TEXAS AMONG TOP STATES BEING TARGETED BY DEBT COLLECTION SCAMS

By: Gretchen Andsager Americans now owe over $1 Trillion in credit card debt, it may come as no surprise that younger generations are finding themselves targeted by opportunistic scammers. A new report by BadCredit.org revealed 78% of millennials and Gen Z report being targets of debt collection scams. When it comes to the states dealing with the most debt collection scams, Texas had the sixth most debt collection scams at 48.5 per 100,000 people in 2023. States with the most debt collection scams ranked (per 100,000): 1. Georgia: 77.8 2. Delaware: 63.1 3. Florida: 61.6 4. Nevada: 59.1 5. South Carolina: 57.9 6. Texas: 48.5 7. Tennessee: 46.7 8. Alabama: 45. 4 & Louisiana: 45.4 9. Maryland: 44.0 10. North Carolina: 42.8 On average, young adults have lost $3,067 to scams so far in their lifetime and nearly half (46%) of millennials and Gen Zers are concerned about falling victim to a financial scam. In 2023, the FTC received more than 124,400 debt collection scam reports. Th e most common types of scams young adults report falling victim to? Phishing, identity theft , and mobile payment scams. How to Identify a Debt Collection Scam While debt collection is legal, there...