Credit Corp

JUNE 3, 2021

To be able to levy or garnish your accounts, creditors and collection agencies have to go through legal channels. The original creditor takes some actions to collect, sending you bills and statements. The creditor may turn your account over the collections, and a collections agency repeats the process.

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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. Here’s everything businesses need to know about commercial debt collection agencies and how to manage communication without disrupting day-to-day operations.

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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. In other words, when the original creditor has been unsuccessful in collecting on a debt, it will write off the debt as a loss.

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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. In addition to making threats, this debt collection agency might tell you that if you pay off the debt in full it will be removed from your credit report completely.

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Collection Agencies Collections Agency Garnishment Fair Debt Collection 77

National Service Bureau

MAY 27, 2015

We’ve got an entire blog post detailing how medical collections are distinguished from other debts, but in this one, we’ll focus on the top two complaints generated as a result of collection agencies pursuing medical debt. This is an important caveat for anyone in the debt collection industry.

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Better Credit Blog

APRIL 1, 2022

Write a letter to the original creditor or collection agency and ask them to remove the negative entry from your credit history as an act of goodwill. This is most effective when you’re trying to remove late payments, paid collections, or paid charge-offs. Medical Collections. Charge Offs. Late Payments.

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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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Credit Corp

FEBRUARY 23, 2024

Key Takeaways: Zombie debt arises based on collection agencies. It may be possible to settle zombie debt with your original creditor. The Fair Debt Collection Practices Act (FDCPA) helps protect you from harassment. Collection activities are the most common causes of a zombie debt outbreak.

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Credit Corp

JUNE 14, 2023

Keep in mind that a creditor writing off your unpaid debt as a loss doesn’t mean you don’t owe the debt. Your creditor may sell your charged-off debt to a collection agency for pennies on the dollar. The collection agency may then attempt to collect the debt anew.

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FFGN COLLECT NY

DECEMBER 12, 2023

Is there a law in NYC that protects consumers and debtors from debt collecting agencies, businesses, and their attorneys? Suppose you are under constant pressure from these agencies and their legal representatives to settle your debt. There are many ways to request debt verification, such as writing a request letter.

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Troutman Sanders

OCTOBER 17, 2023

In 2017, the plaintiff filed a class action lawsuit alleging the defendant was a “collection agency” that had “filed numerous lawsuits … to collect the consumer debts allegedly owed by New Jersey consumers on defaulted credit accounts at a time when [it] was not properly licensed” under the NJ Licensing Act.

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Credit Management Company

AUGUST 9, 2022

A statement that if the consumer notifies the debt collector in writing within the 30-day period that the debt, or a portion of the debt, is disputed, the debt collector will obtain proof of the debt of a copy of the judgment against the consumer. Validating debt is just one step in the collections process.

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Taurus Collect

NOVEMBER 15, 2023

As a debtor, you have the following rights: Right to Privacy: Debt collectors are not allowed to share information about your debts with anyone else except your attorney or the original creditor. The FCA regulates debt collection agencies and can take action if they’re found to be violating regulations.

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Debt Collection Answers

MAY 18, 2023

They can request a default judgment from the court if they contact you and you fail to respond within 20 days. A default judgment enables DNF Associates, LLC to seize your bank account, garnish your wages, and take other damaging legal actions against you. DNF Associates initiates legal proceedings against numerous individuals.

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Consumer Financial Services Law

AUGUST 14, 2017

Capital Management Services, the collection agency sent a single letter which identified the original and current creditor, the account number as “5702” and the amount of the debt as $565.91. In Powers v. Capital Mgmt Servs., 2017 U.S.

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Consumer Financial Services Law

JANUARY 22, 2021

Finally, if the validation notice is being sent electronically, a statement explaining the consumer can dispute the debt or request original creditor information electronically. The Rule additionally requires the following additional prompt: “I want you to send me the name and address of the original creditor.”

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FDCPA Defense

NOVEMBER 11, 2014

Finally, the notice must contain “a statement that, upon the consumer's written request within the thirty-day period, the debt collector will provide the consumer with the name and address of the original creditor, if different from the current creditor.” 1692g(a)(4). 1692g(a)(5). at § 1692g(a)(4), (5). at § 1692g(b).

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FDCPA Defense

JANUARY 28, 2012

Debt buyers are being sued based on the conduct of their agencies and law firms. Lawyers and agency owners are being sued based on the conduct of their clients and their collectors. Even original creditors, who are not subject to the FDCPA, are being drawn into FDCPA litigation under various theories of recovery.

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Consumer Financial Services Law

MAY 25, 2021

Preferred Collection and Management Services, Inc., While the case will continue to be contested in the Eleventh Circuit, collection agencies and others who rely upon third party vendors have been left to contemplate what comes next. What Does this Mean Regarding Collection Agencies’ Current Use of Third Party Vendors?

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Account Recovery

DECEMBER 2, 2024

WHAT THIS MEANS, FROM JESSICA KLANDER OF BASSFORD REMELE: The court found that the debt collector’s actions did not violate the FDCPA because an agency is not legally required to respond to a dispute so long as it has ceased collections. This point is worth emphasizing: You don’t have to respond to a dispute if you stop collections.

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