PDC Flow

FEBRUARY 27, 2025

Collection agencies must follow regulations strictlyor youll find your business in jeopardy. 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?

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Collection Industry News

NOVEMBER 6, 2020

On October 30, 2020, the Consumer Financial Protection Bureau (“CFPB”) published a long-awaited final rule revising Regulation F, which implements the Fair Debt Collection Practices Act (“FDCPA”) of 1977. Prior to the formation of the CFPB, there was no regulatory body with rulemaking authority over debt collection practices.

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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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Sawin & Shea

AUGUST 24, 2020

How Does Debt Negotiation Work? Debt negotiation means your creditor has agreed to accept less than the full amount of your debt as payment– it also means debt collectors can’t harass you for your payments. Debt settlement with the wrong organization or a scam can destroy your credit.

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Better Credit Blog

SEPTEMBER 9, 2020

If you have been contacted by Sunrise Credit Services, you are probably being pursued for an old debt. Sunrise Credit Services is a debt collector that has been hired by your old creditor to collect payment on your debt. They may also have purchased the debt to profit off your payments.

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Better Credit Blog

OCTOBER 14, 2020

Though the agency is headquartered in Pennsylvania, they collect on consumer debt nationwide. ARS collects on debts for several types of businesses, including: Telecommunications services. Higher education loans. Healthcare debt. Debt from financial institutions. Utility bills.

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National Service Bureau

SEPTEMBER 9, 2015

It’s no secret that student debt is at an all-time high. According to the US Department of Education, there are more than 40 million student loan borrowers who owe more than $1.2 A college education is practically the new high school equivalent - it’s pretty much expected to get a job. Let’s take a look at why….

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Collection Industry News

MARCH 8, 2021

Illegal activities included harassing phone calls, bogus threats of arrest or lawsuit, and violations of other provisions of the Fair Debt Collection Practices Act. In many cases, consumers didn’t even owe the debts. Get the name of the collector and the company, its address, and the phone number.

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True Accord

NOVEMBER 13, 2023

While attempting to provide additional protections for consumers when debt collectors reach out using digital channels, these NYDFS and NYC DCWP restrictions create unintended consequences that raise barriers for NY consumers to correspond with collection agencies in their channel of preference and hinder communication efforts.

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National Service Bureau

DECEMBER 9, 2015

These are important for debt collectors to avoid, especially because they’ve been emphasized recently. Read on to learn about trending items, and the hosts recommendations for collection agencies to avoid these pitfalls! Poncin and Rossman both advocate for better education from the CFPB, geared particularly towards debtors.

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Better Credit Blog

AUGUST 21, 2020

Nothing is quite as panic-inducing as receiving a call from a debt collector. Not only are they notoriously rude, but having a debt collector on your tail can mean that your credit score is about to take a dive. Unfortunately, they are a completely legitimate debt collector but are also a terrible pain to deal with.

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Collection Industry News

JULY 4, 2022

CFPB Moves to Reduce Junk Fees Charged by Debt Collectors. Advisory opinion explains that most “pay-to-pay” fees charged by debt collectors violate federal law. Federal law generally forbids debt collectors from imposing extra fees not authorized by the original loan,” said CFPB Director Rohit Chopra.

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True Accord

FEBRUARY 11, 2025

That said, a particular proposal from 2021 has been reintroduced on the federal level, but is not expected to pass out of the House Financial Services Committeewhich is a good thing for consumers and collectors alike when it comes to digital communications.

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Troutman Sanders

APRIL 2, 2021

The Sixth Circuit recently confirmed student loan servicers, who begin servicing debts after default and resale, are not liable to borrowers under the Fair Debt Collection Practices Act (FDCPA) because the servicers are not acting as “debt collectors.”. On March 25, in Willison v. Nelnet, Inc. ,

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Payment Savvy

NOVEMBER 30, 2021

In 2020, the Consumer Financial Protection Bureau (CFPB) published two rules which implement the Fair Debt Collection Practices Act (FDCPA). Suppose your company works in the field of debt collecting, such as third-party debt collection firms , collection attorneys, debt buyers, or defaulted mortgage servicers.

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Better Credit Blog

NOVEMBER 2, 2020

Action Financial Services is a medium-sized debt collection agency that is headquartered in Central Point, OR. They were originally founded in 2009 and collect on behalf of high education institutions and the U.S. Department of Education for the non-payment of student loans. Debt collectors are a sneaky bunch.

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Better Credit Blog

NOVEMBER 3, 2020

Have you been receiving threatening calls and letters from a company called Advanced Collection Services? You likely have an old debt hanging over your head that they are trying to collect payment on. The problem is that sometimes they get information wrong and try to collect the wrong amount or from the wrong person.

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Taurus Collect

SEPTEMBER 2, 2024

Legal Compliance: Following ethical guidelines helps avoid legal pitfalls, minimising the risk of disputes and charges against debt collectors. Improved Recovery Rates: A compassionate approach can lead to higher success rates in recovering debts, as individuals are more likely to cooperate with respectful debt collectors.

