Nexa Collect

MAY 23, 2022

A debt collection agency will almost always allow you to make payments in installments. Should a borrower/debtor go for it or not? You will likely strike a deal to settle the debt for a lower amount (keep insisting). They would rather accept a lower amount ( like a 10% or a 20% lower settlement) than linger a debt for months.

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Nexa Collect

FEBRUARY 3, 2022

They must know how to recover the debt diplomatically instead of forcefully. Debtors are less likely to pay when they feel threatened. Since all collection calls are recorded, it is important for the management/supervisor to randomly examine at least a few collection calls daily and discuss shortcomings with their debt collectors.

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Nexa Collect

MARCH 12, 2021

Debt collection agencies in PR include Kinum , TSI , CICA, ILCA and Professional recoveries. Spanish and English-speaking debt collectors are required for Puerto Rico debt collection. Local debt collectors ). Need a Collection Agency in PR? Contact us. 981p (12)). of the inhabitants unemployed.

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Credit Corp

AUGUST 31, 2021

Getting calls from debt collectors can be frustrating and even confusing. That’s even truer when someone is contacting you about an old debt you forgot about, thought was long resolved, or didn’t know about in the first place. Can a debt collector collect after 10 years, for example? In This Piece.

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Taurus Collect

JULY 14, 2022

However, hiring a reputed debt collection agency will significantly help you as they will use multiple methods to locate your debtors and help you effectively gather your amounts. Here are a few primary resources that a debt collection agency uses to find people: Information on your credit application. Phone books. Skip tracers.

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Nexa Collect

JANUARY 14, 2023

Extra costs to comply with these laws would be passed on to businesses /creditors, who are already unwilling to pay the current costs associated with hiring a professional debt collector. This means all collection agencies must secure consumer data nearly the same way as banks. Read: Impact of the GLBA on Collection Agencies.

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FFGN COLLECT NY

MAY 8, 2024

In addition to refunding the monies, the bank also had to pay penalties for the unlawful freezing of the bank accounts. Between 2016 and 2022, Pathward wrongfully froze 1,400 bank accounts belonging to New Yorkers. The laws also prohibit banks from freezing accounts with protected wages, a set amount based on minimum wage.

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Taurus Collect

DECEMBER 20, 2021

Many businesses are turning to trusted debt collectors to take on some of the administrative load of chasing up overdue finances to protect their cash flow. Use these tips to take the stress out of searching for names for debt collectors who can deliver results like fewer outstanding invoices and more cash in the bank.

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Taurus Collect

MARCH 5, 2024

Ignoring debt collectors may seem like a temporary solution to financial woes, but it often leads to more severe repercussions down the line. Engaging with a debt collections service is a crucial step towards managing and settling outstanding debts. Legal Actions: Ignoring debt collectors can potentially lead to lawsuits.

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Stevens Lloyd

AUGUST 17, 2018

If you currently have a debtor that is making excuses for non-payment or outright refusing to pay, then you might want to consider soliciting the services of a professional debt collection agency. In the past few years, there has been a rise in the number of debtors who refusing to pay monies owed. Debt Collection Expiration.

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Collections Law

JULY 25, 2024

With a thorough understanding of the idiosyncrasies of Massachusetts collections laws, they can lend their extensive knowledge to your company’s outstanding debts with post-judgment collection strategies, like bank attachments. What is a bank attachment? A bank attachment is a powerful post-judgment collection tool.

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National Service Bureau

NOVEMBER 20, 2015

Earlier this summer, the Consumer Financial Protection Bureau issued a ruling against Discover Bank to the tune of $18.5 Basically, debt collectors were accused of contacting debtors by cell phone outside the hours of 8am to 9pm in the time zone of residence. whatever time zone they might be living in.

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Sawin & Shea

FEBRUARY 16, 2022

Some situations in which an individual may want to consider filing for emergency bankruptcy include: Wage garnishment Creditors levying your bank accounts or property An impending home foreclosure sale Imminent car repossession. The Debtor(s) need to complete the required credit counseling session.

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Jimerson Firm

DECEMBER 14, 2021

To better understand the Fair Debt Collection Practices Act, I’ve broken it down into three discernable parts: 1) Elements of a cause of action under the FDCPA. The FDCPA prohibits debt collectors from making false or misleading representations and from engaging in various abusive and unfair practices. Bank of Am. ,

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Public Citizen

OCTOBER 29, 2020

A new state survey from the National Consumer Law Center finds that not one jurisdiction’s laws meet basic standards so that debtors can continue to work productively to support themselves and their families. No Fresh Start 2020: Will States Let Debt Collectors Push Families into Poverty in the Wake of a Pandemic?

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Collections Law

JULY 6, 2021

When partnering with the experienced commercial litigation debt collection attorneys at the Law Offices of Alan M. Cohen LLC, you will find that the process of domesticating and enforcing foreign judgments against your debtors is a much more straightforward process than one would typically expect.

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Collection Industry News

OCTOBER 27, 2020

Axiom Acquisition Ventures, LLC (“Axiom”) bought Robert Valenzuela’s consumer debt from a bank after he allegedly defaulted on his personal loan payments. Axiom sent Valenzuela a letter informing him that his debt had been reassigned and instructing him to remit future payments to Axiom.

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Troutman Sanders

OCTOBER 15, 2020

Axiom Acquisition Ventures, LLC (“Axiom”) bought Robert Valenzuela’s consumer debt from a bank after he allegedly defaulted on his personal loan payments. Axiom sent Valenzuela a letter informing him that his debt had been reassigned and instructing him to remit future payments to Axiom.

