Taurus Collect

MAY 4, 2022

Dealing with difficult debtors for debt collection can be challenging and burdensome. However, debt collection is a vital part of a comprehensive credit risk management system for every business, whether commercial or consumer. Most people think that all debt collectors are the same. Legitimacy.

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Taurus Collect

JULY 14, 2022

However, hiring a reputed debt collection agency will significantly help you as they will use multiple methods to locate your debtors and help you effectively gather your amounts. Here are a few primary resources that a debt collection agency uses to find people: Information on your credit application. Phone books.

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National Service Bureau

APRIL 6, 2015

Debt collection companies walk a fine line between business efficiency in their primary function (accounts receivable management), while at the same time needing to respect the fact that the debtor is a valuable client to the business for whom they are running collections. 4: False statements or representation.

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Taurus Collect

FEBRUARY 23, 2023

Here’s a quick overview of debt collectors vs lawyers to help you choose the right person for your situation. When you’re faced with debt, you have two options for recovery – debt collectors or lawyers When debt looms over you, it can be a daunting prospect to figure out how to recover it.

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Taurus Collect

JANUARY 20, 2023

Are you being contacted by debt collectors? It can be tricky trying to deal with a debt collection agency , but understanding why and how they check your credit score is the key to regaining control of the situation. This allows debt collectors to assess the risk associated with extending you credit or initiating a loan.

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Firms

MARCH 12, 2016

I had never given the debt collection industry much thought but once I had started doing some investigating into the industry I quickly realized all the ways I could improve upon the experience and services that were being offered by the industry leaders. Fails to send written notice of debt. Calls repeatedly or continuously.

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Taurus Collect

SEPTEMBER 20, 2022

While there are several legitimate debt collection agencies in the industry, you should not overlook the chances that a scammer might try to take advantage of your debts. Here are a few red flags indicating the difference between an alleged debt collector and a scammer: A Scammer Will Falsely Threaten You .

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Collection Industry News

JULY 12, 2021

A recent decision in the 3rd Circuit should prompt debt collectors to review their inclusion of viewable bar codes, QR codes or other technologies when sending debt collection letters. Preferred Collections and Management Services, Inc. , Preferred Collections and Management Services, Inc. , In Morales v.

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Collection Industry News

JUNE 14, 2021

Ciffa’s offices in Niagara Falls and Kenmore, debt collectors intimidated their victims with illegal threats of arrests and lawsuits. According to federal prosecutors, an elderly cancer patient in Texas was so rattled by the threats that she borrowed $500 from her sister to help pay off a debt of $1,285. Source: site.

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Collection Industry News

JUNE 14, 2021

In 2018, Homeland Security Investigations agents got a search warrant and seized $242,088 from Nocera’s business and personal bank accounts, after convincing a judge there was probable cause to believe the funds were derived from unlawful debt collecting and wire fraud. Gregory MacKinnon, Angela Burdorf, Joseph Ciffa.

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Collection Industry News

SEPTEMBER 8, 2020

Entities are performing debt collection activities. Debt collection means requiring debtors to pay creditors outstanding due or overdue amount or property as obligated by a contract or by a decision of a competent State’s authority. In addition to debt collectors operating under Decree No.

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Qualco

JULY 13, 2021

What debt counsellors and consumer protectors described as “long overdue” poses massive economic challenges for many debt collection companies in Germany. The new regulation primarily relieves debtors who are trying to settle their debts quickly, and consequently imposes increased fees for the debt collection industry.

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Taurus Collect

MAY 12, 2024

Utilisation of Technology The utilisation of cutting-edge technology by debt collection companies in the UK represents a fundamental shift towards more ethical practices. Advanced software and tools ensure accuracy and reliability in handling debt recovery processes. Agencies need to be vigilant.

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Taurus Collect

AUGUST 23, 2023

In this blog post, we’ll explore six best practices that exemplify modern debt collection strategies, promoting efficiency while maintaining respect for the debtor’s circumstances. However, not all debt collection practices are legal, and it is crucial to be aware of your rights as a debtor or a creditor.

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Taurus Collect

JANUARY 24, 2023

But while it can be exciting to think about that refund cheque hitting your bank account soon, there’s another equally pressing reason why you should pay attention this tax season – debt collection! For many debtors, their primary contact with collectors will be through phone conversations.

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Debt Recoveries

APRIL 16, 2023

A lot of clients in need of debt collection assistance could be undecided about using commision-based debt collection or legal action. Being the first to act is also crucial because debtors can owe money to other parties who are also attempting to get paid.

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Taurus Collect

OCTOBER 21, 2022

However, it is recommended to take the assistance of a professional debt collection agency in town to ensure successful collections. What are the Workings of Tax Season Debt Collection Strategy? An efficient tax-season debt collection strategy involves an upsurge of efforts. Do you want to know how?

