Debt Collector Vs Scammer- Understanding the Differences and Actions to Take

Scammers are present everywhere nowadays, and they have brought about revolutionary changes in their operational methods to make themselves look or sound genuine! Especially when it comes to debt recovery services, scammers are like those cunning villains who might pose themselves as genuine debt collectors but intend to steal your hard-earned money and disappear without any trace!

So, how can you spot the difference between a legit debt collector and a scammer? And what necessary actions should you take to protect yourself and your finances? This blog contains all the answers to those questions! Let’s explore till the end to find out.

Debt Collectors Vs Scammers- Spotting The Difference

There are a few things that differentiate a scammer from a genuine debt collector. And once you get hold of those warning signs, congratulations! You’ve officially made yourself scam-proof.

So, what are the red flags that differentiate a genuine debt collector from a scammer? Let’s take a look-

• When debt collectors from authentic professional debt recovery services establish contact, they would never hesitate to give you their credentials like their name, their company name, their official contact details, and their address. A scammer, however, would hesitate to provide you with these details.
• Genuine debt recovery services in Houston are entitled to accept payments in various forms. For instance, they will accept payments through their website, via checks, or through debit/ credit cards as well! Scammers, on the other hand, would rather insist on a single form of payment, which most often is an instant bank transfer.
• Debt collectors representing the best collection agency for small businesses would never coerce you into repayments. On top of that, they would offer you time to repay your debts.

Here’s where you can identify a scammer! They would always force you to repay your debts and would threaten you with jail time if you failed to keep your end of the bargain within the same day!

Genuine debt collectors are professionals, who would always try to preserve business-customer relationships at any cost. They know how empathy works, and how can it be channeled for the successful recovery of bad debts.

What Actions Should You Take?

If you’re harassed by scam calls, here are a few things that you might do to steer clear of such issues-

• Make sure to keep all the details and documentation of your debts including texts, emails, and phone records (if your state permits) of the collection agency.
• Before making payments, double-check to make sure that the debt is legitimate and is yours.
• If you identify a scammer, ignore their calls or texts, and block their numbers.
• Make sure to report the scammer by complaining to the Consumer Financial Protection Bureau (CFPB) Federal Trade Commission (FTC) or the attorney general’s office of your state.

Scams are very common in the debt collection industry. So, it is your responsibility to cross-check any calls or emails regarding repayments, and make sure that you’re speaking with a legitimate party to stay out of trouble! And remember, genuine agencies like us at Nelson Cooper & Ortiz, LLC would never ask for any personal information and would never call at odd hours to make you repay your debts! Email at info@prelitigation.com for more details.