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Better Credit Blog

AUGUST 7, 2020

When a debt collection agency contacts you, it also does damage to your credit score. While owing money to a debt collector can harm your credit score and confronting the agency might seem like a daunting task, there’s no need to worry. Mail RCS a Debt Validation Letter. Get professional help. Commercial.

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Troutman Sanders

NOVEMBER 20, 2023

On November 16, the Consumer Financial Protection Bureau (CFPB or Bureau) released its Fair Debt Collection Practices Act (FDCPA) Annual Report detailing the CFPB’s 2022 activities related to debt collection practices.

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Burr Forman

MAY 20, 2021

Prohibiting servicers of private education loans from reporting an adverse item of information relating to the nonpayment of the loan for an established period of time.

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Better Credit Blog

OCTOBER 5, 2020

Today, we’ll walk you through all the details you need to know about Penn Credit and debt collectors in general so you can have them taken off your report in no time. Penn Credit Corporation is a legitimate debt collector , one that is headquartered in Harrisburg, Pennsylvania. Get your debt validated.

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Collection Industry News

DECEMBER 11, 2020

Both state regulators and the CFPB are responsible for regulating debt collection activities and both have a vital interest in the work of the other. California and New York will be requiring debt collectors to license in the coming year.

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The Kaplan Group

OCTOBER 19, 2020

If you have always prided yourself on being debt free, or good with money, you might be tempted to simply pull the covers of your head and ignore your current situation. Instead, I suggest you do what you can to educate yourself about your options. FDCPA ( Fair Debt Collection Practices Act).

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Better Credit Blog

AUGUST 17, 2020

When a debt collector like Cavalry SPV ends up on your report, it can do severe damage to your credit score for years, even if you pay off your debts. The agency also uses aggressive tactics to collect on debts, which can add stress to an already nerve-wracking situation. Send a debt validation letter.

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FFGN COLLECT NY

DECEMBER 12, 2023

Suppose you are under constant pressure from these agencies and their legal representatives to settle your debt. In this case, you should uphold your consumer rights to ensure ethical practices during the debt collection process. Consumers must be aware that the debt they are being collected for is valid.

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Better Credit Blog

FEBRUARY 15, 2021

Though you may be unfamiliar with Fairway, the agency collects on a wide range of consumer debts, including the following: Health insurance billing and follow-up. Self-pay collections. Education loans, tuition, fines and fees. How to Deal with Fairway Collections. Parking tickets. Government fines and fees.

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PDC Flow

NOVEMBER 3, 2020

The long-awaited Final Rule (Regulation F) for the Fair Debt Collection Practices Act (FDCPA) was issued Friday afternoon, concluding a seven-year rulemaking process. With this modernized debt collection rule, consumers will have greater control when communicating with debt collectors.”.

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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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Better Credit Blog

SEPTEMBER 2, 2020

They could be the key to transforming your credit score and getting debt collectors off your back. When Avante and other debt collectors contact you, you need to have a solid game plan for getting the collection removed from your credit report. Send Avante USA a Debt Validation Letter. The best part?

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Better Credit Blog

SEPTEMBER 18, 2020

Failing to pay a debt may culminate into being pursued by a debt collector. National Credit Services is one such debt collector that may contact you if you fail to make payments on an overdue bill. National Credit Services is a medium-sized debt collection agency that is headquartered in Bothell, WA.

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Better Credit Blog

OCTOBER 30, 2020

Being contacted by a debt collector is scary. They can be aggressive and rude, and they will continue to hound you for a debt until you pay up. One debt collector you may hear from is called Global Credit & Collection Corp. They are on-par for collectors in terms of reputation and collection tactics.

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Better Credit Blog

FEBRUARY 2, 2021

If they are unsuccessful, your debt will go into collections, which can have a significant impact on your credit report. Some companies sell their debts to third-party debt collectors , while others, like BGE, have their own collections department. The best part? Owe BGE $250? Judgments.

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Troutman Sanders

NOVEMBER 8, 2023

Last week, a district court in Nevada held that an undated, model form debt validation notice does not violate the Fair Debt Collection Practices Act (FDCPA). the defendant sent a debt validation letter to the plaintiff that followed the model form provided by the Consumer Financial Protection Bureau (CFPB).

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Better Credit Blog

NOVEMBER 25, 2020

Medical debt is one of the most common types of debt in the United States. Assetcare LLC is a debt collector that specifically collects debts in the health care industry. Founded in 2016, Assetcare LLC is a small debt collection agency that is headquartered in Sherman, TX. Educate Yourself.

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Better Credit Blog

NOVEMBER 25, 2020

Medical debt is one of the most common types of debt in the United States. Assetcare LLC is a debt collector that specifically collects debts in the health care industry. Founded in 2016, Assetcare LLC is a small debt collection agency that is headquartered in Sherman, TX. Educate Yourself.

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Troutman Sanders

JANUARY 9, 2024

On January 2, the CFPB published a blog titled, “Holding Debt Collectors Responsible for False Statements.” CICA Collection Agency, a First Circuit case in which the CFPB has filed an amicus brief. The consumer sued to hold the debt collector accountable for the misrepresentation, but the debt collector pled ignorance.

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