Direct Recovery

JUNE 24, 2020

With an unprecedented number of Americans filing for unemployment, debt collection has been harder than ever for collectors who are attempting to work from home, and business isn’t going to get any better on account of those $1,200 stimulus checks, especially here in California. Money Collected Must Be Returned. The Judgment Factor.

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Nexa Collect

JUNE 27, 2023

Employ a Collection Agency : If the borrower is unresponsive or unwilling to pay, employ the services of a collection agency. The agency will then take over the task of contacting the borrower and attempting to collect on the debt. Offset Tax Refunds and Government Benefits : For federal student loans in the U.S.,

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Collection Industry News

NOVEMBER 25, 2024

This action should send a clear message that illegal collection practices will come with heavy consequences.” The company’s collectors call consumers out of the blue and threaten them with arrest, wage garnishment, and lawsuits if they don’t pay a supposed debt.

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Sawin & Shea

AUGUST 18, 2021

There are two circumstances in which your employer could find out about your Chapter 7 bankruptcy: In a Chapter 7 bankruptcy, your employer would know only if you were already having your wages garnished by creditors (called wage attachment). Again, this does not mean that you will lose your job.

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Consumer Financial Services Law

OCTOBER 12, 2016

The Eleventh Circuit recently joined the First and Eighth Circuits in concluding that the FDCPA’s venue provision does not apply to post-judgment garnishment proceedings. Post judgment, the law firm filed a garnishment proceeding against the consumer’s bank seeking to collect on the judgment. 1692i(a)(2). Ray, CITE. “[A]s

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Debt RR

AUGUST 3, 2020

This unpaid debt can lead to a serious problem for businesses: garnishment. Bank account garnishment can create serious cash flow blocks for companies of all sizes, and those cash flow problems can compound into other issues, like payroll concerns and late payments on other accounts. Can Debt Collectors Garnish Bank Accounts in Texas?

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FFGN COLLECT NY

JANUARY 10, 2024

On Tuesday, January 9, New York Governor Kathy Hochul delivered the 2024 State of the State address, discussing certain changes that will affect debt collection within the state. The government will look to stop these exploitative tactics and more. The government will look to stop these exploitative tactics and more.

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Debt Free Colorado

FEBRUARY 21, 2022

When collecting a debt from you, collection agencies must adhere to federal and state rules. Fortunately, the federal Fair Debt Collection Practices Act (FDCPA) protects all states. You have rights to help you gain control over your debt collection interactions. Call or text you to collect a debt between 8 a.m.

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Troutman Sanders

DECEMBER 8, 2022

On December 5, an Arizona Superior Court for Maricopa County issued an Order to Show Cause to the state of Arizona and scheduled an expedited evidentiary hearing in a suit challenging the newly passed Arizona Protection from Predatory Debt Collection Act (the Act), also known as Proposition 209.

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Troutman Sanders

MARCH 12, 2025

The court order aims to halt the defendants’ alleged deceptive and abusive debt collection practices. Threats of Legal Action : The defendants threatened consumers with arrest, imprisonment, wage garnishment, and liens on property, despite having no authority or intention to take such actions.

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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 (Federal Trade Commission) is an arm of the United States government that enforces consumer protection and antitrust laws. The FTC makes sure that the FDCPA (Fair Debt Consumer Protection Act) is followed by collection agencies.

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Taurus Collect

FEBRUARY 27, 2023

Your bill goes into collections when you fail to pay it within a certain period of time. Once your bill is in collections, you’ll be contacted by a collection agency , which will try to collect the outstanding amount. If you still don’t pay, the debt may be sold to a third-party collection agency.

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Collection Industry News

MARCH 17, 2024

On Tuesday, January 9, New York Governor Kathy Hochul delivered the 2024 State of the State address, discussing certain changes that will affect debt collection within the state. The government will look to stop these exploitative tactics and more. The government will look to stop these exploitative tactics and more.

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Troutman Sanders

APRIL 27, 2023

Noting a rise in credit card delinquencies, the Consumer Financial Protection Bureau (CFPB or Bureau) released a new blog post analyzing civil judgments, the final recourse for creditors to collect on unsecured debt. Civil judgments are governed by state law. Twenty times more common in some states than others.

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Credit Corp

OCTOBER 25, 2020

If an old account has a negative balance you haven’t addressed, the bank may close the account and send the debt to collections. The Collection Process and Consequences for Overdrawn Accounts. Once an overdrawn checking account is closed, it’s usually sent to a bank’s collections department. Wrapping Up.

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The Kaplan Group

OCTOBER 19, 2020

FDCPA ( Fair Debt Collection Practices Act). The Fair Debt Collection Practices Act (FDCPA) is a federal law that restricts the behavior of collection agencies when they are attempting to collect money from individuals. The law does not apply to collecting from businesses. Interest and Collection Costs.

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Taurus Collect

MAY 11, 2023

It’s important to understand how credit card debt collection works so that you can find the best way for your individual situation. Overview of The Credit Card Debt Collection Process Credit card debt collection can be a stressful experience for both the debtor and the creditor.

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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. What you may not know is that you are protected by the Fair Debt Collection Practices Act (FDCPA), a law designed to keep third-party debt collectors in check when they contact you. Table of Contents.

