Jerry Jones CPA
Wouldn’t it be nice to have a CPA that you deal directly with, that understands your business, that works in all 50 states and is there for you when you need him?
“Jerry is one fantastic CPA! He has been my professional tax planner/preparer for over 20 years. As my professional and personal life has went through changes Jerry has always been there to help me navigate and plan for my tax strategies”.
IRA R., EVP, Marvel Entertainment

You paid off that debt — or did you?

debt fixed jerry jonesYou buy a washing machine on credit and make the loan payments until the debt is paid off. Then you receive a call from someone claiming to be a debt collector for the appliance store. The caller alleges that you still owe a hefty balance on your loan. When you insist you've paid the loan in full, you're bullied and harassed. The caller says if you don't pay up, you'll be charged additional interest and might even be thrown in jail.

Is the call legitimate? Or is this a scam? Three red flags can help you determine the answer.

  • Elusive responses. Ask for specific information about the alleged debt. Though legitimate collectors can make mistakes or call the wrong party, the caller should have ready access to details backing up the claim. For example, ask the caller to provide the debt amount, and the lender's name, address, and phone number. If the caller can't produce evidence that ties you to a specific debt, you're likely being scammed.

  • Demands for financial or personal information. Some fraudsters use debt collection as a phishing tool. They're trying to get enough information to open a credit card account or take out a loan in your name. Never give out personal or confidential data such as bank account numbers to someone you don't know.

  • High pressure or threats. Under the Fair Debt Collection Practices Act, debt collectors may not threaten, abuse, or harass you, your spouse, or any other third party. They may not continue to contact you after you've made a written request for them to stop. If you're feeling threatened or bullied, hang up and call your state Attorney General's office or local law enforcement.

Still not sure whether the call is legitimate? Plug the collection agency's name and address into an internet search engine to verify that the company exists. Contact the Better Business Bureau to learn if complaints have been lodged against the agency. Pull your credit report at AnnualCreditReport.com to confirm any outstanding debts. Call the store to verify that you still owe money. If, after researching thoroughly, you don't recognize the debt, don't pay.

If you need help managing your debt, give Jerry Jones, CPA a call.

How to Spot Scams & Cons

If it sounds too good...
According to the FBI, there are over 14,000 scam artists at work on any given day. Perhaps the information presented here will help you avoid becoming a victim. If you have questions, please call us. Remember, if it sounds too good to be true, it may well be a scam.

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