The Federal Deposit Insurance Corporation (FDIC) recently issued a warning to people who have delinquent loans with failed banks that they may receive a call to collect the money. However, borrowers should be warned that the calls are being initiated by scammers and not the actual government entity.
The FDIC Isn’t Calling to Collect
The FDIC has inherited the bad loans of about 112 banks that have failed this year. Representatives want to be clear that despite having to collect on those loans, it is not making calls to consumers in an effort to make them pay.
According to a recently-issued warning, “suspicious telephone calls” are seeking payment on delinquent loans as well as asking for personal information by pretending to be the FDIC. In the calls, the scammers attempt to authenticate the claim by offering specific details to gain trust.
Then the recipient is strongly urged to make a payment over the phone to avoid a lawsuit or possible arrest.
The FDIC also noted that some other callers may not try to collect money, but will still make attempts to collect personal information for identity theft purposes.
Don’t Fall for This Scam
The FDIC is reassuring customers that it is not making any calls to collect on loans. So if you receive one of these phone calls, remember the following:
- Avoid disclosing personal information: Do not give out any personal details about your loan or bank accounts. Instead, hang up the phone immediately because you are not speaking with the FDIC.
- Check your credit reports: After you have ended the call, the FDIC suggests you contact one or all of the major credit reporting companies to check for signs of fraud.
Unfortunately, it’s challenging to catch the people behind these scams, so the best you can do is take the steps necessary to make sure you’re not the victim of one.
