Debt RR

SEPTEMBER 9, 2020

Due to the frustration they encounter when collecting debts, they may resort to outsourcing the debt collection process to a collection agency for small businesses. Collection agencies for small businesses are third-party establishments that collect overdue payments or funds from default accounts.

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True Accord

MARCH 19, 2025

Layers of Laws and a Patchwork of Regulations: Federal, State, Local The complexity of debt collection laws begins with the different layers of laws and regulations that businesses must adhere to. Ready to partner with an industry-leader in compliant digital-first debt collection? How do they manage change?

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Nexa Collect

JUNE 27, 2023

Employ a Collection Agency : If the borrower is unresponsive or unwilling to pay, employ the services of a collection agency. The agency will then take over the task of contacting the borrower and attempting to collect on the debt.

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American Profit Recovery

MARCH 30, 2023

As a debt collection agency that works with small business and large organizations, we hear the disappointments regularly from people just like you we are consulting with. When we conduct our free consultations for debt collections , it’s one of the first things we hear.

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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

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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Payment Savvy

JULY 21, 2020

We don’t need to justify the vital role collection agencies play in our economy. Agencies also help consumers stay accountable for their financial purchases with manageable repayment plans. Are you interested in opening a collection agency? Obtain a Collection Agency Merchant Account.

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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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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). . CFPB: The Consumer Financial Protection Bureau (CFPB) is an agency of the United States government responsible for consumer protection in the financial sector.

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True Accord

FEBRUARY 11, 2025

And while last year saw different governing bodies and providers make a lot of progress handing down guidelines and best practices for better consumer experience overall, our experts expect the next wave of successful new regulations to come from the states versus the federal legislation.

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National Service Bureau

APRIL 15, 2015

Last week we wrote about 2014 CFPB complaints against debt collection agencies. An unusually high 31% of all payday loan collection complaints related to improper communication tactics. Governing regulations are found in the Fair Debt Collection Practices Act and the Telephone Consumer Protection Act.

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Nexa Collect

JUNE 24, 2023

As per my knowledge, there are no clear guidelines from the government for a debt collector who wants to work from home. You should discuss these points with the compliance superior of your collection agency. In the United States, for example, debt collectors must adhere to the Fair Debt Collection Practices Act (FDCPA).

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Credits Inc

DECEMBER 11, 2018

The Fair Debt Collection Practices Act (FDCPA) protects consumers from abusive, unfair, or deceptive conduct a bad debt recovery agency might display. In any case, reputable agencies know that such immoral and repulsive tactics rarely work. Myth #3: Debt Collectors Only Handle Large Debts.

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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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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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True Accord

MARCH 4, 2025

Add on evolving compliance regulations and the modern debt collection challenges mount. Staying on Top of the Shift Toward a Consumer-Centric Compliance Model Traditionally, compliance in debt collection focused primarily on following established regulations, such as the Fair Debt Collection Practices Act (FDCPA) and Regulation F.

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Troutman Sanders

SEPTEMBER 15, 2020

On September 4, 2020, the Second Circuit Court of Appeals overturned summary judgment granted to a debt collector who had sent collection documents to the wrong person, ruling that it was not entitled to the bona fide error defense because it lacked procedures governing the factual mistake. Wagner, Jr.

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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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Better Credit Blog

NOVEMBER 3, 2020

Advanced Collection Services is a debt collector that works on behalf of other companies to get people to pay up on their old debts. The problem is that sometimes they get information wrong and try to collect the wrong amount or from the wrong person. What is Advanced Collection Services?

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Collection Industry News

SEPTEMBER 29, 2020

17, 2019 on the CFPB’s Notice of Proposed Rulemaking for the Fair Debt Collection Practices Act of 1977. Unfortunately, fear of plaintiff’s litigation and the “overshadowing” doctrine force collection agencies to use stiff and confusing statutory language that consumers deem intimidating.

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Sawin & Shea

JULY 20, 2022

Have you ever been incessantly contacted by a debt collection agency trying to get money from you? Many individuals experience unwanted contact from debt collectors and are unsure how to approach the situation. In this blog, we discuss what debt collectors in Indiana can and cannot do according to the law.

