Credit Corp

NOVEMBER 9, 2020

Knowing illegal debt collection practices can help identify when you’re being treated unfairly. The Fair Debt Collection Practices Act is a federal law that protects consumers against certain unfair collection practices. It does not come into play for creditors collecting their own debts.

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Better Credit Blog

APRIL 4, 2022

Regardless of what a debt collector might tell you, you have a lot of rights when it comes to how debt can be collected. In fact, merely mentioning that you understand your rights will, many times, stop debt collectors in their tracks. Your rights come from the Fair Debt Collection Practices Act (FDCPA).

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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. If you find yourself being sued by a debt collector, you may wonder how to get a credit card lawsuit dismissed.

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Credit Corp

NOVEMBER 21, 2021

Can Debt Collectors Call on Holidays? While technically there are no specific prohibitions on debt collectors calling on holidays, it may fall into a category that’s not allowed by the Fair Debt Collection Practices Act (FDCPA). According to the FDCPA, debt collectors can only call between 8 a.m.

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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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Collection Industry News

FEBRUARY 25, 2022

In Minnesota, a creditor may issue a garnishment summons to any third party “at any time after entry of a money judgment in [a] civil action.” In Minnesota, a creditor may issue a garnishment summons to any third party “at any time after entry of a money judgment in [a] civil action.” Creditor appealed.

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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. These provisions mean that you may owe interest on unpaid debts.

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Sawin & Shea

AUGUST 24, 2020

Bankruptcy will wipe out credit card debt, medical bills, and personal loans, but will not eliminate primary obligation debt; things like student loans, child and spousal support, and newer tax debt. Bankruptcy can also stop or delay a home or mortgage foreclosure, stop collection actions, stop garnishments and lawsuits.

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Better Credit Blog

APRIL 3, 2022

Portfolio Recovery buys multiple accounts with old debt from companies that have given up and “charged off” the accounts. In other words, when the original creditor has been unsuccessful in collecting on a debt, it will write off the debt as a loss. You get to dictate how and when a debt collector contacts you.

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Troutman Sanders

JANUARY 28, 2021

This bill modifies the limitations of certain debt collection actions enacted in Senate Bill 20-211 , most notably extending the moratorium on extraordinary collection actions from February 1, 2021 to June 1, 2021. Additionally, the notice must include very specific language — detailed in section 24-33.5-704.3(5)(a)(I)

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Better Credit Blog

APRIL 1, 2022

Numerous complaints state the company left over 25 voicemails on one customer’s phone alone in an attempt to collect a debt. Other complaints claim TSI threatened wage garnishment or property seizure, both of which they could not do. Debt Validation. If you can, try to settle with the original creditor.

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Troutman Sanders

AUGUST 29, 2023

District Court for the Western District of New York granted the plaintiff’s motion for class certification for alleged violations of the Fair Debt Collections Practices Act (FDCPA) relating to an allegedly improper debt assignment notification. The plaintiff never repaid the garnished money. In McCrobie v.

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Credit Corp

AUGUST 31, 2021

How Long Can a Debt Collector Pursue an Old Debt? Each state has a law referred to as a statute of limitations that spells out the time period during which a creditor or collector may sue borrowers to collect debts. In most states, they run between four and six years after the last payment was made on the debt.

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BN Lawyers

APRIL 30, 2019

Debtors who have filed for bankruptcy and received their Discharge often continue to receive collection letters and phone calls from their creditors. Some creditors even go so far as to sue on these discharged debts or garnish wages and bank accounts. What Actions from Creditors Are Prohibited?

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Credit Corp

DECEMBER 14, 2020

If a debt is 10 years old but you were making payments under an agreement with the lender until 3 years ago, the debt is likely still within the statute of limitations and can be pursued by a debt collector. How Long Can a Debt Collector Pursue an Old Debt? Ask the creditor to send you written notice of the debt.

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Debt RR

AUGUST 3, 2020

What Do Commercial Debt Collection Agencies Do? Debt collection agencies are organizations that attempt to collect debt on behalf of other businesses. A commercial debt collector works exclusively with B2B creditors that need to collect past due payments from other businesses.

