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?”

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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. Some baiters hope suing an agency can lead to a settlement.

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Hudson Weir

DECEMBER 10, 2024

A charging order is a legal tool that allows a creditor to secure a debt against a debtors property. A court may issue a charging order following a CCJ against the debtor this judgement would confirm the debt is valid and there is a legal right to enforce it. What is a charging order?

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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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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

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Debt Recoveries

DECEMBER 14, 2020

Slow paying debtors means more cash is locked-up so you cannot use it to pay your own bills and staff; this is usually the biggest contributor to bad cash flow. Debtors paying sooner will create a faster flow of cash so you can reduce your borrowings, or fund growth more easily. Do you have a credit application form?

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Stevens Lloyd

JULY 30, 2018

However, the trade gap between international countries and the United States has been bridged. Due to the increased level of import-export trade between the U.S. trades with, the United Kingdom has one of the lowest import/export ratios of indebtedness. The roles played by Credit Bureaus and collection agencies.

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UK debt collections

JANUARY 3, 2023

Beware of trading while insolvent. A business needs to be aware if it is trading whilst insolvent. There are highly technical tests but, in essence, it’s whether someone looking at a businesses situation would reasonably expect that it could trade your way out of your difficulties. If a Limited Company wants to cease trading.

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Taurus Collect

JANUARY 10, 2024

The key objective of these rules is to ensure fair play between the creditor and the debtor, preventing any kind of harassment without compromising the debt recovery process. The Fair Trading Act : This law prevents businesses from using unfair tactics when they are collecting debts.

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Taurus Collect

AUGUST 19, 2020

This year has been more than challenging for UK businesses with the evolving COVID situation and No Win No Fee Debt collection is becoming more important than it has ever been. As a b2b collection agency, we feel it is our duty to help businesses from all industries collect debts quickly. No Win No Fee Debt Collection.

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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. Can a Collection Agency Report an Old Debt as New?

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Taurus Collect

DECEMBER 20, 2021

Most collection agencies will work on percentages, which means they will take a small cut of what is owed to a business in return for taking over the collection of outstanding financials. Finding a collection agency you can rely on isn’t always easy. Finding Trusted Debt Collectors. Read Their Reviews.

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National Service Bureau

AUGUST 19, 2015

There are those organizations who are licensed, professional, effective, and ethical, and then there are those who would take advantage of specialized knowledge or the opportunity to take money unlawfully from debtors. Let’s take a look at some of the miscreants in the debt collection industry. Or no legitimate debt buyer?

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Better Credit Blog

AUGUST 31, 2020

The Fair Debt Collection Practices Act is the federal law that sets rules for how debt collectors can contact debtors, protecting consumers from unethical or inaccurate collection attempts. The law specifically limits how and when collections agencies can contact you, and it allows you to dispute debts.

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Credit Management Company

AUGUST 9, 2022

Before you can collect on any debt, you need to validate the debt in accordance with the Fair Debt Collection Practices Act. The Federal Trade Commission (FTC) has established debt collection guidelines to protect consumers from predatory collections practices. Here’s what you need to know about debt validation.

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Credit Corp

OCTOBER 16, 2023

While a debt collector contacting you can be stressful, it’s important to pause and remember your rights as a debtor. The debt collection industry is subject to mishaps and mistakes, with some individuals being asked to pay debts they don’t owe. You were dealing with a debt collection scammer.

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Collections Law

APRIL 5, 2022

What does a collection attorney do? Some collection agencies simply send threatening letters, but may not provide much follow through. This means we examine the debtor’s financial assets and ask the court to secure them for collection before we receive the court’s judgment in your favor.

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Burt and Associates

SEPTEMBER 23, 2024

Definitions Debt collector : Any person or agency whose primary business is collecting debts on behalf of others, including collection agencies, lawyers who regularly collect debts, and companies that buy debts for collection.

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Burt and Associates

SEPTEMBER 23, 2024

Definitions Debt collector : Any person or agency whose primary business is collecting debts on behalf of others, including collection agencies, lawyers who regularly collect debts, and companies that buy debts for collection.

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Taurus Collect

JUNE 10, 2022

Hence, your business’s income will greatly vary every month with a high customer turnover, while the companies with returning trade will forecast more accurately. Also, do not hesitate to hire a reputed and well-experienced debt collection agency to help you simplify the burden while ensuring timely payments.

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National Service Bureau

AUGUST 28, 2015

The Fair Debt Collection Practices Act was first passed almost 40 years ago to govern the tactics used by debt collection agencies pursuing consumer debt. Whether you’re in the business of collecting your own outstanding accounts receivable, or looking to outsource that work, FDCPA compliance is very important to consider.

