Sawin & Shea

JUNE 9, 2021

The FTC (Federal Trade Commission) is an arm of the United States government that enforces consumer protection and antitrust laws. The FDCPA applies only to debt collectors (the third-party collection agencies), not to the original lender. They don’t have carte blanche to do whatever they want. Call before 8:00 a.m. or after 9:00 p.m.

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Credit Corp

JUNE 3, 2021

In some cases, a spouse might have some legal protection against creditors seeking to collect money owned by their partner. Accounts containing government benefits. Accounts that hold government benefit payments , such as those that come from Social Security, also have some special protections when it comes to collections.

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Debt Collection Answers

MAY 18, 2023

ARS National Services represents original creditors and debt buyers, which include major banks and credit card companies. The company works as an agent for original creditors and debt buyers, assisting them in recovering delinquent accounts. This debt collection company covers all 50 states in the United States.

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True Accord

SEPTEMBER 16, 2022

Trying to keep up with regulations in debt collection can feel overwhelming especially with new cases and federal guidance coming out regularly interpreting the law and states actively amending or creating new laws that impact debt collectors, original creditors, and current creditors.

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Credits Inc

OCTOBER 26, 2019

The debtor does not communicate to the creditor, but instead, they agree with the agency on how the payment will be made. The government has been listed as the top creditor that 16% of all debt collected by debt collection agencies in the US are government-related debts. government collection agency.

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Sawin & Shea

JANUARY 28, 2021

There are also a few important things you should keep in mind about talking to collection companies and creditors. During your bankruptcy process, you might receive calls from collection agencies as well as the original creditors. These tips will help you handle collection calls correctly. But don’t hang up!

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The Kaplan Group

JANUARY 19, 2021

In October of last year, the government updated the language on the FDCPA. Keep in mind, the FDCPA gives you the right to ask any collection agency to provide you with a detailed account of how the total debt amount was calculated and the name of the original creditor. The new rules officially take effect in October 2021.

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Better Credit Blog

FEBRUARY 18, 2021

This means that your original creditor has officially handed the account over to a collection agency that will hound you for payments. government agencies. Have you missed a few payments on one or more of your bills? You may start getting calls from a debt collector. healthcare providers. public utilities.

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Credit Management Company

FEBRUARY 22, 2022

Myths About Using a Collection Agency: Paying the Original Creditor to Bypass Agencies. Many people believe they can get around dealing with debt collection agencies by paying their original creditors directly. We offer debt recovery for several industries, including healthcare, government, commercial, and more.

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Troutman Sanders

MARCH 22, 2023

An Illinois federal district court recently denied a creditor-defendant’s motion for summary judgment in a Fair Credit Reporting Act (FCRA) case brought by a consumer who questioned why his debt was being reported twice — as both a tradeline with the original creditor and as a tradeline with a third-party collection agency.

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Taurus Collect

JUNE 16, 2022

When you have a debt in collection and receive a call/ notice from a debt collector, it indicates that your original creditor has redirected the debt to a debt collection agency or a third party to collect it. While the debt shown in the collection can negatively impact your credit score, the severity of the impact reduces over time.

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Collection Industry News

MARCH 18, 2023

“Given the level of errors, problems, and abuses by debt collectors in furnishing and resolving disputes, requiring an original creditor tradeline is a reasonable quality control mechanism,” the NCLC said.

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Collection Industry News

MARCH 23, 2021

Further, if you make a written request upon this office within THIRTY (30) days of receiving this notice, this office will provide you with the name and address of the original creditor, if different from the current creditor. This is an attempt to collect a debt and any information obtained will be used for that purpose.

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Better Credit Blog

JULY 13, 2020

This is because the original creditor of your debt has hired them to recover payments from you. You may find that the same debt is listed twice: once for the original creditor and once for Nationwide Recovery Service. The FDCPA is federal legislation that aims to regulate and govern the debt collection industry.

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Better Credit Blog

AUGUST 31, 2020

They are a third-party debt collector, which means that they may be hired by your original creditor, or they may purchase your old debt on the chance that you pay them instead. Originally founded in 1985, ConServe is a medium-sized debt collector that is headquartered in Fairport, NY. Hire a Professional. Validate the Debt.

