Utility Scams and Suzy
The AARP article I shared this week on Facebook and LinkedIn, this week was the inspiration for this case study. I will tell you a story about Suzy. The AARP article discusses the recent increase in utility scams. You can access the article HERE. I encourage everyone to read it!
Suzy is 78 and wants to continue paying her bills via check, receiving her monthly bank statement, with copies of canceled checks, and getting cash out of her account weekly via a check made out to cash, for all other expenses, such as prescription drugs, groceries, shopping, paying for home services, etc. Suzy has hired BRPS as a second set of eyes on her accounts and to assist her if she does not understand a bill.
A Trusted Partner can help protect you from Scams
BRPS Consulting wants to be your trusted partner and will sit with you to understand who you are, what is important to you, what you want from a trusted partner, and what you need/want/have for financial resources. BRPS will do as much, or as little as you are comfortable with. The key to BRPS’ success is your trust.
As a second set of eyes for Suzy, BRPS has fiduciary access to her credit card, bank account, and retirement account. BRPS reviews these accounts quarterly for her, looking for unusual activity. Suzy does the transactional work herself. When Suzy wants BRPS to look for something specific, I will sign on and look for her. Suzy knows when I sign into her account, as she receives a notification from the vendor.
Last week Suzy asked me to check on the last time she paid her utility, as she was getting phone calls from said utility saying she has not paid her bill. Suzy knew she wrote the check, so she believes the phone calls are a scam. As a client of BRPS, you will be informed about any scams that are prevalent in your area. BRPS also provides advice on how to protect yourself against those scams. This education is why Suzy called BRPS for assistance, the call was suspicious.
Verify that any communication is valid by calling the customer service number on the bill. Do not give any information to the unsolicited caller/visitor, let them know you will call the customer service line and resolve any issues.
Not A Scam
Stop Payment at banks. Most banks will charge you to stop a payment. A check made out to a specific vendor cannot legally be cashed by someone else. The stop payment is added protection to ensure no one cashes that check. Before paying the fee to stop payment on a check, weigh the risk of not putting a stop payment on the check against the cost of doing so.
A review of her bank account indicated that she had not paid the utility bill. BRPS recommended placing a stop payment on the check. Suzy made a call to the utility company one last time and upon learning they still had not received the payment she wrote them another check.
This instance was not a scam, but it could have been. Reading the article referenced above, the warning signs were there:
- “An unscheduled or unsolicited call or visit from someone claiming to represent your utility company
- Threats to cut off service unless an overdue bill is paid immediately”
Suzy knew what to look for. She immediately engaged BRPS to help her through this situation. Everyone is different and everyone uses BRPS’ services as they choose. For those of you that like self-service and do not want to read the entire article, here are the Do’s and Don’ts for any unscheduled/unsolicited calls or visits
From AARP Article to Protect Yourself From Scams
BRPS is confident that it can help all clients get their financial and legal lives in order through direct help or through referral.
Let’s find out how BRPS can help you!
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