So what can you do to protect yourself before you put a loved one in a nursing home? They suggest you carefully vet the admission contract and see if you can opt out of the mandatory arbitration clause. If you can't avoid it, try writing the following next to the clause: "I'm signing this because I was told that I have to." That creates the possibility that you can potentially get out of mandatory arbitration in the event your loved one is harmed or killed while in their care. The thing with the banks was bad enough, but it's a whole different story if they kill your mama.

Last year, Clark told you that nursing homes were using multiple holding companies behind the scenes to limit their liability. There are a lot of things going on in this industry that are unacceptable in a decent society, according to Clark. Interestingly, the demand for beds in nursing homes has been far lower than what demographers anticipated. That's because more families are choosing in-home care options for their elders. You need to feel confident about who's caring for your senior loved ones.

RIP-OFF ALERT: There's a new breed of scam popping up all over the country that's targeting our elders. It's called equity stripping or foreclosure rescue, and what it boils down to is people trying to steal your home without a gun. It all starts when you get a flyer or a visitor at your door talking about how they can help you stay in your home and give you money. People desperately want to believe these kinds of lines. They're asked to sign a contract and in doing so sign over ownership of the house.

One criminal ring was recently indicted for stealing over 100 houses in this way. Meanwhile, the FBI has received 60K complaints about equity stripping scams. If you have aging parents, Clark wants you to be nosy and make sure they're not falling for this ploy. You don't want to get a phone call one day and learn your folks are renting or staying with a friend because they lost their home.

RIP-OFF ALERT: Whenever Clark delivers a speech to seniors, he's always approached by those interested in doing reverse mortgages. Reverse mortgages offer a way for retired folks who are running out of cash to be able to remain in their home and get a check each month by borrowing against the value of the property. This can be a good option if you don't want a family member to inherit the house. Historically, however, the fees on reverse mortgages have been about 300%-500% higher than those associated with a regular mortgage.

Clark knows that most insurance salespeople are decent. But then there are those awful ones looking to perpetrate an equity stripping scam. They gain the confidence of an elder; strip the equity out of their home as a lump sum (instead of a monthly payout); and put it into piece-of-trash annuities, which net massive commissions for the salesperson.

If you have aging parents or other elderly loved ones, Clark wants you to put the warning out for them. Only a small sliver of insurance agents are this sleazy. But the sad thing is that if they're caught, they may only have to give the money back. How is that supposed to discourage them from doing it again? States need to pass criminal sanctions that will allow for hard time for equity strippers.

One final note: There's only one type of annuity that's absolutely fine for seniors -- immediate payout annuities, also called life annuities. The irony is that you won't hear about these from most insurance salespeople because they have tiny commissions.

RIP-OFF ALERT: In times of economic uncertainty, you're more likely to be taken in investment scams. With CDs, treasuries and stocks all hurting, people are desperately searching for a safe and profitable place to stash their money. Even Schwab is being sued over its YieldPlus Fund…and that's a legitimate company that made an honest mistake.

In a separate instance, The Los Angeles Times recently reported on a duo selling private investments in public equities (PIPEs) with the promise of returns of about 40% a year! The duo stands accused of conning more than $40 million out of everyone from retirees to sophisticated investors. One of alleged cons bought 2 multi-million dollar homes in Nevada, jewelry, clothing, cars and more. People trusted them and they were able to exploit that trust.

Meanwhile, Clark was recently approached by someone at the studio asking him about foreign CDs promising a "guaranteed" return of 18% a year. Anyone promising a number beyond 4% or 5% annually for a "safe" investment is suspect. "Safe returns" and "decent returns" are mutually exclusive. People just have to get used to the idea that right now you can't keep up with inflation. For long-term investors, Clark's advice is to get past your fear of the stock market and diversify your portfolio -- that's the key to creating wealth in the long run.

Clark is getting calls about a new kind of tax ID theft, plus a WTMJ listener recently told him her own disturbing story. The latest scam involves someone using your Social Security number to provide false tax info and apply for a refund as if they're you. Then when you go to file your taxes, you're told that you can't file twice. The ways people get our Social Security numbers are myriad, and there's not enough attention paid to this area. Another scam listeners are telling us about involves getting a notice from the IRS saying you owe money because you did not report all income for a prior tax year. What actually happens is that someone working illegally files a W-4 in your name and that income gets reported by the employer.

Clark has a somewhat radical suggestion that's a twofer: It deals with tax ID fraud and would eliminate the hiring of illegals. Clark recently joined the trusted traveler program and agreed to have his eyes and fingerprints scanned. This allows him to speed through security at select airports. Now Clark thinks it's reasonable -- in an era where nobody seems to know who we are anymore -- to be fingerprinted upon accepting employment or filing a tax return. Does this idea creep you out? Tell us by voting in our poll!

RIP-OFF ALERT: The Berkeley Center for Law and Technology analyzed corporate America to see which companies have the highest incidence of ID theft. The No. 1 company? Bank of America. BoA is the nation's second largest bank. (If you look at the numbers based on total customer base, BoA then actually comes in second behind HSBC). AT&T occupies the second slot, followed by Sprint (No. 3), JPMorgan Chase (No. 4) and Capital One (No. 5). Think about it: 3 of the first 5 are banks, which is understandable. But why are two phone companies way up there? The reason is because they do a credit check when you apply for phone service, and open yourself up as a potential target when they get your info. In the No. 6 spot, we have Citibank. As the nation's largest bank, Citibank has one-third less incidences of ID theft than the smaller BoA! Verizon, American Express, Washington Mutual and Wells-Fargo all round out the top ten. View the complete list online at the Berkeley site.

Now the inevitable question: Why do these institutions have high rates of ID theft? Clark speculates that it must have to do with the way they internally handle your information. Interestingly, the bank with the lowest incidence of ID theft is ING Direct. You would think they'd be up at the top of the list since they're Internet only. But being a newer bank, they've been dealing with outsmarting ID thieves since they launched. It's much tougher for a legacy financial institution to retroactively patch good protection into systems that were built decades ago. ID theft has not grown significantly -- it still happens to about 10 million people a year -- but it's still a major issue. Finally, from the "no they didn't!" category, the New York City Department of Finance sent tax forms to 1000s that showed people's Social Security numbers through the envelope. C'mon people, this is 2008! Get with the program.

RIP-OFF ALERT: Clark's wife recently received a letter about inclusion in a "who's who" organization. The pitch proudly proclaimed how there's no cost to be recognized in her given field for outstanding contributions. In reality, there isn't any cost; this is more of a classic rip-off than a crafty scam. Here's the scoop: There are a number of vanity organizations that send out these query letters. There is no cost to reply and have your name included in their listings. But once you respond, they try to sell you framed pictures, books, plaques and more to turn a profit.

When Clark was in college, his mom got taken in a similar rip-off. Clark was supposedly "selected" as one of the nation's top college students. Yet there was no selection process other than his mom filling out the form and sending it back in. So for his birthday, she gave Clark a plaque and a book that she ordered. The book featured Clark listed with all the other kids who had parents that also gotten taken!

Here's what you need to know: If you get a letter like this, Clark wants you to buy a frame at the dollar store and hang the letter on your wall. Don't respond and don't buy any extras goodies from the vanity organization itself!

RIP-OFF ALERT: Clark gets very steamed whenever he hears about children or seniors getting ripped off. Here's a scenario that affects the latter group: Clark has been getting a lot of reverse mortgage questions. Reverse mortgages offer a way for retired folks who are running out of cash to be able to remain in their home and get a check each month by borrowing against the value of the property. This can be a good option if you don't want a family member to inherit the house, but historically the fees on reverse mortgages have been too high. Now Kiplinger's reports that insurance salesmen and women are convincing seniors to do reverse mortgages, cash out the value of their homes and…you guessed it…buy variable annuities. AARP finds that 1 in 10 people doing reverse mortgages were conned into doing so with the promise of such pseudo-investments.

This is unconscionable. Clark doesn't know what goes on in the minds of the banks, brokerage houses and insurance companies who push these modified reverse mortgages. The variable annuity shtick is bad enough, but it's really infuriating that they're pouring salt into a wound by stripping the equity from a home. Clark believes it's not enough to fine people who push this stuff; the only way to stop this is to send them to prison. The fines that can be levied are never enough and just reinforce the idea that crime pays. So you must be the cop on the beat for your elderly relatives. Be nosy and find out what's going in their lives. Hopefully they were there for you as a young person, so try returning the favor by being there for them in a time of need.

RIP-OFF ALERT: Zombie debt is a lucrative and illegal part of the debt-collection world that Clark wants to warn you about. Scavenger collectors buy up expired debts that can be up to 30 years old for as little as 1 penny on the dollar. Then they unleash vicious collectors to try to collect, and frequently violate the Fair Debt Collection Practices Act in the process. They may be going after debts set aside in bankruptcy; stemming from ID theft; or that have passed the statute of limitations, which is typically 4 years on credit card debt. There is no legal way they can collect these debts, but that doesn't stop the scavengers from trying to intimidate you.

This is not a discussion about whether or not you should pay your bills; this is about what your rights are on old debts. The scavengers are so good that they typically collect about 13 cents on every dollar. Many of them also engage in illegal activities by wrongfully putting old debts back on your credit report; harassing you over the phone; or secretly taking money out of your account. If you're being harassed by a zombie debt collector, send them a certified letter stating the debt is invalid and instructing them to stop contacting you. But beware that scavengers don't care if the debt is valid. They've declared war on your wallet and will use any tactics. Be tough and know your rights.

RIP-OFF ALERT: Presidents' Day weekend is the biggest sales time for mattresses. But beware because the bedding business has historically been filled with snakes. When you're looking at their colorful inserts and TV ads, know that they are listing promotional price bedding. Manufacturers make a tiny percent of their production runs to be used for this purpose. When you lay down on a promo mattress in a store, you'll probably think the floor would be more comfortable. This is done on purpose so the salesperson can then steer you to a more expensive mattress. It's the old bait-and-switch. They also make comparison shopping difficult because they never use the same model number. You can look at the same mattress at several stores, but you'll never know it because it's been given a different model number each time.

ConsumerAffairs.com recently reported on the worst places around the country to do your mattress shopping. But Clark wants you to know there are people in the business who play it straight and aren't rodents. You can tell when they don't start with the bait-and-switch and instead actually offer a comfortable bed for a good price. Even still, take a picture of the tag on the mattress to show the model number of what you're buying. This prevents them from later trying a reverse switch and delivering something other than what you purchased. And always remember to pay with a credit card so you're protected from delivery problems or phony additional charges.

