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What Is a Debt Collector and Why Are They Contacting Me?

Taurus Collect

A debt collector might sound like a character from a Charles Dickens novel, but if you’ve been contacted by one, you know they’re very much a reality of modern financial life. So, what exactly is a debt collector? What Is a Debt Collector? Why Are They Contacting Me?

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How Do Debt Collection Companies Operate?

Taurus Collect

The debt collection process involves recovering debts from the borrower who has initially failed to repay or recover payments on accounts that are past their due date. When asked about “what collection agencies do?”, most people tend to think of a debt collector trying to contact debtors about some unresolved debts.

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Signs That You Need a Commercial Debt Collection Agency Urgently

Taurus Collect

In such circumstances, resorting to a commercial debt collection agency becomes not just an option, but a necessity. A popular choice among UK businesses is a “ No Cure No Pay ” debt collection service. This model ensures that you only pay if the agency successfully retrieves your debts.

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The Limits On Direct And Vicarious Liability Under The FDCPA

FDCPA Defense

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.”).