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Credits Inc

SEPTEMBER 20, 2019

Thus, the first thing you should do when researching a potential debt collection agency to work with is assessing where their strength lies. Your best approach would be to hire an accounts receivable collection agency that concentrates on dealing with government agencies. Are They Insured?

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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. 6) The resurrected debtor. Adapting live conferences to a digital format has created many challenges for events coordinators this year.

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National Service Bureau

DECEMBER 9, 2015

Here, we share three mistakes gleaned from a study of Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) enforcement actions. Read on to learn about trending items, and the hosts recommendations for collection agencies to avoid these pitfalls! Race-based bias in collection activities.

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Troutman Sanders

JUNE 21, 2023

Currently, only Bitcoin, Ethereum, Litecoin, and Bitcoin Cash are available for trade on EDX. Securities and Exchange Commission (SEC), requesting approval to offer spot Bitcoin exchange-traded fund (ETF) called “iShares Bitcoin Trust.” For more information, click here. On June 15, BlackRock, Inc., According to the prospectus, U.S.-based

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Taurus Collect

JULY 12, 2022

Step3: Do not forget about the trading terms and conditions (make sure to revisit and update whenever needed). Do you need a reliable debt collection agency to assist you in carrying out a stress-free collection of your business debts? At Taurus Collections (UK) Ltd., We are here to help!

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Debt Recoveries

AUGUST 29, 2021

Slow paying debtors means more cash is locked-up preventing you from using it to pay your own bills and staff; this is normally the biggest contributor to poor cash flow. Debtors paying sooner will create a faster flow of cash so you can reduce your borrowings, or fund growth more easily. . Do you have a credit application form?

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Debt Recoveries

MARCH 26, 2020

Slow paying debtors means more cash is locked-up preventing you from using it to pay your own bills and staff; this is normally the biggest contributor to poor cash flow. Debtors paying sooner will create a faster flow of cash so you can reduce your borrowings, or fund growth more easily. Do you have a credit application form?

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AGA

OCTOBER 19, 2018

As a 3 rd party collection agency, we have heard it all when it comes to why once good paying customers that were easy to work with are now past due, no longer ordering and unresponsive to your attempts to contact them. Trade references. At least three trade credit references should be contacted and all of their banks.

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Troutman Sanders

OCTOBER 19, 2021

These FAQs are a Compliance Aid designed to help collection agencies comply with Reg F, which goes into effect on November 30, 2021. State Activities: On October 26, the Maryland Office of the Commissioner of Financial Regulation will host a free online information session for Maryland consumer debt collection agencies.

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On Guard

MARCH 15, 2022

A dealer who sells passenger cars usually receives the sale amount after 23 days, while the trade in heavier commercial vehicles must wait no less than 40 days for payment. This often prevents the route to collection agencies and bailiffs. But the differences are big. Fully automated. Take out credit insurance.

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Troutman Sanders

MAY 23, 2023

Earlier this month, the Federal Trade Commission (FTC) modified its Telemarketing Sales Rule (TSR) guidance webpage to clarify the requirements for obtaining consent to deliver calls with prerecorded messages and the elements of assisting and facilitating liability. For more information, click here. For more information, click here.

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Debt RR

SEPTEMBER 9, 2020

Also known as a demand letter, a collection letter is an official notification drafted by a lender or debt collections agency and sent to a debtor to remind them of their delinquent payments. Debt collection letters can be issued to both commercial and consumer debtors. Debt Warning Letter.

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FDCPA Defense

APRIL 17, 2019

Instead, the letters had been mailed by collection agencies that had used an attorney’s letterhead in a misleading fashion. 1993), a collection agency sent letters to “approximately one million debtors each year” using a computerized mass-mailing system, on letterhead listing “P.D. In Clomon v. Jackson , 988 F.2d

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Collection Industry News

SEPTEMBER 2, 2024

Definitions Debt collector : Any person or agency whose primary business is collecting debts on behalf of others, including collection agencies, lawyers who regularly collect debts, and companies that buy debts for collection. The Act aims to curb these practices and protect consumers.

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Collection Industry News

JUNE 14, 2021

Here are snapshots of some other cases against debt collectors in Western New York that the State Attorney General’s Office, Federal Trade Commission and other law enforcement agencies have pursued in the past decade: Douglas MacKinnon. The settlement also permanently banned them from debt collection.

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Fico Collections

JANUARY 26, 2022

Optimization: Define and design a competitive collections strategy leveraging optimization. Experiment with trade-offs between decision factors and business constraints, simulate various scenarios and compare their impact on collections key performance indicators and contributions to the bottom-line.

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