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Fake debt collection is one of many all-too-familiar text scams. However, sometimes scammers will use an existing business's name and information to fake legitimacy.
8 warning signs of a debt collector scam. ... Contact the original creditor. If you’re still suspicious, contact the creditor the debt collector claims to represent. ... Check your credit report ...
And the situation in the U.S. is even bleaker, with the Federal Trade Commission reporting Americans lost more than $10 billion (USD) from financial fraud in 2023. While some scams are obvious ...
Getting a call from a phony debt collector trying to scam you out of money you don't owe can be even worse. ... which called itself American Credit Crunchers, took in more than $5 million in two ...
Debt relief scams: Some criminals target those seeking help with credit card debt. Make sure that you know how to identify a debt relief scam, such as guarantees that you will qualify for debt ...
Since its launch in 2011, the CFPB has distributed more than $3.3 billion to consumers harmed by a range of illegal practices, such as student loan and mortgage relief scams and predatory lending.
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.
Of course, the checks are forged or stolen and the con-artist never makes the trip: the hapless victim ends up with a large debt and an aching heart. This scam can be seen in the movie Nights of Cabiria. Variants of these employ bots or even live people who offer to go to live cam sites to video chat with the mark.