Account Recovery

FEBRUARY 17, 2023

The amount of outstanding debt hit $16.9

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Account Recovery

AUGUST 14, 2024

The original lawsuit centered around whether the current creditor to whom the debt was owed was properly identified in a collection letter. The Background: The plaintiff defaulted on a credit card debt that was owed to First Premier Bank.

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Taurus Collect

MAY 11, 2023

If you have ever had to deal with credit card debt, you know it can be stressful. Debt collectors call at all hours of the day and pressure is put on borrowers to quickly make payments in full. The process begins when the debtor stops making payments on their credit card and goes into default.

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Payment Savvy

NOVEMBER 5, 2020

Each state gives creditors and collection agencies varying times to file suit on unpaid and delinquent credit card debt. Dependent on the state, debt collectors are allotted a finite timeframe to file suit against consumers with past due credit card balances. How Statutes of Limitations Work.

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Nexa Collect

JANUARY 16, 2023

Impact of Rising Interest rates on Consumer Debt. Credit Card Debt: Higher monthly payments since they charge a higher interest rate. Need a collection agency that can quickly work on your outstanding invoices? Most economists believe that a recession is inevitable. Higher mortgage and car loan payments.

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Credit Corp

JANUARY 9, 2025

While many people have at least some credit card debt, once it gets too high, it can be overwhelming and anxiety-inducing. Recent credit card debt statistics show the average American household has over $9,000 in credit card debt.

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Collection Industry News

DECEMBER 1, 2022

Collections agencies buy your unpaid credit card debt from your card issuer when your balance lingers too long — but that doesn’t mean it goes away. But if you’ve let it go unpaid for months, your issuer could pass it on to one of over 7,000 third-party collections agencies in the U.S.

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Credits Inc

OCTOBER 26, 2019

Creditors give loans to millions of citizens, and thus credit companies are too busy to follow up on the debtors. For this reason, creditors are hiring debt collection agencies to collect debts that are 60 days past the agreed period. Therefore, the agencies act as middlemen collecting any delinquent loans.

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Sawin & Shea

JULY 28, 2021

Credit card debts: Although credit card debt dropped in 2020 (possibly because of Covid and the fact that people were staying at home), the average household credit card debt is $ 5,315. Collection agency bills. That’s 530,000 families per year in the United States.

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Bankruptcy Credit Card Debt Chapter 13 bankruptcy Chapter 7 bankruptcy 105

Better Credit Blog

OCTOBER 16, 2020

Have a collections entry from Asset Acceptance LLC on your credit report? If Asset Acceptance is on your credit report, it’s probably because you forgot about a bill. It’s important to deal with a collections agency like Asset Acceptance quickly. Credit card debt. Retail debt.

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Better Credit Blog

APRIL 1, 2022

To remove Capital One Collections from your credit report, you first need to know who currently owns the debt. In other words, has Capital One sold your unpaid credit card debt to another collection agency, or is the debt still with Capital One? Ask Credit Saint for Help.

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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.

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Albuquerque Law

JUNE 30, 2021

Many people might think that social media has nothing to do with their finances – especially when it comes to debt. Social media plays a role in increasing credit card debt. This expansion has led to several reports that social media has indeed impacted individuals’ credit card debt. Debt collectors.

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Better Credit Blog

APRIL 6, 2022

This is important to understand in case you’re contacted by a collection agency you don’t recognize. This can happen with credit card debt, unpaid personal loans, or even hospital bills. How Does a Charge-Off Affect Your Credit Score? Will My Credit Score Improve if I Pay the Charge-Off in Full?

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Better Credit Blog

APRIL 4, 2022

Most commonly, a debt collector will try to make you feel guilty, implying you’re stealing or not doing your part as a responsible citizen by not being able to pay your medical bills or credit card debt. Many collection agencies purchase old debts from various companies after the company has written off the debt.

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Debt Guru

JULY 26, 2020

If you don’t pay your credit card bill on time, you’ll face late fees, higher interest rates, and damage to your credit score. Continued missed payments will subject you to a world of financial hurt: Your card could be frozen, you could be hassled by a collection agency, and you might get sued.

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Sawin & Shea

AUGUST 24, 2020

Bankruptcy may affect your credit score (it sometimes can make your score better!), Whether or not you file for bankruptcy also depends on the kind of debt you have. Bankruptcy can also stop or delay a home or mortgage foreclosure, stop collection actions, stop garnishments and lawsuits. How Can I Stop Collector Harassment?

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Credit Corp

DECEMBER 14, 2020

Whether you have medical debt, credit card debt or unpaid student loans , getting calls or letters from debt collection companies can be frustrating. But it’s especially frustrating if your debt is several years old. If you know you owe the debt and you now can to pay it, you can do so.

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Taurus Collect

JUNE 16, 2022

Having debts in the collection primarily means that a third party is pursuing you to retrieve payments for your debts on behalf of your creditors. Debt collection is a process that gives debtors certain rights that debt collection agencies must respect. Taurus Collections (UK) Ltd.

