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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Debt RR

SEPTEMBER 27, 2020

What are Business Debt Collection Laws? Although commercial debtors do not enjoy the same level of protection as consumer debtors do, this does not mean they are left at the mercy of creditors and debt collection agencies (DCAs). The business debt collection laws protect them.

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Collection Industry News

SEPTEMBER 2, 2024

The Fair Debt Collection Practices Act (FDCPA) serves as a foundational piece of legislation protecting consumers from abusive debt collection practices. For businesses looking to streamline their debt collection process, adhering to FDCPA guidelines is essential for long-term success.

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Nexa Collect

JUNE 18, 2023

This could include accepting a lesser amount than what is owed or setting up a payment plan that the debtor can afford. There are also state laws that can affect the process of medical debt collection.

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Nexa Collect

AUGUST 6, 2020

Most collection agencies work to maintain proper standards, but some are better than others. Ensure the ones you’re considering are properly licensed according to your state’s licensing rules and follow the guidelines of the Fair Debt Collection Practices Act. Also, ask them if they have skiptracing capabilities.

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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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Taurus Collect

SEPTEMBER 2, 2024

By fostering a compassionate approach, businesses can maintain their reputation while ensuring they are also effective in recovering debts. Let’s understand the strategies that promote a positive experience for both the debtor and the creditor, leading to stronger relationships and better outcomes.

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Burt and Associates

SEPTEMBER 23, 2024

Always ensure a solid paper trail, including the original debt agreement, communication logs, payment history, and other documents. Stay Compliant with Regulations Debt collection laws like the Fair Debt Collection Practices Act (FDCPA) are there to protect both you and the debtor.

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Burt and Associates

SEPTEMBER 23, 2024

Always ensure a solid paper trail, including the original debt agreement , communication logs, payment history, and other documents. Stay Compliant with Regulations Debt collection laws like the Fair Debt Collection Practices Act (FDCPA) are there to protect both you and the debtor.

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Collections Debtor Debt Recovery Fair Debt Collection 52

Nexa Collect

JUNE 24, 2023

The thought process is simple, in case the laptop is lost, there should be zero loss of personal data of clients or the debtors. Accepting payments : You should transfer the call to your corporate office when the debtor is ready to pay,or have a PCI-compliant mechanism. Internet access should be restricted to selected websites only.

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Taurus Collect

FEBRUARY 1, 2024

Whether you’re on the receiving end of a collection action or considering employing such services, understanding the mechanisms at play can help in navigating the often complex world of debt recovery. They are responsible for pursuing the repayment of debts on behalf of creditors.

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Debt collector Debtor Creditors Collection Agencies 52

Credits Inc

OCTOBER 16, 2019

This reflects their effectiveness in debt collection as well as keeping you in business should you require their services. Here is a detailed guide to help you understand more about a debt collection agency. A debt recovery agency is a company licensed to recover funds that are past due on behalf of creditors.

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Debt RR

SEPTEMBER 9, 2020

Also known as a demand letter, a collection letter is an official notification drafted by a lender or debt collections agency and sent to a debtor to remind them of their delinquent payments. Debt collection letters can be issued to both commercial and consumer debtors. Debt Warning Letter.

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Debt RR

SEPTEMBER 9, 2020

The settlement of debts acquired by either another company or an individual is one of the most common challenges that businesses experience. Collecting debts is time-consuming, especially if the debtor refuses to cooperate. What they can and cannot do when doing so are regulated by the Fair Debt Collection Practices Act.

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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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Credit Management Company

FEBRUARY 22, 2022

Myth: The FDCPA Will Protect Any Debt Collector. The Fair Debt Collection Practices Act (FDCPA) is a law that limits a third-party debt collector’s actions and behavior when collecting debts. However, the FDCPA only protects consumer debtors. Myth: Small Debts Don’t Enter Collections.

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Debt RR

AUGUST 3, 2020

Routine phone calls: Demand letters are a formal process that gives debt collectors leverage if they have to sue for the balance owed, but phone calls are the most common way commercial debt collection agencies will use to try to communicate with debtors. How Long Can a Debt be Pursued?

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Troutman Sanders

JANUARY 12, 2024

Link Debt Recovery, LLC (Link), Link initiated two separate debt collection lawsuits in 2020. Link filed a motion to dismiss asserting that it was properly registered under the UCAA in 2020 and, even if it was not, its collection activities did not violate the statutes.

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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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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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