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 | anonymous 2013-01-07 19:16:02 Unknown |
In recent years, third party debt collectors have been buying up old debt for pennies on the dollar and telemarketing collection calls to debtors to get what they can from their "investment". This old debt is sometimes legit, sometimes not (expired statute of limitations for example). In parallel, scammers have also been making extortion calls using bought/stolen/phished loan data, sometimes to debtors who may or may not have already paid off their debt, sometimes to random people, while pretending to be legit debt collectors. Problem is, both employ similar tactics to scare debtors/victims into paying legit/fake debts. If you don't have debt, you know for sure your caller is a scammer. If you have debt, you have to figure out whether it is a legit third party collector or a scammer -- not a comfortable position to be in but here's how you can perhaps tell the difference:
The FDCPA http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre27.pdf treats the INITIAL CONTACT between collector and debtor (first call, first letter, first whatever) as a special event. Legit collectors per section 809 of the FDCPA *must* tell you at initial contact, or send you paperwork within 5 days of initial contact, the following:
1. $amount of debt,
2. name of the current creditor (which may differ from the original creditor who might have sold your debt),
3. a statement that that debt will be assumed to be valid unless you dispute in writing within 30 days,
4. a statement that that if you do dispute in writing within 30 days, the collector must mail you written verification of the debt,
5. a statement that if you ask the collector in writing within 30 days, the collector must send you the name and address of the original creditor if it's different from the current creditor.
If you don't get the 5 disclosures, orally or in writing (you do not have to ask for them, the FDCPA requires collectors to provide them), treat the collector like you would any SCAMMER.
Note that 3,4,5 must be done *IN WRITING* so you will need to ask an address from your collector. If s/he refuses to give you one for any reason, treat the collector like a SCAMMER.
The collector can threaten court action at initial contact but the FDCPA requires that the collector actually take you to court if the collector threatens it. Threatening court and not going through with it (coercion) is illegal.
If they say the FDCPA does not apply to them because they own your debt, the debt-owner exemption only applies to the original owner. A 3rd party who buys the debt for the purpose of collecting debt is treated as a debt collector and not an owner and must obey the FDCPA as explained in this FTC Staff Opinion letter here http://www.ftc.gov/os/statutes/fdcpa/letters/arbuckle.htm
You can tape phone calls per your state law described here http://www.fairdebtforconsumers.com/Recording-Laws-Summaries.html
You can tape, then sue collectors (google "fdcpa attorney") for violations described in sections 805, 806, and 807, per section 813 of the FDCPA.
Has the statute of limitations for your state http://www.fair-debt-collection.com/SOL-by-State.html expired on your debt? If expired, don't pay.
Collectors generally have to be licensed by your state to practise (collect debt) in your state and you can find out by calling your state Attorney Generals Office. Ask if a license is required and does this collector have one. If not licensed, don't pay and file a complaint with your state AG.
Read useful debt-collection FAQs from the FTC here http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre18.shtm
The debt collection process explained in plain English http://www.consumeraffairs.com/debt/fdcpa.html
Be aware that scammers are using bought/hacked/phished loan application data to extort payments for fictitious debts from victims and victims' families and friends.
The FBI warns about payday loan extortion scams here http://www.fbi.gov/news/pressrel/press-releases/paydayloanscam_120710
The FBI warns again http://www.fbi.gov/news/pressrel/press-releas ... nt-payday-loans
The BBB has issued several alerts on this scam, just google "bbb.org alert phony debt collector"
Report to the Internet Crime Complaint Center http://www.ic3.gov/complaint/default.aspx , the Federal Communications Commission http://esupport.fcc.gov/complaints.htm , the Federal Trade Commission https://www.ftccomplaintassistant.gov/ and your state AG http://www.naag.org/current-attorneys-general.php as appropriate.
The FDCPA http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre27.pdf treats the INITIAL CONTACT between collector and debtor (first call, first letter, first whatever) as a special event. Legit collectors per section 809 of the FDCPA *must* tell you at initial contact, or send you paperwork within 5 days of initial contact, the following:
1. $amount of debt,
2. name of the current creditor (which may differ from the original creditor who might have sold your debt),
3. a statement that that debt will be assumed to be valid unless you dispute in writing within 30 days,
4. a statement that that if you do dispute in writing within 30 days, the collector must mail you written verification of the debt,
5. a statement that if you ask the collector in writing within 30 days, the collector must send you the name and address of the original creditor if it's different from the current creditor.
If you don't get the 5 disclosures, orally or in writing (you do not have to ask for them, the FDCPA requires collectors to provide them), treat the collector like you would any SCAMMER.
