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Aug 13, 2024 · A legitimate collection agency will have all the details about your overdue debt, including the type of debt, who the creditor is, how much the debt is, when you started falling behind on your payments, and what the interest rate is, among others. If the debt collector is not able to provide you with any of these details, it’s most likely a scam.
May 14, 2024 · A legitimate debt collector can tell you their company name and mailing address, as well as information about the debt they say you owe. The debt collector should provide information about themselves and their collection agency. This can be a helpful way to know more about the debt, as well as tell whether or not it’s a scam.
Mar 15, 2024 · Or call 1-888-863-8657 and verify the CRA did actually contact you. A debt collector calls you, says you owe money and demands repayment by wire transfer, rather than by cheque or online. The debt collector only allows you to make repayment through a wire transfer and doesn’t give other options.
- 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.
Receiving a call, email or letter from a company purporting to be a debt collector can spark alarm. Before disclosing any information, look for these eight signs of a fake debt collection scam. 1 ...
Sep 29, 2020 · Get the name of the collector, the collection company, its address, and phone number. 2. 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. 3. Don’t ...
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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 ...
