Stimulus Frauds And Scams Details

As the economic financial crisis deepens, the frauds and scams widen.

Watch out for these potential frauds and scams that are related to the economic stimulus packages.

Unemployment And Job Loss Scam Details

With unemployment rates at an all-time high, con artists are coming out of the woodwork in career and job-hunting industries. Common scams include:
•misrepresentation of jobs available
•request for social security number as part of the job application process
•job training programs that don’t produce results
•upfront fees paid for job placement
•unsolicited calls or e-mails offering work

Loan Modification Scam Details

Companies are popping up all across the country, promising distressed homeowners that they can help them modify their home loans…for a fee, of course. In many cases, they advise that the homeowner come up with the fee by foregoing a mortgage payment. The best way to handle the details of a loan modification are to call your lender directly and/or look for a nonprofit agency in your town or city that has set up a foreclosure hotline or help center.

IRS Stimulus Payment Scam Details

As part of the Bush economic stimulus package that was introduced in May 2008, $600 economic stimulus checks were sent to American. The Internal Revenue Service (IRS) warned at the time that people were receiving phone calls and e-mails from callers and senders impersonating IRS employees. The scam involved getting unsuspecting prey to reveal their social security numbers and bank account information in order for the IRS to allegedly process the payment.

In 2009, the IRS stimulus sent in motion by the Obama Administration (as part of the broad $787 economic stimulus package) is coming in the form of less withholding from paychecks, approximately $10 per week, per worker, through the end of 2010.