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? Attempts to Collect a Debt Not Owed.

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Collection Agencies Collections Agency Credit Bureau Collections 105

Account Recovery

FEBRUARY 14, 2023

CLASS ACTION ACCUSES CREDITOR OF VOIDING PAYMENT ARRANGEMENT A plaintiff has filed a class-action lawsuit against a creditor and two collection agencies for not honoring the terms of a payment plan that she entered with the creditor, accusing them of violating the Fair Debt Collection Practices Act and state collection laws in Florida.

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Creditors Fair Debt Collection Collections Collection Agencies 100

Account Recovery

SEPTEMBER 14, 2023

Asked for a do-over, a panel of judges from the Court of Appeals for the Tenth Circuit decided they were right the first time and affirmed a District Court ruling in favor of a creditor that was sued for violating the Fair Debt Collection Practices Act because it was not licensed as a collection agency […]

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Fair Debt Collection Collections Collection Agencies Collections Agency 130

Account Recovery

JUNE 29, 2023

A District Court judge in Nevada has granted a defendant’s motion for judgment on the pleadings in a Fair Credit Reporting Act and Fair Debt Collection Practices Act case involving duplicative entries on the plaintiff’s credit report from a collection agency and a creditor related to the same debt, although the amounts of the debt […] (..)

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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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Credit Card Debt Fair Debt Collection Collection Agencies Collections Agency 130

Account Recovery

OCTOBER 9, 2024

The plaintiff won a $2,000 judgment against the apartment complex in Maryland state court for issues related to mold in his apartment, but never collected on it. The background: The case started following a dispute between the plaintiff — a former tenant — and an apartment complex. The ruling: Judge Steven D.

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Fair Debt Collection Judgment Collection Agencies Collections Agency 130

Better Credit Blog

AUGUST 31, 2020

Debt collectors are notorious for harassing consumers when they seek repayment, calling excessively and threatening to take actions that may not be legal. What you may not know is that you are protected by the Fair Debt Collection Practices Act (FDCPA), a law designed to keep third-party debt collectors in check when they contact you.

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Burt and Associates

SEPTEMBER 23, 2024

The Fair Debt Collection Practices Act ( FDCPA ) is a cornerstone of consumer protection laws in the United States. It ensures that debt collectors adhere to specific ethical and legal standards when pursuing debts. Validation of Debts Under the FDCPA, consumers have the right to dispute their debt.

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Burt and Associates

SEPTEMBER 23, 2024

The Fair Debt Collection Practices Act ( FDCPA ) is a cornerstone of consumer protection laws in the United States. It ensures that debt collectors adhere to specific ethical and legal standards when pursuing debts. Validation of Debts Under the FDCPA, consumers have the right to dispute their debt.

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Fair Debt Collection Debt collector Collections Debt Recovery 52

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. To learn more about pursuing your legal rights, contact your state’s local consumer agency. or after 9 p.m.

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Debt collector Fair Debt Collection Collection Agencies Collections Agency 98

Troutman Sanders

SEPTEMBER 8, 2023

The credit union then assigned the debt to a third-party collection agency. Following the assignment, the collection agency opened its own tradeline for the debt, while the credit union also continued to report the debt.

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Credit Corp

JANUARY 21, 2021

How Does the Law Protect Your Rights Regarding Credit Collections and Reporting? Numerous federal and state laws protect your rights to fair and accurate credit reporting. Some of those laws also cover your rights as a consumer to fair debt collection practices. How Do You Sue a Collection Agency or Other Creditor?

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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. Law firms and collection agencies serve the same purpose initially.

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Credit Management Company

FEBRUARY 22, 2022

The average American has over $90,000 of debt , and many struggle to manage this number. Therefore, many people find themselves encountering collection agencies at one point or another. Unfortunately, much of what people “know” about the debt collection industry relies more on myths than facts.

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Collection Industry News

APRIL 2, 2024

The claim: It is illegal for collection agencies to buy debt and ‘come after you’ if you send a cease-and-desist letter A March 27 Facebook post (direct link, archive link) offers advice for consumers facing debt collection. “It It) happens to probably most debts that go unpaid.”

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Credit Corp

JUNE 14, 2020

Here’s one example of how a zombie might rise with help from a collection agency. You default on a debt. The original lender or collection agency fails to collect within the statute of limitations. The unpaid debt falls off your credit report after a certain amount of time.

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Taurus Collect

JUNE 12, 2023

Thus, debt collection agencies are commonly utilised to ensure that funds due back to businesses don’t go unpaid. But how often do debt collection agencies take their clients’ customers to court? But did you know that these agencies often try to resolve your debt before resorting to legal action?

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Collection Agencies Collections Agency Collections Debt collector 52

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® Most creditors still report to old scoring models, so it’s unlikely paying off the debt will improve your credit score. How Does Collections Debt Affect Your Credit Score?

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Collections Debt collector Collection Agencies Collections Agency 126

Collection Industry News

SEPTEMBER 2, 2024

The Fair Debt Collection Practices Act (FDCPA) serves as a foundational piece of legislation protecting consumers from abusive debt collection practices. For businesses looking to streamline their debt collection process, adhering to FDCPA guidelines is essential for long-term success.

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Sawin & Shea

MARCH 16, 2021

On top of phone calls, emails, and text messages, the Consumer Financial Protection Bureau (CFPB) will allow debt collectors to message you through Facebook, Instagram, Twitter, and almost any other social media channel. The new rule also loosens the restrictions on how often creditors can contact you.

