Account Recovery

APRIL 26, 2021

A District Court judge in Ohio has granted a defendant’s motion to dismiss a class-action lawsuit alleging it violated the Fair Debt Collection Practices Act by informing the recipient of a collection letter than payments made using a debit or credit card would be subject to a 3% transaction fee.

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Qualco

APRIL 18, 2024

Responsible debt collection practices have become vital for financial institutions looking to build trust, enhance customer relationships, and contribute to a fair financial landscape.

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Better Credit Blog

JANUARY 27, 2021

If you’re getting calls from a company called Debt Recovery Solutions, you probably have one or more unpaid bills to take care of. And this can range from credit card debt to hospital bills to utility fees. When Debt Recovery Solutions is hired to recover a debt, they must contact the major credit agencies and report the debt.

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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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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

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. Like the Fair Debt Collection Practices Act, the U.S.

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PDC Flow

FEBRUARY 27, 2025

The term call baiting may seem self-explanatorybaiting a debt recovery professional during a phone call. This can be a Fair Debt Collection Practices Act violation, or violation of other laws or regulations which pertain to debt collectors. First, What is Call Baiting?

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True Accord

MARCH 29, 2023

In fact, more than 21% of consumers resolve their accounts outside of typical business hours (before 8am and after 9pm) when it is presumed inconvenient to contact consumers under the federal Fair Debt Collection Practices Act (FDCPA).

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Nexa Collect

JUNE 21, 2023

Fair Debt Collection Practices Act (FDCPA) : While primarily focused on the practices and behaviors of debt collectors, the FDCPA also contains provisions that protect consumers’ personal information. I will outline some general principles and specific regulations in the United States.

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Nexa Collect

JUNE 25, 2023

Knowledge of Laws and Regulations : Debt collectors must be well-versed in the laws and regulations that govern debt collection in their jurisdiction. For example, in the United States, they must comply with the Fair Debt Collection Practices Act (FDCPA).

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Nexa Collect

JUNE 18, 2023

Compliance with Laws and Regulations : Medical collection agencies must comply with various laws and regulations such as the Fair Debt Collection Practices Act (FDCPA) which sets standards for how debt collectors must conduct themselves.

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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.

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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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True Accord

JANUARY 31, 2024

Let’s look at the challenges around right-party contact rates, consumer complaints, and the timely factors that make the challenges more detrimental to your business’s late-stage debt recovery. But beyond ignoring communication preferences, many consumer complaints actually equate to compliance violations.

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Nexa Collect

JUNE 21, 2023

It’s also important to know your rights under the relevant laws, such as the Fair Debt Collection Practices Act (FDCPA) in the United States. Consulting with a financial advisor, credit counselor, or attorney can also be helpful in navigating the complexities of dealing with debt collection agencies.

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Taurus Collect

SEPTEMBER 2, 2024

The Need for Ethical Debt Collection In an ever-evolving financial landscape, understanding the importance of ethical debt collection is crucial for maintaining trust and fostering long-term relationships. Tools and Techniques Using the right technology can significantly impact your debt collection strategies.

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Nexa Collect

JUNE 23, 2023

It’s important for debtors to understand their rights under the Fair Debt Collection Practices Act (FDCPA) or any relevant laws in their country, as this can help protect them from harassment or unfair practices by collection agencies.

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Nexa Collect

JUNE 23, 2023

Fear and Avoidance : Some debtors might react with fear, leading to avoidance tactics such as not answering the phone, which can potentially exacerbate the issue if it delays the resolution of the debt.

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Troutman Sanders

MAY 5, 2021

Debt Recovery Sols. 22, 2021), the court dismissed a putative class action alleging violations of the Fair Debt Collections Practices Act, finding that the named plaintiff had not suffered a concrete injury, and therefore, he lacked standing to assert a claim. In Shepherd v. of Ohio, Inc. , 3:20-cv-520 (N.D.

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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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Debt RR

SEPTEMBER 9, 2020

Collection agencies for small businesses are third-party establishments that collect overdue payments or funds from default accounts. What they can and cannot do when doing so are regulated by the Fair Debt Collection Practices Act. How Small Businesses Proceed with Collections.

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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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Credit Management Company

JANUARY 25, 2022

After speaking with colleagues, you were told about the possibility of commercial debt collection agencies taking over. This is known as business-to-business debt, these firms specialize in debt recovery owed by businesses. This type of debt collection can be hard to understand at first.

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Better Credit Blog

APRIL 1, 2022

Transworld Systems, Inc (TSI) is a well-known debt collection agency in the United States that works with individuals, large companies, and organizations to assist them in debt recovery and past due accounts. Debt Validation. They recently acquired Alltran Financial Services in 2020.

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Troutman Sanders

JUNE 30, 2021

Columbia Debt Recovery , a Washington district court awarded each plaintiff $30,000 in emotional distress damages under the Fair Debt Collection Practices Act (FDCPA), $120 in treble actual damages under the Washington Collection Agency Act (WCAA) and the Washington Consumer Protection Act (WCPA), and $2,000 in statutory damages under the FDCPA.

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Nexa Collect

JUNE 24, 2023

These laws and regulations may vary depending on the country or jurisdiction in which the debt collection agency operates. In the United States, for example, debt collectors must adhere to the Fair Debt Collection Practices Act (FDCPA).

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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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Taurus Collect

JUNE 12, 2023

This is particularly true when it comes to debt recovery collection agencies, who will often take legal action if they feel they’re not making progress in collecting the debt. That’s where the Fair Debt Collections Practices Act comes in to protect you.

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Debt RR

SEPTEMBER 9, 2020

Initiate the legal process: No legal action or harsh debt recovery techniques can be utilized before a debtor receives the collection letter. That is why we compiled tips on how to write a debt collection letter below: Understand the Legal Regulations. The Fair Debt Collection Practices Act is quite broad.

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Debt Collection Answers

MAY 18, 2023

This is especially relevant due to multiple consumer complaints alleging violations of the Fair Debt Collection Practices Act (FDCPA) against this agency. Capio Partners’ expertise lies in purchasing unpaid debts from healthcare providers and pursuing repayment from those who owe the amounts.

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Credits Inc

DECEMBER 11, 2018

From the start, debt collectors are trained to never harass or mistreat consumers. The Fair Debt Collection Practices Act (FDCPA) protects consumers from abusive, unfair, or deceptive conduct a bad debt recovery agency might display.

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Better Credit Blog

APRIL 1, 2022

If you’re unable to pay your original creditor, your debt may pass to a debt recovery agency, earning a collection letter and possibly a stain on your credit report. Therefore, if you’re contacted by a debt collector, simply state that you understand your rights under the Fair Debt Collection Practices Act.

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Troutman Sanders

SEPTEMBER 6, 2023

Columbia Debt Recovery, LLC , the plaintiff, a tenant under a residential lease agreement, vacated the premises early due to concerns over the property’s condition. In response, the property management company engaged a collection agency to recover the remaining amounts claimed as due and owing under the lease.

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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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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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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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Credit Management Company

FEBRUARY 22, 2022

As mentioned above, many debt collection agencies offer payment plans and avenues through which to pay. If you explain your circumstances, they’ll likely find ways to work with you to resolve your debt. Myth: The FDCPA Will Protect Any Debt Collector.

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