Phony debt collectors

Allegedly, there are phony debt collectors trying to get money out of consumers.

The Better Business Bureau thinks it’s a data breach. I’m not saying that this is not going on, but can they confirm that victims do not have any payday loans currently outstanding. Regardless of the validity of this claim, the collection tactics are totally out of bounds:

“…accuse the victim of defaulting on a payday loan and claim they are being sued. The phony debt collector threatens that, if the victim doesn’t pay as much as $1,000 immediately via wire or by providing bank account or credit card numbers, he or she will be arrested and extradited to California within the hour to stand trial. The scammers often have the victim’s Social Security, old bank account numbers or driver’s license numbers as well as home addresses, employer information and even the names of personal friends and professional references.”

Payday loan leads, more than any other lead, are being resold. What’s the solution? I don’t know.

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