Account Recovery
MARCH 14, 2023
The National Consumer Law Center has submitted a petition to the Consumer Financial Protection Bureau requesting that original creditors be responsible for furnishing information related to debt collection activity undertaken by third-party debt collectors or debt buyers, and that collectors should be required to review documents like the original (..)
Nerd Wallet
NOVEMBER 16, 2020
Working with third-party debt collectors can be confusing and scary. adults with debt in collections, knowing their legal rights is crucial. The Fair Debt Collection Practices Act covers third-party debt collectors — those who buy a delinquent debt from an original creditor, like a credit card company.
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PDC Flow
MARCH 24, 2025
That means a collector or agent can direct a customer to a payment portal and stay on the chat to verify the payment went through. Especially for third party debt collectors, pivoting away from mail might require lots of internal work to make sure youre following digital compliance rules.
Troutman Sanders
NOVEMBER 16, 2021
The Act amends provisions of New York’s Civil Practice Law and Rules, commonly referred to as the CPLR, and the Judiciary Law to require original creditors and third-party debt collectors to include certain information and documents when filing and prosecuting debt collection actions.
Credit Corp
NOVEMBER 9, 2020
The Fair Debt Collection Practices Act is a federal law that protects consumers against certain unfair collection practices. It applies to only external or third-party debt collectors and only for personal debts. It does not come into play for creditors collecting their own debts.
True Accord
JUNE 25, 2020
Debt sales play a unique role in the collections industry, as choosing between selling to a debt buyer and placing accounts with a third-party debt collector can make or break a brand. What is a debt buyer? As mentioned before, consumers may not separate the debt buyer from the debt they owe.
Taurus Collect
JANUARY 2, 2023
In fact, once the lender has hired a debt collection agency, you will make payment directly to the agency instead of the original creditor. A collection account is a debt turned over to a third-party debt collector or a debt collection agency because the borrower has failed to pay it as agreed.
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