This is actually the Scam That Simply Won’t Die. For a long time now, we at Credit.com have written tale after story caution people about fake pay day loan loan companies.

This is actually the Scam That Simply Won’t Die. For a long time now, we at Credit.com have written tale after story caution people about fake pay day loan loan companies.

By Christopher Maag

For many years now, we at Credit.com have actually written story after story caution people about fake pay day loan loan companies. This February the Federal Trade Commission won a court orderto close an operation that presumably took $5 million from US customers intimidation that is using threatening telephone calls to get on phantom pay day loan debts, nearly all of which never existed.

And simply a week ago ABC Information did an expose associated with the scam, detailing just how criminals, mostly working from call centers in Asia, pose as representatives of commercial collection agency firms. Most of the re payments had been processed by way of A california-based company run by Kirit-Patel, an Indian-American guy who served given that front guy for example associated with schemes, the FTC alleges.

“i might state that most roadways for this scam, or lots of the roadways for this scam, lead back once again to Mr. Patel,” Jon Leibowitz, president associated with FTC, told ABC Information.

Nevertheless the scam is apparently a hydra that is multi-headed. In accordance with Credit.com visitors, the phone that is harassing from fake collectors carry on unabated, months following the FTC won its work to power down one of many unlawful organisations behind the scheme.

“(T)oday i obtained a call from the investigator that is private John McCaffrey,” a Credit.com audience utilizing the display name “Kristen” told us in a remark to your weblog on July 5. “He claimed that I happened to be to seem inside my regional county courthouse to deal with the problem. More