Taurus Collect

FEBRUARY 1, 2024

That’s where a debt collections service steps in—a critical intermediary that takes on the task of pursuing delinquent accounts to ensure that owed funds are recovered. Introduction Debt collectors, often viewed with a mix of apprehension and uncertainty, play a significant role in the credit economy.

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Nexa Collect

JUNE 21, 2023

Fair Debt Collection Practices Act (FDCPA) : While primarily focused on the practices and behaviors of debt collectors, the FDCPA also contains provisions that protect consumers’ personal information. I will outline some general principles and specific regulations in the United States.

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Nexa Collect

JUNE 23, 2023

The impact of a debt collector’s call on the debtor can be multifaceted and can affect various aspects of the debtor’s life. Here are some of the potential impacts: Stress and Anxiety : One of the most immediate impacts of a debt collector’s call is the increase in stress and anxiety.

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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. The cost of collection agencies depends on whether you select their Fixed-fee or Contingency-fee service. There are also state laws that can affect the process of medical debt collection.

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Collections Law

OCTOBER 21, 2024

Some of the most important include: Massachusetts General Laws Chapter 93, Section 49: Section 49 of Chapter 93 prohibits unfair, deceptive, or unreasonable debt collection practices. It sets the standard for ethical collection methods. Massachusetts Fair Debt Collection Practices Act (MGL c.93,

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Nexa Collect

JULY 2, 2020

A laboratory debt collection agency will be equally familiar with all the HIPAA compliance regulation that is required in these situations as they are with complying to debt collection practices such as the Fair Debt Collection Practices Act. Written Notices sent by a Collection Agency.

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True Accord

JANUARY 31, 2024

Let’s look at the challenges around right-party contact rates, consumer complaints, and the timely factors that make the challenges more detrimental to your business’s late-stage debt recovery. But beyond ignoring communication preferences, many consumer complaints actually equate to compliance violations.

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Taurus Collect

SEPTEMBER 2, 2024

The Need for Ethical Debt Collection In an ever-evolving financial landscape, understanding the importance of ethical debt collection is crucial for maintaining trust and fostering long-term relationships. In the UK, the role of debt collectors is often scrutinized; thus, ethical practices should be a priority.

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Nexa Collect

JUNE 21, 2023

Stress and Mental Health Issues : The constant worry and anxiety of knowing you have a debt in collections and the possible legal consequences can negatively impact your mental health. Possible Social Stigma : In some cases, debt collectors may contact relatives or neighbors in an attempt to reach you.

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Debt RR

SEPTEMBER 9, 2020

Collection agencies for small businesses are third-party establishments that collect overdue payments or funds from default accounts. What they can and cannot do when doing so are regulated by the Fair Debt Collection Practices Act. How Small Businesses Proceed with Collections.

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Credit Management Company

JANUARY 25, 2022

After speaking with colleagues, you were told about the possibility of commercial debt collection agencies taking over. This is known as business-to-business debt, these firms specialize in debt recovery owed by businesses. This type of debt collection can be hard to understand at first.

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Better Credit Blog

APRIL 1, 2022

Transworld Systems, Inc (TSI) is a well-known debt collection agency in the United States that works with individuals, large companies, and organizations to assist them in debt recovery and past due accounts. Debt Validation. They recently acquired Alltran Financial Services in 2020.

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Taurus Collect

JUNE 12, 2023

But how often do debt collection agencies take their clients’ customers to court? From understanding the role of a debt collector and when they legally can file suit against slow-paying customers, these are essential facts for all business owners who wish to get paid while keeping customer relationships intact.

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Troutman Sanders

JANUARY 12, 2024

In a change of course, the Utah court of appeals has reversed the dismissal of a plaintiffs’ suit against a debt collector based on its alleged failure to register as a collection agency prior to filing collection suits. Link Debt Recovery, LLC (Link), Link initiated two separate debt collection lawsuits in 2020.

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Credit Management Company

FEBRUARY 22, 2022

Companies hire debt collection agencies to collect debts on their behalf. Sometimes, businesses may even sell their debt to collection agencies. In that case, those businesses no longer own the debt you’re paying. Myth: The FDCPA Will Protect Any Debt Collector.

