Wednesday, April 06, 2016

Debt collectors still going after people for non-existing loans


I recently saw a social media posting from a friend (in New York State) saying he was getting calls from a South Carolina collection agency for a bank loan from a bank with whom he had never had an account, and from a retirement financial planning service he had never used.  It was difficult to tell if these were phone calls or emails.  There are details on Yelp.

I often get collection emails from “banks” with who, I have no connection, and mark the emails as spam without opening (probably laced with malware). It is possible, however, that a bank contacting a consumer could have bought another bank with whom the consumer had done business, or could have bought the debt.

Consumers should remember that, by FDCPA, they always have a right to dispute invalid debts from debt collectors after which a collector cannot legally continue contacting them.
 
I wonder about these gray line-of-credit cards I get in the mail, unsolicited.  What if I got contacted for a loan I had never taken out?

1 comment:

Bill Boushka said...

I did get a comment from a "single mom" in Singapore (5 times) asking for a $250000 loan. I've never seen a comment like this before. I marked it as spam -- alrhough kiva loans for overseas businesses are legitimate and may be a good way to help. I'll look into those later.