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Collection Industry News

JUNE 14, 2021

Ciffa’s offices in Niagara Falls and Kenmore, debt collectors intimidated their victims with illegal threats of arrests and lawsuits. According to federal prosecutors, an elderly cancer patient in Texas was so rattled by the threats that she borrowed $500 from her sister to help pay off a debt of $1,285. Source: site.

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FFGN COLLECT NY

MAY 27, 2024

A group that includes banks, credit card companies, mortgage lenders, other financial companies, and debt collectors. In addition to educational components for consumers, the CFPB supervises and inspects banks and others to ensure compliance with the rules. How Does the Consumer Financial Protection Bureau Work?

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Taurus Collect

MAY 11, 2023

By doing so, they can learn more about your financial history and assess the best strategy to collect outstanding debt from you. It’s important to note that debt collectors are required by law to treat consumers with fairness and not harass them. This is where contacting the debtor’s employer comes into play.

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Collections Law

JANUARY 15, 2020

Collecting on your bad debt isn’t always an easy process and can be dragged out if you are not taking the most aggressive and relentless methods when dealing with your debtor. Cohen LLC for help with bad debt collection. Cohen is the last name that debtors ever want to hear. If the tactics that Mass-Con Equipment, Inc.

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Direct Recovery

JUNE 24, 2020

Like many other consumer-focused states, California has put a number of different protections in place that forbid debt collectors from garnishing those valuable stimulus checks. Let’s dive into the details and break down exactly what debt collectors can and cannot do right now. Watch Out for Those Bank Charges.

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Taurus Collect

MARCH 7, 2022

It occurs when a collection agency or a company attempts to collect past-due debts from borrowers. Hiring debt collectors are often a cost-effective alternative for businesses as it prevents you from investing your time and resources to manage your debts. How do debt collectors work?

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Troutman Sanders

JANUARY 26, 2021

Integrated Capital Recovery, LLC, Judge Ishii of the District Court for the Eastern District of California granted the Defendants’ motion to dismiss two Fair Debt Collection Protection Act claims brought by Brandon Martinez, Plaintiff, on behalf of a class of similarly situated individuals.

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Collection Industry News

JUNE 14, 2021

In 2018, Homeland Security Investigations agents got a search warrant and seized $242,088 from Nocera’s business and personal bank accounts, after convincing a judge there was probable cause to believe the funds were derived from unlawful debt collecting and wire fraud. He was required to pay $30,000 to settle the lawsuit.

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Collection Industry News

OCTOBER 6, 2020

It was a great time to be a debt collector. In August, Encore Capital, the largest debt buyer in the country, announced that it had doubled its previous record for earnings in a quarter. The company is currently not seeking new orders to seize debtors’ wages or bank account funds, she said.

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Sawin & Shea

SEPTEMBER 27, 2023

If you are a victim of debt collector harassment, it’s important to know the debt collection laws, and consider your options for debt relief. Chapter 7 is also known as liquidation bankruptcy because in exchange for receiving a discharge of most kinds of debts, the debtor has to give up non-exempt assets.

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Taurus Collect

AUGUST 15, 2023

Customer Retention: Professional agencies employ tactful strategies to recover debts while maintaining positive relationships with your customers. Here’s how: Knowledge of Regulations: Debt collection is a field governed by a multitude of regulations. Persistence: Experienced debt collectors are persistent.

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Taurus Collect

JUNE 13, 2022

The debt collection process involves recovering debts from the borrower who has initially failed to repay or recover payments on accounts that are past their due date. most people tend to think of a debt collector trying to contact debtors about some unresolved debts. The name of the original creditor.

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Debt RR

AUGUST 3, 2020

This unpaid debt can lead to a serious problem for businesses: garnishment. Bank account garnishment can create serious cash flow blocks for companies of all sizes, and those cash flow problems can compound into other issues, like payroll concerns and late payments on other accounts. Can Debt Collectors Garnish Bank Accounts in Texas?

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Collection Industry News

JANUARY 19, 2021

Those were just two of more than 1,800 loans that went to debt collectors and high-interest lenders through the Paycheck Protection Program, according to an analysis by The Washington Post. who represents debtors in collection cases. Debt collectors prosper in pandemic. Andrew Harnik/AP).

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FFGN COLLECT NY

JUNE 14, 2023

When a debtor owes a creditor money and the creditor is seeking assistance collecting the amount owed, the creditor can either use a collection law firm or a collection agency. Both can send a demand letter and call the debtor to request the outstanding amount owed. Law firms and collection agencies serve the same purpose initially.

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Debt RR

AUGUST 3, 2020

It’s not uncommon for businesses to take on debt. Sometimes, that debt gets out of hand and businesses find themselves on the receiving end of calls from commercial debt collection agencies. Calls from a commercial debt collector can create an enormous amount of stress for many business owners.

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Taurus Collect

JUNE 16, 2022

Debt collection is a process that gives debtors certain rights that debt collection agencies must respect. While the debt shown in the collection can negatively impact your credit score, the severity of the impact reduces over time. What does it mean to have debt in collections? They will call at unofficial hours.

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Taurus Collect

JULY 17, 2023

Skip tracing, also known as ‘debt collection skip-search’ or simply a ‘skip search’, is a process used by debt collectors to locate and contact those individuals who have gone to great lengths to avoid being found. It can be an incredibly effective collection tool for finding missing debtors.

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Collections Law

AUGUST 27, 2024

One often overlooked but invaluable source of data is the check you receive from your debtor. Identify where your customer banks and provides clues for accounts A check reveals the bank where your customer holds an account. Identifying the bank can also help in locating other assets that the debtor might have.

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