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The annual list of the top 10 consumer complaints is out, and it features familiar scams. Once again, the report is a good reminder to be careful. Some of the scams have become more sophisticated, with more high-tech ways of stealing your money. Topping the list are auto complaints, including misrepresentations in advertising or sales, faulty repairs, and leasing and towing disputes. In second place are complaints about credit and debt. The category includes mortgage modifications and mortgage-related fraud, credit-repair schemes, debt-relief services, predatory lending, and illegal or abusive debt-collection tactics. The five fastest-growing complaints are about fraud, debt-collection abuses, do-not-call violations, mortgage-related issues, and problems that people have had with both legitimate and sham home-improvement companies. New to the list this year are real-estate-related complaints. Hard times have left many people wanting to dump their timeshares, or at least get out from under yearly maintenance fees they can no longer afford. This desperation on the part of timeshare owners has been a boon to schemers. In one such swindle, "timeshare resellers" tell folks they can help them unload their unwanted properties and ask for an upfront fee for the service. I'm sure you can guess what happens. No buyers are found, no help is really offered and people are out of their money, stuck with a timeshare they can't afford. But then another timeshare crook swoops in to add insult to financial injury. Timeshare recovery companies offer to help owners get back the funds lost to resellers. They ask for an upfront fee. It's a double financial whack because this, too, turns out to be a scam.

A friend is burdened with multiple loans. Though he finds it difficult to pay his EMIs (equated monthly instalments), he hasn't defaulted. Can I take him to a debt counsellor who can advise him? What are the services debt counsellors provide and how much do they charge? Also, how long will the process take? Debt counselling in India is not a mature industry in terms of standardisation of services or charges. They may offer only advice to you or help you in liaisoning with the banks. They may charge a nominal fee, while some debt counsellors promoted by banks may offer free advice. I have two personal loans and two credit cards. I have always paid all the instalments on time. I want to apply for an education loan for my daughter. A colleague said I will not get another loan because I already have four credit products to my name. Is that true? No, this is not true. A fresh loan depends on your repayments of loans and current income. As you are servicing your unsecured loans well, I see no problem in getting an education loan for your daughter. Your daughter will be the applicant, with you being the co-borrower or guarantor. More Info: http://springhillgroupcounselling.com/