We’ve all received one. Those annoying calls from telemarketers or robocallers. Day or night, they’re either trying to sell you something or trying to get your personal information.
While money may be a little tight for many during the pandemic, one side hustle is helping consumers turn those scam calls into cold, hard cash.
“The reality is, you don’t have to live with these robocalls anymore,” said Doc Compton, a credit repair expert in McKinney, Texas.
NBC affiliate KXAS-TV first told viewers about Compton’s best-kept secret last summer-- how to turn robocalls into cash.
He’s capitalized on two federal laws that give consumers the power to turn those annoying calls into cash.
Both The Telephone Consumer Protection Act and The Telemarketing Sales Rule make it illegal for any business to call a cell phone using an autodialer without permission.
If the call you, they could owe you $500.
Responding to every consumer complaint
And if your number is on the national do not call registry, they owe you at least $1500.
Compton has developed a kit with step by step instructions that he sells online for $47.
Here’s how it works:
Compton said the most important step in the process, is that you have to take the call.
You'll want to keep the caller on the phone to try to get as much information as possible about who they really are. Then, ask for the name of the company, a website and an address.
The kit shows you how to then use that information to track down the company behind the call and has templates for a demand letter you’ll send to the robocallers and wait for them to contact you to make you an offer.
“You’d be surprised how they’re willing to play ball simply because they don’t want to go to court,” said Compton.
“It’s been very profitable for me. It’s helped me get out of debt,” said Matt McCormick who’s turned this into a side hustle.
McCormick and his wife signed up for the kit in November.
“The smallest settlement that I’ve ever gotten was the first one that I got for $1000. The biggest one to date that I’ve ever gotten which was in July was $13,000,” said McCormick.
That settlement was for eight different calls from the same business.
And even while talking to a KXAS / NBC 5 Responds producer—McCormick got a call from a company trying to sell him solar panels!
The McCormick’s said the extra cash has been helpful during the pandemic.
“For the people that are not working right now due to the pandemic, these people in these call rooms just like the call I just took. They’re working. Their sales teams are working. And they’ve got money and it’s your job to put the money in your pocket and that’s what I do,” said McCormick.
Since 2018 Doc said he’s helped thousands of people collect millions of dollars in settlements from robocallers.
Remember, you have to be on the national do not call registries to get the big payouts.