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ZOMBIE DEBT...Don't Let it Come Back to HAUNT YOU!

Your Moment of Trust

Release Date: 11/10/2023

Wrong Number Text Scams show art Wrong Number Text Scams

Your Moment of Trust

A Podcast by BBB of the Tri-Counties:   A BIG thank you to Ayers Automotive Repairs in Santa Barbara for Supporting this Podcast! Welcome to this week’s edition of Your Moment of Trust! A new text message scam seems so innocent that it’s tempting to reply. But con artists are using phony “wrong number” texts to lure victims into conversation and falling for a scam. How the scam works You receive a text that reads something like this: “Hey is this John? It’s Amanda. We chatted on Tinder before when I came to visit my cousin but we never met irl. I’m back in town if you want...

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How Much to Tip... show art How Much to Tip...

Your Moment of Trust

A Podcast by BBB of the Tri-Counties: http       A BIG thank you to in Santa Barbara   Welcome to this week’s edition of Your Moment of Trust! The end of the year is a time to show appreciation for those who provide necessary services and little luxuries in your daily life. But this year, the increased cost of goods and services means you may need to pay extra attention to your tipping budget. Even if you are limited in what you can give, there’s no need to feel uncomfortable. A little extra thoughtfulness can go a long way. Determining who to tip and how...

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Choosing the Perfect Gifts for your Pets show art Choosing the Perfect Gifts for your Pets

Your Moment of Trust

A Podcast by BBB of the Tri-Counties:  https://www.bbb.org/local-bbb/bbb-of-the-tri-counties A BIG thank you to Ayers Automotive Repair for supporting this podcast! https://www.ayersrepairs.com Welcome to this week’s edition of Your Moment of Trust! Even with inflation worries this holiday season, most pet owners still plan on spoiling their fur babies with holiday gifts. According to a poll by Chewy in 2022 (Chewy is a BBB Accredited Business), more than 90% of pet owners include their pets on their holiday shopping list, and another study shows that giving to pets makes people happy....

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Sticking to your Holiday Budget show art Sticking to your Holiday Budget

Your Moment of Trust

A Podcast by BBB of the Tri-Counties     A BIG thank you to Ayers Automotive Repair for supporting this podcast. https://www.ayersrepairs.com Welcome to this week’s edition of Your Moment of Trust! Supply chain problems, shipping delays, and inflation can make it even tougher to create and stick to a budget during the holidays. This meansthat planning ahead and knowing your sp ending limits are more important than ever. How can you build a holiday budget that will cover buying for everyone on your list while keeping you out of debt? BBB recommends the following steps for...

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Sports Memorabilia Scams (Warnings from BBB) show art Sports Memorabilia Scams (Warnings from BBB)

Your Moment of Trust

Welcome to this week’s edition of Your Moment of Trust! When shopping for a team jersey or other sports memorabilia, Watch out for fakes. Scammers know that authentic game-used and/or autographed items can fetch big bucks – especially for items commemorating big games. When shopping online, it can be hard to trust that a seller or product is genuine. Follow these tips when buying sports memorabilia: “Game-used” items are highly sought after. Buyers prize items that saw action on the court or field as valuable parts of sports history. Consumers should be aware that there is a...

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BBB's Holiday Tips on Scoring  Hard to Find Items show art BBB's Holiday Tips on Scoring Hard to Find Items

Your Moment of Trust

Welcome to this week’s edition of Your Moment of Trust! National experts are predicting an increase in spending this holiday season. There is also a concern if many of the items on consumers' holiday lists will be available on the shelf or online and are faced with the disappointing words: “Sorry, this item is currently out of stock.” That’s especially true when there are challenges with supply chains. But does that mean the words “out of stock” are the end of the line? Not at all. With a little determination and some creative thinking, the item might be found and purchased....

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Class Action Lawsuit Scams to Watch Out For! show art Class Action Lawsuit Scams to Watch Out For!

Your Moment of Trust

A podcast by   A BIG thank you to in Santa Barbara for supporting this podcast!   Welcome to this week’s edition of Your Moment of Trust! You’ve likely heard ads on the TV or radio about the Camp Lejeune class action lawsuit for U.S. military veterans and their families exposed to tainted water at the camp. Marketing agencies and law firms spent over $40 million advertising the lawsuit. Now, scammers are jumping on board too, hoping all the media attention makes it easier to trick people, especially military personnel, into falling for common scam tactics. How the scam...

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Your Moment of Trust

A Podcast by   A BIG Thank you to for Supporting this Podcast Welcome to this week’s edition of Your Moment of Trust! Retailers and shippers traditionally hire seasonal workers to fulfill holiday shoppers' demands, whether online or in person. These jobs are a great way to make extra money, sometimes with the possibility of turning into a long-term employment opportunity. However, they are sometimes not all that they seem. When looking for something part-time or to fill the gap until a better opportunity comes, the Better Business Bureau has some suggestions to make the seasonal job...

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ZOMBIE DEBT...Don't Let it Come Back to HAUNT YOU! show art ZOMBIE DEBT...Don't Let it Come Back to HAUNT YOU!

