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How to Spot Debt Collection Scams March 9, 2020

Downtown Honolulu, Honolulu
How to Spot Debt Collection Scams, Honolulu, Hawaii

When your finances begin to get out of control, you might wonder if there are easy debt relief solutions. Unfortunately, this presents an opportunity for dishonest people to try to take advantage of your dilemma. Learn how to recognize common debt collection scams, so you don’t fall for their tricks.

3 Ways to Recognize Debt Relief Scams

1. Pressure to Commit

A genuine creditor is interested in helping you pay what you owe to help them balance their accounts. They’ll provide debt relief options that won’t force you to take drastic measures. 

On the other hand, a scammer will pressure you to commit, using scare tactics to get you to make a payment quickly. If you feel you’re being coerced into making a payment over the phone, hang up.

2. Limited Payment Methods 

Debt ReliefA scammer may decline to accept a check or credit card payment, instead urging you to make a wire transfer or money order. These methods of payment are untraceable, so once the payment has been made, there’s no way to find out where the money went and no way to cancel payment.

3. Request for Data

If a debt collector calls you and asks for account information, be wary about telling them anything. They may claim the questions are intended to verify your identity. While legitimate companies may ask you to verify your name, address, or telephone number, anything more than that should send up red flags.

 

When you’re seeking financial stability, turn to Greg Dunn, Bankruptcy and Debt Relief Attorney in Honolulu, HI. He has more than 25 years of experience helping clients get out from under debt and has successfully pursued more than 12,000 bankruptcy petitions. To discuss your situation, schedule a free consultation online or by calling (808) 524-4529 today.

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