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Mar 15, 2024 · Most commonly used area codes by fake debt collectors. You don’t need to pick up the phone to spot a fake debt collector. You can often tell a call is spam just by looking at the phone number. However, fake debt collectors and other scammers often disguise numbers they call from as private individuals to avoid being blocked.
- How to Tell If Your Debt Collector Is A Fraud
- Types of Debt Collection Scams
- What to Do If You Know You’Re Being Scammed by A Debt Collector
- Bottom Line on Debt Collection Scam
If you’re overdue on your debt, your creditor may reach out to you and try to collect your missed payments. However, if they’re unsuccessful, they may enlist the services of a debt collector to collect the money you owe. Unfortunately, many Canadians have been victimized by scammers who convince consumers that they are legitimate collection agencie...
Fraudulent collection agencies are savvy and use several tactics to scam unsuspecting Canadians out of their money. They sound legitimate, which is why many Canadians fall victim to these scams. Here are a few debt collector scams to keep an eye out for:
If you receive a call from a debt collector and decide that you are being scammed, it’s important to stay calm and follow these steps.
Just remember the two most important things you can do are stay calm and do not under any circumstances hand over any money. Do some research and verify all the information you have. Making sure if it’s a scam or a legitimate debt collector before you make any payments is extremely important.
Jun 26, 2024 · Related: Up to 900% surge in travel scams, Warns Booking.com. How Debt Collection Scams Work. Debt collection scams often begin with an unsolicited call or email from someone posing as a debt collector. The debt in question might be entirely fabricated, canceled, discharged, forgiven, or too old to be collected.
your debt collection rights, including your right to get information about the original creditor if you ask for it within 30 days of getting validation information from the collector Once you get the validation information, if you still don’t recognize a debt, or don’t think the debt is yours, send the debt collector a dispute letter.
- Debt Collector Red Flag #1: They Don’t Identify Themselves. The first thing you can do to determine if the debt collection company contacting you is legitimate is request information about the caller.
- Debt Collector Red Flag #2: You’re Contacted About a Debt, but You Haven’t Received Prior Notice by Mail. If you have a legitimate debt that has been sent to a collection agency, the agency must send a formal written notice to your mailing address either before or within five days after the first call.
- Debt Collector Red Flag #3: The Caller Asks for Immediate Payment by Money Transfer or Prepaid Card. There are three ways scammers like to move money from your bank account to theirs
- Debt Collector Red Flag #4: The Caller Threatens To Reveal Your Debt to Others. The Fair Debt Collection Practices Act (FDCPA) is a federal law that prohibits creditors and debt collectors from threatening to tell others — including family members, co-workers, employers, or friends — about the debt they claim you owe.
Oct 31, 2023 · How the Fake Debt Collection Scam Works. The scam is straightforward. Scammers call consumers to collect debts, posing as real collection agencies. Example. A scammer informs you that she is collecting an American Express debt. You might owe money to American Express, so you believe the caller works for them.
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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. The debt collector refuses to give you information about your debt or ...
