Extortion has become an increasingly popular crime. High profile cases such as those of David Letterman and John Travolta have come forward on a national scale, but on a smaller celebrity degree, the caseload of such threats has increased to five times what it used to be for a security and investigation firm in New York. Also increased is the number of debt servicing ambiguities—companies collecting for debts they do not own.
You may owe the money, but who owns the debt? Often in small claims court, credit card collections go uncontested; defendants start making payment arrangements before verifying that the company they are paying is really the company whom they owe. This can be the situation for credit card debt and mortgage debt alike, where we have “show me the note” cases. If you are unclear on the servicer trying to collect, ask. Seek legal counsel. Furthermore, there may be other options available to you besides what the bank or financial institution will offer. A second look could be worth it.
Security experts advise against unguarded use of electronic communication as a thwart to blackmail. That is a lot to give up in this age of personal technology. Your life does not have to come to a halt in the case of credit card debt or foreclosure, but you may want to have your case reviewed by an attorney.
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