Collections Law

FEBRUARY 26, 2025

Time is of the essence when collecting debts. Debtors may dissipate assets or file for bankruptcy, leaving you with little recourse. Mistake #2: Lack of proper documentation Proper documentation is essential in debt collection. Mistake #3: Ineffective communication When it comes to collecting debts, communication is key.

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True Accord

JANUARY 27, 2025

SMS allows creditors, debt collectors, and financial institutions to communicate with individuals in a brief and direct manner, more so than traditional methods such as letters or phone callsor even email. SMS is a powerful tool for debt collectors looking to engage with consumers who might otherwise avoid other forms of communication.

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Burt and Associates

OCTOBER 10, 2024

Services Offered by Collection Agencies Collection agencies do more than just make phone calls; they investigate debtors, monitor bankruptcies, and use diplomatic arbitration to preserve business relationships. 1:32 Well, you’ve got your debtor investigation. 1:34 ¿Debtor investigation? I can tell you that.

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Account Recovery

JANUARY 13, 2025

THE COMPLIANCE DIGEST IS SPONSORED BY: CFPB Targets Workplace Communications by Debt Collectors in Blog Post The Consumer Financial Protection Bureau is back with another blog post warning consumers about unfair debt collection practices, this time surrounding being contacted while at work. More details here.

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PDC Flow

FEBRUARY 27, 2025

Compliance can be even harder when scammers actively try to disrupt your debt collection practices through call baiting. Why is call baiting done and what can debt collectors do to prevent the practice? The term call baiting may seem self-explanatorybaiting a debt recovery professional during a phone call.

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Collections Law

DECEMBER 18, 2024

They relentlessly and aggressively pursue commercial debtors to help you get paid, and a credit application contract makes that a little bit easier. Cohen & Associates LLC, our commercial collections attorneys employ ethical methods available under Massachusetts laws to help you get paid. What is a credit application contract?

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The Kaplan Group

APRIL 24, 2025

Delinquencies Rising Across Loan Types C&I loan delinquencies rose from 0.77% in Q3 2023 to 1.28% by Q4 2024 CRE loan delinquencies hit a 10-year high at 1.57% Office loan delinquency alone reached ~11% The Collections Industry and Legal Enforcement B2B Recovery Rates Are Low Debt collectors recover just 20 cents per dollar on average.

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Collections Law

OCTOBER 21, 2024

Legal action: Filing a lawsuit against the debtor is a legitimate and often necessary step to recover monies owed. Interest and attorney fees: You may be entitled to collect interest and attorney fees on the unpaid debt, depending on the contract terms. It is important that these communications are clear and professional.

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Nexa Collect

AUGUST 28, 2024

It’s pointless to waste your client’s time or your debt collector’s time working on accounts that fall outside your area of expertise or where your collection methodology doesn’t align with the client’s expectations.

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FFGN COLLECT NY

JUNE 11, 2025

How BNPL legislation will affect debt collection This new legislation will affect debt collection in New York, enhancing consumer protections in the Buy Now, Pay Later sector and imposing stricter regulations on creditors and debt collectors. Have questions about debt collection?

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Account Recovery

DECEMBER 30, 2024

A pro se consumer had managed to get a 3-judge panel of the Court of Appeals to reverse (in a 2-1 decision) lower court rulings finding that PRA had established its standing to sue and its ownership of the debtors account in the underlying collection action, and judgment in its favor on the debt.

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Qualco

JUNE 11, 2025

The client, who has fulfilled their part of the contract, no longer knows what to do next — they’re not getting paid — and they hire a debt collection service provider who should help and, of course, in the most considerate way possible. There is a need for a high-quality service and that’s what debt collection provides.

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FFGN COLLECT NY

JUNE 11, 2025

How BNPL legislation will affect debt collection This new legislation will affect debt collection in New York, enhancing consumer protections in the Buy Now, Pay Later sector and imposing stricter regulations on creditors and debt collectors. Have questions about debt collection?

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FFGN COLLECT NY

FEBRUARY 2, 2025

In addition to state and local laws, debt collectors must comply with federal laws. Each administration comes with changes, and it’s anticipated that the Trump administration will change federal debt collection laws. The Fair Debt Collection Practices Act (FDCPA) protects consumers from abusive debt collectors.

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Account Recovery

APRIL 14, 2025

On the latter inconvenience claim, the court relied on several rulings from various federal courts holding that in the merely telling the collector that receiving mail is inconvenient is insufficient to prohibit the collector from sending mail to the debtors home. The transcript should also be used as a training opportunity.

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Nexa Collect

JUNE 25, 2023

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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Account Recovery

JANUARY 13, 2022

The Bankruptcy Appellate Panel, Ninth Circuit, has overturned a bankruptcy’s court ruling that awarded a debtor attorney’s fees after a debt collector filed proofs of claim that were time-barred. A copy of the ruling in the case of LVNV Funding v. Andrade-Garcia can be accessed by clicking here.