Clark also recommends mattresses from the warehouse clubs because they have little markup. He wants to commend Sam's Club for having pullout mattresses available for you to check out. That way you don't have to pull a mattress off the wall. When you do try a mattress out, get a book and chill for a while to thoroughly vet it before buying.

RIP-OFF ALERT: File this one in the "News of the Weird" bin. An Internet-based virtual world called Second Life has spawned rip-off artists who scam users out of very real money. Second Life is a virtual community where you create a new you and live out a second identity in a digital world. Scammers got into Second Life and set up a virtual bank. But it's not real, right? Well, here's the rub: They got people to deposit real money with the promise of large returns. The Chicago Tribune reports the scammers made off with $75K.

This whole strange episode is an early warning signal that even in your play area on the 'Net there are people who aren't playing at all. Folks are more likely to let their guard down in Second Life. But this is no different than going on vacation and getting your wallet or camera stolen because you didn't safeguard it. Clark also says to be wary anytime you're promised huge returns; it could be a classic Ponzi scheme. Beware when words like "guaranteed" are thrown around. The only thing that's guaranteed is that your wallet will get burned. Meanwhile, the Better Business Bureau has put out an alert that's particularly timely: As people have financial hiccups because of the slowing economy, they're more likely to be susceptible to a variety of "Get Rich Quick" schemes. For example, Clark recently took 2 calls on currency exchange scams. Be sure to avoid this one.

Longtime listeners know that Clark despises the gift card market. The only exception to this rule is when you get more than what you pay for from a retailer or merchant. Examples of this include getting a $125 gift card for $100 or getting bonus services thrown in during the purchase. Business Week recently ran a story that reinforced why retailers push gift cards so hard. It's like stealing money without a gun; they know a large percent of the cards won't ever be redeemed. You may have heard that Home Depot holds more than $100 million in unredeemed gift cards. But now Business Week has discovered that Best Buy is sitting on a whopping $500 million in outstanding gift card revenue!

States are now wising up and enacting laws that require retailers to turn over unredeemed gift card money after a certain period of time. If people go to redeem the card, they'll have to get their money back from the state. Clark recently was in Austin, Texas, visiting his affiliate station KLBJ-AM. There he spoke to a member of the state legislature who told him Texas enacted its own law after hearing one of Clark's gift card rants. The worst kinds of gift cards are the ones issued by banks, which come with a ton of fees. The federal regulators have not put any rules on the banks as of yet. That alone tells you who they work for -- and it's not you and me.

There are a lot of pseudo health insurance companies out there selling fake plans to employers and individuals. The Wall Street Journal reports that some 200,000 businesses have been taken in these kinds of rip-offs. Small businesses crushed by high premiums are very susceptible to the lure of cheaper health care. But when somebody gets sick, the insurance card comes back as a fake and all the bills go unpaid. This has been happening in state after state. Insurance is regulated by the states, not the feds, so the rip-off artists can just bounce around from state to state pulling their scams. What do you need to know to stay safe? First off, be wary if you get a pitch for a great deal with drastically lower premiums. But don't let your skepticism stop there. Contact your state insurance department and ask if a prospective company is licensed to do business in your state. Make sure the name matches exactly because sometimes the rip-off artists will use a name that's very similar to that of a legitimate business. Seniors also have to be especially careful of fake prescription plans. Once again, call your state insurance department to verify if a health insurance salesperson represents a legitimately licensed company. Preventative steps are the best medicine for your wallet.

Clark wants to warn you about a new e-mail scam making the rounds. Criminals have been gaining access to e-mail contact lists and sweeping out all the addresses. They then send out a very distressed note in your name to every contact on your list. The e-mail will claim that you're in financial, legal or medical trouble and that you desperately need money right away. The criminals hope that even one or two of your closest friends will respond with an offer of funds. Public e-mail services such as Yahoo! have been hit by this scam, according to The New York Times. Sometimes the criminals will even change your password while they're in your account. At that point, it can be very difficult to reclaim your e-mail address. So if you get a suspicious e-mail from a relative or friend, call them first and find out what's going on before you give them your money. On a related note, there's now a $5 security key that really helps secure your PayPal account. The key generates a random code every 30 seconds that you must use to access your account. Even if a thief has your e-mail address and password, they still won't be able to get in without the code. These kinds of security keys have become so inexpensive yet so invaluable. Clark hopes that brokerage houses and banks will soon be offering these devices to customers.

There are around 150 million Americans on the Do Not Call list. That has really frustrated insurance salespeople who would like to rip off a lot of old folks they're now forbidden to contact. So some marketing companies have come up with lead-generating programs to break the Do Not Call barrier. Here's how it works: The marketing company mails a postcard to a senior telling him or her that there's a problem with their Medicare or Social Security benefits. Some postcards even had the AARP logo or official government addresses on them to suggest credibility. When someone responds to the postcard, they're exempting themselves from the Do Not Call list. Insurance companies then pay big money to the marketing companies for the rights to get those numbers and set up appointments to pitch elders on bad investments.

The Wall Street Journal reports that in one instance, an 83-year-old man fell for this rip-off tactic and was sold nearly $180,000 in annuities that wouldn't mature until he was 90. The salesperson made a commission of around $20,000. Some of the companies that have been involved in these postcard scams include ChoicePoint, American Family Prepaid Legal Corporation, Aviva PLC and many others. In fact, AARP won an injunction against ChoicePoint for using their logo. So if you are a senior or if you have elderly parents, know that these phony postcards are being used to con elders out of their hard-earned money. Clark thinks the real solution here would be to criminalize the sale of variable annuities to people over a certain age.

Clark works with a sales representative who is very charitable with his money. After being solicited by someone trying to collect money for firefighters, the sales rep agreed over the phone to give $25 to the cause. But when the pledge card arrived in the mail, there was a message stating it was not a charity and contributions were not tax deductible. The rep was in a classic moral dilemma; he wanted to honor his commitment, but no longer felt comfortable about it. Clark told him not to give the $25 in this instance.

With the holidays approaching, we're susceptible to being taken advantage of through our generosity. So anytime a solicitor calls seeking funds, your standard answer should be, "I don't give money out over the phone. If you'd like, you can send me some literature on your organization so I can make an informed decision." If you say that to a scammer, you'll probably hear Mr. Buzz -- the dial-tone -- because they'll be on to the next caller. There's a grey area here with phony solicitors seeking money for fire departments, police departments and the military. Clark recently heard of one group raising money for soldiers. But it turned out only a third of 1 percent of the money was actually going to soldiers. That means 99.7 percent was being stolen from people like you with false promises. You also need to beware of union-collection activities. Any contributions you make are not deductible and do not go directly to the benefit of fire or police workers. They instead go to union-funding efforts in law enforcement and public safety fields. The bottom line is that you should have firsthand knowledge of any group you're considering funding. Many legitimate charities are inefficiently run, so only pennies may actually go to the intended recipient. Give your money instead to organizations you know you can trust and believe in. The best organizations for this are ones you're involved in yourself. Clark has compiled some tips to help you know exactly how your charitable donations are being used.

There is an unpatriotic segment of the population that has been thriving by ripping off members of our military with usurious loans. Clark thinks it's disgusting that the soldiers who lay their lives on the line for our freedom are being taken advantage of by scum. This issue directly impacts our national security when military personnel can't deploy because they're burdened by mountains of debt and can't get security clearance. Some of these locust payday lenders have been stationing themselves outside of military posts and making loans with interest rates beginning at 390 percent! Many military recruits have fallen for this because they're young and not sophisticated in the ways of finance. Congress previously outlawed these sickening loan practices, but only now has the Pentagon formalized rules to protect the young men and women in our military. It is now a federal crime for a payday lender to rip off a soldier. The rules also extend to loans offered to the spouses of soldiers. Other provisions of the new rules ensure that soldiers will soon have access on their posts to financial advice 24/7 and extra low-cost loans.

Sometimes people call in to the show and complain about having credit cards with interest rates of 28 or 30 percent. But that pales in comparison to something Clark recently heard about. The Kansas City Star reports that some online lenders make loans in the amount of $500-$2,500 dollars at 650 percent interest! These people are loan sharks and they're spreading like locusts because of the Internet -- even in states that don't permit lending of this type. But these lenders are still making illegal loans across state lines. The people who make these loans are complete and total scum, according to Clark. These lenders say they're taking on big risk by lending to people with bad credit or no credit. They're also arguing in various federal courts that they are not subject to the state laws where they're lending, but rather only in the states where they're set up. That's the same deal with the credit card companies. Many years ago the Supreme Court ruled it is legal for a bank to set up its credit card operation in a state where there are no rules. That's why so many credit cards are based in South Dakota or Delaware. So now these scum Internet lenders are invoking these rights too. Will it fly? This will ultimately be decided as it works its way through higher courts. All you need to know is that when you see an Internet loan offer, you must turn your back on it. Don't take hard times in your life and make them worse.

Have you ever seen a full-page ad for a penny stock in a respected newspaper like The New York Times or USA Today? The Times recently ran a story about scammers who purchase full-page ads in legitimate newspapers and capitalize on the implied approval the ad gives them. Clark thinks it took a lot of guts for the Times to run this particular story because the paper had to admit it had accepted some dubious penny stock ads. Penny stocks typically "advertise" via spam, fax, or telephone. Anytime you get a message in your inbox about getting in on the ground floor of a company that's about to hit the big time, well, chances are it's a scamming penny stock.

In this latest twist, the penny stock scammers were actually buying full-page ads at a base rate of $37,500/page in well-known papers; some scammers even bought ad schedules valued at a quarter million dollars! A lot of unsuspecting people immediately thought these advertisers must be legitimate if they're in the Times or USA Today. Not true, says Clark. Advertising is paid propaganda, it's not news. There's nothing wrong with advertising -- it's an important element of capitalism -- but you have to be wary when scammers are the advertisers. Beware whenever a company buys ads touting how great they are and how you need to buy their stock. Do the independent research to verify any claims they make.

Whenever the economy hiccups, it seems like there are more and more scams being pushed on people. Has someone recently tried to offer "the business opportunity of a lifetime" to you? The Arizona Republic reports that the Better Business Bureau and Federal Trade Commission are getting increased complaints about these bogus business opportunities. Last year the FTC even initiated a program called Project FAL$E HOPE$ to help protect unwitting investors from such scams. The pitches that people are getting are very convincing. They're often delivered in hotel ballrooms, but also can come by word of mouth from someone you know. What these kinds of scammers are offering is great wealth -- if you buy their secret system or investment strategy.