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Collection Industry News

AUGUST 4, 2020

The Plaintiff contends the defendant collection company routinely obtained skip traced phone numbers for debtors and loaded them into an autodialer for collection efforts. The case is Molinari v. Asset Mgmt. 18 C 1526, 2020 U.S. LEXIS 134045 (N.D. July 29, 2020). That sort of thing can get you in a lot of trouble.

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Recoverity

DECEMBER 7, 2021

No matter the B2B debt collection situation or where your debtor is, GGR has the corporate debt collection experience and proven accounts receivable management track record to successfully recover your money and become your long term debt collector solution.

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UK debt collections

APRIL 20, 2022

Bark are one such company although the emphasis appears to be on Bark benefiting from firms of debt collectors signing up to their quotes service and buying credits. If you are looking to hire a debt collection agency then it is important to compare like for like. NEVER work with rogue, unlicensed Debt Collectors.

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National Service Bureau

JUNE 26, 2015

A lot has been written about the number of complaints turning up at the CFPB regarding debt collection companies. It’s important to take the statistics with a grain of salt because the sheer number of complaints is not (in and of itself) an indicator of either good or bad debt collection behavior.

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Debt Recoveries

OCTOBER 31, 2021

The repairs to the vehicle can then be recovered or collected from the at-fault party. This recovery or debt collection can be done internally or externally, by a debt collection company. . We make initial contact with the debtor in a friendly way, acting as an agent of the insurance company.

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Taurus Collect

JANUARY 10, 2024

Inadequate In-house Resources : When chasing unpaid invoices begins to distract your staff from their primary tasks, or if your business lacks a dedicated collections team, it’s advisable to outsource this function to a professional agency. A debt collection agency can use its expertise to break this communication barrier.

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Taurus Collect

DECEMBER 18, 2023

In our comprehensive 2024 guide, we will explore the ins and outs of hiring a commercial debt collection agency. Professionalism : The agency should maintain professional communication with both you and your debtor. This fee structure ensures that you pay only when the agency successfully recovers your debt.

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Collection Industry News

DECEMBER 21, 2020

Court of Appeals for the Ninth Circuit recently reversed an award of summary judgment in favor of a defendant debt collector against claims that it violated the federal Fair Debt Collection Practices Act (FDCPA) by attempting to collect a debt that was discharged in bankruptcy and no longer owed.

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Better Credit Blog

APRIL 1, 2022

There are a handful of excellent companies that dispute claims, seek debt validation, and get a collection removed from your account. Credit Saint is one of the top credit repair companies , one that can settle your issues with Credence quickly and efficiently. Do I Have to Pay Credence Resource Management?

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FDCPA Defense

JANUARY 28, 2012

How can debt collectors avoid liability for the conduct of others? For example, generally speaking, the Act applies only to “debt collectors” who regularly attempt to collect debts that are “due another.” or an assignee of a debt, as long as the debt was not in default at the time it was assigned.”).

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National Service Bureau

JUNE 10, 2015

Debt collectors sometimes have a bad rap, but the truth is that they provide an important service to society so long as their practices are ethical in nature (i.e. Choosing the right debt collection agency is an important decision that can have both positive and negative repercussions for your business. Compare Costs.

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Sawin & Shea

DECEMBER 22, 2021

Even after 90 days, large purchases or cash advances made on credit, at a point where a debtor knew or should have known that they did not have the wherewithal to repay the debt, can lead to the creditor filing a complaint to ask the court to make that debt non-dischargeable.

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National Service Bureau

APRIL 2, 2015

If a debtor has a complaint about collection agency behavior, the CFPB is where they report it. In 2014 there were 38,751 complaints filed in the United States regarding the behavior of 1,736 different debt collection companies. The CFPB is the national consumer watchdog for the financial industry.

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Debt Recoveries

JUNE 26, 2022

The vehicle’s repairs can then be reclaimed or collected from the responsible party. Internally or externally, by a debt collection company, this recovery or debt collection might be done. . As an agent for the insurance company, we initiate initial contact with the debtor in a courteous manner.

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Troutman Sanders

JANUARY 20, 2022

On January 13, the CFPB released a bulletin, reminding debt collectors and credit bureaus of their legal obligations in light of the No Surprises Act, which protects consumers from certain unexpected medical bills. For more information, click here. For more information, click here.

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Collection Industry News

JANUARY 19, 2021

Yet the federal government’s Paycheck Protection Program last year also gave the company a helping hand: It provided $2.4 Those were just two of more than 1,800 loans that went to debt collectors and high-interest lenders through the Paycheck Protection Program, according to an analysis by The Washington Post. Andrew Harnik/AP).

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