Credit Corp

AUGUST 31, 2021

Getting calls from debt collectors can be frustrating and even confusing. That’s even truer when someone is contacting you about an old debt you forgot about, thought was long resolved, or didn’t know about in the first place. Can a debt collector collect after 10 years, for example?

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Sawin & Shea

JUNE 9, 2021

Whether you have missed a single payment somewhere along the line or are delinquent on several payments, the last thing you want is to be harassed by debt collectors. You may feel as if no one is on your side, but you do have some protection from collection agencies. There are approximately 7,000 collection agencies in the U.S.

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Taurus Collect

FEBRUARY 1, 2024

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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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. .

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Taurus Collect

NOVEMBER 15, 2023

Experiencing a constant barrage of calls from debt collectors can be overwhelming, to say the least. Many wonder, “How many times can a debt collector call me in one day?” In this post, we will explore the rights and regulations governing debt collection in the UK. or after 9 p.m.,

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Account Recovery

MARCH 14, 2023

The National Consumer Law Center has submitted a petition to the Consumer Financial Protection Bureau requesting that original creditors be responsible for furnishing information related to debt collection activity undertaken by third-party debt collectors or debt buyers, and that collectors should be required to review documents like the original (..)

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Credit Corp

JUNE 3, 2021

Can debt collectors take money from your bank account to offset debts you owe them? But it takes a lot to get to that scenario, so if you’re not there yet you still have time to learn how to protect yourself from this type of collections activity. Don’t Let Debts Get to the Garnishment Stage.

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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. In This Piece: What Is Collections Debt?

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Nexa Collect

AUGUST 8, 2020

Collecting outstanding debt isn’t an easy process. None of these situations are amenable to fast debt recovery. Companies will generally try to collect on their outstanding accounts internally before passing their most egregious cases on to an external debt collection agency. But how wise is this?

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Nexa Collect

JULY 28, 2020

Collecting outstanding debt isn’t an easy process. None of these situations are amenable to fast debt recovery. Companies will generally try to collect on their outstanding accounts internally before passing their most egregious cases on to an external debt collection agency. But how wise is this?

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Collection Industry News

DECEMBER 1, 2022

Whether you owe a debt or not, getting a phone call from a debt collector is never a pleasant experience. The hiatus that some states and companies put on debt collection activities at the height of the pandemic has largely ended, and debt collectors have resumed business as usual.

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Nexa Collect

JUNE 21, 2023

If you ignore a debt collection agency, several potential consequences could affect your financial well-being and peace of mind: Persistent Contact : Debt collection agencies might persist in attempting to contact you through phone calls, letters, and possibly emails. This can be stressful and disruptive.

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Collection Industry News

MARCH 23, 2021

Court of Appeals for the Third Circuit recently held that a debt collector did not violate the federal Fair Debt Collection Practices Act (FDCPA) when it sent a consumer a collection letter inviting her to “eliminate further collection action” by calling the company, when in fact only written communication could legally stop collection activity.

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Credit Corp

OCTOBER 16, 2023

Debt collectors send debt validation letters show what debts you owe, the amount, and to whome you owe it to. While a debt collector contacting you can be stressful, it’s important to pause and remember your rights as a debtor. Before paying the debt collector, verify that the debt is actually yours.

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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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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. Below mentioned are some of the typical debt collection queries that we aim to answer for you.

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Direct Recovery

FEBRUARY 7, 2021

In what is supposed to be an increase in protections offered to consumers, an updated version of the Fair Debt Collection Practices Act (FDCPA) was passed in the fall of 2020 that brings that iconic piece of legislation up to date with modern forms of communication. The Type of Creditor Still Matters.

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Credit Corp

NOVEMBER 9, 2020

If you or someone you know has dealt with a collection agency, you know how trying it can be. Debt collection agencies have a long history of harassment and illegal practices. Can a collection agency report to a credit bureau without notifying you? It does not come into play for creditors collecting their own debts.

