It wouldn’t be breaking news to hear about a new way people are trying to scam fast payday loans online customers. From individuals, teams spread across the world or actual dishonest lenders, there are money scams to be found everywhere. By no means are they exclusive to the short-term industry. The latest in fake collection calls does target those in debt.
Pay close attention to the details in order to avoid getting caught in the scam yourself.
Know your debt situation. If you actually have an outstanding payday loan you will need to pay closer attention to how the scam works. If you have no such debt, just hang up. Don’t ever give out information that they can use in anyway. The callers are identifying themselves as “Federal Investigators”. If your payday loan is past due, you will get phone calls from people trying to collect, but it is a sure bet that the FBI isn’t the one going to make the phone call.
What are these callers saying about payday loans debt?
-First off, the callers identify themselves as Federal investigators monitoring online activity.
-They are aware of your debt and want a wire transfer or pre-paid debit card for the outstanding balance and more. These two money option are requested because they cannot be tracked or taken back. It’s like sending cash. If you think you do owe a payday loan company, hang up the phone and call the company directly. it is the only way you can clear up the debt before it goes to real collections.
-If the caller threatens you, it is important to report the call to the police. It is against the law for any type of collections agency to threaten or harass debtors.
-Just because the caller ID seems believable, don’t assume it is correct. Caller ID spoofing is not new. Scammers have covered their bases and have been known to misrepresent themselves as police, companies and even immigration authorities.
-Ask the caller to provide evidence of so-called debt. If they threaten to put you in jail, hang up and call the police. The caller must be able to provide a notice that includes debt information, company owed and a statement of your rights regulated by the Fair Debt Collection Practices Act. Hang up if the caller rejects your request.
Another tip to handle callers is to ask for a call back number. if the caller is genuinely who they say they are, there should be no problem giving you their name and contact information. This will give you an opportunity to place the call back and find out if it is truly a legitimate business. It doesn’t fully protect you from well-planned fake collectors but it will get plenty of callers to hang up on you.
Don’t get talked into thinking you have outstanding debt. Is a few hundred dollar loan payment truly going to get the FBI calling you? Jot down as much information as you can while you are on the phone with them. The police will want to know everything.
