Collection Industry News

JUNE 12, 2023

Introduction: Managing debt is an essential aspect of running a business, and effective debt collection is crucial for maintaining healthy cash flow and financial stability. Implementing proper debt collection techniques can help businesses recover outstanding payments while maintaining positive relationships with clients.

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JMA

MARCH 21, 2024

Are you facing the challenge of collecting a business debt in Queensland? In this article, we have put together essential information on navigating the regulated environment of debt collection Queensland, from understanding your legal rights to enforcing debt recovery and choosing a reliable collection agency.

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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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Jimerson Firm

DECEMBER 14, 2021

Two important statutes for all businesses to be aware of are the Florida Consumer Collection Practices Act (FCCPA) and the Fair Debt Collection Practices Act (FDCPA). Fair Debt Collection Practices Act. A person attempting to collect his or her “own” debt, is not a debt collector under the FDCPA. See Stanley v.

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Debt Recoveries

JUNE 1, 2021

Unless you are actually a debt collection expert like Debt Recoveries Australia , there is a good chance that you have quite a few higher priorities than managing your company’s accounts receivable. You might even delegate that task out to an assistant or employee without much thought to collect debts fast. CC the CEO or CFO.

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Taurus Collect

OCTOBER 30, 2023

Understanding the art of debt collection can be a challenging task for any business, especially when the debtor refuses to pay despite many reminders. In such situations, engaging a collections agency becomes inevitable. Access to Documentation: Ensure that your chosen collections agency has full access to these documents.

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Hudson Weir

DECEMBER 10, 2024

A court may issue a charging order following a CCJ against the debtor this judgement would confirm the debt is valid and there is a legal right to enforce it. One can consider a mortgage to be somewhat similar, in terms of its legal mechanism, in that there is a legal charge placed on a persons property.

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Taurus Collect

MAY 18, 2023

Late payments can be a significant problem for any business, and when it comes to collecting unpaid invoices the situation can become difficult. It is important to know when the best time might be to escalate an invoice from your internal collection process and hand it over to professional debt collection services.

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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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Stevens Lloyd

JULY 17, 2018

However, in case, your all efforts to collect the debt get unsuccessful, you can take the advantage of debt collection services. Whether it’s a new client or an old one, you have the right and obligation to collect the amount you are owed. Getting angry and using abusive language against them is not the right solution.

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UK debt collections

JULY 4, 2024

However, it is crucial for architects and firms to understand their legal rights and take appropriate action in order to protect their business. However, if the client consistently fails to make payments or ignores attempts at communication, it may be necessary to a professional debt collection for architects fees service.

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Taurus Collect

OCTOBER 30, 2023

Navigating the convoluted terrain of debt collection can be a daunting task for businesses big and small. However, understanding the crucial steps in the debt collection process can empower businesses to retrieve owed money efficiently and legally, thus enhancing their financial health.

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Taurus Collect

MAY 11, 2023

Not knowing whether to issue warnings, take legal action or try other methods for collecting unpaid rent can make the situation even more challenging. This blog post will provide an in-depth look at when and how you can send a non-paying tenant to collections. What Steps to Take Before Sending a Tenant to Collections?

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Collections Law

APRIL 1, 2020

Collecting debts from debtors having assets in Massachusetts while you are in another state or a different country used to be difficult, even if you had a judgment against them. Our Experienced Collections Attorneys Knows How to Enforce Foreign Judgments in Massachusetts. They afford the debt collection lawyer attachment targets.

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Collection Industry News

JULY 6, 2021

Medical debt collection, a complex process and significant cause of personal bankruptcy, is receiving renewed attention because of the financial challenges of the COVID-19 pandemic. The average person has no understanding of what their legal rights are,” said Bobby Peterson, executive director of ABC for Health. Bobby Peterson.

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Sawin & Shea

AUGUST 24, 2020

Bankruptcy can also stop or delay a home or mortgage foreclosure, stop collection actions, stop garnishments and lawsuits. Debt collection agencies can be thoroughly unpleasant. The company does not tell you your legal rights or tell you about free options you can take on your own. What does each one mean?

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The McHughes Law Firm

JUNE 22, 2016

In today’s volatile marketplace, the existence of a personal guarantee may provide the only viable basis for collecting outstanding receivables from a corporate obligor experiencing financial difficulty. A provision for the recovery of collection expenses and attorney’s fees should be inserted.

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Nexa Collect

NOVEMBER 1, 2021

That is why a creditor must attempt to file a legal suit in which the debtor must declare all his assets under oath when asked by the judge. Debtors are legally bound to pay their liabilities like outstanding credit cards or unpaid bills etc. How do traditional payment methods work to collect payments?

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Collection Industry News

DECEMBER 16, 2024

When consumers returned the calls, the defendants falsely represented themselves as being from a mediation or law firm, threatened legal action, and used personal information to convince consumers that the threats were real. The FTC is sending checks to 1,625 consumers, who will receive $334.38

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Credit Corp

AUGUST 16, 2021

Even if the credit card company sides with you, the merchant may not—and they may try to collect. What happens when you dispute a charge Can a merchant try to collect Tips for avoiding future issues. Can a Merchant Try to Collect the Money from You After a Chargeback? In This Piece. What Happens When You Dispute a Charge.

