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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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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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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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

AUGUST 8, 2024

Debt collectors can feel relentless. ” The answer is yes—debt collectors can sue you to recover the debts that you owe. There’s no single answer to how soon a debt collector can sue—it can be between weeks or months, but they’ll usually take steps before it gets to that point.

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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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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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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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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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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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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

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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Collection Industry News

SEPTEMBER 17, 2024

The Federal Trade Commission has provided the Consumer Financial Protection Bureau (CFPB) with its annual summary of activities to protect consumers in the debt collection arena. The Federal Trade Commission works to promote competition and protect and educate consumers.

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Collection Industry News

SEPTEMBER 2, 2024

The Fair Debt Collection Practices Act (FDCPA) serves as a foundational piece of legislation protecting consumers from abusive debt collection practices. For businesses looking to streamline their debt collection process, adhering to FDCPA guidelines is essential for long-term success. 2024 FDCPA Highlights.

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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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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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Debt Recoveries

JUNE 11, 2023

Credit control is the process of overseeing and collecting payments that consumers or clients owe your company. To guarantee that everyone is on the same page with regard to payment expectations, clearly explain these terms to your consumers through written agreements or terms of trade documentation. or 1300 799 511.

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Public Citizen

SEPTEMBER 28, 2021

An Atlanta-based debt collection company and its owners will be permanently banned from the debt collection industry under the terms of a settlement with the Federal Trade Commission. The FTC's press release is here.

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Hudson Weir

AUGUST 21, 2023

In this guide we explore HMRC debt management and collection, including the options if your business is struggling to make a repayment. The National Audit Office reports the total tax debt reached £42bn in September 2021, up from £16bn in January 2020 before COVID-19. If that’s the case, your company isn’t alone.

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Collection Industry News

APRIL 18, 2022

Annual report reveals scope of abuse in debt collection industry. The report came in response to the FTC’s mission as defined by Congress to protect consumers from abusive practices in the debt collection industry. million in refunds from debt collectors in 2021. The post FTC Action Results In $4.86

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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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PDC Flow

AUGUST 18, 2020

This year has seen vast, unexpected change for the credit and collection industry. As many professionals work to navigate this new world of remote work and prepare for the months to come, attorney John Bedard has been a dominant voice, guiding collectors through the struggle. I’ve been representing debt collectors ever since.

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Troutman Sanders

OCTOBER 24, 2023

New York City’s Department of Consumer and Worker Protection (NYC DCWP) recently released a notice of proposed amendments to its debt collection rules. Debt collection agencies must maintain most of these records for a period of three years after the “date of the debt collection agency’s last activity on the debt.”

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Collection Industry News

JUNE 14, 2021

Ciffa’s offices in Niagara Falls and Kenmore, debt collectors intimidated their victims with illegal threats of arrests and lawsuits. According to federal prosecutors, an elderly cancer patient in Texas was so rattled by the threats that she borrowed $500 from her sister to help pay off a debt of $1,285. Source: site.

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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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Better Credit Blog

AUGUST 31, 2020

Having debt in collections can be downright overwhelming, especially when debt collectors bombard you with dozens of phone calls. Debt collectors are notorious for harassing consumers when they seek repayment, calling excessively and threatening to take actions that may not be legal. Table of Contents.

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Collection Industry News

MAY 10, 2023

As a result of actionby the Federal Trade Commission and the Commonwealth of Pennsylvania, debt collection company International Credit Recovery, Inc. The Federal Trade Commission works to promote competition and protect and educate consumers. ICR), officer Richard Diorio, Jr., and Edward Satell.

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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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Collection Industry News

JUNE 14, 2021

Jason Nocera anticipated law enforcement authorities might raid his debt collecting business. The government alleged that Nocera gave his debt collectors drugs to make them more aggressive. Consumer Financial Protection Bureau and the New York State Attorney General’s Office over his unlawful debt collection practices.

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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

OCTOBER 12, 2020

The CFPB is actively working to protect consumers from illegal actions of debt collectors,” CFPB Director Kathleen L. “The The CFPB is actively working to protect consumers from illegal actions of debt collectors,” CFPB Director Kathleen L. Kraninger said in a press release. “We In CFPB et al. In CFPB et al.

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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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Collection Industry News

MAY 18, 2021

The House Thursday passed legislation making a series of reforms to debt collection requirements. While NAFCU supports efforts to stop abusive debt collection practices, the association had raised concerns about language contained in the bill that would expand the definition of a “debt collector” and increase risks to lenders.

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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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