Comments on: How Easy is it to Get Scammed by Online Loan Companies?

By: Donald Petersen

Donald Petersen — Sun, 17 Jul 2011 14:32:50 +0000

@ Kara – Scammers obtain their information through a wide variety of ways. Ryan described many of the most common ways but the possibilities seem almost endless. Data breaches at banks, mortgage servicers, on-line service providers (e.g., Sony PlayStation), and payday loan companies happen “all the time”.

@ Ryan – The Fair Debt Collection Practices Act would apply but the problem is that it is often impossible to ever locate a true “scammer” (as distinguished from a typical collection agency that violates the FDCPA). Even if the consumer’s lawyer ever served the scammer and obtained a judgment, the likelihood of collecting any judgment is probably remote.

An increasing number of consumers who call me are describing an increasing number of very severe collection harassment by callers who have foreign accents.

Consumers who receive harassing telephone calls on accounts that are not their account, should consult with an experienced consumer lawyer.

Suing the collection agency is often the only way to end the harassment and prevent the debt collector from assigning the account to another collector. If the debt collector is a true “scammer”, reporting the collection agency to the government’s inter-agency task force is probably the best hope of ending the harassment.

By: Ron

Ron — Sat, 16 Jul 2011 01:39:16 +0000

I hate scammers.
I always try and put the pressure on the person calling for the money.
Ask questions like, name, phone number, address, name of lawyer, can you fax me the papers, who do you work for, give me your number so that I can call you right back.
Scammers never give all the information.

By: Ryan

Ryan — Wed, 16 Feb 2011 03:30:44 +0000

Kara, by law he is required to provide proof that you owe the loan. You should familiarize yourself with this page from the FTC: Debt Collection FAQs: A Guide for Consumers. Should the debt collector fail to provide you with evidence of your debt and continue to harass you, you should report this to the FTC. The law also gives you rights that would allow you to sue the debt collector for harassment, should he be in violation of Fair Debt Collection Practices Act.

By: Kara Sharp

Kara Sharp — Wed, 16 Feb 2011 01:59:08 +0000

I am being harrassed at my job by a man that has a thick middle eastern accent. He called my job yesterday leaving a message to call a “Rose Taylor” and it was an emergency legal matter. The phone # is 646-926-7086. It is a New York area code. I did a reverse phone lookup and there is no name or buisness attached to it.

He claimes he is from a legal office and is collecting on a unpaid online loan. Supposedly I owe them 502.00. If I choose to take this to court he said it will cost me 2600.00 after legal fees are attached and he is going to contact my employer and I will be garnished.

I have in the past applied for an online loan before. I don’t recall ever receiving one.

I asked him to send me information concerning the matter by mail. He claims I have to agree to a payment and go to a Kinko’s or somewhere there is a fax machine and he will fax the information. I asked him to email the information and I would print it off, I have yet to see ANYTHING in my email. He knows my social security number, where I work, where I used to live, and my date of birth. He read all of them off to me. I have called the number and I received a message that the person at ext. XXXX is unavailable and to leave a message, but the mailbox is always full.

He has told me he will call my job and I will be embarrassed because I owe money and everyone will laugh at me. How can I find out if this is a scam or if someone took out a loan in my name online (my ex-husband has taken them out in his name) and I need to pay it to not ruin my credit and take whoever to court.

This man also claims there is no stores for this company and it is a strickley online buisness. Please advise.

By: FrugalTrader

FrugalTrader — Tue, 29 Jun 2010 01:00:45 +0000

Thanks for the mention Ryan!

By: Impulse Magazine

Impulse Magazine — Mon, 28 Jun 2010 15:28:09 +0000

I just would not trust the ones that you have to pay money up front to see if you qualify

By: Craig

Craig — Mon, 28 Jun 2010 14:10:10 +0000

Very interesting and it is becoming more difficult to realize what is real and what is a scam. Something we need to read about more.

By: Ryan

Ryan — Mon, 28 Jun 2010 13:18:26 +0000

Agreed. It’s very easy to place a logo or badge on your site declaring your site is “secure” or part of a legitimate network. Always research the company before sending them money or personal information.