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Collection Agencies Collections Trade 
Account Recovery
NOVEMBER 30, 2020
A $24 million judgment has been entered against a collection agency and one of the agency’s co-owners has been ordered to divest himself of his ownership stake in the company that purchased the collection agency in question after it was accused by the Federal Trade Commission of collecting on “phantom” payday loans, “purported” (..)
Nexa Collect
JUNE 19, 2020
These receivables are usually B2B accounts that require commercial debt collection. A collection agency with its three-step collection process can assist businesses to recover money in an amicable manner. Need a collections agency for your business: Contact us. Written Notices sent by a Collection Agency.
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How To Break Digital Transformation Barriers And Accelerate AI Adoption
The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience
Account Recovery
NOVEMBER 30, 2020
FTC Secures $24M Judgment Against Collection Agency; Appeals Court Affirms Ruling in FDCPA Class Actio appeared first on AccountsRecovery.net.
Nexa Collect
JUNE 21, 2023
Debt collection agencies are subject to various data security rules and regulations to protect consumer information. Fair Debt Collection Practices Act (FDCPA) : While primarily focused on the practices and behaviors of debt collectors, the FDCPA also contains provisions that protect consumers’ personal information.
Account Recovery
NOVEMBER 5, 2024
The Federal Trade Commission has filed a lawsuit and received a temporary restraining order freezing the assets and taking control over a Georgia-based debt collection agency, Global Circulation, Inc., after it was accused of using deceptive and abusive tactics to collect debts from consumers.
130 
Account Recovery
DECEMBER 5, 2024
of the booklet brings several important updates for banks under OCC supervision, but these changes also carry implications for entities beyond traditional OCC-regulated institutions, such as debt collection agencies and fintech firms. Version 1.1
Nexa Collect
NOVEMBER 26, 2022
As per FTC, starting June 9, 2023 all collection agencies will be treated as financial institutions. This means all collection agencies must secure consumer data nearly the same way as banks. Failure to comply with GLBA can have severe consequences for the collection agency, especially the owners and/or the CEO.
Account Recovery
MARCH 11, 2025
Why it matters: For professionals in debt collection agencies, debt buying companies, fintechs, banks, credit unions, and consumer finance firms, these findings underscore a growing vulnerability among older borrowers. Credit card debt can jeopardize retirement security.
130 
Account Recovery
OCTOBER 12, 2020
A District Court judge in Maine has granted a trade association’s motion for judgment after it sued the state for enacting laws that governed how, among other things, medical debts are reported to credit reporting agencies by collection agencies.
UK debt collections
JUNE 1, 2022
Debt Collection Agencies could help save thousands of Small Businesses in the UK it is claimed. History shows that taking professional debt collection action can help save the number of Small Businesses from going bust. Debt Collection Agencies have a key role to pay. Government support for Small Businesses.
Credit Corp
NOVEMBER 9, 2020
If you or someone you know has dealt with a collection agency, you know how trying it can be. Debt collection agencies have a long history of harassment and illegal practices. Can a collection agency report to a credit bureau without notifying you? A collection account can significantly affect credit score.
UK debt collections
MARCH 5, 2025
Bristol based debt recovery business which didnt hand over money is shut down An Insolvency Service investigation found that Encore Capital Group Inc Ltd trading as Encore Debt Recovery failed to fully hand over the money it collected it has been revealed.
UK debt collections
JUNE 11, 2021
The High Court has shut down a rogue Debt Collection Agency it has emerged. The Debt Collection Agency spuriously claimed to be able to collect debts from liquidated companies. They would offer to collect from liquidated company directors ‘personally’ which is contrary to UK insolvency law.
Account Recovery
FEBRUARY 18, 2025
Prior to joining Velocity, Michael co-founded a fintech consulting firm, Maxwell & Graves Solutions, and was responsible for building and leading Collections & Recovery at Prosper Marketplace. Mark Ravanesi is coming onto the RMAI Board of Directors for 2025, in the certified third-party collection agency seat.
American Profit Recovery
JUNE 13, 2024
You can even add in possible debt collection activity after a certain period of time such as 60 days. Other businesses such as the trades and those in the repair industry issue invoices right on the spot. That’s why it is good business practice to have a relationship with a debt collection agency that understands your industry.
