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Debt Collection Scam

Debt collector claims you owe money for a product or service you’ve never received. They will sometimes pretent to be from the government. They are always aggressive and threatening. They want your credit card now. You can hang up and check your credit report. If a debt has gone to a debt collector, you should receive a formal, written notification in the mail. When you do receive such letters, hold on to them. You can refer to them should a scammer contact you.

The scammer wants you to believe that you owe them money and if you don’t pay them right now, you’re going to be arrested. Scammers almost always prefer nonreversible payment — think a prepaid card, money order or money transfer. That’s because these forms of payment can’t be traced, and scammers take off with your money with very slim chances of getting caught. Be on the alert if they ask for payment methods that seem out of the norm.
Click the play button below to watch a video example:
Click here to play the YouTube Video for this Senior Fraud Alert Scam Lesson
The first step is to identify the fraud. In the video above, were you able to hear the clues in the story and detect the Debt Collection Scam? The next step is to prevent the scammer from victimizing you or others. If you encounter a similar situation, use these tools to protect yourself from this type of fraud.
SPOT THE SCAM
Debt Collection Scam Clues
  • If the caller is pushing you to pay right now or else, they are using tactics to try and make you afraid to ask questions.
  • If they ask you to pay through a wire transfer or with gift cards, it is a scam.
  • If they won’t give you their contact information, it’s a scam.
STOP THE SCAM
Debt Collection Scam Defence
  • Ask questions. The first time they threaten you, hang up.
  • If they threaten you with arrest, hang up. It’s a scam.
  • Check your credit report. https://www.consumer.equifax.ca/ or https://www.transunion.ca/
  • Look up their phone number on the internet. If they are legitimate, they will have their phone number tied to a real business.
Now it’s your turn!

TEST YOUR DEFENCE AGAINST THE Debt Collection Scam

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