Clark wants to warn people that there is no "insta-business." We all want to earn extra income, so the subconscious desire to believe these pitches is tremendous. The pitches can get so intense that Clark describes them as part church revival, part pep rally and all baloney. If you do get pitched, do some third-party research by talking to the BBB, or going to eBay and seeing if others are doing a protest sale. You'll know it's a protest sale if someone is offering a product or strategy that could cost you thousands of dollars for some ridiculously low price like $1.99. Chances are this person already paid money and got burned, so now they want to warn others. You can always buy what they're selling for a couple of bucks and investigate its legitimacy rather than paying full price to a scam artist.

Have you been approached by a representative from a company called either Metro Dream Homes, POS Dream Homes or Metropolitan Grapevine promising to help you pay off your mortgage in about seven years? This offer is yet another scam that's come to Clark's attention. All you have to do is pay $5,000 and agree to give up 15 percent of your home equity! Metro then says they'll invest your money in credit card machines, ATMs and other "revenue-generating devices" and use the profits to pay off your mortgage in five to seven years. Once the mortgage is paid, you then have to give Metro half of the new equity in the home. The state of Virginia recently crunched the numbers and found that they are mathematically impossible. Meanwhile, The Washington Post reports that Virginia and Maryland are seeking temporary injunctions and cease-and-desist orders against Metro. Don't buy into the pipedream being pushed by the company.

Earlier this week, Clark told you about a security breach at Monster.com where hackers stole the names, addresses, phone numbers and e-mail addresses of 1.3 million people. There have been so many breaches over the years that we're almost numb to news about them. But now there's reason to believe that the Monster breach could affect more than just a million people. Nobody knows the exact number -- it's just larger than previously thought. So if you've ever posted your information on Monster.com, you need to be aware that criminals are calling people up and pretending to be potential employers or banks to get additional personal information. Once they get your additional info, they have all they need to take your identity or empty your bank account. You should only divulge sensitive information in person at a potential place of employment or a bank. The web is too anonymous and dangerous of a place to share your info via e-mail.

Last spring just around tax time, Clark started hearing about a lot of people who received an e-mail scam that appeared to be from the IRS. Now the same scam has resurfaced. Here's how it works: You get an e-mail that appears to be from the IRS saying they owe you small refund usually around $139.50. The e-mail is branded with the IRS logo and looks legit. It originates from an address that ends in .us, which most people think is a sign of authenticity. A .us domain name, however, is the same as a .com. The real IRS website is a .gov, since it's a government organization. The bogus e-mail explains that the money will be deposited into your account -- provided that you send your account number and secret access code. If you comply, your account will be cleaned out by cyber criminals. Know that the IRS will never ask you for your banking info in an e-mail. Meanwhile, there's a similar scam circulating that appears to be coming from Coca-Cola. This one isn't legit either, so watch out!

Job seekers who entered their information in the Monster.com database may be at risk of identity theft following a massive security breach at the company. Identity thieves managed to steal the names, addresses, phone numbers and e-mail addresses of 1.3 million people. So beware if someone claiming to be an employer calls or e-mails asking to screen you as a potential employee. If they're an identity thief targeting you, they may ask you to divulge your social security number, mother's maiden name or place of birth. These are some of the remaining key pieces of info they'd need to steal your identity. If you think you've already been targeted or may be in the future, you're best option is to do a credit freeze. Consumersunion.org offers a comprehensive list of states that have credit freeze laws on the books. If you're already a victim, it's free to do a credit freeze. But you may have to pay some nuisance fees if you just want to do a freeze as a preventative measure. Right now 10 million people have their identity stolen each year. So why is there no national credit freeze law? The problem is that Congress is in cahoots with bank lobbyists who want to repel all freeze laws -- even those on the state level. We'll keep you posted...

Clark owns a mortgage that he collects payments on much like a bank would. Recently he's noticed that he is getting mail and phone calls from note buyers. These are people who are involved in the latest dare to be rich scheme. They've heard a pitch in a hotel ballroom somewhere about how you can score quick cash by approaching someone who owns a mortgage and offering to buy their note right now. They typically ask the note holder to sell his or her interest for anywhere between 70-90 cents on the dollar. Clark admits there is a very, very small legitimate business opportunity here. But most of these note-buying schemes are rip-offs.

On a related note, the median home price in the United States -- the level at which half of all homes are more expensive and half are less -- has declined this year for the first time since the feds started keeping records in 1950. Home prices are expected to get lower still in 2008 and even lower in 2009. There are some markets like Portland, Seattle and Charlotte, N.C., that are still increasing. But bubble markets such as Phoenix, Las Vegas, lots of California, lots of Florida, the Washington D.C. metro area and Boston are hurting. The only bubble market that hasn't burst yet is the New York metro area. Expect the average price of a home to decline about 1-2 percent per year for the foreseeable future. Just remember that you have nothing to fear if you're in a home and have no intention to move or sell. That being said, two million families will still be put out on the street this year alone. The only silver lining here is that the bulk of the foreclosures are not owner-occupied. They instead belong to speculative owners who may never have seen the properties they're losing. This housing "correction" is actually healthy because it will allow the country to get back to a place where home prices are more affordable to the average person. Finally, Clark denies that the media has caused the housing slump. The market is slumping because it was built on irrational loans that stretched people too far and too many houses going up on spec.

When you use a car dealer to finance your auto loan, the dealer will mark it up as much as they can. But the average black customer buying a new car pays an interest rate that's 40 percent higher than the average white customer -- even after accounting for differences in credit scores. Hispanics, meanwhile, pay almost the same as non-Hispanic whites, just slightly higher. In the used-car market, one in three blacks pay an interest rate that is above 15 percent, while the average rate for a white person is less than 10 percent. Clark thinks it's a shame that this residual racism is still around in 2007.

If you dig deeper into this story, you'll really find that anyone who doesn't get pre-qualified for a car loan will pay more than they should. So Clark advises anybody seeking an auto loan to get pre-qualified at a credit union, which will offer lower rates than a bank. Think about it like this: You may have spent hours researching your car thoroughly, but you've got to do the same on the loan. Dealers are entitled to make money on a loan if you don't do homework and get pre-qualified elsewhere. Historically, that mark-up had been about 10 percent points. After all the legal settlements of the past few years, however, it now is usually three percent. That means if a bank offers you a car loan for 5 percent, the dealer will offer the same loan for 8 percent. So whether you're black or not, it pays to get pre-qualified for an auto loan.

Do you need yet another reason to dump the three monopoly phone companies -- Verizon, AT&T and Qwest -- and their outdated landlines? Well, here it is: Verizon is playing dirty pool by getting into the AT&T game of charging customers a fee for long distance even if you don't use long distance. The Verizon fee is a couple of bucks a month, but AT&T had been charging people between three and five dollars to not use long distance! So unless you absolutely need a landline, why not liberate yourself? Here's the problem the phone companies are facing: They fought very hard to be able to sell long distance, but then people started using their cell phones, pre-paid cards, the Internet and/or cable phone companies to make their long distance calls. In fact, the cable companies usually offer unlimited long distance. So now the monopoly phone companies are fighting a losing battle.

Clark advises anyone who has older parents to go through their phone bill and see if you can save them money by enrolling them in Lifeline, which is a much more affordable tariff-rated service that seniors can get. Also be aware that if your parents have been in same residence since the early '80s, they may be paying a lease for telephones they had back then. Those fees could cumulatively amount to thousands of dollars, so be on the lookout on your folks' behalf. Finally, one last tip for saving money when it comes to your landline: If you pay for an unlisted number, why not just change it to a listed number and make up the name in the listing? Clark doesn't care if you call yourself Abraham Lincoln, the point is just to stop paying extra and unnecessary fees!

If you have kids, you probably know that Facebook is big among teens. This social networking site is becoming one of the main ways that young people communicate with each other online. But the problem is that if you want to use Facebook, you have to list info about yourself on a public page. This makes you a target for identity theft. A recent study found that nearly 50 percent of Facebook users put enough info -- things like birth date, hometown, family information and more -- to aid ID thieves. Kids don't understand the risks inherent in using some of this new social networking technology. It should be up to parents to educate themselves so they can have an intelligent discussion with their kids about the issue. Clark advises parents to sign up for their own accounts and figure out how these things work so they can safeguard their kids.

There's a lot of turmoil in the savings world -- once considered the safest part of market -- and much of it involves money market mutual funds. Money market funds are not federally insured, but have historically been designed to be a safe place to put your money and allow you easy access to it when needed. The way they work is that you buy them for a dollar per share and then earn on every dollar with the change in interest rates. They're often sold by mutual fund companies and stockbrokers, and have proven to be a safe haven for three decades. Money market funds obey the "don't break the buck" principle, which is like an unwritten law stating that they'll always be a dollar per share.

Now there are news reports about similar investment opportunities that mimic money market funds but take on additional risks. Sentinel Management Group, for one, is sitting on nearly $1.6 billion in investments of this type and is not allowing people to get to their money. Other major players in the field have experienced a drop in value. For example, Yield Plus is down five-and-a-half percent. Keep in mind that a true money market fund couldn't drop in value because it's always a buck. So how do you know if you have one of these impostors? Clark says to beware if they have the word "plus" in their names. But Wall Street couldn't be happier that a lot of people have these cousins of traditional money market funds. After all, investors are being socked with higher fees for these new investments that are supposedly safe. Clark wants everyone to look at their money market funds statement and know what they own. If you're in one of these fake money market funds, try putting your savings in CDs, a plain vanilla money market fund or a tax-free municipal bond. The latter works well for those in a high tax bracket who make more than $100,000 per year. Meanwhile, for everyone else who lives paycheck to paycheck, retailers like Wal-Mart have hit tough times because their customer base doesn't have much expendable income. Looks like it might be tough holiday season for retailers.

Have you been receiving phony e-greeting cards in your inbox lately? If you open these, you might get spyware and others kinds of malware on your computer. Clark is really upset about this trend because e-greeting cards should be a pleasant thing. Unfortunately, something so innocent has been corrupted. The latest incarnation in this rip-off scheme works in the following way: Criminals send out bogus e-greeting cards and if you open it, you download a program that steals e-mail addresses from your contacts list. Once the criminals have those e-mail addresses, they send out another fake e-greeting that appears to be coming from you, staring the cycle all over again. The worst part is that when you opened the initial e-greeting, you probably also unknowingly downloaded a key logger program. This program tracks every key you type, including usernames and passwords for your bank, brokerage or mutual fund accounts. Under the law, you are protected if money is stolen from your bank account, but not from your brokerage or mutual fund account. Some brokers have issued their own policies that allow for customer protection. But the bottom line is that you must run anti-virus and anti-spyware software on your computer. Clark likes Spybot - Search and Destroy, a free program that will eliminate key loggers and other spyware on your system. Hopefully the legitimate e-greeting businesses will find a way to regulate their industry so people can again have faith in their products.