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National Service Bureau

APRIL 6, 2015

Debt collection companies walk a fine line between business efficiency in their primary function (accounts receivable management), while at the same time needing to respect the fact that the debtor is a valuable client to the business for whom they are running collections. 5: Improper contact or sharing of information.

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Credit Corp

MAY 30, 2023

This is known as wage garnishment. The Consumer Credit Protection Act caps these types of garnishments. Nonwage garnishment. If you’re retired, unemployed, or self-employed, your bank account may be garnished instead. Veterans payments, social security, and disability benefits are not eligible for nonwage garnishment.

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Credit Corp

JULY 9, 2024

Ignoring student loans can damage your credit score, lead to wage garnishment, and accrue interest and fees. Wage Garnishment If you have federal student loans, it’s important to realize that the government has power to collect this money if you fail to pay. Private lenders can sue you to collect payments.

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Taurus Collect

AUGUST 15, 2023

Navigating the intricate world of debt collection can be a challenging task for businesses of all sizes. That’s why outsourcing debt collection services , particularly in key areas such as Manchester, can be the game-changer your business needs. Failure to adhere to these can lead to lawsuits and damage business reputation.

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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. False Statements.

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Taurus Collect

JANUARY 23, 2023

Tax season can be incredibly stressful for business owners, with many wondering how the financial decisions they make today could affect their future debt collection. In this article, we’ll explore what you need to know about taxes and debt collection to ensure that your organisation remains solvent as tax season approaches.

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Sawin & Shea

NOVEMBER 24, 2021

Many people worry that bankruptcy will simply delay the inevitable, such as a lawsuit, wage garnishment, or a foreclosure, and that their creditors will still come after them. During an automatic stay, all parties or entities mentioned above are prohibited from collecting on debts you incurred before filing for bankruptcy.

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Sawin & Shea

NOVEMBER 24, 2021

Many people worry that bankruptcy will simply delay the inevitable, such as a lawsuit, wage garnishment, or a foreclosure, and that their creditors will still come after them. During an automatic stay, all parties or entities mentioned above are prohibited from collecting on debts you incurred before filing for bankruptcy.

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National Service Bureau

AUGUST 19, 2015

Like any industry, the debt collection and accounts receivable management industries have some bad apples. The latter are obviously people and organizations that you would want to avoid should your business need assistance with collecting on delinquent accounts. But what if there was no real debt in the first place?

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Collection Industry News

JULY 20, 2020

DEBT COLLECTORS, facing growing demands to freeze the collection of debt across the country amid the economic hardship caused by the coronavirus pandemic, are mobilizing their lobbyists to push back. In New York, residents are receiving a 30-day reprieve from the collection of state-owned medical and student debt.

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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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Collection Industry News

MARCH 7, 2022

Also, research shows more than other groups, communities of color are burdened by debt collections and related wage garnishments and asset seizures. The interest rate limits would also apply to legal judgments on unpaid debt owed to government agencies.

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Jimerson Firm

NOVEMBER 8, 2023

Judgment creditors are often faced with the question of how to collect an out-of-state judgment (also commonly referred to as a foreign judgment) in Florida. Once the foreign judgment is domesticated, the judgment creditor may pursue post-judgment collections efforts in Florida. 55.501, Fla. 55.501, Fla.

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The McHughes Law Firm

AUGUST 29, 2016

New business debt collection may be the last thing on your mind as you juggle all the different moving parts the come with starting a business. If you are in the process of starting a new business, debt collection on past due accounts is likely not even on your radar yet. 1: I Will Lose Customers If I Push Too Hard to Collect.

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Titan Consulting

JUNE 7, 2020

Benefits include a suspension of payments, no negative credit reporting, no collection activity, and no accrual if interest until September 30, 2020. Stopped Involuntary Collection Activity : The Department of Education suspended wage garnishments, Social Security garnishments, and tax refund offsets on federally held student loans.

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Sawin & Shea

JANUARY 18, 2023

Filing Chapter 7 bankruptcy provides you with an automatic stay that prohibits creditors from being able to take any action to collect a debt against you, such as repossessions, wage garnishment, and legal action. What Happens After You File Chapter 7 Bankruptcy? Additionally, your creditors will not be allowed to contact you.

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Collection Industry News

JUNE 1, 2023

Introduction: The debt collection industry plays a vital role in the global economy, helping businesses recover outstanding debts and maintain financial stability. This presents a substantial opportunity for debt collection agencies to assist lenders in recovering unpaid debts and managing default risks.

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Credit Management Company

MAY 17, 2022

According to a 2022 Consumer Financial Protection Bureau report, 58% of all third-party debt collection is made up of medical debt. Adhere to Collection Policies. Provider collection policies provide a roadmap for the provider billing team and the patients. Work with Reliable Third-Party Collection Agencies.

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Collection Industry News

JUNE 16, 2023

When it comes to commercial debt collection, the regulatory framework differs from consumer debt collection. Uniform Commercial Code (UCC): The UCC is a set of laws that governs commercial transactions, including the sale of goods and the rights and obligations of parties involved in commercial debt.

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