Debt collection tactics, even the perfectly legal ones, can be extremely aggressive. If you owe money and are past due on your accounts, you likely have already felt the pressure of being contacted by mail and phone by determined debt collection agents who earn a commission on every dollar they manage to squeeze from you. Your financial situation may even be bad enough that you are thinking of declaring bankruptcy. You should know that your compromised financial state could make you vulnerable to a new breed of debt collectors: fake debt collectors. Read on to learn how to protect yourself against these financial predators.
Why Me?
Most debt collectors hack their way into your financial info or simply purchase the info for a fee. If you owe money, they simply assume the identity of your creditors. Since they know the exact names of your debt-holders and the amounts you owe, they have an air of legitimacy about them. The more creditors and money you owe, the more desirable you are to a fake debt collector.
Signs of a Fake Debt Collector
1. Threats of arrest. This common scare tactic comes on strong with threats of an immediate arrest if funds are not provided immediately. You should know that only the IRS can send you to jail (or actually prison) for unpaid debts, and you will have plenty of mailed correspondence from them before that actually happens. Take note that in some cases you can be sent to jail for unpaid child support, but you will likely not receive a phone call extorting money from you; you will simply be arrested and hauled away for this offense.
2. Non-traditional forms of payment required. The money that these fake collectors take from you must not be traceable, so credit cards and checks are out of the question. Often you will be ordered to send the money via wire transfer or money order. Real debt collectors will almost always accept checks and credit cards.
3. The contact information is sketchy. A phone call to the real debt owner should confirm the name of any legitimate debt collection agency who has been contracted by the creditor. A cell phone number and fake address should be red flags.
4. While legitimate debt collectors can be pushy, they will also be professional. Swearing, threats and poor grammar skills can reveal a fake collection agent.
If you are having trouble meeting your financial obligations, bankruptcy could mean the path to a fresh financial start. A bankruptcy filing will put an immediate end to all legitimate debt collection activity, giving you some much needed peace of mind. Contact a legal professional such as Curtis A. Anderson, Attorney At Law today for more information about getting some relief from your financial situation.
