Account Recovery

APRIL 22, 2021

The Federal Trade Commission yesterday announced it is returning more than $4 million to 10,000 individuals who were scammed by a debt collector more than five years ago.

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Account Recovery

MARCH 11, 2025

Why it matters: For professionals in debt collection agencies, debt buying companies, fintechs, banks, credit unions, and consumer finance firms, these findings underscore a growing vulnerability among older borrowers.

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Account Recovery

FEBRUARY 24, 2022

… The post Banking Groups File Brief in Appeals Court Case over FDCPA Convenience Fees appeared first on AccountsRecovery.net.

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Account Recovery

NOVEMBER 16, 2021

A plaintiff has lost his battle to keep his lawsuit against a debt collector in state court, ruling that the plaintiff’s “explicit” allegations of violations of both the Fair Debt Collection Practices Act and the Federal Trade Commission Act, as well as his demand for damages under both of those statutes require that the case … (..)

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Account Recovery

JANUARY 8, 2025

The case, filed in the Eastern District of California, centers on allegations that the credit reporting agencies conspired to restrain trade in violation of federal and state antitrust laws. Instead, their injuries were found to be speculative and influenced by independent third-party decisions, such as those of patients and debt collectors.

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Collection Industry News

NOVEMBER 25, 2024

The Federal Trade Commission is taking action against a Georgia-based debt collector that tricked consumers into paying more than $7.6 million in bogus debt by threatening them with jail time, harassing their family members, and other unlawful actions. The case will be decided by the court.

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Account Recovery

OCTOBER 1, 2020

On Monday September 29, 2020, the Federal Trade Commission (FTC) along with State and Federal Law Enforcement Partners announced, Operation Corrupt Collector, a nationwide law enforcement and outreach initiative to protect consumers from phantom debt collection and abusive and threatening debt collection practices.

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Better Credit Blog

APRIL 4, 2022

If you are like most people, you have dealt with or are currently dealing with debt collectors. I’ve been preaching about the dangers of debt collectors for years and get countless emails from readers who end up in trouble by answering the phone when a debt collector calls. Talk to Credit Saint.

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Nexa Collect

JUNE 19, 2020

These receivables are usually B2B accounts that require commercial debt collection. A collection agency with its three-step collection process can assist businesses to recover money in an amicable manner. Need a collections agency for your business: Contact us. Written Notices sent by a Collection Agency.

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American Profit Recovery

MARCH 4, 2022

This is a program established by the Federal Trade Commission and one that we fully embrace. Everyone here at American Profit Recovery understands that as a collection agency we need to be as transparent as possible. There’s a reason why consumers compliment our debt collectors after a telephone conversation.

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Account Recovery

APRIL 4, 2024

A bill has been introduced in the Colorado legislature that would make it an unfair or deceptive trade practice for a debt collector or collection agency to take any legal action on a debt unless it has purchased complete ownership or the debt.

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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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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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PDC Flow

FEBRUARY 27, 2025

The debt collection process can be tricky. Collection agencies must follow regulations strictlyor youll find your business in jeopardy. Compliance can be even harder when scammers actively try to disrupt your debt collection practices through call baiting. First, What is Call Baiting? Why Do People Call Bait?

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Nexa Collect

JUNE 21, 2023

Debt collection agencies are subject to various data security rules and regulations to protect consumer information. Fair Debt Collection Practices Act (FDCPA) : While primarily focused on the practices and behaviors of debt collectors, the FDCPA also contains provisions that protect consumers’ personal information.

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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? ® or VantageScore 4.0®.

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Account Recovery

SEPTEMBER 10, 2024

Why it matters: As the student loan repayment landscape evolves, debt collectors and financial institutions need to understand borrower challenges to develop effective collection strategies and support financial wellness initiatives. Learn more.

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Public Citizen

DECEMBER 16, 2021

From a Federal Trade Commission press release : A group of phantom debt collectors will be permanently banned from the debt collection industry and required to surrender the contents of numerous bank and investment accounts under the terms of a settlement  with the Federal Trade Commission.

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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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Collection Industry News

JULY 21, 2024

One of Australia’s largest debt collectors will be taken to court after allegedly operating in Victoria despite being banned for previous illegal conduct. People in these situations can be very vulnerable to poor debt collection practices,” she said. “We Panthera has been approached for comment.

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True Accord

FEBRUARY 11, 2025

Keeping up with compliance in the debt collection industry can be a challengeespecially as artificial intelligence, machine learning, and other advanced technologies sweep through both the business and consumer sectors. TrueAccord is a licensed, bonded, and insured collection agency in all jurisdictions where we collect.

