Collection Industry News

JUNE 12, 2023

These experts specialize in debt recovery and have the necessary skills and resources to handle difficult or stubborn debtors. This documentation can serve as crucial evidence in case legal action becomes necessary. Understand the rights and protections afforded to debtors, as well as your own rights as a creditor.

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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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Debt Recoveries

JUNE 1, 2021

Every invoice and statement that you send out to a client or debtor should contain the exact and up-to-date information about how much they owe you, when that amount is due, and when it will be considered late. Knowledge is power, and the more you know about your debtors/customers, the more power you have. Keep Good Records.

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Direct Recovery

JUNE 24, 2020

The key determining factor in whether or not one of the $1,200 stimulus checks can be garnished is whether or not the debtor in question has an existing judgement filed against them. In a situation where a standing judgment exists, it is possible for the person holding that judgment to garnish a portion of the debtor’s stimulus check.

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Jimerson Firm

DECEMBER 14, 2021

In the event of any inconsistency between any provision of this part and any provision of the federal act, the provision which is more protective of the consumer or debtor shall prevail.” Had actual knowledge that the right did not exist. This part is in addition to the requirements and regulations of the federal act. 559.552, Fla.

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Collections Law

APRIL 1, 2020

Collecting debts from debtors having assets in Massachusetts while you are in another state or a different country used to be difficult, even if you had a judgment against them. If you are in another state or country and have obtained a judgment against a Massachusetts debtor, or if your debtor has assets in Massachusetts, we can help.

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Taurus Collect

NOVEMBER 15, 2023

How Do Collection Agencies Operate and What Are Their Legal Rights Collection agencies in the UK operate within strict regulations, and their rights and powers are clearly defined by the law. They can’t harass debtors or act unfairly. Therefore, any changes could lead to inaccuracies in their credit report.

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Collection Industry News

DECEMBER 21, 2020

According to the Bureau’s Consent Order, the Agency began purchasing and collecting on consumer debt beginning in 2012, and hired debt collection law firms to assist in their collection efforts by suing debtors in 2014.

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ABI

JANUARY 20, 2020

In a debtor/creditor relationship, a debtor may explicitly, or implicitly, waive their rights. 2] The judgments were then recorded as judgment liens on property owned by the Debtor (the “Artesian Property”).” [3] or general partner in the debtor.” [18] or general partner in the debtor.” [18] v Advance Mech.

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Sawin & Shea

SEPTEMBER 27, 2023

Chapter 7 is also known as liquidation bankruptcy because in exchange for receiving a discharge of most kinds of debts, the debtor has to give up non-exempt assets. Debt collectors have a legal right to pursue the collection of personal debt within the bounds of the law. The Court can sell all nonexempt possessions and assets.

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Taurus Collect

OCTOBER 30, 2023

Understanding the art of debt collection can be a challenging task for any business, especially when the debtor refuses to pay despite many reminders. Understand Your Legal Rights Awareness of Commercial Debt Recovery laws: Primarily, you must have a thorough understanding of the laws governing commercial debt recovery in the UK.

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The Kaplan Group

APRIL 12, 2021

In the USA, typically, you will not have the legal right to recover collection costs or attorney fees unless there is a signed written agreement with this provision. This potential extra cost to the debtor typically gets the issue higher up on their priority list of problems to solve.

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FFGN COLLECT NY

APRIL 6, 2021

While the underlying agreement or contract may seem straightforward, you need to do a thorough evaluation to make sure you aren’t waiving your legal rights by signing the contract. The change in law prohibited the use of confessions of judgment for all debtors residing outside of New York State.

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The McHughes Law Firm

JUNE 22, 2016

A guarantee of payment is a far more effective tool , as it allows a creditor to proceed directly against the guarantor without the necessity of taking any action against the primary obligor [debtor]. In order for a personal guarantee of a corporate obligation to be binding, value or consideration must be received.

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Jimerson Firm

JANUARY 12, 2024

—In collecting consumer debts, no person shall: (9) Claim, attempt, or threaten to enforce a debt when such person knows that the debt is not legitimate, or assert the existence of some other legal right when such person knows that the right does not exist. In order to establish a violation of Section 559.72(9)

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Stevens Lloyd

JULY 17, 2018

Your mental state affects the way you handle the debtors and the way they respond to you. So, it is required for you to know your legal rights. Once you understand the legal actions which you can or cannot take, you will become more confident while interacting with your clients. Your wrath will be felt by the clients.

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Consumer Financial Services Law

NOVEMBER 12, 2019

The order stated that “a creditor may have the right to enforce a valid lien such as a mortgage or security interest. Also, a debtor may voluntarily pay any debt that has been discharged.” As such, the mortgage on the surrendered property was discharged. Post-discharge, Nationstar, instead of foreclosing, sent Ms.

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FFGN COLLECT NY

JANUARY 31, 2024

The role of the Attorney General (AG), head of the Department of Law, is “both the People’s Lawyer and the state’s chief legal officer…serves as the guardian of the legal rights of the people of New York, its organizations, and its natural resources.”

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