Fake Loan Companies – Do Not Be Intimidated
We now have all learn about financial obligation collection frauds and harassment by fake loan companies. The Federal Trade Commission (FTC), a federal government regulator and enforcer of consumer legal rights, recently settled a claim against a debt collection scam that is bogus.
The scenario against A ca based resident, whom caused fake financial obligation collector callers from Asia, is simply another instance associated with FTC crackdown against frauds that targeted consumers that are financially distressed.
FTC Settles with Fake Loan Companies
The FTC circulated a news release on October 2012 in regards to a crackdown on fake loan companies. The latest scam involved a team of individuals who used details about customers that has either taken a quick payday loan or shown a pastime in using down an online payday loan.
The FTC noted that, in this latest instance, customers received an incredible number of collection calls that originated from India. The fake loan companies raked much more than $5 million over a period that is two-year. The FTC and state lawyers received a lot more than 4,000 complaints.
Based on a FTC news release, the fake collectors utilized various tactics, including: