Nexa Collect

JUNE 4, 2022

Many collection agencies have shut down recently due to the following reasons. Covid-19 Pandemic : Collection agencies were barred from collecting money in many states during the pandemic, impacting revenue from existing accounts. Medical debts form nearly 50% of consumer debt collections.

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Collection Agencies Collections Agency Collections Debt Recovery 130

American Profit Recovery

DECEMBER 4, 2020

If your organization has had challenges in getting customers to pay or pay on time, you have most likely taken the steps to work with a collection agency. You have probably interviewed a few collection agencies and you have finally chosen a company that you can work with and that fits your needs. Submitting accounts.

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Collection Agencies Collections Agency Collections Credit Bureau 168

Account Recovery

JUNE 29, 2021

What Credit Karma says in its reports about a consumer’s credit history is not gospel, a District Court judge in Tennessee has ruled, granting a defendant’s motion for summary judgment after it was accused of violating the Fair Debt Collection Practices Act because it allegedly communicated information to a credit bureau after it was instructed (..)

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Fair Debt Collection Credit Bureau Judgment Collections 182

Credit Corp

JULY 29, 2024

Collection accounts are bad for your credit score. These negative marks on your credit report indicate you might not pay your bills on time—or ever, which is why lenders don’t like to see them. Collection accounts can stay on your credit report for up to 7 years. What Are Collection Accounts?

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Collections Collection Agencies Collections Agency Credit Bureau 98

Account Recovery

FEBRUARY 24, 2025

Appeals Court Reverses Arbitration Ruling for Defendant in Collection Case A New Jersey Appeals Court has overturned a lower courts ruling in favor of a defendant that had granted arbitration in a collection lawsuit more than a year after the complaint had been filed and litigated. More details here. More details here.

Debt Buying 130

Debt Buying Debt collector Credit Unions Credit Unions 130

Credit Corp

JANUARY 21, 2021

A collections notice shows up, a debt collector starts calling or you find a negative report on your credit history, but you know you paid the account in question. Can you sue a company for sending you to collections for money you didn’t owe? How Does the Law Protect Your Rights Regarding Credit Collections and Reporting?

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Credit Corp

SEPTEMBER 12, 2023

You can remove collection accounts from your credit report by disputing inaccuracies, asking for goodwill deletions, or requesting a pay for delete agreement. Collection accounts are bad for your credit score. So if you have a debt in collections, your credit score has likely taken a dip.

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Collections Collection Agencies Collections Agency Credit Bureau 92

Account Recovery

OCTOBER 11, 2023

A class-action lawsuit has been filed against a pair of healthcare providers, alleging they violated state law in California by sending confidential medical information to a third-party collection agency, which was subsequently publicized as a result of a data breach.

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Collection Agencies Collections Agency Healthcare Collections 147

Nexa Collect

JUNE 28, 2022

Collection agencies offer two types of collection services to their clients. In the Fixed fee service a collection agency sends multiple written demands only. In the Contingency service one written debt validation notice is sent followed by collection calls from an experienced debt collector. No upfront fee is involved.

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Debt Recovery Collection Agencies Collections Agency Collections 100

Fico Collections

SEPTEMBER 15, 2022

Saudi Credit Bureau Delivers Access To Loans For Millions with Score. SIMAH worked closely with lenders to show the importance of incorporating credit scoring in originations, account management and collections. Read this blog on financial inclusion and the social good that can come from credit scores.

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Account Recovery

OCTOBER 28, 2024

A District Court judge in Georgia has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act case, ruling that despite multiple disputes and complaints with the Consumer Financial Protection Bureau, the plaintiff failed to adequately state a claim for relief in the original or amended complaint.

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Fair Debt Collection Collections Credit Bureau 130

Fico Collections

AUGUST 23, 2021

For most of the credit-eligible US population there is sufficient traditional credit bureau data available for calculating a FICO® Score. An independent study conducted by the CFPB reached very consistent conclusions to our own, sizing the ‘credit invisible’ population at 26 million consumers.

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Nexa Collect

JANUARY 14, 2023

The US government has thrown a slew of laws on collection agencies, making bad-debt recovery harder and costlier. There are thousands of collection agencies in the USA, but most are small. The following changes can result in many collection agencies shutting their businesses. . Read: Impact of the GLBA on Collection Agencies.

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Fico Collections

SEPTEMBER 24, 2021

For example, in the US, 92 percent of consumers have cell phones, but just 5 percent of consumers have telco data reported in their traditional credit bureau files. Figure 1: Credit bureau coverage is greater for some types of data than others. FICO has a solution to this problem. market. .

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Account Recovery

AUGUST 16, 2021

A District Court judge in Nebraska has admitted he made a mistake and thrown out a jury verdict in favor of a defendant, determining that the plaintiffs in a Fair Debt Collection Practices Act class action should be the prevailing parties, and awarding $39,000 in damages and attorney fees.

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Fair Debt Collection Collections Judgment Credit Bureau 246

Account Recovery

DECEMBER 31, 2021

A District Court judge in Nebraska has rejected a defendant’s objection to the award of attorney’s fees in a Fair Debt Collection Practices Act case, and has agreed to the plaintiff’s request to award more than $265,000 while also denying a request from the defendant to stay the injunction while the ruling is being appealed … (..)

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Fair Debt Collection Collections Credit Bureau 245

True Accord

JUNE 29, 2023

Let’s take a look at how the new updates to GLBA Safeguards Rule, how these security policies are important specifically for debt collection, and what best practices your business should follow to protect consumers’ data. Ready to collect more, faster from happier customers?

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Collections Financial Institution Debt collector Debt Recovery 98

The Kaplan Group

JUNE 25, 2020

Commercial collection agencies like ours specialize in collecting on B2B debt. If your business is getting calls from a collection agency, you may wonder how this will affect your business credit. Why Worry About Your Credit Rating? Like personal debt, being sent to collections can affect your credit rating.

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Collections Collection Agencies Collections Agency Collection Agent 64

Credit Corp

MARCH 20, 2023

In This Piece What Is a Credit Dispute? Can Disputing a Collection or Credit Hurt You? What to Do If Your Credit Dispute Is Denied How Many Times Can You Dispute a Collection or Inaccurate Credit Item? What Is a Credit Dispute? A credit dispute can refer to a few things.

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Credit Bureau Fair Debt Collection Creditors Collections 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. There are approximately 7,000 collection agencies in the U.S.

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Debt collector Collection Agencies Collections Agency Bankruptcy 94

Direct Recovery

MAY 4, 2024

One of the most common misunderstandings about the debt collection industry is that many consumers believe that debt collectors can only come after them if they provide a social security number at the time the debt is incurred. However, those consumers often find that this is not the case once those debts make their way onto a credit report.

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Debt collector Collections Credit Bureau Creditors 59

Nexa Collect

APRIL 27, 2022

Credit bureaus will soon stop reporting medical debts lower than $500, remove medical line items that have been fully paid, and collection agencies now have to wait for 1 year before medical debts can be reported. These include government rules, credit scoring models and even credit bureaus.

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Healthcare Credit Unions Credit Unions Creditors 130

True Accord

JANUARY 5, 2022

Collections-as-a-Service offering is seamlessly integrated to service customer debt accounts while delivering consumer-friendly, digital-first experiences. Through an API integration, TrueAccord’s Recover debt collection solution will service charged-off debt accrued through Synapse’s lending platform. LENEXA, Kan., LENEXA, Kan.,

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Collections Financial services Credit Bureau Banks 52

Fico Collections

AUGUST 29, 2022

As the independent standard in credit scoring, FICO® Scores are the leading credit scores used extensively across the lending ecosystem ranging from originations, underwriting and account management to collections and asset-backed securitization. consumer reporting agencies (CRAs). in April 2022.

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Fico Collections

OCTOBER 24, 2022

FICO® Score 10 T incorporates trended credit bureau data. Different than traditional credit bureau data, the use of trended data considers a historical view of data such as account balances for the previous 24+ months, giving lenders more insight into how individuals are managing their credit. .

