This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Debtcollection is a challenging job. We must applaud agents for their remarkable efforts to collect past due receivables. Over time, however, agents do lose their zeal and ambition to rectify delinquent accounts. This is where collectionagent incentive programs come in to save the day.
The debtcollection 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 debtcollection practices through call baiting. But what are they baiting the agent to do?
Solar Service Experts, LLC highlights the potential pitfalls for solar energy providers and their collectionsagents. The class action complaint alleged that the defendant violated California’s Rosenthal FairDebtCollection Practices Act (RFDCPA) and several other state consumer protection statutes.
Commercial debtcollection agencies can be tremendously effective partners for almost any small business that offers credit to their customers. To be perfectly honest, there is not much that a commercial debtcollection agency can’t do to help improve your company’s cash flow.
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 FairDebtCollection Practices Act (FDCPA).
Earlier this year, California State Senator Bob Wieckowski introduced a bill that would require all California debt collectors to obtain a license from the state’s Department of Business Oversight. If that should happen, what changes would we be likely to see to the California debtcollection landscape?
Taking on debt is one of the most common ways to fuel a rapidly growing small business. But that debt can quickly become an anchor weighing down the entire company if growth sputters, and the resulting collections can be even more problematic than the debt in the first place. What is Commercial DebtCollection?
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.
Getting hassled about an outstanding collection account over social media is the last thing any consumer wants to deal with. Still, many collectionagents argue that it is the most productive means of communication in 2022. Reviewing the FairDebtCollection Practices Act.
In what is supposed to be an increase in protections offered to consumers, an updated version of the FairDebtCollection Practices Act (FDCPA) was passed in the fall of 2020 that brings that iconic piece of legislation up to date with modern forms of communication. Defining Types of Communication.
Debtcollection may sound simple; a consumer owes outstanding monies, so you reach out to collect on the past due balances. Every word matters in debtcollection phone calls. The right words can get an individual to pay their debts. However, it’s not that easy, especially for third party collectors.
Risk mitigation strategies in debtcollection are measures and practices implemented by collection agencies or creditors to minimize potential risks associated with debtcollection activities. Here are some common risk mitigation strategies in debtcollection: 1.
Under the FDCPA (FairDebtCollection Practices Act), third-party debtcollectionagents are not allowed to contact you asking for payment once you have filed for bankruptcy. Inform the caller that you have filed for bankruptcy and tell them to stop contacting you. Give the caller your case number.
Is your credit score suffering because of debt in collections? Debt collectors can add stress to your everyday routine, calling constantly, sending letters, and even worse, damaging your credit. However, Atlantic Credit & Finance, LLC, is a legitimate debtcollection agency. New to debtcollection?
The CFPB is expected to announce proposed debtcollection rules in the near future that may incorporate the theory. The “meaningful attorney involvement” doctrine evolved out of the FairDebtCollection Practices Act, 15 U.S.C. How did everything go wrong for creditors’ rights attorneys? 1692, et seq. the “FDCPA”).
Miller, a Kenmore debt collector, is under investigation by federal Homeland Security Investigations agents for alleged wire fraud in connection with unlawful debtcollecting. Agents seized $90,385 from Miller in 2020 while executing a raid at a Kenmore home he owns. Provided by Mark M. John Hickey.
We organize all of the trending information in your field so you don't have to. Join 19,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content