article thumbnail

Daily Digest – May 5. Getting to Know Debbie Frank of Credit Bureau Services; CFPB Fines BofA $10M for Improper Garnishments

Account Recovery

GETTING TO KNOW DEBBIE FRANK OF CREDIT BUREAU SERVICES One of the great benefits of working in the accounts receivable management industry is the willingness to collaborate, the understanding that a rising tide lifts all boats. Perhaps nobody appreciates that — and embodies it — more than Debbie Frank.

article thumbnail

Can a Collection Agency Report to the Credit Bureau Without Notifying You?

Credit Corp

Can a collection agency report to a credit bureau without notifying you? The law: Collectors can’t threaten a lawsuit, criminal prosecution, wage garnishment, jail time, or a poor credit rating unless they have the legal authority to do so and intend to do so. The answer might not be that simple.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Things Debt Collectors Are Forbidden to Do

Sawin & Shea

Approximately one third of consumers with a credit bureau file were contacted by at least one creditor or debt collector each year, according to a CFPB (Consumer Financial Protection Bureau) survey. Give information about a debt to a credit bureau without having informed you by phone or email first.

article thumbnail

What Debt Collectors Can and Cannot Do in Indiana

Sawin & Shea

Convey a misleading sense of affiliation with or ownership of a credit bureau. Since debtors usually do not show up to court, these cases usually result in wage garnishment. Specifically, debt collectors may not: Provide the erroneous impression that they are a lawyer or a representative of the government. Unfairness.

article thumbnail

How Late Can You Be on a Car Payment, Mortgage or Other Bill?

Credit Corp

At that point, the lenders may be able to garnish your wages and other income sources. Private lenders have to go through legal channels, suing you once you default and getting a court order for garnishment. Federal student loans don’t go into default until 270 days past due. How Late Can You Be on Utility or Cell Phone Bills?

article thumbnail

How To Read Your Credit Report

Better Credit Blog

While it doesn’t usually affect your credit score , you may want to correct information with the credit bureau if an employer you’ve never worked for is listed. Phone Numbers: You’ll see phone numbers associated with your credit accounts. Garnishments. Not All Credit Reports are Created Equally.

article thumbnail

Hot to Remove Credit Collection Services From Your Credit Report

Better Credit Blog

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.