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How Consumer Credit Trends Impact Debt Collection in 2024

True Accord

“Growing debt balances, stubborn interest rates and elevated prices are still a thorn for consumers, and contribute to their overall financial stability,” explains TrueAccord CEO Mark Ravanesi in his Q4 Industry Insights: Cautious Optimism with a Side of Holiday Hangover.

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Why Do Debt Collectors Check Your Credit Report?

Taurus Collect

Are you being contacted by debt collectors? If so, it’s likely that they have already checked your credit report. It can be tricky trying to deal with a debt collection agency , but understanding why and how they check your credit score is the key to regaining control of the situation.

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The Art of Ethical Debt Collection: Balancing Business Needs and Compassion

Taurus Collect

The Need for Ethical Debt Collection In an ever-evolving financial landscape, understanding the importance of ethical debt collection is crucial for maintaining trust and fostering long-term relationships. In the UK, the role of debt collectors is often scrutinized; thus, ethical practices should be a priority.

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How Consumer Credit Trends Impact Debt Collection in 2024

Collection Industry News

“Growing debt balances, stubborn interest rates and elevated prices are still a thorn for consumers, and contribute to their overall financial stability,” explains TrueAccord CEO Mark Ravanesi in his Q4 Industry Insights: Cautious Optimism with a Side of Holiday Hangover.

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California Expands Rosenthal Act to Cover ‘Small Business’ Debt Collection

Collection Industry News

Gavin Newsom recently signed SB 1286 amending the Rosenthal Fair Debt Collection Practices Act’s coverage to certain commercial debt. Prior to this amendment, the RFDCPA’s restrictions applied only to certain debt collectors and creditors collecting consumer debt. The amendments are effective Jan.

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Meeting Debt Collection Challenges Amid a Squeeze on Income

Fico Collections

Meeting Debt Collection Challenges Amid a Squeeze on Income. In order to deal with the rising cost of living and other challenges, anyone managing collections portfolios and effective debt recovery strategies needs these capabilities. Tue, 07/23/2019 - 04:13. by Bruce Curry. expand_less Back To Top. Thu, 06/16/2022 - 15:20.

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4 Ways To Remove Collections From Your Credit Report

Better Credit Blog

Don’t go into too many details, but let the debt collector know if you’re trying to buy a house but can’t because of the negative information on your credit report. Then kindly ask the debt collector to remove collections from your credit report out of goodwill. Covington Credit.