Account Recovery

FEBRUARY 18, 2025

Mark Ravanesi is coming onto the RMAI Board of Directors for 2025, in the certified third-party collection agency seat. Over the next decade and a half, he held leadership roles with major originating creditors across the U.S. a collection agency. He is the CEO of TrueAccord. and internationally.

Collection Agencies 130

Collection Agencies Collections Agency Law Firms Original Creditor 130

Account Recovery

FEBRUARY 18, 2025

More bankruptcies mean higher charge-offs for creditors and increased reliance on third-party collection agencies. With this uptick, regulatory scrutiny may rise, leading to more complaints and lawsuits under laws like the FDCPA (Fair Debt Collection Practices Act) and Regulation F due to errors in handling bankrupt debt.

Fair Debt Collection 130

Fair Debt Collection Law Firms Bankruptcy Judgment 130

Nexa Collect

SEPTEMBER 23, 2021

Several collection agencies have been using electronic mediums like emails, social media platforms, and SMS to contact debtors. This approach is significantly different from traditional collection calls and letters. Therefore many collection agencies use a blend of traditional and electronic mediums.

Collections 130

Collections Collection Agencies Collections Agency Debtor 130

Account Recovery

JUNE 26, 2023

A District Court judge in Utah has denied a defendant’s motion to dismiss in a Fair Credit Reporting Act case, ruling that it did not conduct a reasonable investigation after the plaintiff disputed the debt because both the defendant — the original creditor — and a collection agency were reporting the debt to the credit […] (..)

Original Creditor 130

Original Creditor Collection Agencies Collections Agency Creditors 130

Nexa Collect

MARCH 22, 2022

Most collection agencies will add about additional 2 weeks to account for mailing delays and holidays. This format is located here: CFPB Debt Collection Validation Notice R19 ( as of Nov 2021). . * I want you to send me the name and address of the original creditor.

Collection Agencies 130

Collection Agencies Collections Agency Original Creditor Debt collector 130

Nexa Collect

FEBRUARY 14, 2022

By law, all debt collection calls initiated by a collection agency must be recorded and preserved for three years after the date of the call. The primary objective is to check if there was a violation of debt collection laws (FDCPA laws), and those recordings can be reviewed if there is a need. .

Collections 130

Collections Debtor Debt collector Collection Agencies 130

True Accord

JUNE 25, 2020

All debt buyers are not created equally, as some may also own fully functional debt collection agencies. Maintaining your business’ brand reputation, even in collections , should be a key part of any business decision. Hiring a debt collection agency. Pros of hiring a debt collection agency.

Collection Agencies 63

Collection Agencies Collections Agency Third-party Debt Collectors Collections 63

Credit Management Company

FEBRUARY 22, 2022

Therefore, many people find themselves encountering collection agencies at one point or another. Unfortunately, much of what people “know” about the debt collection industry relies more on myths than facts. When people believe these myths about using a collection agency, they often run into trouble.

Collection Agencies 52

Collection Agencies Collections Agency Collections Debt collector 52

Credit Corp

JUNE 1, 2023

Your credit score may improve if your collection debt is reported to a new credit scoring model—FICO 9®, FICO 10®, VantageScore 3.0® Most creditors still report to old scoring models, so it’s unlikely paying off the debt will improve your credit score. How Does Collections Debt Affect Your Credit Score? ® or VantageScore 4.0®.

Collections 126

Collections Debt collector Collection Agencies Collections Agency 126

Better Credit Blog

APRIL 6, 2022

Here are 3 proven methods to remove a charge-off from your credit report: Negotiate A “Pay for Delete” & Pay The Creditor To Delete The Charge-Off. Offer To Pay The Creditor To Delete The Charge-Off. Some creditors will claim they can’t legally remove the charge-off. Creditor Name. This isn’t true.

Collection Agencies 98

Collection Agencies Collections Agency Debt collector Creditors 98

Collection Industry News

APRIL 2, 2024

The claim: It is illegal for collection agencies to buy debt and ‘come after you’ if you send a cease-and-desist letter A March 27 Facebook post (direct link, archive link) offers advice for consumers facing debt collection. “It Now they owe you 1000 for every time they contacted you.”

