How to Financially Recover From a Romance Scam

Imagine talking to someone that you really thought could be the one, only to find out that they were only a catfish. Many victims find out that the person they’re talking to isn’t who they say they are on a daily basis and are left heartbroken to find out that the person they thought they loved was only after their money. Romance scammers pretend to be someone and come up with fake emergencies in order to scam their victims out of thousands of dollars. Victims often become hopeless, thinking that they can never get their money back after being scammed. However, it is possible to financially recover from a scam! At Social Catfish, we give you all the tips and tricks on how to financially recover from a scam.

You Found Out You’ve Been Scammed… Now What?

After finding out that the person you’ve developed a relationship with is a scammer, you might be feeling heartbroken, broke, and alone. All your money went to funding their emergencies since you thought they needed help, but now you’re starting to see they were all just lies. Now you’re probably wondering where to even start when it comes moving on from all of this and get back on your feet. While you might think it’s impossible, the reality is it’s possible to get back to being happy and financially stable like you once were.

The first thing you need to do is to cut all ties with the romance scammer and block them immediately. While it might be hard to stop contact with someone who knows so much about you, it is the only way to guarantee that they won’t guilt trip you out of more money. You can find companionship in someone else that is who they say they are one day, but for now, you need to say goodbye to the person lying about their identity and scamming you out of thousands of dollars. No one deserves to be scammed and lied to, so by blocking them you are also reassuring yourself that you deserve better. Also, make sure to document every detail of the scam you have been through to make reporting it easier.

While working on yourself emotionally is extremely important, it is also important to get your finances back in order. This is why we have given you many tips and tricks on how to financially recover after a scam. Keep scrolling to read all the tips that Social Catfish recommends!

You can also run a search to see if you’re being scammed! If you run a reverse image search on their pictures and find that they belong to someone else, then most likely you are being scammed.

Run a reverse search here:

How to Financially Recover After a Romance Scam

Report the Scam to Your Bank or Credit Card Company: By reporting the scam to your bank or credit card company, you increase your chances of getting the money you lost back after a scam. You can also change your account details and card numbers to prevent scammers from stealing more of your money. Your financial institution can also provide you with resources on how to recover financially from a romance scam.

File a Report With the FTC: In some cases, the FTC can trace your money back to the scammer and get your money back. According to Discover, the FTC was able to recover $232 million for scam victims in 2019 alone.

Report Identity Theft if Your Identity Was Stolen: If someone has access to your personal information and is pretending to be you in a case of identity theft, then it doesn’t matter if you try to change your banking details. They will still be able to act like you to get their hands on your money. Therefore, if someone stole your sensitive information and committed identity fraud with it, it is a good idea to report it to IdentityTheft.gov. They provide you with resources to gain access to your identity again.

Change All Passwords to Your Online Accounts the Scammer Has Access To: Sometimes, scammers will ask for your online account information so that they can find your financial information on certain online accounts. By changing your passwords, you’re reassuring yourself that a scammer can never log in to your online accounts again and that your money is safe again.

Freeze Your Credit or Request a Fraud Alert: If a scammer has access to your identity, then it is a good idea to either freeze your credit or request a fraud alert. When you freeze your credit, you restrict access to your credit report which could prevent a scammer from applying for a credit card or a loan under your name. However, with a fraud alert, your credit report isn’t restricted but credit agencies still need to verify it’s really you before approving a credit card or a loan. Depending on your circumstances, you could choose either option to protect your credit from scammers.

Social Catfish is Here to Help You

If you are still unsure about whether or not you are talking to a scammer, Social Catfish is here to help you! At Social Catfish, we want to help you verify the identities of those who might seem suspicious to you. If you have their name, email address, phone number, social media username, or image, you can reverse search and see who the suspected person was that you’ve been in contact with after reading about how to recover financially from a romance scam. Also, make sure to report any scam that you have been a victim of to the FTC. They will provide you with excellent resources that will help you recover financially and emotionally.