Ask for a “Verification Notice” to Uncover a Debt Collection Fraud
If you’ve been in debt for a while, you’ve probably received a lot of annoying phone calls from debt collection agencies. But not all of these calls are legitimate. If you’re not careful, you can fall for debt collection scams. When talking to a collector, be sure to ask for a “verification notice”.
Before paying off any type of debt, you should consider several factors . But before you even start negotiating with a collection agent, make sure they are not a scammer. Some scammers find your information online and then call you impersonating collection agents. We’ve asked you a few questions , but Consumer Reports adds that this also helps in requesting a “verification notice.”
Even if the caller gives plausible answers, request a “confirmation notice” to verify the debt. The notice, which must be sent within five days of initial contact, must include the amount owed, the name of the creditor, and a description of your rights in accordance with federal fair collection practices. The Consumer Financial Protection Bureau has sample letters of inquiry . Refuse to discuss any debts until you receive a notification.
And if you’re convinced it’s a scammer, consider contacting the FTC. We have more information about the debt confirmation request here . And for more details on how to avoid fraud, check out the full post at the link below.
Protect Yourself From Debt Collection Fraud | Consumer reports