Bits of news and pieces of my mind, in case you’re wondering. I’ve seen a couple of stories either on TV or in print in the last 24 hours that have me fairly upset. I’d like to weigh in on the subjects and also would like to hear your opinions.
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Caught this on a TV news program last night, something like Dateline, 20/20 or the like. Sorry I can’t tell you which one for sure, as I don’t initiate TV watching. Maybe someone else caught it too and can tell us.
The subject was counterfeit prescription medicine. It’s become big business world wide, and according to this report, illicit drug smugglers are getting into the act. And the counterfeits are showing up in our neighborhood pharmacies, everything from Viagra and Cialis to Lipitor and other cholesterol -lowering medications, too good for the local pharmacists to tell the difference.
And what a difference! To create these pills cheaply, manufacturers are using ingredients like gypsum (the chief ingredient in drywall), lead-based yellow highway paint and other harmful substances. The result? Not only are sick people not getting the medicine they need to stay alive or stay relatively healthy, but they are actually being poisoned!
It was enough to make me very grateful I’m not on prescription medications, and vow to stay healthy enough to stay off them. But what of my mother, my mother-in-law, all my husband’s siblings, my daughter? All of them need various medications to stay healthy or stay alive. And their medicine isn’t guaranteed to be safe!
I can’t imagine much that’s more scummy than this. I think the perpetrators ought to be fed a few of their own fake pills. Maybe a little lead poisoning will help them think straight. At least the person that this report ferreted out had the grace to admit the activity was illegal right up front. No one could complain it was a scam, exactly, even if the perps are lower than a snake’s belly.
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Spotted in the most recent AARP Bulletin: Not a new scam, but another really scummy one, ‘financial planners’ are inducing unsophisticated investors to put their life savings into viaticals. Viaticals are discounted life insurance policies. The idea is to allow a terminally ill patient to sell his or her life insurance policy to an investor in return for funds for current medical and other needs. The discount ‘guarantees’ a return on investment for the investor.
Personally, I find this distasteful, but I can see how someone who needed the money now would be helped by it. Unfortunately, the companies that trade in these investments are rife with fraud. The result is that neither party gets what they need. A desperately ill person loses promised funds, and an unsophisticated investor, who may have been wined and dined at a dinner seminar to lull his suspicions, loses his life savings. Maybe I’m too vindictive, but I’d advocate feeding the perps of this scam a few counterfeit pills, too.
Be very, very careful if you are approached with this scheme. I’ve checked it out before, and I can’t find anyone who has anything good to say about it but scammers. To learn more about viaticals, go to http:///sec/gov/investor/seniors.shtml. If you think you may have been scammed already, check it out or make a complaint at http://www.nasaa.org/QuickLinks/ContactYourRegulator.cfm.
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From the same Bulletin comes good advice about your credit score. DO sweat the small stuff. Even if you pay your major bills on time, little things like overdue library books, parking tickets, or late payments to contractors or mechanics can ding your credit. Such things are often sent to collection agencies, which report them to a credit bureau.
If you can’t pay all your bills and would like to know how to fix that, please contact me. I can show you the most efficient way to the light at the end of the tunnel. I offer this freely and without obligation. Note: I am not a financial planner, just someone who knows how to get out of debt. I won’t, can’t charge you for consultation, try to refinance your house, take your money to pay your bills for you or anything like that. I may recommend you try credit counseling, but only in the last resort.
While we’re on the subject, be cautious about anyone who offers to clean up your credit, especially if what’s making it ‘dirty’ are legitimate reports of late payments or write-offs. No one can remove a legitimate negative report from your credit file. Your best bet is to clean it up yourself, the right way. You’ll save money that way, too.
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Well, that’s enough ranting for one night. I feel much better now! Let me hear your thoughts.
Cheri
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