Saturday, August 08, 2009

Phony Debt Collectors Calling Consumers Nationwide

Scamsters loaded with personal info

By James Limbach,
The Better Business Bureau (BBB) has put out a national alert about phony debt collectors that are calling consumers nationwide, warning of imminent arrest if they don't pay on a defaulted payday loan immediately.

Claiming to be lawyers, the scammers say they are with the "Financial Accountability Association" or the "Federal Legislation of Unsecured Loans" and are equipped with a disconcerting amount of personal information about their potential victims.

"Because the scammers have so much information about potential victims, BBB is concerned that this may be the result of a data breach," said Randall Hoth, president and CEO of the Wisconsin BBB. "Thousands of people may have had their personal information compromised, and given the scammers' tactics, it appears that those who have previously used payday loan services could be particularly at risk."


~Sandy G.

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