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Is a debt collection call a scam?
How do I know if a debt collector is a scam?
How do I know if a collection call is a scam?
How do I find out if a debt collector is calling me?
Jun 26, 2024 · Debt collection scams are a serious and growing issue. Scammers pose as legitimate debt collectors, using threatening tactics to intimidate people into paying debts they do not owe. They use phone calls and deceptive emails to extract money or personal information from their victims.
May 14, 2024 · Here are a few red flags signaling a debt collection call could be a scam: The debt collector threatens you with criminal charges. There are only a few circumstances when a debt can lead to an arrest. Legitimate debt collectors should not claim that they'll have you arrested.
- Find out who’s calling. Get the name of the collector, the collection company, its address, and phone number.
- Get “validation” information about the debt. Within 5 days of first contacting you, debt collectors must “validate” or tell you the amount of the debt, the name of the current creditor, and how to get the name of the original creditor.
- Don’t respond to threats. When scammers threaten to arrest you, suspend your driver’s license, or call your employer if you don’t pay immediately, hang up and report the collector to the FTC at ReportFraud.ftc.gov.
- Do your own detective work. Check with the original creditor. Is the debt yours? Did they sell your debt or hire a company to collect it? If so, is the caller the original creditor’s collector?
- Debts Targeted by Collector Scams
- Signs of A Debt Collector Scam
- What to Do If Contacted by A Debt Collector
- What to Expect from A Legitimate Debt Collector
- Key Takeaway
The majority of scammers attempt to collect ‘phantom debts’, that is debts that do not exist because they were paid off or discharged or are entirely fictional. Another type of debt that scammers might try to collect are those that are statute barred – that is, debts that are no longer enforceable because the period during which the creditor can le...
The warning signs that you may be the target of a scam include if a supposed ‘debt collector’: 1. refuses to provide you with full details of the collection agency – its name, contact information, physical address and operating licence number – or provides you with fake or inaccurate information (such as an unreachable phone number) 2. demands that...
If you have been contacted by a debt collector or have received a debt collection letter, here are a couple of actions you can take to protect yourself until you confirm that the debt collector is legitimate. First: 1. Do notgive any sensitive financial and personal information. 2. Do notdiscuss anything related to the debt. Instead, do: 1. Ask for...
You can expect full disclosure from a genuine debt collector. Such debt collectors will have no reservations about revealing information including the full name of their agency, contacts, details about the original creditor and so on. They will be willing to provide you with all relevant information in writing. Additionally, legitimate debt collect...
Debt collector scams centre on people being tricked and pressurised into paying debts that they do not owe. If you ever find yourself interacting with a suspicious debt collector, look out for the highlighted warning signs to protect yourself from being their next victim. Do some research before making a transaction or even discussing the debt. You...
Oct 31, 2023 · If the collector can't provide you with basic information about the debt, like the date of default, amount of principal and interest, account number, whose name the debt is in, or other information, or it refers you to the original creditor for such information, you're likely talking to a scammer.
- The scam is straightforward. Scammers will call consumers to collect debts, posing as real collection agencies. Often, the scammers will have alrea...
- Here are some tips to help you determine whether there is a real collection agency on the phone, or a scammer. (Learn what to expect when your debt...
- The best thing you can do is not to pay anything or give away any of your personal information until you do some further research to find out if th...
- If you're convinced that the caller is in fact not a legitimate collection agency, the best thing you can do is ignore the calls. Scammers want qui...
Aug 17, 2023 · How To Spot a Debt Collection Scam. Debt Collector Red Flag #1: They Don’t Identify Themselves. Debt Collector Red Flag #2: You’re Contacted About a Debt, but You Haven’t Received Prior Notice by Mail. Debt Collector Red Flag #3: The Caller Asks for Immediate Payment by Money Transfer or Prepaid Card.
Debt collectors cannot call you at an unusual time or place or at a time or place they know is inconvenient to you. You might be dealing with a scammer if you are called before 8 a.m. or after 9 p.m. Learn how to protect yourself. Ask for a callback number.
