I have a common English name (like John Smith) that has led to some interesting stories over the years. To avoid confusion, and for security, I always use my middle initial when signing legal documents, i.e., John B. Smith instead of John Smith, or my full name, John [Middle Name] Smith.
Story #1: I am driving home from work and listening to the news on the radio.
Announcer: “Breaking news! John Smith who lives in [My City] has just won a groundbreaking legal decision in his favor.”
By the time I get home fifteen minutes later, I have sixteen messages on my answering machine from reporters for ABC News, NBC News, CBS News, the New York Times, the Los Angeles Times, etc. I don’t respond to the messages and let them figure it out.
Story #2: I get a bill from a collection agency wanting me to pay $8,000 for some jewelry that “I” recently bought in San Francisco. I live 400 miles away in Los Angeles and haven’t been to San Francisco in two years. I ignore the bill because it is not my debt.
What follows next are more bills demanding payment and threatening phone calls from the collection agency.
Collection Agency #1: “We know it is you, and you’d better pay us, or we will destroy your credit rating! How about we settle for $6,000?”
At one point, the agency wants me to verify my SSN (my US government ID number) with what they have in their records, BUT I have to tell them my SSN FIRST to see if it matches. (Not happening!)
Every time I tell them “No!”, the settlement price drops until it is down to $1,000. I call a lawyer to see what my options are. He tells me to just pay it or else they will ruin my credit rating.
Me: “Your advice is to just pay them the $1,000 so they will leave me alone? That sounds like extortion to me.”
I ignored my lawyer’s STUPID advice. I never gave that collection agency a dime, and my credit rating didn’t suffer.
Story #3: Another collection agency contacts me about a $20,000 bank loan that is in default. Again, this is not my debt but a fraudulent loan taken out in my very common name. My legal signature always includes my middle initial, (John B. Smith). This loan was taken out by a person using the name John Smith, who lived in a different city than me.
On the phone with the agency representative, I ask him to show me some proof that it is my signature on the loan papers. His reply makes me laugh because he acts like that’s a VERY unusual request.
Collection Agency #2: “You want to see your signature on the loan papers? I don’t have access to those documents.”
I eventually got three copies of the checks written on the loan, and you didn’t have to be a handwriting expert to figure out that they were written by three different people. Not one of them matched my writing or my signature.
I didn’t pay that agency $20,000, and my credit rating never suffered.