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Better Credit Blog

FEBRUARY 4, 2021

DFS is a third-party collections agency with its headquarters in Scottsdale, Arizona. The agency can be reached at the following address: 3710 West Greenway Road, Suite 131. DFS primarily collects on healthcare debt, as well as: Commercial debt. Credit card debt. Utility debt.

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Financial services Debt collector Collection Agencies Collections Agency 69

National Service Bureau

APRIL 2, 2015

The Consumer Financial Protection Bureau (CFPB) releases raw data every year regarding complaints and collection agencies. At National Service Bureau we pride ourselves on ethical collection processes. If a debtor has a complaint about collection agency behavior, the CFPB is where they report it.

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Sawin & Shea

OCTOBER 26, 2022

In addition to unsecured personal loans, there are other types of unsecured debts, such as: Medical bills. Credit card debts. Additionally, you can discharge a loan regardless of whether the original lender has the loan or whether the lender sold it to a collection agency or debt buyer.

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National Service Bureau

JUNE 23, 2015

These trends are relevant to debt collectors and collection agencies as well , so we’ll explore the relevant pieces in this blog post. Household debt’ is an umbrella term that encompasses many types of financial obligations - credit cards, auto loans, mortgages and more. For comparison, there was $0.86

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Credit Corp

MAY 19, 2021

Overwhelmed with debt? Whether it’s unpaid credit card debt or medical bills, you might feel like you have nowhere to turn. If you’re seriously considering uprooting your life just to avoid debt, you probably have a few questions. To avoid a collection agency, and your debt, simply move out of the country.

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National Service Bureau

MARCH 29, 2015

According to the Consumer Financial Protection Bureau there were 38,751 Debt Collection complaints filed in 2014, a 67% increase from the average rate in 2013. It is especially relevant when dealing with sensitive issues such as student debt or medical billing, where the circumstances are oftentimes out of the debtor’s control.

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Credit Corp

AUGUST 31, 2021

This means that even a debt that is older than that may still be able to be collected on if you’ve made a payment sometime in the last four to six years. In some states, a collection agency cannot try to collect at all once a debt is past the statute of limitations. Validate the debt.

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Better Credit Blog

APRIL 11, 2022

Although accruing lots of debt isn’t ideal, it may sometimes be unavoidable, such as mortgage payments or student loans. In these situations, debt is considered positive mainly because your financial objective has value and long-term benefits. This list should include any personal loans, mortgages, car leases, and credit card debt.

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True Accord

MARCH 5, 2024

Today, about 61% of American households have credit card debt and the average credit card debt balance sits at $5,875. In January, overall delinquency grew with a 2.31% increase in delinquent accounts and 10.49% in delinquent balances month-over-month.

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Sawin & Shea

NOVEMBER 8, 2023

Factors like inflation, high interest rates, and economic uncertainty have found more and more Americans relying on credit cards to get by. In fact, Americans are at an all-time high when it comes to credit debt to the tune of $1 Trillion. On average, Americans individually carry about $7,951 in credit card debt.

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Collection Industry News

JUNE 29, 2024

Consumer debt continues to accelerate at an alarming rate—particularly credit card debt—driven by a culture of consumption. Credit card debt is one of the most worrisome due to the high interest rates charged by credit card companies, which can leave consumers with never-ending debt loads.

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Albuquerque Law

JUNE 30, 2021

Many people might think that social media has nothing to do with their finances – especially when it comes to debt. Social media plays a role in increasing credit card debt. This expansion has led to several reports that social media has indeed impacted individuals’ credit card debt. Debt collectors.

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Credit Corp

MAY 9, 2023

So, be sure to save any payments made or communications you had with any creditor or collections agency. When the clock for the statute of limitations on debt begins varies from state to state. It either starts when you miss your first payment or when you have the last communication with the creditor or debt collector.

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Better Credit Blog

OCTOBER 14, 2020

Asset Recovery Solutions, LLC, is a completely legit debt collection agency headquartered in Illinois. While you might not be familiar with Asset Recovery Solutions, it collects on a wide range of debts, such as: Auto loans. Consumer debts. Credit card debt. Retail debt.

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Better Credit Blog

OCTOBER 21, 2020

Absolute Resolutions Investments LLC is a debt collection agency. If they’re contacting you or have appeared on your credit report, it’s important to handle the situation as quickly as possible. While one collections entry might not do terrible damage to your credit, it can lower your score for 7 years.

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Better Credit Blog

OCTOBER 21, 2020

Absolute Resolutions Investments LLC is a debt collection agency. If they’re contacting you or have appeared on your credit report, it’s important to handle the situation as quickly as possible. While one collections entry might not do terrible damage to your credit, it can lower your score for 7 years.

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Troutman Sanders

OCTOBER 26, 2020

Plaintiff Joseph Degroot defaulted on a credit card debt, which was subsequently placed with a collection agency. The agency sent the plaintiff a collection letter stating that “interest and fees are no longer being added to your account,” which the plaintiff took to mean that the account had been charged off.

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Collection Industry News

JUNE 1, 2023

The growing complexity of financial products, such as credit cards, mortgages, and student loans, has led to a surge in outstanding debts. This presents a substantial opportunity for debt collection agencies to assist lenders in recovering unpaid debts and managing default risks.

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