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...
How to spot debt collection scamsAccording to the CFPB, there are a few red flags that indicate a debt collection call could be a scam:The caller is trying to collect a debt that you don’t recognize. The caller threatens you with criminal charges. Only in very rare cases does 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. Depending on your online security, scammers can find ...
Debt consolidation scams are schemes that trick people into paying for services that are not effective. Scammers often promise to eliminate debt quickly and easily, but the reality is that debt consolidation takes time and effort. Fraudsters will typically ask for upfront payments, promise to ...
Step One:Make sure you are not dealing with a debt collection scammer.Learn how to spot debt collection scams. Most scammers are located out of the U.S. and it can be difficult to stop them. Step Two:If you are talking to a legitimate collection agency (and not a scammer) and you ...
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...
If the contact comes from a legitimate debt collection agency but the debt doesn’t belong to you, dispute that you owe the debt. If you have gathered enough information to be sure it’s a fake debt, don’t respond to the scammer. ...
For fraud conducted via the internet, including scams delivered by spam and phishing websites, and your local police may not be able to take your report if you don't know where the scam occurred. For example, if someone steals your identity and opens up a credit card in another state, ...
You can negotiate a ‘pay-for-delete’ agreement with the collector, where they agree to remove the collection from your credit report upon payment. Always get this agreement in writing. What should I do if I’m sued by a debt collector?
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...