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How Effective Are Collection Agencies?

Nexa Collect

Agencies offer their agents rigorous training and access to advanced tools like skip tracing and bankruptcy scrub to improve the accuracy of their collections. Skip tracing techniques allow agents to track down debtors that have “skipped” out on their debts and are no longer reachable. Most creditors are unaware of these.

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How Effective Are Collection Agencies?

Nexa Collect

Agencies offer their agents rigorous training and access to advanced tools like skip tracing and bankruptcy scrub to improve the accuracy of their collections. Skip tracing techniques allow agents to track down debtors that have “skipped” out on their debts and are no longer reachable. Most creditors are unaware of these.

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What Are Preferential Payments in Bankruptcy?

Sawin & Shea

Before someone makes a bankruptcy filing, it is not uncommon for debtors to feel as if they have to make some tough decisions. Which creditors can they pay? This typically occurs because the debtor doesn’t have the money to pay all of their creditors, so they feel they need to rank which ones are more important to pay first.

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Dealing with Debt Collectors

Debt Free Colorado

Bankruptcy may appear to be a scary process, but it does not have to be. You may be able to apply for one of many different types of bankruptcy, each of which accomplishes various aims, depending on your specific situation. The Fair Debt Collection Practices Act (FDCPA) does not apply to original creditors or cover company obligations.

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What is Commercial Debt?

Debt RR

Due to this, the original creditors will reach out to you to obtain their due payments. A common and effective debt collection tactic, this type of lawsuit usually goes after commercial debtors to collect on commercial debt, the money you owe in addition to interest, as well as potential court and attorney fees.

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What to do When You’re Served Papers for a Debt

Debt RR

There are 35 major bankruptcies in 2019 so far, and over two-thirds happened in retail. There are two other conditions that must be met for a creditor to serve papers on a debtor. The ability to sue a debtor depends on the whether they have a registered address in the court’s geographic jurisdiction. File for Bankruptcy.

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FDCPA: 6 Things to Know About Regulation F

The Kaplan Group

Unless an exception applies, debt collectors can’t transfer a debt to another collection agency if the debt collector knows, or should know, that the consumer settled the debt; the consumer discharged the debt in bankruptcy; or the consumer filed an identity theft report.