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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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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FFGN COLLECT NY

DECEMBER 15, 2021

Contact you at work if the debt collector knows or believes your employer prohibits personal calls. The Bureau educates, establishes and enforces rules, and has a compliance arm addressing debt collection as it relates to consumer collections. Use obscene or profane language.

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Nexa Collect

JUNE 23, 2023

Disputing the Debt : In some cases, debtors may believe that the debt is not theirs or is inaccurate. In such cases, the collection letter may prompt them to dispute the debt with the collection agency or credit bureaus. It can serve as a learning experience that impacts future financial decisions.

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Nexa Collect

JUNE 27, 2023

Wage Garnishment : In some cases, especially with federal student loans in the United States, the lender or collection agency can get an administrative garnishment order which allows them to take a certain percentage of the borrower’s wages directly from their employer.

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Collection Industry News

NOVEMBER 25, 2024

In other instances, according to the complaint, GCI calls consumers’ family members, making similar threats of legal action, and those calls have continued even after the company has been in contact with the consumer from whom they are seeking to collect the bogus debt. million in bogus debts to the company.

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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. Education: Educate your employees. Why Do People Call Bait?

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Collections Debt collector Debtor Fair Debt Collection 52

Sawin & Shea

AUGUST 24, 2020

Debt collection agencies can be thoroughly unpleasant. While debt collectors can be persistent, the Fair Debt Collection Practices Act (FDCPA) was in place to stop collector harassment, and it’s good to stay educated about what debt collectors can and can’t do.

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True Accord

FEBRUARY 11, 2025

While it is not expected to pass, it is a prime example of the misunderstandings around these technologies and emphasizes the need to educate and advocate for digital adoption because consumers largely prefer these sorts of methods.

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Nexa Collect

JUNE 24, 2023

In the United States, for example, debt collectors must adhere to the Fair Debt Collection Practices Act (FDCPA). They should be educated about the importance of data security and privacy.

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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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Collection Industry News

MARCH 23, 2021

CFPB submits 2020 report to Congress on the administration of the Fair Debt Collection Practices Act. The Consumer Financial Protection Bureau (CFPB) released the 2020 annual report to Congress on the administration of the Fair Debt Collection Practices Act (FDCPA). WASHINGTON , DC (March 22, 2021) —.

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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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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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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. , 682.405(a)(1).

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Better Credit Blog

AUGUST 7, 2020

Mail RCS a Debt Validation Letter. Are you worried that RCS is contacting you by mistake about a debt you don’t actually owe? Thanks to the Fair Debt Collection Practices Act, debt collectors are legally required to present you with verification of your debt upon request. Get professional help.

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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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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 3, 2020

Originally founded in 1985, Advanced Collection Services is a small collection agency that is headquartered in Bangor, ME. They specialize in the collection on behalf of medical institutions, commercial enterprises, government agencies, financial institutions, utility companies, and higher education institutions.

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Payment Savvy

JUNE 16, 2020

For example, the Fair Debt Collection Practices Act (FDCPA) prohibits abusive, deceptive, and unfair practices during debt collection. Educate Yourself on the Account. Remember that there are specific laws regulating communications between a collector and a debtor. The Payment Savvy Difference.

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Taurus Collect

JUNE 12, 2023

Knowing Your Rights Nobody likes getting a phone call or letter from a debt collector, especially if they’re constantly harassing you. That’s where the Fair Debt Collections Practices Act comes in to protect you. The Fair Debt Collections Practices Act is here to help you do just that.

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Troutman Sanders

SEPTEMBER 19, 2022

The standard courts should use to determine whether an alleged Fair Debt Collection Practices Act (FDCPA) violation is material remains unsettled. Pioneer) to help collect the debt. In Tavernaro v. Pioneer Credit Recovery, Inc. ,

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Better Credit Blog

SEPTEMBER 9, 2020

Debt collectors like Sunrise Credit Services use a number of questionable tactics to get you to pay a debt. However, most of these tactics are actually unlawful under the Fair Debt Collection Practices Act (FDCPA). It forbids a number of practices including: Harassing you by telephone. Request a Goodwill Deletion.

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Better Credit Blog

AUGUST 21, 2020

The Fair Debt Collection Practices Act (FDCPA) is a law that makes sure that companies like MRS BPO LLC treat their customers fairly and with respect. By educating yourself, you are arming yourself with the knowledge to face MRS BPO LLC with assurance and confidence. Request Debt Validation.

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Better Credit Blog

AUGUST 4, 2020

The agency buys third-party debts from service providers in several industries for pennies on the dollar, profiting on its collections. Educational institutions. Instead, give one of the strategies below a try to get the collection agency removed from your credit report. Send a debt validation letter.

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Better Credit Blog

AUGUST 17, 2020

One of the surefire approaches below can help you get the collection agency deleted from your credit report completely. Send a debt validation letter. Send Cavalry SPV a Debt Validation Letter. The Fair Debt Collection Practices Act doesn’t just monitor debt collectors’ communication methods.

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Debt collector Fair Debt Collection Collection Agencies Collections Agency 52

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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FFGN COLLECT NY

JUNE 11, 2020

The change codified in CPLR Section 213-d provides: An action on a medical debt by a hospital licensed under article twenty-eight of the public health law or a health care professional authorized under title eight of the education law shall be commenced within three years of treatment. The Effect on Providers.

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Payment Savvy

JUNE 24, 2020

This will reward the collection agency with a steady cash flow and keep you ahead of the competition. We all know debt collection is regulated mainly by the Fair Debt Collection Practices Act ( FDCPA ). The act protects consumers from unfair treatment, harassment, and intimidation by collection agents.

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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. Send a Debt Validation Letter.

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Better Credit Blog

OCTOBER 5, 2020

Try out one of the approaches below, and you could be collections-free in a few weeks. Get your debt validated. Get Your Debt Validated. The Fair Debt Collection Practices Act is great for a lot of reasons, one being that it requires collections agencies to present proof of a debt before you’re required to make a payment.

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Payment Savvy

JUNE 30, 2020

In terms of debt collection, hospitals should adhere to fair practices that don’t violate the rights of the patients. Hospital workers must be educated on billing and collection best practices to ensure policies are applied consistently.

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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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Better Credit Blog

SEPTEMBER 2, 2020

Send Avante USA a Debt Validation Letter. Thanks to the Fair Debt Collection Practices Act , debt collectors have to prove that you actually owe them the amount they’re claiming you do. Avante has four primary collections divisions: Auto, commercial, credit card, education, and retail collections.

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Better Credit Blog

SEPTEMBER 18, 2020

National Credit Services is a medium-sized debt collection agency that is headquartered in Bothell, WA. Founded in 2000, they collect a variety of debt types such as higher education, healthcare, financial and commercial debt. You may be wondering if National Credit Services is a legitimate debt collector.

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Debt collector Fair Debt Collection Original Creditor Collections 52

The Kaplan Group

FEBRUARY 19, 2020

It’s possible that the person calling you is a scam artist, or that the debt actually belongs to someone else with a similar name or contact information. Individuals should educate themselves about the Fair Debt Collection Practices Act (FDCPA).

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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. This law ensures that debt collectors treat consumers ethically and report accurately.

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