Are you dealing with phony debt collectors? It's bad enough when a girl's over the limit on her credit cards thanks to that fabulous Coach bag she simply had to have or those priceless (or rather overpriced) leather boots. How do you know if you're talking to a real debt collection when you unsuspectingly pick up the telephone during dinner?
Recently
ABC news discussed fake debt collectors and how you need to protect yourself. Here are a few tips to make sure you're safe:
- If you took out a payday loan in the past, you're more likely to face phony debt collectors. They already know you needed money and may have sold your information to other agencies. The result is fake debt collectors ringing your phone to steal your identity or get you to admit to someone else's debts.
- This takes us to a second good point. Never, ever admit to a debt unless you're sure it belongs to you. Request verification of the debt in writing. According to the Fair Credit Reporting Act, you have the right to request proof of money you owe. Don't pay it or admit it's your debt unless you verify the facts.
- Request a copy of your credit report from the three major credit reporting agencies, Experian, Equifax and Transunion. Know what you owe so you can spot a phony debt collector right away.
When you get a handle on your finances, phony debt collectors don't stand a chance! After all, I'm not about to start paying off someone else's Coach bag...
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