Nexa Collect

JUNE 23, 2023

Impact on Credit Score : If a collection agency reports the debt to credit bureaus, it can negatively affect the debtor’s credit score. This makes it harder for them to get loans, credit cards, or sometimes even jobs in the future. Negotiations and Payments : Some debtors might choose to negotiate with the collection agency.

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Collections Agency Collection Agencies Debtor Collections 100

Sawin & Shea

AUGUST 24, 2020

Bankruptcy will wipe out credit card debt, medical bills, and personal loans, but will not eliminate primary obligation debt; things like student loans, child and spousal support, and newer tax debt. There are limitations as to the amount of debt you can have, and it is limited to individuals and sole proprietors.

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Better Credit Blog

APRIL 4, 2022

Regardless of what a debt collector might tell you, you have a lot of rights when it comes to how debt can be collected. In fact, merely mentioning that you understand your rights will, many times, stop debt collectors in their tracks. Your rights come from the Fair Debt Collection Practices Act (FDCPA).

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Debt collector Fair Debt Collection Collections Agency Collection Agencies 116

Better Credit Blog

APRIL 1, 2022

A good credit score allows you to get better rates on car or mortgage loans just to name a few. If you fall into hard times, the inability to pay off your credit card bills or student loans can result in your debts being transferred to a debt collection agency. Debt Validation. Calling you before 8:00 A.M

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Debt Free Colorado

JUNE 18, 2024

Know How to Stop Creditor Harassment & Wage Garnishment Debt can be a heavy burden. Creditor harassment is any aggressive or threatening communication from a debt collector. Wage garnishment is a legal procedure where a creditor obtains a court order to withhold part of your earnings from your paycheck to repay a debt.

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Better Credit Blog

APRIL 3, 2022

If you’re hearing from this Norfolk, Virginia-based collection agency, you owe the agency money, and it has a strong incentive to collect on your debt. When you hear from Portfolio Recovery (or any other debt collector), let the agency know that you know your rights. Make Them Prove the Debt is Yours.

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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. The packet’s first two pages contained information about the alleged debt and ordered the employer to garnish the plaintiff’s wages.

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Student Loans Student loans Garnishment Fair Debt Collection 52

Credit Corp

MARCH 12, 2025

Its often included as a clause in credit card and loan agreements. Debt collectors may also favor arbitration, as it saves them the cost and hassle of going to court. credit card agreement or loan document) to make sure it includes an arbitration clause, and make sure the clause applies to the current debt and lawsuit.

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Debt Free Colorado

APRIL 1, 2021

If you’ve ever taken out a payday loan, chances are that you’ve received an email like the following, regardless of whether you paid off the loan or not. Also, it’s a violation of the Fair Debt Collection Practices Act (FDCPA) for a third party debt collector to disclose information about your debts to others.

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Law Firms Third-party Debt Collectors Lawyers Loans 75

Troutman Sanders

MARCH 12, 2025

The defendants are accused of violating multiple federal statutes, including the FTC Act, the Fair Debt Collection Practices Act (FDCPA), the Gramm-Leach-Bliley Act (GLBA), and the FTC’s Trade Regulation Rule on Impersonation of Government and Businesses. They also misrepresented themselves as attorneys and law firms.

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Collections Law Firms Fair Debt Collection Garnishment 52

Sawin & Shea

JULY 20, 2022

Doctors, hospitals, shops, mail-order businesses, and occasionally banks and loan firms all use collection agencies. The majority of lawyers who collect debts on behalf of their clients are also considered “debt collectors” under federal law. When Are Debts Covered By the Law? Unfairness.

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Debt collector Collections Agency Collection Agencies Bankruptcy 78

Credit Corp

DECEMBER 14, 2020

Whether you have medical debt, credit card debt or unpaid student loans , getting calls or letters from debt collection companies can be frustrating. But it’s especially frustrating if your debt is several years old. Ask the creditor to send you written notice of the debt.

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Sawin & Shea

SEPTEMBER 27, 2023

If the court grants a judgment in favor of the creditor, they have additional collection options, such as wage garnishment, bank account levies, or placing liens on the debtor’s property.

