Account Recovery
NOVEMBER 30, 2020
The Court of Appeals for the First Circuit has upheld a lower court’s ruling that the purchaser of a defaulted credit card debt is entitled to the same arbitration opportunity as the original creditor, even though the individual who owed the debt prevailed in a civil suit filed by the purchaser because it could not … The post Appeals Court (..)
Taurus Collect
MAY 11, 2023
If you have ever had to deal with credit card debt, you know it can be stressful. Debt collectors call at all hours of the day and pressure is put on borrowers to quickly make payments in full. The process begins when the debtor stops making payments on their credit card and goes into default.
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Credit Corp
MARCH 12, 2025
Dealing with credit card debt is challenging, let alone facing a debt lawsuit.If the creditor wins the lawsuit, you may face serious financial repercussions. Lawsuits also harm credit scores, and the stress from the legal process can exacerbate financial challenges.
Better Credit Blog
APRIL 6, 2022
If you don’t have the money to pay the balance in full, or if you can’t get the original creditor to remove the charge-off from your credit report, it’s time to dispute the negative entry using a more advanced method. To dispute the entry you’ll first need a copy of your current credit report. today’s date].
Debt Free Colorado
FEBRUARY 21, 2022
The Fair Debt Collection Practices Act (FDCPA) applies to collection firms and debt collectors attempting to recover consumer debts. Consumer debts include credit card debts, vehicle loans, medical costs, and school loans. Under the UCCC, consumers can take legal action against debtors.
Credit Corp
MARCH 1, 2023
So, in the hypothetical example above, if the debt buyer collects $250,000 of the original $1,000,000 in debt it purchased, it makes a profit of $100,000. Why Are Debt Buyers Used? The reason original creditors use debt buyers is that at some point, they consider debt uncollectible.
Better Credit Blog
SEPTEMBER 9, 2020
They are headquartered in Farmingdale, NY, and are known as a “late-stage” debt collector, which means they may have purchased the right to collect the debt from the original creditor. Although Sunrise Credit Services is indeed a legitimate debt collector , they are not thought kindly of by their customers.
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