Clark has often talked about how free meal seminars offered by annuity salespeople are to be avoided at all costs -- unless you want to get indigestion in your wallet for the rest of your life. An annuity is basically an insurance contract. The money you put in is not taxed until you spend it. Salespeople love to sell them because they get giant commissions. In fact, the commission is so large that it's hard for even a decent person to avoid the temptation of selling this garbage. Now The Wall Street Journal reports that a class action lawsuit has been filed against Allianz. This German-based company has been selling equity index annuities to older people via seminars, infomercials and free-dinner events.

Equity index annuities promise a portion of the gain of the stock market, while assuring holders against losses. They offer the allure of getting money without risk. But Clark thinks they're a piece of trash because all insurance companies cheat you on the gain -- only giving you a tiny portion of the actual gain in return for their guarantee of safety against market loss. Worse still, you usually have to stay in for 15 or more years to get the benefit. So salespeople target senior citizens, who may not live long enough to qualify for the guarantee. And if you are lucky enough to get wise to how bad equity index annuities can be, you may lose between 10 and 15 percent in penalty fees for surrender if you try to get out. Regulators across the country are calling this an instance of fraud. As Clark says, the "just say no" rule applies here to these free meal seminars.

Clark doesn't do rebates. He believes that you shouldn't buy something just because it offers a rebate. After all, you may never see that money! The Wall Street Journal recently sent five people out to buy five different items at five different retailers. All the products purchased came with rebates. All five people correctly filled out the necessary paperwork to get the rebates. Yet only one person actually got money back. That's a mere 20 percent! And that was with all the rebates being processed properly by the consumer. Now, think about how often you lose the rebate paperwork or fill it out incorrectly. Rebates are like a legal con game, according to Clark. His executive producer, Christa, recently tried to get a rebate from her phone company when she got high-speed internet bundled with other services. She still hasn't received any money back. Even worse, she was eligible for three separate rebates when she bundled three services together. But she hasn't yet seen a single penny in rebate funds from her phone company. Meanwhile, Clark likes that OfficeMax has eliminated rebates and instead lowered prices. Staples, meanwhile, offers very easy online rebates similar to wholesalers like Costco and BJ's. That's a good start, but why don't they just go the OfficeMax route? Perhaps because they know that most people don't even bother applying for rebates. The moral of the story here is that you shouldn't buy something just because it offers a great rebate deal unless you are sure you are going to use the product.

Through the years, some con artists have gotten rich by selling people swamp land in Florida. They were really selling people a dream, and they found a way to get them to suspend belief and buy the land without seeing it. The new equivalent of swampland in Florida is desert land in Utah. The New York Times reports that charges will be filed against cons who sold parcels in Utah over the phone and Internet to people in the United States, Europe and Australia. The land was supposedly adjacent to a very metropolitan city. But when people would go to Utah to see their new homestead, they'd find that the city didn't even exist! Worse still, the land they'd purchased could not be developed.

This new twist on the old rip-off scheme started when cons learned about a Utah land rush and bought up property that couldn't be developed. Then they subdivided the land and sold five-acre spreads to rip people off. Clark has two simple rules to follow when buying land. First, never buy property without first seeing it. Second, make sure the land has water rights or it's going to be useless to you. This second caveat is especially important if you're buying in one of the mountain states. The New York Times article was cute in a way, according to Clark. They sent a reporter to find one of these "conveniently located" parcels in Utah. The reporter got to the location -- some 150 miles away from Brigham City -- and found an area where the only inhabitants were a snake, a beetle and a lot of large ants! Let the buyer beware!

Many Americans are behind on home mortgages and millions are now facing foreclosure in the next year or so. That situation creates the opportunity for a scam called "equity stripping." Have you ever seen those signs on the side of the road that say something along these lines: "In trouble with your home? Avoid foreclosure! Call now!!!" With equity stripping, you essentially sell your house to a company or individual who then pays the mortgage. They'll often let you stay in your house until you can get back in financial shape. You also sign a contract stating that you'll later be allowed to buy back your home for a nominal fee -- sometimes as low as $5,000. Here's where the real scam begins. The person or company who was "rescuing" you from foreclosure turns around and borrows up to the full amount of hard-earned equity that you put into your home. Then they disappear with the cash in their pocket and an eviction notice goes up on your door.

So if you are behind on your mortgage payments, you can't rely on anyone other than yourself. Keeping an open line of communication with your lender and wisely juggling your financial commitments are the keys to avoiding foreclosure. Go back to your lender and work out a payment plan that allows you to keep your home. If you've already approached your lender once and been turned down, get in touch with them again. Stay in constant contact. Finally, you have to re-prioritize your bills. Your mortgage should be at the top of your list for paying every month -- even if that means putting other commitments like your credit card on hold until later.

Here's another one of Clark's rip-off alerts! For years, AOL has made it difficult for people to get out of their contracts. To add financial insult to that injury, the internet service provider charges a whopping $24-$25 dollars for dialup. Who in the world would pay that when there is basic DSL available in many markets for $10-$15 dollars? Unfortunately, some 12 million people still do fork over their cash for dialup! Maybe it's because when you call up and try to drop AOL, the customer service representatives transfer you repeatedly and are argumentative. Then finally when you think you've gotten out of the contract, you're billed again next month. In fact, there was an internal conspiracy going on where financial incentives were given to employees to cheat the American people.

Now AOL has entered into a settlement where they've agreed to reform their business practices -- even though they didn't admit to any wrongdoing. Meanwhile, they're only paying a minimal fine and not one of their executives has been jailed for allowing the conspiracy to steal. If you're one of the people who has had money stolen by AOL after you cancelled the service, the settlement also allows you to get restitution from the company. Look for a link to the customer restitution form on Clarkhoward.com when AOL makes it available! Why is it that a big company can steal without any meaningful consequences? As Clark says, individuals who practice the kind of trickery AOL has for years would find themselves with some new jewelry -- handcuffs. Updating a related story, Sprint has recently been firing their customers for making too many customer service calls. Now New York State is trying to make Sprint waive the cancellation fee for those customers the carrier wants to drop. Clark fully believes the cancellation penalty should work both ways.

A lot of people hope to save money through the years and live on what they've amassed during retirement. In fact, people 65 and older are sitting on $15 trillion in cumulative assets. Sadly, however, many folks fall victim to supposed financial experts who swipe it from them in the golden years. These "experts" get into the lives and wallets of retirees and run off with the money. If you have elderly parents or are facing retirement yourself, don't fall for any of the seminars that offer free lunch or dinner along with complimentary advice on retirement or investing. These seminars are typically hosted by people with alphabet soup titles by their names that sound impressive. The New York Times ran an article that included some of these titles, such as certified elder planning specialist, registered financial gerontologist, certified retirement financial advisor and certified senior advisor. These are bogus credentials that can be obtained when you have some dough to pay for them. But it's hard to tell between the fake certifications and the real ones.

So Clark advises people against buying any investments or insurance from someone receiving a commission to sell to you. He's not opposed to commissioned sales people in general, but they definitely raise a red flag in the investment world. You should instead hire someone to advise you on investments on a fee-only basis, much like you would hire an accountant or a doctor for their learned opinion. As Clark says, there is no free lunch in investing. When somebody says they're going to give you free advice, they're picking both your pockets. The annuities market, where sales are up 30 percent in the last six years, is an area that is central to rip-offs.

Did you know that if a criminal gets your credit card number, they can show their "generosity" by donating money to charity using your credit card? Why are criminals doing this? This is happening because the charities will let the criminal know if the card is verified and still active. More importantly, it's a great way for criminals to test if the card will be reported stolen, according to a story Clark read in Newsday. Criminals can then sell your verified card number for three times the value of an unverified card! If someone steals an unverified number, it's worth $6; if it is verified, it sells for $18. The Red Cross has reported 700 fraudulent donations using stolen cards last month alone! Therefore, if you see a small unauthorized charity donation on your bill, be alert. Clark says the solution to this problem is so easy. The credit card companies should do what is done in Europe by inserting a smart chip in the card which requires a secret code. So even if someone steals your card, if they don’t know your code the card can’t be used. The result in Europe is that credit card fraud is nowhere near the problem it is in the United States. So why are we still using '60s technology to print out credit cards here? It seems like the banks would rather deal with the fraud that occurs and then clean up the mess after the fact, rather than spend the money proactively to get things done right in the first place.

Senior citizens are getting taken in big numbers when they go to "free" seminar lunches or dinners. There's a federal-state joint investigation right now seeking to expose the practice of sales people trying to pitch seniors all kinds of investments, trusts and other products that our elders don't need. Of all the complaints filed with state securities regulators, Dow Jones reports that a third of them come from senior citizens. Meanwhile, roughly a third of all enforcement actions taken by the states are against con artists who have been ripping off seniors. A lot of older people have an old-fashioned sense of values, so if someone offers them a meal they feel obligated to that person or company. Cons know this and prey on the elderly. The problem is that you have no idea what kind of investment fraud you might be getting pulled into if you go to one of these "free" meals. Clark advises people to call their parents and grandparents and alert them to this problem. That "free" lunch your elderly parent may be considering would be better served by you. Go take your parents and grandparents out for a meal and you'll help protect their retirement savings and fulfill their need for companionship at the same time!

The website set up by the credit reporting agency Experian is bogus. The name of their website sure makes it sound as though you can get your credit report for free, but that isn't the case. When you go to the site, you are automatically enrolled in a "free trial," for which you will pay $12.95. Don't ever pay to see your credit report at this site! Instead, go to the site that is sanctioned for viewing your credit report for free, really. It's annualcreditreport.com and you can get a report from each of the agencies for free.

About 18 months ago, Clark issued a warning on the show about the damaged cars from Katrina and Rita that would soon be flooding the market – no pun intended. Well, it’s happening. Con artists are selling “flood cars” from Texas, Mississippi, Alabama and other states that were affected by the hurricanes. Several auto insurers are refusing to crush these cars because they knew it would make them more money. So, because of weak title laws in most states, criminals have been “washing” the titles of these cars and putting them back on the market as if they’d never been involved in a flood. Close to half a million may be on dealer lots today. Washing the title basically means a title that would have had “SALVAGE” written on it is given a clean title with very little effort because the laws are so slack. So, it’s more important than ever to have a used car inspected by a certified mechanic. Before you buy a car, make sure you have it checked out. Clark thinks all of these cars should be crushed and never sold again.

