This scam originally targeted borrowers in the United States but has been used in other countries. Victims are those who use or used payday loans, pawn your title loans, or variations of such short term loans. Preventing the scam is easy if you know who you owe money to.
Recently the news told about the multi state mortgage servicer nationwide settlement. That was true, and mortgage servicers agreed to pay a total of $25 million (USD). Unfortunately, as soon as the deal between the states and the mortgage servicers was announced, scammers invented the Mortgage Settlement Scam. Don’t fall for it.
This is the Older Men Scam. Women often receive warnings about protecting themselves at the mall and in dark parking lots, etc. This is the first warning I have seen for men. I wanted to pass it on in case you haven’t heard about it. A ‘heads up’ for those men who may be regular customers at Lowe’s, Home Depot, Costco, or even Wal-Mart. This one caught me totally by surprise.
Debt collection has never been a savory business but new debt collection scams don’t make the landscape any better. The Arizona Attorney General reported a new debt collection scam this week. This one seems to be a phishing scam.
Debt settlements are accounts receivable for the company. A huge credit card balance packed with late fees and overlimit fees may be a pain in the ass for card holders. The jump is made from creditor to collections. Yes, your credit card company may call you every day, but when does the credit card company give up?