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Taurus Collect

MAY 11, 2023

If the court rules in favour of the creditor, wage garnishment or bank account levies may be put in place to collect the debt. However, it is important to note that there are laws and regulations that govern the debt collection process to protect both parties involved. Here are some tips to keep in mind when selecting a provider: 1.

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Better Credit Blog

AUGUST 31, 2020

Covington Credit is a third-party collector that collects payments from you on behalf of the original creditor or as the now-owner of the debt. Originally founded in 2002, Covington Credit is a small debt collection agency headquartered in Greenville, SC. It is possible that the debt doesn’t even belong to you.

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National Service Bureau

JULY 21, 2015

In 2009, the North Carolina legislature passed Senate Bill (SB) 974, which governed the requirements surrounding debt collection and asset buying in the state. For example, the following are still requirements to bring a lawsuit: The original account number, original creditor, the total amount claimed, an itemization of post charge?off

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Better Credit Blog

AUGUST 31, 2020

They collect on behalf of a variety of industries such as health care, telecommunications, financial institutions, government agencies, utility providers, and many more. You can ask Convergent Outsourcing for a goodwill deletion on the grounds that the debt is paid, and you are in current good standing with the original creditor.

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Credit Corp

MAY 3, 2023

Don’t forget to file a dispute with the original creditor who reported the error as well. If you decide to mail a physical letter instead, send your letter via certified mail with return receipt requested. Include all the following information when filing a dispute.

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Taurus Collect

OCTOBER 30, 2023

This letter outlines the amount owed, the original creditor, and offers a specific timeframe to settle the debt. These include: Compliance with Law: You are required to comply with relevant laws and regulations governing debt collection.

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Collection Industry News

AUGUST 3, 2021

After several failed attempts to contact the original creditor to verify the debt, Keybridge requested that the CRAs delete the reporting related to the disputed debt. In responding to the CRAs, Keybridge reported the account as being disputed by the consumer.

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Taurus Collect

NOVEMBER 15, 2023

In this post, we will explore the rights and regulations governing debt collection in the UK. As a debtor, you have the following rights: Right to Privacy: Debt collectors are not allowed to share information about your debts with anyone else except your attorney or the original creditor.

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Better Credit Blog

SEPTEMBER 9, 2020

Originally founded in 2014, Phoenix Financial Services is a small debt collection agency out of Indianapolis, IN. They specialize in collecting debts from medical institutions, student loan providers, and government agencies. This process can identify if there is any inaccurate information tied to your debt.

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Taurus Collect

FEBRUARY 1, 2024

A debt collector is an entity, often a third-party agency, hired by creditors to recover funds that are past due or accounts that are in default. Sold Debt : Sometimes, the original creditor sells the debt to a collection agency if they have been unsuccessful in collecting the debt themselves. What Is a Debt Collector?

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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. They cannot send letters with the appearance of an official government or court letter. Calling can only happen between the hours of 8 a.m.

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Collection Industry News

APRIL 2, 2024

But that protection only applies to third-party debt collectors who were not the original creditor. That means a bank trying to collect on its own loan, for example, is not subject to the restriction. The $1,000 maximum is also per lawsuit, not per incident as the claim asserts.

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FDCPA Defense

JANUARY 22, 2017

In some jurisdictions, even statements that you make to a court, or to your opposing counsel, may be governed by the FDCPA, so these practices should also be evaluated for compliance with the Act. If your firm is served with a class action complaint, you certainly must turn your attention to it immediately. 3d_, 2016 WL 4651403 (7th Cir.

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Troutman Sanders

NOVEMBER 16, 2021

Federal Activities: On November 10, the Consumer Financial Protection Bureau (CFPB) joined other government agencies to announced a return to enforcement of critical protections for families and homeowners. About 80% of these funds will go to local governments, which have been increasingly targeted by cyberattacks during the pandemic.

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Troutman Sanders

MAY 17, 2021

cybersecurity practices and protect federal government systems. The executive order calls for collaboration between the federal government and the private sector to confront “persistent and increasingly sophisticated malicious cyber campaigns” that threaten U.S. For more information, click here.

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Collection Industry News

SEPTEMBER 8, 2020

Note, however, that the FDCPA applies only to third party collectors who collect debt for original creditors. It does not apply to the original creditor itself who uses its own employees to collect debt. k) Sending you anything that looks like an official document from a court or government agency, when it is not.

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