By Deb Miller - West Virginia Senior Legal Aid Contributor
Facing the painful and unexpected truth that he had already been cheated out of at least $30,000, Jerry had thought financial exploitation involved only scammers from some faraway place. But his granddaughter lived only a couple miles away.
Those closest to us actually have far easier access to the information needed for financial exploitation because we know and trust them. Anyone with income or assets of any age can be a victim, according to Federal Trade Communication statistics.
Those who live on fixed incomes, like Social Security or SSI benefits, especially need to look out for their future well-being by learning about financial protection.
Looking back, Jerry realized that the fast pace of change had made it more difficult and frustrating for him to handle his finances the way he used to. He was 73, his wife had died some years before, and he was still grieving and lonely.
Among other things, he neglected checking his bank statements and other financial account records. Things just piled up on the table, and he didn’t care.
Jerry’s lack of interest in financial matters had allowed his granddaughter Ana to clean out most of his bank account without his noticing it. He had always trusted her.
Ana justified taking Jerry’s funds along the lines of you have it, I need it now, I’m taking it.
Without his permission, Ana had also set up new credit card accounts in his name and run up high charges. She had a lot of computer savvy and took advantage of him and the merchants. She had no intention of paying the credit card bills.
As many others have learned, the “family thief” can create or alter online accounts that the victim is blocked from opening or reviewing because they don’t have the new passwords.
Jerry didn’t want to face the reality that his granddaughter probably used illegal drugs and was always asking him for money.
Even when warned, family members often fall victim to the theft of funds and misuse of credit cards more than once.
When the amount of Jerry’s missing funds was discovered, the option of getting help from law enforcement was considered. He wanted to get his money back but was also reluctant to pursue criminal prosecution for fraud and theft against Ana. She was already in trouble for stealing from the company where she had once worked.
Looking for light at the end of the tunnel, Jerry considered going to court to petition for a financial exploitation protective order from the county circuit or magistrate court. He was eligible since he was over 65.
The financial protective order, as authorized by West Virginia Code sec. 55-7J-1, et. seq., would specify that Ana was not to contact him or come to his house, as well as return the missing funds. It could also result in the criminal prosecution of Ana.
Further, Jerry realized he was a victim of identity theft and that the effects would likely go far beyond the present if not corrected.
The ramifications and headaches could show up for years. Higher insurance premiums and interest rates on loans and credit card accounts, as well as a bad credit record and score, were on the horizon unless he took care of cleaning up the problem. A family member he trusted offered to stay involved to help him do that.
Sad to say, ignorance of protective measures and confusion about what’s happening actually increase the risk of financial exploitation.
West Virginians age 60 and over can get help to avoid or handle financial exploitation or deal with other legal issues by contacting West Virginia Senior Legal Aid at 800–229–5068 or info@seniorlegalaid.org.
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