Fake Loan Companies – You Shouldn’t 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 customer liberties, recently settled a claim against a debt collection scam that is bogus.
The way it is against A ca based resident, who caused fake financial obligation collector callers from India, is merely another instance associated with the FTC crackdown against frauds that targeted financially distressed customers.
FTC Settles with Fake Loan Companies
The FTC circulated a news release on October 2012 of a crackdown on fake collectors. The latest scam involved a team of those who utilized information regarding consumers that has either taken a quick payday loan or shown a pursuit in using down an online payday loan.
The FTC noted that, in this case that is latest, customers received an incredible number of collection calls that originated in India. The fake collectors raked much more than $5 million over a two-year duration. The FTC and state lawyers received significantly more than 4,000 complaints.
All those techniques are illegal. They are typical strategies utilized by fake or dishonest loan companies.
The FTC Crackdown on Bogus Loan Companies
The most recent FTC crackdown is a reminder to us there are financial obligation scammers and unscrupulous loan companies. (more…)