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A consumer inquires about a payday loan or short-term credit online and is asked for a long list of personal information. The lender is a shell firm; the loan might never be made, but the victim's personal information is now in the hands of scammers who sell it to a fraudulent collection agency.
Here’s how to find out if a debt collector is legit. Key takeaways. Scammers use texts, calls, emails and letters to create a false sense of urgency about debt repayment.
Which means you could pay the fake debt collector what you actually owe and still be left in debt to the actual company you owe money to. This fairly new problem seems to be growing.
Getting a call from a debt collector is bad enough. Getting a call from a phony debt collector trying to scam you out of money you don't owe can be even worse. The Federal Trade Commission ...
This is an accepted version of this page This is the latest accepted revision, reviewed on 2 March 2025. For satirical news, see List of satirical news websites. This is a dynamic list and may never be able to satisfy particular standards for completeness. You can help by adding missing items with reliable sources. Fake news websites are those which intentionally, but not necessarily solely ...
A debt buyer is a company, sometimes a collection agency, a private debt collection law firm, or a private investor, that purchases delinquent or charged-off debts from a creditor or lender for a percentage of the face value of the debt based on the potential collectibility of the accounts. The debt buyer can then collect on its own, utilize ...
The Fair Debt Collection Practices Act (FDCPA), Pub. L. 95-109; 91 Stat. 874, codified as 15 U.S.C. § 1692 –1692p, approved on September 20, 1977 (and as subsequently amended), is a consumer protection amendment, establishing legal protection from abusive debt collection practices, to the Consumer Credit Protection Act, as Title VIII of that Act.
Amid the tough economy, debt collection activity has intensified, with some debt collectors engaging in unfair, If harassing calls from debt collectors are keeping you from answering the phone ...