Account Recovery
APRIL 4, 2024
A bill has been introduced in the Colorado legislature that would make it an unfair or deceptive trade practice for a debt collector or collection agency to take any legal action on a debt unless it has purchased complete ownership or the debt. The bill is an attempt to reform the hospital and healthcare industry […]
130 
American Profit Recovery
MARCH 4, 2022
This is a program established by the Federal Trade Commission and one that we fully embrace. Everyone here at American Profit Recovery understands that as a collection agency we need to be as transparent as possible. Should I be afraid to speak with a debt collection agency? How do I use my credit intelligently?
205 
UK debt collections
JUNE 8, 2021
A Scam Debt Collection Agency Boss has been sent to prison for 4 years and 10 months. The Dodgy Debt Collector took cash payments from clients to help recover money but did so with no intention of collecting what they were owed. Dodgy Debt Collection Agencies. This company was wound up in April 2018.
UK debt collections
APRIL 14, 2022
If you’re running a Business and searching for a debt collection agency (DCA), it is essential you choose the right solution. As with any Business sector, not all debt collection agencies are equal. Performing basic checks should help you determine which Debt Collection Agency is best for your Business.
Account Recovery
AUGUST 6, 2020
Most collection agencies are private companies, and do not have to release their financial statements. But there are a couple of companies that are publicly traded and one of them released their second quarter … The post Encore Posts Strong 2Q Financial Results appeared first on AccountsRecovery.net.
American Profit Recovery
OCTOBER 13, 2022
We handle debt collections for lawn care businesses, as well as others such as professional plumbers, electricians, and others in the trades that rely heavily on transportation to conduct their work. Once again, our lawn care clients we handle debt collections for are a great example. Using that collection agency effectively.
Credit Corp
JUNE 1, 2023
Your credit score may improve if your collection debt is reported to a new credit scoring model—FICO 9®, FICO 10®, VantageScore 3.0® If you’ve gotten behind on payments to a creditor or lender, your debt could be sent to collections after around 120 days of missed payments. In This Piece: What Is Collections Debt?
126 
Taurus Collect
JULY 14, 2022
Moreover, the older the obligations get, the harder it is to collect the payment. 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. This helps them smoothly carry out their debt collection process.
PDC Flow
FEBRUARY 27, 2025
The debt collection process can be tricky. Collection agencies must follow regulations strictlyor youll find your business in jeopardy. Compliance can be even harder when scammers actively try to disrupt your debt collection practices through call baiting. First, What is Call Baiting? Why Do People Call Bait?
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Taurus Collect
JANUARY 24, 2022
Searching for collection agency names is a stressful proposition because you want to ensure you are working with an honest, efficient, and experienced debt collection agency. Why You Might Need a Debt Collection Agency. Why You Might Need a Debt Collection Agency.
Credits Inc
DECEMBER 3, 2019
In 2016, debt collection services collected a combined total of $78.5 While you might not have considered partnering with an accounts receivable collection agency before, the truth is they can be a valuable asset to business owners across the United States. Taking the Burden Off of Your Business. Expert Insights.
Collection Industry News
AUGUST 30, 2024
A Collection Agency means a person who engages directly or indirectly in the business of collecting for, or soliciting from another, a consumer claim; or collecting a consumer claim the person owns, if the claim was in default when the person acquired it. 1-101) doing business as a collection agency.
True Accord
MARCH 19, 2025
Debt collection is a complex, evolving industry, and compliance with the myriad of federal, state, and local laws is an ongoing challenge for organizations in the field. Its not just about staying current within the debt collection industry; looking to related industries can also provide a competitive advantage.
Taurus Collect
NOVEMBER 15, 2023
Dealing with a collection agency can often feel like navigating a maze, especially when there seems to be a change in your account’s open date. If you’ve found yourself in this situation, you’re likely asking, “Can a collection agency change an account’s open date?”
American Profit Recovery
SEPTEMBER 27, 2020
When we speak with professionals whether in person, by the phone or even at trade shows, we are always asked about some of the tactics they should employ to get their customers to pay on time. Especially if you are running a trade business. Here are some of our expert tips. How to get clients to pay faster. Invoice Immediately.