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Credits Inc

DECEMBER 11, 2018

debt collection. processes that simply aren't true: Myth #1: Debt Collectors Harass Individuals Who Owe Money. From the start, debt collectors are trained to never harass or mistreat consumers. Myth #2: Hiring A Collection Agency Will Cost Your Business Money and Customers.

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Collection Industry News

NOVEMBER 17, 2024

Gavin Newsom recently signed SB 1286 amending the Rosenthal Fair Debt Collection Practices Act’s coverage to certain commercial debt. Prior to this amendment, the RFDCPA’s restrictions applied only to certain debt collectors and creditors collecting consumer debt. California Gov.

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Debt RR

AUGUST 3, 2020

It’s not uncommon for businesses to take on debt. Sometimes, that debt gets out of hand and businesses find themselves on the receiving end of calls from commercial debt collection agencies. Calls from a commercial debt collector can create an enormous amount of stress for many business owners.

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Better Credit Blog

DECEMBER 29, 2020

has started calling you out of the blue, it is probably because of an old debt. You are probably wondering if they are a legitimate debt collector or not. is completely legitimate, and they aren’t going anywhere until you pay up – or you remove their collections account from your credit report. Works & Lentz, Inc.

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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. The truth is, debt collectors actually have a set of rules they have to follow when attempting to collect on a debt.

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Debt Collection Answers

MAY 18, 2023

Adding to the burden, specialized debt collectors in the medical industry can compound the stress of an already challenging situation. Capio Partners is one such agency that focuses on debt collection in the medical field. 2018: Capio Partners merged with another debt collection agency, Debt Recovery Solutions.

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Troutman Sanders

SEPTEMBER 6, 2023

Columbia Debt Recovery, LLC , the plaintiff, a tenant under a residential lease agreement, vacated the premises early due to concerns over the property’s condition. In response, the property management company engaged a collection agency to recover the remaining amounts claimed as due and owing under the lease.

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Debt RR

SEPTEMBER 9, 2020

Initiate the legal process: No legal action or harsh debt recovery techniques can be utilized before a debtor receives the collection letter. That is why we compiled tips on how to write a debt collection letter below: Understand the Legal Regulations. The Fair Debt Collection Practices Act is quite broad.

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Better Credit Blog

AUGUST 7, 2020

Originally founded in 1985, Professional Finance Company is a medium-sized debt collection agency that offers services for debt recovery, self-pay early-out, and debt purchasing. Request Debt Validation. The debt collection process is not perfect. What is Professional Finance Company?

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Collection Industry News

JUNE 1, 2023

Governments and regulatory bodies continually strive to strike a balance between consumer protection and enabling efficient debt recovery. New regulations, such as the implementation of the Consumer Financial Protection Bureau (CFPB) in the United States, aim to ensure fair debt collection practices and enhance consumer rights.

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Better Credit Blog

APRIL 5, 2022

The first step, if you have paid the full collection account, settlement, or have been making regular on-time payments, is to mail the collection agency a “ goodwill letter ” that explains your situation. Then kindly ask the debt collector to remove collections from your credit report out of goodwill.

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Account Recovery

NOVEMBER 12, 2024

–Capital Recovery Corporation (“Capital Recovery”, “CR Corp”) a leading provider of compassionate medical and commercial debt recovery services, is proud to announce that it has successfully achieved SOC 2 Type I compliance. CANTON, Ga.–Capital

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Burt and Associates

OCTOBER 31, 2024

After winning a court judgment absolving them of rental debt, one tenant found that the debt collector refused to remove the debt from their record, blocking them from securing new housing and impacting their credit. This move aims to prevent consumers from being harassed over debts they may no longer legally owe.

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Burt and Associates

OCTOBER 31, 2024

After winning a court judgment absolving them of rental debt, one tenant found that the debt collector refused to remove the debt from their record, blocking them from securing new housing and impacting their credit. This move aims to prevent consumers from being harassed over debts they may no longer legally owe.

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Burt and Associates

OCTOBER 31, 2024

About Transcript About CFPB 2024 Annual Report on Activities to Administer the Fair Debt Collection Practices Act I. Introduction and Spotlight on Medical and Rental Debt 1.1 Medical Debt 1.1.1 Rental Debt 1.2.1 Conclusion: Summarizes the key findings and trends in medical and rental debt collection.

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