Have you ever gotten a solicitation in the mail to join the “Who’s Who” list of some organization? If so, Clark hopes you’ve thrown it away immediately. Sure, it may be flattering. But it’s a hoax. There are dozens of these outfits that claim you have been named to these exclusive lists. But, there is a publication deadline you must meet in order to be included. That’s the hook. It’s not a scam because you must respond, but it is certainly a ripoff. And, it’s not just the book anymore. Now, you can get a “Plaque of Achievement” impressive-looking frames, leather bound volumes and more. Don’t let your ego get the better of you with this one. Toss these mailers right away. It’s all about making money off of you.

Do you know what “reloading” is? It’s something that happens to people who’ve gotten scammed already and agree to pay money to someone else to help them get their money back. The criminal usually poses as a detective or police officer, so people have faith that it’s for real. But it’s not. They’ll tell you they need some “seed money” to get started looking for your money. If someone calls and says something similar to this, tell that person never to call again and hang up. You are being targeted for a reload scam.

You’ve probably gotten a call or letter in the mail, asking for your financial help with a certain police or law enforcement organization. People want to help police, but it’s hard to tell if these outfits are legitimate. One group – known as the “Police Protective Fund”- was busted yesterday for illegally soliciting money from law-abiding citizens around the country. The PPF operated out of California and rented mail boxes where the money would arrive. It’s also important to remember that many of the organizations are raising money for union activities. Some people are not aware of that and think the money goes directly to police departments. So, if you get a phone call, don’t give right away. Instead, ask that the caller send you some literature about the organization. If it’s legit, they will happily send you the information. If it’s a sham, you’ll immediately hear a dial tone.

If you own your own company, you may have seen some e-mails that look like invoices from the Yellow Pages or other advertising mediums. Really, these are solicitations, but people think they’re real and they pay them. One California firm ripped people off in 26 states by sending them checks. The gotcha was that once the checks were cashed, the person automatically signed up to advertise with a group called “Yellow Pages, Inc.” The good news is that the company was discovered and ordered to pay restitution. If you got ripped off by this outfit, you must respond within 60 days to get your money back. So, find your paperwork and do what you can to get your money back. Also, be aware that Chase Bank is doing something similar. So, if you’re a customer beware.

Clark never thought he’d be talking about Paris Hilton. But the hotel heiress recently got swindled into a stock scam that involved a phony movie and lots of angry investors, according to the New York Post. Apparently, Hilton hooked up with two men who wanted to cast her in a few movies. The first was “Pledge This” and the other was “Guest List Only.” Well, the movies were never going to happen. Instead, the men shot a few scenes with Hilton, showed them to potential investors and got those people to invest about $300 million. It turned out that both men were convicted con artists and Hilton was an innocent bystander. It just goes to show that investing in a “hot” tip can come back to bite you.

Have you heard the latest story regarding the IRS? It’s a doozy. The IRS issued a “rulemaking,” or junior law giving tax prep companies permission to sell your information to any anyone they please. The IRS claimed the rule was all about protecting your privacy, but that’s simply not true. The IRS is telling people that by signing a piece of paper you are protecting your information, but in actuality you’re signing away your rights. People aren’t even going to notice that they’re giving away protection of their personal information. But the truth is that the IRS never permitted this before so using the form as protection is bogus. According to digging done by the Washington Post, this is all about tax preparers wanting a new revenue stream. The IRS apparently figured they’d help these tax prep companies since they all do business together. But this is an inexcusable move on the part of the IRS. Clark will keep you informed on how it all plays out.

Clark has heard quite a bit from listeners recently about “deferred rebates.” With these rebates, you supposedly buy items from retailers for a higher price than they’re worth and down the road you get a full refund. Typically, it’s online sellers who jack up prices and they go bust before people get their money. The worst example was a woman who had spent $27,000 on overpriced products only to learn the company went bust. Now, there is a new twist on it that ensnares business owners. According to the Boston Globe, these deferred rebate companies have been going to retailers in New England and asking for a portion of their sales in exchange for refunds down the road. One of the companies was “Cash Back America,” and it hooked retailers by claiming they could boost their profits. So, if you are a retailer and you sell a customer an item for $1,000. The retailer then pays Cash Back America $135 or 13 percent in exchange for the promise that the customer will get a full refund three years from now. But there are all kinds of rules and requirements that ultimately invalidate your rebate. One of them is keeping an electronic calendar telling you when you get your refund. How ridiculous is that? Well, people buy in because they want a deal. If it sounds too good to be true, it usually is.

Most people have a great deal of gratitude for our soldiers, regardless of how they feel about the war. But apparently some people think it is okay to take advantage of our servicemen and women. A story in the LA Times details a travesty going on when soldiers return home and need to buy a car. They come back from war with a lot of combat pay and take that money to a dealership. Some dealerships charge them interest rates of 20 percent or more and charge two or three times the fair market value of the car. Granted, this has been happening to regular citizens for years, but no one is getting hit harder than soldiers these days. They are young and sometimes don’t know that they should read the contract, so salespeople take advantage of them. Clark thinks this is disgusting and he wants you to warn service people you know.

Have you heard of "World Marketing Direct Selling, Inc?" It’s a bogus company that was convincing people to invest a minimum of $26,000 in its scheme. The outfit claimed that people would get back 10 percent of their money right away. Then, every month for their rest of their lives, people would get $300 a month. People were so excited about the opportunity that they signed up in droves. One couple in Connecticut invested their life savings of more than $600,000 into the ploy. It turned out to be a total pyramid scheme. The company claimed to offer nutritional and dietary supplements. But organizers were really just paying original “investors” who then convinced others to join. And, as pyramids do, it quickly collapses. The money is nowhere to be found and the SEC hasn’t been able to figure it out. A legitimate multi-level marketing company actually sells a product. It’s not just a way to recruit new people. And, seriously, how legitimate does a company sound that guarantees you $300 for the rest of your life?

The Los Angeles Times has been working on a series of stories about a new scam targeting the elderly that will shock you. Crooks have figured out that they can easily assume guardianship of aging people simply by telling a judge that they are no longer mentally stable. These people don't have to prove they are related, so they basically seek out elderly folks who are losing faculty and then go to court seeking guardianship. Family members have no idea that it's happening and have no recourse if it happens. Busy courts and judges don’t have time to make sure these crooks are above board, and there is no requirement to do so. So when the scamsters go to court seeking a ruling, it happens quickly and the victims don’t even know it happens. Clark doesn’t know how these people get leads on their victims. But it’s up to children of aging parents to look out for them and make sure they are not being victimized. It’s easy to steal the money and very hard to get it back. Several legal forms can protect them, as well. First is the “Durable Power of Attorney for Health Care,” which allows someone to handle your health care issues if you cannot speak or act on your own behalf. These are sometimes available for free. The other edict is a regular “Durable Power of Attorney,” which is a bit more difficult to get and requires the help of an attorney. It allows the appointed person to take care of someone’s finances, which would make it impossible for these crooks to step in and steal your parents’ assets. Having both of these in place is a great idea to ensure your parents are safe if you cannot always be there.

A marketing company based on Ohio known as the Annuity Service Center has been targeting seniors to scam them out of their money. What happens is the seniors go to their mailboxes and find something from the company. The notice tells the seniors that the annuity has reached the end of its service period and asks them to contact the company. It sounds very legitimate and convinces people to take action. But really, the organization is just trying to get leads to get into the seniors’ homes to sell them annuities. Sometimes the people don’t even own an annuity, but they call anyway. About 30,000 of these notices go out each day. Make sure you tell your parents that this scam is out there. Don’t let people into your home and cancel an appointment if you’ve made one. You don’t want to engage these people in any way.

The mortgage business is so confusing these days that people wind up in risky or inappropriate mortgages just because someone told them to. Freddie Mac learned that roughly one in five people who ended up in high-cost loans had no business being there. They would have been perfectly suitable for prime mortgages, meaning mortgages that are at market rate. They either didn’t comparison shop at all or they were swindled by someone telling them they didn’t qualify for one. Don’t take one person’s quote on a loan. Get at least three. Another problem is that people sign up for mortgages with pre-payment penalties. Lenders slip these in at the last minute when you’re at the closing table. But you have the right to see your closing documents – also known as the HUD1 statement - the day before closing. So, be sure to ask for it 24 hours in advance so you know what’s going on. If everything doesn’t look right to you, walk away.

How many times have you heard about or received an e-mail scam from someone in Nigeria? It’s known as one of the most pervasive e-mail crimes out there, yet people continue to get taken. The overall umbrella for these scams is known as a “419.” It’s basically a statute under the Nigerian legal code that means “fraud.” There are about a half a dozen scams coming out of this country, and they are all legitimate according to the country. An LA Times reporter went to Nigeria to find out more about these elusive yet prolific scams. He found Internet cafes set up for the purpose of scamming people, mostly Americans. They are actually called 419 cafes, and people who just want to surf the Internet are not allowed in. The people in the business see nothing wrong with what they are doing. In fact, they think it’s something certain types of Americans deserve if we’re willing to believe it. There is the “closest relative” scam, the “gorgeous person in trouble” scam, the “laundered money” scam, the “cheap oil” scam and of course the lottery scam. Nigerians in the business basically think Americans are greedy and willing to do anything for money. Don’t perpetuate that idea. If it sounds too good to be true, it probably is.

Are you familiar with Palm Beach County in Florida? If so, you know there is a lot of money in the area. Some convincing thieves figured they would try to tap into that money and recently set up an investment company in the area. They promised 125 percent on returns and convinced very wealthy people to invest tons of money in their company, known as the KL Group. According to the SEC, more than $200 million is already gone and it could go much higher. The fact that only 225 people invested means that each of those people gave more than $1 million each. Clearly it doesn’t matter what your position or educational background is. Greed is present in all levels of society. Schemes like this are known as “hedgefund ripoffs,” so watch out!

