One of the top consumer complaints I receive concerns unwanted phone calls about lowering your credit card rates.
But good news for consumers: A slew of lawsuits may finally shut down "Rachel" and those other robo callers.
Have You Received a Call?
Millions of people have received automated calls from "Rachel" or "Kathy at Card Services."
"This is Kathy calling about your credit card account. I wanted to let you know about some ways to lower the interest rate you pay!"
Peggy Werner told me last year these calls were driving her crazy. At first, Peggy pressed 1 for an operator, assuming it was her bank calling.
She said "I asked which card are you calling about, because it did seem they know about your credit card. But then they had no idea which cards I had."
But it's not really your card company calling.
Who is Behind it?
The Better Business Bureau, which has fielded thousands of complaints, says these calls from Kathy or Rachel are really debt consolidation companies, that can charge up to thousands of dollars to help pay off your cards. The initial calls say nothing about that.
But their time may be running out.
Indiana Attorney General Greg Zoeller has just filed suit against a Largo Florida company called "Consumer Credit Group LLC," that his investigators say appears to be the source of the majority of these calls.
Peggy and many others would be thrilled if the suit finally puts Rachel out of work.
"I thought if I got on the do not call registry they would stop," she said. "But they don't ever say they will take your name off the list, they just immediately hang up." And then they call back.
The worst part of these calls: They don't abide by the do not call list. So telling them you are on the list accomplishes nothing.
Perhaps legal action will finally do what no one has been able to do so far, so you don't waste your money.
Don't Waste Your Money is registered trademark of the EW Scripps Co.Matarese on Facebook
Follow John on Twitter
Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Did You Hear?
As the holidays keep creeping forward and the temperatures drop, it's important to keep your loveable pets warm as well.
Sgt. Jason Cullum of the Evansville Police Department in Indiana was going about his day in his cruiser when he spied an object in the middle of the road.
Nelson Mandela said a lot of great things. But after his death, he's being widely credited on social media with a phrase he didn't utter.
More Financial Survival
The average U.S. rate on the 30-year fixed mortgage rose this week to 4.51 percent, a two-year high. Rates have been rising on expectations that the Federal Reserve will slow its bond purchases this year.