IC3 Issues Alert on Telephone Payday Loan Scam

credit card2 300x199 IC3 Issues Alert on Telephone Payday Loan Scam

The Internet Crime Complaint Center, or IC3, recently issued an alert regarding a telephone scam related to overdue payday loans. Consumers are receiving phone calls from people falsely representing law firms, the FBI, and other agencies, claiming to be collecting debts from well known companies such as U.S. Cash Net, and U.S. Cash Advance.

The callers continuously call the victims home, employer, and cell phone, however they won’t provide any information about the payday loan. The callers threaten the consumer with jail time and legal actions.

The callers have information about the consumers including personal information such as social security numbers and employer information.

All of these calls are used to instill fear in the consumer in an attempt to receive payment for the loan.

The Fair Debt Collection Practices Act (FDCPA) prohibits legitimate debt collectors from using abusive, unfair, or deceptive practices to collect from consumers.

Consumers receiving these types of phone calls should:

* Contact the three major credit bureaus (Experian, Equifax, and TransUnion) and request an alert to be put on your file

* Contact your bank or financial institution

* If you feel you are in danger, contact your local police

* File a complaint
with the IC3.

For more alerts from IC3 visit www.ic3.gov.

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