Collection Industry News

OCTOBER 27, 2020

Axiom Acquisition Ventures, LLC (“Axiom”) bought Robert Valenzuela’s consumer debt from a bank after he allegedly defaulted on his personal loan payments. Axiom sent Valenzuela a letter informing him that his debt had been reassigned and instructing him to remit future payments to Axiom.

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Credit Corp

JUNE 1, 2023

When this happens, it means your debt has gone to collections and debt collectors from the collection agency will now try to contact you for payment. Some contracts may have a grace period where you can still pay your debt after it’s due.

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Debt Collection Answers

MAY 18, 2023

Caine and Weiner is a prominent debt collection firm that operates across various sectors, gathering debts from a range of industries, including: Personal loans Phone bills Student loans Credit cards To secure his debts, Caine and Weiner acquire them from the original creditors at a reduced price, then pursue the entire amount from the debtor.

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Debt Free Colorado

JUNE 18, 2024

Contact your friends, family, or employer about your debt. Publicly shaming you for not paying your debt. Falsely inflating the amount of debt you owe. The Fair Debt Collection Practices Act (FDCPA) is a federal law in the United States that protects consumers from creditor harassment.

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Sawin & Shea

SEPTEMBER 27, 2023

The money earned from these sales then goes to the creditors and any remaining balances on the debts are discharged. 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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Collection Industry News

JUNE 14, 2023

There are several key consumer laws that collectors should be concerned with when engaging in debt collection practices. Fair Debt Collection Practices Act (FDCPA): The FDCPA sets standards for debt collection practices in the United States.

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Credit Corp

SEPTEMBER 12, 2023

FAQ Consider Hiring a Credit Repair Company How Collection Accounts Impact Your Credit Collection accounts have a significantly damaging impact on your credit score because they’re negative marks that indicate to lenders you may not pay your bills on time—or ever.

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Better Credit Blog

APRIL 1, 2022

If you make on-time payments on your other credit cards and personal loans, your good payment history will start to compensate for the bad, softening the blow of the repo. Negative information stays on your credit report for seven years from the day it appears in your file.

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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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Collection Industry News

SEPTEMBER 23, 2020

And debt buyers often lack the necessary documentation to prove either that they have the right to pursue the claim or that the amount owed is accurate. If a debt buyer or collection agency has violated a consumer protection statute such as the Fair Debt Collection Practices Act (FDCPA)–and they often do–that provides leverage to fight back.

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FDCPA Defense

FEBRUARY 1, 2018

Attorneys and other entities that regularly engage in collection work for community associations may be subject to the requirements of the Fair Debt Collection Practices Act, 15 U.S.C. as well as analogous state laws governing the consumer collection process. See Bloom v. System, Inc., 2d 1067, 1068 (9th Cir.

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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. and analogous state laws. See Bloom v. System, Inc., 2d 1067, 1068 (9th Cir.

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Credit Corp

JUNE 2, 2021

Any time you are contacted by a collection agency, you have the right to written confirmation of the debt as well as the right to dispute it. That’s your right under the federal Fair Debt Collection Practices Act. Medical Debt and Your Credit Score.

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Better Credit Blog

APRIL 5, 2022

Ask the Collection Agency to Validate the Debt. If you can’t find inaccuracies on your credit reports, write to the collection agency and ask it to validate your debt. The main issue here is that you have only 30 days to make the request after the collection agency first contacts you.

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Credit Corp

MARCH 4, 2025

Understand Your Rights Under the terms of the federal Fair Debt Collection Practices Act (FDCPA) , creditors and debt collectors arent legally allowed to: Harass or abuse you: This includes using threats, obscene language, or repeated calls. Go to the negotiating table with a firm figure in mind.

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