Many people in the US are receiving telephone calls from scammers who are trying to collect on loans that consumers have never received. Sometimes the fake debt collectors are contacting the consumers to pay back the loan amount they do not owe. There are many other such calls where consumers are asked to recover the loans they never received.
Consumers have been warned to be on high alert for scammers posing as debt collectors. It is hard to identify whether they are legitimate debt collectors or fake ones. Sometimes the fake debt collectors are targeting consumers with personal information like bank account numbers. These borrowers generally have less than perfect credit and are vulnerable to debt collection schemes.
Debt collectors have been busy. There is a new wave of personal lenders like Americor Funding and Credit9 that are offering loan consolidation services through direct mail, tv and internet. Demand for personal loans is skyrocketing. These include personal loans, peer-to-peer loans, installment loans, short-term loans and debt consolidation loans.