How to spot Scams in Debt Collection

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How to spot Scams in Debt Collection
Be aware of scams, safeguard your details and notify authorities if you are contacted by frauds to collect debt.
Written by Sean Pyles Senior Writer | Personal finance and credit, and personal finance Sean Pyles leads podcasting at NerdWallet as the host and producer of the NerdWallet's "Smart Money" podcast. On "Smart Money" Sean talks with Nerds from the NerdWallet Content team to answer listeners' personal finance questions. With a focus on shrewd and practical advice on money, Sean provides real-world guidance that will help consumers improve the financial situation of their lives. Beyond answering listeners' money concerns on "Smart Money," Sean also interviews guests outside of NerdWallet and produces special segments that explore subjects such as the racial gap in wealth, how to start investing, and the background of college loans.
Before Sean took over podcasting for NerdWallet, he covered topics related to consumer debt. His work has appeared on USA Today, The New York Times and other publications. When he's not writing about personal finances, Sean can be found digging around his garden, going on runs , and taking his dog for long walks. Sean is located within Ocean Shores, Washington.





Aug 5, 2021


Editor: Kathy Hinson Lead Assigning Editor Personal finances, credit scoring managing money and debt Kathy Hinson leads the core personal finance team at NerdWallet. Previously, she spent 18 years at The Oregonian in Portland in roles including copy desk chief and team editor and designer. Previous experience included news and copy editing for many Southern California newspapers, including the Los Angeles Times. She received a bachelor's degree in mass communications and journalism in Iowa's University of Iowa.







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If you're receiving threats on phone calls regarding the payment of a debt, even if it's one you know, you may be the victim of a debt collection scam.
Here are the best ways to recognize and protect yourself from fraudulent .
Warning signs of debt collection scams
You might be getting a call from a fake debt collector if the caller doesn't identify the debt that you think you is due or if you hear the following:
Can't or won't provide detailed details about the debt as well as the original creditor.
They won't divulge any information about the agency the person claims to represent, including the name, address and phone number.
Utilizes aggressive tactics to force you into immediate payment.
Requests payment via phone.
Requests sensitive information including information about your account at a bank, your Social Security number or your debit or credit card numbers.

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Common scams
It's simple to spot a scam in which people attempt to collect the debt you aren't familiar with or believe that you don't owe. False debt collectors have a variety of methods of obtaining your personal information, and they hope to get you to make a quick payment via a cold-call.
Some are more difficult to identify, for instance, scammers who attempt to get a hold of a debt you owe. Scammers could look through your credit report to determine who you owe money for instance, and then call pretending to represent those creditors.
Threats of police action as well as abusive speech are telltale signs of a scammer, according to the . It is not possible to be arrested for debts and it's not a good idea to mislead consumers regarding what happens if you don't pay debts. Debt collectors who are legitimate tend to tread very carefully in this area.
Another red flag: someone claiming to represent someone from the Internal Revenue Service and seeking immediate payment. The tax collection agency of the government is not going to demand you pay in a matter of minutes by phone or ask for a credit or debit card number. Both are indicators of . But be aware that the IRS in 2017.
Like any other debt, you should request a validation letter -- a document that outlines the details of the debt before doing anything.
What do I do?
Think before you act when . However, you should take these specific steps if you believe that the caller is trying to fraud you.
Get information
Begin by collecting information about the debt collector as well as the debt. Request a confirmation letter. True debt collectors will send you this information immediately without question. Any hesitation is an indication of a fraudster.
Ask the caller for his or her name , employer, along with its telephone number as well as street address. If the person calling you won't provide you this information, that's an indication of a red flag.
Guard your personal information
Whatever the way the debt collector you are considering asking to contact you, do not divulge or provide information about your bank account as well as debit or credit card numbers, or Social Security number. Doing so could put you at risk for identity theft or let fraudsters steal money from your account.
Contact the creditor who originally made the offer.
If you think a scam debt collector has reached you to pay the debt you owe you, inquire with the creditor who originally made the contact whether it has sold your debt and for details on the contact number from the collector agency that owns it.
Do not answer the phone.
Refraining from receiving repeated calls is one of the most effective methods to get the scammer off your shoulders. Do not hesitate to call back when you're faced with harassment or threats, and don't answer callbacks. Since scammers are looking to make quick money off an easy target, they're not likely to stay with you long before going on.
If you're dealing an authentic debt collector You'll have to devise a strategy to .
File a complaint
Don't hesitate to file a complaint with the state or the government If you believe that a scam debt collector has called you. Gather all information you can , and then include the information as a formal complaint.



About the author: Sean Pyles is the executive producer and host of NerdWallet's Smart Money podcast. His writing has been featured on The New York Times, USA Today and elsewhere.







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