THE FOLLOWNG CHARACTERISTICS OF THE ELDERLY AS A GROUP TEND TO AGGRAVATE THEIR PROBLEMS AS CONSUMERS: (1) LOWERED INCOME FROM RETIREMENT FORCES THE OLDER CONSUMER TO RELY MORE HEAVILY ON CREDIT; (2) AS A CLASS, THE ELDERLY MAY HAVE THEIR CREDIT STATUS AUTOMATICALLY REDUCED; (3) MANY ELDERLY PERSONS CHOOSE TO MAKE CASH PURCHASES, WHICH UNDERMINES THE ESTABLISHMENT OF CREDIT; AND (4) RETIREMENT AND ILLNESS MAY UNDERMINE A GOOD CREDIT AND WORK RATING. SOME IMPORTANT GENERAL POINTS FOR THE ELDERLY TO REMEMBER WHEN FACED WITH A CONSUMER PROBLEM ARE LISTED. STEPS TO BE TAKEN AND CAUTIONS TO BE OBSERVED IN THE SIGNING OF ANY CONTRACT ARE CONSIDERED, AND THE THREE-DAY CANCELLATION PERIOD WHICH APPLIES TO CONTRACTS, PARTICULARLY THOSE GENERATED FROM HIGH-PRESSURE SALES, IS INTERPRETED. THE WISCONSIN CONSUMER ACT OF 1973, WHICH COVERS MOST CONSUMER CREDIT TRANSACTIONS IN THAT STATE, IS DISCUSSED AS IT APPLIES TO INTEREST RATES OR FINANCE CHARGES ON LOANS AND SALES AGREEMENTS AND DISCLOSURES TO CUSTOMERS REQUIRED IN ANY CREDIT TRANSACTIONS. RESTRICTIONS ON MERCHANTS AND COLLECTION AGENCIES IN DEBT-COLLECTION METHODS IN WISCONSIN ARE DISCUSSED, AND STEPS THAT CAN BE TAKEN BY THE CONSUMER WHEN THREATENING DEBT-COLLECTION PRACTICES ARE USED ARE SUGGESTED. ISSUES RELATED TO REPOSSESION OF ITEMS FOR WHICH PAYMENT HAS NOT BEEN GIVEN AND LAW SUITS INITIATED BY A CREDITOR ARE ALSO CONSIDERED. THE ELDERLY ARE ALSO MORE APT THAN MEMBERS OF OTHER AGE GROUPS TO BE VICTIMIZED BY CON GAMES OR FRAUD SCHEMES. WITHOUT LISTING DETAILS OF PARTICULAR FRAUD SCHEMES, SOME GENERAL CHARACTERISTICS OF FRAUDULENT APPEALS ARE IDENTIFIED. UNFAIR AND DECEPTIVE TRADE PRACTICES PROHIBITED BY WISCONSIN LAW ARE ALSO INDICATED. (RCB)