Troutman Sanders

FEBRUARY 1, 2022

District Court for the Southern District of California, granting summary judgment in favor of a debt collector in a Fair Debt Collections Practices Act (FDCPA) case. In doing so, it held that a collection letter, which indicated that the debtor could only dispute the underlying debt in writing, violated the FDCPA.

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Credit Corp

AUGUST 31, 2021

Getting calls from debt collectors can be frustrating and even confusing. That’s even truer when someone is contacting you about an old debt you forgot about, thought was long resolved, or didn’t know about in the first place. Can a debt collector collect after 10 years, for example? In This Piece.

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Collection Industry News

MARCH 23, 2021

Court of Appeals for the Third Circuit recently held that a debt collector did not violate the federal Fair Debt Collection Practices Act (FDCPA) when it sent a consumer a collection letter inviting her to “eliminate further collection action” by calling the company, when in fact only written communication could legally stop collection activity.

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Credit Corp

OCTOBER 16, 2023

Debt collectors send debt validation letters show what debts you owe, the amount, and to whome you owe it to. While a debt collector contacting you can be stressful, it’s important to pause and remember your rights as a debtor. Before paying the debt collector, verify that the debt is actually yours.

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Nexa Collect

AUGUST 8, 2020

It falls to 74% collectible at three months, and by six months, only 58% of debts remain viable. At a year, there’s only a 27% chance of recovering the debt. These percentages assume skilled debt collectors with modern collection tools at their disposal, like those found at agencies. Most creditors are unaware of these.

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Nexa Collect

JULY 28, 2020

It falls to 74% collectible at three months, and by six months, only 58% of debts remain viable. At a year, there’s only a 27% chance of recovering the debt. These percentages assume skilled debt collectors with modern collection tools at their disposal, like those found at agencies. Most creditors are unaware of these.

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Taurus Collect

MARCH 8, 2022

Debt collection is a legitimate business that can involve challenging & confusing issues. Debt collectors typically work with debt-collection agencies, though some may operate independently. Below mentioned are some of the typical debt collection queries that we aim to answer for you.

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Taurus Collect

MARCH 7, 2022

It occurs when a collection agency or a company attempts to collect past-due debts from borrowers. Hiring debt collectors are often a cost-effective alternative for businesses as it prevents you from investing your time and resources to manage your debts. How do debt collectors work?

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Taurus Collect

JUNE 13, 2022

The debt collection process involves recovering debts from the borrower who has initially failed to repay or recover payments on accounts that are past their due date. most people tend to think of a debt collector trying to contact debtors about some unresolved debts. The name of the original creditor.

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Credit Management Company

AUGUST 9, 2022

A statement that unless the consumer disputes the debt within 30 days of receipt it will be assumed to be valid by the debt collector. A statement that the debt collector will provide to the consumer, within 30 days, the name of the original creditor if different than the debt collector.

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Credit Management Company

FEBRUARY 22, 2022

Read on to discover all you need to know about debt collection agencies. Myths About Using a Collection Agency: Paying the Original Creditor to Bypass Agencies. Many people believe they can get around dealing with debt collection agencies by paying their original creditors directly.

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Collection Industry News

APRIL 2, 2024

The claim: It is illegal for collection agencies to buy debt and ‘come after you’ if you send a cease-and-desist letter A March 27 Facebook post (direct link, archive link) offers advice for consumers facing debt collection. “It The post also misrepresents the protections in place to prevent harassment by debt collectors.

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Taurus Collect

JUNE 16, 2022

Debt collection is a process that gives debtors certain rights that debt collection agencies must respect. While the debt shown in the collection can negatively impact your credit score, the severity of the impact reduces over time. What does it mean to have debt in collections? They will call at unofficial hours.

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FDCPA Defense

AUGUST 22, 2016

Courts apply the very pro-consumer “least sophisticated debtor” standard when evaluating a collector’s communications, and most violations of the Act are “strict liability” – meaning the debtor can win the case without proving the collector intended to violate the statute. Hollins Law Firm , _F.3d

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Credit Corp

NOVEMBER 9, 2020

The Fair Debt Collection Practices Act is a federal law that protects consumers against certain unfair collection practices. It applies to only external or third-party debt collectors and only for personal debts. It does not come into play for creditors collecting their own debts. or after 9 p.m.

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Taurus Collect

MAY 11, 2023

If you have ever had to deal with credit card debt, you know it can be stressful. Debt collectors call at all hours of the day and pressure is put on borrowers to quickly make payments in full. The process begins when the debtor stops making payments on their credit card and goes into default.

