CICM

SEPTEMBER 15, 2023

In this blog, we will look at what Debt Collections is and why it is so important. What is Debt? Debt is money owed to another. This debt could be unpaid bills or invoices for goods and services, repayment of a financial service or money loan, or overdue sums for a range of obligations such as fines, taxes and rent.

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CICM

JULY 11, 2022

In our latest blog, the Menzies LLP Creditor Services team looks at what we should do when dealing with our aged debtor list. Prompt escalation of any issues where bad debt is apparent. As we head towards uncertainty in our economy, we are seeing more and more reminders of an inability to pay debts as they fall due.

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Troutman Sanders

JANUARY 9, 2024

On January 2, the CFPB published a blog titled, “Holding Debt Collectors Responsible for False Statements.” In the blog, the CFPB examined Carrasquillo v. The consumer sued to hold the debt collector accountable for the misrepresentation, but the debt collector pled ignorance. For more information, click here.

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Sawin & Shea

JUNE 23, 2021

If you are contemplating filing for bankruptcy, you are probably overwhelmed with debt that you can’t repay while dealing with creditors. There is good news and bad news. The bad news: You will not be able to stay where you are indefinitely. Again, there is good news and bad news about this automatic stay.

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Credit Corp

AUGUST 31, 2021

This article originally appeared on Arrest Your Debt and has been republished here with permission. It requires you to deal with the bills and the debt you have today while also thinking about the future and retirement. When I first started my blog, I pumped out a new article every day for two weeks straight. Diet and Clarity.

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Better Credit Blog

APRIL 1, 2022

LVNV Funding is a collection agency notorious for suing people whose debts they have purchased—if so, you may be wondering how to remove LVNV Funding from your credit report. Debt collectors, including LVNV Funding, oftentimes use questionable tactics to collect on debts. Debt Validation. Advanced Dispute Letter.

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Better Credit Blog

JUNE 1, 2022

Borrowing money costs more when you have bad credit — and your choices for a loan will be limited — which is why we have helped you narrow down your list by finding the top 6 best personal loans for bad credit. 6 Best Personal Loans for Bad Credit. Yes, bad credit loans will be expensive. BadCreditLoans.com.

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Nexa Collect

JULY 19, 2020

In one of our previous blogs, Using a Revenue Recovery Service to Recover debt , we discussed the risk undertaken by a business extending credit to another business, or consumer, by providing services in exchange for a promise of “due and proper consideration”. That means that the amount of debt owed to your company has decreased.

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Debt RR

SEPTEMBER 9, 2020

Once a debt is classified as uncollectible, generally, it is recorded on the debit side of the income statement and adjusted against provisions for bad and doubtful debts. A second effect can be observed in the company’s balance sheet when the currents assets are impaired, and bad debts are written off.

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Better Credit Blog

APRIL 5, 2022

Request Debt Validation. Request a Goodwill Deletion – If You Have Paid The Debt. Don’t go into too many details, but let the debt collector know if you’re trying to buy a house but can’t because of the negative information on your credit report. Ask the Collection Agency to Validate the Debt.

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Collection Industry News

MAY 10, 2023

As a result of actionby the Federal Trade Commission and the Commonwealth of Pennsylvania, debt collection company International Credit Recovery, Inc. The FTC and Pennsylvania charged that, in connection with its debt collection activities, ICR contacted consumers that it knew or had reason to know did not agree to order paid subscriptions.

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Sawin & Shea

APRIL 3, 2024

Filing for bankruptcy is a great financial option for those struggling with cumbersome debt. It enables you to discharge eligible debts, such as credit card and medical debt, so that you can live with a fresh start in the future. How Will Filing Bankruptcy Impact My Professional License?

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Collections Law

FEBRUARY 12, 2021

The first step should be finding someone who can be in your corner and fight to collect your bad debts until they either collect the bad debt or no one else can. The experienced and effective debt collection attorneys at the Law Offices of Alan M. Cohen LLC use both techniques (although not at the same time!!)

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Better Credit Blog

APRIL 1, 2022

A Chapter 7 bankruptcy will be removed from your credit report automatically in 10 years because, in this case, none of the debt is repaid. A Chapter 13 bankruptcy is cleared in 7 years since the debt is partially repaid. Discharged debts that still show a balance. How does bankruptcy affect my credit score? Incorrect dates.

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Better Credit Blog

MAY 12, 2022

Just like with consumer credit, debt from a civil judgment must be validated under the Fair Credit Reporting Act. To validate your debt, you’d have to write a letter to the court that ruled against you which may or may not be in your state. You’d may have to hire a lawyer, but if the debt is big enough this might pay off.

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Better Credit Blog

MAY 17, 2022

Auto Loans Can Be “Good Debt”. We sometimes see debates between good debt and bad debt. Good debt usually are the kinds of credit taken in ways that will improve our lives. At the top of the list of bad debt is credit cards. The Main Reason Auto Loans are Good Debt. Auto Leases – The Bad.

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Better Credit Blog

JUNE 1, 2022

Pay those debts off first before applying for one. The post How to Establish Credit with a Credit Builder Loan appeared first on Better Credit Blog | Credit Help For Bad Credit. A source of income that allows monthly payments of $50 to $100 for the term of the loan is needed. Importance of Credit History.

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CICM

JULY 26, 2023

In this blog, we aim to explain the importance of credit control in Credit Management. Even at the earliest stages of the customer relationship, effective Credit Control can help identify and manage warning signs which could otherwise prove costly through losses to bad debts and a hit to business profits. What is Credit Control?

