Advisory: How to Protect Yourself Against Debt Collection Scams – Video

It’s important for consumers to know how to identify debt collection scams and how to protect themselves. That’s why, I recommend you to take a look at the latest video advisory released by Scambook.

In such schemes, con artists – pretending to represent debt collection agencies – call up individuals and inform them that they’re past due on their loan payments, or that there has been a payment processing issue.

So what can you do to protect yourself against such scams?

First of all, never give the caller any personal information, even if they’re threatening you with legal actions.

Secondly, ask the caller to give you their information. If you can get their name, location and phone number, you can help law enforcement in tracking down the culprits.

After receiving such calls, check out your bills and contact the financial institution to see if the call really originated from them. They’ll be able to provide you with detailed information regarding your finances.

Finally, always report such scam calls. You can file complaints with the FTC, the State Attorney General and even on Scambook. If you’re threatened with violence, the police must be called immediately.