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Lender Credit Bureau Consumer Credit Loans 93

Sawin & Shea

JANUARY 28, 2021

When you hire Sawin & Shea for your bankruptcy, we give you a phone script that helps you handle collection calls. Here’s some additional information about how to handle collection calls properly when you’re working with a bankruptcy attorney. How to Use Your Collection Call Script. It could also mean money in your pocket!

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Collections Bankruptcy Creditors Original Creditor 52

Credit Management Company

JUNE 14, 2022

Debt collection can be a complex process, and consumer rights should always be a top priority. To ensure you understand how important consumer rights are, we’ve put together an overview of consumer rights in debt collection. These rules add a layer of debt collection protection for consumers at a federal level.

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Collections Collection Agencies Collections Agency Fair Debt Collection 52

The Kaplan Group

FEBRUARY 19, 2020

Whether you owe money or are owed money, you’re probably eager to know if your debt can still be collected on. A similar idea is in play when it comes to debt collection. It does not mean that you can no longer attempt to collect on the debt. The longer a debt goes unpaid the less likely you are to be able to collect on it.

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Fico Collections

JULY 6, 2020

Across EMEA, most countries have now moved past the peaks of the COVID-19 driven lockdowns and restrictions, but the challenges of debt collection in the pandemic remain. Collections departments have, for some time, been bracing themselves for a "debt tsunami" of people unable to meet their financial commitments.

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Collections Creditors Banks Credit Bureau 52

Better Credit Blog

APRIL 1, 2022

It’s smart to know how to remove negative items from your credit report, especially if you are soon to be applying for a mortgage or car loan. In fact, you can remove something from your credit history before seven years pass. Here’s How To Remove Negative Items From Your Credit Report. Collection). Credit Limit.

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Bankruptcy Collection Agencies Collections Agency Foreclosure 114

Collection Industry News

FEBRUARY 10, 2025

TransUnion (NYSE: TRU) has released its sixth annual debt collections report, revealing that 52% of debt collection companies experienced increased account volumes in the past 12 months. The post More Than Half of Debt Collection Companies Saw Increased Volume of Accounts in Past 12 Months appeared first on Collection Industry News.

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Collection Companies Collections Credit Bureau 40

Taurus Collect

NOVEMBER 15, 2023

Dealing with a collection agency can often feel like navigating a maze, especially when there seems to be a change in your account’s open date. If you’ve found yourself in this situation, you’re likely asking, “Can a collection agency change an account’s open date?”

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Collection Agencies Collections Agency Collections Debtor 52

Credit Corp

SEPTEMBER 7, 2020

One of the primary goals of VantageScore is to provide a model that is used the same way by all three credit bureaus. That would limit some of the disparity between your three major credit scores. So, what are the differences between an Experian credit score calculated using VantageScore and one calculated via the FICO model?

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Better Credit Blog

APRIL 1, 2022

If you’re unable to pay your original creditor, your debt may pass to a debt recovery agency, earning a collection letter and possibly a stain on your credit report. Credit Collection Services, known as CCS for short, is one of the largest debt collection agencies in the United States, based in Massachusetts.

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Collections Fair Debt Collection Debt collector Creditors 52

Credit Corp

MAY 23, 2021

You can also use a tool like Credit.com’s Credit Report Card or ExtraCredit to monitor your credit. When you download your credit report with ExtraCredit, you’ll see a list of positive accounts, late accounts, collections, public records, inquiries and account balances. Learn More about ExtraCredit.

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Bankruptcy Financial Institution Lender Credit Bureau 98

Fico Collections

APRIL 28, 2022

To the extent that BNPL loans are reported to the CRAs and incorporated into the core consumer credit bureau file, they will be factored into all existing versions of the FICO Score. But what might be the impact to the FICO ® Score of BNPL accounts being included in the credit report? credit card, mortgage, student loan, etc.)

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Loans Consumer Credit Credit Bureau Student Loans 98

Credit Corp

OCTOBER 16, 2023

The debt collection industry is subject to mishaps and mistakes, with some individuals being asked to pay debts they don’t owe. 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.

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