{"id":1101,"date":"2020-10-23T16:33:53","date_gmt":"2020-10-23T16:33:53","guid":{"rendered":"https:\/\/fraud.flywheelsites.com\/?p=1101"},"modified":"2020-11-09T07:30:41","modified_gmt":"2020-11-09T07:30:41","slug":"phantom-debt","status":"publish","type":"post","link":"https:\/\/fraud.org\/phantom-debt\/","title":{"rendered":"Phantom debt"},"content":{"rendered":"
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The phantom debt collection scam comes in a number of variations, but the common element in almost all of them is a claim that a consumer owes money on a debt and needs to pay or else face serious consequences.\u00a0Regardless of whether the consumer actually takes out a loan, he or she may receive a call later demanding money be paid.<\/p>\n<\/div>\n

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Stay safe. Be Informed.<\/h4>\n
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Often, the scam begins when a consumer inquires about a payday loan or other short-term credit online or over the phone. The Web site or phone number that the consumer contacts may or may not be associated with a legitimate lender. \u00a0Since consumers interested in payday loans are often financially strapped, they may be susceptible to such demands whether or not they actually took out a loan.<\/p>\n

Even for consumers who do not have outstanding debts, the con artists are threatening and convincing and have led some consumers to wonder whether someone has taken out loans in their name. In cases where a consumer actually\u00a0does<\/em>\u00a0have outstanding loans, the scam artist may claim that the victim owes far more in fees and interest than he or she actually does. In other cases, the victim of the scam may be behind on a loan, but the caller has no authority to actually collect on the debt. No matter the consumer’s actual situation, skilled con artists are convincing them to hand over precious cash to settle the “debt.” Scammers often demand payment on these phantom debts via wire transfer, credit or debit card.<\/p>\n

Consumers who have been approached or have had co-workers or family members approached by debt collection scammers should keep the following tips in mind:<\/p>\n