Frequently Asked Questions (FAQs)
Here are answers to some common questions seniors and their families have about consumer protection.
1. Is it safe to pay for things online with my credit card?
Generally, yes, it is safe to use your credit card on secure and reputable websites. Federal law limits your liability for fraudulent credit card charges to $50, and most major card issuers have a zero-liability policy. This makes credit cards much safer for online shopping than debit cards, which draw money directly from your bank account. To ensure a site is secure, look for “https” at the beginning of the web address and a small padlock icon in the browser’s address bar.
2. Someone called claiming to be from Social Security and said my number was suspended. Is this real?
No, this is a very common and aggressive scam. The Social Security Administration (SSA) will never call you out of the blue to threaten you or demand immediate payment. They will not suspend your Social Security number. The SSA typically communicates with you through U.S. mail. If you receive a suspicious call like this, hang up immediately. Do not give them any personal information. You can report the scam call to the SSA’s Office of the Inspector General.
3. What’s the difference between the FTC and the CFPB?
Think of them as two different kinds of consumer police. The Federal Trade Commission (FTC) has a very broad mission to protect consumers from all sorts of unfair and deceptive practices, from false advertising and robocalls to identity theft and online scams. The Consumer Financial Protection Bureau (CFPB) has a more specific focus: it regulates financial products and services. You would go to the CFPB for problems with your bank, credit card company, mortgage lender, student loan servicer, or a debt collector.
4. I signed up for the Do Not Call Registry, but I still get unwanted calls. Why?
The Do Not Call Registry is a useful tool, but it has limitations. It effectively stops calls from legitimate telemarketing companies that follow the law. However, it does not stop calls from scammers and fraudulent operations, as they have no intention of complying with the law. The registry also does not block calls from political organizations, charities, or companies with which you have an existing business relationship. It’s still worthwhile to be on the registry, but you should also use call-blocking features on your phone and report illegal calls to the FTC.
5. A debt collector says I owe money for a very old debt. Do I have to pay it?
This is a complex situation. Every state has a law called a “statute of limitations,” which sets a time limit on how long a creditor or collector can sue you to collect a debt. These time limits vary by state and type of debt. If a debt is “time-barred” (past the statute of limitations), a collector cannot win a lawsuit against you for it. However, they may still try to contact you to get you to pay. Be very careful: in some states, making even a small payment on a time-barred debt can restart the clock on the statute of limitations. Before you pay or promise to pay anything on an old debt, it is highly advisable to seek legal help to understand your specific rights and obligations.
