Things change very quickly in the debt collections game. Companies are constantly buying up debt and assuming the collection responsibilities of your original creditors. One day you’re getting calls from your actual credit card company, the next you could be getting calls from the “Acme Collections Company” on their behalf.

This constant shuffling back and forth can make identifying exactly who to pay more tricky than you may realize. It can also create an opportunity for imaginary companies to pray on overwhelmed debtors. In an effort to make sure you aren’t paying money you don’t owe, it’s critical that you take control of the situation. When the phone doesn’t stop ringing, it’s easy to go on the defensive. That’s not in your best interests. You have nothing to be afraid of because if you are dealing with a legitimate creditor or collections agency, they will be willing to answer your questions.

Here’s the best piece of advice we can give you: When a collector calls, ask for the name of the original creditor on the debt. No matter how many times the debt is sold, that piece of information will be included in your paperwork. If the person on the phone can’t tell you, hang up. There’s something wrong.

The Consumer Financial Protection Bureau recently shut down a debt collection ring believed to be harassing consumers into paying money they didn’t owe. The organization has filed a lawsuit against several fake companies such as LRS Litigation Services, IRS Equity and Worldwide Requisitions. The suit alleges that the companies instructed targeted consumers to pay up or face legal action, including arrest for fraud. Naturally when we hear names like IRS, our hearts race and our wallets open. The company used fake contact information to collect thousands of dollars from the people on the call list.

Going through bankruptcy and living with debt is hard and confusing enough without having to worry about phony “creditors” trying to take advantage of you. When bills start mounting up, it can be difficult to keep track of every creditor looking to collect. As you attempt to rebuild and start over, you need honest and effective legal representation to help you make the right decisions and expedite the bankruptcy process. Just because you’ve landed in debt, doesn’t mean you don’t deserve to be treated fairly and honestly. Don’t let past financial mistakes make you a target. Ask the right questions and talk to an experienced attorney today.

The Law Offices of Joel R. Spivack specialize in guiding clients through the bankruptcy process and making sure they know their options. We will help you understand your rights and responsibilities and get through this as soon as possible. Call us today for a free consultation.