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More proof that there is plenty of interest from investors in the accountsreceivablemanagement industry came yesterday, in the form of a $12 million Series A funding announcement from Prodigal, a technology company that provides an automation platform for debt buyers, debtcollectors, and creditors rights law firms.
Troutman Pepper Attorneys, David Anthony and Jonathan Floyd recently published the article, “The Inconvenience of Convenience Fees” in ACA’s Collector Magazine. The Consumer Financial Protection Bureau and other regulators also continue to monitor the legality and appropriateness of such convenience fees.
Our commercial debt collection agency is certified by the oldest and most prestigious creditors’ rights association in North America, the Commercial Law League Of America (CLLA). The post GGR appeared first on Recoverity.
In fact, they are a multifaceted company that can be a part of the debt collection process in the early stages (pre-charge of recovery) or the post-collection stage. The first thing to know about working with any debtcollector is to not make any arrangements solely over the phone, make sure the arrangement is completed in writing.
Without the hassle of following up on delinquent accounts, you can focus on maintaining smooth business operations. In many cases, debtors end up changing their contact information or move their houses without notifying the creditor. Business debt collection services come in handy during such unprecedented scenarios.
If you’re a creditor or collector working with financially distressed borrowers, considering consumer situations and preferences when attempting to collect and employing digital strategies to boost engagement are more important than ever. There were also a couple of notable court decisions impacting debtcollectors last quarter.
These compliance and defense litigation skills applied nicely to the accountsreceivablemanagement industry. . Soon enough, I began representing debtcollectors , defending them against consumer litigation and helping them build compliance programs in their nationwide businesses. About John Bedard. Bedard, Jr.
2020 has been an unusual year for the accountsreceivablemanagement industry (to say the least). But the year also saw numerous pieces of legislation, (CFPB’s Regulation F to California debt collection licensing and more) that will impact how collections will operate going forward. Joann Needleman. Early 2021. “I
Some consumers reported facing homelessness because of the negative impact of an eviction on their credit history reported by debtcollectors. The law does not impact most third-party collection agencies, but it does impact some creditors and debt buyers. For more information, click here. For more information, click here.
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