Have you heard of “debt buyers?” Clark likes to refer to them as scavenger collectors because what they do is wrong. These people go to a credit card company or bank and buy that organization’s outstanding debt. They then contact people who owe the debt and threaten people to pay it back. Some even steal the money directly from your bank account. It’s unbelievable criminal behavior and it’s going on everywhere. According to the FTC, complaints about these unsavory debt collectors have jumped from 13,000 to 60,000 this year. It’s the No. 1 consumer complaint to the FTC right now. They tell people that they owe money on debts that aren’t really theirs. They seek out people with the same name as the actual person who owes the money and scare them into paying money they don’t owe. Another tactic is to contact relatives of the deceased who owed money. They claim it’s your responsibility to pay the debt, which is not true. It’s obviously an industry that is out of control. When you get a call from these people, remember that you do not have to pay the debt. They are not allowed to threaten you verbally or physically, and they can’t use underhanded tactics to get money out of you. It’s illegal. Collectors operate under the law of the jungle and you have to reign them in. You must tell these people that they can’t contact you unless you allow it. But you have to put it in writing. And when they call you, record the message. That is the proof you need to show they have broken the law. And, never ever give a collector your bank account numbers or credit card numbers. It’s time for the federal government go after the scavenger collectors who have infested the collection industry. But until that happens, it’s up to you to put them in their place. Get a copy of Clark's drop dead letter here.

The newest scam these days involves ripoffs on currency exchanges. Clark had only heard about this a few times, so he didn’t think it was that bad. But according to the Dow Jones News Wires, these scams are growing out of control. They are set up as traditional boiler room cons, where scam artists are using telephones to cold call you. They claim that, due to rapid movements in currencies, there are billions to be made. They also say their proprietary software to help you make moves on the spread. But the only thing they can do successfully is help you lose your money. The average person getting conned loses $15,000. And they don’t have to get too many people to agree to it before they’re making big bucks. Hundreds of millions of dollars have been stolen in this scam, but the amount per person is so high that it’s not registering as widespread. It’s a tricky game, nonetheless. If you hear a pitch for currency or livestock or oil, basically any commodities trading, run away! And if you don’t understand a pitch, don’t get involved.

Every week, it seems Clark shares a story about the latest Ponzi scheme. The most popular kinds are Ponzi schemes and affinity scams. Churches and doctors are often targets of these schemes. And the latest newsworthy scam is unbelievable. One man conned $253 million out of about 7,000 people by getting them to believe a lie. Larry Osaki somehow convinced people that they would get 20 percent returns on the money they gave him every 90 days. So, what would they make money on? Latex gloves. It’s not a joke. People thought the next big break was in latex gloves. If your stocks are doing great, you’re going to earn 7 to 10 percent on your money each year at the most. That’s over the course of a year. One consolation is that Osaki is headed to prison, according to the Orlando Sentinel. Whenever someone promises you more than the normal return on your money, run the other way.

One in seven people move every year, and most have some kind of horror story to tell. Unfortunately, the moving industry is being infiltrated by organized crime. There are two types of moves: state-to-state moves, and local moves (regulated specifically by the state or not at all). There is a loophole allowing criminal activity in the laws written by Congress for state-to-state moves. They either try to extort money from you, steal your possessions, or a combination of the two. The New York Times reported that two consumers who were scammed set up a group, Citimove, to help people learn about moving scams. The scams (both state-to-state and local) work by the movers quoting an original price, picking your things up, and then calling weeks later with a ransom to get your possessions back. Clark stresses that moving preparations need extreme care and caution. Movingscam.com is a good website to learn to protect yourself. Moving.org will help choose a certified mover for a state-to-state move. Purchase insurance coverage from your movers because they are not responsible for anything stolen or lost without insurance.

The Washington Post reports that marketers are now targeting kids with all kinds of sweepstakes and shopping spree offers. Examples include Kelloggs’, which is trying to hook kids by offering free cell phones with pre-paid minutes; Barbie has a shopping spree offer for girls ages 6 to 13; Campbell’s Soup is offering a weeklong vacation on a private island with all of the Campbell’s soups and SpaghettiOs kids can eat. Parents need to explain what is going on here to their kids. They are getting these offers because companies are using their information. Teach your kids about the consequences with this example.

The TV is full of ads for debt management companies these days. And one of the companies that is notorious for ripping people off is Ameridebt, which had constant ads on television about “helping people.” Well, it turns out that the founder stole $70 million from people who were in repayment plans with creditors. He used the money to live a very elegant lifestyle, to support his wife and girlfriend and to buy all kinds of lavish toys. Included in the gifts were a $15,000 mattress and $8,000 sheets for his girlfriend. All the while, he was using the money of people in desperate financial trouble who were trying to pay off their bills. If you’re really in trouble, please don’t go to one of these organizations. They are criminals. You want to talk to legitimate credit counseling services that are a part of the National Foundation for Credit Counseling. Check out your local service at nfcc.org.

Over the past four years, Clark has gotten lots of phone calls about phony cashier’s check scams. But over the past four months, those calls have been replaced by questions about a new counterfeit scam that has taken its place. Starting about Thanksgiving of last year, calls started coming into the show about phony money orders. Basically, criminals are using phony money orders to buy items through classified ads, on eBay and from retailers, and the phony forms look perfect. The New York Times published a comparison graphic recently that showed a legitimate USPS money order next to a fake one and they looked exactly the same. The reason cashier’s checks and money orders are so popular with criminals is that they haven’t changed much over recent decades. We need some type of electronic verification with these services before more people get taken.

About six weeks ago, Clark got a call from a listener who was very upset about the application she had to fill out at Blockbuster video to get a membership. Clark understood why the company would want enough information on customers in case something hinky happened with its movies. But what if there is a questionable employee who gets a hold of that information? That is exactly what happened. An employee took a bunch of applications and opened fraudulent accounts with 65 customers’ names. He bought electronics, clothes and even a Mercedes. He’s been indicted by a grand jury, but it makes one wonder why Blockbuster applications require social security numbers and other financial information. The company had very little to say about the matter, and Clark wants to know what they’re planning to do. These breeches in security are happening over and over again and it’s not a very difficult scam to pull off. In the case of Choicepoint, the company was so eager to sell our information that it didn’t screen people who bought the information. The screening process needs to be much more stringent.

You've probably moved into a new place and had to set up electrical, phone and TV service, among other things. These days many more people are choosing satellite TV for their paid television service. But what if you set up your satellite service and, in addition to the satellite bill, you received a cable bill? Sound strange? Well, it’s happening in certain areas of the country and, even worse, it’s completely legal. Hundreds of people have unknowingly agreed to pay for cable TV when they sign their rental contracts, according to the New York Times. The cable companies are having trouble getting new subscribers because nearly everyone who wants pay television already has it. So, cable companies are negotiating deals with apartment managers who then attach a “pass through" cable charge in tenants' leases. The Times called what’s happening “Pay Twice TV.” So, you need to check your lease to find out what you're paying for. About 85 percent of American households pay for either satellite or cable. That means 15 percent of people have “rabbit ears” or no television at all. It’s also happening in condominium complexes, which could be a potentially good thing for homeowners. Bulk deals can save owners a great deal of money. But if you're a renter, you must read your lease!

Years ago, Clark got several calls about a sales pitch being offered by car dealerships, hot tub salesmen and other companies selling high ticket items. Well, apparently it’s back. What happens is that consumers are told to pay more than the item is worth when they purchase it. Then, when the company is on its feet, two or three years later, you get all that money back. The catch is that the company goes under and consumers are out tons. People are again getting scammed by this pitch and Clark wants to warn you. The companies involved have made about $160 million off people already, so watch out.

If you were a teen and an adult back in the 60s and 70s, you may have heard a joke about the swamp selling scams going on in Florida. Future retirees bought property that was basically worthless because it was on swampland. It became such a well known scam that it didn’t work anymore. But old has become new, and these con artists are back again to prey on another generation. Floridians are reporting a huge number of ripoff sales of swampland, especially in North Florida. Some of the land being sold is actually under water. The problem is that there is nothing illegal about con artists selling swampland. It’s come up again and again on eBay, and eBay is not taking any responsibility in the manner. So, if you see an ad for land in Florida on eBay or in the newspaper, assume it’s a scam. And never buy property without looking at it.

Have you seen the crazy guy in the television commercials who jumps up and down in front of the White House and says he knows how you can get FREE MONEY!! from the government. To get the free money, all you have to do is buy his book. His name is Mathew Lesko, and his promise is simply not true. Clark has always said his pitch was not true, but now a government agency has agreed. The New York Consumer Board recently said, “The author of ‘Free Money to Pay Your Bills’ admits there is no money to pay your bills.” Lesko’s latest claim is that the government has $350 billion hidden that people can use to pay off their debts. The state of New York has come out and said Lesko’s claims are not true. Clark wants you to save your money, not spend it on a book that is not true.

As you may know, there are fake universities operating around the U.S. that will issue you a phony degree if you send them enough money. A bachelor’s degree may cost you $200 or $300, while a doctoral degree costs up to $1,000. According to NBC, Pennsylvania’s Attorney General wanted to see how far he could take the hoax. So, he sent in his cat’s resume. That’s right, his cat Colby apparently earned a master’s degree in Business Administration from Trinity Southern University. The school is supposedly in the Dallas suburb of Plano. Along with the diploma, Colby got a transcript of all the classes he supposedly took to receive his 3.8 GPA. You might find this funny. But if you’re an employer, it can be very damaging. People are “buying” degrees – even doctoral degrees – and passing them off as real because employers don’t check as intently as they should. Reference checking is more important than ever because it’s so easy to buy your education without doing any work.

For more than a year, Clark has gotten calls from people who have been taken in an international scam involving phony cashier’s checks. The very advanced printers on the market today allow people to print off phony cashier’s checks with no questions. But word is spreading about counterfeit cashier’s checks and people are less likely to get taken. To that end, crooks have come up with a new scam that people know less about. It involves stolen or counterfeit money orders, according to the U.S. Postal Service. Few people use money orders these days. Usually, consumers buy money orders when they don’t have a bank account or they want a guarantee that the money is good. The problem is that the majority of these money orders are fraudulent. If you own a business and you take a money order, please remember that it could be bogus. eBay sellers should also be concerned about money orders. And, if you’re selling a car, don’t take a money order. It’s sad because a money order used to mean the payment was a sure thing. Today, it’s likely that the order is a pure fake.

Clark read an article recently about the highest grossing musicians in North America, and it’s mind blowing what they make. In 2004, Prince was the top earning musical act; Phil Collins was No. 2; Sting earned the third spot; Bette Middler was No. 4; and Metallica was No. 5. Bruce Springsteen took in $116 million; the Rolling Stones - $121 million; Celine Dion - $81 million. The figures are staggering. And tickets to these acts are usually outrageously expensive. Unfortunately, many people think buying tickets from a scalper or off the Internet is the alternative. But there are tons of counterfeit tickets out there, and they are very good, according to the New York Times. Tickets usually have some form of bar coding or hologram that is scanned at the door. But counterfeiters make copies of the bar codes and sell the tickets. So, the first person to get to the event gets in and everyone else who arrives after with the same code gets turned away. It’s a terrible problem. So, be careful out there and make sure it’s money you can afford to lose.