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True Accord

MARCH 4, 2025

Over the past several years, federal and state regulators have started raising red flags about a significant trend in the debt collection industry: companies failing to deliver positive experiences for consumers or properly manage complaints and disputes.

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American Profit Recovery

SEPTEMBER 27, 2020

When we speak with professionals whether in person, by the phone or even at trade shows, we are always asked about some of the tactics they should employ to get their customers to pay on time. Especially if you are running a trade business. Angry customers do NOT say these types of things to debt collectors.

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PDC Flow

SEPTEMBER 29, 2020

I went in-house as corporate counsel at a collection agency, where I oversaw legal, compliance, and training. I loved, loved, loved the synergy between compliance and training – it also gave me the opportunity to partner with the collection floor from a different perspective than just “compliance” and it was a lot of fun.

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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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Taurus Collect

DECEMBER 20, 2021

More and more invoices are heading into overdue territory, and SMEs struggle to find the time and resources to collect. Unfortunately, debt collection is one of those unpleasant but necessary tasks critical to a healthy bottom line. What Do Debt Collectors Do? Finding Trusted Debt Collectors.

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Credit Corp

AUGUST 24, 2020

When you’re trying to conquer unpaid debts sent to collections, you’ll likely face some obstacles. Two of the most common are coming up with enough money to pay off the debt and negotiating a payment plan or settlement you can afford. Find out how to pay collections below. Creating a Debt Management Plan.

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UK debt collections

JUNE 8, 2021

A Scam Debt Collection Agency Boss has been sent to prison for 4 years and 10 months. The Dodgy Debt Collector took cash payments from clients to help recover money but did so with no intention of collecting what they were owed. Dodgy Debt Collection Agencies. This company was wound up in April 2018.

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PDC Flow

OCTOBER 20, 2020

However, trade organizations – like the California Association of Collectors (CAC) – remain dedicated to providing resources and networking opportunities for members, just as in years past. Cease collection of the debt. You should always follow call recording laws during collection calls. 1692d and d(5).

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UK debt collections

JUNE 11, 2021

The High Court has shut down a rogue Debt Collection Agency it has emerged. The Debt Collection Agency spuriously claimed to be able to collect debts from liquidated companies. They would offer to collect from liquidated company directors ‘personally’ which is contrary to UK insolvency law.

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True Accord

MARCH 19, 2025

Debt collection is a complex, evolving industry, and compliance with the myriad of federal, state, and local laws is an ongoing challenge for organizations in the field. Some states provide an entity-level exemption to their privacy law (e.g., Californias exemption is a data-level exemption, not an entity-level exemption).

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Burt and Associates

SEPTEMBER 23, 2024

The Fair Debt Collection Practices Act ( FDCPA ) is a cornerstone of consumer protection laws in the United States. It ensures that debt collectors adhere to specific ethical and legal standards when pursuing debts. Accurate Representation Debt collectors must be truthful about the nature of the debt.

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Burt and Associates

SEPTEMBER 23, 2024

The Fair Debt Collection Practices Act ( FDCPA ) is a cornerstone of consumer protection laws in the United States. It ensures that debt collectors adhere to specific ethical and legal standards when pursuing debts. Accurate Representation Debt collectors must be truthful about the nature of the debt.

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Collection Industry News

SEPTEMBER 8, 2020

Article 6 Investment Law 2020 stipulates that “Debt Collection Service” is one of the businesses that are prohibited from investment. This regulation will come into force on 1 January 2021, whereby service contracts for debt collection concluded before that will be invalidated.

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Debt Collection Answers

AUGUST 27, 2023

As you hesitantly answer, a stern voice claims to be a debt collector, demanding immediate payment for a debt you’ve never heard of. Whether you’ve faced such calls or want to be prepared, read on to discover how to recognize and deal with suspicious debt collector calls with confidence.

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Troutman Sanders

NOVEMBER 11, 2020

Recently, the Consumer Financial Protection Bureau filed an Amicus Curiae brief in the United States Court of Appeals for the Third Circuit addressing whether a debt collector violates the Fair Debt Collection Practices Act by accurately stating that it is seeking to collect $0.00 2:19-cv-18661 (2020)(Case No.

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UK debt collections

DECEMBER 8, 2020

The Financial conduct authority has asked banks, lenders and debt collectors for advice on how to deal with the fall out from emergency Covid-19 loans given out during the pandemic. “The FCA has rules to support the fair treatment of customers through the collections and recoveries process,” the regulator said.

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