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Debt Collector to Shut Down Under Enforcement Order with CFPB

Account Recovery

The Consumer Financial Protection Bureau today announced that a medical debt collector — Commonwealth Financial Systems in Pennsylvania — is being shut down for failing to conduct reasonable investigations and failing to inform the credit reporting agencies that debts were being disputed by consumers.

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Can Debt Collectors Access My Credit Report?

Direct Recovery

Believe it or not, debt collectors can actually pull your credit report, and they don’t even need your permission to do so. Even if you work to keep up with your credit report, you might be surprised to find sudden changes that debt collectors might encounter, or even cause themselves. That is not exactly the case.

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Professional Life of a Debt Collector

Nexa Collect

The professional life of a debt collector involves communicating with individuals and businesses to collect payments on overdue bills, loans, or other financial obligations. Communication Skills : Debt collectors need excellent communication skills to effectively convey information and negotiate with debtors.

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Pathward Bank to Pay $700k in Fines, Penalties For Seizing Funds Paid to Debt Collectors

Account Recovery

The Attorney General of New York yesterday announced that a financial institution will pay $700,000 in fines and penalties for illegally freezing customer accounts and sending debt collectors tens of thousands of dollars that should have been protected or exempt from garnishment.

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CFPB Sues Debt Collector

Account Recovery

The Consumer Financial Protection Bureau yesterday announced it had filed a lawsuit against a debt collector, accusing it of violating the Fair Debt Collection Practices Act and Consumer Financial Protection Act by sending collection letters using the letterheads of its clients — district attorneys’ offices — to collect on outstanding (..)

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How communicating with a debt collector can resolve your debt

American Profit Recovery

Never be apprehensive or afraid to communicate with a professional debt collector. Professionally trained collectors are there to help you navigate the complexities of outstanding debt. Here’s a few tips from our debt collection experts on how consumers can improve communication with debt collectors.

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Great communication earns trust as a debt collector

American Profit Recovery

By Georgia: As a debt collector, I look forward to coming to work every day. American Profit Recovery has opened my eyes to what it truly means to be a debt collector, as well as what an important job it is. Being a Debt Collector is not just about collecting money. Yes, you read that correctly.