Your Moment of Trust

A Podcast by BBB of the Tri-Counties:  A BIG thank you to Ayers Automotive Repair in Santa Barbara, for supporting this podcast. Welcome to this week's edition of Your Moment of Trust! Zombie debt is defined as debt that has been “raised from the dead,” so to speak. It could even be something you never owed at all.  When a person doesn’t pay a debt, the lender will take action – by phone, letter, or even a court case – to collect the money they are owed. In some cases, though, the debtor simply can’t pay or can’t be found. In other cases, the debtor files...

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Did you Make this Purchase?  DON'T ANSWER THIS TEXT! show art Did you Make this Purchase? DON'T ANSWER THIS TEXT!

Your Moment of Trust

This Podcast is Brought to you by A BIG thank you to of Santa Barbara for supporting this podcast!   Welcome to this week’s edition of Your Moment of Trust! One of scammers' favorite tactics is impersonating a person or organization you know and trust. That's the premise of this new text message scam, which has been popping up in recent BBB Scam Tracker reports. This time, con artists are impersonating your bank. How the scam works You receive a text message that looks like a fraud alert from your bank. It claims there is some unusual activity in your...

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A Podcast by BBB of the Tri-Counties:  https://www.bbb.org/local-bbb/bbb-of-the-tri-counties

A BIG thank you to Ayers Automotive Repair in Santa Barbara, for supporting this podcast. https://www.ayersrepairs.com

Welcome to this week's edition of Your Moment of Trust!

Zombie debt is defined as debt that has been “raised from the dead,” so to
speak. It could even be something you never owed at all.  When a person doesn’t pay a debt, the lender will take action – by phone, letter, or even a court case – to collect the money they are owed. In some cases, though, the debtor simply can’t pay or can’t be found. In other cases, the debtor files for bankruptcy and, depending on the kind of debt owed, the debt may be put on hold, renegotiated or discharged completely.  Sometimes, this old debt comes back to life.

Some of the most common scenarios of zombie debt are the following:

● Unpaid debts that are beyond the statute of limitations when you can be taken to
court for payment
● Unpaid debts you owe but forgot about
● Unpaid debts wiped out with bankruptcy
● Debts you already settled with the creditor
● Fraudulent charges from identity theft
● Fake debts “creditors” claim you owe as part of a scam

How does debt come back to life?

Creditors often remove old debt from their ledgers and sell it to third-party collectors. In
some cases, the debts are legitimate, but in other cases, they aren’t. When debts are
sold and re-sold, the records may be incomplete or inaccurate. Think of it as a game of
“telephone.” The more times a debt is passed around, the more chance that the related
information is wrong.

When debt collectors call

The legal treatment of old debt will depend on where you live and the type of debt in
question. Depending on the law, debt collectors are not allowed to sue for old debt if the
statute of limitations has expired, however, they are still allowed to contact you and ask
to pay off the old debt. Check the statute of limitations for each U.S. state and Canadian
province for more information. However, if you start to make payments or acknowledge the debt in some way, the action may restore the collection agency’s legal right to take the matter to court. Never agree to make a payment on a debt you aren’t sure about, even if the collection agency puts pressure on you for payment.

The best way to start is by doing a thorough investigation. Search through old records to
find bank statements and notices of payment. Gather as many facts as possible about
the debt in question. Next, within 35 days of initial contact and without acknowledging
the debt is yours, ask the creditor for a debt validation letter. The Fair Debt Collection
Practices Act (FDCPA) requires the debt collection agency to provide you with written
proof of the debt’s validity or a judgment against you, as well as the name and address
of the original creditor if the debt was resold. Once this information is gathered,
determine if the debt is really yours and if it still needs to be paid.

If you determine the debt was yours, but you already paid it, write a letter to the
collections agency and demand that they cease contact. Include proof of payment if
available. The collections agency is legally required to stop contacting you under the
FDCPA.

If you determine the debt is not yours or is invalid, write a letter challenging its validity
and where applicable, include any proof you may have. If you determine you do owe the funds and you can pay the debt, resolve the issue by first getting a payment agreement in writing and then eliminating your unresolved debt.  If you determine you do owe the funds, but you can’t pay the debt, you can pursue debt relief through bankruptcy or credit counseling.

When deciding what route to take, keep in mind that once a debt is past the statute of
limitations, collectors can no longer sue you to get payment. In addition, the FDCPA
stipulates that any unpaid debts should be removed from a person’s credit score after
seven years. If you decide to begin paying or pay in full an old debt, it could restart the
statute of limitations and affect your credit.

Learn more about ways your identity can be compromised without you even knowing it.
If you need to contact a collection agency to dispute a debt, request a debt validation
letter or ask the collection agency to cease contact, use these templates on Consumer.gov.

Remember that while most debt collection agencies are legitimate, there may be times
when a scammer is phishing for information. For more information on how to avoid this scheme, visit BBB.org/AvoidScams. If you’ve been targeted by a debt collection scam,
be sure to report it to BBB.org/ScamTracker.