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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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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Credit Corp

OCTOBER 16, 2023

While a debt collector contacting you can be stressful, it’s important to pause and remember your rights as a debtor. The debt collection industry is subject to mishaps and mistakes, with some individuals being asked to pay debts they don’t owe. Before paying the debt collector, verify that the debt is actually yours.

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Sawin & Shea

JULY 20, 2022

Have you ever been incessantly contacted by a debt collection agency trying to get money from you? Businesses or individuals who collect debts on behalf of others are known as debt collectors. The majority of debt collectors work for reputable collection companies. That’s why we’re here to help.

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Consumer Financial Services Law

FEBRUARY 1, 2017

National Credit Systems, Inc., The above referenced account has been placed with this office for collection. National Credit Systems, Inc. has been authorized to recover this debt by way of credit bureau reporting (following this initial 30 day validation period) as well as other remedies available under the law.

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Consumer Financial Services Law

APRIL 15, 2019

Dunn Attempting to collect on time-barred debt without informing the consumer that a payment may renew the applicable statute of limitations creates an “informational injury” sufficient to confer Article III standing, a district court in Illinois has ruled. 5, 2019), the defendants Midland Funding, LLC, Midland Credit Management, Inc.

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Fico Collections

DECEMBER 20, 2021

You would think the new CFPB debt collection rules , which took effect last month on November 30, would be the primary focus of the collections and recovery industry. Preferred Collection and Management Services, Inc. Debt Collectors and Service Providers Can Once Again Work Together Without the Fear of Violating the FDCPA.

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Fico Collections

MAY 19, 2021

Debt collection agencies (DCAs) are leaking more profits and costs, too, trying to collect on something that isn’t recoverable. In my personal experience, first-party fraud typically comprises around 10% of the volume of credit losses (also known as bad debt) but, alarmingly, more than 20% of the value. A Drain on Profitability.

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FDCPA Defense

MAY 6, 2014

In addition, given the “variety of sources of information to assess the creditworthiness of prospective borrowers,” the Bureau asserted that “debt collectors may well deceive consumers if they make representations about the nature or extent of improved creditworthiness that result from paying debts in collection.” 3d 410, 418 (7th Cir.

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Fico Collections

MAY 19, 2021

From banks to telcos to debt collection agencies, what looks like unrecoverable bad debt may in fact be first-party fraud. For many people, the word “fraud” evokes images of shadowy criminals using stolen identities and purloined credit card information to commit financial crimes. What Is First-Party Fraud? Tue, 07/02/2019 - 02:45.

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Credit Corp

MAY 3, 2023

It may even appear twice on the report from the original debtor and the debt collector. This can cause your credit to take a hit for much longer than it should. How Fast Can You Clean Up Your Credit Report? The length of time it takes to clean up your credit report depends on the number and type of issues you have.

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Collection Industry News

SEPTEMBER 8, 2020

THE Fair Debt Collection Practices Act (FDCPA) is a federal law that was enacted in 1978 by the United States Congress to protect consumers from abusive debt collectors. Note, however, that the FDCPA applies only to third party collectors who collect debt for original creditors. Let’s use our beloved Pres. You go to Washington D.C.

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