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Account Recovery

FEBRUARY 3, 2022

” … The post Judge Grants MTD in Hunstein Copycat Case appeared first on AccountsRecovery.net.

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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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Sawin & Shea

JUNE 29, 2022

If, like many, you are struggling with debt and are behind on payments, you may be stressed out by all of the calls you are receiving from your creditors. Creditor harassment is unlawful, and there are many other things that debt collectors don’t want debtors to know to make it easier for them to get away with things they aren’t supposed to.

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Debt Free Colorado

FEBRUARY 21, 2022

In this article we will answer the question: What can debt collectors do to you? Does Colorado Law Protect Me From Debt Collectors? When collecting a debt from you, collection agencies must adhere to federal and state rules. Fortunately, the federal Fair Debt Collection Practices Act (FDCPA) protects all states.

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Nexa Collect

JUNE 24, 2023

As per my knowledge, there are no clear guidelines from the government for a debt collector who wants to work from home. The debt collector should not have the ability to install new programs or use external devices like a USB drive that can be used to copy the data.

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Sawin & Shea

MARCH 16, 2021

On top of phone calls, emails, and text messages, the Consumer Financial Protection Bureau (CFPB) will allow debt collectors to message you through Facebook, Instagram, Twitter, and almost any other social media channel. Why Did They Change the Rules for Debt Collection Messages? Stop Debt Collection Efforts with Bankruptcy.

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Credit Corp

DECEMBER 14, 2020

But it’s especially frustrating if your debt is several years old. If you have debt on your credit reports or are getting calls from a collection agency, you might wonder how long a debtor can try to collect these debts—and how long it can affect your credit score. Can a debt collector collect after 10 years?

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Nexa Collect

JANUARY 12, 2022

Times have changed when collectors could easily put aggressive pressure on debtors or use forceful tactics to recover your money, without any repercussions. Hiring collectors who use aggressive tactics can quickly ignite the other party, and the possibility of having a very rough conversation becomes a reality.

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Sawin & Shea

JULY 20, 2022

Many individuals experience unwanted contact from debt collectors and are unsure how to approach the situation. Businesses or individuals who collect debts on behalf of others are known as debt collectors. The majority of debt collectors work for reputable collection companies. False Statements.

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Direct Recovery

MAY 4, 2024

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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Nexa Collect

JANUARY 24, 2022

The best time to assign an account to a collection agency is when the debt is right around 90 days past due. You have given your debtor at least three billing cycles to pay the bill and resolve any billing disputes that may have occurred. Paying your bill is clearly not a priority in your debtor’s mind by now. (

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Account Recovery

SEPTEMBER 13, 2024

These changes, released earlier this week, primarily affect the definition of “net proceeds” and annual reporting requirements for licensed debt collectors.

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Nexa Collect

FEBRUARY 14, 2022

Say you are a collection agency, and your client (the original creditor) contacts you to tell that they have received a complaint from the debtor telling that your debt collector was very rude over the phone or felt threatened. Such complaints from debtors can get your client to worry about their reputation.

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Nexa Collect

SEPTEMBER 23, 2021

Several collection agencies have been using electronic mediums like emails, social media platforms, and SMS to contact debtors. To a standard person, it may appear that contacting a debtor either way (traditional or electronic) is the same, a contact made is a contact made regardless of the medium.

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Nexa Collect

JUNE 10, 2023

Here are some ways AI can be used in debt collections: Automated Communication: AI-powered chatbots can handle initial interactions with debtors, engage in conversations, and answer frequently asked questions. Lowering Collection Costs: Human debt collectors take a significant percentage of all money recovered by them.

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Nexa Collect

JANUARY 19, 2022

A debt collector has several ways to find your latest address, phone number, and employer information. If you do not dispute the debt within 30 days of the first contact made to you (through phone or letter or other permissible means), the debt is considered valid, and the debt collector can continue to contact you.

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Nexa Collect

FEBRUARY 3, 2022

They must know how to recover the debt diplomatically instead of forcefully. Debtors are less likely to pay when they feel threatened. Since all collection calls are recorded, it is important for the management/supervisor to randomly examine at least a few collection calls daily and discuss shortcomings with their debt collectors.

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Nexa Collect

JUNE 19, 2020

Debtors pay directly to you, no other fees. Collection Calls made by a Professional Debt Collector. A debt collector calls debtor many times. A debt collector calls debtor many times. Upfront cost for 5 Collection Demands is about $18 per account. Low-cost option. Contingency fee only.

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Nexa Collect

MARCH 13, 2023

These accounts are assigned to multiple debt collectors who will start sending collection demands or making phone calls to all these 1000 accounts in a matter of days. At least a few hundred concerned debtors will begin calling the client directly ( to pay, dispute the debt, complain, or other reasons).

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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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