In Your Interest – by Valerie Rumbough

I will be moving my family to another location soon. Is there anything I need to be aware of in choosing a moving company?

Valerie Rumbough

Choosing a reputable moving company can be quite difficult. Since, 1995, when Congress did away with the Interstate Commerce Commission, the moving industry has been all but unregulated. Only the Federal Motor Carrier Safety Administration is nominally responsible for movers, and they focus mainly on crashes. The agency has only three employees, and they cannot intervene on an individual consumer’s behalf. Therefore, the scam artists tend to thrive in the business.

One way to get you is to give you a very competitive quote. Then, once they have your belongings, they demand you pay up to four times the agreed-upon amount. If you don’t, your belongings are placed in a warehouse somewhere until you give in.

Tim Walker experienced this and fought back by starting a website, MovingScam.com, to educate consumers about the risks. Visit this site, read his story, and review the moving company “black list.”

Other tips: Don’t assume you’re safe if you use a nationally known company; get referrals from people you trust, rather than searching for a company on the Internet; gather information on the company, such as their Department of Transportation and motor carrier license numbers, and all names they operate under; get references and call them; check them out online through their state’s secretary of state office, or the Better Business Bureau; and by all means, if, on moving day another company’s truck shows up, don’t let them touch your goods. Fire the mover and start looking for another one. The hassle won’t be as bad as trying to retrieve your belongings if they are held hostage.

Rumbough, CPA, CFP, is vice president of finance with the Baptist Foundation of South Carolina. For information concerning the above article or other matters, call her at 1-800-723-7242.

Editor’s note: In accordance with IRS Circular 230, this article is not to be considered a “covered opinion” or other written tax advice and should not be relied upon for IRS audit, tax dispute, or any other purposes.