NASHVILLE, Tenn. — State officials are warning Tennessee residents about a scam targeting veterans and their families.
“All too often military families are the focus of con artists who target them because of their steady, guaranteed incomes and their prolonged time away from home for deployments,” said the Tennessee Department of Commerce & Insurance Commissioner Julie Mix McPeak in a released statement.
But there are some red flags to watch out for.
First, be wary of advertisers offering “special military prices” or financing. Some businesses will say they are offering a better deal then try to extract higher prices or interest rates than regular customers.
Also, beware of free trial memberships or trials that aren’t really free. Some shady businesses will charge a very small fee to start a service just to get your credit or debit card number. Once they do, they’ll charge ridiculous membership fees to make up the money.
Be on the lookout for predatory lending schemes. Oftentimes these individuals will place themselves near military bases and target young military members with a steady income, but who are less experienced with finances.
Last but definitely not least, be sure to keep an eye on your credit report. It’ll help you spot suspicious activity.