Note that 3,4,5 must be done *IN WRITING* so you will need to ask an address from your collector. If s/he refuses to give you one for any reason, treat the collector like a SCAMMER.
The collector can threaten court action at initial contact but the FDCPA requires that the collector actually take you to court if the collector threatens it. Threatening court and not going through with it (coercion) is illegal.
If they say the FDCPA does not apply to them because they own your debt, the debt-owner exemption only applies to the original owner. A 3rd party who buys the debt for the purpose of collecting debt is treated as a debt collector and not an owner and must obey the FDCPA as explained in this FTC Staff Opinion letter here http://www.ftc.gov/os/statutes/fdcpa/letters/arbuckle.htm
You can tape phone calls per your state law described here http://www.fairdebtforconsumers.com/Recording-Laws-Summaries.html
You can tape, then sue collectors (google "fdcpa attorney") for violations described in sections 805, 806, and 807, per section 813 of the FDCPA.
Has the statute of limitations for your state http://www.fair-debt-collection.com/SOL-by-State.html expired on your debt? If expired, don't pay.
Collectors generally have to be licensed by your state to practise (collect debt) in your state and you can find out by calling your state Attorney Generals Office. Ask if a license is required and does this collector have one. If not licensed, don't pay and file a complaint with your state AG.
Read useful debt-collection FAQs from the FTC here http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre18.shtm
The debt collection process explained in plain English http://www.consumeraffairs.com/debt/fdcpa.html
Be aware that scammers are using bought/hacked/phished loan application data to extort payments for fictitious debts from victims and victims' families and friends.
The FBI warns about payday loan extortion scams here http://www.fbi.gov/news/pressrel/press-releases/paydayloanscam_120710
The FBI warns again http://www.fbi.gov/news/pressrel/press-releas ... nt-payday-loans
The BBB has issued several alerts on this scam, just google "bbb.org alert phony debt collector"
Report to the Internet Crime Complaint Center http://www.ic3.gov/complaint/default.aspx , the Federal Communications Commission http://esupport.fcc.gov/complaints.htm , the Federal Trade Commission https://www.ftccomplaintassistant.gov/ and your state AG http://www.naag.org/current-attorneys-general.php as appropriate.
| cesar 2013-01-07 18:29:29 Debt Collector |
The company monarch and associates call my wife cellphone when I'm going to be home to serve me papers. They told me that 45 days ago they sent paperwork to my home. . I did not receive any paperwork.
That they are going to take me to court if I do not pay the legal fees. Because I panic I give and they can take i and they can take it Friday but I. So I can look more information about this company and I found out that they do not exist. I call the person that fixing my credit that should . . Every time they try to call me the number in my phone it says no caller ID.
That they are going to take me to court if I do not pay the legal fees. Because I panic I give and they can take i and they can take it Friday but I. So I can look more information about this company and I found out that they do not exist. I call the person that fixing my credit that should . . Every time they try to call me the number in my phone it says no caller ID.
| ted 2013-01-06 19:17:03 Unknown |
Are you kidding me!! You gave your account info over the phone!! Never EVER!! do that. These are scumbag!! debt collectors that will tell you anything to collect!! This is what they are trained to do!! instill fear in you and make you pay up!! You need to get another checking account..cancel your current one a.s.a.p. !!! and dont ever do that again!!
| April 2013-01-05 19:07:11 Unknown |
I received a call yesterday at my place of work regarding a old Visa account. They claimed it had been charged off since August 2008 from the original creditor, Legacy Visa. They stated that if i was calling this number i had already been served with papers. This was news to me! They said i had been served 45 days ago. And there had been additional correspondence sent to me BEFORE this. They had the correct mailing address but why hadn't i received anything?? They said since 2008 my account had accumulated interest at 33.9 %. OMG! They were sueing me. I panicked and in a effort to resolve things i agreed to giving my checking account # etcc. But, now i regret it due to my panick & fear because honestly i don't remember anything about this account even before the alleged 2008 charge off. Now they have my info and i'm worried that something greater will happen THAN being sued..Are they legit 'cuz they deducted money from my account today but no confirmation email etc. has been sent to me...
| Randy Baker 2012-12-28 01:35:46 Debt Collector |
This possibly was a call to threaten in order to collect a credit card debt from 2007. Is it or not?????
| Don't call again 2012-12-08 18:42:01 Unknown |
I don't know who would be calling someone else concerning me from this number. Please refrain from calling others concerning or I will find out who you are and press charges. Thank you so much in advance.
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