By far and away, questions about suspicious lotteries, financial fraud, debt collectors, mortgage fraud, and credit and debt scams top the list of the most complaints handled by the Attorney General’s staff in 2008. Suspicious financial operators have generated almost 10-thousand complaints to the Attorney General’s office in the last year.
Some of the complaints are from people facing someone trying to take advantage of their financial problems, offering simple solutions–for a price. But the office says there are few instant fixes that are legitimate, no matter how good they look.
A spokesman says more complaints about financial issues are coming up as the economy continues to decline.
Some people complain about Payday Loan problems. Spokesman Scott Holste says those complaints are sent tot he Davison of Finance, which regulates those businesses.
State law allows an annual interest rate of as much as one-thousand-950 percent on payday loans. Holste says people who don’t pay off their loans right away often find themselves in big trouble…and often call the Attorney General for help.