Clark has trashed Simon Malls recently because of its gift card program. The company is the only brand name mall in the country and it has started a gift card business. Unfortunately, Simon charges money to buy the Visa-branded gift card and deducts money from the card if people don’t use them within 180 days. In several states, this is illegal. But Simon Malls continues to sell the cards. The company even went to the federal government to get the states off its back. Massachusetts, Connecticut and New Hampshire all have strict gift card rules and they have gone to court to stop Simon. Clark doesn’t understand why the company continues to cheat people and break the law (in some states.) All its gotten them is negative publicity.

There are a lot of problems with unauthorized electronic drafts coming out of peoples’ bank accounts. According to the National Automated Clearinghouse Association, the amount of fraud has gone up 68 percent in the past two years. It’s due in part to the fact that banks have established no security controls to prevent improper drafts. Criminals have figured this out and they are stealing money right out of accounts. Yet, only 7 percent of people noticed when money was stolen out of their bank. The worse part is that under federal law, you forfeit your money if you don’t file a dispute or claim within 60 days. That period can slip by without the customer ever knowing. If you do notice that the money has been drafted, you must report it immediately. It’s not fair, but the bank has only 10 days to investigate the claim if the purchase occurred on a post it. So, get on it once you see an error.

Do you work for a company that cares about you? The people who employ you really care about how you are treated. Fortune Magazine thinks it’s important to point out these companies, so the publication lists the “Top 100 Companies to Work For” every year. Every one of the companies says it puts employees first. The company that got top honors this year, Wegman supermarket chains, even has a motto that states, “Employees first; Customers second.” It’s enlightened self interest. The better you treat your employers the better they’ll treat customers, and everyone makes money. More companies need to abide by this motto.

Have you seen the crazy guy in the television commercials who jumps up and down in front of the White House and says he knows how you can get FREE MONEY!! from the government. To get the free money, all you have to do is buy his book. His name is Mathew Lesko, and his promise is simply not true. Clark has always said his pitch was not true, but now a government agency has agreed. The New York Consumer Board recently said, “The author of ‘Free Money to Pay Your Bills’ admits there is no money to pay your bills.” Lesko’s latest claim is that the government has $350 billion hidden that people can use to pay off their debts. The state of New York has come out and said Lesko’s claims are not true. Clark wants you to save your money, not spend it on a book that is not true.

For more than a year, Clark has gotten calls from people who have been taken in an international scam involving phony cashier’s checks. The very advanced printers on the market today allow people to print off phony cashier’s checks with no questions. But word is spreading about counterfeit cashier’s checks and people are less likely to get taken. To that end, crooks have come up with a new scam that people know less about. It involves stolen or counterfeit money orders, according to the U.S. Postal Service. Few people use money orders these days. Usually, consumers buy money orders when they don’t have a bank account or they want a guarantee that the money is good. The problem is that the majority of these money orders are fraudulent. If you own a business and you take a money order, please remember that it could be bogus. eBay sellers should also be concerned about money orders. And, if you’re selling a car, don’t take a money order. It’s sad because a money order used to mean the payment was a sure thing. Today, it’s likely that the order is a pure fake.

You cannot let your guard down regarding questionable investments, even if someone you know or admire is doing it. You may know someone who invested in a “fund” that guaranteed them a 20 percent return. You figure you know the person, so of course it’s legitimate. But in reality it’s a scam known as affinity fraud. One recent story involved an affinity scam in L.A., where people were invited to a Ritz Carlton, offered lobster and unlimited drinks, and the opportunity for a guaranteed return on their investment. They were promised 20 percent on their investment in the first 30 days, and 10 percent for every month after that. The scam involved something known as “factoring,” which has been in the news quite a bit lately. The attendees invested millions and they will soon learn that they’ve lost it all. Doctors are some of the most frequent victims because they believe their buddies who have also gotten involved. What you need to remember is that if someone says they know of a sure thing that will give you an outstanding return, you will surely get taken. The average return on investments in the stock market is about six percent, but the market has a lot of risk. No one can give you a guaranteed return, so don’t believe it.

E-mail phishing scams are growing out of control these days, and they seem to be getting even more evil. The scams come from all kinds of phony “companies” that pose as AOL, eBay, Citibank and others. They usually tell you there has been a glitch in the system and they need you to respond to the e-mail to verify your information. The e-mails look so real that tons of people have gotten taken because the criminals steal your information. But now, you don’t even have to respond to the e-mails to get scammed. The latest phishing scam loads a program on your computer that steals information just by opening the e-mail. It’s called a “Trojan Horse” virus, and it causes a mirror site to show up and replace the legitimate site when you call it up. People enter their information, thinking it is the legimitate site, and the crooks steal the information and more. So, anytime you go to the Web site of your bank or other site and you see the address suddenly switch to another site, do not enter any information. You have the Trojan Horse virus. It doesn’t just happen in Explorer, either. The alternative browsers, including Opera and Firefox, also allow the program to enter your computer. Clark has been recommending that you switch browsers because Explorer has become a hotbed of viruses. But this one penetrates any browser, so be careful. To repair a PC that has been affected or to prevent future attacks, click here.

Clark wants to tell you about a scam on eBay, whereby criminals take over a seller’s identity and start ripping people off. These people basically stalk sellers who have been on the site for a while and have good ratings. They then create an imposter account and pretend to have things for sale for which they collect money. The problem is that there is no merchandise and the person takes off with your money. One way to know that a legitimate seller’s identity has been swiped is if he or she tries to get you to complete the sale outside of eBay. If that happens, run the other way immediately and never send any money!

You may have heard of “pump-and-dump” schemes. What happens is people buy up shares in a little-known company and send out e-mails and letters, touting the stock. It boosts the price of the stock artificially and gets people buying stock. When enough people get on board, and the price is elevated, the original investors cash out and get out. The bottom then falls out from under those people still in the stock. Some company owners and CEOs don’t even know it’s happening to their companies. The price of the company stock will rise and then fall suddenly. Anytime you are offered an opportunity to invest, it’s your responsibility to do your homework and get to know the company. If you don’t have time to do that, stay away!

Clark feels strongly that eBay, the online auction site, needs to take more action to combat the fraud on its site. He thinks that because eBay is the “auction house,” the company has a duty to prevent fraud. But eBay says it is not involved in the transaction so it has no duty. Christa, Clark’s executive producer, feels the same way eBay does. She thinks it’s impossible for eBay to police everyone and everything on its site. Well, now the courts want to weigh in on the matter because of an investigation sparked by the jewelry company Tiffany. Tiffany was worried about fakes floating around on eBay, so the company conducted its own investigation. Turns out that, during the investigation, eBay posted 186 pieces of Tiffany jewelry and three quarters of it was phony. Tiffany tried contacting eBay for five months until the company finally pulled the fake merchandise. There were a total of 19,000 fake Tiffany items on eBay, according to the LA Times. Clark believes eBay is doing a pathetic job preventing fraud and counterfeiters from taking over its site. There is no way for consumers to know when they’re buying a legitimate product. So, until the courts come up with a decision and eBay steps up to the plate, you have to be your own advocate for protection. It’s buyer beware and you need to check out people you’re selling to and buying from. In the meantime, the company should consider a bonded seller policy, so that all sellers must go through a screening process. There needs to be more buyer protection on the site if it’s going to maintain consumers’ faith in the company.

Clark has been on the warpath against phony credit counseling services for years. These companies steal millions of dollars from financially desperate customers, pretending to be “counselors.” There are tons of these companies out there. You may have seen their solicitations on late night television, promising to help you get back on your feet. One of largest of the phonies was Ameridebt, a company that pretended to be a non-profit service helping customers pay off debt. In actuality, the company was transferring customers’ money to a “for profit” subsidiary. Ameridebt has now filed for Chapter 11 bankruptcy, and will be out of business, thank goodness. Now, not everyone in this business is crooked. There are legitimate ways to get help through the NFCC, which has legitimate credit counseling centers all over the country. Just go to nfcc.org, you can find decent help. Or call 1-800-388-2227

Clark has received a number of calls from business owners about a scam involving a “relay operator.” Clark wasn’t familiar with the complaints until he read a story about it on msn.com. Apparently, business owners get calls from these relay operators, who help deaf people make calls over the Internet. People who are deaf type messages into boxes on their computer and the operator reads that message to the person on the other end. But criminal rings are hijacking these systems and are ordering products from businesses using relay operators. They have the merchandise shipped using a phony credit card numbers. When the victim realizes the card was stolen, they dispute the charge and the merchant ends up with no money. Clark has had the call three times already. So, if you get a call through a relay operator, have your guard up. Until a new system is established, and legitimate callers are given a code, make sure you get all of the information before sending the goods.

Clark has talked in the past about phony invention groups. There was even a law passed in 1999 - the American Inventors’ Protection Act – to safeguard consumers against these fraudulent companies. But apparently, they are back. The Patent & Trademark Office has issued a warning about these groups, and you can find it at uspto.gov. The scams usually work in three steps. At first, they send you a free information kit. Then, they hit you up for $500 to $700 to do some “preliminary research” into the viability of your idea. After a few weeks, they send you another thicker package, saying your idea is a hit and they need more money to start a marketing campaign. This time, they hit you up for $5,000 to $10,000. Don’t allow yourself to be taken. So, how do you find legitimate groups? For general information, howstuffworks.com is a good starting point. Another one is inventored.org, which is an informational site for inventors. Another easy one is asktheinvenstors.org. The site tries to sell you things, as well, but you don’t have to buy. Then there is the International Federation for Inventors Association. They even have information specifically for women because women tend to experience some discrimination from men in the inventing world. It’s at invention-ifia.ch. So, stay out of harm’s way. When you see those ads on late night TV, steer clear.

