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If needed, your potential debt collection agency will also access your debtor’s personal banking information to determine whether your debtors have money to repay the debts, including their savings and investment accounts. A professional debt collection agency will send letters and notices to your debtor’s residential address.
Even originalcreditors, who are not subject to the FDCPA, are being drawn into FDCPA litigation under various theories of recovery. For example, generally speaking, the Act applies only to “debt collectors” who regularly attempt to collect debts that are “due another.” Retrieval Masters Creditor Bureau, Inc. ,
Simply put, it’s an individual or a debt collection agency in the UK employed by a creditor to retrieve funds that are overdue. In the UK, debt collectioncompanies operate under strict regulations set forth by the Financial Conduct Authority (FCA). So, what exactly is a debt collector?
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