The following is a sponsored blog post:
Wherever there is money there is temptation. Everyone needs to be on their guard when it comes to the financial companies they deal with and the security of their personal financial information.
It is natural to feel under stress if you are in financial difficulties. It is no relief to know that many other people are in the same position after the years of the recession. It is often a slow process getting out of trouble and there are dangers around unless you are careful. Unfortunately it seems that there are ways that unscrupulous people can find out if you are in financial difficulty. It will not happen if you have been careful in the first place only to talk to companies that can guarantee discretion and confidentiality. Some cannot do that and as a result information is leaked and scammers are only too happy to try to use it to their advantage.
The Federal Trade Commission (FTC) is tackling the problem of attempted fraud but that does not mean that it will immediately cease. Numerous complaints are still being received but there are a few things you can do if you suddenly receive an unexpected call about finance, especially one asking for money with the threat of further action if you do not pay immediately.
If a call threatens arrest then it is a scam; no one can be arrested for civil debt and this is an attempt to stress you further and pay money without thinking. It is important to compose yourself in the face of an unexpected telephone call and ask for written evidence of your debt. If somehow your details have been leaked by someone to whom you once made a installment loan application the extent of the scammer’s knowledge will be you asked for money, not what might have happened subsequently. The Fair Debt Collection Practices Act requires that legitimate callers provide a validation notice of the debt which scammers will be unable to do. It is worth noting that if you do receive a legitimate summons you should always respond; do not simply ignore it because the problem will not suddenly disappear.
It seems that the major target for fake debt collectors are people who have taken out emergency loans; payday loans tend to be for people in desperate need of short term money. They are in difficulty already and scammers can increase their problems. There are times when debt is handed over to collection agencies by the original lenders and this is an extremely good reason to be selective about where you look for finance; reputable lenders will be in communication with you at all times and protect your privacy.
If you are in difficulties there are reputable financial companies that may have the solution to your financial problems if you can demonstrate that you have a regular income that can justify funds to help you. There will be no question of their allowing information you provide to be accessed by anyone not involved in your discussions. That way you can be certain that everything is handled properly and the chances of a scammer knowing anything about you will be minimal.
If you receive a call from a third party relating to your circumstances you should not panic. Ignore any requests for money at all times and demand to see paperwork evidence of what a caller claims to be a debt payable immediately. Ignore any threats, put the telephone down and contact anyone with whom you have a loan for reassurance. You will not be bothered again by that caller or any other if you simply follow that procedure each time.