Collection Agencies Consumer Credit Creditworthiness 
Debt Free Colorado
FEBRUARY 21, 2022
When collecting a debt from you, collection agencies must adhere to federal and state rules. Fortunately, the federal Fair Debt Collection Practices Act (FDCPA) protects all states. Consumer debts include credit card debts, vehicle loans, medical costs, and school loans.
Credit Corp
SEPTEMBER 7, 2020
Lenders use a multitude of scoring methods to determine your creditworthiness and make decisions about whether or not to give you credit. It gathers credit reports from the three major credit bureaus and analyzes anonymous consumer data to generate a scoring model specific to each bureau.
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FDCPA Defense
NOVEMBER 10, 2015
A furnisher may deem a dispute to be “frivolous or irrelevant,” however, if the consumer fails to provide the furnisher with sufficient information to investigate. The CFPB also required Encore to notify the collection agencies and law firms it retains whenever a debt has been previously disputed by the consumer.
Troutman Sanders
MAY 9, 2023
On May 4, Colorado Governor Jared Polis signed SB93 into law.
Credit Corp
FEBRUARY 9, 2024
Credit.com’s free credit report card tool can help you better understand your current creditworthiness and which factors you need to work on to help you improve your standing. While individual lenders may care that a credit counseling agency is repaying your accounts, FICO does not.
Collection Industry News
JUNE 10, 2024
In 2022, the three largest credit bureaus — TransUnion, Equifax and Experian — started removing paid medical debts from consumers’ credit reports. FICO® and Vantage Score, the two major credit scoring companies, have also decreased the degree to which medical bills impact credit scores.
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