(1888PressRelease)
May 15, 2009 - Joseph Russo advises that the FTC alleges that the extended warranties being sold by these companies are “false”, and the companies are not associated with any legitimate auto dealer or manufacturer.
The warranties were being sold for approximately $2,000 to $3,000 and the companies took in more than $10 million dollars from unsuspecting consumers.
The FTC is also seeking temporary restraining orders to freeze assets and halt company operations while the cases proceed. Both companies named were based in Florida.
Joseph Russo advises consumers to research any companies that claim to offer extended warranties, no matter how strong the “sales pitch” is. Write all the information down and check with your automobile technician or service center to check the validity of any warranty company before sending in any money.
Federal law has strict regulations against this type of telemarketing which, according to the FTC was one of the most aggressive campaigns they have ever encountered.
About The National Council for Financial Literacy
The mission of the National Council for Financial Education of Students and Consumers is:
to provide proactive, rather than reactive, financial education programs for students and consumers, through enhanced delivery strategies of financial content, with facilitators that are focused on topics that directly affect the ability of participants to function efficiently in basic daily financial situations.
The “Council” wishes to improve awareness of the pitfalls of poor money management and significantly improve the financial awareness in areas of daily financial stability, by concentrating on topics that concern basic daily financial survival. “Back to the Basics” of good money management.
More information about the National Council for Financial Literacy can be found at www.ConsumerFinancialFacts.org
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