1. Numerous fake check scams occur each year. Information and videos are available at www.fakechecks.org.
Write up a report on what you discovered at this site. Throughout the years millions of people are scammed from fake checks. “73% of banks reported check fraud losses in 2010, totaling approximately $893 million”(StopCheckFraud.com). Fake check scams may include: overpayment scam, lottery scam, and work from home scams. All of these checks are fraudulent and cause people to lose thousands of dollars. “760,955 cases of check fraud were reported in 2008 with actual losses estimated at $1.024 billion (2009 ABA study), 561,306 cases and $969 million in 2005 (2006 ABA study), and 616,469 cases and $677 million in 2002 (2003 ABA study) (StopCheckFraud.com).
People should be aware of fake check scams. For example, you should never accept or deposit a check for someone you don’t know. Actually, last year I was the victim of check fraud. A teller allowed two different people to cash two fake checks into our account. These checks were cashed without our knowledge and we did not even know the people. Eventually, they found that the teller had something to do with cashing the fake checks. According to (StopCheckFraud.com) “60% of all fraud incidents within a business involve employees”. This issue was very stressful but in the end the teller was fired.
Watching this video should you the way people can be easily scammed. I also discovered how people will try to manipulate others to do fraudulent things. For instance, telling someone that they won the lottery. How can you win if you never played the lottery? After, watching the victims interviews I determined they you cannot trust people because you can lose a...
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...a chapter 7 a person may not have the money to pay because of loss of income, divorce, or any other hardship. In a Chapter 13 the person has funds to pay but they are trying to extinguish certain debts. The regular payments in Chapter 13 money is distributes money to creditors. Chapter 7 payments do not force you to pay money on your debts. However, both Chapter7 and Chapter 13 may not exclude all debts. Some companies may try to get what you owe to the company. For instance, Billy filed a Chapter 7 after filing for divorce. Billy thought that he would not need to pay or require all of the equipment he financed. Billy found out that the company wanted him to return all the equipment.
Works Cited
http://www.stopcheckfraud.com/statistics.html http://www.usatoday.com/story/news/nation/2014/02/21/detroit-bankruptcy-exit-plan/5679189/ http://www.ftc.gov/about-ftc
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