Taurus Collect
JUNE 5, 2019
Let’s go straight in on this one, because we know what makes a good collection agency. So here are 5 tips to choose a good collection agency for your business: Reputation & trustworthiness – always look for an agency with at least 5 years of trading history. How To Find A Good Collection Agency.
Nexa Collect
OCTOBER 31, 2022
It is recommended to assign accounts for collections roughly when they are between 60-90 days past due for a maximum recovery rate. Based on clients we came across last year (2021), here is the average recovery rate we have seen, along with our collection agency partner(s). Contractors, Special Trade. Recovery Rate.
130 
True Accord
FEBRUARY 11, 2025
Keeping up with compliance in the debt collection industry can be a challengeespecially as artificial intelligence, machine learning, and other advanced technologies sweep through both the business and consumer sectors. TrueAccord is a licensed, bonded, and insured collection agency in all jurisdictions where we collect.
56 
True Accord
MARCH 4, 2025
Over the past several years, federal and state regulators have started raising red flags about a significant trend in the debt collection industry: companies failing to deliver positive experiences for consumers or properly manage complaints and disputes. Add on evolving compliance regulations and the modern debt collection challenges mount.
52 
UK debt collections
JUNE 8, 2022
Letters being sent by a Debt Collection Agency to drivers who fail to pail Tyne Tunnel fees are “initimidating and misleading” debt charities have warned. The Debt Collection letters advise of potential fines and even criminal convictions. The initial penalty is £60 on top of the original £1.90
75 
Taurus Collect
SEPTEMBER 9, 2019
Our clients know that debt collection agency charges are a big factor in deciding how to collect their debts, and that is why we always compare our debt collection agency charges with competitors. Debt Collection Agency Charges. Simplified debt collection rates, starting @ 8% commission.
National Service Bureau
JUNE 10, 2015
In reality, debt collection agencies are the most useful means to get someone who has a legitimate contractual obligation to make good on their promise so that the honest businessman (perhaps yourself or your company) on the other side of the trade doesn’t get left holding the bag. Research the Company. Do they have insurance?
Collection Industry News
SEPTEMBER 6, 2022
The Preferred Group of Tampa, a collection agency in Tampa, FL, has announced that they are addressing the common complaints regarding debt collection. The Preferred Group of Tampa, a collection agency in Tampa, FL, has announced that they are addressing the common complaints regarding debt collection.
PDC Flow
SEPTEMBER 29, 2020
I went in-house as corporate counsel at a collection agency, where I oversaw legal, compliance, and training. I loved, loved, loved the synergy between compliance and training – it also gave me the opportunity to partner with the collection floor from a different perspective than just “compliance” and it was a lot of fun.
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Troutman Sanders
OCTOBER 7, 2020
New Mexico’s Attorney General Hector Balderas announced on September 29 that his office has filed three lawsuits against debt collection companies. In his statement , Balderas explained that these lawsuits are part of a larger “crackdown” aimed at educating consumers and eliminating abusive debt collection practices within the state.
Credit Corp
AUGUST 31, 2021
Can a debt collector collect after 10 years, for example? Can a debt collector collect after 10 years? Time-barred debts and your credit report What to do if you are contacted about an old debt COVID-19 and debt collections. Can a Debt Collector Collect After 10 Years? Find out in the informational guide below.
PDC Flow
OCTOBER 20, 2020
However, trade organizations – like the California Association of Collectors (CAC) – remain dedicated to providing resources and networking opportunities for members, just as in years past. Cease collection of the debt. You should always follow call recording laws during collection calls. But, there are FDCPA implications.
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Sawin & Shea
JUNE 9, 2021
You may feel as if no one is on your side, but you do have some protection from collection agencies. The FTC (Federal Trade Commission) is an arm of the United States government that enforces consumer protection and antitrust laws. There are approximately 7,000 collection agencies in the U.S.
Credit Corp
AUGUST 24, 2020
When you’re trying to conquer unpaid debts sent to collections, you’ll likely face some obstacles. Once you’ve accomplished these tasks, you may still be wondering how to pay collections to a debt collection agency. Find out how to pay collections below. Know Your Rights.
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