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Scam alert: ID thief poses as debt repairer

Scam alert: ID thief poses as debt repairer

(Scams, Identity Theft) Permanent link

A Kent woman called this morning about a phone call she received from someone claiming to help her repair her debt. The caller insisted he was not a “debt consolidator” but that he could offer a valuable service. The consumer became suspicious when the caller asked for personal information – including her phone number and the security code on the back of her credit card.

Her caller ID failed to register any information and when she asked the caller the name of his company he promptly hung up.

Seems likely the caller was an identity thief. But the ironic thing is that debt consolidation programs offered by legitimate organizations can be helpful to some consumers. These programs combine your existing debts into a single loan with a lower interest rate.

But watch out for debt negotiation programs that claim they can work out a deal with your creditors to lower the amount you owe. These programs can be risky and may have a negative impact on your credit report and, in turn, your ability to be approved for new credit.

More information about managing your credit is available on our Web site here.

 

Posted by AGO Blog Moderator at 07/29/2008 04:25:38 PM | 


I recieved a call from a LasVegas number 1-702-705-5084. The man said "I see you have a credit card with 6000 in debt and we can help you please one for more details."
I did not press one. I did call the number later and got a recorded message "would you like to speak to an agent about reducing your debt?"
I hung up. But I wonder if you have heard about this or have I just missed an oipportunity to reduce my debt.
Posted by: Jeanne Sweeney ( Email ) at 10/14/2008 3:33 PM


Hi Jeanne,

I tend to trust people who I seek out for help, not telemarketers who claim to be able to help me. And I would never provide personal information, such as a credit card number, to someone who calls to ask for it.

Many nonprofit organizations including universities, credit unions, housing authorities and military bases operate credit counseling programs. These programs can help you develop a personalized plan to solve your money problems. Creditors may be willing to accept reduced payments if you’re working with a reputable service.

Credit counseling services often arrange for consumers to pay debts through a debt management plan. You deposit money each month with a credit counseling organization, which then uses those deposits to pay your bills and loans according to a payment schedule they’ve worked out with your creditors and you.
Be aware that not all credit counseling services are legitimate. Just because an organization says it is “nonprofit” doesn’t guarantee that its services are free or affordable. Think carefully before sending money to a credit counseling organization that doesn’t have an office in your community. If a dispute develops with a credit counselor that provides services via the Internet or is located in another state, how will you resolve it?

You can find more info on our web site at www.atg.wa.gov/credit.aspx.
Posted by: Kristin Alexander ( Email ) at 10/16/2008 5:15 PM


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