By Christopher Maag
For decades now, we at Credit.com have actually written story after tale 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 week that is just last Information did an expose associated with scam, detailing just exactly how crooks, mostly working from call centers in Asia, pose as representatives of commercial collection agency payday loans TN companies. A number of the re re payments had been prepared with A california-based company run by Kirit-Patel, an Indian-American guy whom served since the front guy for just one associated with schemes, the FTC alleges.
вЂњI would personally state that most roadways for this scam, or most roadways with this scam, lead back again to Mr. Patel,вЂќ Jon Leibowitz, president regarding the FTC, told ABC Information.
However the scam seems to be a hydra that is multi-headed. Based on Credit.com visitors, the harassing calls from fake loan companies carry on unabated, months following the FTC won its effort to turn off one of many unlawful organisations behind the scheme.
вЂњ(T)oday i acquired a call from the investigator that is private John McCaffrey,вЂќ a Credit.com audience making use of the display screen name вЂњKristenвЂќ told us in a remark to your web log on July 5. вЂњHe claimed that I became to seem inside my neighborhood county courthouse to manage the problem.