Jun 302014

Debt Notices and Phantom Debts


When you receive an unexpected Collection Letter or a threatening phone call it can be very intimidating, especially when you know that you don’t owe money to anyone that has gone into 3rd party collection.


Receiving a letter or phone of this nature can be very stressful – Keep Cool, Calm and Collected and pretend to work with them…..




These documents or callers can have your name, address, Social Security Number and even Your bank account number  with an office seal, signed by a judge etc…don’t panic it’s a scam!!!



It is a new twist on an old scam; criminals impersonating law firms, judges, and court officials.

Their sole purpose is to convince you to send them money!


Take ALL their contact information and plus details about debt and arrange for a 24 hour grace….



Take note of these alerts:

  • seeking immediate payment on a debt for a loan you do not recognize
  • not providing a mailing address or phone number; that you can check on
  • request for personal financial or sensitive information
  • threatening to take immediate legal steps, such as: to have you arrested or to report you to a law enforcement agency.

Here are some tips how to fight fake debt collectors:


  1. 1.       Ask them to properly identify themselves, obtain the following information about the organization: Ask the caller for his name, company, street address, and telephone number.


  1. Request for a “validation notice” do not discuss any details about the debt in question until you receive the following information in writing: The amount of the debt, the name of the creditor you owe, and your rights under the federal Fair Debt Collection Practices Act and Your State Laws.


  1. Try to speak as little as possible, if you have been able to obtain the caller’s mailing mail a letter (registered/certified if want to spend the money) demanding an immediate stop to these calls, and keep a copy for your files. If, they are real debt collectors they must stop calling you if you make a written request. This is the law!


  1. Never give out personal or sensitive information like your bank account, credit card, or Social Security number unless you have absolute confidence with whom you are dealing with. Remember, this information can be used to commit identity theft.


  1.  Contact your creditor and alert them about the situation, if the debt is legitimate but you have your doubts about the collector. Discuss the details of the suspicious call or letter and find out whom, if anyone, the creditor has authorized to collect the debt.


  1. Contact the LAW – you can contact your state Attorney General’s office regarding suspicious collections letters or calls. Many states have their own debt collection laws in addition to the federal FDCPA – determine your rights under law.



Check your Credit Reports from Equifax, Trans Union and Experian at least twice a year!


This article has been brought to you through the courtesy of:



Demystifying Credit – credit cards, line of credit, overdraft protection and loans


If, you LIVE in AMERICA you have to know the rules that govern the credit world




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