Nowadays, fake debt collectors are a common in every state. If you turn on the news, you can bet to see a story about people losing money to companies or people who lied about their true identity. Moreover, you may have come across these fraudsters or know someone who has been contacted by them. These tricksters are in no mood to stop this trick and know that their naïve customers out there who will definitely fall into their trap. Funnily, they are only interested in people who love to take out payday loans.
The caller is angry, intimidating and despite their foul language they sound convincing. “You must make good your payments or else we‘ll garnish all your income.” He says with a lot of authority. If indeed you have a payday loan you need to clear, you might want to start questioning your memory if you missed any payment. Due to the fact the caller has your information it sounds legit considering the last thing you need is getting a short paycheck especially if you are already in a blind, so you decide to pay them to avoid getting in more a uncomfortable situation. The thing is, you have been scammed, and you don’t owe them a dime.
Such cases have been reported to be on the rise in recent times with callers threatening to collect full victim wages if they don’t comply and arrangements to settle the debt for significantly less than the money owed.
In addition, the callers don’t give the victim any proof of the debt even when asked but the calls are so convincing that many individuals fall prey and make the payments even when the don’t owe anything. More and more innocent individuals are falling for this scams losing a lot of money in the process.
How do I stand up to scammers? You may ask. Well here are a few tips to assist you:
- Ask the caller for his full names and company they are representing. Ask for a validation notice or notification and if they don’t deliver, hang up the phone.
- Ask them to put their request in writing
- Don’t disclose any personal, financial information with them
- Contact your creditor using the contacts provided by them
- Report to the call to your nearest police station and authorities and file a complaint against them with the information about the suspicious calls.