By Teresa Whitaker Anchor
News 3 On Your Side
Consumers are losing thousands of dollars a year because of common misconceptions. The Governor's Office of Consumer Affairs in Georgia lists the ten most common consumer myths:News 3 On Your Side
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Stumble It!Myth: You have the right to cancel any purchase within three days.
Fact: The three-day Cooling-off period (right to cancel) applies only to a limited number of cash or credit transactions of $25 or more. The rule applies to door-to-door sales or places other than at the company's regular place of business. Purchases of automobiles and other vehicles are not usually covered.
Myth: You have the right to a store refund if you request one.
Fact: A refund or exchange is a privilege and not a right. Ask about the merchant's policy before yuou purchase the product.
Myth: You are guaranteed to win a fabulous prize when you receive an "Awards Notification" in the mail.
Fact: If the prize promoter demands that you pay up-front to cover entry or judging fees, as a donation, to pre-pay taxes, or via a call to a 900 number, do not respond!
Myth: Almost all of the money contributed to charity must go to the intended purpose.
Fact: Charitable organizations are not obligated to spend a minimum percentage of what they raise on their stated charitable purposes.
Myth: It is okay to give out you credit card number over the phone even when you are not making a purchase.
Fact: Never use your credit card for identification purposes in response to a phone solicitor. Con artists with access to your credit card number and expiration date may make unauthorized charges against your card.
Myth:Purchasing magazines will improve your chances of winning a publisher sweepstakes.
Fact: Entrants who do not purchase magazines must be given the same chance of winningg as those who do not make purchaes. It is illegal in most states for any type of sweepstakes promotion to require any kind of purchase or payment to enter.
Myth: No one can take money directly from your bank accounts without your written authorization.
Fact: Giving someone your checking account number may provide them with the means to make withdrawals from your account. Thieves can sometimes contact your bank with your account number, claim that you authorized a withdrawal, and convince the bank to make the payment even though it lacks your signature.
When you have a dispute with a merchant, resolving it can be time consuming and frustrating. Leonard Crain with the Better Business Bureau offers these tips to help you avoid trouble down the line:
SAVE RECEIPTS. Most of them contain return/exchange policies.
KEEP ORIGINAL PACKAGING.
DON'T SIGN ANYTHING
IF YOU'RE UNSURE. Get help understanding the terms.
DON'T BE PRESSURED INTO
BUYING ANYTHING.
IF YOU ARE
SEEKING A REFUND..
BE RESPECTFUL. Remember there's no law that says you're owed a refund.
Alabama's Office of Consumer Affairs does not list consumer myths but does provide a list of frequently asked questions about consumer issues.
Click here for a link.
