Consumer Fraud Lawyer
There are countless forms of consumer fraud. Consumer fraud occurs where a company uses fraudulent tactics to purposefully mislead consumers to increase their own profits. When companies engage in these types of activities, we believe they need to be held accountable for their actions.
At Paynter Law, we take pride in confronting consumer fraud issues head on. We use our decades of experience and an innovative approach to get justice for our clients.
There are generally three categories of fraud; a knowing omission of important facts, a misrepresentation, or the violation of state and federal laws by a person or company. State and federal laws were created to protect consumers from these types of actions and hold companies accountable. These laws provide a variety of remedies to the consumer to compensate them for their losses.
Unfortunately, consumer fraud is very prevalent in society today. Because of its nature, it is difficult to measure accurately. However, experts estimate that 32 million people (or 12% of the population) have been a victim of some type of consumer fraud. These fraudulent activities are thought to cost the U.S. economy between 40 to 50 billion dollars annually. This only accounts for retail fraud and doesn’t consider things like healthcare fraud. Healthcare fraud is through to cost the U.S. 68 billion dollars a year.
Consumer fraud occurs where an individual suffers a financial loss due to misleading, false or illegitimate business practices. To address these activities, consumers are protected by the Federal Trade Commission and the Consumer Financial Protection Bureau among other state and federal agencies.
Types of Consumer Fraud
Fraud comes in many forms, but some common fraudulent activities include:
Identity Theft: Identity theft occurs when a party obtains access to your personal information, including bank account numbers and social security number. They will then assume your identity to commit fraud. Initial estimates are that in the past year alone, there were 16.7 million cases of identity theft were reported.
Credit Card Fraud: Credit card scamming is a billion-dollar industry. The use of credit cards and ATM cards provides countless opportunities for criminals to exploit consumers, banks and merchants.
Mortgage Fraud: This type of fraud is less talked about than in the recent past, but it still occurs in great numbers. During the mortgage crisis, it was reported that 74% of home loans were thought to involve some type of fraud.
Telephone Fraud: We all have gotten strange, unsolicited calls where someone is either asking for money, wants you to verify your personal information, or asks you to make a payment for something that you don’t believe you owe. This type of fraud is rampant today. Because of this it is important to always research any company that call you asking for money or personal information.
Internet Fraud: These schemes get more sophisticated every year. Probably everyone has heard of the “Nigerian Prince” scheme. These schemes are plentiful and involve charities, dating sites, health products or obtaining special deals or coupons.
The lawyers at the Paynter Law Group, PLLC, are passionate about protecting our clients from companies that engage in fraudulent or deceptive practices. Sometimes these illegal activities go on for years until someone stands up and challenges them. We are well equipped to investigate and these claims and hold these companies accountable for their actions.
If you have been a victim of consumer fraud, contact us without delay. These matters have filing deadlines that must be followed. Failure to meet the deadline could bar you from filing your claim.
If you decide to pursue your case, we will take your case on a contingency basis. This means you pay nothing until we recover on your behalf. Call us for a free consultation at (202) 626-4486.