Account Recovery
MARCH 11, 2025
Why it matters: For professionals in debt collection agencies, debt buying companies, fintechs, banks, credit unions, and consumer finance firms, these findings underscore a growing vulnerability among older borrowers.
Account Recovery
FEBRUARY 24, 2025
California Appeals Court Reverses Judgment in Debt Buyer Case A California Appeals Court has reversed a lower courts ruling in favor of a debt buyer, determining that consumers do not need to show actual damages to pursue statutory damages under the Fair Debt Buying Practices Act (FDBPA). More details here.
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Nexa Collect
JUNE 18, 2023
Since debt collectors are on the phone all day long, they know every tactic to get paid. Compliance with Laws and Regulations : Medical collection agencies must comply with various laws and regulations such as the Fair Debt Collection Practices Act (FDCPA) which sets standards for how debt collectors must conduct themselves.
Collection Industry News
OCTOBER 18, 2021
The session will feature a discussion of the Consumer Financial Protection Bureau’s debt collection rule, the Maryland Consumer Debt Collection Act, medical debt collection, debt buying, consumer privacy and data security, the State Examination System and the use of technology to improve operations and compliance.
Credit Corp
MARCH 1, 2023
However, you can’t actually do this due to how debt buying works. Debts of this nature are sold in large bundles to debt collectors and other agencies. Learn more about how debt buying works, why it’s not an answer to your debt concerns, and what you can do to handle debt instead below.
FFGN COLLECT NY
DECEMBER 12, 2023
Here is an overview of the NYC law on debt collection: The consumer or debtor can ask the debt collector or attorney to verify the debt or show proof of verification upon collection. Consumers must be aware that the debt they are being collected for is valid. You must inform consumers about the debt specifics.
Collection Industry News
OCTOBER 6, 2020
It was a great time to be a debt collector. In August, Encore Capital, the largest debt buyer in the country, announced that it had doubled its previous record for earnings in a quarter. Finding themselves with enough money to settle old debts, people responded to collectors’ calls and letters.
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