Collection Agencies 40

Collection Agencies Collections Agency Creditors Third-party Debt Collectors 40

Debt Free Colorado

FEBRUARY 21, 2022

When collecting a debt from you, collection agencies must adhere to federal and state rules. Fortunately, the federal Fair Debt Collection Practices Act (FDCPA) protects all states. The Fair Debt Collection Practices Act (FDCPA) does not apply to original creditors or cover company obligations.

Debt collector 98

Debt collector Fair Debt Collection Collection Agencies Collections Agency 98

Credit Corp

JULY 29, 2024

When a lender doesn’t receive payments for a line of credit, they may choose to eventually sell that credit to a debt collection agency to get some of their money back. That line of credit will then be reported to the credit reporting bureaus as a collection account—a collections account for a credit card, personal loan, etc.—and

Collections 98

Collections Collection Agencies Collections Agency Credit Bureau 98

Credit Corp

JUNE 14, 2020

Here’s one example of how a zombie might rise with help from a collection agency. The original lender or collection agency fails to collect within the statute of limitations. That collection agency may report the debt as owed to the credit bureaus. You default on a debt.

Debt collector 98

Debt collector Judgment Collection Agencies Collections Agency 98

Sawin & Shea

JUNE 9, 2021

You may feel as if no one is on your side, but you do have some protection from collection agencies. The FTC makes sure that the FDCPA (Fair Debt Consumer Protection Act) is followed by collection agencies. There are approximately 7,000 collection agencies in the U.S.

Debt collector 94

Debt collector Collection Agencies Collections Agency Bankruptcy 94

Credit Corp

SEPTEMBER 12, 2023

When a lender doesn’t receive payments for a line of credit, like a credit card or personal loan, they may choose to eventually sell that credit to a debt collection agency to get some of their money back. So if you have a debt in collections, your credit score has likely taken a dip. Here’s how to do it.

Collections 92

Collections Collection Agencies Collections Agency Credit Bureau 92

Credits Inc

OCTOBER 26, 2019

Creditors give loans to millions of citizens, and thus credit companies are too busy to follow up on the debtors. For this reason, creditors are hiring debt collection agencies to collect debts that are 60 days past the agreed period. Therefore, the agencies act as middlemen collecting any delinquent loans.

Collection Agencies 40

Collection Agencies Collections Agency Collections Debtor 40

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.

Collection Agencies 42

Collection Agencies Collections Agency Debt collector Garnishment 42

Credit Corp

JUNE 3, 2021

How to Open a Bank Account That No Creditor Can Touch. In truth, it’s fairly rare to have a bank account that no creditor can touch. Depending on the legal situation, that could protect funds in the accounts from your creditors. The original creditor takes some actions to collect, sending you bills and statements.

Debt collector 92

Debt collector Banks Garnishment Creditors 92

Credit Corp

OCTOBER 16, 2023

Debt Verification Letter Template + Sample How Long Does a Creditor Have to Respond to a Debt Verification Request? A debt validation letter is written correspondence that debt collectors are legally obligated to send you that provides information about the debt they’re collecting. You were dealing with a debt collection scammer.

Debt collector 105

Debt collector Creditors Original Creditor Lender 105

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.

Bankruptcy 114

Bankruptcy Collection Agencies Collections Agency Lender 114

PDC Flow

MARCH 24, 2025

Your debt collection agency or accounts receivable (AR) departments top priority should be collecting as many payments as possible. Late or Delinquent Payment Phone Calls Many collection agencies and AR departments are reluctant to get rid of phone calls altogether. Use Bulk Send for large lists of contacts.

Collections 58

Collections Third-party Debt Collectors Collection Agencies Collections Agency 58

Better Credit Blog

AUGUST 21, 2020

MRS BPO LLC is contacting you because they are now responsible for collecting a debt on behalf of your original creditor. They have either been hired by the original creditor to get you to make payments, or they purchased the debt for pennies on the dollar. You can do this is one of many ways. What is MRS BPO LLC?