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Troutman Sanders

AUGUST 26, 2020

The plaintiff incurred a debt to a medical provider who placed the debt with a debt collector. The collection letter from the debt collector included a request for repayment of principal and interest. The district court agreed and granted summary judgment to the defendant.

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Collection Industry News

MARCH 8, 2021

In a coordinated effort in 2015 called Operation Collection Protection, the FTC and more than 70 law enforcement partners took 115 actions against deceptive and abusive debt collection practices. In many cases, consumers didn’t even owe the debts. Get “validation” information about the debt. Is the debt yours?

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Troutman Sanders

FEBRUARY 1, 2022

District Court for the Southern District of California, granting summary judgment in favor of a debt collector in a Fair Debt Collections Practices Act (FDCPA) case. In doing so, it held that a collection letter, which indicated that the debtor could only dispute the underlying debt in writing, violated the FDCPA.

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Nexa Collect

MARCH 22, 2022

By law, all debt collectors are required to provide at least 30 days to the debtor/consumer to dispute the debt, after the consumer receives (or is assumed to receive) the validation information. Most collection agencies will add about additional 2 weeks to account for mailing delays and holidays.

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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 It) happens to probably most debts that go unpaid.”

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Collection Industry News

MARCH 18, 2023

The post CFPB receives FCRA rulemaking petition on debt collection appeared first on Collection Industry News. The post CFPB receives FCRA rulemaking petition on debt collection appeared first on Collection Industry News.

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True Accord

SEPTEMBER 16, 2022

Trying to keep up with regulations in debt collection can feel overwhelming especially with new cases and federal guidance coming out regularly interpreting the law and states actively amending or creating new laws that impact debt collectors, original creditors, and current creditors.

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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. How do debt collectors work? What is the process? What is the process?

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FFGN COLLECT NY

DECEMBER 12, 2023

Is there a law in NYC that protects consumers and debtors from debt collecting agencies, businesses, and their attorneys? Suppose you are under constant pressure from these agencies and their legal representatives to settle your debt. Consumers must be aware that the debt they are being collected for is valid.

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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.

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Better Credit Blog

FEBRUARY 18, 2021

You may start getting calls from a debt collector. Failing to pay your bills will cause the debt to move to collections. This means that your original creditor has officially handed the account over to a collection agency that will hound you for payments. About FirstPoint Collections.

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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.

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Collection Industry News

DECEMBER 14, 2021

New York recently enacted Senate Bill (SB) 153 , the Consumer Credit Fairness Act, significantly impacting debt collection lawsuits filed by creditors or debt collectors. The post New York Significantly Changes Debt Collection Lawsuits appeared first on Collection Industry News.

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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?

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Taurus Collect

JUNE 13, 2022

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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Taurus Collect

MAY 11, 2023

If you have ever had to deal with credit card debt, you know it can be stressful. Debt collectors call at all hours of the day and pressure is put on borrowers to quickly make payments in full. The creditor then hires a debt collection agency to start the collection process.

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True Accord

NOVEMBER 13, 2023

The New York City Department of Consumer and Worker Protection (NYC DCWP) just released an updated proposed amendment to its rules relating to debt collection. This means that a debt collector must first call a consumer to obtain consent before the collector could send an email message about the account.

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Troutman Sanders

JULY 30, 2021

July 22, 2021), the Eastern District of Michigan granted summary judgment in favor of a debt collector, holding that it did not violate the Fair Debt Collections Practices Act (FDCPA) by failing to report that the plaintiff disputed the debt at issue. to collect from plaintiff, Florence Burns (Burns).

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Collection Industry News

OCTOBER 12, 2020

Here’s some bedrock—debt collectors can call numbers supplied by the consumer to an original creditor as part of a credit transaction. Either way, it never hurts to have a court decide that consent passed from a creditor to a debt collector. Really quick one for you.

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