Debt collection scams can induce anxiety, as scammers claim to be collecting on overdue debts. They may threaten legal action if you don’t immediately provide payment or your bank account information. In reality, no legitimate debt collection agency would ever demand you make hasty payments onlin...
Scammers contact you and claim that you owe a debt. Most debt collection scams happen over the phone, but scammers may also reach out via texts, emails, or even visit you in person. During the interaction, they use your personal information to make you feel that the debt is legitimate...
To avoid falling victim to a debt settlement scam, it is important to do your research and work with a reputable debt relief company or credit counselor. Look for companies that are accredited by the National Foundation for Credit Counseling (NFCC) or the Financial Counseling Association of ...
Scammers often use unidentifiable or frequently changing contact details to avoid detection. Research the contact information provided to check if it’s linked to a reputable agency. If you cannot confirm the authenticity of the supposed debt collector’s contact information, don’t respond further ...
The Federal Trade Commission’s How To Get Out of Debt: This FTC page teaches you how to exercise your rights under the Fair Debt Collection Practices Act and recognize debt-related scams and frauds. Studentaid.gov: You can have your federal student loans forgiven, canceled or discharged. Lea...
The best way to avoid dealing with a collection agency is to always make your credit card and other debt payments on time. Setting up a direct automatic payment system can help ensure that your payments are never late. However, if you have any changes to your financial account — such as...
To avoid hurting your credit when you close accounts, ask the company to report the account as being closed at your request [source: Dunleavey]. You also might consider leaving these accounts open, even if you won't use them, because it will improve your debt-to-credit ratio. If those ...
Debt Collection Scams Sadly, debt collection scams are just one of the many ways someone can try tosteal your identity. . . and your life savings. That’s why it’s important for you to know exactly who’s calling and what to look for when you’re sent to collections or are contacted...
Make sure to do some research before you donate to a given charity. Some well-known charitable organizations accepting crypto includeThe Giving BlockandUkraine DAO. What are red flags for fundraising scams? Donation requests from charities you don’t recognize that claim you are a past contributing...
Learn how to identify and avoid scam text messages. Explore tips to protect yourself from SMS scams & fake calls to safeguard your personal information effectively.