Seven rip-offs that prey on your fears

We highlight the exploitative rip-offs to avoid - and show you how to fight back.

Targeting someone’s fears or insecurities for financial gain is a pretty low trick, right? But unfortunately, it goes on all the time. Here are seven exploitative rip-offs that really get my goat.

1. Slimming products

The manufacturers of pricy slimming products exploit the insecurities so many women (and to a lesser extent men) have about their weight.

In some chemists, several shelves are dedicated to products designed to speed up your metabolism, swell up inside you, give your weight loss a herbal boost, or replace normal meals.

Unfortunately, the evidence in favour of these products is sketchy, to say the least. According to this recent BBC health analysis, there is little or no published medical evidence to support the weight loss claims made by four of the five popular products it investigated.

It’s boring - but it seems much more effective (and cheaper) weight loss can be achieved by a combination of regular exercise and a healthy diet. Eureka!

2. Anti-aging creams

Many people spend literally hundreds of pounds on lotions and potions designed to hold back the years. Just how effective these creams are is still up for debate.

In this article, my colleague Neil Faulkner highlighted a Which? report revealing that a cheap moisturiser worked just as well as all the best performing specialist creams - and better than some.

On the other hand, an independent investigation by the BBC’s Horizon programme found that Boots No. 7 Protect and Perfect Intense Beauty Serum did have significant beneficial effects.

Thankfully, there are several things we can do to improve our skin and appearance without spending the family inheritance.

Experts agree that stopping smoking, drinking plenty of water, getting a decent amount of sleep and using a high factor sunscreen all help.

3. Wedding paraphernalia

A friend recently told me she was worried about her wedding - specifically, she was worried it wasn’t going to be ‘unique’ enough. Surely the unique bit is that the two of you are getting married?

There’s a huge amount of pressure and expectation associated with what’s hyped as ‘the most important day of your life’ - and the wedding industry cashes in on it for all it’s worth.

To avoid getting ripped off, read The seven worst wedding rip-offs!

4. Dating sites

Love is the answer, right? And unfortunately, when you’re vulnerable and scared of being alone, you’re a prime candidate for fleecing.

Not all dating sites are a rip-off - but many do charge substantial subscription fees to help you find Mr or Miss Right.

If you do decide to use an online dating site, read this article first to find out about the best value options.

5. Private debt management companies

There are many phrases I could use to describe these organisations, but most aren’t fit to be printed. Essentially, private debt management companies exploit people who are already in serious financial trouble.

They charge substantial amounts of money to manage your debt repayments for you - even though several charitable organisations provide the same service for free.

I wouldn’t touch one of these private firms with a bargepole. Instead, read this article to find out about the free alternative services on offer. And if you want to find out more about debt management plans, read this recent blog post.

6. Doorstep selling

Many elderly and housebound people in the UK are scared of becoming isolated. Doorstep sellers can be the only people they interact with for days on end - which is exactly what makes them so vulnerable.

Not all doorstep sellers are unscrupulous or rip-off merchants; but they do come with an agenda, and once they’re inside your home it can be difficult to say no.

If you’re tempted by a doorstep sales offer, ask to look at the paperwork in your own time and never sign up to anything on the spot.

And remember that Doorstep Selling Regulations give you an extra level of protection: If you change your mind about a purchase worth more than £35, you have at least seven days to cancel the contract.

7. Sale and rent back

The thought of losing the roof over your head can be terrifying. This is the worry sale-and-rent-back companies exploit.

People in a tight financial spot are offered the chance to sell their homes to specialist firms. These firms say they will then rent their homes back to them, so they don’t have to move out.

Unfortunately, the evidence indicates that many of these firms pay far less than the properties are actually worth - and boot out their tenants after a matter of months.

To find out more about sale-and-rent-back schemes, watch this lovemoney.com video.

What are the worst rip-offs in Britain?

We want to know what you think are the worst rip-offs in Britain. Tell us about your experiences via our discussion group: The worst rip-offs in Britain!

More: Five everyday swindles you can’t avoid | Don’t get ripped off ever again!

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