Collection Agencies Financial services Student Loans 
True Accord
OCTOBER 22, 2024
For those with student loans, September marked the end of the ‘on-ramp’ to resuming payments, which was the set period of time that allowed financially vulnerable borrowers who missed payments during the first 12 months not to be considered delinquent, reported to credit bureaus, placed in default, or referred to debt collection agencies.
Better Credit Blog
NOVEMBER 2, 2020
Then you may start to hear from a company called Action Financial Services. Action Financial Services is a debt collection agency that may have been hired by the original owner of your debt. What’s worse is that Action Financial Services’ entry can be viewed by potential lenders down the line.
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Troutman Sanders
JANUARY 9, 2024
CICA Collection Agency, a First Circuit case in which the CFPB has filed an amicus brief. In that case, after an individual filed for bankruptcy, a debt collector sent the consumer a collection letter that said the consumer could be sued if they did not pay the debt — a process the CFPB believes is against the law.
Better Credit Blog
SEPTEMBER 9, 2020
Have you noticed a company called Phoenix Financial Services on your credit report? If you have, this has probably been accompanied by calls from them to collect on a debt. This is because collection accounts on your credit report can have a significant impact on your score for up to seven years. That is not the case.
Troutman Sanders
JUNE 21, 2023
million to consumers harmed by Arete Financial Group, a student loan debt relief operation that tricked consumers into making illegal upfront payments by pretending to be affiliated with the U.S. Department of Education and falsely promising student loan debt relief. For more information, click here.
Troutman Sanders
MAY 9, 2023
On May 4, Colorado Governor Jared Polis signed SB93 into law. For more information, click here. On May 1, Oklahoma Governor Kevin Stitt approved HB1443.
Troutman Sanders
OCTOBER 19, 2021
The Office of Enforcement will be responsible for oversight of enforcement actions against postsecondary schools that participate in the federal student loan, grant, and work-study programs. These FAQs are a Compliance Aid designed to help collection agencies comply with Reg F, which goes into effect on November 30, 2021.
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