Businesses Facilitating 'Identity Theft'

[garnet]

If you get a call from a collection agency demanding payment on something that is fraudulent, DEMAND that they stop calling you, and also throw in the words "lawyer," "harrassment," and "lawsuit" while you're at it. Those guys will stop at nothing, and they'll ruin your credit too. I once had a situation where my account got mixed up and I had these morons calling me non-stop about someone else's overdue bill. They called me at work, at home, and they even called the manager at my apartment complex. Insanity. Just make sure they don't screw up your credit.

[glatt]

Originally Posted by garnet

If you get a call from a collection agency demanding payment on something that is fraudulent, DEMAND that they stop calling you, and also throw in the words "lawyer," "harrassment," and "lawsuit" while you're at it. Those guys will stop at nothing, and they'll ruin your credit too. I once had a situation where my account got mixed up and I had these morons calling me non-stop about someone else's overdue bill. They called me at work, at home, and they even called the manager at my apartment complex. Insanity. Just make sure they don't screw up your credit.

Actually, according to the 1986 Fair Debt Collection Practices Act all you have to do is notify the debt collection agency in writing that they may not contact you again, and they must comply. No implied threats are needed. If they do contact you again (other than to confirm that they will never contact you again) they are in violation of federal law and you can sue them for damages up to $1000, and much more if there's a class action suit because they do it to a lot of people.

The person you actually owe money to can call you as much as they want, but a collection agency has VERY limited powers. Most people don't know this, and put up with the crap from collection agencies. Anyone being contacted by a collection agency should read the Act so they know the rules.

Of course, they can report the debt to the credit agencies, and they can take you to court if you refuse to pay. The judge could rule against you, and force you to pay. But there are statutes of limitation.

[garnet]

Originally Posted by glatt

Actually, according to the 1986 Fair Debt Collection Practices Act all you have to do is notify the debt collection agency in writing that they may not contact you again, and they must comply.

Wow, cool. I didn't know that. Hopefully I won't be in a situation to need that information anytime soon!

[lookout123]

that prevents them from contacting you, not demolishing your credit report. i had a client once that misunderstood this and demanded in writing that my (old) company not contact her in ANY way. she was still bitching about having her house foreclosed upon last time i heard. moral: whether or not you receive anything in the mail or a phone call, it will still be an outstanding debt until it is settled in some way with the company.

godwulf - i believe myfico.com charges $12.95 per bureau so a total of about $39. well worth it, for the ease. you can dispute right on line and print your tri-bureau immediately. i recommend it at least once per year. this method also doesn't result in an inquiry on your report.

most of the "free" sites are instantly linking you up with a large number of lenders who will contact you ceaselessly. these sites are sponsored by lenders.
even a lender has to pay to pull your bureau, so they aren't going to do it for free.