Debt collector 92

Debt collector Original Creditor Collection Agencies Collections Agency 92

Account Recovery

AUGUST 12, 2024

WHAT THIS MEANS, FROM MITCH WILLIAMSON OF BARRON & NEWBURGER: There are two interesting aspects of this case which a debt buyer sought to enforce an arbitration agreement contained in the original cardholder agreement. More details here. The Court pointed to the following language: “It also includes any disputes you have with our .

Judgment 130

Judgment Fair Debt Collection Original Creditor Debt collector 130

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.

Debt collector 87

Debt collector Collection Agencies Collections Agency Garnishment 87

Debt Collection Answers

MAY 18, 2023

ARS National Services is a reputable debt collection agency. Associated Recovery System Collection, also known as ARS National Services, represents multiple original and third-party creditors. This debt collection company covers all 50 states in the United States.

Collection Agencies 52

Collection Agencies Collections Agency Original Creditor Fair Debt Collection 52

Debt RR

APRIL 5, 2022

Due to this, the original creditors will reach out to you to obtain their due payments. However, if you do not pay, you could either assign the debt, sell the debt to a commercial debt collection agency, or get sued for the commercial debt. Usually, you will have 90 to 120 days to pay.

Debt Consolidation 70

Debt Consolidation Acquisition Debt settlement Creditors 70

Credit Corp

JULY 20, 2020

When you miss too many payments, your creditor may charge off the debt. A charge-off occurs when you don’t pay the full minimum payment on a debt for several months and your creditor writes it off as a bad debt. When you start missing payments, creditors will first send letters reminding you of your past-due bill.

Debt Consolidation 98

Debt Consolidation Creditors Creditworthiness Third-party Debt Collectors 98

Debt Collection Answers

MAY 18, 2023

Dealing with debt collection agencies can be unpleasant, and CCS Offices are no different. It’s common for debt collectors to purchase and sell debts, resulting in the possibility of multiple collection accounts from the same debt appearing on your credit report. Who are CCS Offices?

Collection Agencies 52

Collection Agencies Collections Agency Creditors Debt collector 52

Credit Corp

AUGUST 31, 2021

Each state has a law referred to as a statute of limitations that spells out the time period during which a creditor or collector may sue borrowers to collect debts. 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.

Debt collector 75

Debt collector Collections Collection Agencies Collections Agency 75

Taurus Collect

MARCH 8, 2022

Debt collection is a legitimate business that can involve challenging & confusing issues. Debt collectors typically work with debt-collection agencies, though some may operate independently. Why should you hire a well-experienced debt collecting agency? This ensures successful debt recovery.

Collections 52

Collections Debt Recovery Debt collector Debtor 52

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.

Collection Agencies 77

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.

Collections 40

Collections Debt collector Collection Agencies Collections Agency 40

Taurus Collect

JANUARY 2, 2023

Collections have a negative effect on your credit score. If you fail to pay back your creditor or lender or miss out on instalments regularly, they may resort to a debt collection agency or sell your account to a debt buyer. What is the difference between a collection account and a charge-off account?

Third-party Debt Collectors 52

Third-party Debt Collectors Collections Collection Agencies Collections Agency 52

Taurus Collect

JUNE 16, 2022

Having debts in the collection primarily means that a third party is pursuing you to retrieve payments for your debts on behalf of your creditors. Debt collection is a process that gives debtors certain rights that debt collection agencies must respect. Taurus Collections (UK) Ltd. to 9 p.m.,

Retrieval 52

Retrieval Debt collector Collections Collection Agencies 52

Credit Corp

JUNE 14, 2023

A charge-off is when the creditor officially writes your debt off its books as a loss. 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.

Foreclosure 89

Foreclosure Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy 89

Taurus Collect

MARCH 7, 2022

Debt collection is the approach of pursuing payments of debts owed by different entities (individuals or businesses). It occurs when a collection agency or a company attempts to collect past-due debts from borrowers. Debt collection often varies depending on the agency that is collecting the debt.

Collections 52

Collections Debt collector Collection Agencies Collections Agency 52