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True Accord

NOVEMBER 20, 2023

Consumers Prefer Digital Debt Collection By and large, consumers prefer to communicate with their collection agencies digitally—they already predominantly communicate with their banks, creditors, and lenders digitally, so digital collection is a smooth transition when an account moves to collection.

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Debt Free Colorado

APRIL 1, 2021

Also, it’s a violation of the Fair Debt Collection Practices Act (FDCPA) for a third party debt collector to disclose information about your debts to others. CREDITOR : SPEEDY CASH SERVICES. You can’t garnish wages because you don’t have a judgment. OUTSTANDING AMOUNT: $850.45

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Taurus Collect

MAY 11, 2023

Overview of The Credit Card Debt Collection Process Credit card debt collection can be a stressful experience for both the debtor and the creditor. The creditor then hires a debt collection agency to start the collection process. They may ask for payment or offer a repayment plan.

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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. It’s perfectly legal and proper to make this request, generally called a Debt Validation Letter. The company may lack data related to the debt.

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Direct Recovery

APRIL 18, 2023

The commercial debt collection process typically involves everything from communicating with debtors about the amounts owed and negotiating payment terms to pursuing legal action and obtaining a judgment against a debtor and garnishing their wages. In most cases, they do not apply to business debts.

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Sawin & Shea

SEPTEMBER 27, 2023

Chapter 7 is also known as liquidation bankruptcy because in exchange for receiving a discharge of most kinds of debts, the debtor has to give up non-exempt assets. The money earned from these sales then goes to the creditors and any remaining balances on the debts are discharged. What Are My Exempt Assets?

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Collection Industry News

SEPTEMBER 23, 2020

Many consumers who are sued for outstanding debts do nothing, and that is generally a big mistake. The survey data showed that more than 70% of debt collection suits ended in default judgments. Whatever the reason, ignoring a debt collection lawsuit can mean big trouble. Negotiating a payment plan. .

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Credit Corp

AUGUST 24, 2020

In addition to requesting a written validation notice from the collector, verify with your state attorney general’s office or the Better Business Bureau that the collection agency is legitimate. The Fair Debt Collection Practices Act (FDCPA) provides protection for consumers. Negotiating Medical Debt.

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Better Credit Blog

APRIL 1, 2022

In other words, has Capital One sold your unpaid credit card debt to another collection agency, or is the debt still with Capital One? You can find out who owns your Capital One debt by getting a current copy of your credit report and taking a look to see who is listed as the creditor on the entry.

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Better Credit Blog

SEPTEMBER 8, 2020

After a debt has gone unpaid for a month or longer, your service provider or creditor may sell it to a debt buyer. These companies swoop in to purchase your debt at discounted rates, profiting when you make a payment. Hired by LVNV, Northland may contact you by phone or mail until you settle your debt.

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Troutman Sanders

DECEMBER 20, 2022

On December 15, the Office of the Comptroller of the Currency, along with the Federal Financial Institutions Examination Council, released revised procedures for how its examiners will investigate financial institutions for Fair Debt Collection Practices Act compliance, incorporating Regulation F changes into their review.

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Credit Corp

JUNE 14, 2020

Suddenly, the debt reappears on your credit report, except now it’s a zombie debt. Zombie Debts and Judgments. If the original creditor went to court and obtained a judgment against you for a debt, the zombie debt cycle can be more complicated. Why Is Zombie Debt Such a Problem?

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Sawin & Shea

FEBRUARY 9, 2021

It comes from debt collectors and purchasers who try to twist the rules in their favor convince you to pay. The FDCPA Doesn’t Always Stop Zombie Debt. Fair Debt Collection Practices Act (FDCPA) protects people from creditor harassment and is quite specific about what creditors can and cannot do to recover debts.

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Collection Industry News

SEPTEMBER 8, 2020

THE Fair Debt Collection Practices Act (FDCPA) is a federal law that was enacted in 1978 by the United States Congress to protect consumers from abusive debt collectors. Note, however, that the FDCPA applies only to third party collectors who collect debt for original creditors. Fremont Ave.,

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