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Debt collector Bankruptcy Creditors Fair Debt Collection 98

Debt RR

SEPTEMBER 27, 2020

Although commercial debtors do not enjoy the same level of protection as consumer debtors do, this does not mean they are left at the mercy of creditors and debt collection agencies (DCAs). The business debt collection laws protect them. Like the Fair Debt Collection Practices Act, the U.S.

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Collections Debt Recovery Debtor Collection Agencies 71

Troutman Sanders

DECEMBER 14, 2023

On December 13, New York Governor Kathy Hochul signed into law S4907A , which prohibits hospitals, medical providers, or ambulance services from providing negative information about medical debt to consumer reporting agencies (CRAs). Any debt that is reported to a CRA will be deemed void.

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Account Recovery

AUGUST 12, 2024

Judge Grants MTD in FDCPA Class Action Over Language in Letter A District Court judge in New Jersey has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act class-action lawsuit, but not on the merits as the defendant had sought. Read on to hear what the experts have to say this week. More details here.

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Judgment Fair Debt Collection Original Creditor Debt collector 130

Better Credit Blog

APRIL 4, 2022

Regardless of what a debt collector might tell you, you have a lot of rights when it comes to how debt can be collected. In fact, merely mentioning that you understand your rights will, many times, stop debt collectors in their tracks. Your rights come from the Fair Debt Collection Practices Act (FDCPA).

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Debt collector Fair Debt Collection Collection Agencies Collections Agency 116

Debt RR

AUGUST 3, 2020

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. What Do Commercial Debt Collection Agencies Do?

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Collection Agencies Collections Agency Debt collector Garnishment 42

Credit Corp

NOVEMBER 1, 2020

Older debts might’ve been bought multiple times by various collection agencies. That increases the likelihood of data being misconstrued and debts being assigned to the incorrect party. You also want to make sure the debt isn’t part of an identity theft issue because you didn’t know about it already.

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Debt collector Collections Collection Agencies Collections Agency 98

Credits Inc

OCTOBER 16, 2019

million in debt was recovered by debt collection agencies. This reflects their effectiveness in debt collection as well as keeping you in business should you require their services. Here is a detailed guide to help you understand more about a debt collection agency. How They Operate.

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Collection Agencies Collections Agency Collections Debt Recovery 40

Albuquerque Law

MAY 18, 2020

When individuals get calls demanding they repay their debt, it is easy for emotions, like fear and anxiety, to take over. However, one question remains: who is calling to collect the debt? Is it a creditor or a debt collection agency? After all, they both look to collect debts.

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Debt collector Creditors Collection Agencies Collections Agency 40

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. Are they licensed and do they need to be?

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Credit Corp

SEPTEMBER 12, 2023

When a lender doesn’t receive payments for a line of credit, like a credit card or personal loan, they may choose to eventually sell that credit to a debt collection agency to get some of their money back. So if you have a debt in collections, your credit score has likely taken a dip. Here’s how to do it.

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Collections Collection Agencies Collections Agency Credit Bureau 92

True Accord

SEPTEMBER 8, 2022

A debt collector may be able to assert a “Bona Fide Error Defense” in a lawsuit alleging violations of the federal Fair Debt Collection Practices Act (FDCPA). . FDCPA : The Fair Debt Collection Practices Act (FDCPA) is a consumer protection amendment, establishing legal protection from abusive debt collection practices.

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Collection Industry News

DECEMBER 25, 2023

New YorkCNN — The Consumer Financial Protection Bureau on Friday ordered Commonwealth Financial Systems, a debt collection agency specializing in medical debt, to shut down as a result of what CFPB determined were illegal collection practices. Colorado recently enacted a similar ban.

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Collection Agencies Collections Agency Collections Fair Debt Collection 40

Better Credit Blog

APRIL 1, 2022

If you fall into hard times, the inability to pay off your credit card bills or student loans can result in your debts being transferred to a debt collection agency. Not only is this untrue, but the debt they are attempting to collect might not even be yours!

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Credit Corp

AUGUST 31, 2021

Each state has a law referred to as a statute of limitations that spells out the time period during which a creditor or collector may sue borrowers to collect debts. In most states, they run between four and six years after the last payment was made on the debt. It simply means that the debt is not legally enforceable.

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Debt collector Collections Collection Agencies Collections Agency 75

Better Credit Blog

APRIL 3, 2022

Portfolio Recovery Associates, LLC, is a collection agency that buys old debts from lenders and companies that have been unable to collect the debt themselves. Portfolio Recovery buys multiple accounts with old debt from companies that have given up and “charged off” the accounts. Ask Lex Law for Help.

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Debt collector Collection Agencies Collections Agency Garnishment 87

Better Credit Blog

OCTOBER 16, 2020

Have a collections entry from Asset Acceptance LLC on your credit report? It’s important to deal with a collections agency like Asset Acceptance quickly. Fortunately, getting a collection entry off your report and putting a stop to the debt collector’s calls is simple and straightforward.

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Sawin & Shea

AUGUST 24, 2020

Chapter 7 Bankruptcy: A petition is filed in the Bankruptcy Court seeking a discharge of most types of debts. In exchange of this discharge non-exempt assets are liquidated by a Chapter 7 trustee in order to pay creditors back something. How Does Debt Negotiation Work? Debt collection agencies can be thoroughly unpleasant.

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