Presumably, your debt collection business took funds from customers for fake (therefore labeled “phantom”) debts.

Presumably, your debt collection business took funds from customers for fake (therefore labeled “phantom”) debts.

The Phantom Financial Obligation

The Federal Trade Commission (FTC) filed a complaint in federal court in North Carolina against a debt collection company in that state in late June. Presumably, your debt collection business took funds from customers for fake (so“phantom” that are called debts. Put simply, for debts that the customers would not really owe.

The way the Ripoff Worked

In line with the FTC, your debt collection business bought fake pay day loans by way of a financial obligation broker from a 3rd party mortgage lender. Your debt collection business then started gathering regarding the debts that are fake customers. Complaints began to arrive from customers whom reported which they would not owe the debts or that there was clearly no balance that is outstanding your debt. Continue reading Presumably, your debt collection business took funds from customers for fake (therefore labeled “phantom”) debts.