Are You Being Scammed? Use These Strategies to Protect Yourself from Credit Collections Fraud

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When your debt is charged off by and company they turn it over to a collections agency, it is added to a list that is later sold to other collection agencies. These collection agencies then try to collect the debt and have to follow the fair debt collection act to say in business. That’s legal! Other unscrupulous individuals and organizations hack and troll the internet to get this information and then try to collect the money with no intention of ever sending it to the original creditor. That’s illegal and that is credit collections fraud!

Some Credit Collection Fraud Examples…

Example 1: A company calling itself FBR made a collection call to someone who at one time owed a certain debt. A fraudulent person called and told them that the debt was still due, that a sheriff was coming by to serve them papers, and that they were going to have their wages garnished. After a debt coach was contacted for help, Randy found that the debt as in fact paid and discharged, that a sheriff was not coming and there was no way a garnishment could be made on a debt that was already paid. If the person would have paid this fraudulent person or organization they would have been tricked and probably would never see the money again.

Example 2: A fraudulent company or organization found out about a debt that was owed. They also found out who the family members of the debtor were. They called and spoke in detail about the person who owed the debt and were trying to get the debt paid. A collections agency can never speak about a debtor to a 3rd party. That was the first red flag that this was a fraud in action.  Again, if the family members would have paid, they would have never seen the money again and it would have helped their family member with their debt.

Strategies to Not Become a Victim of Credit Collections Fraud

  1. Remain Calm and Don’t Act Quickly – A criminal will try to make the situation urgent so you don’t think it through
  2. Do Your Homework – Check to make sure you do owe the debt. Check with a family member or  friend if they do owe the debt. Get the name and company of the caller and go to the FTC to see if they are for real. Check the number they called with on the internet to see if it can be associated with a real company or if it has complaints associated with the number.
  3. Contact a Professional Credit Counselor – Call Randy Williams at A Debt Coach and He’ll get to the bottom of it for you!

A Debt Coach offers credit counseling services to people who are experiencing credit and debt problems! We create customized plans with your budget in mind and deal directly with your creditors. No gimmicks, no funny business! Both the Government and your creditors are happy that we are here to help you solve your financial problems. 

Contact us (888-767-9155) today to get started!

About A Debt Coach

logoA Debt Coach is a Non-Profit Credit Counseling Agency that helps consumers find options available for the financial problems they face. We offer credit counseling services to clients across the country who are experiencing credit and debt problems. A Debt Coach offers one of the most beneficial debt consolidation programs in the nation and we have provided counseling and advice to more than 200,000 consumers since 1992.
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Did you know that A Debt Coach provides free financial education and advice?We provide the advice so that people can get their lives back in order! The free education starts by downloading our free “Own Your Life” ebook.

Everyone who downloads the book will be approached to start the “Budget Bootcamp” with Randy after you read the book! Randy will help you create the best budget for your situation and put you on a glide path towards being totally debt free!

Posted in Collections Fraud.