There could be a way to make money off of robocallers

Published: Mar. 6, 2020 at 11:12 AM CST
Email this link
Share on Pinterest
Share on LinkedIn

Almost everyone who owns a phone gets those robocalls, and there may be a way to make money off them.

The Telephone Consumer Protection Act is a law that states a company must have state consent in order to call you for commercial purposes.

If they don't, the robocaller owes you, according to the Consumer Action Law Group. In order to make money from the calls you need to keep a log.

If you think you're getting a robocall, make a note of the time, date and number. If you answer it, write down anything they talk about that may give a company name, website, or address.

Then send a demand letter and see what happens.

"The kind of calls it works best for are health insurance calls, final expense calls, auto warranties and tax forgiveness, student loan forgiveness are usually from the United States even if the caller is outside the United States," said tax expert Doc Compton told WOI-TV. "But there is a certain liability transfered to the U.S. company."

Some companies will offer to settle.

A robocall fine is typically $500 or triple that if you are on the do not call registry. However, Lynn Hicks with the Iowa Attorney General's Office says most calls are from overseas and collections can be a challenge.

Latest News

Latest News