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How to Spot Debt Collection Scams
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How to Spot Scams in Debt Collection
Learn to recognize frauds, be aware of your personal information , and inform authorities in the event that you encounter frauds to collect debt.
by Sean Pyles Senior Writer | Personal financial, credit, and personal finance Sean Pyles leads podcasting at NerdWallet as the host and producer of NerdWallet's "Smart Money" podcast. In "Smart Money" Sean talks with Nerds across the NerdWallet Content team to answer listeners' personal finance questions. With a focus on shrewd and actionable money advice, Sean provides real-world guidance that can help consumers better in their finances. Beyond answering listeners' money concerns on "Smart Money" Sean also interviews guests outside of NerdWallet and also creates special segments that explore subjects such as the racial gap in wealth as well as how to get started investing and the background of college loans.
Before Sean lead podcasting at NerdWallet He also covered issues concerning consumer debt. His writings have appeared throughout the media including USA Today, The New York Times and other publications. When Sean isn't writing about personal finance, Sean can be found working in the garden, taking runs and taking his dog on long walks. Sean is located at Ocean Shores, Washington.
Last updated Aug 5, 2021 at 2:48 PM PDT.
Edited by Kathy Hinson Lead Assigning Editor Personal financial, credit scoring, financial management and debt Kathy Hinson leads the Core Personal Finance team at NerdWallet. In the past, she worked for 18 years at The Oregonian in Portland in positions such as copy desk chief and team editor and designer. Previous experience included writing copy as well as news editing for many Southern California newspapers, including the Los Angeles Times. She received a bachelor's degree in mass communication and journalism in Iowa's University of Iowa.
A majority of the products we feature are provided by our partners, who pay us. This influences which products we feature and the location and manner in which the product appears on the page. But, it doesn't affect our assessments. Our views are our own. Here's a list and .
If you're receiving threats on phone calls concerning an outstanding debt even if you recognize, you might be the target of a debt collection scam.
Here are the best ways to identify and defend yourself from illegitimate .
The red flags for debt collection scams
You could be receiving an unwanted call from a debt collector if you do not recognize the debt you supposedly owe or if the caller:
Don't have or aren't willing to provide complete information about the debt and original creditor.
We won't provide you with details about the organization he or she claims to represent, including name or address as well as phone number.
Employs aggressive tactics to press you into making a quick payment.
Requests payment by phone.
It asks for sensitive data including details of you bank account, your Social Security number or your debit or credit card numbers.
>> MORE:
Common scams
It's simple to spot a scam in which an individual attempts to collect the debt that you do not recognize or are aware of the fact that you don't owe. False debt collectors have a variety of methods of obtaining your personal information and hoping to pressure you into quick payment by making a cold phone call.
Others can be trickier to detect, such as a scammer who tries to collect on a debt that you actually have to pay. Scammers could look through your credit report in order to discover whom you owe money to, for example or call pretending to represent these creditors.
Threats of police action and aggressive language are indications of a fraudster, according to the . You can't be arrested on a debt and it's not a good idea to mislead consumers regarding what happens if you don't pay a debt. Legitimate debt collectors tend to be very careful in this field.
Another red flag is someone claiming as representing someone from the Internal Revenue Service and seeking immediate payment. The IRS, the tax collection agency of the federal government, is not going to demand you pay immediately by phone or ask for a debit or credit card number. Both of those are signs of . Be aware, however, that the IRS in 2017.
For any debt, you should request an official confirmation letter -which is a document that details the details of the debt -- prior to taking any action.
What to do
Consider your options before you take action . Take these steps if you think the person calling you is trying to fraud you.
Get information
Start by gathering information about the debt collector and the debt. Request a confirmation letter. True debt collectors will send you this information immediately without delay. Any hesitation is a sign of a scammer.
Request the caller's or her name and address, along with the name of their employer, and its phone number as well as street address. If the person calling you won't provide you this information, that's an indicator of trouble.
Protect your personal information
Whatever the way a potential debt collector asks, don't give away or confirm details of your bank account, credit or debit card numbers, or Social Security number. If you do, you could be at risk for identity theft or let fraudsters steal money from your account.
Contact the original creditor
If you suspect that a fraudulent debt collector has called you regarding payment for the debt you owe, ask the original creditor whether it has sold your debt and for the contact information for the collection agency who owns the debt.
Ignore the calls
Refraining from receiving repeated calls is one of the most effective methods to get the scammer off your shoulders. Do not hesitate to leave in the event of harassment or threats or threats, and do not answer calls. Since scammers are trying to make a quick buck by stealing an easy victim, they're unlikely to keep you on their radar for many hours before moving away.
If you're in contact with a legitimate debt collection agency, however, you'll want to come up with a plan for .
File a complaint
Do not be reluctant to file a complaint with the state or your state if that a debt collector who is scammed has contacted you. Collect all the information you have and put the information as a formal complaint.
The author's bio: Sean Pyles is the executive producer and host of NerdWallet's Smart Money podcast. His writing has appeared on The New York Times, USA Today and elsewhere.
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