Payday loans have been around for many years, making it possible for consumers to get fast cash without having to worry about credit or approval waiting time. Financial emergencies are often in need of money, and most “traditional” lenders, such as banks and credit unions, do not provide the same timeliness as payday lenders. With these types of short-term loans, consumers are expected to repay the borrowed funds in the short term. Usually bring their next salary. Lenders use their own payees to process default payments, but identity thieves have found their way to try to collect these loans, and unfortunately many consumers have succumbed to this!
A payday loan lender, also known as a "small dollar loan" provider, withdraws loan payments from the borrower's bank account on or before the day when the borrower's salary is deposited in his or her bank account. If the money cannot be repaid, the lender is most likely willing to make repayment arrangements with the borrower in order to see them successfully repay the loan. If this doesn't work, then the collector will be involved. It is most likely someone from a payday loan company or a third party payee. Lenders will never let the police intervene, and the FBI will not recover the lost funds.
A recent fraudulent act has led identity thieves to act as FBI agents, trying to scare consumers into repaying payday loan debts that they don't even owe. Consumers use ID spoofing technology to answer calls when they see a "federal investigation" on the caller ID. Then, the imitators at the other end of the line claim that they are FBI agents, and he has been monitoring the call recipient's online activities as a payday loan borrower. Although unsuspecting victims on the phone may or may not have a payday loan account, thieves who impersonate FBI agents will threaten to take legal action, even if they do not pay by wire transfer or prepaid debit card, or even jail. These thieves can even access a person's address, work location or social security number.
Consumers need to know that these so-called FBI agents are false and do not have the right to charge any form of money, regardless of any loans. If you do receive a call from someone, claim that they are FBI agents and they are from
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In return, please keep the following in mind:
* Any funds exchanged by wire transfer or prepaid debt card are irrevocable or traceable. It's like remittance, which is why the caller will ask you to send money in this way. Once you pay, you will not have the opportunity to get back your money.
* If you are actually an invitation to one of the imitators, please hang up and do not call back. Although you may want to be “straightforward”, it is not worth the risk of confrontation and risking information to them, which will be used later.
*Be sure to report the incident to your local police department; especially if you feel threatened.
*Although you may have a caller ID and in most cases the caller will be recognized correctly, don't believe it if "FBI" is displayed. Caller ID Deception allows perpetrators to pretend that they are representatives from your utility company to the immigration authorities.
* If you decide to talk to a caller, ask for an official "confirmation" of the debt. They are required by law to do so and include the name of the creditor, the amount of the debt, and your statement of rights under the Fair Debt Collection Act. If the Collector is not willing to provide you with the information you requested, hang up. This is a definite evidence that they are illegal.