Is this a case of identity theft or fraud?
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I got a letter from a collection agency about a debt I presumably have from a defaulted loan. I know nothing about such debt, which is originated by a bank I don’t have an account with. I contacted them, and they sent me a copy of the “contract”. It has my name on it, signed electronically.
The Bank has no knowledge or record of that loan. Could this be a case of identity theft or fraud? How should I go about it?
Is the debt showing on your credit report?
Your first action should be to pull your credit reports and check them. It the debt shows on your report than it’s either a clerical error or fraud. Clerical errors are easy to correct with a simple dispute procedure. If its credit fraud, you need to take actions before more damage is done. Use this identity theft checklist as a guide.
If the debt is NOT showing on your credit report than its more likely that the collection agency is just “fishing” for everyone with a similar name. It happens all the time and it’s not ID theft.
Simply send the collection agency a certified, return receipt letter telling them to cease all contact as the debt is not yours. They have to stop, and will likely sell the debt to another collection agency, and you will need to repeat the process.
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