What happens if I Already Paid an Illegitimate Debt Collector?
Scammers can be very persuasive in convincing you to send them money. If you’ve already paid a fraudulent debt collector, your best bet is to seek recourse with the bank or financial institution you used to send the money. For example, if you paid the illegitimate collector with a credit card or debit card, contact the bank that issued the card, inform them the charge is fraudulent and ask them to reverse the charges.
You may have a reasonable expectation of getting your money back if you paid by credit card or debit card, as federal laws protect you from fraudulent charges:
- For credit cards: Under the Fair Credit Billing Act (FCBA), your liability is limited to $50, but most credit card companies offer zero-dollar liability protection, which means you’re not liable for fraudulent charges. Once fraud is detected, the false charges are returned to your account.
- For debit cards: The Electronic Funds Transfer Act protects your liability against fraudulent charges, but you must act fast. If you report the fraudulent payment within two business days, you may owe a maximum of $50. If you report the charge between two business days and 60 calendar days from the date of the fraud, your liability increases to $500. Once 60 days pass, your liability is unlimited, meaning your entire payment might be forfeited.
