Better Credit Blog

APRIL 3, 2022

In other words, when the original creditor has been unsuccessful in collecting on a debt, it will write off the debt as a loss. There’s a chance some details about your account got lost in the transfer from the original creditor. How Portfolio Recovery Associates Works. This is called a charge-off.

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Credit Management Company

AUGUST 9, 2022

The Federal Trade Commission (FTC) has established debt collection guidelines to protect consumers from predatory collections practices. A statement that the debt collector will provide to the consumer, within 30 days, the name of the original creditor if different than the debt collector. Why you need to validate debt.

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PDC Flow

OCTOBER 20, 2020

However, trade organizations – like the California Association of Collectors (CAC) – remain dedicated to providing resources and networking opportunities for members, just as in years past. Adapting live conferences to a digital format has created many challenges for events coordinators this year. 3) Withdrawal of consent. 1692d and d(5).

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Better Credit Blog

APRIL 1, 2022

According to the CFPB (Consumer Financial Protection Bureau) and the BBB (Better Business Bureau), TSI or www.tsico.com has had over 5,000 (CFPB) and 300 (BBB) complaints filed with the Federal Trade Commission stating inaccurate reporting and even threatening legal actions they are not legally allowed to follow through on.

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Credit Corp

AUGUST 31, 2021

It means the creditor or collector can’t use the legal system to force you to make good on the debt. According to the Federal Trade Commission , whether or not collectors can continue to contact you about a time-barred debt is up to various state laws. It’s listed as a tradeline by your creditor on your credit report.

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Credit Corp

MAY 3, 2023

According to the Federal Trade Commission , around 25% of people have errors on their report that could affect their credit score. Instead of working with the credit bureaus, you need to discuss removing these negative items with the original creditor. Remaining a customer may give you leverage to negotiate a deal.

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Credit Corp

AUGUST 24, 2020

If you suspect that you are being contacted by a scammer, you can submit a complaint with the Federal Trade Commission. Collectors must provide a written notice explaining the debt—including the amount, the name of the original creditor, and your right to dispute the debt—within five days of contacting you the first time.

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Credit Corp

MAY 3, 2023

According to the Federal Trade Commission, as many as 20% of people could have an error on their report. Don’t forget to file a dispute with the original creditor who reported the error as well. You can request your free credit report from each of the three credit reporting bureaus annually.

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Consumer Financial Services Law

JANUARY 22, 2021

Finally, if the validation notice is being sent electronically, a statement explaining the consumer can dispute the debt or request original creditor information electronically. The Rule additionally requires the following additional prompt: “I want you to send me the name and address of the original creditor.”

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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. Especially in the current pandemic, COVID 19, medical bills, credit card bills, and other financial service bills may start to pile up.

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Consumer Financial Services Law

MAY 25, 2021

Moreover, the collection agency has the support of the industry and several trade associations and other interested parties intend to file amicus briefs in support of the collection agency’s position. The debt collector is petitioning for an en banc review which, if granted, will give the industry an opportunity to change the Court’s mind.

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Troutman Sanders

MAY 17, 2021

On May 12, the Senate Commerce Committee (FTC) voted to proceed with Lina Khan’s nomination as commissioner of the Federal Trade Commission. Previously, Khan served as a legal advisor to former FTC Commissioner Rohit Chopra. For more information, click here.

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