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BBB: Watch out for fake debt collectors

Sep 22, 2011 Mike Garretson

The Better Business Bureau recently sounded the alarm when it came to a recent string of calls from fake debt collectors who tried to gain financial information from people using threatening tactics. In a statement, the group warned people against callers who ask for personal information when trying to track down money owed. In some cases, the outstanding debts could be real but the source asking for payment is not. The BBB suggests asking the caller for written proof and not to give bank or credit card information over the phone. Consumers need to be careful about other issues as well. In a statement, Stephen A. Cox, president of the Council of Better Business Bureaus, said that college students should be careful to monitor roommates they may not know, as they could steal their identity and use it for financial gain." “In this day and age, you can’t always trust your peers,” said Cox. “It’s extremely important for students to be vigilant in monitoring bank and credit card statements to spot unauthorized activity. Sign up for security alerts on your accounts and have them sent to your mobile phone."