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A phantom debt collection scam duped consumers out of more than $1 million. Here are 5 ways you can avoid falling victim

Collection Industry News

More than $1 million, or an average of $516 for each payment, is being returned to the victims either via PayPal or a mailed check, the Federal Trade Commission recently announced. ″ Consumers will be recovering all the money they lost to the scammers,” the FTC noted. To be sure, a credit report may not show everything.