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Taurus Collect

OCTOBER 30, 2023

Establishing Contact with the Debtor The first step in the debt collection process is establishing contact with the debtor. This often involves several key actions: Initial Communication: A business or a debt collection agency, like a debt collection agency in Derby, will send a letter of demand to the debtor.

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Credit Corp

SEPTEMBER 12, 2023

If the debt collector made an error: If you suspect the debt collection agency made a mistake, like if you see a debt you don’t recognize, you’ll need to confirm the debt belongs to you. Do so as soon as you can—within 30 days of a debt collector’s first contact with you, if possible.

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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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The Kaplan Group

JANUARY 19, 2021

This is the federal law that protects consumers from being harassed by debt collectors. As we’ve mentioned before, the law applies only to consumer debt, not businesses. The law also only applies to outside debt collectors, not companies who are owed the money for product or services they provided.

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Credits Inc

OCTOBER 26, 2019

Creditors give loans to millions of citizens, and thus credit companies are too busy to follow up on the debtors. For this reason, creditors are hiring debt collection agencies to collect debts that are 60 days past the agreed period. Debt collection agencies communicate to debtors via calls, letters, or emails.

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BN Lawyers

JANUARY 14, 2019

A debt collector is free to collect during the thirty-day period as long as it does not overshadow or contradict the consumer’s thirty-day rights. But what if the debt collector initiates a process that is not readily stopped if the consumer makes a timely request for validation? In Scott v. Trott Law, P.C. ,

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National Service Bureau

SEPTEMBER 2, 2015

If you’re a collection agency or creditor in New York, you need to be keeping an eye out for Senate Bill 3803. This bill was introduced to the state senate in February of this year, and the crux is that if approved, debt collectors would be prohibited from using social media to contact debtors. Who Does This Affect?

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Debt RR

DECEMBER 13, 2019

trillion worth of debt. When faced with mounting debt, it’s inevitable that someone will come to collect. Many people are facing a debt collector threatening to serve papers. When courts get involved, debt collection gets serious. Of course, ignoring a process server doesn’t make the debt or lawsuit go away.

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PDC Flow

OCTOBER 20, 2020

Train your collectors to identify disputes early according to the guidelines your agency has in place. If you previously had consent (for example to the phone number that was provided to the original creditor), and that consent is withdrawn, it was likely done in an attempt to set up an action under the Telephone Consumer Protection Act.

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National Service Bureau

JULY 21, 2015

In 2009, the North Carolina legislature passed Senate Bill (SB) 974, which governed the requirements surrounding debt collection and asset buying in the state. For example, the following are still requirements to bring a lawsuit: The original account number, original creditor, the total amount claimed, an itemization of post charge?off

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Credit Corp

MAY 3, 2023

Furnishers are banks, debt collectors, and others that report the information that shows up on your credit report. Re-aging can occur when a debt is sold to a third-party collector and the start date on the debt’s clock is muddied and appears to be a new debt. Furnisher errors.

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FDCPA Defense

NOVEMBER 11, 2014

It is impossible to catalogue the manifold ways, some subtle and some not, in which a debt collector may attempt to circumnavigate section 1692g.” 1989) (“The statute is not satisfied merely by inclusion of the required debt validation notice; the notice Congress required must be conveyed effectively to the debtor.

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FDCPA Defense

JANUARY 28, 2012

Lawyers and agency owners are being sued based on the conduct of their clients and their collectors. Even original creditors, who are not subject to the FDCPA, are being drawn into FDCPA litigation under various theories of recovery. How can debt collectors avoid liability for the conduct of others?

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FDCPA Defense

MARCH 2, 2014

One method for identifying areas of potential concern, however, is to analyze the recent enforcement actions by the CFPB and other regulators filed against debt buyers and original creditors. The most comprehensive enforcement action against a debt buyer in recent years was brought by the FTC, not the CFPB.

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Troutman Sanders

MAY 17, 2021

248, which limits a collection agency’s ability to collect on medical debt. The proposed amendments include changing the definition of medical debt, allowing medical debtors to initiate contact and make voluntary payments, and preventing certain written communications from being sent via certified mail.

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Collection Industry News

SEPTEMBER 8, 2020

THE Fair Debt Collection Practices Act (FDCPA) is a federal law that was enacted in 1978 by the United States Congress to protect consumers from abusive debt collectors. Note, however, that the FDCPA applies only to third party collectors who collect debt for original creditors. Trump $45,000.

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