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Dealing with Debt Collectors

Debt Free Colorado

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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Compliance Digest – December 30

Account Recovery

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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Soon, Debt Collectors Can Contact You on Social Media

Sawin & Shea

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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What Debt Collectors Can and Cannot Do in Indiana

Sawin & Shea

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.

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Pay in Installments or Full: Which is Better?

Nexa Collect

A debt collection agency will almost always allow you to make payments in installments. Should a borrower/debtor go for it or not? You will likely strike a deal to settle the debt for a lower amount (keep insisting). They would rather accept a lower amount ( like a 10% or a 20% lower settlement) than linger a debt for months.

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Debt Collectors vs Lawyers: Who to Choose for Debt Recovery

Taurus Collect

If you’re in debt, you may be wondering if it’s better to hire a debt collection agency or lawyer to help you recover the money you owe. Both professionals can help you get your debts paid, but there are some key differences between them that you should consider before making a decision.

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Average Recovery Rate of a Collection Agency

Nexa Collect

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.