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Mar 21, 2024 · When can a debt collector contact me? Contrary to some people’s belief, a debt collector can’t reach out to you at any time. Here in Canada, there are regulations around when collection agencies may contact you. Below is a list of rules legitimate agencies should follow. They are permitted to call you on Sundays between the hours of 1 pm ...
- John Albertini
- Staff Writer
- 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.
Sep 23, 2022 · If a collector is harassing you, you can submit a complaint with the CFPB online or by calling 855-411-2372, as well as with the Federal Trade Commission online or by calling 877-382-4357. You can ...
- Meredith Dietz
- 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.
What to do when a debt collector calls. If a debt collector calls you, ask for and write down the following information: the agent's name. the company they work for. the name of the company they are collecting money for. the debt collector’s telephone number. Ask for details on the debt, such as: the amount you owe.
Apr 17, 2024 · 1. Right to a written notice explaining your debt. The first thing you should do when a debt collector contacts you — before even considering a payment — is to make sure that the debt collector and the debt are legitimate. Keep in mind that a phone call from a debt collector isn’t enough.
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Sep 16, 2024 · The name of the creditor. The amount owed. The procedure to dispute the debt. If a collector withholds this information or fails to provide it immediately, this may be a sign of a scam. Even if it ...
