Phantom Debt is costing Americans millions

ALBUQUERQUE (KRQE) – This Halloween season there’s a new fright and it’s costing Americans millions.

What’s worse than things that go bump in the night? Phones that ring at dinner time. Just intime for Halloween, there’s a new financial fright and it’s called “phantom debt.”

Financial professional, Mike Suttle from Suttle Financial Group, joined KRQE’s This Morning team to discuss what exactly Phantom Debt is and how to fight back against it. Watch Above.

Phantom debts are scams and there are ways to avoid being a victim. Some sure fire ways are to recognize the telltale signs which include not recognizing the debt, caller refuses to provide contact information and asks for personal information.

To avoid falling for this scam make sure to hang up and call creditor before paying any unrecognizable debt or even contact the Federal Trade Commission and of course do not provide any personal information and ask for the callers contact information.

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