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Direct Recovery

NOVEMBER 19, 2020

In late September of 2020, Governor Gavin Newsom signed two new pieces of legislation into law that could have a lasting impact on the way that commercial debt collection agencies are able to operate here in the state of California. Debt Collection Licenses. Impact on Collection Agencies.

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Better Credit Blog

FEBRUARY 15, 2021

Though you may be unfamiliar with Fairway, the agency collects on a wide range of consumer debts, including the following: Health insurance billing and follow-up. Self-pay collections. Government fines and fees. After some time, they may turn your debt over to collections. Parking tickets.

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Better Credit Blog

JULY 7, 2020

The agency could also be contacting you by mistake, which can be exceptionally frustrating as debt collection agencies are notorious for their repeated phone calls. Whatever the case, having a collections account on your credit report can result in incessant phone calls, letters, and a lower credit score.

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Payment Savvy

OCTOBER 20, 2021

When your company incurs a commercial debt, it should be handled by a B2B debt collection agency to avoid situations like this and to keep your business functioning smoothly without the monetary consequences of unpaid accounts receivable. What is B2B Debt Collection? Why use a B2B Debt Collection Agency?

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Credit Management Company

JANUARY 25, 2022

Even when you try to send customer debt collection requests, they have fallen on black days. After speaking with colleagues, you were told about the possibility of commercial debt collection agencies taking over. This is known as business-to-business debt, these firms specialize in debt recovery owed by businesses.

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Better Credit Blog

AUGUST 7, 2020

When a debt collection agency contacts you, it also does damage to your credit score. While owing money to a debt collector can harm your credit score and confronting the agency might seem like a daunting task, there’s no need to worry. And you may not have to pay the collections agency a dime in the process.

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Debt Collection Answers

MAY 18, 2023

ARS National Services is a reputable debt collection agency. The Fair Debt Collection Practices Act (FDCPA) and other laws provide you with rights and protections that you can use to fight back against such behavior. They may be calling from 833-734-2955 or contacting you via mail through PO Box 469046.

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Direct Recovery

JUNE 7, 2022

Because of that, changes have been made to update the rules and regulations that govern those collection efforts and how they impact consumers. Reviewing the Fair Debt Collection Practices Act. Consumers also have the option to opt out of any form of communication with a debt collection agency.

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Taurus Collect

NOVEMBER 15, 2023

Regulations around debt collection are strict, and experts from no cure no pay debt collection UK are here to help you navigate these waters. In this post, we will explore the rights and regulations governing debt collection in the UK.

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The Kaplan Group

OCTOBER 19, 2020

FDCPA ( Fair Debt Collection Practices Act). The Fair Debt Collection Practices Act (FDCPA) is a federal law that restricts the behavior of collection agencies when they are attempting to collect money from individuals. The law does not apply to collecting from businesses.

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Taurus Collect

MAY 11, 2023

Overview of The Credit Card Debt Collection Process Credit card debt collection can be a stressful experience for both the debtor and the creditor. The creditor then hires a debt collection agency to start the collection process. Here are some tips to keep in mind when selecting a provider: 1.

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Better Credit Blog

FEBRUARY 18, 2021

You may start getting calls from a debt collector. Failing to pay your bills will cause the debt to move to collections. This means that your original creditor has officially handed the account over to a collection agency that will hound you for payments. government agencies. healthcare providers.

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Direct Recovery

AUGUST 1, 2024

Common examples of consumer debt collection scenarios might include a credit card company attempting to recover unpaid balances, a hospital seeking repayment for medical bills, or a mortgage lender attempting to recover delinquent mortgage payments.

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Credit Management Company

DECEMBER 20, 2018

Patient collections can be a challenge any time of the year, but are particularly stressful during the Holiday season. Some collection agencies make the mistake of pausing collection efforts during this time of the year to avoid increasing tension between the healthcare provider and the patient. Timing is Everything.

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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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Better Credit Blog

OCTOBER 5, 2020

Penn Credit might pop up on your credit report under a few other names, such as: CBE Collections. Penn collection agency. Thankfully, you can get a collection off your report pretty easily. Try out one of the approaches below, and you could be collections-free in a few weeks. Get your debt validated.

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