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Credit Corp

AUGUST 31, 2021

Some debt buyers —companies that buy and try to collect very old debts—still go after borrowers and might even take them to court. If they do this knowing that the debt is past the statute of limitations, they may have violated the Fair Debt Collections Practices Act. You default on that debt.

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Debt collector Collections Collections Agency Collection Agencies 75

Troutman Sanders

MARCH 29, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. On March 22, the CFPB released the 2020 annual report to Congress on the administration of the Fair Debt Collection Practices Act (FDCPA).

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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 Collections Agency Collection Agencies 52

Better Credit Blog

AUGUST 25, 2020

Collections reporting. Collections consulting. The agency collects on several types of debts, like credit cards, utility bills, student loans, medical bills, and auto loans. Here’s how: Submit a debt validation letter. Submit a Debt Validation Letter. Litigation management.

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Debt collector Collections Agency Collection Agencies Third-party Debt Collectors 52

Collection Industry News

SEPTEMBER 23, 2020

However, over the past several years, the civil courts in most states have been overrun by debt collection cases against consumers. Whatever the reason, ignoring a debt collection lawsuit can mean big trouble. In some cases, the debt collector may even owe the consumer compensation for those violations.

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Better Credit Blog

APRIL 1, 2022

You don’t have to endure this kind of hassle just because you’ve run up some consumer debt or have gotten behind on your credit card payments. The Fair Debt Collection Practices Act limits a debt collector’s behavior as it seeks to collect a debt from you.

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Debt collector Credit Card Debt Third-party Debt Collectors Collections 73

National Service Bureau

AUGUST 19, 2015

Some of the laws and organizations that govern and oversee these interactions are the Consumer Financial Protection Bureau (CFPB), the Fair Debt Collection Practices Act (FDCPA), and the Fair Trade Commission (FTC).

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Better Credit Blog

SEPTEMBER 8, 2020

It could only take one missed payment on your car loan, credit card, or phone bill to harm your credit score and wind up on a debt collector like Northland Group’s list. Northland Group collects for businesses in a few industries, such as: Auto loans. Student loans. collecting on debts that the company buys.

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Debt collector Collections Agency Collection Agencies Collections 52

Collection Industry News

JUNE 1, 2023

Expanding Debt Markets: Debt markets have witnessed significant expansion in recent years, both in developed and emerging economies. The growing complexity of financial products, such as credit cards, mortgages, and student loans, has led to a surge in outstanding debts.

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BN Lawyers

APRIL 30, 2019

Debtors who have filed for bankruptcy and received their Discharge often continue to receive collection letters and phone calls from their creditors. Some creditors even go so far as to sue on these discharged debts or garnish wages and bank accounts. Phone calls, collection letters and public announcements of default.

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Troutman Sanders

DECEMBER 20, 2022

On December 15, the Office of the Comptroller of the Currency, along with the Federal Financial Institutions Examination Council, released revised procedures for how its examiners will investigate financial institutions for Fair Debt Collection Practices Act compliance, incorporating Regulation F changes into their review.

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Jimerson Firm

JANUARY 16, 2023

The Florida Consumer Collection Practices Act (FCCPA) and the Fair Debt Collection Practices Act (FDCPA) are two pro-consumer statutes. Businesses should be aware of each statute and how to defend against such claims.

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FDCPA Defense

FEBRUARY 3, 2019

Attorneys who regularly engage in collection work for community associations have increasingly become targets for lawsuits filed by professional consumer attorneys under the Fair Debt Collection Practices Act (“FDCPA” or “the Act”), 15 U.S.C. Litton Loan Serv. Federal Home Loan Mortg. System, Inc.,

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Account Recovery

NOVEMBER 27, 2024

As you may know, there are two FDCPAs — the Fair Debt Collection Practices Act and the Federal Debt Collection Procedures Act. The CFPB had used Kansas state law to obtain a Charging Order attaching James Carnes’s interests in several LLCs.

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