5 debt collection scams to watch out for

When you accept a company to pay down an old debt that is close to the statute of limitations, it renews the statute and the agency can keep billing you for the remaining balance.

Never give your Social Security Number, bank account information, credit card number or other private information to a junk debt buyer. Legitimate collection agencies will have your identifying information already and will perhaps need you to verify the last 4 digits of you Social Security Number.