01 juin 2013 ~ 0 Commentaire



Have you been called to make payments for online payday loan debt which was never yours to begin with? Has credit card debt which was paid off years ago become the topic of phone calls from debt collectors? Are you getting collectors calling you because you share the same name with someone who owes money? There is a rise in fraudulent practices from debt collectors.

If you are receiving calls from collectors who have no proof of the original debt as belonging to you, remain unpaid or belonged to the previous resident of your address, you will want to contact the three credit bureaus to see what is being reported. This is a perfect example of one reason why the credit bureaus offer one free credit report every 12 months.

If you do receive one of these calls, get as much information as you can from the caller to turn into the local authorities or district attorney’s office. Collectors who pursue debt using aggressive tactics or fraudulently trying to collect debt which does not belong to you are breaking the law. Phone calls are coming in by the thousands complaining that debt collectors are tarnishing people’s credit scores illegally.

One of the more harmful results from this problem credit scores gone bad. When debt collectors reports default accounts to the credit bureaus, scores go down. The person left responsible to check on report accuracy is the same person who most often will find out about bad credit when they need it the most. Applying for a car loan thinking that your credit is great and finding that someone else’s debt was reported on your report will get your loan denied and will take some time to clear up. Errors on credit reports can be cleared up, but the timing of learning about them can create dysfunction in your finances. The amount of debt does not make a difference, so even a payday loan online debt of a few hundred dollars marked your credit report by a debt collector.

Credit reports have become such a powerful tool that the threat of ruining your credit has become a problem with debt collectors forcing Americans with control over their scores as a powerful weapon. People who fall into this terrorism despite not owning the debt lay victim to the fraudulent activity.

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