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On Guard

JUNE 7, 2021

Bad debt can have catastrophic consequences for any business, with different industries each having their own vulnerabilities. With this in mind, battling against fraud is clearly a multi-faceted undertaking, with financial departments and credit control teams often finding themselves acting as gatekeepers to these bad actors.

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Better Credit Blog

JANUARY 27, 2021

BC Services is a third-party debt collector that has been hired by a healthcare provider to whom you owe money to get you to make payments on a debt. To legally collect a debt from you, they must first report the debt to the major credit bureaus. Debt Validation. How did they get my information?

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Better Credit Blog

APRIL 11, 2022

If you’re wondering how to get out of debt, you’re not alone. In 2021, the national household debt balance reached $14.96 Since more Americans are under pressure to resolve their debt, we’ve outlined several strategies that reduce or eliminate this financial liability. What is Debt? How Debt Can Impact Your Life.

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Collection Industry News

MAY 22, 2023

The Federal Trade Commission has stopped a pair of student loan debt relief schemes that it says bilked students out of approximately $12 million by using deceptive claims about repayment programs and loan forgiveness that did not exist. and SLA Consulting Services Inc.

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Taurus Collect

MARCH 5, 2024

In the UK, an innovative approach offered by many a debt collector is the ‘no win, no fee’ model, providing a risk-free solution for startups to pursue owed money. This model not only alleviates the financial pressure on emerging businesses but also ensures that debt collecting in the UK becomes a more accessible process.

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Better Credit Blog

APRIL 6, 2022

One of the most effective ways to get negative items removed from your credit report is to pay the debt, in exchange for the creditor removing the charge-off from your credit report. With this method, you’d use your payment as leverage to convince the debt collector to help restore your credit. Ads by Money.

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Better Credit Blog

SEPTEMBER 9, 2020

If you have been contacted by Sunrise Credit Services, you are probably being pursued for an old debt. Sunrise Credit Services is a debt collector that has been hired by your old creditor to collect payment on your debt. They may also have purchased the debt to profit off your payments. Validate the Debt.

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Credit Corp

SEPTEMBER 7, 2023

If you’re behind the national average, it may seem difficult to catch up, but whether you have bad credit or a lot of debt, you can still begin building your net worth by learning how to generate passive income. Passive income is a great way to generate more income, pay down your debt, and start saving and investing for your future.

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Better Credit Blog

AUGUST 3, 2021

Having a bad credit score can make it difficult to get a loan. “A bad credit score is somewhat of an indicator of your short, medium, and long-term ability to repay the loan, which is how banks make money.” The Most Important Factors For Loans For People With Bad Credit. Best Loans for Bad Credit Reviews.

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Better Credit Blog

AUGUST 3, 2021

Having a bad credit score can make it difficult to get a loan. “A bad credit score is somewhat of an indicator of your short, medium, and long-term ability to repay the loan, which is how banks make money.” The Most Important Factors For Loans For People With Bad Credit. Best Loans for Bad Credit Reviews.

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PDC Flow

DECEMBER 7, 2021

It’s no secret that hiring has become a challenge in most industries, and the debt collection industry is no exception. Or, we choose a bad hire who only stays with the company for just a few months. While this cycle may be common for many debt collection agencies, it is possible to hire teams of talented and dedicated professionals.

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Sawin & Shea

MARCH 27, 2024

They believe those declaring bankruptcy are irresponsible or bad with money. The truth is that there’s nothing to be ashamed of in filing for bankruptcy — bankruptcy is a great option for debt relief and overcoming financial problems, and filing could be your best option for getting your finances back on track.

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Better Credit Blog

JANUARY 20, 2022

In this review of Freedom Debt Relief, we’ll explain how the company can help if you’re struggling with unpaid bills. If you sign up to Freedom Debt Relief’s program, an advisor from the company will: Offer you a free financial evaluation as the first step. Negotiate with your creditors to reach settlements and reduce your total debt.

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Better Credit Blog

MAY 4, 2022

Debt consolidation is when you bundle several debts together into one larger sum and then make a single monthly repayment instead of multiple smaller ones. Consolidating debts with different interest rates and repayment schedules can make it easier to manage your finances. There are several ways to consolidate debts.

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Debt Guru

APRIL 14, 2023

Again, lenders like to see evidence that you’re a stable, responsible borrower – one that’s not likely to bite off more than you can chew, debt-wise. To lenders, having no credit is basically the same as having bad Your credit history provides some kind of glimpse into how you handle debt. The post Applying for a Mortgage?

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Better Credit Blog

FEBRUARY 15, 2021

Though you may be unfamiliar with Fairway, the agency collects on a wide range of consumer debts, including the following: Health insurance billing and follow-up. If you have debt in any of the areas listed above, Fairway Collections is legally allowed to contact you to collect. Self-pay collections. Parking tickets.

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Better Credit Blog

APRIL 1, 2022

This will make your bad credit even worse. Why are Repossessions Bad for Your Credit? If the lender hired a collection agency, the same debt may appear twice on your credit file, exacerbating the problem even more. Can A Repossession Be Removed from Your Credit Report? How Long Will a Repossession Affect Your Credit?

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Credit Corp

MARCH 8, 2023

Good credit improves your chances at these things, while bad credit decreases them. You can browse blogs, articles, and how-to tips on these sites to better understand how you can move forward positively with your finances. You can also learn about your rights under federal credit and debt laws. The Federal Trade Commission.

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Better Credit Blog

AUGUST 24, 2021

We talked to finance and credit card experts to get their insight into why lenders care so much about credit, and what you can do to get a good credit score or fix a bad one. To put it another way, the most important factors are whether you pay your credit card bills on time, and how much debt you have outstanding. Bad Credit Scores.

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