Peter C. Harvey, Attorney General
Division of Consumer Affairs
Reni Erdos, Director
For Immediate Release:
January 30, 2004
For Further Information Contact:
Genene Morris, Jeff Lamm
973-504-6327
NEWARK -- In recognition of National Consumer Protection Week, Feb. 1 through Feb. 7, Attorney General Peter C. Harvey and New Jersey Division of Consumer Affairs Director Reni Erdos are encouraging consumers to follow practical steps to make wise purchasing decisions to protect their finances.
This year's theme, "Financial Literacy: Earning a Lifetime of Dividends," focuses on the skills consumers need to make smart choices in the marketplace and ensure their financial well-being.
"Say 'financial literacy,' and most people immediately think that means investments and understanding how the stock market works. But it's much more," Attorney General Harvey said. "Financial literacy affects every aspect of your life as a consumer and requires that you take certain protective measures to secure your money and lessen the likelihood of your becoming the unwitting victim of fraud."
"People work hard for every dollar they earn and deserve the peace of mind that comes with making informed decisions in the marketplace,' First Assistant Attorney General Edward M. Neafsey said. "Whether you're purchasing a car, fixing up around the house, shopping online or buying securities, you owe it to yourself to be a savvy consumer."
In 2003, Consumers complained to Consumer Affairs about a wide variety of problems ranging from automobiles, investment schemes and home repair contractors to furniture sales and travel agents.
At the top of the list of complaints for 2003 were financial-related problems (3,099 complaints) involving mainly fraudulent credit card offers, debt-collection practices and investment or business opportunities. Auto-related complaints, historically the No. 1 area of concern for consumers, came in a close second with 3,077 consumer complaints.
Rounding out the top five areas of complaints are:
"Every complaint reported to our Office of Consumer Protection and Bureau of Securities has or has the potential to directly impact consumers' finances," Director Erdos said. "When a stock broker sells unregistered securities; when a furniture company fails to deliver merchandise as promised; or when an auto repair shop fails to fix a car properly resulting in repeated visits to the shop, consumers stand to lose money -- whether in out-of-pocket expenses or time off from work.
"Consumer Affairs will continue to do what it does best: fight to keep the marketplace honest by prosecuting violators of New Jersey's consumer protection laws, and work to make consumers who've been victimized by fraud whole again," Erdos added. "Consumers, however, should view themselves as our partners in the fight against fraud. That means educating themselves on how to protect themselves from fraud and reporting fraudulent activities when they discover them."
Erdos offers the following additional tips:
Shop around. Before you purchase an expensive item or hire someone to provide a service, contact several merchants or companies offering the same product or service in which you're interested for the best deal.
Contact the New Jersey Division of Consumer Affairs. Once you've decided where you want to go for a particular item or a service, check the company out by calling Consumer Affairs. Consumer Affairs can be reached at 800-242-5846 or 973-504-6200 (if calling from outside the State of New Jersey). You may also log on to e-mail Consumer Affairs at: askconsumeraffairs@lps.state.nj.us. Representatives from our Consumer Service Center can tell you whether the merchant has been the subject of consumer complaints, the nature of the complaints, and when the complaints were filed.
Read the fine print. Don't sign any contract unless you have read, understand and agree with all the terms of the agreement. The same rule applies when reviewing advertisements or promotional materials, such as credit card offers. Often, the fine print in advertisements and promotional materials will disclose whatever limitations and conditions that apply.
Get and keep receipts and all contracts. These serve as your proof of purchase or an agreement and can be used to assist you should you encounter a problem with your product or service you've received.
Become an informed consumer. Log onto www.njconsumeraffairs.org/dcapub.htm or call the Division's Consumer Service Center at 800-242-5846 (or 973-504-6200 for calls placed outside of the State of New Jersey) for consumer education materials that cover a variety of topics, including investment fraud, Internet auctions, home repair fraud and auto leasing and repairs, among other subjects. The materials are available in English and in Spanish. In addition, invite someone from the Division's Speakers' Bureau to come out to speak to your group regarding consumer fraud and ways to protect yourself from it. Call Loretta Creggett at 973-504-6576 (for presentation in English) or Margarita Cart at 973-273-8084 (for presentations in Spanish).
For additional information about National Consumer Protection Week, log onto www.consumer.gov/ncpw.
###