Nothing in the world is impossible. Not even being safe from investment recovery scams. But, what is it that really needs to be done in order to avoid an investment recovery scam? Let’s find out!
Money up Front? Have questions to ask? Go ahead and ask them all before hiring a stock loss recovery firm. The minute they say they can win your case, and then proceed to ask for an upfront payment -- even if it seems reasonable, like for filing fees --, you’re likely being scammed. Talk to multiple recovery firms and if there is a real winnable case, they will take it on contingency -- if they don’t win, you pay nothing! Research to the Rescue More than just losing your case, you might think, ah, so I lost the case. However, if you get in engaged with a scam company, they can not only lose the case, but also leave you liable to additional losses. In a case of Jay R. Simon vs Aegis Capital Corp (and others), the claim was for $29,000. He may not have had a winnable case either way, but he was doomed because the company representing him didn’t really know what they were doing. In another case the claimant sought $123,000 is losses, and in losing the case the claimant had to “payout” another approx. $50,000 in damages and costs. Visit with multiple firms to see if your claim is valid. If it is, the majority of them will want to represent the case. if none do, then there likely isn’t a case. Do homework about the people involved in the company Start with FINRA BrokerCheck to see if they’ve been brokers, and if so if there were sanctions against them. Search the firm on sites like Rip Off Report, Scamalot, Complaint Board and Pissed Off Consumer, as well as industry magazine articles, like Investment News. Even check blogs and let the rationality take over. Search about the company’s background and find out all that you can about its members. One such company which claims to provide excellent stock recovery services but seems to have a tricky background is Cold Spring Advisory, thanks to its members like Louis Ottimo who have a questionable history in the security industry. So, before you commit to any such firm, make sure you do the research that is vital. Be Wary of Praises That Seem Superficial You need to be extremely careful if you receive an unsolicited pitch from an investment recovery firm. When it comes to seeking investment recovery, you might tend to be much more emotional than you should be. So, don’t let your vulnerability guide you. Stick to the facts. We can all be gullible when people are telling us what we want to hear. Don’t be. ,
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