Consumer Law

Debt Collection Scammers Often Worse Than the Real Thing

By Randall Ryder

The Better Business Bureau (BBB) has put out an emergency alert regarding bogus debt collectors that have recently been praying on consumers. The fake debt collectors are often just as nasty as real debt collectors can be, if not worse.

If you are contacted by a debt collector and think it is a scam, here are a few tips:

1. The Financial Accountability Association and the Federal Legislation of Unsecured Loans are not real businesses.
2. Even if someone provides you with your bank account number or your social security number, they may be a scam artist. The BBB recommends either hanging up or demanding the debt be proven in writing.
3. If you believe you have been contacted by a scam artist, put a fraud alert on on your credit report by contacting the major credit bureaus, Experian, Equifax, and TransUnion.
4. Request a free copy of your credit report and carefully check it over (checking your credit report regularly is always a good thing to do).
5. Contact the BBB or the Federal Trade Commission to inform them of the fraudulent activity.

Bogus Debt Collectors Sweep the Country | CBS

(photo: kandyjaxxx

Full post as published by Caveat Emptor on August 17, 2009 (boomark / email).