Consumers in Michigan lose thousands of dollars each year due to common misperceptions. The Better Business Bureau wants you to know the facts. Here are some popular assumptions:
MYTH: You have the right to cancel any purchase within three days.
FACT: Contrary to popular belief, the “three-day cooling-off rule” (right to cancel) applies to only a limited number of cash or credit transactions of $25 or more. It applies to door-to-door sales or purchases made away from seller’s regular place of business. Automobiles and other vehicles are NOT covered by any “3-day” law.
MYTH: You have the right to a store refund if you request one.
FACT: Unless the product id defective or was misrepresented, a refund or exchange is a privilege and not a right that you can demand. Find out the stores policy before you buy.
MYTH: All advertising is checked for honesty before it is published or runs on TV or radio.
FACT: Neither our BBB office nor the government can possibly check out all claims, which is why obvious frauds like “bust developing creams” and “miracle weight loss pills” continue to run big TV infomercials.
MYTH: No one can take money directly from your bank account without your written authorization.
FACT: Scammers who trick you into giving them your checking account number can contact your bank, claim that you approved and convince the bank to make a withdrawal to them even without your signature.
MYTH: Almost all of the money contributed to police, troopers, or fight fighters who telephone for donation will go to the intended purpose.
FACT: Most of these callers work for profit-making professionals sales crews and usually only small percentage goes to any law-enforcement group. Ask if the caller is a paid solicitor or a volunteer, and request written materials starting the percentage of your money which really goes to the group’s programs.
MYTH: Purchasing magazines will improve your chances of winning a publishers sweepstakes.
FACT: It is illegal for any type of sweepstakes promotion to require any purchase or payment to enter. Buying magazines does not help!
Remember that the BBB has reports on thousands of companies you can look up at BBB.org and if you ever have a problem and feel you have been taken advantage of by a dishonest company you can also file a complaint.