Four Ways to Stop Debt Collection Scams

Having significant debt to pay back is scary enough, but things get even more challenging when you face the possibility of debt collection scams conning you into giving away your hard earned cash. People all over the United States are experiencing situations where scammers and con-artists pretend they are debt collectors in order to take thousands of dollars out of peoples’ bank accounts. Sometimes these people do not even owe any money, while other times the fake collectors can get their hands on your genuine bills and threaten you through those means.

It is easy to shrug off this news and say you would never be fooled. However, these scammers are really good at what they do, and many good people have been duped in the past. Here is a look at four ways you can ensure that you are never the victim of a debt collection scam.

1. Ask Questions It is easy to get scared when the other person on the phone says they are a debt collector. It is our natural instinct to panic and question whether we have any unpaid debts. Perhaps you do have debts that need paying, and you are worried they might start garnishing your wages. However, it is very important to take a stern tone with these callers and ask questions of your own. If they are really debt collectors, they will know your social security number and other personal information. They can also tell you who they work for and how you can contact them directly through a business phone number.

2. Status It is easy to look up the name and address of debt collection businesses. Sometimes scammers will take over the address and/or phone number of an old collection agency. If you go online, you can probably find details about whether that agency is still active. If they are not, or their website has not been updated in years, you are probably being scammed.

3. Validation Notices This notice indicates how much money you owe and the names of the specific institutions that are owed the money. Tell the collect or you cannot pay any money until you know for sure who is owed what.4. Credit Checks It is easy to get your credit score and full credit report these days, with many reputable online sites offering this service. Simply check your report to see if the mentioned debts are present. If they are not, you may begetting scammed. If you are receiving harassment from debt collectors SM Law group can help. Call us today for a free consultation.