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Jimerson Firm

FEBRUARY 22, 2024

The Florida Consumer Collection Practices Act (FCCPA) is a pro-consumer statute. Unlike the FDCPA, which only applies to debt collectors, the FCCPA applies to all persons or businesses collecting consumer debts. As such, all businesses need to be aware of the statute and the risk and potential liability associated with the statute.

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Troutman Sanders

FEBRUARY 28, 2022

This list purports to give consumers “the details [they] need to take action” against companies that collect consumer information and prepare consumer reports. In late January, the Consumer Financial Protection Bureau (CFPB) released its 2022 “ List of Consumer Reporting Companies.”

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Troutman Sanders

JUNE 30, 2021

Columbia Debt Recovery , a Washington district court awarded each plaintiff $30,000 in emotional distress damages under the Fair Debt Collection Practices Act (FDCPA), $120 in treble actual damages under the Washington Collection Agency Act (WCAA) and the Washington Consumer Protection Act (WCPA), and $2,000 in statutory damages under the FDCPA.

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Jimerson Firm

JANUARY 27, 2023

From a legal perspective, the term “NIL” generally refers to an individual’s legal right to control the usage of their name, image, or likeness. Student athletes are also generally prohibited from receiving NIL compensation in exchange for attending a specific university.

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Troutman Sanders

OCTOBER 17, 2023

In 2010, the defendant purchased the account and placed it with a law firm for collection. Instead, the offending conduct was misrepresenting “that it had the legal right to collect on the account when it lacked the proper license to do so.”

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Troutman Sanders

SEPTEMBER 15, 2023

In the press release announcing the issuance of the report, CFPB Director Rohit Chopra stated, “[t]uition payment plans offered by schools may look like a good option, but this report shows student borrowers can end up paying high fees, be forced to sign away their legal rights, or even have their transcript withheld by their school.”

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The Kaplan Group

APRIL 12, 2021

All too often, commercial debt collection becomes a negotiation. This could be more money, faster payments, avoiding court, or if necessary, the final outcome in court and the subsequent judgment collection process. One of the most common issues we see is no provision for the imposition of collection fees on the customer.

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Collection Industry News

DECEMBER 21, 2020

Last week, the CFPB issued a Consent Order against a New Jersey based debt-collection agency (Agency) over allegations that the Agency regularly violated the FDCPA and the CFPA in the course of their collection activity.

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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.

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Jimerson Firm

JANUARY 12, 2024

In collecting consumer debts, no person shall: (9) Claim, attempt, or threaten to enforce a debt when such person knows that the debt is not legitimate, or assert the existence of some other legal right when such person knows that the right does not exist. Section 559.72(9) 9) , provides as follows: 559.72 Prohibited

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Credit Corp

FEBRUARY 9, 2024

Even if the credit card company sides with you, the merchant may not—and they may try to collect the chargeback funds. The Truth in Lending Act is the federal law that gives consumers the legal right to dispute credit card charges if there is a billing error, as outlined in the Federal Reserve’s Consumer Compliance Outlook.

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FFGN COLLECT NY

AUGUST 16, 2020

Because the borrower missed a payment, you are now indebted and liable to the bank for the loan amount plus interest as well as late charges, additional default interest at a pre-determined amount, and often bank attorneys’ fees or costs of collection. Being Pursued as the Guarantor.

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FFGN COLLECT NY

APRIL 6, 2021

While the underlying agreement or contract may seem straightforward, you need to do a thorough evaluation to make sure you aren’t waiving your legal rights by signing the contract. Have questions about defending a debt collection case? The post Are You Waiving Your Rights by Signing a Contract? Let us help.

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Sawin & Shea

SEPTEMBER 27, 2023

If you are a victim of debt collector harassment, it’s important to know the debt collection laws, and consider your options for debt relief. Debt Collection Laws: What Can Debt Collectors Do? Debt collectors have a legal right to pursue the collection of personal debt within the bounds of the law.

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Credit Corp

JULY 1, 2024

If you don’t pay your credit card, it can lead to late fees, increased interest rates, being sent to collections, and damage to your credit. It could also result in legal action being taken against you. Collections A charge-off doesn’t make your debt magically disappear.

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Credit Corp

MAY 30, 2023

Quasi in rem: Quasi in rem judgments consider the legal rights of individuals and not necessarily all parties involved. Law enforcement may seize things like valuable collections or jewelry to be sold at auction. The judgment creditor can then use that court judgment to try to collect money from you. Property levies.

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Consumer Financial Services Law

NOVEMBER 12, 2019

Importantly, the Informational Statement also included a lengthy disclaimer which provided as follows: This statement is sent for informational purposes only and is not intended as an attempt to collect, assess, or recover a discharged debt from you, or as a demand for payment from any individual protected by the United States Bankruptcy Code.

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