A bomb was dropped recently during this election year, when The General Accounting Office reported that about two-thirds of American corporations did not pay taxes from 1996 to 2000. That was a time when companies made some of the greatest profits ever. Many consumers are screaming about this because taxpayers pay 90 percent of all taxes. Corporations pay only about seven cents on every dollar. So, this is going to be a huge elections issue. The wider issue is if a corporation pays tax, it’s eventually passed on to you and me anyway. So, you may think that if a corporation is taxed, it removes the tax burden from you. But in reality it ends up as a cost to you. Clark thinks we should not tax corporations. If you own a business and you are paying your taxes, you are being punished for everyone else’s wrongdoing. It’s too small a percentage of the overall pie, and it creates issues of competition with other countries. Yes, the tax evaders and avoiders should be called out on the carpet and should go to jail. But overall, taxing companies is not effective in Clark’s opinion.

Car theft has been a growing problem across the United States. These days, cars are stolen, stripped and resold to legitimate parts shops within hours. Many times, they are taken across the Mexican border and resold with ease. For the most part, these are professional theft rings and they steal over and over without ever getting caught. So, what can we do about it? According to the Arizona Republic, the authorities are fighting back by planting dummy cars in areas that have been car theft hot spots. They put hidden cameras and GPS systems in the car. Apartment complexes and church parking lots are favorites of thieves. Arizona has the highest per capita car theft rate in the country, so they had to think outside the box. And it’s working. The other thing you can do is get a “LoJack,” the car tracking device. These have proven to be very successful in recovering stolen cars. So, there are ways to stop this crime.

Clark often reports on ripoffs going on in the consumer world. Today, he has a Top 10 list of scams, schemes and scandals, provided by the state regulators who watch over financial analysts and brokers. Drum roll please…. The No. 10 scam is variable annuities. If you don’t know what these are and you don’t have any, good. If you do, you don’t want to put any more money into these plans. They have massive commissions and are absolutely horrible for your wallet. No. 9 are scandalous mutual fund companies. No. 8 is Internet fraud. No. 7 are “high yield investment” scams. Some that Clark has received calls on involve exotic overseas investments that are a complete scam. Insurance agents who sell people bogus investments come in at No. 6. Most insurance agents are honest, but a number of them have been involved in very scandalous affairs. No. 5 are church ripoffs. Just because someone seems religious does not mean that person is on the up and up. At No. 4, phony brokers. Just because someone says something is going to be a great investment doesn’t mean it will. Promissory notes – or fake CDs – are No. 3. These are promises that someone will pay you later if you give them money. But there is no guarantee, and it’s not safe. No. 2 is any kind of scam against seniors. If you’re not involved in your parents’ finances, be nosy! And, the No. 1 scam in the U.S. involving your wallet are Ponzi schemes. These are schemes where criminals recruit people to pay back other people who have invested, and then you have to recruit someone once you’re in. Eventually, these collapse because there are no more people willing to “invest.” There a lots of people who will sell you sizzle, but that’s all it is.

Do you get frequent visits and calls from debt collectors? If you owe money for bills or other debts, you should pay them without question. But sometimes collectors behave inappropriately and even illegally to get your money. If a collector is worried you’re about to file for bankruptcy, some may even try to get money out of you before you do file. But there are things they cannot do! First of all, if you tell them not to contact you, they cannot contact you again. You must send them a drop dead letter telling them you do not want to be contacted anymore. For a copy, click here. They can’t threaten you or cause you physical harm. They can’t pretend that they are attorneys, and they have to send you a letter within five days of first contacting you. It must inform you what you owe and for whom they are collecting it. If you think it’s not valid, you have to write them back and tell them. You also have the right to ask questions and refuse to pay until they provide verification of the debt. Many people don’t know their rights – or don’t know they have rights - when they are contacted by a collector. But you have rights. Get to know them!

Clark wants you to be on the lookout for an old scam that is reappearing in mailboxes again. What happens first is you get a check in your mailbox for usually between $1,000 and $5,000. The check says that you are eligible for an instant loan with no approval required. You deposit that check, thinking it’s harmless. But what really has happened is you unknowingly sign up for a loan with an interest rate of up to 30 percent. If you’re a little short of cash at the moment, you may buy into this deal thinking it’s safe. But almost any other method beats borrowing money this way. Don’t do it. One of the offers appears to come from a well-respected bank in Hong Kong. They send out a check for $6,000. If you borrow it you pay 29.8 percent interest on the loan. The checks seem like they are there to help you out, but there are many ways to access money more affordably. When you see these in your mailbox, what should you do? First shred them and then throw them in the trash. If someone happens to pick up that check and tries to act like you, you’re in even more trouble. So, destroy these things immediately.

For many years, Clark has warned us about the phony credit counseling outfits that claim they will help wipe out your debt in a snap. The amazing thing is that one out of every 11 families in the country calls these phony companies because they are so far in debt. The sad thing is that most of the companies pretending to help you are really crooks. They use their non-profit status to try and convince people they are legit. But the IRS grants non-profit status to just about anyone; it’s an honor system. So, these companies set up shop and start stealing money from anyone and everyone. The IRS has taken away the non-profit status of 50 of these agencies so far, but that is just a drop in the bucket. Clark thinks these people should go to jail for stealing from people who are in such dire straits. The punishment should be much more severe. The encouraging news is that the Senate is in the midst hearings about this very subject. The Senate’s governmental affairs committee is hearing from former employees of these companies. They admitted they used fake names and ripped off customers whenever possible without providing any counseling. These companies get people to pay them a couple thousand dollars up front and then they run off with your money. Clark is glad the Senate is finally looking into this problem, and we’ll keep you posted on what happens. In the meantime, if you’re in over your head, you want to sit down with an expert at a real credit counseling service. If it’s a legitimate organization, the employees will go over all of your debts with you and try to get you on a budget to control your finances. If you’re past that point, they will negotiate with creditors on how much you can pay them and they’ll put you into a legitimate debt management plan. The exchange of money is maybe $50 at the most, and that’s only if you are put on a payment plan. The phony companies don’t offer any counseling or budget help at all, and they charge you thousands. The Web site to find legitimate companies is nfcc.org. It’s possible that there are legitimate companies out there that are not NFCC members, but be careful.

Clark has heard a lot of bad press about these real estate investing seminars that try to convince people to buy some piece of property that will make them rich. They get you to come to the “free” seminar at a hotel, and then they try to push a very expensive real estate class on you. The classes usually cost $1,500 to $2,000 and are held over two or three days at another hotel. Don’t get him wrong - Clark loves real estate And he’s bought a number of foreclosures and distressed properties. He believes there is potential for wealth over time. But a lot of these hotel road show presentations make it seem as though you will become a real estate mogul in days. The Washington Post assigned a reporter to go to these seminars for an entire year. She then wrote about the number of people who got rich through these presentations. How many do you think got rich? Zero! Most people told the reporter these seminars were a total waste of time. Others thought they were very uplifting and motivating, but they still didn’t make any money. You’re not going to be able to go to a hotel ballroom for two or three days and become an instant expert in how to invest in real estate. One of the biggest companies running these operations filed for Chapter 7 bankruptcy a few years ago. So, stay away from these rackets.

---

What about foreclosures? Even though there has been a big run up in real estate values, foreclosures are still extremely common. Foreclosures are a way for you to acquire a personal piece of property at distressed prices, and often you can find a needle in a haystack. But you have to know how best to buy. The process of foreclosure works differently in different states. But you will hear a lot about people buying property “pre-foreclosure.” This means the buyer swoops in before a home goes through the foreclosure process and buys a house. Stay away from this unless you are a very experienced real estate buyer. You want to buy a property after it’s been foreclosed on. These are called REOs or “real estate owned” foreclosures, and they end up in all kinds of places including HUD, the Department of Veteran’s Affairs, credit unions and even banks. You can also find a real estate agent that specializes in foreclosed real estate. So, check out those resources before buying.

If you don’t use electronic bill pay, you probably mail your checks using your home mailbox. You put the check in the box, raise the red flag and a few weeks later you get a notice from your credit card company saying it hasn’t been paid. Did it get lost in the mail? Maybe. But more likely a criminal stole your mail and has taken the check with your personal information and account information. One of the easier low-tech crimes out there is mailbox theft. It can happen in an instant and the letter carrier is none the wiser. The criminals can very easily alter the check and cash it. You stand a good chance of losing that money if you are a business customer. Business owners are held to a higher standard to take care of those matters. If the payment if for a credit card, it’s even worse. The criminal can start using your credit card almost immediately by ordering a new card and putting a new magnetic strip on it. So, what should you do? Follow the advice of the Federal Communications Commission. When you are mailing things, put the items in a secure mailbox. Do not put them in an open box and raise the red flag. If you choose to buy checks from the bank, have them delivered to your bank branch, not to your mailbox. Checks that fall into the wrong hands can be a financial and possibly criminal disaster for you.

For years, Clark has taken calls from people who have fallen victim to cram charges. These are phony charges applied to phone bills – usually businesses – that go undetected because bills are so hard to understand. Well, it turns out that the Gambino crime family has been behind this scam, according to the New York Times. Only in America could the mob get involved with local phone companies and add phony charges to your bill. The phone industry claims that FCC regulations require them to provide billing services for everyone who wants a phone in their home or business. But the local phone company has taken a big cut of this cramming action. Law enforcement claims that about a quarter of a billion dollars has been stolen. So, how did it work? In some cases, the mob sent out almost exact replicas of phone bills from made-up phone companies. For instance, the legitimate company may be Southwestern Bell. The phony bill, which looked almost identical, came from “Southwestern Bill,” and claimed that the company needed immediate payment or their phone service would be cut off. People got scared and paid. About a half a dozen people have been arrested. But the majority of the money was siphoned through the local phone companies, which allowed the charges to go through. So, you need to read your bill each month and challenge charges that don’t look right to you. If you see “unregulated charges,” it’s a red flag that could indicate you are being charged unnecessarily. Don’t just accept what they send you.

A big report out today details even more embarrassing and corrupt behavior on the part of the nation’s brokerage houses. The SEC reports that 13 of the 15 largest brokerage houses in the country were taking secret payments from mutual fund companies in a practice commonly known as “pay to play.” These mutual fund companies were desperate to get stockbrokers to recommend their specific plans, so they were paying the parent companies “under the table.” The parent company would then put out notices, telling individual stockbrokers to recommend those funds. The brokers would then get all kinds of bonuses and trips that could also be considered illegal. The Wall Street Journal recently took the funds that were being recommended and compared them to typical mutual funds. And wouldn’t you know that the funds brokers were recommending stunk! So, how do we end up in that situation? We find it either boring or intimidating to make these decisions ourselves. So, we leave it up to someone else. You need to give yourself more credit and do some research on your own. Then you can choose the funds you want because you are informed. One way to get more informed is to check out the "Investing 101" class on the L.A. Times Web site. It's a great help.