CENTS Launches Project to Protect Washington Seniors

Seattle City Attorney Peter Holmes (left), CENTS co-founder U.S. Bankruptcy Judge Karen A. Overstreet, and Washington State Attorney General Bob Ferguson participated in the Senior Money Project DVD premiere on April 1, 2014.

Why did the infamous bank robber Willie Sutton rob banks? "That's where the money is," he said. Scammers who prey on senior citizens have the same mentality.

The statistics are staggering:

  • Senior citizens and the elderly are swindled out of nearly $3 billion a year.
  • That's likely only the tip of the iceberg, as only 1 in 44 cases are reported.

The Senior Money Project webpage offers a wealth of resources for older consumers.

That's why CENTS, a local nonprofit organization, created the Senior Money Project, a free educational financial program for seniors. They want seniors to know there is an abundance of scams, fraud, and bad deals designed to relieve them of their money.

Senior Money includes a 100-minute instructional DVD featuring Washington State Attorney General Bob Ferguson as well as a companion website. The video covers reverse mortgages/equity decisions, scams, identity theft and estate planning. The robust website contains further information and resources on a wide variety of financial topics affecting senior citizens.

CENTS—Consumer Education and Training Services was co-founded by Federal Bankruptcy Judge Karen A. Overstreet and Seattle bankruptcy professionals. The organization's mission is to teach individuals how to make informed financial decisions. Senior Money is the culmination of teamwork by Western Washington consumer attorneys and financial professionals.

Contributor Tony Leahy, CENTS executive director, is happy to send you a copy of the free Senior Money DVD. E-mail your request to tony@centsprogram.org. For more information, visit www.seniormoneyproject.org.