How to Borrow Money without Going to Jail

debt 199x300 How to Borrow Money without Going to Jail

One wouldn’t think that borrowing money would lead to jail time, but individuals have been receiving threatening calls stating that this is the case.  Of course, not all borrowers are receiving these calls, only a select few.  “What makes these ‘select few’ stand out from the rest?” you might ask.  These call recipients have actively searched online for loans.  Once they have conducted their search, the calls begin.

The calls involve a debt collector, who may be an impostor.  This person demands payment from a debt that may not exist or has already been paid for.  The debt collector somehow knows that at some point you borrowed money, the amount, and possibly the institution borrowed from.  You may have already paid this debt, but that’s entirely irrelevant to this person.  This collector will hound you for the money and may even fabricate a story about you being involved in check fraud, (which happened to someone recently, by the way.)  They will tell you if you choose not to pay the debt, a warrant will be issued for your arrest.  You will be required to go to court and to post bail.

One of these debt collectors threw out figures of $1652.20 for court costs and $4500 for bail money.  The goal was to put the fear into the call recipient so that they pay up the fabricated debt immediately, to avoid the threats of incarceration and jail time.  This gimmick works too!  People are scared, and they do lose money to these scams.  Also these debt collectors may call a person at work or repeatedly on their cell phone, which further tempts call recipients to pay off this person just to get them to go away.

Should you receive any of these calls, be sure to find out as much as possible about the company calling.  Then, take the time to check them out.  Call your local BBB or view the business’s reliability report on our website,  Chances are you won’t be going to jail anytime soon for borrowing money, but knowing for certain can help put those fears to rest.

photo credit: <a href=””>Josh Kenzer</a> via <a href=””>photopin</a> <a href=””>cc</a>


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About Kristal Heffley

Ad Review and Social Media Specialist of BBB serving Northern Indiana. Kristal spends a great deal of time learning, writing about, and educating the public on scams of the day. She also is quite the social-media enthusiast and community partner. You can follow her posts, i.e. BBB serving Northern Indiana on Facebook, Google Plus, Instagram, LinkedIn, Twitter, YouTube, and of course, our blog.